Marketing Mix Analysis for UTAS: Strategies, Target Market, and Plan

This report presents a detailed marketing mix analysis for the University of Tasmania (UTAS), building upon a previous opportunity analysis. It begins with an executive summary outlining the report's goals, target market, and marketing mix strategies. The report identifies UTAS's target market, considering demographic, psychographic, consumption patterns, and geographic variables. It then defines the positioning strategy based on course variants and reputation, proposing the positioning statement "quality that can be afforded." The core of the report focuses on the marketing mix elements: product (including service attributes and value propositions), price (recommending a market penetration strategy), promotion (advertising via online and offline channels), and place. It includes specific goals, objectives, and a timeline for implementation, concluding with recommendations for long-term market development. The report emphasizes the importance of effective strategy implementation for UTAS's operational viability.

Running head: MARKETING MIX ANALYSIS
Marketing mix analysis
Name of the student
Name of the university
Author note

1MARKETING MIX ANALYSIS
Executive summary
The aim of this report is to discuss about the marketing mix strategies for UTAS in view to the
opportunity analysis done in the previous assignment. On the basis of the major external and
internal factors identified, this paper stated about the target market segment for UTAS and their
positioning strategy. In addition, the four Ps of marketing mix are discussed including all these
required aspects. It is expected that the effective and proper implementation of these strategies as
the schedule and timeline stated in this report will ensure the long term operational viability for
UTAS. A long term and a medium term recommendations are discussed in view to the market
development of UTAS in the coming years.

2MARKETING MIX ANALYSIS
Table of Contents
Marketing initiative.........................................................................................................................3
Goals and objectives........................................................................................................................3
Identification of the target market...................................................................................................4
Demographic variables................................................................................................................4
Psychographic variables..............................................................................................................5
Consumption and usages pattern.................................................................................................5
Geographic variables...................................................................................................................5
Marketing and brand dimensions.................................................................................................6
Identification of the positioning strategy.........................................................................................6
Marketing mix strategies.................................................................................................................7
Product.........................................................................................................................................7
Price.............................................................................................................................................8
Promotion....................................................................................................................................9
Place...........................................................................................................................................11
Evaluation and goals......................................................................................................................11
Implementation and schedule........................................................................................................13
Recommendations..........................................................................................................................13
Conclusion.....................................................................................................................................14
Reference.......................................................................................................................................15

3MARKETING MIX ANALYSIS

4MARKETING MIX ANALYSIS
Marketing initiative
In the previous assignment, the opportunities and the major threats to be faced by the
UTAS are discussed. In addition, the external business factors for UTAS are also identified,
which will influence their business process. It is identified that emergence of new competition is
one of the factors to be considered by UTAS in their future course of action. In line to this
scenario, this paper will discuss about the marketing mix elements of UTAS. In addition, the
target segments will also be identified best for the business revenue of UTAS.
Goals and objectives
Specific Measurable Attainable Realistic Timeframe
Increasing the
target customers
Minimum
increase of 20
percent over the
current segments
It is can be
achieved
considering the
market presence
of UTAS in
Australia
Increasing the
target segment
will increase the
business
opportunity
1 year
Increasing the
branding
exposure
Will cover the
European market
similar to the
Asian market
penetration
UTAS is having
the expertise of
tapping the
foreign markets
in the Asian
region
It will help
UTAS to attract
more foreign
students and
more revenue
turnover and
global identity
1 year

5MARKETING MIX ANALYSIS
Increasing the
profit margin
Will increase the
profit margin by
minimum 10
percent over the
current level
It can be
achieved with the
extensive
infrastructure of
UTAS
Increasing the
profit margin
will enhance the
operating
viability of
UTAS
1 year
Identification of the target market
Demographic variables
In terms of the age groups, the target market for UTAS is the students between 20 and 45.
This is due to the reason that students in the above teenage group are looking out for better
universities for their higher education. On the other hand, age groups up to 45 will be targeted
because there are huge part time students are opting for distance courses in the universities.
Thus, targeting these broad age groups will create more opportunities for UTAS. In terms of the
gender, UTAS will target the both female and male students as they promote co-education
system and gender equality. In terms of the social status, middle class and upper middle class and
upper class segments (Dholakia & Acciardo, 2014). This is due to the reason that as of now,
UTAS is targeting only the upper middle and upper class students, which is limiting their
business area. In this case, targeting the middle class segments will further broaden the business
areas. In terms of occupation, major target segments will be the students with not having direct
income or part time income. Religion will not be the selection criteria UTAS and no
discrimination will be done in terms of caste, religion and creed (Sia, 2013).

6MARKETING MIX ANALYSIS
Psychographic variables
Students seeking to have quality and world class education will be targeted because the
services process of UTAS will serve the students with same. Furthermore, the students with the
positive attitudes and ready to take new challenges will be targeted because in UTAS, they will
be challenged in every point of time in terms of their educational course. In terms of adoption,
early majority and late majority will be targeted because early majority will have higher
acceptances towards the new courses to be offered by UTAS and late majority segments will
ensure the higher business revenue for them (Schultz, Patti & Kitchen, 2013).
Consumption and usages pattern
Buyer motive of the students for UTAS is different to that of the other sections of
customers. This is due to the reason that UTAS is an educational institution and students are
investing not for business purposes. Hence, they are investing in expectation great learning
environment and future growth. Customer involvement will be high because costs and time are
involved in the buying decision process. Buying pattern is not frequent because each of the
courses is minimum of 2 years.
Geographic variables
Students from the major and emerging countries are targeted because students from the
string economies will have the affordability to opt for the foreign studies. In this case, the
segments from tier I cities will be tapped as these tier I cities are majorly metropolitan and
posses higher purchasing power and awareness. UTAS will mostly target the developing
countries such as India and China due to their thriving economies. On the other hand, market

7MARKETING MIX ANALYSIS
Higher course variants
Lower course variants
Higher reputationLower reputation
UTAS
Monash University
UNSW Sydney
RMIT University
penetration will be followed in targeting the domestic market because of the already extensive
presence of UTAS in the country.
Marketing and brand dimensions
Brand familiarity is high for UTAS because of their years of operating in this sector.
Moreover, the associated goodwill and positive word of mouth is also beneficial for UTAS in
gathering favorable responses in terms of the marketing campaigns. Brand loyalty will also be
considered in selecting and targeting the customer segments (Severi & Ling, 2013). This is due
to the reason that students with higher brand loyalty will be beneficial for UTAS in targeting the
further new customers by leveraging on their word of mouth.
Identification of the positioning strategy

8MARKETING MIX ANALYSIS
From the above positioning map, it can be concluded that the core services of UTAS will
be positioned on the basis of course variants and reputation in the market. Price will be used as
positioning criterion because it reduces the alternative options for the customers by providing
higher education quality at low price points. In addition, it should also be noted that the services
of UTAS will also be positioned on the basis of competitors due to the reason that this
positioning approach will help them to differentiate their services (Romaniuk & Nenycz-Thiel,
2013). Distinctive service offerings will help UTAS to stay competitive in the market. With the
extensive presence of UTAS in the Australian region, it is more suitable for them to gain higher
market presence and reputation over their competitors. The positioning statement of UTAS will
be “quality that can be afforded”.
Marketing mix strategies
Product
There are number of services and sub-branded services will be offered to the students in
UTAS. As of now, only the core services of educational aspects are fulfilled and it is
recommended that these sub-branded services will be increased. For instance, masters in
business administration are offered as a core service to the students and internships and
placements programs will be also be conducted. In addition, the grooming and confidence
building sessions with the students will also be conducted. These services will be positioned as
added services for the students and will be differentiated from their competitors. Hence, for the
money invested by the students, they are not only gaining the degree certificates but also
personal development (Payne, Frow & Eggert, 2017). This will ensure the maximum value
propositions for the students. Some of the service attributes for UTAS are quality, variants and

9MARKETING MIX ANALYSIS
deep assortments. In terms of quality, the world class standards being followed in delivering the
education services will help to differentiate with their competitors. In terms of variants, there are
various courses to be offered by UTAS from different streams. For example, courses from
commerce, science and arts streams will be offered. On the other hand, deeper assortments will
offer different types such as fast track courses, full time courses and distance courses will be
offered. Thus, the options to be offered to the students will be higher.
The name of the courses will be the same as existing portfolio of UTAS and will not be
changed. In comparison to the competitors of UTAS, the key differences are service variants and
assortments. This is due to the reason that UTAS will stay ahead in the competition in terms of
service variants. In addition, another differentiated feature between UTAS and their competitors
is the world class infrastructure (Payne & Frow, 2014). This refers to the fact that UTAS will
stay ahead from their competitors in terms of infrastructures. The major benefits to be gained by
the students will be the better personality and knowledge development and better career
opportunities. The value will be created for the students by getting them access to world class
infrastructure in affordable price points.
Services attributes Resulting consumer benefit
Quality Access to the better infrastructure and facilities
Varieties Advantages of selecting the best possible choice according to the
individual preferences
Assortment Advantages of convenience in the higher education
Price

10MARKETING MIX ANALYSIS
It is recommended that UTAS should follow market penetration pricing strategy in their
market operation. Market penetration pricing strategy refers to the offering of competitive price
points, which will increase the revenue and market presence for UTAS. However, in terms of
initiating market penetration pricing strategy, it should be noted that profit margin will be low,
which should be adjusted with the higher volume. Moreover, the final pricing of the courses of
UTAS to be offered will be based on the cost structure, which will further ensure the profit
margin for them. Thus, in terms of 3 Cs, the selling price will be determined on the basis of costs
and not on the basis customer and competitor (Awad et al. 2017). This is due to the reason that
determination on the selling price on the basis of costs will help to maintain the balance between
the costs and revenue structure. In the above section, it is identified that the marketing objective
of UTAS will to broaden their market presence and increase the new students. With the help of
the market penetration pricing, the service offerings of UTAS will be within the affordability of
the major global customer sections and thus higher volume can be achieved.
Promotion
Promotional strategies should be aligned with the marketing objective of UTAS. In
regards to the marketing objective of broadening the branding exposure and increasing the sales
potential, promotional mix will be discussed accordingly. The first medium to be used will be the
advertising. This is due to the reason that advertisement is the most core form of promotion and
reaching out to the market. The objective of the promotional strategy of UTAS will include
reaching out to the maximum customer segments and cover the global market and gain global
identity (Gangwar, Kumar & Rao, 2013). Both online and offline channels of advertising will be
used to have the maximum market reach and initiation of the Omni Channel promotion. Among
the offline channels, print media, television media and outdoor advertisements will be done and

11MARKETING MIX ANALYSIS
in terms of online channels, social media and online marketing will be used. Involvement of the
online and offline mediums will help UTAS to gain the maximum return from the market.
Media March April May June July Aug Sep Oct Nov Dec Jan Feb
Newspaper
and
educational
magazines
TV
commercials
Outdoors
Billboards
Social
media
marketing
Digital
marketing
Offline channels such as print and television commercials along with the digital
marketing will be initiated from the second half of the year. This is due to the reason that these
channels cannot help in gaining initial buzz for the service in the market. Thus, the channels such
as social media channels will be used in the first half to create the initial buzz about the service.
UTAS is an educational institute and thus they cannot run loyalty program as the other business
entities. However, the existing students will be given reference benefits for referring new ones.
Apart from advertising, only personal selling will be used, which will involve communicating
with the potential customers through telephone and emails (Adamopoulos & Todri, 2015). In
addition, visits by the student coordinator will also be included to create direct communication