Deakin University was setup and incorporated in the year 1974. The educational institution has been considered as one of the service provider which established and offered distance learning in the region of Victoria. In total the university has five branches distributed in the regions of Eastern suburbs, Geelong and Warrnambool (Deakin. 2017). The university has also been ranked fifth in cloud education and is also among the fastest developing universities. Deakin University also, has established its international offices in the nation Indonesia, India, and China. The university has four faculties which have been offering a range varied services and courses to its many students of over fifty-three thousand population. From the carried out it has been noticed that 24 % of the population has been learning in the cloud computing system. Also the university is ranked on the eighth position in Australian universities. La Trobe University which has been considered as the biggest rival of the Deakin was set-up in 1967 in Victoria region. This University also has many campuses scattered in various regions of the economy i.e. in Mildura, Shepparton, Sydney, Bendigo, Albury-Wodonga (Crouch & Housden, 2012). The university provides a number of courses and programs but its strength or the best field of arts and humanities. The university has a an approx. strength of thirty-six thousand students and of which seven thousand are international students coming from over one hundred and ten different countries.
Market and segmentation
As the Deakin University has been enjoying the top leading position in the sector it also have the advantage of a larger market share in the region of Victoria (Infoanalytica. 2017)). The university has a large number of international and domestic students which has been enrolling for varied courses and programs. Geelong is one of the region from which the enrollment for the university are high and also there are other regions such as Melbourne’s eastern suburb and many other parts in the Warrnambool regions through which university has been getting a high number of enrollments if the students and service users. These are the are.as which has become the reason behind the success and growth of the university it receives many students coming from these areas to enroll for the various courses in the university (Managementstudyguide. 2017). And as the organizations have also been offering various kinds of online or web-based programs and due to which the university has enabled to develop a big market from all over the world. Online programs have made an increase in the number of enrollments and which has been proven as a plus point for the corporation (Hanlon. 2017). The university has been showing a consistent growth in the last few years and due to which it has been concluded that the demand for the courses and the various services has increased because the enrollments are coming from over 110 countries over the globe.
Marketing mix analysis
Marketing mix has been considered as the concept of utilization of the various factors for making the promotion of the products and services of a business organization. And hence Deakin University has also employed various marketing mix in its operational activities so as to promote the brand name and also the offerings of the institution (Armstrong et al, 2014). The below mentioned are the four main components of marketing mixes which has been adapted by the university:
The products or the service are the courses and the programs offered in the campus and also through online channels, such as the university has currently started enrollment for the distance learning to students globally. Moreover the university also offers a wide and diverse range of full-time programs and school-based programs. All these courses has made an increase in the number of enrollment of the students whether they are international or domestic and this has been proven beneficial for the organization.
Price is one of the most significant factor in the concept of marketing mix and the determination of the price of a service can be done by considering various elements such as rivalry, quality of service, course enrolled and the channel of learning etc. A detailed analysis has been executed over these components and which has helped the university in the development of a fair price scheme for the diverse range of courses and programs offered to the students (Babin & Zikmund, 2015). The prices are so reasonable that neither the student will be feeling exploited nor the university will suffer a loss. A reasonable cost in the marketing mix has played a significant role in improving the enrollments to the University.
Distribution is the element which also plays a crucial role in the concept of marketing mix as availability of the goods and the services is also of an essential task. The university makes use of number of distribution channels for providing the services to the student’s i.e. are their service users. And by making use of this mix the university entails that its services or courses reach the potential clients as and when required by them. The branches of the university in the region of Geelong, Eastern suburb region and the Warrnambool area alongside its international offices have helped to reach many potential students and thus enhancing growth and success.
The University website, the online portal are some of the components of the promotional mix of the university. Along with these, social media is the platform has also played a critical role in the promotional activities, as social media is the biggest and highest channel. Also the university executes many promotional events and programs for the promotion of its programs and courses, by making use of the various mediums such as advertisement on TV and Radio, mail marketing and newspapers among others.
The university has a panel of professional lecturers with set of good qualifications, experience has helped in building the confidence in the market and which has brought an increase in the market share of the organization. By making technological integration and adaption of the modern means in the operational activities and its processes the university has smoothened its functionalities. This also has significantly contributed to the university's market share increase.
The concept comprises of the various fexternal factors which are liable influencing the business environment of the organization. The term PEST stands for Political, Economical, Social and technical factors (Koumparoulis. 2013). The below mentioned is the external analysis which has been executed on Deakin University:
Political is the first component which influences the business environment of Deakin University. There are number of issues which can come-up because of the changes made in the policies, changes such as changes to public funding etc. (Mindtools. 2017). There are number of operations which can be executed by the governing bodies and which can have a negative or positive impact on the business organizations. For instance the governing bodies can decide of offering more incentives to the institution or even decide to withdraw the same offer. Any change brought in the tax rate will also be affecting the working of the university because the changes brought or the increase or reduction in the tax levied is based on various aspects of the institution.
The economic factors are also considered very much significant in influencing or dominating the working or the operational activities of the business organization. The economic factors comprises of the economic conditions of the economy or the region, This can also include the changes in the economic climate which affect the sustainable investments of the University, legislation changes, availability of funding and the energy cost changes.
Social factors are considered as the most effecting factor as they comprises of the society or the environment in which we live in (Marketingteacher. 2017). This factor imposes number of impacts on the Deakin University in many ways and this can include cultural trends, the social beliefs of the society and the service users, stakeholder's expectations and fulfillment of the corporate social responsibilities.
The last factor is the technological elements which are also very much liable in influencing the operational activities and functionalities as technology has become a very significant concept die to globalization and modernization (Altbach & Salmi, 2011). The university is required to be upgraded in the sense of the technologies as the university offers a varied range of courses and programs which are connected with the technology and use of the same.
Competitors are the most vital concept for any of the business organization as they are capable and liable in influencing the price and demand of the product. La Trobe University is one of the biggest rival of Deakin’s University. The university has number of branches in Australia, but Melbourne branch being its flagship campus. There is a high number of enrollment from the region of La Trobe University and also from the regions or the regional cities like Bendigo to the twin border city of Albury-Wodonga (Latrobe. 2017). An approx. estimate has been concluded that about 45900 students are studying in Deakin University whereas in case of La Trobe University the number of students is 36746 whereas the overseas students constitute 22.5% of La Trobe’s population which is 6.2% more in comparison to the international students that Deakin University has. As compared to the Deakin University (Sallis, 2014), La Trobe University has been also offering various types of online courses. But a decline has been observed in the number of the online students of La Trobe’s .i.e. 4.3% as compared to that of the Deakin University’s .i.e. 26.3%. La Trobe University has been placed on the third rank in Victoria region and twelfth in the economy of Australia. Deakin University has been ranked on the position of 251-300 Times higher education category whereas La Trobe University is in the position between 351-400, also rankings has been given by QS world university for both the universities. 355th and 386th are the ranks which have been given to Deakin University and La Trobe University respectively. Excellence in Research for Australian report has given Deakin University and La Trobe University at 18.95% and 15.56% placing them at 17th and 20th rank, respectively
The concept is concerned with the assessment of the Strengths, Weaknesses, Opportunities and Threats of a business corporation. This analysis will help the company in the development of the plans and the strategies and also upcoming threats and opportunities will be recognized which will aid the company in various aspects. The below presented is the SWOT analysis which has been executed for Deakin University.
Strengths: First of all the strengths of the university, this term comprises of the positive reputation of the university among the society and between the service users. Moreover the physical assets such as the main branch and other campuses location are some of the strengths of the organization and the successful partnership and strong bonds with the other universities, good records in the past performance (Morrison. 2010). Further the university has also managed for the accreditation of the programs and courses offered and which has proven as strength for the organization. And due to which the university has also been getting a good support from the service users and the students which can also be considered as the strength of the organization.
Weakness: The university also has some weaknesses which comprises of the shortcomings and further it also include its operational structure is bureaucratic by nature, the university also have limited resources for some of the facilities, fiscal uncertainty are some of the weakness which are being faced by the organizations and can come up as the weaknesses.
Opportunities: As the organization has a good reputation in the service users and also enjoys a high level of goodwill the university has opportunities of more and stronger partnerships with external communities and also with other universities (uis.edu. 2017). The university should also start establishment of the campuses in the new regions so as to extend the student diversity. Moreover the organization also has the potential for growth and development of new construction and premises.
Threats: Being a top and leading brand the university has been experiencing an intense competition by La Trobe University and this has become one of the biggest threat for the university.
Value and brand positioning analysis
The term Brand Positioning has been considered as the concept or an activity of developing a brand offer in a manner that it aids the business organization in the attainment of the distinctive place and value in the targeted customer’s mind. In this case both of the universities have been trying to reflect their values to be righteous and in a focused manner regarding the students’ future and also for the welfare of the society (Porter, 2011). There are number of aspects which are being followed by both the universities such as they both believe in following excellence, adaptation of better and improved mechanisms so as to develop the process and procedures, providing and practising academic freedom and also encouraging ethical behavior so as to make the students comfortable. The universities are also being making use of the approaches such as equality and diversity of genders and cultures so as to develop a friendly working environment (Keller, Parameswaran & Jacob, 2011). Also the Deakin University has been supporting the disabled in every possible and is has also been planning for the establishment of the international offices in other regions. Whereas La Trobe University will be involving more into serving the regional areas so as to make development of the mentioned regions. Moreover the university also trying to develop the recognition for the employability of the students, and their experience in the university, providing a sense of excellence of research and 'brilliant basics' and these are consiedered as the four basic pillars for the development of the strategies.
The position within its industry or sector can be determined by the firm’s low or high profitability. The above average profitability can be used as the fundamentals the concept of competitive advantage (Kapferer, 2012). Mainly there are two basic types of competitive advantage and which are connected or linked with the scope of operations of the business organization and the below mentioned is the explanation of the same:
Cost leadership is the concept which is associated in developing an entity as a low cost producer. Number of sources is available of cost advantage within the organizational structure within an industry and they are also dependent on the same (ifm. 2016). And these available sources with the entity can include pursuit of economies of scale, preferential access to raw materials, proprietary technology. If the business firm will be able to attain the cost leadership and after this the corporation is required to exploit all the sources of cost advantage and this will make them in an above average performer in its sector. Moreover the corporation can also have a command over the prices at or near the industry average.
Development of a distinct image in the concerned sector along with some of the dimensions is the basic motive of this concept or approach and this concept is very much significant for the consumers or the service users (Aaker & Joachimsthaler, 2012). There are number of variables which are considered as significant in this strategy by the consumers and which are selected by the business corporation.
Low cost focus
The concept is similar to that of the cost leadership strategy but the only difference in the concept of low cost leadership is that it has made focus on a niche market. So according to this marketing is done after considering a particular segment of consumers and promotions are also done for the same. And the prime aim of this strategy is to become the cheapest provider in the specific segment.
Media and budget allocation for 2018
Advertising and promotions is the most significant concept for the growth and success of the business corporation’s and hence developing the same is very much essential. And for doing that the company is required to planning and set a budget (Kelley, Sheehan & Jugenheimer, 2015). A team of media planners is created for the development of a media mix and this is done by considering a budget-conscious program. A budget-conscious program is required to be developed by making selection between the objectives of the campaign and the properties of the media which are required to be utilized. This will aid in the development of an understanding each and every component which provides a cost-effective contribution in the attainment of the objectives.
From the above carried out analysis it has been concluded that Deakin University is an educational institution which has excelled in providing the best quality of educational services and programs through online and offline mode to the students. The above presented report has been made focus on the marketing plan of the firm. The marketing plan has been developed by considering the various concepts which are as whole known as the marketing analysis.
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