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Marketing plan

My marketing plan will be based in a study academy near the Carlos


III University. This academy will teach the most difficult signatures
taught at the University. I am going to divide the marketing plan week
by week selecting the key concepts and applying them to my study
case.
Part 1: What is marketing?

The importance of marketing: First of all, I have to understand


the market I have to design what I am going to offer different to
my competitors because of it is an existing market. I can
engage with potential customers (University students) get
feedback and adapt my ideas to their needs.
Marketing perspectives: I haver to consider the 4ps. What
product I am going to offer: reinforcement classes of hard
University signatures; How to promote it in a way the buyer
gains awareness and interest (); A affordable price for the
students and a place to locate the academy.
I also have to offer something different to my competitors.

Part 2: The perceptual map

The main segments in the market, their size and


potential/segment to target: the unique segment and because
of that the segment to target is students between 18 to 25,
80% male and 20% female with study difficulties in some
university signatures and with enough money to pay this extra
classes. There are 20.000 students approx. at the University.
Where the main competitors are: there are two competitors.
The main competitor has the 80% market share; the other
competitor has the 20% share. The main competitor is the
oldest and more experienced competitor in that market. Both of
the competitors have the study academy near the University
campus.
The 4ps: the product I am going to offer is 3 study options: a)
study and pay per individual signatures, b) study 2 or more
signatures with a discount, c) get a full year flat rate with all
signatures the student need. The price a) about 70/month per
signature, b) 70/month the first signature and getting 20% off
in the next signatures, c) 600/year. I would promote the study
academy giving some info pamphlets in the campus entries.
The place of the study academy will be near the university
easy to reach for the students.

Part 3: Evaluating marketing plans

Fixed costs: energy cost (100/month) + venue hire


(500/month); variable costs: the wages of employees
(2000/month).
Revenues: about 50 students x 80/month = 4000/month.
Break-even point: 28 students per month (27.27). So I can see
that this project is viable only if we get 28 or more students. We
could reduce the fixed costs like energy cost using LED lighting
for example.
Part4: Introducing a new product to the market

I would introduce the product trying to build awareness for


the students with low prices and bonus. A good and
comfortable place (the best competitor has an awful study
academy). An intense but low cost promotion giving
pamphlets in the campus entries. As the business started
growing I would reduce the promotion and promote it just at
the beginning of the university courses in September.

Part 5: Why do customers buy?

Need recognition: they recognized that they need extra


study classes in October-November when the signatures
become harder. Their searching process is easy because
there are only 3 study academies for this targeted market.
They make the evaluation basing on the experience of other
students who were in some of the academies. They purchase
after evaluating the best academy. The post purchase is very
important in that business because they will come back to
the academy if they pass the signature they were enrolled.

Part 6: Competitor analysis.

I would have one important competitor who gets the 80% of


the market share. It has high prices and awful place (study
academy) but they got lot of time in the business so they
have kind of monopoly. My differentiation would be based
on lower prices and a good and comfortable study academy.
My teachers would be university alumni who knows de
university organization, the way professors teach at the
university, how they evaluate etc. So we can offer to the
alumni their first job while we can maintain human resources
low (we would pay them less vs an experienced teacher).