EDA 7003 latest

Formulating Marketing
Strategy

HAMSHAHRIL BIN HAMDAN
NUR HANISAH BINTI MOHAMED FUZI
WAN MOHAMED ASYRAF BIN WAN AZMI
AMANI BINTI AWANG QAMARULDEEN

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TABLE OF Evaluating current offerings
CONTENTS
Identifying opportunities

Analyzing competition
Positioning the institution
Defining the market
Measuring current and future market
demand

Definitions of
marketing strategy

Selection of target market, the choice
of a competitive position and the
development of an effective marketing
mix to reach and serve the chosen
market.

1) Evaluating Current Offerings

Step of evaluating

Current offering

Limited Making decisions Evaluate Identifying
resources programs stronger program
They can’t About current major
program constitute an From time to For full support
support time while drawing fund
everything academic portfolio away from weaker
strategy
programs

Academic department

evaluated on

Centrality

01 to the school’s
mission
.

Market Viability Quality
of the educational
02 of the program
03institutions

Academic Portfolio Model
Centrality

High Medium Low

Phychology Home Economics
(MV – H) (MV – H)
High Decision : Decision :
 Build size  Build size
 Build quality  Build quality

Quality Medium Geography Classical Language
Low (MV – M) (MV – L)
Decision :
Decision :  Reduce size or
 Hold size
 Hold quality terminate

Philosophy (MV – L)

Decision :
 Reduce size
 Build quality



BCG Matrix

Use to determine future potential of a program / product

Stars Cash Cows Question Dogs
Marks
Require Require low Usually make
heavy investment and Institution has little money or
investment of to decide lose money.
resources. it produce whether to Institutions may
revenues to increase its decide to drop
support high or shrink dogs.
growth program investment to
increase it

market share

2) Identifying Opportunities

Program / Market Opportunity Matrix

1. Market 4. Product 7. Program
Penetration
modification Innovation

2. Geographical Expan 5. Modification 8. Geographic
sion for Dispersed Innovation
Markets
- New areas of city
- New cities
- Foreign

3. New markets 6. Modification 9. Total
for New Mark Innovation
Indivuals ets
- Senior citizen
- Homemaker
- Ethnic minoroties
A. Institution
- Business firms
- Social agenda

A blank nine - cell matrix considers existing prospects and “brainstorms”

additional ideas that would fit in each cell in terms of both programs and

markets

Market Penetrations 1 Geographical
Effective only if 2 Expansion

current market no Expanding college
saturated. into new geograpical

markets with existing

programs.

New Markets 3 Product
Offering existing modifications
programs to new
individual /institution 4 Modifiy current
programs o attract
markets. more existing market.

Modification for 5 Modification for New
Disperse Market 6 Markets
Program offered on
More realistic growth
military bases opportunity for most
educational
Program Innovation 7 institutions.
Developing new
Geographic
courses / departments 8 Innovation
/ programs.
Finding a new ways to
Total Innovation 9 serve new
Offering new program s to geographical areas.

new market.

Program / Market Opportunity Matrix

Help administrators imagine new
options in a systematic way

The 01 02Centrality Market
identified Viability
opportunities
must be 03 Course 04 Other
evaluated for features

their :

3) Analyzing Competition

Who are your
competitors?

Your competitor could be a
new business offering a
substitute or similar product
that makes your own
redundant.

Type of competitions

Administrators aware that they can’t afford to ignore competition :

For Student For Faculty For Donors
Compete with each Academic person compete Compete to arouse
other for the most the donor interest and
qualified student. with business and industry for obtain their supports.

job opening.

Benefits of competitions

For educational institutions

1 Attractive program
Encourages institutions to offer
attractive programs of the best
possible quality.

2 Unique strengths
Encourages institutions to
specialize to take advantage of
unique strengths and
circumstances.

Marketing assets

Used by educational institutions during competitions to attract others :

Program Well-qualified
uniqueness student

Program Price Convenience Reputation Faculty
quality

4) POSITIONING THE INSTITUTIONS

POSITIONING

• A describes how a person or group the institution in

• The institution may want to in line with recent changes

in its direction and programs, and more attractive to students, donors and others.

Steps in positioning strategy development

Assess Select desired Plan strategy to Implement
current position achieve desired strategy
position
position

Assess current position Select desired position Plan and Implement
Strategy
The institution must survey 1. Decide that its present
relevant groups that can make position is strong. Changing an institution's position in
such a comparison the academic marketplace is difficult
2. Develop a new or
clarified position . The institution must select an
appropriate position and then
3. Position the support that position by all means
school on a
available
new dimension
(where

appropriate)

Target Market Strategy

5) Defining the market Market Target
segments Marketing
A market is the set of all people who have an actual or
potential interest in a product or service and the ability Mass
to pay for it. Marketing

Different types of

consumers

(segments)

All of the

segments a few segments

A market could be
by age, sex, income, geography
and many other variables

Easy to change
colors.

You can simply
impress your
audience and add a
unique zing.

Easy to change
colors.

You can simply
impress your
audience and add a
unique zing.

5 PATTERNS OF MARKET COVERAGE

Single-segment Program/ product
concentration specialization
concentrating on
only one market Consists of deciding to
offer only one program
segment for all 3 markets.

Selective Market specialization Full coverage
specialization
Consists of deciding Consists of undertaking
Consists of working to serve only one m the full range of
in severals program arket segment with
markets that have no programs to serve all
relation to each other all the programs. the market segments.

except that each
constitutes an

individually attractive
opportunity.

6) MEASURING CURRENT & FUTURE MARKET DEMAND

Market demand describes the demand for a given product and who wants
to purchase it. This is determined by how willing consumers are to spend a
certain price on a particular good or service. As market demand increases,
so does price. When the demand decreases, price will go down as well.
• Current Market Demand. the maximum level of sales available to all the
firms in a market during a given period, with a given level of marketing
effort, and under a given set of market conditions.

• Future demand @ Demand Forecasting. It is a technique for
estimation of probable demand for a product or services in the
future. ... Therefore, in simple words, we can say that after
gathering information about various aspect of the market and
demand based on the past, an attempt may be made to estimate
future demand.

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