Thursday, October 24, 2019
Marketing Plan with SWOT Analysis
nowledge is the most significant economic and social force of the 21st century, and higher education will see its importance and influence to grow in the coming decades. At the same time, as in other industries and sectors, extraordinary, rapid change has become a constant for institutions of higher education. This dynamic environment provides challenges and opportunities as well, which Is why Trine university Marketing 303 class has spent the last eight weeks putting together a comprehensive marketing plan process to examine a variety of marketing and enrollment issues facing Trine university outreach campuses.Since its beginning in 1884 in Angola, Indiana, Trine University has experienced significant periods of growth and change while preparing students for career success. While this growth and change mainly took place at the University's mall campus, It Is now entering a new phase of growth and change. This growth and change is happening with Trine university outreach campuses. Tr ine University's mission for the outreach campuses is Ã¢â¬Å"to provide accessible educational opportunities that are responsive to the needs of today's diverse population and lead to meaningful careers and lifelong learning.To accomplish our session, we have set forth the following goals: Acquire our own learning facility Higher enrollment rate Promote associates, bachelors, and master degrees to spark more interest in attending the campus Add new degrees to current programs Offer tuition discounts and incentives Make scheduling classes easier and more available Reach out to Individuals and employers In the community wishing to better their education Achieve top school ranking in community To guide and later help assess the marketing plan and its effectiveness, the Marketing 303 class produced a SOOT analysis to help provide direction and serve as basis for the development of a marketing plan which promotes Trine university's outreach campuses. We hope to accomplish this by assessi ng what we perceive to be the university's strengths, weaknesses, opportunities, and threats related to achieving these strategies.A section with these results is presented later in the marketing plan in its entirety, but a few comments are listed below. Trine University views undergraduate education as central to its mission and will students to be productive, contributing members of society. To sustain Trine University reputation of overall excellence in selected areas of graduate and repressions education, resources will be focused on creating and strengthening areas of graduate study in a manner that is responsive to regional needs. To promote the recruitment, retention, and success of its students, Trine University will provide an environment rich in human diversity, with dedicated support services, in an outstanding instructional facilities.Trine University will create an empowered group of diverse, unified, committed and motivated employees who will focus their collective ski lls, talents, and knowledge toward realization of the university mission and vision. Trine University believes that continuous planning and evaluation are needed to effectively chart the future of the university outreach campuses, and therefore will increase its self-assessment. Trine University will secure, allocate or redirect human, physical and financial resources in a manner that enhances the university mission and vision. The two initial targets for Trine University will be high school students and students looking to pursue their bachelor degree that already has associates.Priority, however, will be given to high school students because we will be able to reach out to them nice they will be starting their degree from fresh. Gone are the days when marketing and communication offices can control the content produced about universities. The internet has emerged as a place where users are active, co-creators of content and social networking in mainstream. Social media has surpass ed e-mail as an online activity. More than ever, relevant, timely and engaging content is key in any marketing campaign. In the past year, Trine University Backbone, Twitter and Youth presence are on the rise and changing the way the students and the university are communicating.To effectively communicate and market to existing and prospective student, Trine University must use a variety of strategies, based on the target audience communication style, and constantly re-evaluate its marketing methods and messages to meet our diverse student population. Trine currently has a student enrollment of 1,791 students per year. They are projected to grow at approximately 8. 1% per year making their enrollment 1,935 in 2013 and 2,091 in 2014. They currently have a tuition cost of $25,400. 00 per year and $1 ,600. 00 in other expenses (such as books, lab fees & other miscellaneous costs). Trine has 52. 5 million per year in annual sales and 1. 53 million in net income.Trine's tuition is higher than Harrison College and II-JPL'S but less than Indiana Wesleyan. The organizational structure of Trine University outreach campuses will appear in its entirety in a later section; however, the following few comments will briefly summarize Marketing 303 class' ideas on a working organizational structure. We and students to feel there is a local individual they can physically call or go see in an office setting. This individual will act as a liaison between the Student Support Specialist and Trine University's main campus. This will help promote the feeling that Trine University is committed to the growth of its outreach campuses.A successful marketing plan depends upon how well a company can blend its people and get the job done. If everyone is on the same page and know what it is they are striving to accomplish, the possibilities of success, are endless. Performance of this plan must be measured, and this means standards must be developed against which performance can be evaluate d. The importance of proper and timely evaluation cannot be overlooked. Communication between the business and the customer is essential for success. Customers will often try a new product Ã¢â¬Å"one timeÃ¢â¬ . If they are not pleased with the product they will look elsewhere. UNIVERSITY DESCRIPTION There's a time and place for thinking and doing.We make both happen at Trine University. Founded in 1884, we're known for our rigorous academic programs, exceptional faculty, and hands-on experiences that lead to real-world, skill-based knowledge. The results are phenomenal. The rate at which Trine students find work related to their majors within six months of graduation-?at 92 percent-?is among the highest in the country. Our graduates' starting salaries exceed the national average in every category. Explore Ã¢â¬â Experience Ã¢â¬â Excel We're a private, non-denominational institution that grants associates, bachelors, and master's degrees in more than 30 programs on campus, onl ine, and at four regional education centers.With only 1 ,450 students, our small class sizes ensure one-on-one attention with faculty who bring their own workplace experience into the classroom. We focus on active participation through more than 60 student organizations, competitive intercollegiate athletics, and extensive co-pop and internship opportunities. You will also find our nationally recognized education affordable. We award more than $10 million in grants and scholarships annually; more than 90 percent of our students receive some form of financial aid. STRATEGIC FOCUS AND PLAN Mission Trine University mission for the outreach campuses is Ã¢â¬Å"to provide accessible educational opportunities that are responsive to the needs of today's diverse population and lead to meaningful careers and lifelong learning.Goals For future years, Trine University-Columbus seeks to achieve the following goals: Reach out to individuals and employers in the community wishing to better their C ore Competency and Sustainable Competitive Advantage In terms of core competency, Trine University outreach campuses seek to achieve ability by 1) providing high-quality learning experiences not only in learning but also in hands on projects and by 2) providing outstanding graduates to be successful. To translate these core competencies into a sustainable competitive advantage, Trine University outreach campuses will work closely with their students to achieve the best satisfactory education possible.SITUATION ANALYSIS The ultimate goal of Marketing 303 class is to produce a SOOT analysis which will elf provide direction and serve as a basis for the development of a marketing plan to promote Trine University's outreach campuses. We hope to accomplish this by assessing what we perceive to be Trine University strengths, weaknesses, opportunities, and threats. SOOT Analysts Marketing 303 class produced a SOOT analysis. Strengths: Responsiveness to students and education needs Academica lly able students Effective teaching Supportive environment for teaching and learning Demonstrable results Substantial scholarship / financial aid resources and support Weaknesses: Distinguishing qualities and identity not well knownLack of strong, pervasive presence in the external community Operational structure of regional outreach campuses Too large a percentage of classes taught by part-timers Limited resources for faculty, staff, and students of regional outreach campuses Adjustment to pressures of growth Make presence known Expand recruitment starting at the high school level More conversations and partnerships with local employers Developing and even better niche within the rapidly developing market for on- demand education Expand possible technological competitive advantage Ã¢â¬â technology has made programs from around the state, nation and world accessible to anyone with an internet connection so a student can still feel like they are getting a true classroom environme nt Responsiveness to students Ã¢â¬â although responsiveness to students is a strength of Trine University, it also offers the opportunity for more rewarding efforts.Students are more than customers; they are participants in, contributors to, and products of a highly structured learning environment and developmental process Threats: Pressure to grow at expense of quality Growing competition from nearby universities Ã¢â¬â physically and virtually Recruiting and retain high quality faculty and staff given increasing competition Rapidly advancing technology poses the most far-reaching, unavoidable, and unpredictable threat to institutional stability and competitiveness Enhancing and maintaining access to the University for minority, low income, and first-generation students Possible uncertainty of off-campus operations Competitors Indiana Wesleyan University Phoenix University Harrison College PICKUP Ivy Tech Target Audience High School Students College Students Ethnic Community C ommunity Members Customer Profile Profiles help us to gain a deeper understanding of the audiences we are trying to reach by providing details into demographics, technocracies, chirography's and alee and lifestyles (VAL'S). High School Student Profile Demographics 16-18 years old County Resident Limited income Live with parents Technocracies Immersed in technology Active in social networks Ã¢â¬â text and chat are primary Chirography's Generation Me Ã¢â¬â seeks attention, feedback, lofty beliefs Value and Lifestyles (VAL'S)- Experiences High resource group motivated by self-expression Energetic, active and social College Student Profile 18-25 years old Work part-time May have children Living on their own for the first time Receive financial aid Ethnic Community Member Profile Spanish speakingBicameral Limited understanding of higher education environment Prefer traditional media Those who favor speaking English to speaking Spanish, use more technology Strong family values Chall enged by family barriers to education Impressionable and likely to emulate people they admire Motivated by achievement Community Member Profile Age 26 + County business leader Ã¢â¬â owners and managers Financially stable with expendable income Parents of high school age children Have access to technology, but not avid users Use internet to research products / services Predominantly e-mail users Use some social networks Values reputation and success Values education as a way to accomplish goals Successful people who get satisfaction from their career and family MARKETING PRODUCT FOCUS This section describes the 1 year marketing and product objectives for Trine University-outreach campus and the target markets, points of difference, and positioning.Marketing and Product Objectives Current markets. Current markets will be grown by expanding student awareness of the Columbus campus. New markets. By the end of the first year, we hope to have new students and a huge population growth t o our campus. New products. By adding associates degrees, we see more expansion of students. Target Markets Two initial targets for Trine University outreach campus will be high school students and students looking to pursue their bachelor degree that already has their associates. Priority, however will be given to high school students because will be able to reach out to them since they will be starting their degree from fresh.Points of Difference Continuous improvements in education Qualified personnel Uniqueness of its professional service More diversity in student body Positioning students or hard to identify. We are hoping to position it easier on students to identify who we are, what we stand for and why they should attend our campus. Marketing Program The four marketing mix elements of the Trine University Marketing Plan are detailed below with the purpose of increasing the overall visibility of Trine University outreach campuses. Product Strategy Product line Trine Universit y grants associate, baccalaureate, and master's degrees through exceptional programs offering career-oriented, hands-on learning and student- focused teaching via Trine's 450-acre main residential campus in Angola, but also at he eight outreach campuses listed below.Avon Columbus Fort Wayne Howe Indianapolis Alligators Chervil's South Bend Warsaw Unique Product Quality Trine University understands and appreciates that the students have many choices in achieving their educational goals. Trine is committed to providing students with an innovative learning experience that many other institutions do not offer. Trine students should expect, Quality Trine continuously evaluates and assesses each degree program, student experiences, and student employment success Nationally recognized examinations ND certifications ensure Trine students have the edge to secure employment at a rate of nearly 92 percent Affordability Various Scholarships and Financial Aid Programs are available to students w ho qualify U. S.News & World Report ranks Trine as one of the top colleges and universities whose graduates carry the least amount of debt Ninety-eight percent of No expiration date on transfer credits from any accredited College or University Convenience and Flexibility Eight week accelerated courses Face-to-Face classes at outreach campuses or online courses available anytime, anyplace, anywhere Attention Trine brings workplace and educational experience into the classroom via well respected faculty to combine theory with hands-on learning They challenge you with rigorous academics but offer support and personal attention Technologically Advanced The laptop program ensures all students have the same technology and advantages inside and outside the classroom textbooks reduce the cost of textbooks by nearly 50 percent while also providing new tools such as the electronic highlighter, electronic note taking, note sharing, and the ability to collaborate with other students Packaging P ersonal attention is Trine's hallmark. It is the packaging that makes them standout among other universities and colleges. Students are not Just a number but the future. Trine University takes this seriously and assists the students in their endeavors to Explore Ã¢â¬â Experience Ã¢â¬â Excel in all they do not Just while a Trine University student, but when they move into their chosen career. Price Strategy Students want the best value, high-quality education at a price they can afford. Trine University works hard to excel at both.Our hands-on learning and personal attention room dedicated professors provide the edge you, the student, need to launch a successful career or move up in your current organization. Trine University is an affordable private university with costs in the mid-range for private colleges in Indiana. Our graduates enter the workforce carrying the least amount of debt among graduates nationwide, according to U. S. News and World Report. Promotion Strategy Ke y promotion marketing strategies will be a combination of the following marketing channels in an effort to reach potential students. Mass marketing combined with targeted campaigns are designed to maximize communication.Traditional Media Develop new print and presentation materials to connect with potential students Use past students success stories to help motivate current and potential students TV/ Radio Print Outdoor Traditional Media Add video Develop text message options for accessing information about Trine Web advertising E-mail marketing Mobile-to-mobile Social Media Start or continue to build a Backbone community Connect with the business community via social networking Backbone Blobs and micro blobs You Tube Earned Media Create a public relations campaign to get Trine University key messages in the news Use the media to further position Trine University as the premier provider of tomorrow's workforce Print editorial coverage TV/Radio broadcast coverage Web coverage through blobs Promotions Place (Distribution) Strategy Trine University will attract other students by using a mixture of traditional and online advertising strategies listed above to create a grassroots marketing campaign. Trine will recruit current students to fill these outreach campuses marketing positions. It will further demonstrate that personal touch that Trine University is so noted for.