Professional Documents
Culture Documents
Contents
INTRODUCTION ............................................................................................................. 2
Marketing mix............................................................................................................... 4
Definition ................................................................................................................... 4
Marketing Budget.................................................................................................... 23
CONCLUSION .............................................................................................................. 24
REFERENCES .............................................................................................................. 25
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INTRODUCTION
Todays, economic integration, investment environment and production increasingly fierce
competition. Every company and organization needs to have a position in the market
(Saga, 2016). Therefore, it is indispensable for the marketing department who are
capable of making an anonymous product that is remembered and trusted by customers.
Each aspect of business builds upon marketing. Marketing is a significant role player in
the performance of business. It is the entire activity of businesses that identifies the
dissatisfied needs of consumers, finding products and services that businesses can
produce, finding ways to distribute them to convenient locations with the most appropriate
price and time for consumers. (Hoatt, 2018)
The goal of this report is researching the competition and producing a marketing plan
based on the findings. This assignment has two parts:
Part A: Comparing how Center for International Education and other chosen organization
use the different elements of the 7Ps marketing mix. This will be submitted as a summary
document for the marketing team.
Part B: Producing a marketing plan to meet marketing goals and objectives. The
marketing plan should include all elements of the 7Ps marketing mix, with an action plan
and measures for monitoring and evaluating progress and meeting of goals and
objectives.
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THE REPORT
Marketing mix
Definition
Marketing mix is a part of a marketing plan. It is a strategy which a company uses to
promote its brand or product in the market. It mixes 7 different elements to give a suitable
offer for customers with the main objective is making the right product at correct price at
the right place with right promotion (Kenton, 2018). Marketing mix is the arrangement of
marketing's elements to suit the actual business situation of each business with the aim
is to solidify the position of the business in the market. These 7 elements, also called the
7Ps, are include product, price, place, promotion, physical evidence, people and process.
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- Product: It can be either a tangible good or an intangible service that fulfills a need
or want of consumers. (Jargon, 2018) The main objective of product is to satisfy
the customers.
- Price: Price is described as the amount which a customer pays to get the desired
product or service (Martin, 2014). It reflects what consumers are willing to pay for
it. It is also considered costs to the seller; benefits to the buyer.
- Place: Place of distribution refers to where the product will be sold, the point of
sale. (Kenton, 2018) Place involves all the activities involved in making the product
available to the target customers. It includes distribution channels, intermediaries
etc. It also includes the location where the product is available.
- Promotion: Promotion is the advertisement of the product and services to the
customers to inform the advantage of the products and services by means of
physical and media. It used to promote the product (Jitendra, 2017). It attracts
customers' attention and incites them to buy it. Promotional activity includes
advertising, sales promotion, personal selling, and public relations (PR).
- People: People refer to all the humans that are associated with the product. It can
involve the employees, leaders, suppliers, distributors, sales staff, customers etc.
(Tracy, 2004)
- Process: Process involves all activities that are conducted in order to reach to the
customers. This tool mainly determines the flow of the activities that takes place
from manufacturing to the delivery of the product. (Tracy, 2004)
- Physical evidence: Physical evidence is the material part associated with the
product. It is the evidence of the presence and existence of the product in the
market (Lake, 2018). The associated material can be logos, signs, packaging of
the product that makes the customers rely on them.
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Process The first request for students who want As same as CIE, yhe first request for
to study at CIE is graduate from high FPT Greenwich's students is graduate
school. In the first year at university, from high school. The training course of
students will learn basic English FPT Greenwich consists of 4 stages.
programs with 4 levels corresponding to The first stage is English preparatory.
IELTS 6.0. For students who have Students will be given an English
English certificate IELTS 6.0 or above or proficiency test upon entry, which is
equivalent, they will be allowed to go graded according to the results
straight to the specialized stage. In the achieved. For students with IELTS 6.0
2nd and 3rd years, students will study or above or equivalent, they will be
specialized subjects. In the final year, allowed to go directly to the specialized
depending on the decision of each stage. The second stage is the
student, they will be transferred to the specialized period. Students will study
University of Sunderland or continue to specialized subjects at this stage. The
study in Vietnam. When receiving a third stage is OJT. OJT (On the job
diploma, whether studying at the training) is a special internship program
University of Sunderland or in Vietnam, of FPT Greenwich University with the
students will receive a diploma from the aim of equipping students with practical
principal of the University of Sunderland. knowledge, skills and experience
CIE's curriculum is provided by applied to future jobs. Finally, the fourth
University of Sunderland and the stage is the intensive phase. Students
educational level of students are also will receive more in-depth instruction in
assessed by faculty of the University of their major. (FPT, 2018)
Sunderland. (CIE,
Trungtamdaotaoquocte, 2018)
Physical CIE does not make use of the power of The physical evidence associated with
evidence physical evidence to attract students. the logo of the university.
The physical evidence of CIE involves
the logo of the organization.
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Company Overview
The organization that is being discussed in this article for development of a marketing
plan is CIE. Center for International Education – Da Nang University of Economics is
place which provide of high quality international training programs with a 100% English
training program, it helps learners to approach advanced and modern educational
programs in the world. In the 2000s, realizing the need to study abroad of Vietnamese
students, Da Nang University of Economics went to prestigious universities of other
countries to learn and study the training model as well as discuss about cooperation
opportunities. In 2005, thanks to the first cooperation agreement with Towson University
(USA), CIE had a premise to be established. In the following years, CIE continues
succeed in expanding cooperation with the University of Sunderland (UK) and the
University of Stirling (UK). CIE was officially established in 2006 with the name of Center
for International Education – Da Nang University of Economics. In 2008, CIE officially
established the directorate of the Center, including masters and doctors who trained in
advanced education around the world and the enthusiastic staff. With the mission of
becoming a place which provide high quality international training programs and helping
learners approach advanced educational programs around the world, CIE is committed
that bringing for students a modern and friendly learning environment, domestic and
foreign lecturers with high professional qualifications. CIE will always be devoted and
whole-hearted to students.
PESTLE denotes P for Political, E for Economic, S for Social, T for Technological, L for
Legal and E for Environmental
According to the macro environment, various factors are there like political, economic,
social, technology, environmental and legal, which affects CIE in its marketing.
Political The government creates difficulties that the school cannot eliminate
in the curriculum such as forcing students to take a month-long
military course.
Curriculum with short times. In order to be able to impart sufficient
knowledge to students without having to spend a lot of time, the
lecturers or professors have to prepare the syllabus before class
and plan the reasonably teaching for the student to understand in
short time.
Self-managing. Even though located in the campus of Da Nang
University of Economics and also a teaching unit of the university,
CIE still manages its own activities without relying on its superiors.
Have the skills necessary to become a lecturer. CIE lecturers must
be good at English and have good teaching skills. They must also
be appreciated by the University of Sunderland in the UK.
Economical Investing from saving. With savings, CIE organizes annual activities
on holidays such as Mid-Autumn, Halloween or Christmas for
Center's students to create a healthy and enjoyable playground. It
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Technological CIE is very careful in keeping the image of the center with the
society. The Center does not make any errors in promoting its
business activities. They usually keep up to date on its activities on
their website and Facebook.
Using eBooks: Besides using books, CIE encourages students to
use laptops to assist in finding information and learning easier.
Legal Health & safety legislation: The Center recommends students to
take out annual insurance to prevent accidents.
Depending on opening hours, weather or traffic of Da Nang
University of Economics, CIE establish time table with comfort and
convenience for students.
Environmental Green space: Da Nang University of Economics designs a clean,
cool, airy campus with green trees arranged around the university
and on the way to create a comfortable environment for students.
Waste disposal. Da Nang University of Economics is one of the best
universities in Da Nang which has good and modern waste
treatment system.
Da Nang University of Economics has an easy location for traffic
accidents which resulting in insecurity for the movement of
students. There are many traffic accidents such as car crash when
students leave the university.
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Porter’s 5 forces
Definition
Porter’s five forces model is an analysis tool that uses five industry forces to determine
the intensity of competition in an industry and its profitability level (Jurevicius, 2013).
Porter’s Five Forces analysis is a framework that helps analyzing the level of competition
in an industry. It identifies and analyzes five competitive forces that shape every industry.
It also helps determine an industry's weaknesses and strengths to search for profitability
and attractiveness.
The main purpose of Porters Five Forces is to find a position in an industry where a
company can defend itself against competitive forces or it can influence them in its favour.
(Martin, 2018)
The threat of new entrants in the Center for International Education can be considered as
low to medium. They must takes quite some investments to start a Center such as the
high cost of establishing a system within the industry, expenses must be large enough for
the needs of advertising, research and development and takes a long time to build up
their brand. With more than 10 years of experience in the field of international cooperation
in undergraduate and postgraduate training, the Center for International Education -
University of Economics, Da Nang University has affirmed its prestige and brand name in
Da Nang city and the Central provinces – Highlands (Tân, 2015). It can be said that CIE
has built up a large experience base over the years and a new entrant has not had such
experience, thus creating a competitive disadvantage right from the start.
The bargaining power of suppliers is a relatively high force for the Center. With a mission
to provide high quality international training programs, help students access advanced
education programs in the world, the Center for International Education - University of
Economics, Da Nang University is dependent on cooperation agreements with foreign
universities such as the University of Sunderland (UK), the University of Stirling (UK) and
the University of Towson (Maryland, USA). Foreign universities are considered as
providers of Center by providing high quality training, curriculum and learning for their
students.
The bargaining power of buyers in CIE can be considered as medium to high. Since CIE's
curriculum is an affiliate program with foreign universities, tuition is somewhat higher than
regular tuition. Therefore, in order to retain students, CIE should probably reduce the
tuition fees.
When talking about CIE, the needs of customers, or called students, are access to
advanced and modern education programs in the world. There are many alternatives to
the needs of students. Depending on the financial condition, students can study abroad.
Especially today, the proportion of people studying abroad is very high. Thus, the threat
of substitutes in CIE can be considered at least medium to high.
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Other universities in Da Nang with years of experience such as Duy Tan University and
FPT University are considered as alternatives compared to the Center for International
Education - Da Nang University of Economics. Students can easily find out all the
information about the affiliate program such as fees, teaching and learning programs,
learning environment, etc at other universities on the website of each university. Due to
the emergence of competitors, the number of students registering each year of the Center
is unstable. Therefore, each year, the Center organizes marketing activities to attract as
well as introduce and answer questions about the curriculum and learning for final-year
high school students. Tt can be said that rivalry among existing competitors in CIE is high.
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SWOT Analysis
Definition
Micro environment includes both external and internal factors which use SWOT analysis
as a useful tool to understand the strengths, weaknesses as well as opportunities and
threats of a project or a business organization. (Phuong, 2014)
Strengths: Opportunities:
• As one of the top 5 best universities in • The trend of globalization and
Vietnam, Da Nang University of international economic integration are
Economics has proved its teaching quality increasing: It is beneficial for the
to the whole country. (Ha, 2018) development, creating co-operative
• CIE is the first place in Da Nang which relationships and promoting brand with
offer high quality international training other countries.
programs, helping learners access • Thanks to the need to access education
advanced education programs around the programs around the world of students,
world with rewarding extracurricular linking with foreign universities can help
activities. CIE become more popular in other
• It offers 6 training programs linked to 3 countries and have more opportunities to
prestigious universities, the University of cooperate.
Sunderland (UK), the University of Stirling • Political, legal and social environment is
(UK) and Towson University (USA). stable and safe: CIE is licensed by the
• With over 10 years of experience, CIE – Vietnamese government to operate
Da Nang University of Economics has legally. (Sheraton, 2012)
made it the place students choose to
study.
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Marketing objectives
By analyzing the internal and external marketing situations, CIE has developed their
objectives.
Marketing strategy
Researching on market segments and competitors thoroughly helps CIE identify the main
competitors of the market. Approaching to competitors' curricula helps CIE recognize and
maintain their strengths and overcome their weaknesses. To increase students, it is
required for CIE to enlarge their reach. Stronger distribution channel will approach
products in remote areas as well as nationwide. Creative and attractive advertising helps
CIE compete with rivals and attract students. Moreover, it will create a positive impact on
the minds of students. Targeting is prestigious universities in other countries which helps
CIE to expand and develop their brand to the world, access to advanced and modern
education programs.
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The important thing for CIE is increasing the number of students enrolling as well as
increasing future development. CIE is using 2 market segments, namely demographic
and psychographic segmentation. The demographic segmentation is one of the simplest
and most widely used market segments. It also has its own variables such as age, gender,
P a g e | 21
family size, income, occupation, religion, race and nationality (Bhasin, 2018). CIE applies
the demographic segment as follows:
Targeting
Target market is a market or segment selected for special attention by an organization.
Target market is part of the market which includes all potential customers of the business
and the mission of business is attracting and satisfying customers from that part of the
market. (Mai, 2016)
- Undifferentiated marketing: offering the same product to the entire consumer population.
- Concentrated marketing: selecting one market segment, even though the product may
also appeal to others.
After segmenting the market, CIE has to focus on choosing few of the segments that can
be targeted. Targeting is the process choosing a segment that is most profitable. The
target “customers” of CIE are final-year high school students and university students.
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Positioning
Positioning is the technique of portraying an image in the minds of target customers with
the differentiated traits from the competitors (Wilkinson, 2013). Creating mental image is
the main feature of positioning strategy.
CIE is trying to position itself as a place which provide high quality international teaching
programs in Da Nang. It is expressed by the number of students enrolled and the
achievements that students have achieved.
Product: CIE products are programs associated with prestigious universities in other
countries such as Sunderland University (UK) and Stirling University (UK). These
academic programs are ready to meet the requirements of students who want to
approach advanced and modern education programs around the world.
Price: Although tuition is a bit high, it deserves and fits CIE's curriculum.
Place: CIE consists of 3 branches in 3 big cities of Vietnam: HCM, Da Nang, Ha Noi,
which many students choose to study. As a result, CIE has a favorable position to
approach students.
Process: CIE provides an interesting training process of 4 years at CIE. They give
students a modern, friendly learning environment with dedicated faculty and staff for
students.
Physical evidence: Books, pens, T-shirts with CIE logo printed are always gifts to
welcome students of CIE. Students will learn in a modern environment with full facilities.
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Marketing Budget
For establishing the marketing strategies the organization should develop their budget
over the plans. Before calculating the budget the organization should make analysis over
internal environment to have better acknowledgement over the financial capabilities of
the organization in order to implement the tactics. (Retzlaff, 2018)
2018
Marketing Expenses
(VND)
Total 414,950,000
Marketing Control
Controlling is the process of checking the effectiveness of the marketing plan. It is very
necessary for the marketing team to control every activity taking place in order to improve
or take corrective actions at the right time (Blake, 2018). Controlling can take place in the
marketing plan for monitoring the advancement of the plan that constitutes of the
feedback from the customers, target market sales, budgeting, and share of the market.
Listening and recognizing feedback from students will help CIE become better, overcome
weaknesses and promote strengths. Monitoring, controlling recording all the financial
information would be needed to have better control over the budget. The income and the
expenditure should be monitored.
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CONCLUSION
Following the above studies, the report researched the competition and producing a
marketing plan based on the findings. It compared how Center for International Education
and FPT Greenwich University use the different elements of the 7Ps marketing mix. It
also depicted and produced a marketing plan to meet marketing goals and objectives.
The marketing plan should include all elements of the 7Ps marketing mix, with an action
plan and measures for monitoring and evaluating progress and meeting of goals and
objectives.
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REFERENCES
Bhasin, H. (2018, 05 25). marketing91. Retrieved from marketing91.com:
https://www.marketing91.com/4-types-market-segmentation-segment/