The paper "Marketing Plan for University of Wales Trinity Saint David’ s E-learning Product" is a good example of a marketing case study. This report is a marketing plan developed to the senior management of University of Wales Trinity Saint David. Besides, the paper presents some of the possible challenges or barriers to market entry that are best explained using Porter’ s model of five forces. On the other hand, it also explains to the senior management of the institution how it can create value to the product by first taking into account the importance of value chain analysis.
The barriers to market entry can be best addressed by doing proper relationship marketing and identification of marketing mix using the 4Ps model. Nonetheless, the report has also mentioned the need to carry out proper market segmentation, targeting and positioning so as to successfully introduce the product into the existing education market. Finally, a growth strategy of the product is vital and the report concludes with some recommendations to the senior management. Introduction With the increased competition in tertiary education, many institutions have diverted their education strategies towards digital learning.
The advancement in information technology has created an online learning environment that is generally referred to as e-learning (New Zealand Ministry of Education 2014). E-learning is basically an electronic learning system where learners use their electronic gadgets that are connected to the internet to carry out their learning activities (New Zealand Ministry of Education 2014). The main focus of this piece of work is on University of Wales Trinity Saint David that recently introduced e-learning to complement its existing traditional model of education since Bologna Press has recommended changes to education standards (Reuters 2014).
Certain marketing mix factors influence the introduction of new products into the market (Alan & Fiona 2013, p. 208). Therefore, this paper utilises different elements of marketing to develop a marketing plan for e-learning product that the University of Wales Trinity Saint David is availing to the education sector. The marketing plan process The marketing planning process is important since it involves such activities like doing proper marketing mix, value creation, relationship marketing and other marketing concepts like segmentation, targeting and position. Furthermore, the process identifies the need for corporate social responsibility in the modern business environment and it is also important to the organisation by identifying barriers to market entry.
Most importantly, the process provides the growth strategies that are suitable for the chosen product. Marketing mix using the 4Ps model A new entry of a product into an existing market requires a clear understanding of the marketing mix concept which acts as the feasibility test of a project. Firstly, the most important thing is to do a proper market positioning of the product. A model that best defines a marketing mix is the model 4ps that states that entail the product, place, price and promotion (Mahadevan 2000, p. 58).
The same tool is used to coin a basic phrase that states that marketers must choose the right product, introduce it at the right place under appropriate price by using the right strategies of promotion. The marketing mix is rather the different choices that an organisation has to make when availing products or services into the market. EJ McCarthy introduced the 4Ps model to define the marketing mix (Alan T & Fiona 2013, p. 207).
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