Establish and Adjust the Marketing Mix for Wentworth College Report

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AI Summary
This report provides a detailed analysis of the marketing mix for Wentworth Metro College, focusing on its products, services, pricing strategies, promotional methods, customer base, and distribution channels. It examines the college's mission, the key characteristics of its offerings, and how these elements are used to attract both domestic and international students. The report reviews the college's pricing policies, including product lining, service bundling, and price skimming, and analyzes the significance of various market outcomes. Furthermore, it identifies environmental factors impacting the marketing mix, assesses customer priorities, and evaluates the effectiveness of different marketing mix components. The report also explores how the college monitors and adjusts its marketing mix in response to market factors and consumer feedback, ensuring alignment with organizational objectives and desired market positioning. The report provides insights into the college's promotional activities through social media, spot admission days, and admission fairs.
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Running head: ESTABLISH AND ADJUST THE MARKETING MIX
Establish and Adjust the Marketing Mix
Student’s name:
Name of the university:
Author’s note:
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1ESTABLISH AND ADJUST THE MARKETING MIX
Executive Summary
This report demonstrates the ability, knowledge, and skills to evaluate each component of the
marketing mix and it determines the suitable marketing mix for specific markets as well as
adjusts and monitors the marketing mix. This report has found out the marketing mix of
Wentworth Metro College and it has considered the key characteristics of the services, prices,
places and promotional methods taken by the college. This college is situated in Sydney
Melbourne and it offers diploma level courses to the students around the world. It offers various
services like online portal access, accommodation, and faculties. This report shows the pricing
strategy of the college and it takes service-bundling. The promotional methods are mainly based
on online service providing. This report evaluates the contribution made towards the
organization's objectives, desired positioning and strategies. The target market of the college is
domestic and international students who come to Australia for further studies in Business and
Accounts. A marketing plan for marketing mix has been given in this report to show the
monitoring process of each components of marketing mix. Environmental factors in the
Australian college industry have also been shared to show the college's marketing objectives and
the promotional techniques.
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2ESTABLISH AND ADJUST THE MARKETING MIX
Table of Contents
Introduction......................................................................................................................................3
Part A...............................................................................................................................................3
1. Marketing of Wentworth Metro College’s products and services...............................................3
2. Identifying the key characteristics of the products and services and their significance to the
market..........................................................................................................................................5
3. Review pricing policy and analyse pricing variables to determine their effect on the market6
4. Analyse the significance of market outcomes of.........................................................................7
a. Promotional methods...............................................................................................................7
b. Customer base..........................................................................................................................7
c. Channels of distribution...........................................................................................................8
d. The level of customer service provided...................................................................................8
5. Establishing the marketing mix components...............................................................................9
a. Information on how each element of the marketing mix has been used..................................9
b. Analysing and testing their significance to each other and relevance to customer base.......10
Part B.............................................................................................................................................11
1) Identifying environmental factors and assessing their potential impact on the marketing mix 11
2) Identifying customer priorities, needs and preferences and the way they impact the marketing
mix.................................................................................................................................................12
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3ESTABLISH AND ADJUST THE MARKETING MIX
3) Considering product, pricing, promotional activities, distribution channels and service
variations........................................................................................................................................13
4) Analysing the marketing mix in relation to...............................................................................14
a) Select the most appropriate mix and explain your decision..................................................14
b) Evaluate marketing mix decision to ensure it meets organisational, strategic and operational
marketing objectives..................................................................................................................15
Part C.............................................................................................................................................18
1) Monitoring the performance of the organisation’s products and or services in order determine
which components should be tested..............................................................................................18
2) Evaluating the implications of altering one or more components of the marketing mix in
response to market factors and consumer response.......................................................................19
3) Adjusting components of the marketing mix in response to.....................................................20
a) Testing the results and evaluation of market response..........................................................20
b) Budget requirements..............................................................................................................21
c) Continuously meet organisational strategic objectives.........................................................21
d) Consistently maintaining operational marketing objectives and the desired market
positioning.................................................................................................................................23
Conclusion.....................................................................................................................................23
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4ESTABLISH AND ADJUST THE MARKETING MIX
Introduction
Marketing is the management process and with the help of marketing, products and
services move from concept to the consumers. Marketing is mainly used to make, keep and
satisfy the consumers. As stated by Armstrong et al. (2015), marketing involves promoting,
researching, distributing and selling of the services and products. Mainly marketing includes the
coordination of the four elements in it, product, price, place and promotions. In this report,
Wentworth Metro College is chosen in order to show the marketing mix as well as the
promotional method of this college. The aim of the report is to highlight the potential impact of
the marketing mix on the college and the effectiveness of customer service of the college.
Part A
1. Marketing of Wentworth Metro College’s products and services
The mission statement of Wentworth Metro College:
Wentworth Metro College seeks the exceptionally promising students around the world
and across the nations to educate them in accounts and business through social experience and
mental discipline.
Sydney Metro College is known as Wentworth Metro College as it is situated at
Wentworth. Sydney Metro College has opened its new branch at Melbourne CBD as well.
Wentworth Metro College offers the products to the students:
Textbooks and trade books
Reference books
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5ESTABLISH AND ADJUST THE MARKETING MIX
Art supplies
School and office supplies
Gift items and card or stationary items
Dorm room furnishing
Emblematic merchandise
Wentworth Metro College is also provided with the services like:
Special courses of Wentworth Metro College
(Certificate IV in Business, Diploma of Business, Advanced Diploma of Business,
Certificate IV of Accounting and Diploma of Accounting)
Wentworth Metro College Mailroom
Library access
Online learning facility
Accommodation
Wentworth Metro College provides these services and products to the students in order to
attract maximum students from Australia and from international spheres. In addition, they do the
marketing of the products and services through online modes like social media, e-mail and
websites. The college provides diploma and advanced diploma level courses for the students that
help the students to become job-ready. The special features of the courses and online help can
attract the students across the globe and this college has a well-maintained website from where
the students can get the information regarding applying process and library access
(Sydneymetrocollege.edu.au 2018).
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6ESTABLISH AND ADJUST THE MARKETING MIX
2. Identifying the key characteristics of the products and services and their significance to
the market
Wentworth Metro College provides products and services to the students who enrol their
names in the academic session. Academic session starts at a specific time in each year and the
duration of the courses are mainly 2.5 years; each of the courses has five semesters. For the
future students from international spheres, Wentworth Metro College provides special benefits
and attraction of giving the provision like making a bank account, OSHC, accommodation
facility in Australia and airport-picking facility (Sydneymetrocollege.edu.au 2018). Current
students of the college get the opportunity of SMC E-learning portal access, recognition of prior
learning facility, student support services and English language support services.
Therefore, it has been noticed, Wentworth Metro College provides various student
support services in order to increase the customer base. These products and services are
perishable and time has significance in the college offers. The students need to enrol the name
before all the seats are booked as service of the college is not used at the proper time, it may go
for one year. In Australia, especially in Sydney; there are so many business ad diploma levels
colleges. Service demand in education has a high degree of fluctuations and it many changes in
demand for a year or for an academic year. Therefore, Wentworth Metro College has high
demand during the beginning of the academic year and low demand in off period. As opined by
Huang and Sarigollu (2014), unlike a product, the service given by the organisation cannot be
touched, tasted or sensed before their availd. Wentworth Metro College provides various services
like library access, online portal and graduation handbook; however, students have to enrol the
name to get the access to these. Moreover, Wentworth Metro College provides personalised
service as well when the students come for enrolment. The students can get the added advantage
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7ESTABLISH AND ADJUST THE MARKETING MIX
of getting a scholarship. Therefore, according to Fan et al. (2015), some of the personalised
services must be created and consumed simultaneously.
3. Review pricing policy and analyse pricing variables to determine their effect on the
market
Wentworth Metro College has three main strategies for pricing. The first strategy is
product lining through which Wentworth Metro College sets the price steps between product line
items. Therefore, using high-low pricing can be an effective strategy when it comes to offering
the premium students from the international sphere. It gives this college to same or rather higher
pricing than the other competitor colleges in the market. In addition, service bundling refers to
when the customers are given a deal or discount when they make a larger purchase rather than
just one service (Hanssens et al. 2014). Therefore, Wentworth Metro College provides a special
discount on the overall academic fees when the students book various services from the college
like a handbook, academic fees, online portal access, accommodation and transportation. Lastly,
price skimming is all about making the service or products pricing higher initially and
Wentworth Metro College uses the strategy because of its brand image in the market.
Wentworth Metro College provides various types payment features and this college
provides financial assistance to the students as well. The college also offers accommodation to
the students in Sydney. Wentworth Metro College uses the pricing variables like discount
percentage, agreements with the students over phone calls, the residual value of the service
psychological elements of advertising and competitive pricing. Estimated total cost of studying
in this college is AU$3,400 for 23 weeks courses (sydneymetrocollege.edu.au 2014).
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8ESTABLISH AND ADJUST THE MARKETING MIX
4. Analyse the significance of market outcomes of:
a. Promotional methods
Wentworth Metro College has been active in the social networking sites in order to reach
the students across the globes. Promotional activities through social media and online platform
are cost-effective for any colleges and universities (Helm and Gritsch 2014). The colleges cannot
use any billboards and hoardings as these are a very costly way of communication to the
students. In addition, Wentworth Metro College has its social networking page on Facebook,
Twitter, Instagram and Google Plus. The PR team of Wentworth Metro College is active on
social media pages to answer the queries of the students.
In addition, Wentworth Metro College does spot admission day once in a year and the
college asks the students to visit the spot admission day to enrol their names. In addition, this
college does events like admission fair where the students can get the prospectus of the college
and get the ideas of fees structure. Wentworth Metro College tries to be unique and original in
the content of the ads when they provide the print advertisement in newspapers. Sometimes, the
college tries to give contests to the students and first few students get the chance to win
scholarship when studying at the college.
b. Customer base
In the year 2017, almost 800 million international students came to Australia for higher
studies. Therefore, the student market is large in Australia and colleges try to book all the seats
as possible. The students like to study in higher education, ELICOS, vocational education and
school education. The customer base of Wentworth College is based on the domestic students
and international students as well. This is a private institution and it offers mainly three types of
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9ESTABLISH AND ADJUST THE MARKETING MIX
courses. This college allows 164 students per class as they maintain a good ratio of students and
faculty in the class.
c. Channels of distribution
Channel of distribution is important to the organisations as it is one of the components of
marketing mix through which the consumers get the goods. Distribution channel refers to the
path or route through which the services can travel to the customers. For the colleges like
Wentworth Metro College, it does Business-to-Customer distribution of the service as it does not
use any kind of middleman inside this. The distribution of service of education, giving
prospectus, giving accommodation to the students all is done directly to the students. Marketing
intermediaries are not needed for Wentworth Metro College as this college often outsource
distribution of the prospectus and forms through online mode.
d. The level of customer service provided
Wentworth Metro College provides best possible for customers service as it is a private
institution and it has to attract the customers in order to book all the seats. Firstly, this college
checks the entry requirements for the students when the students call or text them to ask for
admission.
In addition, Wentworth Metro College asks for the Visas whether the students have this
or not. If the students do not have Visas, the college helps the students to make a Visa for them.
Wentworth Metro College provides overseas student health cover (OSHC) when the
students arrive in Australia (Sydneymetrocollege.edu.au 2018).
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10ESTABLISH AND ADJUST THE MARKETING MIX
The college provides accommodation facility to the students in Australia who come
outside of Australia. For the candidates who come to take the admission to college, the college
provides Airport Pick-up.
The college helps the foreign students and domestic students to open the bank accounts
for them.
Apart from the future students, the current college students can get the facility of e-
learning facility and the student support services from the executive team. In addition, the
college provides student handbook to the students where the students can get the facility of
English Language Support and academic season help.
5. Establishing the marketing mix components
a. Information on how each element of the marketing mix has been used
Product: Wentworth Metro College offers various products like textbooks and trade
books, reference books, gift items and card or stationary items and dorm room furnishing. Apart
from the products, the organisation provides the facility of the services like a diploma and
advanced diploma courses for the students across the globes. Extra services are provided to the
students like, of e-learning, qualifications, Recognition of Prior Learning and English Language
Support.
Price: The College takes product-line strategy as this college provides a group of related
products under the same brand sold by the college. Wentworth Metro College tries to expand the
offering by adding extra value to the service and products. The product line strategy is associated
with product bundling strategy where the customers like to have all the services as the college
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11ESTABLISH AND ADJUST THE MARKETING MIX
gives a discount when taking all the services at a time. The students need to buy service and
products from the college which are familiar to the students. The college takes money at the time
of admission and during the semester.
Place: Wentworth Metro College is near Sydney and it has another branch at Melbourne.
The place of the college gives extra significance to the students and it adds values to the college.
The students can access the students’ portal through online also.
Promotion: Wentworth Metro College uses mainly the social media and online
promotional strategies. The admission date and the semester dates are shared by the PR team
through the official website of the college and online media. In addition, this college uses the
events like Spot Admission and Admission Fair in order to attract the students. The college
students are provided accommodation to Australia.
b. Analysing and testing their significance to each other and relevance to the customer base
The customers of this college are students who come from the foreign universities. The
marketing mix helps to create mix creation for the organisation as all the activities of marketing
are directly mixed up with each other (Menon et al. 2015). Wentworth Metro College provides
best three courses for the students and they take the competitive pricing for the courses. The
places of the campuses are close to the urban sections where the students can easily access to
transportation. The online mode of education of the college helps the students to solve their
doubt. This extra facility of the college would help it to gain the maximum revenue in coming
years. Marketing mix also helps to develop new service for the students and they can learn from
the competitors in the market as well. Marketing mix assists to increase the service and product
portfolio in the market and it is a guide to develop a business (Baker 2014).
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12ESTABLISH AND ADJUST THE MARKETING MIX
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13ESTABLISH AND ADJUST THE MARKETING MIX
Part B
1) Identifying environmental factors and assessing their potential impact on the marketing
mix
Political condition in Australia is stable at present as the political condition can impact on
students' visit in a country. Education industry in Australia is depended on the students coming
from the foreign countries and maximum faculties also come from foreign countries. Stable
economy helps students to take the decision of coming to Australia. Colleges and schools being
privatised in Australia and government initiatives create the risks to change the skills required to
be a teacher. The government policies help to create new services and products for the students
and stable government rule can attract more students.
In addition, GDP in Australia is $1.390 trillion and growth of GDP in recent time is
0.6%. An inflation rate of Australia is 1.8% (Favaloro 2017). Therefore, the economic condition
shows the picture of the development of the country and students are gaining faith to visit
Australia for further studies. The interest rate is getting lower for the students visit in Australia
and students can get education loan also over here.
Moreover, the social factors lie within the diversified people in Australia as there are
wide ranges of languages already used in Australia. The people live in Australia also come from
diverse sections of the world. The education level is increased in Australia. Therefore, the
foreign students come to Australia for continuing the studies and existing students read in
various universities and colleges.
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14ESTABLISH AND ADJUST THE MARKETING MIX
As stated by Pucciarelli and Kaplan (2016), various universities and colleges use the
technological innovation in classrooms and they have taken the education from classrooms to the
online portal. Classrooms have the features of projectors, computers and student-friendly
technologies that may help the students. Changes to equipment required to open up the
technologies as new computer virus may impact the operation in wrong way. ICT technologies
should use in a responsible manner (Solomon et al. 2017). Higher technological development
means spending more money on development of the colleges; therefore, the colleges can impose
extra money for this to the students.
In Australia, legislative requirements must be fulfilled in the right way by the colleges
and universities. The educational institutions cannot go out of the legal framework. As stated by
Wu and Naidoo (2016), new legislation may bring risks of non-compliance with the laws and it
may create a new administrative burden. The regulation in Australia tries to secure the students'
future and health and safety of the students. The regulation focuses to provide the equal right to
the faculties of the college with minimum wage requirements and age discrimination. The legal
framework sets the promotional activities of the colleges.
Lastly, the colleges and universities are aware of the facts of weather and climate change.
The educational institutions need to support the global warming and climate change issue. Waste
disposal, changes to highway route may cause the effect to the colleges and the students as well.
2) Identifying customer priorities, needs and preferences and the way they impact the
marketing mix
Target customers Priorities, preferences and needs
Domestic students Online mode of studying
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15ESTABLISH AND ADJUST THE MARKETING MIX
Living in Australia
Accommodation near the college
Scholarship
Best courses
Discount on fees structure and flexible payment system
International students Online help
The campus must be near urban areas
Students must hear about this
The students can hang out with friends
Transportation facility
Table 1: Identifying customers’ priorities
(Source: Self-developed)
From the above table, it is observed that international students mainly focus on the best
courses, accommodation facility, discount on fees, online mode of studying and living in
Australia with visas. Domestic students mainly want online help, campus near urban section,
famous name and transportation facility. Therefore, in the marketing mix, the products and
service should focus on the online availability of the education courses and service. All the
information must be available online. The pricing strategy must be taken taking into
consideration the competition and the fees structure must be flexible (Andy and Wali 2018). The
place of the college must be in right area where the transportation is available. In addition,
promotional activities must be done in order to reach international students and print media
advertisement helps to reach domestic students.
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16ESTABLISH AND ADJUST THE MARKETING MIX
3) Considering product, pricing, promotional activities, distribution channels and service
variations
Wentworth Metro College can add additional products and service in order to fulfil their
business objectives. The target market of the organisation is the students from the domestic and
international sphere. New service of the organisation needs to fulfil the desires of the students.
The pricing strategy needs to be competitive. The college can keep the fees of the college low in
order to meet the organisational goal. The college can take the promotional activities on social
media and online platform so that the students can take help from this. Wentworth College can
do the event so that the people can notice the new strategy of the organisation. The distribution
channels of the service will be direct and the college will promote the new product or service by
itself (Casidy 2014). The direct distribution of the products and services to the students will
eventually help the students to get to know about the offerings.
Moreover, in order to be competitive in the market, Wentworth Metro College needs to
do the service variations. The service of the organisations needs to be diversified in order to meet
the students’ desires. The services of the college must meet the desire of the students and
students’ friendly services can help the college to provide service variation.
4) Analysing the marketing mix in relation to:
a) Select the most appropriate mix and explain your decision
Product: Wentworth Metro College provides courses to do the diploma and advanced
diploma in accounting, business and pathways. In addition, it provides e-learning access to
current students. The future students can get visas with the help of college and they can have
OSHC as well. The students can get accommodation in Australia and the college provides airport
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17ESTABLISH AND ADJUST THE MARKETING MIX
pick-up. The college help to open a bank account to the foreign university students. The
additional feature that the college is going to provide is transportation facility for the students
who live nearby places. This transportation service will help the students to reach the college on
time and the students need to wait at a particular place at the particular time in order to access the
system (Zhang and Serra 2014).
Price: Wentworth Metro College takes the product-bundling strategy where the price
needs to be given as a bundle with other products and then the customers can have the offer.
Moreover, Wentworth Metro College offers the various service and products in a bundle. New
transportation service for the students will be charged in every month if the students take the
transportation facility. The college takes price skimming strategy where price is kept a bit high
and the price gets lower with the time.
Place: Wentworth Metro College has two branches in Australia, one is in Sydney and
another one is in Melbourne. Two places have good value to the students as maximum numbers
of the students in Melbourne and Sydney come from foreign countries. The students can access
the online portal of the college from anywhere.
Promotions: Wentworth Metro College does the promotion through the social
networking sites and online platform. The promotional strategy of Wentworth Metro College can
be done through using the college website. The PR team of the college can take the strategy of
SEO in the online portal so that the college website traffic can increase. The students can get the
news of new offerings and services through the events as well. Event management is a costly
decision for the organisation; however, social networking and online media are cost-effective.
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18ESTABLISH AND ADJUST THE MARKETING MIX
b) Evaluate marketing mix decision to ensure it meets organisational, strategic and
operational marketing objectives
Wentworth Metro College provides the services that the students want and the customer
values of the organisation are high. The services and products of the college can help the
organisation to attract the students. In addition, the price skimming and competitive pricing
strategy would help the organisation to eliminate the competition and the students will purchase
the bunch of services and products. The strategic objective of the organisation is to fill all the
seats of the classes and to reach maximum numbers of students. The operational objective of the
college is to earn a high profit for the organisation in order to maximise the revenue. The
marketing mix will provide the benefit to add additional products and service to increase the
numbers of customer’s base. The promotional technique helps to create right marketing with
effective strategy (Yildiz and Kara 2017). Marketing mix helps to determine the right strategy
that assists to find out the marketing plan for the target market.
Strategic objectives of Wentworth Metro College:
To provide the best education service to master the students in their career
To increase the quantity, quality and impact of research, scholarship and innovation
To provide an educational experience that defines international best practices
To attract and retain excellent and diverse cohort students
To build our engagement locally, nationally and internationally
Operational objectives of Wentworth Metro College:
Specific Improvement in the teaching quality and learning assessment
Measurable This can be measured through the feedback of the students
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19ESTABLISH AND ADJUST THE MARKETING MIX
Achievable Learners’ responses and faculties’ special initiative can help this
Realistic This objective is realistic as it can share the good practice activities with
better teaching quality
Time-bound This can be achieved within 6 months
Table 2: SMART operational objective
(Source: Self-developed)
Specific Continuously develop the curriculum that must be responsive to the needs
of all stakeholders
Measurable This can be measured through the annual review and internally target set
Achievable This can be achieved through the review of mid-term and long-term
support
Realistic This objective is realistic to develop the appropriate and high-quality short-
courses
Time-bound This can be achieved within 12 months
Table 3: SMART operational objective
(Source: Self-developed)
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20ESTABLISH AND ADJUST THE MARKETING MIX
Part C
1) Monitoring the performance of the organisation’s products and or services in order
determine which components should be tested
Wentworth Metro College mandate the performance data and they measure the data using
feedback from the students, diploma passed out and the staffs of the college.
Key Performance Indicators of the college are as follows:
Diploma passed out the satisfaction of the students is the first measure for the college's
KPI. The students who passed out from the college can provide the feedback to other
students whether they should admit in this college for securing future or not. Diploma
passed out can provide actual feedback on the performance of the college.
Employer satisfaction is all about diploma passed out student's performance that they
learn from the faculties of the college. The students of the college learn many Accounts,
Finance and Business related things and then apply those to their professional lives. The
employers of the students get to know about the performance of the students.
The students who are currently reading in this college can provide actual information
regarding college's services and products. The students can provide an actual
performance of the college regarding employer's assistance, online teaching and the
library access. The current students can get the service of accommodation in Australia.
Successful passed out rate can also be defined the performance of Wentworth Metro
College. The college can be reviewed by the successful students who are produced by
the college each year.
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21ESTABLISH AND ADJUST THE MARKETING MIX
2) Evaluating the implications of altering one or more components of the marketing mix in
response to market factors and consumer response
Australian College education industry has accelerated at an unprecedented rate in the last
few years at CAGR report has shown the growth of 11% in the period of 2010-2017 (Carter
2017). Colleges have more than millions of enrolled students and colleges employ over 10,000
staffs. International education is the largest service export in Australia. Australia’s regional
colleges play an important role in supporting the regional economies. Wentworth Metro College
is situated in Sydney and the place is accurate for the promotional activities to attract the
students. Wentworth Metro College stimulates the innovation and it delivers the solutions to the
demographic challenges, economic and social that the college has been facing.
Wentworth Metro College mainly attracts the students from various countries as
international students are the target market of the college. In this regard, the college can alter the
strategy of product or service bundling as the pricing strategy and they can take the lower pricing
strategy in the industry. The international students would check the prices over the internet and
they would find the lower pricing with excellent amenities provided by the college, therefore,
they will be attracted to the college (Shen et al. 2016). The competitive pricing will always
attract the students and current scenario in the global education does not support huge spending
on education, accommodation and student spending.
In order to attract the domestic students across the different regional parts of Australia,
the college can use Out-of-home (OOH) promotional activities. This type of promotion is costlier
than other modes; however, the students can easily notice this. Colleges are significant
contributors to the local communities by providing local employment as well if large numbers of
students enrol in this college, the college can provide employment service to the individuals.
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22ESTABLISH AND ADJUST THE MARKETING MIX
Out-of-home promotional activities can attract large students as students can find the names of
the college on billboards and hoardings and this will enhance the brand image of the college
(Zhao et al. 2016). The college needs to highlight the basic services and facilities they are
providing to the students.
3) Adjusting components of the marketing mix in response to:
a) Testing the results and evaluation of market response
International students in Australia mounted up almost 15% in the year 2017 as almost
480,000 international students were enrolled in Australia in 2017, March (Raska et al. 2017).
This figure was for universities as well as training and diploma courses as well. Therefore, the
current market trend in higher education in Australia shows positive market growth and the
colleges can take the promotional activities and lower pricing strategies in order to attract the
students from different nations. Overall, 11% students are from India, 30% students are from
China and 4% students are from Vietnam and Malaysia. Therefore, Asian students are more in
numbers. This market condition in Australia gave potential economic growth of AUD 22.4
billion in income where only higher education students are taken into consideration (Belch et al.
2016). Wentworth Metro College needs to take this advantage of a market in order to attract the
students from Asian countries offering best courses, services and products.
Market responses are good as the students from Asian countries cannot spend much
money and they are depended on scholarships and lower pricing courses that provide academic
degrees to them. In addition, the Website of Wentworth Metro College must be world class
where it must mention the services and courses it offers to the students. Competitive lower
pricing strategies will be perfect for the college where the college will offer the diploma courses
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23ESTABLISH AND ADJUST THE MARKETING MIX
to the students with competitive expenses. In addition, out-of-home (OOH) promotional
activities will also offer an attraction to the domestic students and it will provide the brand image
to the students (Luxton et al. 2015).
b) Budget requirements
In millions (AUD) 2019 2020 2021
Revenues 1.90 2.10 2.40
Organisation –
operated margin
.56 .58 .62
Improved services and
facilities
.20 .24 .30
General and
administrative
expenses
.15 .19 .24
Operating expenses .34 .45 .56
Promotional activities .60 .70 .75.
Net income 1.45 1.90 2.20
Table 4: Budget requirements of Wentworth Metro College
(Source: Self-developed)
c) Continuously meet organisational strategic objectives
Strategic objectives of the Wentworth Metro College are:
To increase the quantity, quality and impact of research, scholarship and innovation
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24ESTABLISH AND ADJUST THE MARKETING MIX
Wentworth Metro College always strives to increase the numbers of scholarships to the students
so that they can reduce the burden of expenses. In addition, quality faculties and services to the
students will eventually increase the quality and quantity of the research and scholarships.
International students will be attracted through the innovation.
To provide an educational experience that defines international best practices
International best practices of the education are mentioned on the website of the college and the
students across the Asian countries will be attracted towards the services and products of the
college. The prices of the services are also mentioned on the college website and it can define the
international best practice.
To attract and retain excellent and diverse cohort students
The Marketing Mix of Wentworth Metro College defines promotional activities to attract the
students and it sets the pricing low in order to retain and attract the maximum candidates.
Wentworth Metro College offers the best courses in diploma and advanced diploma; therefore,
the faculties can teach the students the best knowledge.
To build our engagement locally, nationally and internationally
Not only the international students, but the college is going to attract the domestic students as
well through the out-of-home advertising. This will increase the brand value of the college as
well.
The business strategies of Wentworth Metro College will be:
Service consistency that is promised
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25ESTABLISH AND ADJUST THE MARKETING MIX
Low and competitive pricing of the courses
Out-of-home advertising as part of promotional activities
Rebuild the branding strategy
d) Consistently maintaining operational marketing objectives and desired market
positioning
Operational marketing objectives:
Quality service: Wentworth Metro College can provide quality service through
improvement of quality teaching. This college can provide a minimum threshold of marks
percentage in order to gain teaching and learning.
Student satisfaction: The students can get satisfaction through the curriculum that is
responsive to the needs of the students. The college provides satisfaction to the students
regarding accommodation facility, online portal service and transportation. Curriculum change in
diploma courses helps the students regarding the appropriate level of employment.
Desired Market positioning:
Wentworth Metro College can draft a positioning statement where they need to mention
in which field the company is excelling. Wentworth Metro College can compare and contrast its
own uniqueness and it can make differences between strategy and communication. This college
can do competitor’s analysis in order to show the USP of the competitors. Wentworth Metro
College can determine the current position and test the effectiveness of the current brand
positioning. Marketing positioning that Wentworth Metro College wants is to target the
international and domestic students through brand positioning.
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26ESTABLISH AND ADJUST THE MARKETING MIX
Conclusion
It has been observed that Wentworth Metro College provides diploma and advanced
diploma courses to the students. The management team of this college identifies the
characteristics of products or services to show the significance of market in order to review the
pricing policies. The pricing policies of this college are based on product or service bundling and
variables in the Australian market are depended on mainly international students. Promotional
activities that the college mainly do are social media, events and using online platform. In
addition, customer services of Wentworth Metro College are famous for attitudes towards the
future candidates’ like providing Visa, airport pick-up facility and opening bank account.
Therefore, the marketing mix of the college shows the marketing objectives and target market
characteristics to point out the target market positioning.
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27ESTABLISH AND ADJUST THE MARKETING MIX
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