The University of Phoenix Marketing Strategy Paper
A business must be highly competitive in the business markets today. For a business to grow successfully, remain sustainable, and competitive a business needs a good understanding of a marketing plan, and the knowhow to put the concepts to work for the business achieving a successful marketing strategy. Remaining successful when an economic growth has leveled out shows a sustainable business. Competitors that follow the same marketing concepts will need to develop a good marketing plan, and implement the concepts into a marketing strategy to remain a competitive business. A good marketing strategy contains a marketing plan describing the products offered, and taking into account anticipation of competitor moves. In this paper the subject will describe the four P components and how the University of Phoenix has implemented the P’s, and maintained a marketing strategy keeping the university competitive. Included in these concepts of The University of Phoenix marketing strategy is the discussion of the target market, and the marketing components the university has used before implementation of the P components in the marketing strategy. The University of Phoenix Target Market
The University of Phoenix is a for profit educational institution established by the Apollo group in 1976. The university’s first target market were working adults seeking higher education with the convenience of class times at the university, and offering classes at local sights so Americans could succeed in the constantly changing professional world. Then in1989 the university opened their doors to the online programs and a new target market was discovered. Although in the past the Apollo group offered adult education for 25 years, the formation of online classes attracted the slightly older student with a minimum enrollment age of 23 and the average age of 34. The University of Phoenix firmly believes with the university brand, improving their product based on feedback, and sticking to the mission is how the university has sustained their great success this far (Heller, 2001). The online program in 2000 issued an aggressive marketing campaign including a mix of marketing techniques like television advertising, banner advertising, direct mail, corporate referrals, alumni, and student referrals. This campaign captured all of the target markets and was very successful with attracting online enrollment. Television advertising on CNN, MSNBC, and Discover channel was the most successful in attaining higher enrollment (Heller, 2001). Not a year after the campaign the university experienced 86.5% growth in enrollment from the prior year’s experience of 50% to 60% enrollment growth (Heller, 2001). The university has a new strategy for 2011 called concentrated marketing or niche marketing the strategy of going after all of one, or a few smaller segments or niches. The concentrated marketing approach will enable the university to attain knowledge of consumer needs in the niches it serves. Then fine tuning the products, prices, promotion, and place to customer needs therefore marketing more effectively. The university can market more efficiently because some segments are quite large attracting several competitors whereas niches are smaller attracting only one or two competitors. Smaller Niches can focus his/her limited resources on serving niches overlooked by larger competitors gaining a foothold against the larger competition The university’s 2011 target market is young students they see a big niche among young students with jobs, and recent graduates. The university is offering online classes at reduced costs calling this a niche with potential (Gilbertson, 2011). A horizon of young recent graduates and other young students with jobs are working but not in a career, and are seeking a more flexible way to attend college. The increasing percentage of high school students going on to college...
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