Question

Topic: Strategy

New Market Development

Posted by Anonymous on 5/30/2010 at 12:01 PM ET 125 Points
assume that a IT educational institute is planning to enter in to new market by enrolling students from two neighboring countries. what are the major areas the company should concern when developing a marketing plan for this?
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RESPONSES

  • Posted by Jay Hamilton-Roth on 5/31/2010 at 8:45 AM Accepted
    Competition
    Pricing / Value
    Effort necessary to attract students
  • Posted by BizConsult on 6/2/2010 at 10:16 AM Accepted
    There are lots of considerations - start with answering the following questions:

    Who is your target audience - demographically, geographically, psychographically and behaviorally?

    How can you reach these potential students? What media do they use? / How do they use them? / When? / How engaged are they with different media channels? Where is your competition advertising? (don't just assume it's right) What media can you 'own'?

    What are your target market's educational needs and desires? How can you deliver on these? What unique points of difference can you lay claim to relative to other businesses in the same area?

    What is the relative value of a student? How much should you spend to attract and convert them? (ROI)

    Good luck.

    -Steve
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