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... [continues]
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