Branding, Pricing, and Distribution Strategies
ASSIGNMENT 3
MARKETING PLAN
FOR
TEACH CHINA
BRANDING, PRICING, AND DISTRIBUTION STRATEGIES
This section of Teach China’s Marketing Plan will focus in on key factors related to branding, pricing, and distribution: creation and development of the domestic and global product branding strategy; determination of optimum pricing strategy; looking at how the pricing strategy supports Teach China’s branding strategy, preparation of a distribution channel analysis, justification of opting for a push or pull strategy; an overall look at how the distribution strategy fits the product/service target market.
It is very important that a start-up company, such as Teach China, build and develop a strong product brand. It is essential that such branding solidify the link between the values of Teach China and its customers. Because of the competiveness of the education market branding the commodities and services of Teach China must be unique. Additionally, branding education is considerably different than branding a commodity. [ (Gupta & Singh, 2010) ] According the Dr.’s Gupta and Singh, the movement of a globalized world to a knowledge economy opens immense opportunities for building education brands. [ (Gupta & Singh, 2010) ] Gupta and Singh also warn against the tendency to confuse “branding in education as making enough noise to get people to enroll.” (2010) In determining a brand for Teach China it is imperative that the numerous stakeholders in this market are taken into consideration. Gupta and Singh suggest that a “careful balancing of the stakeholders’ interest is a key requirement of the leadership of each education brand. They identify the stakeholders as, students, faculty, prospective employees, parents and society. Research of current literature show that educational services earn their repeat business by word of mouth of well satisfied and well placed individuals. [ (Gupta & Singh, 2010) ] This idea is further supported by a
MARKETING PLAN
FOR
TEACH CHINA
BRANDING, PRICING, AND DISTRIBUTION STRATEGIES
This section of Teach China’s Marketing Plan will focus in on key factors related to branding, pricing, and distribution: creation and development of the domestic and global product branding strategy; determination of optimum pricing strategy; looking at how the pricing strategy supports Teach China’s branding strategy, preparation of a distribution channel analysis, justification of opting for a push or pull strategy; an overall look at how the distribution strategy fits the product/service target market.
It is very important that a start-up company, such as Teach China, build and develop a strong product brand. It is essential that such branding solidify the link between the values of Teach China and its customers. Because of the competiveness of the education market branding the commodities and services of Teach China must be unique. Additionally, branding education is considerably different than branding a commodity. [ (Gupta & Singh, 2010) ] According the Dr.’s Gupta and Singh, the movement of a globalized world to a knowledge economy opens immense opportunities for building education brands. [ (Gupta & Singh, 2010) ] Gupta and Singh also warn against the tendency to confuse “branding in education as making enough noise to get people to enroll.” (2010) In determining a brand for Teach China it is imperative that the numerous stakeholders in this market are taken into consideration. Gupta and Singh suggest that a “careful balancing of the stakeholders’ interest is a key requirement of the leadership of each education brand. They identify the stakeholders as, students, faculty, prospective employees, parents and society. Research of current literature show that educational services earn their repeat business by word of mouth of well satisfied and well placed individuals. [ (Gupta & Singh, 2010) ] This idea is further supported by a
Bibliography: Abhijit, R., & Chattopadhyay, S. P. (2010). Stealth Marketing as a Strategy. Indiana University, Kelley School of Business. Retrieved May 07, 2012 Anonymous Rimlinger, C. (2011, December). Push and Pull Marketing Strategies: Using Them to Your Advantage. Franchising World, 43(12), 15-16. Retrieved May 10, 2012, from http://search.proquest.com/docview/913283066?accountid=10913 Sands, M Wasserman, E. (2012, May 08). How to Price Business Services. Retrieved from Inc.Com: http://www.inc.com/guides/price-your-services.html