There are four (4) key success factors which are critical to the success of a regular law school industry. These are : 1) Good reputation of the school; 2) High quality of instruction; 3) Consistently high passing percentage of graduates in the bar examinations; and 4) Consistency of graduates making it to the top 10 in the bar examinations.
Currently, Far Eastern University Institute of Law (FEU-IL) has an average of 22.14% passing percentage in the bar examinations in the last five years. Compared to leading law schools such as Ateneo de Manila University School of Law, University of the Philippines and San Beda College of Law (average passing percentage in the last five years is 89.6%, 77.37% and 84.29% respectively), Far Eastern University definitely does not belong to one of the preferred law schools in the country.
At present, FEU-IL has inadequate facilities and library collection. It does not join in Law Debating Competitions and does not even have an official FEU-IL Journal which other leading law schools would normally have.
However, FEU-IL has a dynamic and proactive Dean who has strong linkages with Law schools in the Philippines. This distinct competitive advantage can be utilized in order to make the Marketing Plan an effective and successful one for purposes of 100% enforcement.
Several marketing strategies were formulated for the FEU-IL. Some of these are as follows:
1) Product Development Strategy = This includes enhancement of the Mission / Vision Statement of the FEU-IL, improvement of the facilities and library collection, enhancement of the IL curriculum which would eliminate the Socratic Method of teaching, involvement of faculty members in the syllabi construction and curriculum development for IL, creation of the FEU-IL journal, and conducting seminars for lawyers under the Mandatory Continuing Legal Education Program (MCLE)
2) Product Positioning Strategy = This includes the formation of the FEU-IL Debating Council, and the formation of the FEU-IL Website.
3) Predatory Marketing Promotion Strategy = This distinct strategy involves campus visits by the Dean of the Institute of Law in cooperation with the Admissions and Placement Office.
4) Other advertising and PR blitz – This includes print advertisements and write-up showcasing the top graduates of Far Eastern University, distribution of flyers, TV guestings and other press releases. The marketing expense rate for 2006 (1.72%) is considered within acceptable range. As a result, marketing plan will post a phenomenal growth rate of 46.90% by SY 2006-2007.
With the execution of this marketing plan, FEU-IL will become the preferred law school in the Philippines as it achieves the following in the year 2007:
1. Increase market share by 5%.
2. Reinforce the brand to aspiring lawyers through niche marketing. 3. Increase visibility in all legal fora.
4. Attract better quality students in order to raise the bar passing percentage of the school. 5. Increase profit by 10%.
CURRENT MARKETING SITUATION
TYPE OF INDUSTRY:Regular Law School Industry
SIZE OF THE INDUSTRY:
This marketing plan will focus only on the regular law school industry in the NCR Region (such as Ateneo de Manila University (AdMU), University of the Philippines (UP), San Beda College (SBC), University of the East (UE), Lyceum University (Lyceum), Arellano University School of Law (AUSL), San Sebastian College (SSC), Manuel L. Quezon University (MLQU) and Far Eastern University (FEU). This excludes hybrid programs such as the JD-MBA program.
Over the years, the number of law schools has steadily increased and recently, the Commission on Higher Education (CHED) reported that there are 104 law schools operating in the country.
The great majority of lawyers...