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Task 2 - Marketing Plan for Mentor Assignment

   

Added on  2021-01-25

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Task 2 - Marketing Plan for Mentor 1+Griffith UniversityQueensland
Task 2 - Marketing Plan for Mentor Assignment_1

Executive SummaryThis marketing plan is based on a comprehensive analysis of the company Mentor 1+ and its outstanding mentoring service. The company was created to solve international students’ overwhelming transition to a foreign academic environment by providing a mentoring program to suit each students’ need and expectations. Based on our research, as seen in the opportunity analysis, the majority of the students lack academic skills and hence, desire for a support service that frequently offers help.Australia is the third most popular study destination after the U.S and received 880,380 international student enrolments in the total higher education sector during 2019 (Departmentof Education 2019). Therefore, higher education comprises a substantial factor for the Australian economy, as well as international students, contribute a significant portion of the tuition revenue of Australian universities. That being said, Griffith University should further strengthen its reputation and position in the sector. This can be accomplished by the exclusivepartnership with Mentor 1+ that could increase international students’ choice of applying to Griffith University. Mentor 1+ is confident of enhancing students’ academic excellence and estimates for 100 Griffith international students to achieve a GPA of 5 and above within the next 12 months at Nathan and Gold Coast campuses. The service is offered for Griffith Business School students commencing their first trimester of undergraduate or postgraduate pathways. These students fall under the generations Z and Y and are primarily from medium socioeconomic backgrounds with limited disposable income. These generations are heavily career oriented and value higher degrees for enhancingtheir employability. The demanding lifestyle requires many skills whereof academic excellence is no compromise. It is, hence, critical that the mentor program is comprehensive and free from costs. In addition, the active lifestyle requires the service being flexible and convenient, which Mentor 1+ provides by face to face and online sessions. In order to gain competitive advantage, Mentor 1+ has invested in personalisation as they believe each student require different help such as, referencing or structuring assignments. The company found a solution of including a test within the application process where the mentor can evaluate and tailor a suitable program for each student. The sessions would then run by one designated mentor per student to create better communication and a trustworthy
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relationship. Furthermore, the staff consist of 20 mentors with high-quality qualifications from various business backgrounds. Since Mentor 1+ collaborates with Griffith University, it allows the company to utilise the university premises for promotion purposes to reach the target market and students can advantage of the free service that Griffith University pays. Resulting in a win-win outcome for each party. The promotional strategies refer heavily to online and social media advertisingsince the two generations are tech-savvy and environment cautious in terms of avoiding paperflyers and templates. Other advertising tools relates to orientation week and the student email portal. Mentor 1+ service is expected to launch in trimester 1 of 2020 and to be capable of withstanding the demand of expected enquiries; the company conducted a detailed 12 monthsplan for implementing all prior and post business activities. After the first year of launching the mentoring service, it is critical to growing the business further, and that could be done through the following recommendations:Within 3-4 years, the mentoring service could be offered in additional languages such as Mandarin and Hindi. According to the survey, these two languages were predominantly the most popular among international students. Therefore, a great business strategy to implement in the mentoring program.Mentor 1+ could expand their service in the next 7-10 years to other Universities in Australia.Mentor 1+ should focus building its reputation and capital during the collaboration with Griffith University and then expand its service to other Australian Universities such as the University of the Sunshine Coast, Deakin University, Edith Cowan University, and many others. Thereby, the company could grow independently with enormous international potential.
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Table of ContentsTable of ContentsEXECUTIVE SUMMARY...................................................................................................................................I1.0 MARKETING INITIATIVE...........................................................................................................................11.1 INITIATIVE......................................................................................................................................................12.0 GOALS & OBJECTIVES..............................................................................................................................12.1 MARKETING OBJECTIVES.............................................................................................................................13.0 TARGET MARKET & POSITIONING............................................................................................................13.1 SELECTIONOF TARGET MARKET.................................................................................................................13.2 POSITIONING STRATEGY..............................................................................................................................33.3 POSITIONING MAP.......................................................................................................................................4.....................................................................................................................................................................4.....................................................................................................................................................................4.....................................................................................................................................................................4.....................................................................................................................................................................44.0 MARKETING MIX STRATEGIES..................................................................................................................54.1 PRODUCT.....................................................................................................................................................54.2 PRICE...........................................................................................................................................................84.3 PROMOTION.................................................................................................................................................94.4 PLACE........................................................................................................................................................124.5 PEOPLE......................................................................................................................................................135.0 EVALUATION & CONTROL......................................................................................................................136.0 IMPLEMENTATION & SCHEDULE............................................................................................................146.1 GANTT CHART...........................................................................................................................................157.0 CONCLUSIONS & RECOMMENDATIONS.................................................................................................16REFERENCE LIST..........................................................................................................................................18
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1.0 Marketing Initiative 1.1 InitiativeMentor 1+ was created to support undergraduate and postgraduate international students, whoexperience academic skills challenging during their first trimester at the Griffith University. The company developed a mentoring service in alignment with the survey responded by students. Mentor 1+ offers one on one mentoring for international Griffith Business School students enrolled at Nathan or Gold Coast campuses. The service aims to assist international students adjusting to a foreign academic environment with resourceful help towards academicwriting, assignment structuring, exam preparation and general tips. The mentoring sessions are performed face to face or online on a weekly basis for up to 2-hours, with one designated mentor at a chosen location. This mentoring solution would enable students to possess better academic skills and perform in accordance with academic requirements. 2.0 Goals & Objectives2.1 Marketing ObjectivesMentor 1+ always strives for best performance and achievement and hence, the company desire: for 100 Griffith international students to achieve a GPA of 5 and above within the next 12 months at Nathan and Gold Coast campus. This goal would encapsulate evidence of the high performing mentoring team that support international students to strive for academic excellence, meanwhile improving Griffith University’s reputation. 3.0 Target Market & Positioning3.1 Selection of Target MarketThe target market for Mentor 1+ is no doubt that international students are commencing their first trimester of either undergraduate or postgraduate business studies. However, this is too broad, and hence, table 1 outlines a narrowed market segmentation of five categories (Solomon et al. 2014).1
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Target MarketDemographicsStudentFemale, male or unisex17 + years old - students under 18 must meet welfare arrangements and legal guardian requirements (Department of Home Affairs 2019).Students enrolled at Griffith Business SchoolGeneration Z and Y – majority Generation X – minority (Mentor 1+ Survey 2019).63% of students from medium socio-economic background (Griffith University 2018).Limited disposable income from casual or part time job (20h/week) or family support (Department of Home Affairs 2019; Mentor 1+ Survey 2019; Griffith University 2018).Tuition funding by family - mostly India and Asian countries. Government + family support - mostly Europe and Scandinavian countries (Mentor 1+ Survey 2019).PsychographicsVALS Type Innovators: Information seekerBrave and curious for international experienceChallenge seeker Problem solverIndependentSophisticatedFuture orientedVALS Type Experiencer:Ambitious and greedyExtrovertedFollow trends and fashionSpontaneous and thrill seekerActive(Strategic Business Insights 2020)BehaviouralStudent who lack academic skills and who desire for better academic excellenceStudent comprises a moderate use of thementoring service during academic 2
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