Marketing Report: Hertfordshire Business School's Singapore Strategy

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This report analyzes the marketing strategy for Hertfordshire Business School's expansion into Singapore. It begins with an introduction outlining the university's goals and the scope of the report, which focuses on developing a marketing plan for the Singapore market. The report then explores market-related issues, particularly cultural differences, and proposes an action plan that incorporates both standardized and adaptive strategies. A PESTEL analysis is conducted to assess the political, economic, social, technological, environmental, and legal factors influencing the expansion. Cultural differences between the UK and Singapore are examined, followed by a conclusion summarizing the key findings and recommendations. The report also includes a SWOT analysis, and references to support the analysis. The report uses 7P's marketing theory to analyze the market.
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Running Head: Marketing
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Marketing across Cultures
Expansion of Hertfordshire business school into Singapore
12/20/2019
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Contents
Introduction........................................................................................................................2
Market-related issues (Finding and evaluations)...............................................................2
An action plan that includes standardized and adaptive strategies..................................3
PESTEL.............................................................................................................................5
Cultural differences............................................................................................................6
Conclusion.........................................................................................................................8
References.......................................................................................................................10
Appendix..........................................................................................................................13
SWOT..............................................................................................................................13
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Introduction
Hertfordshire's business school is the leading university of the United Kingdom whose
goal is to provide transformational education to the student. The main goals of this
university are to changer the person from the learner to an employed professional. The
university has started to expand its business school in Singapore so that they can teach
more students and do more welfare (Alrashidi and Phan, 2015). In this report, the
marketing strategy of the Hertfordshire business will be elaborated which will open their
university in Singapore. As there will be different cultures so the action plan will be
made which helps in establishing the university in Singapore. The report will also
elaborate on the SWOT, PESTEL and marketing mix elements to evaluate the
marketing strategy.
Market-related issues (Finding and evaluations)
There are certain issues which the Hertfordshire business school has to face while
expanding their business in the foreign country Singapore. The major issues have been
facing regarding analyzing the culture of the Singapore people. The people over there
are very focused on their values and beliefs so to change their perception regarding the
education university was quite challenging (Catherine Henderson, 2014). Even the
Hertfordshire School was offering free education to the primary students still the people
over there send to their students to the trusted schools only. As this university is new for
Singapore people so it will tool the time to earn the trust and value of their parents. The
norms and ethics in Singapore are different from the United Kingdom so it is also the
basic reason behind the market issues.
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An action plan that includes standardized and adaptive strategies
Marketing strategy and theory: The marketing strategy of the Hertfordshire business
school is to expand its business in Singapore by analyzing their market structure so that
more students over there can be captured. As Singapore is the highest in the literacy
rate and people over there are very much concerned about the education system so
their strategy is to open the university in Singapore to attain more profits and valuable
students (FitzPatrick, 2015). 7P’s marketing theory is used to analyses the market
which is stated below:
Product
The university needs to expand the business in Singapore so the product of the
university relates to the degrees of the university and various studies of universities are
included (Bailey, et al., 2015). The university needs to manage its products as per the
customers so the customers of Singapore attract the product of universities The
University needs to manage the overall services in the market of Singapore.
Price
The price is also an important factor as this decides the business of the university in
Singapore as the students need to prefer the reliable prices related to the studies as the
price greatly affects the students of Singapore (Holtbrügge and Baron, 2013). So, the
university needs to maintain the prices of the degrees.
Promotion
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The promotion is also an important factor as the students know about the latest degrees
and studies offered by the university so the university uses the promotional strategy in
the related market.
Place
The place matters a lot in the marketing process of the Hertfordshire University to
expand the business in Singapore as the place of the university is very essential for the
students and the place decides the number of students applied in the university (Yang,
et al., 2015).
Physical Evidence
The physical evidence is also important in the marketing process of the university as the
evidence is responsible for gaining the attraction of the students in Singapore so the
university needs to maintain the proper evidence of it for improving the profits in the
expansion of Singapore.
Positioning
The position of the university is also essential in marketing as the position is one of the
main criteria for gaining the attraction of the customers. The university needs to
maintain the position in the market and need to highlight the services given to the
students so they need to take admission to the particular university.
Mode of entry in the market: The Hertfordshire business school has chosen the joint
venture method to entry in the foreign market. The two or more parties have jointly
taken part in the commercial enterprise so that they could attract more international
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students. It is the strategic alliance that accesses to the distribution networks and the
new markets. The company has jointly collaborated with the other university so that they
can attain their students and even the specialized teachers of that university. This will
helps the Hertfordshire business school in access to greater resources and specialized
technology and staff.
PESTEL
Political: Singapore is a democratic country so the political risk is very low over there.
The political stability is there and the people over there have a good standard of living.
Due to its stability in the market, the Hertfordshire business school can improve their
business opportunities.
Economical: The economy of Singapore is a vibrant free-market where the
development has been done at a fast pace (Skoric and Poor, 2013). The country is well
educated and free from corruption. So by establishing the business of Hertfordshire
School, the university will get the benefit as per capita income of the country is higher
and people give preferences to education.
Social: The family values are the traditions over there and in Singapore, the western
culture is followed by the younger generation. The literacy rate is very higher in the
country so by expanding the business of Hertfordshire School many advantages can be
gain.
Technological: The technology advancement is higher in Singapore as the internet
plays a major role over there. The people also took education online and very active
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towards social networking also. So, online education has led to a higher level due to
household broadband internet (Allen, 2015).
Environmental: Singapore is the Anti-pollution city so the students prefer to take their
education from that country. So by opening Hertfordshire business school over there,
the students could have some fresh air. Although there is a lack of water resources still
water quality has controlled through many acts.
Legal: The policies have been launched in Singapore which is related to e-commerce
and cross border policies to enhance the growth. Economic growth is supported by legal
regulatory. The legal structure of Singapore is in favor of the education system and they
also spend their major funding in that (Lin, et al., 2015).
Cultural differences
Culture of the United Kingdom: In the UK, British culture is followed which is
influenced by the nation’s history. There are majorly Christian people in the UK who
have very strong English. In some of the commonwealth countries of the UK like
England, Wales, Northern Ireland, etc. the education system is high. The people over
there like to complete their high school studies and also prepares for their A - level
examinations. The universities of the UK are cheaper so people also came here to take
their educations (Giesen, 2013). The people over the UK majorly spoke English so the
people over there have the goof English base. From the age of 3, people over the UK
speak English and majorly 98% of the population over there speaks English only.
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In terms of education, the United Kingdom is considered the second leading study
destination. England is basically famous for its educational institute as the universities
over there are well mannered for the students to study. The Old English literature is
majorly influenced in this country and the traditions have been inherited from Scotland,
England and Wales. The famous English authors in the country were William
Shakespeare and Geoffrey Chaucer. In British culture, the major role has been played
by sports. There are many sports which have been originated in the country including
Football. The people over there generally celebrate Christmas as their biggest festivals
as most of the people are Christians. The people over the UK love to eat fish and chips
(Sakarya and Soyer, 2014).
In England, the education system between the ages of 5 to 16 years is free and
compulsory so that people should have basic knowledge regarding education. In
England, there are two separate stages which are primary and secondary. In the
primary, the education system begins at the age of five and it remains till the age of
eleven (Laufs and Schwens, 2014). From above the age of eleven, the secondary
stages started where the students study for the higher level. The government schools
are free for all the pupils and the independent schools over there tool part in the HMC
projects Scholarship Scheme.
Culture of Singapore: The European and Asian culture combination is followed in
Singapore. The young nation is more in Singapore so the need for universities is more
as there are many people who want to qualify with the best universities. The major
spoken language is English in Singapore. The languages like Tamil, English, and
Malayalam are generally spoken in Singapore (Skoric and Poor, 2013). The country
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Singapore is known for its best technology as it is considered as the hub of Asia. The
main religion of Singapore is Buddhism and people over there also adhere to
Christianity. The values of Singapore are that they give more importance to the nation
before the society and the community. In Singapore, there is the freedom of religions
and it is the fine city for the tourist.
In Singapore, there are six years of primary school which is compulsory for all the
children in which two years of post-secondary school and four years of secondary
school. In Singapore, before leaving primary school the students have to undergo the
two major exams. The education is free for the primary students under the purview of
the Ministry of Education. The education system is best in Singapore and even in the
international exams; the best score is attained by Singapore students (Lim, 2014). The
teachers basically focus on the skills and the knowledge of the students and are specific
regarding their problem-solving skills. The education of Singapore is considered
superior as the parents also play a crucial role in the education of their children.
The education system in Singapore is very costly as the average amount for studying
over there is $ 2000 to $ 12000 on a monthly basis. Depending upon the university and
program the cost of education increases (Akaka, et al., 2013). The undergraduate
students have the educational cost of around INR 12-20 lakhs per year. The competition
in Singapore is very tough in terms of education so people over there feel stressful as
the major emphasis is on the high grades and the tests. As per the OECD’s
Programmed the education system of Singapore is considered as the best in the world.
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Conclusion
From the above report, it is evaluated that the action plans helps in expanding the
business to another foreign country. By analyzing the market structure of Singapore it
becomes quite easy for the Hertfordshire business school to open their university in that
place. In this report, the SWOT, PESTEL and marketing mix has explained to evaluate
the marketing strategies. The major focus has been done on the cultures of the UK and
Singapore and from that, it is evaluated that English is the major spoken language of
both the countries and in Singapore the literacy rate is very higher so opening the
university will give the benefit to the business.
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References
Akaka, M.A., Vargo, S.L. and Lusch, R.F., 2013. The complexity of context: A service
ecosystems approach for international marketing. Journal of International
Marketing, 21(4), pp.1-20.
Allen, K., 2015. Breeding ground: Analysing higher education in the United Kingdom
and the Allure of Islamic extremism. Journal of education and human development, 4,
pp.238-245.
Alrashidi, O. and Phan, H., 2015. Education Context and English Teaching and
Learning in the Kingdom of Saudi Arabia: An Overview. English Language
Teaching, 8(5), pp.33-44.
Bailey, L., Griffin, C. and Shankar, A., 2015. “Not a good look”: impossible dilemmas for
young women negotiating the culture of intoxication in the United Kingdom. Substance
use & misuse, 50(6), pp.747-758.
Catherine Henderson, J., 2014. Food and culture: in search of a Singapore
cuisine. British Food Journal, 116(6), pp.904-917.
Falk, J.H., Dierking, L.D., Osborne, J., Wenger, M., Dawson, E. and Wong, B., 2015.
Analyzing Science Education in the United Kingdom: Taking a SystemWide
Approach. Science Education, 99(1), pp.145-173.
FitzPatrick, P., 2015. Reinventing Singapore: Education and the Mindset. International
Higher Education, (31).
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Giesen, M., 2013. Curating human remains: caring for the dead in the United
Kingdom (Vol. 11). Boydell Press.
Holtbrügge, D. and Baron, A., 2013. Market entry strategies in emerging markets: An
institutional study in the BRIC countries. Thunderbird International Business
Review, 55(3), pp.237-252.
Krishna Erramilli, M., 2019. Entry mode choice in service industries. International
marketing review, 7(5).
Langley, P., 2016. Crowdfunding in the United Kingdom: A cultural economy. Economic
geography, 92(3), pp.301-321.
Laufs, K. and Schwens, C., 2014. Foreign market entry mode choice of small and
medium-sized enterprises: A systematic review and future research
agenda. International Business Review, 23(6), pp.1109-1126.
Lim, K.M., 2014. Teacher education & teaching profession in Singapore.
Lin, T.B., Mokhtar, I.A. and Wang, L.Y., 2015. The construct of media and information
literacy in Singapore education system: global trends and local policies. Asia Pacific
Journal of Education, 35(4), pp.423-437.
Sakarya, S. and Soyer, N., 2014. Cultural differences in online shopping behavior:
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