Marketing Strategy Analysis of the Nirwana Education Group

by darshy101010gmailcom (student)

University Degree Business and Administrative studies

Report: Marketing Strategy Analysis on The Education Group

Background of Organisation

This report is focused on The Education Group, and the requirement of having a bachelor’s degree programmes and the ability to provide homegrown degree programmes via its status as a University College. They do have a range of institutions which runs several different levels of programmes but do not have a university college for students to be able to pursue their bachelor’s degree. Their headquarters serve as the central location for operations.

All business activities, decisions, support and services originate from here. The headquarters is also the home of their administration centre. The Education Group started as a small education institution which ran a franchise programme, which grew into a centre providing pre university programmes, diploma programmes, and distant learning programmes.

The Distant Learning Programme was an optional system offered to their students upon completion of their pre university programme and diploma programme. Here most students upon completing their pre university and diploma programme opt for foreign universities to complete their Bachelor’s degree as the option of completing their Bachelor’s degree in The Education Group is limited. The number of students who have used the option provided from the Year 2015 to 2020 would be more 3000 students (Archive, student’s centre 2020). Upon considering the number of students who have opted to travel overseas to complete their bachelor’s degree and studies pathway, the GMD and his directors are now keen to retain their students to complete their bachelor’s degree within The Education Group itself.

This report documents this new marketing strategy. Methodology In order to compile this report there was a need to have had to conduct a large amount of research. This consisted of a number of primary techniques.

Firstly, interviewed the Group Managing Director (GMD), he administers and decides on The Education Groups’ expansion plans at every level. He provided a large amount of first-hand information and was invaluable. He was also able to provide me with a large amount of information about the current system and this has been included in the appendices.

GMD would also sit through certain aspects of the marketing strategy plan. Managed to speak with Director of Administration and Operations (DOAO) and the Director of Marketing (DOM) at length. Both, DOAO & DOM have strongly been involved with the marketing planning processes related to this project.

These two people ensure that the information provided for the systems currently in place is of the highest quality. Spoke on the telephone to a number of students who are currently pursuing their education on various levels on their thoughts about the process of this new marketing initiative.

Whilst this was mainly anecdotal, it did provide a good understanding of the impressions of these stakeholders. This research, whilst truthful, must be taken with a pinch of salt, as they are largely opinion based. I also used a number of textbooks, listed in the Reference and Bibliography written by respected authors on Marketing, Resource and Strategic Management in Practice. This is secondary research, but of good quality. Finally, I used a number of web resources as another form of secondary research to back up and reinforce ideas, theories and models.

Where possible I have cross referenced information to ensure data accuracy before including it in this report.

Existing Business Plans and Strategies in The Education Group and the Risk and Competitive Position for the Organisation and a Suitable Management Strategy Plan.

This report would first analyse the existing business plans and strategies of The Education Group and then go on to propose, evaluate and select a new service to ensure a successful growth for The Education Group. The risks and competitive position for The Education Group and its factors that could potentially drive the need to develop a suitable strategy plan for the new marketing initiative. It would be able to analyse that using BCG analysis. The result of this was that it was identified that an appropriate business strategy is an important asset to ensure a successful implementation of a marketing strategy and the success to launch the new service or programme provided by the Education Group.

By recognising this opportunity, a viable opportunity has arisen. to develop its own all three-year Degree Programme internally, rather than paying a Moderation and Validation fee for each programme collaborated with a foreign university which plays a role as an awarding body. The Education Group would now like to provide education services platform from a college-based education institution to a university college status henceforth providing a homegrown programme for students locally and internationally.

In order to implement this new education service, research was required into how it would be best to implement it. Reviewing the existing business plans and strategies for The Education Group would be needed.

The Nirwana Education Group has a strong existing business plan that are to produce competent graduates to fulfil national and international manpower needs. The Group also aims to encourage the globalisation in the student population by attracting foreign students to join their prestigious university. They also aim to provide opportunities to deserving students by provide funding in forms of scholarship and sponsorship. They also would like to offer adequate and quality higher education infrastructure, bench marking with the best practices adopted internationally and to enhance strategic alliances with local and foreign higher education institutions, and to venture into the field of research, development and commercialization. Their ultimate aim is to maintain and further enhance The Education Group as a Centre of Excellence for Higher Education.

Strategic planning for The Education Group is to formulate and implement new initiatives to ensure better business growth. Strategic planning can be profitable or non-profitable in nature. Non-profitable planning refers to the various Corporate Social Responsibilities the Education Group would participate to ensure satisfaction between stakeholders.

Market competitiveness is happening all around us without us knowing it. The recent economic downturn has caused chaos in organisations which have been forced to react rather than be proactive, and while the economic crisis may be something few could have predicted, it is not the norm. Being able to identify the drivers for change are essential in order for you to spot the necessity for making change happen, and also to determine exactly how you will combat these drivers and produce an effective marketing plan.

Upon considering a number of models the BCG model is selected as the main model to follow. To help attain this, it is important that analysing, planning and select strategy team is created for a smooth communication process in order to gain stakeholders commitment to the plan. This team at the very least should contain at least 2 very reliable employee or heads of the two key departments. It should also contain a company director, to keep the board informed and ensure proper alignment and information for the need for change throughout the organisation, from the top down. Guided by its mission, objectives and strategy, The Education Group must now plan its business portfolio. The business portfolio would be the business that would make up the organisation. This could be done with a thorough analysis on the strengths, weaknesses and the opportunities in the surrounding circumstances. In order to ensure a progressive growth, The Education Group would need to analyse its current business portfolio to ensure the current initiative would require less or same amount of investment and to develop and ensure a strong growth for the service to be provided henceforth.

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This could be seen in the stakeholder’s view, whereby to attain financials profits to the shareholders or owners through revenues but in contrast to the earlier view profits will not be the sole responsibility of an organization. This would not be defined as a personal interest of profit growth instead in terms of competence of advantages for both personal interest and the social order that The Education Group is set in. The validation for society-based inclusion is that of The Education Group’s reputation is important for its long-term financial progression. An operative CSR policy will fill all characteristics of processes. The initiative The Education Group take today to incorporate CSR throughout the organization represent a real point of diversity and competitive market advantage on which future accomplishment will be established. The Education Group not only have accountability to their shareholders but also have a accountability for well-proportioned association with other stakeholders both internally and externally. As the organisation’s stakeholders interest gets broader the organizations social responsibility gets broader. There is a straight connection between clearness of purpose and honor of purpose to be fully active, staff must be happy and confident as well as clear about what they are asked to do. Students and parents must be happy that they are enagaing good quality education from a reputable university college. The community must be happy that it is supporting a principled and sound organization. (Contemporary Strategic Management- R.Pettinger, page 317). A change vision was developed which falls in line with the overall vision of The Education Group. In order to maintain the excellent levels of education services and the benefits of our highly effective education system, there’s a need to develop our very own programmes which would enable students to pursue their bachelor’s degree locally in Malaysia.

The Education Group to centralise their processes and save costs for themselves and their potential students, registered agents, parents and many more and allow us to continue to develop our excellent position in the education market. This must be completed before the next academy year. In order to achieve this vision a series of SMART objectives were produced which led to the creation of a project plan. The plan consisted of the work plans and steps required in order to meet the required objectives. This project plan allowed detailed timescales to be assessed and set to ensure that the project remains timely. Using a tool like this allows the project to be closely monitored, and it assigns responsibility to various parties to empower them to complete the work.

Strategic Planning's Function

A strategic plan is used by any organization for-profit or nonprofit to create goals as well as to evaluation actions. It can vary from a year to 5 years. These goals are the initial main differences in for-profit and nonprofit organizations' strategic plans. The goal of a for-profit company is to return dividends to shareholders or profit to owners over time. The goal of a nonprofit is to further its mission, which comprises making sufficient money to stay to operate

Similar Planning Tools

both types of organization might use a SWOT analysis to regulate strengths, weaknesses, opportunities and threats and establish goals and objectives for the organization. There are various other planning tools, but both for-profits and nonprofits choose a stage by stage process that helps them evaluate corporate operations and establish long and short-term goals and objectives.

Different Participant Makeup

For-profit corporations count on on employees and consultants, people in the company's employ, to help do the analyses and create the visions. Nonprofits usually invite outside stakeholders, those who support or benefit from the organization's work, to participate in strategic planning.

Review by Board

In a for-profit corporation, the board of directors creates common policy and the management and staff fill in the particulars along with references about how the goals should be accomplished. Nonprofit board members often have a bigger role to play. Whether the organization is for-profit or nonprofit, the board of directors has the final say in accepting a strategic plan.

In order to monitor progress throughout the project, regular meetings of the team are needed as this maintains the urgency required, and ensures the stakeholders needs and expectation are always met.

The BCG Matrix would be used to evaluate the existing strategies used by The Education Group. These four areas of BCG matrix growth rate in terms of The Education Group are explained (Schneiders, 2010). The first one being the Stars, are those business units which shows high growth rate and also has high market share value attach to it. It is always beneficial for the organisation to invest in such units. As such being providing an education platform as a university college would be a star in this context. The marketing plan from college to university college should be taken. The second one being the Question Mark are those business units who has high growth rate but low market share value which is seen in The Education Groups’ Certificate programmes as such programme which has not been able to establish on global platform. Though it has huge potential and thus growth rate is high, but because The Education Group faces issues with ecosystem, they are not able to penetrate the required market. The third one being Dogs are those business units which neither have high growth rate nor do their value of market share is high which can be witnessed in The Education Groups’ Diploma programmes. Diploma programmes lost its appeal due to high competition and requirement enhancements. The last one being Cash Cows are those business units which have been in the market for longer period and hence their growth rate is slow but because of brand value, the market share have high value. Currently, degree programmes with reasonable fee is in this section. A review on the Ansoff’s Growth Matrix shows a analysis that shows the current Market Penetration whereby presently, recruiting more students following existing courses and models. In the Present and New section, Market Development whereby an expansion of existing courses and models of new groups and non-traditional learners. Market Development in the New Section is the Expansion of existing courses and models of new groups and nontraditional learners. Lastly, under the new and new section, Diversification Development of new courses and models for new groups of students.

The current administration, there are a few areas of resources and constraints that needs to be fulfilled to ensure a smooth and proper implementation of the marketing plan adhering towards the guidelines set by the Ministry of Higher Education Malaysia. Identifying these resource management constraints is part of the process of a successful marketing startegy. Resource constraints are barriers that can derail the marketing initiative and prevent successful implementation of the marketing strategy.

The first once being the financial viability would be crucial towards the new marketing initiative the paid-up capital, a Fundamental Institution must have at least RM 15 million paid up capital. Profitability wise, a Fundamental Institution must be profitable in the last 3 consecutive years. An Annual budget it is very important as Institution must submit the forecasted annual budget for the following 3 years after being upgraded to University College and annual budget record for the past 3 years.

Maturity of institution is also considered as part of the marketing plan. Years of operation is Important as the Institution must have been in operation for at least 5 years at College level.

To Ensure an excellent track record and to be offence free is one of the very important criteria that needs to be proven by the institution.

A clearly defined Mission and vision, documented and clearly communicated to all is a must. The Education Group must show strategic plan for the next 3 years after being upgraded to University College. Key Performance Indicator (KPI) is also important as The Education Group must show the KPI for academic and non-academic staff for the next 2 years after being upgraded to University College.

The Education Group must have QC unit and committee for the last 3 consecutive years. Internal quality control mechanism and certificate is important and a mechanism must be in place and must obtain certification, such as ISO certificate and the likes acceptable by MOHE.

Appropriate and conducive campus as to prove a genuine intention on the part of PHEIs in 3 years after being upgraded.

Multiracial participation in employees for both academic and non academic as well as student’s enrolment would also be a crucial point in the guidelines for the required transition.

The Education Group must separate governing bodies (Board of Directors for the business sector and Board of Governors for the academic sector).

Percentage of international students Important At least 20% of the student enrolment must be international students from at least 3 different countries. There must also be an appropriate number or international lecturers to ensure a stable count is obtained.

Fees refund policy must be clearly defined, documented and clearly communicated fees refund policy to all staff and students. Office of student’s affair and student’s welfare and accommodation must be provided appropriately and reasonably.

The Constraints under the current education system, a foreign university would charge for the degree transfer or an additional diploma recognition for existing programmes. This is considered as an additional cost that could be eradicated by a transition from a college to a university.

Due to the critical importance of the dual awards and bachelor’s degree pathway education system, this is clearly a weakness in the fact that if there isn’t a pathway for a student to pursue their education.

The potential costs of both factors could be huge. This would result in huge Human Resources costs as the employees would have to do this. Equally, the time delay it takes for students to be given an option to receive an appropriate education pathway and value-added certifications which means that The Education Group could miss sales opportunities in the highly competitive education market, resulting in fewer student registrations, and eventually lesser parents and agents would recommend The Education Groups’ education programme. Here, an Implementation of Porters Five Force Model with The Education Group, includes , Capacity of the supplier which would come in the form of lecturers wages and infrastructure to ensure quality is attained. Next would be in the capacity of the buyer whereby to globalise student intake with foreign students from all over the world, and ensure a benchmark is attained ensure students pay for quality and award recognition. Creating a Healthy rivalry where the main source is the numbers and the revolving competition, providing attractive student packages like scholarship and etc. There’s a Risk from substitutes whereby these days students approach education with a consumer frame point of view, ensuring The Education Group has a cutting edge on Industrial Relation 4.0. Lastly, there is a risk of a new entrant whereby Ensuring ‘easy to sell’ credentials are available such as EMBA’s, certificates and many more.

2.0 Proposal of a New Service that The Education Group.

Hereby a proposal to create a new branding and an upgrading in the education platform for The Education Group would be an ideal situation given in the competitive education industry. It can now be upgraded from a college to a University College providing a global platform for local and international students.

The proposed idea would be in the form of a service, which is by definition any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (net academy and zen resources, topic 11 & 12 slide 13). Characteristics of Service can be distinguished as Intangibility, owns nothing physical, Inseparability, provider & service indistinguishable, Variability, inconsistency – no identical delivery and Perishability, consumed immediately, no storage. The service provided by The Education Group in providing an education platform as a university College can be divided into People, Process and Physical Environment. People, The Education Group realizes that in order to offer students the best experience possible, its employees must have inclusiveness, which requires internal marketing. The Education Group should invest additional time and money to ensure that their employees are well-trained and engaged. External marketing involves the interaction between employees and students. Process, would be seen in The Education Group creating a service guideline to not only maintain consistency, but discover potential opportunities to improve processes. A service guideline draws out each step-in processes, including actions that are visible to the students and stakeholders, and ones that happen behind the scenes. Finally, Physical Environment, The Education Group can take advantage of their study space to make the experience more memorable, modern, tempting, exciting or comfortable for students.

The growth of business organization relies on its sound ethical code of conduct set to guide both management and employees in its daily activities (Steve, Steensma, Harrison & Cochran, 2005). The logic supporting ethics as a good practice, is that, ethical contexts will create the proper climate which will aid to drive the development of ethical human resource practices (Buckley et al., 2001). The result is a shared value system that channels, shapes, and directs behaviour at work. The advantages of ethical behaviour in business include the following (Mitchell, 2001). Build student loyalty whereby an alumni is created. Also, a university colleges’ reputation for ethical behaviour can help create a conducive market segmentation that would then operate via word of mouth. An unsatisfied student can quickly disseminate information about their negative experiences with the university. Retain good employees and lecturers whereby talented employees at all levels of an organization want to be compensated fairly for work and dedication. A university college which is fair with employees have a better chance of retaining the most talented employee who also has a responsibility to be ethical. They must be honest about their competences and knowledge. Ethical employees are professed as team players rather than as a person. They progress positively with co-workers. Legal matter could be easily avoided whereby such as not fully complying with environmental regulations or labour laws, ignoring worker safety hazards or not adhering to the guidelines set by the MOHE. The penalties if caught can be severe, including legal fees and fines or sanctions by governmental agencies. The consequential undesirable publicity can cause long-term damage to the University Colleges’ reputation that can even be more pricey than the legal fees or fines.

The Education Group should look beyond their own interests and prioritize those of the societies they are surrounded with. The Education Group host their procedures within society, and in return, society expects The Education Group to show responsibility for aspects of their operations (Bichta, 2003). It is no longer acceptable for a firm or corporation to experience economic prosperity in isolation from the stakeholders within its immediate and as well the wider environment (D’Amato et al., 2009). Accordingly, the quality of relationships that an organization has with its employees and other key stakeholders (e.g., customers, investors, suppliers, public and governmental officials, activists, and communities) is crucial to its success.

3.0 Detailed framework for an Integrated Strategic Marketing Plan to Launch the new service as a University College

Here in the strategic marketing plan would include Situation analysis. This analysis will provide insight into the awareness of the current situation of the education group. This could be easily done with a SWOT analysis using the Strengths, Weaknesses, Opportunities and Threats. It was identified that the a strong leadership, a highly positive completion rate , a proper technology implementation in the system, and excellent relationship between community partners were the strengths The Education Group Possesses. It was also identified that the Weaknesses were, no proper pathway for a homegrown degree programme, high costing programmes, no proper trainings for all employees, and not consistent with the evolvement of the education industry. With these details and objectives are now clear to be set. One of the most popular methods used to perform an environmental scan is the PESTEL analysis. This model is an external factor evaluation matrix that focuses on six spheres of data. Firstly, the political factor which includes government policy, political stability, and trade and tax policy. Secondly, the economic which includes economic growth or decline, and changes in interest and inflation rates. Thirdly, social factors which includes emerging developments and patterns in population analytics, demographics, and customer behaviour might indicate changes in customer needs and wants. Fourthly, technological factors which includes computerization, technology awareness and adoption rates, and new services or products. Fifthly, environmental factors which includes environmental and environmental aspects that affect a company’s operations or consumer demand. This includes access to renewable resources, weather or climate changes, and corporate responsibility initiatives. Lastly, legal factors which includes the current legal allowances or requirements within countries or territories in which an organization operates. This includes health and safety requirements, labour laws, and consumer protection laws.

Marketing objectives

It is the common idea at The Education Group of becoming a centre of excellence for higher education not only in Malaysia but globally. This should be divided into Corporate Marketing Obejctives and Marketing Objectives. The senior management and the marketing department would look into the growth by developing excellent business portfolio and capabilities as a corporate objective and to ensure a higher rate of students enrolling into the homegrown degree programme. Their initiative to provide technological and Industrial Related expertise to set benchmarks in their education quality. Their initiative to create and define their corporate governance by creating accountability.

Target and Target Market

Adding targets against your objectives will ensure you’re creating a measurable and trackable marketing plan. The Education Group, the traditional targets you would put into a marketing plan includes, acquiring the license to operate as a University College within a year, to ensure all guidelines and requirements of the MOHE is adhered, to ensure students are capable of attracting their preferred careers upon completion of studies, to be a centre of excellence in the education industry. Students, parents, and the community would encompass of a certain demographic, geographic and socio-economic information. The Education Group would identify a specific target market in accordance to the current research methodology used. It should be measurable , it isn’t sufficient to just indicate “higher number of students”, it is best to do a study of the students that they have now, future students, as well as the total number of students to be achieved in a stipulated period of time. Attainable, a past analysis of what was done and achieved. This will help to know and understand the jump to take or a step back and analyse what you have lost. Relevant, to describe pertinent and realistic goals, TEG must measure the scope of their potential students and stakeholders. An important aspect of setting up relevant goals is to know if you have the right resources to achieve it. Lastly time bound, Schedule and put a time to the objective. This will help you to know if what you are doing is optimal to reach the goal in time, or maybe it would be better if you give a little more speed.

Marketing positioning

The Education Group would well benefit with the 7 P’s which are the product, price, place, promotion, people, processes, and physical evidence. It was identified that with 7 P’s marketing Mix, market planning is that it helps us do a thorough job. If any one of the 7 Ps is not thoroughly planned for, the project will invariably suffer. Going through them methodically is a great safeguard against strategic missteps.

Marketing communications

The Education Group would be effective because they attract new students and creates balance between keeping existing students (TEG marketing communications-mix). They would be able to use an Integrated Marketing Communication Strategy which would involve advertising, personal selling, direct marketing, sales promotions, public relations, social and media. This could contribute towards a wholesome platform to ensure the University College remains competitive in the education industry.

Packaging and promotions

Packaging services into a bundle is an outstanding way for TEG to increase revenue per sale. Decrease the ability to be associated on price with your competitors. Reflect what other value-added services that could be included when describing the programme packages to make them sound more appealing. Producing consistent students and revenue is frequently a trial for education industry. Incorporate some sale activity into the marketing calendar. Partaking a schedule where TEG offers special promotional packages for a limited time is a great way to increase revenue in periodic or low season.

Budgeting, measuring and tracking

Marketing budget for TEG, a percentage of your overall sales should be considered along with the pace of growth. As a general guide, a marketing budget can be anywhere between 2% – 8% of the sales. Marketing budget for activities and advertising initiatives where target market would be attained. Device a way to track the return on investment and pinch and regulate as needed.

Schedule/Timeline

Your business may be seasonal with a peak season and a low season, or you may have certain periods where your services are in more demand especially when major examinations results are out. It’s important to plan your marketing events out over the year to maximise your advertising initiative.

Implementation of marketing plan

The Education Group can ensure its correct marketing plan through controlling procedures of top management and with proper guidance to all departments of organization. The objectives of The Education Group can be correctively achieved by proper check and balance of company’s market share, profit, sales, budget and continuous analysis of all departments of company so that marketing plan could implemented and could meet with targets. Also, through proper setting of milestones, budget and department selection to work on objectives of marketing communication, channels and research then the marketing plan would be executed in timely basis and with fewer errors.

Conclusion & Recommendations

It is seen from market and company’s analysis that The Education Group has the potential to execute its objectives and can offer a new education service platform and expand globally so by looking at the overall strategies and objectives the following points are recommended:

It should broaden its product range as providing relevant degree programme inline with the current global demand especially during the trying times of the pandemic that recently hit us globally.

It should increase its marketing communication ways by using of social media to boost on the new service provided by TEG
It can have collaboration with Industrial partners for incorporating technology an on set working experience to ensure students who have completed their studies at TEG would be more marketable.
It may have proper management in controlling the employee related issues.
It may include online video lecture sessions for online influencers and as to increase its latest programme awareness to potential students.
TEG could have merger and acquisition with other education institutions to expand its business and to implement its Global growth strategy of 2022 to attain maintainable, long term growth across its global range of business.

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