Executive Summary This report discusses the details of our comprehensive strategic marketing plan for Capilano University’s Online BBA Degree Program. The purpose of this report is to explain in detail each step of a strategic marketing plan that will guarantee the success of Capilano’s New Online BBA Program. Our mission statement will be our key aspect that we must follow to keep the quality of our program throughout its ongoing life. We like to focus our attention to promote quality online education that will focus on character and cultural transformation for the purpose of keeping the integrity of the program at high levels. We plan on focusing our attention on both financial goals and non-financial goals. Our financial goals are based off of keeping the integrity of the program, keeping tuition at a reasonable cost for students, and being able to turn a profit for further development of the program. As our program is fully produced, we find it important that Capilano Univesity creates a core competency that focuses on using the advances in technology to the students advantage. As we are the first University to offer an Online BBA Program, we have the ability to make the “first mover advantage”. This will help us gain and continue to gain the largest portion of the market share. Creating an extensive SWOT Analysis for Capilano University’s Online BBA program helps us decide how we should focus our attention to specific threats and weaknesses. It also helps us decide what are our Strengths and Opportunities that we should capitalize on for the benefit of the project. Focusing our efforts towards specific targets market will help us create a dynamic marketing campaign that will be both effective and efficient. We find that narrowing it down to geographic, psychographic, behavioural, and demographic is the most effective way of creating these target markets. 1 Our objectives for our target market have been narrowed down to different registration years. In our first year we would like to focus our attention to registering students from the lower mainland with subtarget markets within that. In our second year we would like to see an expansion of registration in other regions of B.C, and then focusing our attention to other geographic regions of Canada. We find that a detailed description of the product is imperative to the success of the program. This, in turn with our specific branding, will create an expansive/qualitative program that will create its own marketing within itself. Pricing will be a key factor that will prove the success of the program. We would like to keep the price of the online courses at a lower cost than traditional courses, but not so low that it questions the quality of the program. We believe that this is an important point for students that will decide to register in the program. We would like to create an approach to distributing our marketing plan that is beneficial to many parties of Capilano University. Choosing to hire students that are in their fourth year marketing students will prove to be an innovative idea that is socially responsible. We have decided to distribute our advertising budget through a variety of ads in newspapers, brochures, television, posters, and the internet. We would like to create pre/post-test evaluations on all of our advertising campaigns to ensure their effectiveness. Following our extensive Strategic Marketing plan, we believe that the success of Capilano’s Online BBA Degree Program is a definite. 2 STRATEGIC FOCUS AND PLAN Mission Statement: Capilano University offers online BBA to promote quality online education, character and cultural transformation, to meet the challenges of our time through professionalism for the purpose of addressing local, national and international business issues in key areas. Capilano University seeks to achieve the following goals: Nonfinancial Goals To achieve our vision, how should we appear to our students Sustain our ability to change and improve education and satisfy our students. Provide flexibility of learning on the go is a huge benefit to our students that don't have enough time. To teach students who are living in remote areas or are restricted to their homes. Provide quality online education to our students while maintaining their demanding job or lifestyle. Financial Goals Price will be lower than in-class course format. Continuing to create profit without financial hurt to students To implement strategic investments to further develop the program 3 Marketing and Product Objectives: Core Competency and Sustainable Competitive Advantage In terms of core competency Capilano University seeks to achieve a unique ability to quality online education. Find effective ways to offer online courses with the technology that will be used will need to be compatible with Capilano’s current technology and the student’s home computer and laptops. Since most technology is going web based, Capilano should consider that as well for the online BBA. Capilano should keep ahead of the competition is by giving this option to its students first. Capilano would set the standard for other colleges and universities in the area. SWOT Analysis Capilano University’s Strengths: Has 8000 Students and is growing Has been in the business of teaching education for over 40 years Has 3 Campuses spread over South Western B.C Has been awarded with British Columbia’s Education Quality Assurance Designation Has a high percentage of Teachers who are practicing in their fields Has Strong Online Support Staff Is becoming an Accredited University in the AUCC this year Is Financially in an upswing due to Investments and Innovative Ideas May have a Student Health and Dental Plan by next year which will appeal to all students 4 Capilano University’s Weaknesses: Has only been a university for a few years Unknown Training problems with teachers of online programs Implementation costs are relatively unknown Has only a few online courses Capilano University’s Opportunities: There is no B.C University that Offers an Online BBA Program Have the ability to get first mover advantage During Economic Downturn Online Programs appeal to people who need to work Online education appeals to people in many locations Capilano University’s Threats: Is known as a secondary University to SFU and UBC Online Education is known as a lower class degree Many Online BBA’s offered through other websites Rules and Regulations could set boundaries Transferability of degree to other universities/master programs Target Market Geographic: All the people in the world can be our target for online courses. Capilano University is located in North Vancouver, which is in a province of British Columbia. As a target market we can target all people in the 5 province of British Columbia. Canada’s weather is generally cold in different regions so people can use these online courses to stay at home for their studying. Vancouver is the eighth largest city in Canada it has a population of 2.2 million. This population is the population of all the urban, suburban areas of Vancouver; So Vancouver can be targeted as a large city with much population for online BBA courses. Immigrants are coming to this country every day and these people are a great target because of their English Language problems. Their first language is not English and they can use online courses to use a dictionary to find out words when they are studying and it can help them to increase their English language. Psychographic: We can target people who are too busy in their life and don’t have much time to take usual courses in the universities. For example, full-time employees who have to be present at their work all the time are more considered to take online BBA courses. In this group, some don’t have sufficient income and think of alternative business activities that they might be able to do in the market. This will interest them to take online BBA courses. Also people who have weakness in their public relations and communications prefer to take online courses rather than attend to classes with other students. For instance, shy people are not used to speak much and prefer to spend their time lonely. They are more likely to take online BBA courses. Behavioural: People with benefits sought can be found in different level of living and different social status. People who care more about economical efficiency in their expenditures and focus more on their own benefits. This group of people is more targeted than others. People who are more interested in using computers and internet in their spare time are more likely to take online courses. Although These kind of people 6 are involved in some other activities in their daily life, they use their evening and weekend times to use their computers for online courses. There are people who always feel that they have to increase their knowledge and use the best of their time in order to reach higher status in life. Although they might be involve in some usual courses, but they still interested in taking online courses. Demographic: Generation X and Y are the most common age group for taking online courses. People within the age of 30 to 50 are creating the majority of the population in Canada. In this age group people are almost done with their studying and they are working; therefore, an online course is a great opportunity for them to be educated and get higher degrees beside their jobs. The target market is exactly people within this range. Most of the students in Capilano University are female. According to these stats we can understand that men are not attending universities as woman. Men mostly leave the degrees behind after high school and enter a business to earn more money, so these people are more attracted to take BBA online courses than others. People with low average income are more likely to register in Online BBA courses because they don’t need to pay different cost for transportation and many more. People who have completed high schools but didn’t have a chance to attend universities and people with a bachelor of some non-related business courses can be targeted according to education. In Canada we have many people with different cultures. People who came from Asian or Middle Eastern countries to Canada can be targeted because in their cultures they have different methods of living than Western cultures. Positioning: There are universities and colleges or institutes in Canada, which can be targeted for online BBA courses. 7 As I researched, there are six universities in Canada that offer online BBA courses. Capilano University, Walden University, Athabasca University, British Columbia Open University, University Canada West, and Royal Roads University are universities that offer online BBA courses. As I investigated, there are four colleges or institutes in Canada that propose online BBA courses. Devry Calgary, Management Institute of Canada, British Columbia Online College, and Ontario Institute of Technology are colleges that propose online BBA courses. Marketing Objectives First Year Registration Expectations Comprised mainly of lower mainland residents High Concentration of people who have full or part-time jobs High Concentration of students within the ages of 30-50 Concentration of people with restricted funds for traditional University Second Year Registration Expectations With success of program use new funds to expand to other target markets Expansion to Students that have graduated from high school Expansion to other regions of British Columbia High word of mouth advertising from satisfied students for lower mainland Third Year and Future Registration Expectations Expansion to target markets of all of Canada 8 STRATEGIC MARKETING PLAN Product Strategy Detailed description of product/service components Online BBA offer the flexibility and convenience of studying whenever and wherever you choose, making it easy to learn and work without conflicting with your busy schedule. Online BBA will allow you, as an online student, to experience an activity-based learning environment that is led and supported by an instructor. This approach embeds best practices in online BBA delivery and helps to contribute to online student success. The course outline for online courses is identical to the face-to-face delivery, while the content, activities, and assessments are of equal strictness to the traditional classroom delivery of the respective course. Online students are expected to participate in online collaborative activities in BBA that may include online group assignments, discussion boards, and emeetings. Branding The overall goal of the brand campaign is to increase the profile and reputation of Capilano University as a university that offers online BBA and to create a renewed sense of affinity, pride and connection to the university amongst the multiple customers we engage. The development of the Capilano University brand seeks to carve out a unique for Capilano University in an increasingly cluttered and competitive university marketplace. We are a local university over 7,500 students enrolled in credit programs during the fall of 2009: 40% are residents of the North Shore; 26% are residents of Vancouver and Burnaby; the remaining 34% come from the rest of the Lower Mainland, British Columbia, Canada and around the 9 world. However, our international student body is comparable to that of top national and international universities (international student body primarily from Asian markets). Pricing Strategy Pricing factors considered Canadian Students: $250 per course International Students: $550 per course Pricing objective The Price should be affordable but without sacrificing potential student opions on the quality of the degree. Special adjustments A First term discount offered to students that comply with a mandatory extensive review of the term. This will further give us information on possible changes that would be easier to solve sooner than later. Quarterly target revenue projections for the first 12 months We expect the first year of the program to bring in 250 students comprised of the following. 1st Term: 100 local students and 10 international students all taking 5 courses = $152,500 2nd Term: 150 local students and 15 international students all taking 5 courses = $228,750 10 Distribution (place) Strategy Channels We would like to hire marketing students from Capilano University and get them to distribute the advertisements accordingly. Specific location and rationale Newspapers/Magazines: High concentration of viewers that will have the time to read the information Television: Exciting media adds create high intrigue for potential student, as well as shows professionalism to the program Brochure/Posters: Distributed to local businesses, transportation sites, and community centers. With intense graphics and superb information we expect people to seek further information Internet: Social media sites as well as banners on educational websites will help guide our target market effectively Promotional Strategy Advertising The information about the new program needs to get place at newspapers, which is usually read by people over 25, local TV-stations, or also at social network sites as Facebook, where it can pop up only for people over 19 to 35 which is the age for main buyers. Personal Selling 11 Due to popularity of the online education, Capilano should have some advantages over them, like pricing, for example special discounts for the first year students, and if they are satisfied, they might advise those courses to their friends as well, which will lead to further consumers. Public Relations A person must be dedicated to get a BBA degree, and keen to learn. It's harder to study without teacher talking in front of you than being in a class, so it takes time and great motivation to decide to take online courses. Lifestyle is also important. You need to be a responsible person who can take his time and spend hours in front of computer instead of going out. Person's Personality influences a lot on decision to study in class, online, or not to study at all. Some people are very active and just can't handle sitting in class, they need to work at some place, hang out with friends, though they still want their education. Some people might be very shy and having hard times with large group of people. Online type of education would fit perfectly in their life without sacrificing any of their personality habits. Canadian society's morals and beliefs suggest that everyone who wants to be successful in their life should have a post-secondary education, but not everyone has a chance to get to the university right after they graduate from high school for various reasons, like having a full time job to pay rent and make savings, getting kids at early age, so for those people online education is a perfect opportunity to catch up with society's preferences and become a well educated person. Cultural Changes/Values where does our possible purchaser live, who hangs out with, what are his parents values are? The chances are that person who lives in a middle class neighborhood with friends who has or getting their post-secondary education, and grown up in family where at least one parent is educated, is more likely to get enrolled in this online BBA program. Sales Promotion 12 Marketing Mix consists of 4 P's, Product, Promotion, Price and Place. Place is actually your home, which is convenient and perfect for busy life of modern society. Price should be slightly less than other similar universities of the same area, like price of an actual in-class education in Capilano is less than for example SFU or UVIC. Promotion should take place at the top news on Capilano site, because maybe some of in-class students might find it more convenient, or advice it to their friends. Local newspapers and TV-commercials should work well as well. It's an actual person's belief and thoughts about this program, his own perspective if he needs or not that degree and some people do not take seriously online degrees, some people will appreciate to have their BBA degree no matter what way they got it. It also comes partially from family values as well. Purchase tasks, the reason for studying online to get your BBA degree at the first place is very important. An education is not a pair of shoes, it's something you will use through the rest of your life, make living off, and it will always be with you, so the decision where to study, and what to study is crucial. BBA degree is pretty popular, and ability to study from home makes this online degree program very attractive to purchasers. Social surroundings are also important. Are parents of a purchaser educated? Is he satisfied with his salary and working place without this BBA degree? Probably not, which is also advantage of this program. Antecedent States is also something worth mentioning. What has been occurring in our purchaser's life right before he's about to get enrolled in online education? He might just graduate from high school, and wants to have education with minimum time spending and flexible schedule. Or probably it's a mom just getting a baby, without ability to be out of house for a long time. Considering the vast variety of people who might be interested in this offer, Capilano should probably put brochures in such places as high schools, any small business firms, birth houses, etc. Direct response 13 Ask Capilano university students to promote this online degree within their friends or any people, and give away bonuses for each person they got involved in a program. (Such as discounts on books, giftcards etc.) That might be effective due to vast circle of friends of university students and good motivation to get involved. If the first year will be successful, the chances about further success are high, because people will spread out the convenience and effectiveness of the program. Budget Television: $25,000; ads running between the hours of 6 P.M to 9 P.M Internet:$10,000; ads displayed towards our target markets Newspaper:$5,000; ads in local newspapers Brochure/Poster:$10,000; ads posted in local businesses, community centers, and transportation sites Evaluation and Control Pre-Test Evaluation Using non-biased test subjects, we would like to give a comprehensive survey of each promotional advertisement. The questions that we would ask are listed as the following: Does it capture your attention quickly Is the information displayed in an effective manner Would you feel compelled to look for further information if it applied to you If not, what would you change to make it more compelling What similar products do you feel have a more intriguing advertisement 14 Post-Test Evaluation Using newly registered students in the program, we would like to also give a comprehensive survey to examine what attracted each student to seek further information on our product. The questions that we will ask are listed as following: Where did you hear about our program (with a list of all possible categories) What interested you the most about this advertisement How long did it take for you to seek further information on the program Is there anything you would change in the advertisement to appeal more to others 15