Consultancy in Practice: Enhancing LSST's Marketing Strategy Report

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This consultancy report provides an analysis of the marketing strategy employed by the London School of Science and Technology (LSST), focusing on the challenges related to brand awareness and increased competition in the educational sector. The report outlines the problem statement, detailing the impact of new competitors and the need for improved brand recognition. A primary research methodology, including survey questionnaires, was used to gather data. The analysis of the data suggests the implementation of online marketing campaigns and digital strategies to enhance brand visibility and attract more students. Recommendations include leveraging digital branding advertisements across various online platforms, utilizing standard marketing tactics, and offering incentives such as grants and fee discounts. The report also suggests employing the Ansoff growth matrix for strategic expansion, focusing on market penetration, market development, and product development. Ultimately, the report forecasts that a comprehensive brand development strategy, particularly through social media, will effectively address the challenges faced by LSST and contribute to increased student enrollment. Desklib offers access to this report and many other solved assignments for students.
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Consultancy in Practice
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Contents
1. EXECUTIVE SUMMARY.............................................................................................................................3
2. INTRODUCTION.......................................................................................................................................3
3. PROBLEM STATEMENT............................................................................................................................3
4. RESEARCH METHODOLOGY.....................................................................................................................4
5. ANALYSIS.................................................................................................................................................5
6. RECOMMENDATION................................................................................................................................5
7. FORECAST................................................................................................................................................7
8. CONCLUSION...........................................................................................................................................8
REFERENCES................................................................................................................................................9
APPENDIX..................................................................................................................................................10
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1. EXECUTIVE SUMMARY
Marketing strategy may be defined as a company's strategic program that allows them to
investigate people and convert them into customers as a result of their goods & services. A
marketing plan incorporates a firm's business model, branding messaging, consumer
demographic information, and other elements (da Silva and Farias, 2018). A company's
marketing plan can be carried out in a variety of ways, including online marketing, brand
campaigns, and other activities that help them achieve their objectives. Branding campaigns and
other tactics assist a firm in differentiating its goods from those of other organisations. This
research report comprises a research of LSST, a London-based education organisation that offers
educational advantages to a large amount of students. It is a study that covers various problems
encountered by the company as well as solutions to those problems.
2. INTRODUCTION
Business consultation is a service offering in which a company gives advise to its various
customers and clients for a fee. The examination of two company firms will be carried out for the
specified data from specific. The rationale for all of this is that if the firm has an issue, it will
want some direction, which will greatly aid them in improving their operations. The study
documentation assessment over LSST, i.e. London School of Science and Technology, and
Fairfield School of Management, is offered here (Hodges, 2017). The client who has authorized
consultancy is the LSST, or London School of Scientific and Technological. In the instance of
LSST, the main issue that the school is dealing with is online media and promotion. In today
increasingly highly dynamic and competitive business world, the utilisation of marketing and
social media marketing is critical for the school's successful performance. To participate in a
dynamic industry, LSST intends to grow into new areas in order to increase the Company's
sustainability. As a result, they are considering the application of digital marketing and
advertising inside the services. In terms of digital advertising, the central emphasis is on digital
university education offerings.
3. PROBLEM STATEMENT
The London School of Science and Technology (LSST) is a for-profit management
education school that operates in the educational area. It has four campuses, including Wembley,
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Luton, Aston, and Elephant and Castle. There are approximately 4000 students were enrolled in
multiple subjects for management consulting, IT and computers, education and healthcare, and
other subjects. Learners at this institution are fed by Paddie via government funds as well as
student loans. This organization's goal is to give assistance to potential learners with varying
talents, backgrounds, and goals in order for them to realize their commercial potential via study
and accomplishment. It is an institution which aspires to be acknowledged as a leader in
university education by motivating and liberating individuals from educational limitations. It
instils in pupils qualities such as competence, integrity, responsibility, and integrity. This is one
of the largest colleges in the United Kingdom, and it has experienced a number of challenges in
latest years of the market place (Kürzinger and Miller, 2017).
As the industry becomes increasingly competitive, one of the primary difficulties
confronting LSST is brand awareness. Branding awareness is the most important approach that
allows organizations to enhance brand recognition of their goods while also improving the
quality of the company. It is possible for a firm to do this since it has an influence on several
regions as well as pupils. It is a crucial marketing problem since boosting brand recognition
allows companies to maximize their efficient technical to buyers. It serves as the foundation for
the next stage, which is brand marketing. It is necessary in order to achieve the firm's aims and
goals and to enables the firm to distinguish its goods from those other goods & services. It
enables the company to handle the rivalry that LSST is facing as a result of the market's rising
intensity.
Another difficulty that the company is dealing with is the influx of new advertising
competitors into the industry, which has raised competitive pressure. This is critical for a firm to
combat competitors since it has a detrimental effect on the industry's revenue and advertising
position. As a result, the corporation is unable to reach out to clients and communicate their
information that their college provides a variety of amenities for learners. To combat it, the
organisation must create a digital marketing plan that will help them to raise brand recognition
(Pruthi, 2021).
4. RESEARCH METHODOLOGY
Research is carried out with the goal of gathering knowledge on a certain business as well as
other items. There are several sorts of data sources that are utilised for the purpose of collecting
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and knowledge. Original source analysis is used in the study of LSST. A primary study is one in
which a researcher collects original information by interviewing, survey, or other means. This
study includes survey questionnaire in which several sorts of questions were addressed to
individuals in order to obtain accurate knowledge (Bencheva and Stoeva, 2018).
In addition, an examination of the competition is critical for the successful administration
of LSST. The rationale for this is because if the work is not excellent and efficient, it will have a
significant influence on the operation of the LSST. In addition, a thorough examination of the
competitors is essential. This is consistent with the observation that if the business employees are
poor, it will have an impact on the school's performance and productivity and judging the work
schedule of rivals. The competition analysis is crucial because it allows the LSST to examine the
current trends, as well as the numerous methods being implemented. As a result, it is also vital
for LSST to successfully analyses the functioning tactics and tendencies of competitors and then
attempt to replicate them inside their own functioning. As a consequence of the competition
study, the firm will be aware of all the latest innovations and working patterns, and as a
consequence, the workplace environment will be greatly influenced. Furthermore, the results of
competitive strategy will aid in the successful growth of corporate expertise and the formulation
of stronger and more effective plans (Jordan, ed., 2020).
5. ANALYSIS
Based on the data and infractions gathered from primary data, it is possible to conclude that
the difficulty encountered by LSST is connected to new competitors as well as brand
recognition. Brand recognition is critical for increasing clients for a firm. It also enables
businesses to acquire a greater number of clients while increasing their market dominance. To
address this, LSST can implement online marketing campaigns, which is an efficient strategy. It
enables businesses to grasp various market problems, as well as to determine which strategy to
adopt in order to resolve competitiveness. There are several market aspects that have industries
such as banking and its profitability. Competitiveness is a challenge to any firm because rivals
use strategies to entice clients away from their competitors. New competitors can bring new
technology and efficiency, which increases company competitiveness. To resolve these concerns,
businesses may create digital marketing campaigns that permit them to employ technology while
also increasing their reach to customers. It enables businesses to use client information to
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analyze their current situation and to better serve them. According to the results of the survey,
there is a rising demand for new programmers and new competitors are providing such
coursework to their customers (Körner, Strubelt, and Haase, et. al., 2021).
For all of this, businesses must implement a digital marketing strategy that allows them to
inform customer about the product capabilities and, of course, new products. The current
business plan focuses on expanding the amount of customer for the company through various
sales promotion. It is also working on establishing tactics for new competitors to survive
competitiveness. Modern marketing plans also enable the company to make changes to their
tactics, since businesses should leverage digital technology to improve name recognition and to
compete.
6. RECOMMENDATION
According to the above-mentioned secondary sources, it is suggested to the London School
of Science and Technology (LSST), which is private enterprises collage and provides courses in
management studies, healthcare and education, telecommunications, and computer technology
that assist university function in an effective way and result its processes forward into progress
and expansion. The following are some alternatives:
• It is suggested that the London School of Science and Technology (LSST) perform digital
branding advertisements involved in selling institutional training all over different digital
marketing networks, allowing firms to communicate a significant number of people and enhance
the overall image of the firm. It gives colleges a strategic advantage by distinguishing them from
everyone else. According to secondary research, the London School of Science and Technology
will benefit from undertaking online marketing in a variety of ways. By keeping constant
contact, the university may attract the right and keen interest in a short amount of time through
such initiatives. According to the secondary research project, the university employs numerous
digital media sites such as Facebook, Instagram, Twitter, and others because today's clients are
engaged on many social media networks (Pedro, Leitão, and Alves, 2019).
• The London School of Scientific and Technological must also use standard marketing tactics to
impact and convince its market, such as advertisements, booklets, and other channels.
Advertisements on radio and in newspapers have a restricted client impact since consumers
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nowadays want to not follow politics. Alternatively, people use Smartphone apps and watch
short clips to receive news or information. According to secondary research, employing
traditional channels can occasionally assist colleges increase brand recognition and impact them.
• It is proposed that the London School of Science and Technology use additional advertising
strategies such as awarding grants, providing fee discounts, and other methods that entice people
to college while maintaining an organizationally unique position in the marketplace. Scholarship
surely attracts candidates, which raises the general level of the institution by increasing the total
snipped percentages for entrance examinations.
Ansoff growth matrix: It is characterized as a strategic management tool that offers a platform
for organizational managers to develop prospective expansion plans. It comprises the following
tactics for expansion:
• Market penetration refers to the sale of an organization's current products in an established
market. It is employed in order to be more competitive and earnings.
• Market development is associated with the sale of current products and administrations in new
markets. To raise brand recognition, the business should launch a promotional campaign.
• Product development entails bringing unique and fresh goods and services into an established
market (Masood, Hoda, and Blincoe, 2018).
A differentiating approach requires marketing a brand new product marketplace. This
necessitates more expenditure and advertising efforts.
London School of Science and Technology must establish innovation and market growth plans
that will allow the institution to grow its business and market presence. Product development
assists colleges in introducing new education to students, while commercialization assists in
attracting a bigger market share of various groups via the use of online marketing efforts.
7. FORECAST
There are several remedies or proposals presented to London Technological university to
tackle this issue of poor brand recognition and competitiveness. In all of these proposals, brand
development strategy is the most effective option that should be implemented by college since it
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allows it to be used Twitter and Instagram, allowing it to contact a big amount of people and
create knowledge about college classes and other elements. By using this method, the college
may entice youngsters and persuade them to enroll in training institutions at the London School
of Science and Technology. It assists colleges in resolving the issue of brand recognition and
advertising in an adequate way, and it significantly contributes in increasing enrollment numbers
in colleges. As a college faces competition in the marketplace, it must execute market plans in
order to get consumer insight and comprehend their behaviors, allowing the university to give
appropriate education to students based on their wants and expectations.
It is critical for the college to provide a variety of new courses, which might be
comprehensive or degree courses, in order to lure youngsters to the school. The London School
of Science and Technology may employ social media advertising and online marketing to
increase university business recognition in the market and give economic advantages to all
academic system.
8. CONCLUSION
Based on the examination of the preceding report, it is obvious that management
consultation is characterized as the notion by which an individual or a corporation can advise on
an issue. Such professional viewpoint is critical for fixing the situation and creating a knowledge
of the situation. According to the aforementioned answer and proposals, it has been determined
that the London School of Science and Technology should begin at minimum 5 new education
courses who are interested in pursuing a career in research. It is critical for colleges can provide
learners with flexibility training opportunities that allow them to complete their studies while
working extra. It aids the institution in attracting a huge number of children while also
maintaining the college's distinct image. The institution must implement a flexible scheduling
and through in in effort to keep a diverse group of students. In addition, it is critical for colleges
to use media to convey critical data to their audiences and to entice them to their institution's
programs. The proper implementation of social media campaigns gives several benefits to the
London School of Science and Technology, including analyzing client needs and competitive
analysis.
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REFERENCES
Books and Journal
Bencheva, N. and Stoeva, T., 2018. Key Skills and Competences for Social Business Advisors:
Views from Experts. International Journal of Organizational Leadership, 7, pp.413-425.
Hodges, J., 2017. Consultancy, organizational development and change: a practical guide to
delivering value. Kogan Page Publishers.
Jordan, D. ed., 2020. The Business of Heritage: Global Archaeology and International
Consultancy. Cambridge Scholars Publishing.
Körner, F., Strubelt, H. and Haase, H., 2021. Presenting an Interdisciplinary Teaching Approach
to Involve University Students in Issues of Sustainable Development. Universities,
Sustainability and Society: Supporting the Implementation of the Sustainable
Development Goals, p.69.
Kürzinger, E. and Miller, J., 2017. Profitable environmental management: A best-practice
approach from consultancy in international cooperation. In Consulting for Business
Sustainability (pp. 105-127). Routledge.
Pruthi, S., 2021. From a One-Man Consultancy to a Global Business Empire Connecting Back
Home: The Case of Purico Limited. In Indian Entrepreneurship (pp. 99-124). Springer,
Singapore
Pedro, E., Leitão, J. and Alves, H., 2019. The intellectual capital of higher education institutions:
Operationalizing measurement through a strategic prospective lens. Journal of
Intellectual Capital.
Masood, Z., Hoda, R. and Blincoe, K., 2018. Adapting agile practices in university
contexts. Journal of Systems and Software, 144, pp.501-510.
da Silva, L. C. D. A. and Farias, J. S., 2018. Coproduction In Knowledge Intensive Business
Services: Analysis Of Projects In A Business Consultancy. Revista de Gestao e
Projetos, 9(1), p.115.
Rockwell, M., Kraak, V., Hulver, M. and Epling, J., 2018. Clinical management of low vitamin
D: a scoping review of physicians’ practices. Nutrients, 10(4), p.493.
Fox, M. A., 2018. Mentoring support and self-efficacy of public school principals: a
correlational study (Doctoral dissertation, Northcentral University).
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APPENDIX
BM562 CW1 Project Portfolio 2021-22
Exploration and agreement of the brief from first meeting with client
Date:
Present:
Absent:
What is the problem(s) or issue that the client needs to address?
In pursuit of achieving the organization's ambitions and goals, the customer must successfully
resolve the issue of new company entry and concept of brand recognition of LSST. The main
issue related to digital marketing and entrants of new competitor in the market.
Why is s/he focusing on this problem?
The problem of brand awareness has been focused on since the institution is required to cultivate
its image in order to increase brand recognition. This problem is effecting on the business
activities and impact on the procedure of expansion.
Further background information about the company/competitors/customers etc,
relevant to the problem
LSST is a college that educates individuals ranging in age from 17 to 34 years. The university is
a centre of excellence in quality of learning and student assistance. Institute for Court
Innovations, The GAVI Alliance, Arizona Commerce Commission, and others are rivals.
Key deliverables/What would be a ‘successful’ outcome for the client, by the end of the
project?
If such a situation is fixed, the customer benefits from increased enrollment numbers and also
promotional strategies to make it profitable. The business does not have sophisticated technology
to give pupils with a maximum visibility to studying. Because of the cited college's inadequate
technological innovation, they are unable to give valuation instruction to its pupils. Modern
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technology is critical for educational institutions in order to deliver accurate and extensive
explanations of certain topics. As a result, the lack of technical innovation is becoming a barrier
to the expansion and profitability of the described company, and rivals will exploit this by
implementing new technologies.
Concerns/limitations raised by the client (e.g. costs, client availability)
The main barrier for customers is time, which should be rectified within 3 months in effort to
expand enrollment a year. Additional disadvantage is the expense, since LSST only has 24000
pounds to implement an optimal method for the specific situation.
Concerns raised by the consulting team
The main worry has been expressed about picking an alternate among the various available
possibilities for effectively creating a brand awareness program that includes online marketing,
commercials, and so on.
What actions were agreed and what are the deadlines for these?
· To be able to communicate with people.
• Forming groups
• Being acquainted with the LSST brand and company
• Delivering instruction in a timely and effective manner
• Ability to provide constructive criticism
• Access to extra explanations when addressing certain questions
The action is decided upon for the use of digital media to establish a brand information campaign
in order to attract a big proportion of students in a short amount of time. The timeframe to
achieve it is July 31, 2022.
Next client meeting date (or schedule of dates).
1st June 2022.
Partnership agreement
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This should include the precise general principles and process improvement methodology that
business organization will use to guarantee that all advisors are succeeding. Seminars will have
corporate governance principles for building this. They may utilize the contract that created in
Semester One, or they may add to it with the approval of all teammates.
PARTNERSHIP AGREEMENT
It is thus acknowledged between LSST and Marketing Agency that the applicable
agreement will immediately expire upon completion of its function. The major goal or
aim of such a contract is to successfully create a brand outreach program for LSST by
July 31st at a cost of 24000 Pounds.
Any failure of such contract will lead to penalties of 40000 Pounds, with both the
offended person receiving the charge inside 10 days of the failure.
Minutes of team, client and supervisor meetings
It should be ok to create your own designs, although the absolute minimum of strategic analysis
is;
Minutes of (Team/Client/Supervisor) Meeting (state which it is)
Date : 1st May 2022
Present: 10
Absent: 2
Minutes of last meeting
Are these accepted as a correct record? Yes
Brief summary of any points arising
Agenda
1 for the development of a brand information campaign
2 To identify issues related to the non-creation of an advertisement
3 For utilising a digital marketing to push a company
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