Marketing and Competitive Society Analysis

Question: Discuss about the Marketing and Competitive Society Analysis. Answer: Introduction This report is presented to analyse the marketing and competitive environment of Australia in concern to the educational system. It also includes the market evaluation which includes the segmentation, target market, marketing mix to ensure the market strength. Along with this, PEST SWOT and brand positioning is also discussed to assess the brand value of University in Sydney market. University of Sydney is one of the oldest University in Australia which is providing various graduate and undergraduate courses. It was established in year 1850. It is the leading university which has sixteen faculties and business school at all over the Australia (4icu, 2017). Further, it is offering world class education to the domestic and overseas students. Along with this, it is ranked as 45th university and it is also included in topmost three universities in Australia. University of Sydney has more than 50,000 students across the globe involving the alumni which are top business in the world (TopUniversities, 2017). Further, the education facility of university is very high quality to build the business leaders. Along with this, the campus facility is too high tech and which benefiting the students. Along with this, it also provides the non- academic amenities to the students such as sports, scholarship and distance education facility. Market summary and demand assessment The education dilemma has changed and Australian market is also facing the fierce competition by public and private universities (Peters, et. al, 2017). Along with this, the Australias education is largest service export to the students. Further, the local Australian universities are enabling the people to get the opportunities for a good job in market which is significant for the local community development. Australia has the highest share foreign students with 43 percent as compared to the other countries (ABC, 2017). Moreover, the fee structure is very costly for study in Australia, one students need to pay AUD10000 and AUD20000 minimum for undergraduate and postgraduate respectively (Norton and Cherastidtham, 2015). At the same time, more than 200 countries students are studying in Australia and most of them are from India and China. With this, the Australian government is also conferring the scholarships and grants facilities to the abroad students. Australian education system is adopting the crucial transformation in institution rapidly (Jll, 2015). Moreover, the demand driven system in Australian market is very fluctuating and a student can change the University for any Course at a time. Along with this, research based education demand has increased in Australian. Students are keen to get the high tech facility with non academic course. Australian university market has become too competitive and demand driven for quality education. In concern to this Australian government has implemented a demand driven strategy to increase the enrolment of local students for universities in year 2012. Australia has ranked 5th country in the world for the study purpose so the demand for market may be increased. Segmentation and target market Segmentation and target market has become crucial from the marketing environmental aspect. Sydney market is segmented on the basis of various forms, as demographic segmentation includes the market in which include the relevance to the age. With this, the Australian marketing is facing the decline lack of mature students, who are the target of institutions. Further, the effective segmentation leads to the strategies to lure the students. Universities are also implementing the market segmentation to meet the expectations of target market audience (LLC, 2017). University of Sydney is also offering the various courses to graduates and undergraduates. Along with this, the higher education for five and six years courses students is declining. On the other hand, University of Sydney is targeting the young age people who have passed the schooling education and attempting to get admission in higher institutes (Lynn, 2011). It targets students between the age of 18 to 25 years and offers the professional courses to make them able. There are many factors can impact the target market such as industry development, strategic decision of competitors and wide range of sources for education. Current marketing mix analyses Universities are tempting to market through various lucrative strategies that influence the students group. It also provides the valuable service to the students for strategic excellence. Product, price, place and promotion are collectively known as marketing mix which supports the organization to create marketing strategy. In concern to the University of Sydney, it is also focusing on the development of marketing strategy to attract more and more students for education programme. Universities are offering various institutional products as course like bachelor degree, undergraduates programme, master degree, post graduate courses, vocational courses and research programmes to its students (Ibisworld, 2017). Further, price is another element of marketing mix which includes the price for institutional products. University of Sydney is charging the tuition fees as AUD19000 to AUD35000 which vary as per the different course. Place is an important thing that an institution should carefully select. University of Sydney is located in the left side of Sydney city which is a competitive advantage for institute to address the attention of students. It is located at Camperdown NSW 2006, Australia which is known as hub of institutions. Along with this, university of Sydney is also influencing the customers through promotional strategies in current market. The business environment is changing rapidly. Sydney marketing society is the official marketing group which tends to focus on the awareness about the university programmes (Sydney, 2017). It also promotes the university through career fairs, workshops and social events. PEST analyses PEST stands for political, economical, social and technological factors that can impact the business process. Where, political environment is too supportive which provides the grant and other financial support to the students through its cost effective education. Further, the political environment is stable and the government is facilitating the supportive action to improve the standard of education. Along with this, economical environment of Australia is developing rapidly which strengthen the market growth. Income of the peoples is also increasing so it is good for local universities. Funding decision of the government can also impact the environment of university but the Moreover, the social factor can also influence the decision of universities. Australian demography is changing towards English language. Further, culture norms can also affect the decisions of institutes. Technology is very important to implement in current era of business development (Doherty et. al, 2012). There are many technology are emerging which have significant impact on the dilution of education industry. Organization should introduce the innovated technology to get the competitive advantages over the competitors. Competitor analyses Australian universities are facing high competition in the market because of emerging private and public universities (Maslen, 2012). At the same time universities are adopting new marketing strategies to attract and retain the professional courses students and expanding the target market. University of Sydney is facing competition from the western Sydney University which is also located at the Sydney region. Further, it is also proving the undergraduate and posy graduate courses to the domestic and overseas students. It is ranked among top 400 in the world and 19th in Australia (Topuniversities, 2017. It can affect the institute enrolment of university of Sydney because of its effective marketing strategies to gain the number of students. It is also having high tech campus and providing all the amenities to the students. Moreover, it is teaching the 35,000 regional and 5,000 international students. It also possesses the good reputation and research excellence so it can influence the target market of Sydney University (Parmenter, 2013). SWOT analyses of University of Sydney STRENGTH - One of the Top University - High Tech Campus facilities - Strong students enrolment base - Experienced faculty - Qualitative education WEAKNESS - Lacking in career development programme - Lack of cultural activities - More focused in international students - Heavy fee structure OPPORTUNITIES - Potential market - Online opportunities for worldwide - Integration education system - Partnership potential with local institutes THREATS - High competitive market - Effective marketing tactics of rivalries - Risk of losing experienced faculty Value and brand positioning analyses Positioning and value of an institute is considered as the strength in the market. An organization can get the outstanding benefit of an affluent brand name in perspective market. At the same time, the University of Sydney is a successful brand name in Australian market. It possesses strong position in the market which is suitable in target market and segmentation. University has deliberate positioning strategy to attract the potential students and satisfy the needs and wants of each and every student (Sydney, 2017). Further, it also has strategic promotional strategies to affect the competitors market. Along with the, leadership is the core value of University of Sydney. It tends to focuses on the satisfaction of students and society and it is adopting strategic way to develop the brand value in the market. In addition to this, University emphasises on the effective and successful advertising and activities to get attention of Sydney people. Conclusion On the basis of above analysis of marketing and competitive environment of University of Sydney it can be concluded that this University is ranked in top three Universities of Australia. It can also be concluded that Australian institutes are targeting the overseas students for professional courses. It is reviewed that market position of university is strong. Further, University is facing fierce competition in the market. On the bass of above analysis it can be suggested that University should focus on quality education to gain the more number of students. References 4icu, (2017) The University of Sydney. Retrieved from: https://www.4icu.org/reviews/130.htm ABC, (2017) International students studying in Australia reach record number, Education Department figures show. Retrieved from: https://www.abc.net.au/news/2017-02-22/record-number-of-international-students-in-australia-in-2016/8291284 Doherty, I., Steel, C. And Parrish, D. (2012). The challenges and opportunities for professional societies in higher education in Australasia: A PEST analysis. Australasian Journal of Educational Technology. 28(1), 105-121. Ibisworld, (2017) University and Other Higher Education in Australia. Retrieved from: https://www.ibisworld.com.au/industry-trends/market-research-reports/education-training/university-other-higher-education.html Jll, (2015). 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