Market Analysis Of Sydney University In Australia

Market Analysis

The actual market of higher studies is becoming crucial gradually. It is because of the high demand and the interest of the higher studies positively. The students have the immense passion for owning degree from the renowned universities. Some of the students have thirst for high score in having the degree. The students seek university according to their individual interest for making their career. In this regard, the universities have to give priorities to perceive the demands of the students to market effectively. Universities have also need to highly concerned to give the students a prospering career. In order to analyse the market of the universities some of the factors are important (Warnick, Bojanic & Xu, 2015). These are a brand of the universities, a career of the universities, a reputation of the universities, and students’ career of the Universities and so on. Nowadays students are extremely desperate for having higher studies. Therefore, the market of the universities is extremely competitive and aggressive. The politics of universities are highly crucial that is needed to be considered in this particular dissertation. Many registered university organisations and private organisations have come into the open market to offer degrees in the higher studies. In this specific assessment, marketing and competitive environment of Sydney University in Australia are analysed doing qualitative research mainly.

Market analysis

In Australia, higher education is a vast market. There are many international students comes to Australia for higher education along with local students. The local students also have diversity. There are English speaking students and on-English speaking students who come from other countries and lives permanently in Australia. Therefore, the market is vast and if play well then a university can get a high amount of students and generate good amount revenue every year (Li et al. 2013).

The universities in Australia make a great contribution to Australia’s economy. The regional universities are the one who is supporting regional economies. They have more than one million enrolled students and more than one million staffs. The international education is the Australia’s largest exported service. The government of Australia continuously helps the universities to grow. The revenue generation per year is average 31 billion dollars. From 2012 to 2017, the education industry grew by 4.5 percent.

According to Green & Henseke (2014), the main industry products are bachelor’s degree, master’s degree, doctor and other postgraduate degree and there are several other educational courses and research projects.

PEST Analysis

Thus, it is a very competitive industry in Australia. There are many future opportunities in this industry. Therefore, the competition is growing every day and there are new competitors are coming in the market. All the universities in the industry want to go off the top list and hence, the competition is growing eventually. In order to do that, they are making new marketing plan and policy and trying to implement it (Ho, 2014). This activity brings new students and helps the students overall. In order to cope up with the competition, it is important to increase their educational quality by giving job after completion of the course that is profitable for the students. Apart from these, they are introducing various new offers for students and those are ultimately helpful for students.

Pest analysis

PEST analysis consists of the political, economical, social and technological analysis of any selected organisation. PEST analysis is a part of external analysis at the time of conducting market research or strategic analysis and it explores several macro-environmental factors. It is a tool to know if the market is growing or not, business opportunities, potential and way to generate revenue (Shabanova et al. 2015).

The pest analysis of Sydney University needs to be done to know what are the social, political, economical, technological opportunities are there, and marketing experts can develop plans according to those.

There are vast opportunities for Sydney University in future and the Australian government helps the education system to grow. This is because the education industry in Australia has a good economical impact on national economy. Therefore, if the Sydney University works on the advantages that are given by Australian government, then they can develop a lot and can be one of the best universities in the world. However, there is some small problem, which needs to be discussed, and the Sydney University needs to work on it truly.

Political environment: There is some government proposal that causes the risk for the Sydney University. They stated that the university is not providing a quality education be not up to the mark after giving a good amount of advantages. The professor of the university needs to be change or train more. There are some changes needed to be in a syllabus and all the students are unable to get a job after passing out from the university (Grünig & Kühn, 2015).

Economic environment: According to Anton (2015), the overall economic growth is good. There are many students come to get higher education in this university. However, in order to approach more, a student the university needs to provide some more scholarship options and other economic helps to the students.

Political environment

Social environment: The social environment is overall good in the university. All the students are taking education peacefully together. There are local, national and international students with an English and no-English background. There are options for accommodation that is very helpful for students coming from other countries. There is on-campus accommodation option in the university that is cheap and helpful.  

Technological environment: The students can use the internet in the university. They need to use ebooks and websites for their studies along with books. There is a student portal in the university and there are almost no security risks. The university has a vast presence in social media and internet for marketing purpose (Waltinger et al. 2013).

Competitor analysis

The education industry is a vast and growing industry in Australia. There are many universities and educational institutes are in the industry. Therefore, the competition is big in terms of getting students and generating revenue. The government of Australia has been taken an initiative to grow this industry and hence, the number of universities is growing (Grant, 2016).

To keep themselves in the competition, the universities and the educational institutes are developing new marketing plans daily and they are focusing on giving high-quality education and other opportunities. Therefore, the competition is getting high and everyone tries to give his or her best. As a result, the educational industry growing overall and there are many students who are coming from outside of Australia to get a high quality higher studies.

The top universities in Australia are University of Melbourne, Monash University, University of Queensland, and University of New South Wales etc. All most all universities have undergraduate course, post graduate course, doctorate, research and other short term and long term courses (Yu, Wang & Brouthers, 2015). Therefore, the students can choose the university according to their needs and budget. In this case, whichever university gives good opportunities to the students in terms of scholarship, offers, accommodation, and job after completing course etc, that university has a higher chance to get a high amount of students every year. To do this, the university needs to plan their marketing accordingly. Along with those, the educational quality, professors and the overall university behaviour in terms of ragging, management help etc needs to be good. These factors are also important along with the money and accommodation.

Therefore, the competition is high within the educational industry in Australia. All the universities and educational institutions are developing them to to be the best for getting more students. This makes the environment tough but the students are getting benefit from it in terms of quality education, accommodation, scholarships etc.

Economic environment

SWOT analysis

SWOT analysis needs to know the Strength, Weakness, Opportunities, and Threat. By SWOT analysis, an organisation can analyse four key factors and by them, they can plan their future marketing strategy and develop ownself accordingly (Hankinson, 2015).

Brand positioning and creating value is the important for every organisation to develop themselves. The Sydney University also needs to look after it in order to develop them and get a higher amount of students. They need to analysis the market first and then develop a marketing strategy for development that will help them to keep in long run. In Australia, the education industry is growing and for the help of the Australian government, there are many, educational institutes and universe are coming in the industry. That is why the competition is growing every day (Baines et al. 2014).

To remain in the competition, the Sydney University needs to develop brand value. They need to give an offer, scholarships, cheap accommodation, job after completion of course and most of them high-quality education. These things will help them to make good brand value. In addition, students will be attracted to them. After that, they need to position their brand in international as well as a national market. They need a proper marketing plan which is unique and by which they can reach within maximum numbers of students. If they do all these, properly they can experience a good development every year.

Sydney University is one of the best Universities in Australia. The university is very popular in the name of the Sydney University and it is a University of Technology mainly. Hence, the market of the university is extremely high as now it is going the age of the technology. For the assessment of the society and the economy, the universities have a major role. That role defined the marketing aim of the universities predominantly (Amaldoss & Jain, 2015). A university has a high need to draw national and international students in order to be driven very successfully. In this regard, the promotional objectives of a university are an important factor in facing the competition of the market boldly. A university needs to give the students significant facilities and amenities to support all kinds of students – local students, national students and international students respectively. It is important to draw the attention of the universities market. The demands and the needs of the mentioned three kinds of students are different. The combination of these demands and the needs are the parameter to fix the focal point of marketing and promotional objectives in this regard. The advertisement should announce giving priority to both national and international students. Drawing the talented students needs to be one of the marketing aims of the universities. The Sydney University is highly strict in the motto.

Social environment

According to Pike & Page (2014), the institute of technology made the potential engineers. The students’ prospect and students’ career of the university is extremely good. Therefore, the students across the Australia come here to do a study. It is not only the era of technology but also of globalisation. For marketing effectively, a university needs to consider globalisation positively and in this regard; cultural diversity needs to be one of the vital university codes of behaviours. According to globalisation, a successful organisation is determined by the collection of cultural diversity. Migratory students are the premium priority of a university in this regard exclusively. As if, the migratory students are not harassed by the internal or external politics of the university that is needed to be assured by universities positively. Universities and an informational economy are interlinked with each other to make the welfare of the global society. In regard of the Sydney University, informational economy and informational technology both are attached. The politics of the universities influence a lot in making a university to market and advertise (Huang & Sarigöllü, 2014).

Marketing mix strategies

The business of universities is giving education. In building society and developing economy a university has deep significance in this regard. That is why it can be said that the business of universities purposed in developing society and economy. The universities are mainly revenue-driven organisation. Hence, profit making is one of the basic objectives of university marketing. Considering the high competition of university market, doing surviving strategy is important (Rahmani, Emamisaleh & Yadegari, 2015). In this regard, the best marketing strategy is none but the marketing mix. The marketing mix strategy guides the organisation to be hooked with the market research for all the time. Therefore the four important factors are – products, price, place, promotion. University marketing is not any exceptional marketing. That is why as the other profitable organisation a university needs to consider reliable business politics and strategies. Now of globalisation, mix marketing is one of the best and efficient marketing frameworks. According to mix marketing, the Sydney University needs to ensure high-quality education, reasonable price of study package, rational distribution of education without cultural discrimination and effective promotion of higher study features and higher study benefits. Considering the four proposed things assures effective marketing plausibility. Mix marketing is highly popular in the age of technical competitive market. The motto of the marketing is rational, ethical, compact and reliable (Leonidou et al. 2013). Mix marketing is one of the straight cut business strategies to move forward. Straight cut principles befit well with the strategy. As the project institution does an ethical business, the strategy is extremely reliable and appropriate in following.

Technological environment

Competitive strategies

Hepp & Krotz (2014) stated that demand assessment of the higher studies and quality assessment of the students’ careers are two premium factors to a university to make the competitive strategy. In the university market, now there are innumerable private institutions offering the higher study scope to the students. A university needs to consider it positively. University market is in outburst. That is why now to the students there are innumerable options. In this situation to draw the potential students is tough. In this reference, a university needs to offer some trendy facilities and amenities with a noticeable career. The study system of a university matters a lot to draw students (Hill, Jones & Schilling, 2014). The study system needs to be according to the auto-updated technology that a university needs to assure positively. Besides educating effectively, the study system also needs to be scoring. In the regard of competitive strategy of universities, the most important thing is to offer the promising placement (Eden & Ackermann, 2013).

Therefore, a university needs to have bonded with the best of best-globalised organisations. After all, students take higher studies for making a well-ascending career. Hence, the Sydney University needs to offer ambitious placement and career to the students positively. The researching project University is a brand and in this regard, students have well passion and expectation from this university. Another two important features of a university are to have the well-globalised staffs and efficient faculties. These two features are important to motivate the students and attract the students effectively. A university needs to be influential positively according to human resource management. It is one of the key conditions of marketing policies and strategies. Giving the students well globalised and open environment is a need of university in making the marketing strategy (Rothaermel, 2015).

Media and budget allocation

Media is related to promotion and communication. Budget allocation is related to economic planning. The two factors are the two-premium weapon of doing business. The proper use of the two mentioned tools determines the business success positively and effectively. The effective promotional assures the promising stakeholders of the business. The university business is quite different from the other businesses as it is the topmost academic business. University students are the builder of the society and the economy (Soma et al. 2014). Hence, universities are the driver of the society. That is why the business needs a deal of ethics, humanity, moralities. The premium stakeholders of the business are the students. Students are the customers or clients in this business. It seems that the use of a word is different in the businesses. The advertisement of the university marketing needs to be concerned about using the words or the language exclusively (Boutilier & Lu, 2016).

Competitor Analysis

Today, at the age of technology networking is the premium medium of communication. Hence, a university needs to have a clear website with international effect. The website is the main media of the university. In this regard, the authenticity of university website matters a lot. University website needs to contain all the relevant information of communication neatly and cleanly (Shoemaker & Reese, 2013).

Well-planned and well-monitored budget allocation is one of the major successes of university business. University business is about huge dealings of money. In this regard, a well-ministered budget allocation is badly necessary for running a university.

Conclusion

Sydney University is one of the well-ranked institutes of technology in Australia. In this regard, the research has been found that the university has well follower of all the marketing norms and conditions positively. The university also has the success of the promotion. That is why the university can draw a good number of talented students. The university is highly successful in giving the students promising technical career. The principles and the study system of the university are of the good acclaim positively. The researching project organisation is incorporated and well ministered. In this institution, there is influential social and global environment. The institute has great regard in dealing with cultural diversities. Hence, a positive global environment makes a student build a global career and society

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SWOT Analysis

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