MarketingPlan for Hertfordshire Business School (HBS) in ChileIndex 1. Introduction 2. What is Hertfordshire Business School(Internal Situation- Strength & weaknesses)?3.
What are university’s prospects in Chile(External Situation- Opportunities & threats).4. Where do we want to be?5.
Plan to get to the objective.6. Budget for the goal.7. Conclusion 1.
Introduction: In the assignment earlier, secondaryresearch and analysis were done upon macro environment in South Africa andChile, which is a lot different from what is being done in this report as thisis about a marketing plan for HBS in Chile, which was concluded from theprevious assignment that there are more prospects for entering into theeducation market there (See Appendix A). Also, there will be a look throughevery aspect for university’s goal like strength and weaknesses of HBS’seducation services as well as opportunities for and threats against in Chileanmarket. 2. What is Hertfordshire Business School(Internal Situation- Strength & weaknesses):HBS is a part of University ofHertfordshire, which is not only one of the UK leading business makinguniversities but also it has been awarded with silver ranking in TeachersExcellence Framework in June’ 2017, university’s graduate employment or furtherstudy rate is 96.1% (HBS rate is 94.6%), we have world class facilities like university’simpressive law school building in the world worth £10m, £250,000 auto-mobile simulator and four-post vehicle dynamic rig., dedicatedfield stations for geographical and environmental sciences.
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, one of the best andsecured accommodation facilities as well as £15m Sports Village with110-station gym, a floodlit 3G pitch and tennis and netball courts; a 25meight-lane swimming pool; a 12m climbing wall, and a physiotherapy and sportsinjury clinic. and many more. Currently near 5000 students are studying in theuniversity and its partners worldwide.HBS is accredited by many statutorybodies like CMS and many other. Has more than 2500 international students fromaround the world. HBS has also contributed a great deal in UK’s economy of about£1.
03 billion.Other than setting foot in the Chile’seducation market the vision is to become a world-renowned university.HBS provides courses namely: -Under graduation in: i.
Accounting ii. Accounting and Finance iii. Business administration iv. Business Economics v. Event management vi.
Human ResourceAnd manymore subjects…. And foraround £9000 per year for tuition fees Post-graduation Accounting & Financial Management Business Analysis and Consultancy Business and Organisational Strategy Finance and Investment Management Global Business (Dual Award) Human Resource Management International Business International Tourism and Hospitality Management Leadership and Management in Public Services Management Marketing Master of Business Administration (MBA) Project ManagementThese courses have similar fee structure as for under-graduationstudents Apart from above some weakpoints to be considered:Teachers to give some more personalattention to students i.e.
coordination between students and teachers 3. What are university’s prospects in Chile(External Situation- Opportunities & threats)?Macroenvironment- Special analysis (see Appendix – A) Overlast 20 years Chilean higher education has changed drastically, experiencing aboom in enrolments. In 2011, seven out of ten students were the firstgeneration from their family accessing university. From 1990 to 2011 the grosshigher education enrolment ratio increased from 14 percent to over 50 percent.Total enrolments have increased from about 660,000 in 2005 to almost 1.2million today. (https://wws.princeton.
edu/sites/default/files/content/Chile%20Workshop%20Report_HigherEd%203.15.pdf) Whatis seen in the special analysis the opportunities we get in the Chile are morefor students who are more interested in learning English language and if HBSwants to enter Chilean market, the approach should be for the students whowants to learn for international levels, as being an international university. Thecourses should contain contents that will help the students in pertaining everyaspect of doing business in maybe every part of the world. Learning English languagebetter can also be their approach when they look forward to study in a foreignuniversity, so providing them that should be at focus too. Ifwe look for threats in Chile, we will look forward to very high risks as Chileis full of good universities in some of which students can study for free ofcost as the government there it is bearing the cost after the students’ protestedfor it. Also, the threat that a new university might enter into the same marketwith the objective of free education, this might result in higher competitionsthere. 4.
Where do we want to be?Hertfordshire Business School has comeso far to establish its name throughout the country and many parts of the worldthat it doesn’t want to stop there. Some part of the world is still left tostretch its legs to. Amongst them is country Chile which has been doing greatin terms of business in which education system is also being stressed upon interms of encouragement. And that is why, HBS is looking forward to step intoChile education industry.5. Plan to get to the objectiveToget to the objectives one has to plan marketing. Over the past 60 years,marketing has moved from being product-centric to being consumer-centric. Todaymarketing is seen as transforming once again in response to the new dynamics inthe environment.
It is seen that the companies expanding their focus fromproducts to consumers to humankind issues. Marketing 3.0 is the stage whencompanies shift from consumer-centricity to human-centricity and whereprofitability is balanced with corporate responsibility (Philip Kotler, 2010).
Ourproduct:HertfordshireBusiness School will give an opportunity to all undergraduate and postgraduatestudents to choose amongst several undergraduate and postgraduate coursesmentioned above. It wants to give every deserving student an equal opportunityto study in United Kingdom. HBS is also providing the Chilean students a chanceto come and explore the different economic and cultural diversity by givingthem visa to United Kingdom with providing them a safer accommodation as wellas learning environment. For admissions HBS has to set some eligibilitycriteria i.e.
if a student wants to study in United Kingdom then he or she hasto give IELTS or TOEFLE and has to obtain certain marks (which can be lowerthan usual as it depends upon country as Chileans don’t have English as acompulsory language subject).Promotion:Promotionis to increase popularity of the product. Will have to advert the plan in theform of hoardings outside schools and universities and also through newspaperswith common language in Chile i.
e. Spanish. We can place people from ouruniversity in order to council their students in the school (for under graduatecourses) and colleges (for student exchange and post-graduate courses). They cancontact us through them and vice versa.Wemay provide them scholarships in order to give them opportunities to bear costof studying according to their qualifications.
Pricesof our education services (process of pricing):Pricingis the strategy with which can meet common interests i.e. institution’s costcoverage as well as profit margin and students’ interests to get qualityeducation Pricesare to be same for Chilean students as they are for students from other part ofthe world Thoughprices of our education services are very high according to Chile E
