MKG502.docx - MARKETING MIX ANALYSIS AND REPORT OF WENTWORTH METRO COLLEGE EXECUTIVE SUMMARY This report aims to analyse and evaluate existing marketing

MKG502.docx - MARKETING MIX ANALYSIS AND REPORT OF...

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MARKETING MIX ANALYSIS AND REPORT OF WENTWORTH METRO COLLEGE EXECUTIVE SUMMARY This report aims to analyse and evaluate existing marketing mix of Wentworth Metro College in order to identify if the college needs to introduce new marketing offer to attract potential customers, enhance brand awareness and increase market share. After evaluating existing marketing mix, the paper identified that Wentworth Metro College needs to offer new marketing mix component and which is 15% discount on the student's family member who wants to study in Wentworth Metro College. It is because new offer proved that it has a potential to encourage organizational strategic plan and marketing objectives.
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TABLE OF CONTENT 1. INTRODUCTION ....................................................................................................... 8 2. ANALYSIS ON EXISTING MARKETING MIX ....................................................... 9 2.1 Background to the company ................................................................................. 9 2.2 Marketing of Wentworth Metro College’s products and services ........................................ 9 2.3 Course Characteristics ..................................................................................... 10 2.4 Pricing Policy .................................................................................................. 12 2.5 Student fee policy ................................................................................................ 14 2.6 The significance to market outcomes .................................................................................. 20 3. ANALYSIS ON NEW MARKETING OFFER ........................................................... 23 3.1 Environmental factor's impact on the marketing mix ........................................................... 23 3.2 Customer needs and preferences impact on the marketing mix ........................................... 24 3.3 New offerings of Wentworth Metro College ....................................................... 25 3.4 T he marketing mix analysis ................................................................................................... 25 4. EVALUATION OF NEW MARKETING OFFER ......................................................... 26 4.1 The component to be tested ........................................................................................................ 26 4.2 The implications of altering component of the marketing mix ........................................................ 26 4.3 Components of the marketing mix in response to: ....................................................................... 27 Test results and evaluation of market response .......................................................... 27 Budget requirements ................................................................................................... 27 Continuously meet organisational strategic objectives ................................................ 27 Maintaining operational marketing objectives and desired market positioning .......... 27 5. CONCLUSION .................................................................................................................... 28
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1. INTRODUCTION Wentworth Metro College is a dynamic Australian Higher Education Institute offering undergraduate and postgraduate degree courses in two major cities, Sydney and Melbourne. Our campuses are conveniently located in the heart of the Sydney and Melbourne CBDs which is very close to public transport hubs. The college cater to the needs of over a thousand students every study period, helping them transition from study to employment while offering them courses in Business, Project Management and Information Systems. This report aims to analyse and evaluate existing marketing mix of Wentworth Metro College in order to identify if the college needs to introduce new marketing offer to attract potential customers, enhance brand awareness and increase market share. After evaluating existing marketing mix, the paper illustrates that Wentworth Metro College needs to offer new marketing mix component. 2. ANALYSIS ON EXISTING MARKETING MIX 2.1 Background to the company Choosing to study at Wentworth Metro College will allows students to explore a range of study options and make the right choice for chosen career. The college's primary objective is to provide, foster, and promote academic and professional capital in each individual student. The college wants its students to develop the capabilities and skills to assume positions of responsibilities in both business and society. The college's alumni work all through Australia, South East Asia and the Americas. The
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