Business Consultancy Report: Marketing Strategies for LSST Institution

This business consultancy report provides an analysis of marketing strategies and challenges faced by institutions like the London School of Science and Technology (LSST) in expanding their reach. The report emphasizes the importance of market research and learning for developing effective strategies. It includes a competitor analysis using Porter's Five Forces framework, target customer market segmentation (STP), PESTLE analysis, SWOT analysis, and a BCG matrix. The findings highlight key areas such as recruitment, positioning, and motivation, along with SMART objectives for LSST. The report concludes that understanding the market and competitors is crucial for formulating successful strategies and enhancing educational marketing efforts.

Business Consultancy:
Business Report

EXECUTIVE SUMMARY
There had been a discussion about various marketing strategies and the problems that are
faced by the institutions while expanding them. For the purpose of enhancing knowledge about
the various other fields and courses research and its study is essential. With the aim of gaining
knowledge about the market and producing better market strategies through market learning for
the client the report had been prepared. This report will tell about the segment of the customers
where the institution should focus to solve its problem.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION ..........................................................................................................................1
RESEARCH ABOUT THE CLIENT..............................................................................................1
Brief Background of Client....................................................................................................1
Identify the Project and the Client..........................................................................................1
Competitor Analysis (Porter's Five Forces framework).........................................................1
Target Customer Market (STP of the Programme)................................................................2
PESTLE Analysis...................................................................................................................3
SWOT ANALYSIS.........................................................................................................................4
BCG Matrix............................................................................................................................4
FINDINGS.......................................................................................................................................5
Recruitment- ..........................................................................................................................5
Positioning- ............................................................................................................................5
Motivation- ............................................................................................................................5
SOLID LINKS.................................................................................................................................6
Related Skills and Expertise of team to the client's needs.....................................................6
SMART Objectives................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
Business consulting can be explained as the advices for development of particular areas of
the business such as management, human resource, marketing, public relations, departments,
financial control, security, etc. The report will identify the problems that are faced by the
officials and authorities that provide higher education. The report at the end will showcase the
strategies of institution to target its customers and reach maximum prospects to market their
courses.
RESEARCH ABOUT THE CLIENT
London School of Science and Technology (LSST) is a institution that provides higher education
through various specialisation courses such as business, computing, management, sciences, etc.
Brief Background of Client
The LSSST is an educational institution, which was established in the year 2003 and
provides higher education to the students and it is headquartered at London, UK. The institution
is looking forward to extend its arms towards other courses and increase its portfolio that is to be
introduced in the next academic year’s professional qualifications.
Identify the Project and the Client
The management is focusing towards the development and adoption of professional
qualifications that competitors do not offer so they can gain better competitive advantage
(Barišić and et. al., 2020). LSST desires to enter new areas and in order to do so it requires a
study of the market and its customers.
Competitor Analysis (Porter's Five Forces framework)
Industry analysis is a tool or equipment that facilitates a company to evaluate its position
in the market in comparison to other companies in same industry (Clark and et. al., 2020).
Market forces are an important component to understand and implement effective strategies for
optimum planning of the courses and its requirements in the institution.
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Michael Porter developed his framework of five forces as a method to explore the
competitive ability of a particular industry. Let’s take a close look at those forces that could
affect the overall activities of London School of Science and Technology: Rivalry among Existing Competitors (High): This force among Porter's five forces looks
for the available competition from other businesses in the same industry (Cockell and et.
al., 2020). The Rivals of LSST group basically have high competition from University of
West London, London University, etc. Threat of New Entrants (Low): It refers to the upcoming threats and potential harms that
could be caused too the institution by new entrants in the same industry. The LSST group
will face low challenges with new entrants as very few organisations would open in
educational sector. Threat of Substitute Products (Moderate): It can be explained as threat caused due to
availability of substitute products that gives tough competition to products marketed by
the company. In the education sector there are many substitute options that makes the
competition moderate for LSST (Mendenhall and et. al., 2020). Bargaining Power of Suppliers (less): It is the power of suppliers to bargain their
product sales prices with the retailers (Lima and et . al., 2021). There does not exist many
suppliers in the educational institutions such as LSST, and they do not require any
supplies for most of its activities.
 Bargaining Power of Buyers (Less): It shows the power of buyers to negotiate prices of
products in the market due to availability of low-cost products and better quality from
other company's products. The students once enrolled will unlikely switch the institution
that means the buyer power is less.
Target Customer Market (STP of the Programme)
The new campaign for developing additional courses, LSST would be focusing on the
learning groups such as higher school students.
 Segmentation: It will include the trainees, officials, students and other people who are
willing to learn new strategies and skills to enhance their performance at the workplace.
The age group of the customers would be mainly from 18 to 35 years of people who
would be school pass outs and adults seeking for higher education.
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 Targeting: The main target of the programme would be the students who are going
through or pursuing their learning in higher studies. LSST target customers will be the
students looking for higher studies in that field and want to gain the opportunities of
learning.
 Positioning: The areas served would be the educational institutions as well as the
organisational places where the training and development is required for skill
development of the employees. The employees would position their services across the
market through its banners, posters and online sites.
PESTLE Analysis
As many educational institutions continue to grow, competition for surviving in market is
tensioned by them. External environment factors affects any business or institution therefore
PESTLE analysis of LSST is given below: Political: Political factors affects a business in many ways, because these forces are
always available in a market due to the influences of government. LSST could choose to
transform itself as a educational and trust institute in order to gain more of government
support. Economic: The factors such as inflation, deflation, ferox reserve prices etc. are constantly
changing are considered under economic factors. The institution should focus on having a
better economic study to understand the economic conditions. Social: There are various factors such as caste, creed, religion, traditions, etc. which may
affect the running of a business which are considered under this category. The social
practices and norms of an society should be followed by the institution in order to be
effective education provider. Technological: To fulfil the specific need of student, there is needed to ensure that latest
technology should be used for better and effective learning. Modern technology will
allow students to deal with the latest learning and knowledge which is effective and
provide latest information for the better learning for student (Nakao and Nishide, 2020). Legal: LSST should focus on rules, regulations and norms of the UNE and UGC in order
comply with all legal aspects in a business.
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 Environmental: The company should focus on various environmental factors related to
its focus on value education to the students so that they could create people who have
sustainability mindset.
SWOT ANALYSIS
SWOT analysis is a effective tool that could be utilised by an organisation in order to
identify their internal strengths and weaknesses along with their external threats and
opportunities. Strengths: The Strengths of LSST lies in its students and its performance across the
educational sector. Its results determines its quality of education that it provides, even
though many competitors exists the institution focuses on providing best education. Weaknesses: LSST has not experienced the inculcation of a new course and the outcomes
may not be so solid to provide reasonable success at early stages. Opportunities: The growth and opportunities of the institution lies with its new courses,
the students and its results, the institution could easily get growth in its new courses.
 Threats: The competitors prevailing in the market may not let the institution to cover the
required amount of students for its courses. The institution may not be able to cope up
with the competitors in a complete manner.
BCG Matrix
Stars Question Marks
Humanities and Culture
Business Management Studies
Engineering and Technology
Science
Teaching and Education
Tourism and Hospitality
Transport and Logistics
Health and Fitness
Cash Cows Dogs
Art and Design
Business Administration Studies
Computer Sciences and IT
Health and Well being
Media and Communications
Languages
General Studies
Humanities and Culture
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FINDINGS
There are different client issues which needs to be dealt by the college for better
improvement. In this some of the issues are like -
Recruitment-
To implement student with better effect can allow getting better deals and can provide
better impact on every student. In this, there is an issue which is related with getting recruitment
of highly qualified staff which can allow getting better learning about the latest techniques of
teaching (Phillips, Page and Sebu, 2020). There is need to either training staff member about the
latest technology that can enable them to delivery learning to student through it or they need to
hire some staff member who has the knowledge about the latest educational aspects.
Positioning-
Positioning is a great competitive tool to maintain ahead of competition and various
organisations uses digital marketing strategy and technological tools in various ways. Marketing
of the LSST could utilise hoardings, posters and advertisements through various mediums such
as above the line or below the line promotion techniques. To make the positioning more effective
the management should focus on enhancing the experience of the students in the college who
will take the message of college to the world.
Motivation-
The LSST will provide the opportunity of learning through its institution and courses at a
very reasonable cost which will be made accessible for every student in the campus or outside
the college. The plan would be focused for the students and people who want to develop their
skills in particular activity of the business and education (McCafferty and et. al.,2020). The
college could focus on the people who want to garner opportunities of new learning and better
growth opportunities.
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SOLID LINKS
Related Skills and Expertise of team to the client's needs
Institution needs to use the modern technology which can allow getting better learning
by the individual with effective teaching. Modern technology is effective and allow student to
learn more effectively about any learning. The client should use latest techniques of learning
which can be effective and allow getting better education in the courses for better impact. In this,
using of latest techniques of studies can attract student for better learning and can provide better
outcomes. There is a need to ensure about the staff member who can effectively teach the
students that have high impact on the students. In this, there is need to provide training to their
staff or they should recruit them. For this, there is high impact on the student learning that can
have better outcomes.
SMART Objectives
Here SMART refers to the Specific, Measurable, Attainable, Realistic and Time-bound
objectives to be achieved by LSST. The SMART of LSST is given below:
Specific Introduction of new courses and tutors for expanding its portfolio courses.
Measurable It would be started till the upcoming academic year.
Attainable The management is having a plan that should be executed to achieve the
results and tart new courses.
Realistic The collage has made the announcements and modified their portfolio with
new courses.
Time-bound The new courses would be started within 6 months.
CONCLUSION
In the following report it has been obtained that an educational institution faces various
challenges while bringing new course and needs to assess the market of the education sector to
enhance education marketing. The report further has been detailing about the marketing strategy
to promote a campaign that will enhance learning programme of the students. It had been
explained in the report, that knowledge of competitor and market is necessary to formulate plans
for further success of their strategies.
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REFERENCES
Books and Journals
Barišić, I. and et. al., 2020, June. PROFESSIONAL ACCOUNTANT OF TODAY-ANALYSIS
OF ESSENTIAL COMPETENCY REQUIREMENTS. In Proceedings of FEB Zagreb
International Odyssey Conference on Economics and Business (Vol. 2, No. 1, pp. 1-14).
University of Zagreb, Faculty of Economics and Business.
Clark, T. M. and et. al., 2020. Testing in the time of COVID-19: A sudden transition to
unproctored online exams. Journal of chemical education, 97(9). pp.3413-3417.
Cockell, J. and et. al., 2020. Appreciative inquiry in higher education: A transformative force.
FriesenPress.
Lima, Y. and et . al., 2021. Exploring the future impact of automation in Brazil. Employee
Relations: The International Journal.
McCafferty, P. and et. al.,2020. Students, tech, COVID drive higher ed design: College and
university building design is being driven by student needs, technology and new air
quality demands. Consulting Specifying Engineer, 57(9). pp.49-55.
Nakao, K. and Nishide, Y., 2020. The development of social entrepreneurship education in
Japan. Entrepreneurship Education, 3(1). pp.95-117.
Phillips, P. A., Page, S. J. and Sebu, J., 2020. Achieving research impact in tourism: Modelling
and evaluating outcomes from the UKs Research Excellence Framework. Tourism
Management, 78. p.104072.
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