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Opportunity Analysis for Student Assignment

   

Added on  2021-01-25

18 Pages4004 Words35 Views
Opportunity Analysis forStudent Home AustraliaWord Count: 14897003MKT Marketing Foundations7003MKT Opportunity AnalysisPage 0
Opportunity Analysis for Student Assignment_1
Table of ContentsTable of Contents....................................................................................................................1Introduction to the Company......................................................................................................2Company Description and Problem Statement................................................................2Company Analysis.......................................................................................................2Market Situation.....................................................................................................................3Market Overview.................................................................................................................3Macro Environment Analysis..................................................................................................4Political Analysis.........................................................................................................4Economic Analysis.......................................................................................................4Social Analysis...........................................................................................................5Technological Analysis..................................................................................................5Legal Analysis............................................................................................................5Micro Environment Analysis...................................................................................................6Competitor Analysis.....................................................................................................6Competitive market Summary..........................................................................................7Consumer Analysis......................................................................................................9Collaborator Analysis..................................................................................................11SWOT Analysis........................................................................................................12Marketing Initiative...............................................................................................................13Reference List......................................................................................................................147003MKT Opportunity AnalysisPage 1
Opportunity Analysis for Student Assignment_2
Introduction to the Company Company Description and Problem StatementThe Student Home is a new company that relies on online websites and mobile deviceapplication to provide international students in Australia with targeted housing rentalinformation and accommodation options. Student Home is launched to create an idealaccommodation solution for international students living in foreign country to accelerate theirintegration into local life. Studying abroad can bring international students benefits ofeconomic and social status, however, language barriers and lack of understanding of localcultures make them face a series of difficulties and pressures in finding an idealaccommodation to stay (Duangpracha, 2012). Therefore, the primary purpose of StudentHome is to help international freshmen easily find a satisfactory “new home” when they setfoot on the land of Australia, while relieving part of their anxiety.Company AnalysisAs a ubiquitous phenomenon, international students face a variety of challenges when rentingan accommodation in Australia, such as language barriers, traffic conditions, location andprices (Duangpracha, 2012). This would also affect their academic performance to someextent. Due to the lack of university student apartment traditions similar to other countries,international students in Australia are more inclined to rely on the service of private rentalagencies (Burke, 2015). However, at current stage, rental agencies do not have specificservice for international student group, or there is no comprehensive housing option. Thiswould provide favorable market conditions for the launch of Student Home.Unlike other rental agencies, Student Home is first committed to solving the housingproblems for international students who are new to Australia, and based on this, the companywould be gradually developed into a rental information integration platform for internationalstudents. The key advantage of this project is that it collects information on housing thatmeets the special requirements of international students and provides an advertising platformfor shared accommodation to reduce their economic expenditures. 7003MKT Opportunity AnalysisPage 2
Opportunity Analysis for Student Assignment_3
Market SituationMarket OverviewThe export of educational resources has become a significant way to create economic value inthe Australian higher education industry. Quality educational resources attract hundreds ofthousands of international students to Australia every year. According to Studies in Australia(2019), in 2017, approximately 780,000 international students registered for study courses inAustralia, while half of them, about 350,000 enrolled in higher education courses. Such ahuge number still has an upward trend. More specifically, regarding international studentsenrolling in higher education, the data from Parliament of Australia (2019) shows that about400,000 places were enrolled in 2018, which increased about 14% compared to the previousyear. The huge international student population has also brought considerable economicbenefits. The value of international education in 2018 has contributed to Australian overalleconomy from $28.1 billion in 2017 to $32.4 billion (Parliament of Australia, 2019).Prosperous international student input would bring huge market potential and customergroups to Student Home.(Parliament of Australia, 2019)At the same time, Australian strong hospitality industry has also increased the feasibility ofimplementing Student Home rental platform. Relying on the existing well-establishedhospitality system and large number of vacant rooms, the rental industry is impacting thetraditional hotel and real estate industries, and contributed $1 billion to Australian economyin 2018 (The Real Estate Conversation, 2019). Specific data also reveals its strong growthmomentum. Short-term rental industry in Australia increased by almost 50% in 2019compared to the same phase, with more than 30,000 homes being rented (Ryan, 2019).Positive market capacity provides an information base for Student Home to find housing thatmeets the needs of international students.7003MKT Opportunity AnalysisPage 3
Opportunity Analysis for Student Assignment_4

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