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The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customersin the targeted segment.There are four segments I've divided. These are - demographic factors, psychographic factors, geographic factors and behaviour factors.
I think it is eligible for students above 20 years old who finished bachelor degree and wants to attend for MBA. I think most of people above 20 years old will get their bachelor degree according to our education system. So, they get more knowledge and more sense . So that they can easily learn for MBA.
There are a lot of languages all over the world. Most of the country use English for common language. If a person wants to apply to our private university, he/she needs to have basic English skills because they need to sit for English enhance exam. We will use only English for teaching subjects to students. They also have to write in English. Whey they finished MBA, they will achieve MBA degree for UK university. Besides, as some of lecturers come from other countries, the students will not understand what the lecturers teach to them and don't know how to communicate with those if they don't have basic English skills.We will train the students to improve their English. There is also special English class for students who wants to learn advanced English and wants to improve their English more and more.
For income and socio-economic class,
Our university MBA fees are as bit higher than other government university because we will give them full facility and students will get international MBA degree. So, the student's parents or guardians must have high income. We can divide our Myanmar social class into three classes such as Upper Class, Middle Class and Lower Class. Upper class means people who have high income or good jobs. These people may be businessmen, celebrities or any other. Middle class means people who have intermediate income and lower class means people who have lowest income or are hand-to-mouth. In my opinion, students for the Upper Class and Middle Class can join to our university.
I will divide psychographic segment into three groups. These are:
-values :people belief, morale and principles
-hobbies and interests
Values ( People belief)
People have various feelings such as happiness,trust and beliefs. We need to have people's beliefs on our private university. Nowadays,most of the people don't believe easily on every things. We will prepare all things from all sides including teaching methods and good facilities for students of MBA to facilitate and to get public awareness of our MBA university. And then,the students can get more opportunities to learn international business knowledge in their own country like in other countries by attending our MBA university.In this way,we can get public awareness and also beliefs from student's parents.
Hobbies and interests
Today, most of the young people are very interested in business. If a person wants to do a business, he or she needs to communicate with different people from different countries.What's the key to communication with these people and successful business? It's the ability of having good English skills and international business knowledge.Our university can give both skills to students. Moreover, the student's parents are also interested in their children's education.They want their children to be educated person. If their children attend to our university, we can assurance that their children will become more educated person and get international degree. After they get the MBA degree from our university, they can go foreign countries they wish for further study.
Nowadays, our country has so many changes such as in economy and education.Most of the country want to invest in various fields in our country.So, our Myanmar people will gain high income and high economic class. To become high economic class, it needs more educated person. That's why, we try our best to produce more educated students from our university.
Various countries have various cultures. Most of Myanmar parents don't want to let their children to go to other country for further study and getting international degree. As a result, conflicts arise between parents and their children. But these conflicts will be overcomed by attending our university as the students can get internation degree given from UK in our private university.
I have planned to start Master Degree Programme in Yangon first because Yangon is the most popular city in our country and is also one of the strategic cities.The people for other region or other state can come to Yangon easily by bus or train or by airway. Yangon is the most population in Myanmar and is also a development city. Our private university is located on Tatkatho Yatethar Road.The place is very near with Kabar Aye Road and Pyay Road.It's also near with other universities.It's easy transportation to reach to our university for students. I also decide to set up M B A programme in there.
First market segment is Yagon and second segment is will open in Mandalay.
Our main target is people who are interested in MBA and are from Upper Class or Middle Class. It's also targeted to people who wants to get international degree in their own country needless to go to other countries.
How behaviour effect on marketing activities
"Behavioral segmentation divides a population based on their behavioral, the way the population respond to, use or know of a product." (Bhasin, H., 2011) Most of the people know our university through media such as MRTV-4, advertisements. Then, they come to our university and enquiry about the detailed information of our university.
Influences on buying behaviour
Positioning is the act of designing our university's offer and image. Our university's priority is customers' needs and wants.Our university fees is high price and so,we serve the customers with high quality.So, our university position is in high rank between high price and high quality.Last time, our bachelor degree programme is in high percentage in the education market.I hope our master degree programme will also succeed like that in market.
Customer Needs and Wants
Nowsadays, education is the first section for our country. Most of the students want to get not only bachelor degree but also master degree. If the students go to foreign countries to get international degree, the course fees is very high. To be convenient for those students, we try to give good teaching and facilities like in these countries. In this way, we can fulfill customer needs and wants.
In these days, there are more and more private universities in our country. The students have choices to attend for their study. So, all of the universities are trying to get public awareness and customer satisfaction. Our university is also included in it. We try our best to get customer satisfaction by means of providing high education standards and high facilities.
Evoluttion of alternative
Modifying the brand is called real repositioning.(Kottler, )
I always look up on our private university what we have to change anything or not. Another way, we get feedback from the students about our weakness, We will modify our private private university depends on students' feedback.
After modified our private university,it will be better than other universities. The customers also believe more on our university. So, our university upgrade year by year. The customers will also think our university is the best in their minds. The customers become more pessimistic with respect to our university. It's called psychological repositioning.
There is more competition between each other in the education market. As we do to be better and better, our competitors try more and more. The competitors will think we are the best rival in the education market. It's called competitive repositioning. (apply theory)
Language and symbols
Language and symbols are very important in advertising. We will advertise our university in both Myanmar and English language clearly. We will also advertise it on our own website in English language so that people from all countries will notice our university. When we advertise it, we will choose significant words and symbols which will reach to our customers' mind.
Every customer will have common sense in their education market.Common sense means they want to know which one is better than the others. Most of the parents might worry about our university fees because it will be more risky for them. But, we will serve good teaching methods and we will hire educated and qualified lecturers and also provide full facilities. We try to have less risks for students.
Learning is an individual behaviour arising from experience. For the students' side, they will get more knowledge and more self-confidence when they are learning about MBA.We also try to upgrade our university year by year.
For MBA, we will join to edxcel from UK. Edxcel is one of the leading exam and awarding bodies in UK and throughout the world. Edxcel is recognized by over 200 universities worldwide. Edxcel offers international recognized qualification, our MBA is awarded from UK.
Our universtiy fees will cost about 80 lakhs. Our price strategy is Premium brand. Because our university is high price and high quality. If people think the fee is a bit expensive, they can install the fees in 3 times.
We will advertise it on MRTV-4, Channel 7. These channels are very popular in Myanmar. We will also advertise it on billboards as well as in education magazines. We will often hold seminar and workshops so that we can share information about our MBA to students.
Before I open, I think first our university fees and how to pay it. The fees is a little bit expensive for students. So, I decide that parents can install it in three times. We rent external lecturers from other countries and also more-experienced lecturers from local. We will provide full facilities for students such as Wi Fi, canteen,library and multimedia classroom. Our teaching methods are based on western teaching style. This process is I will make for MBA.
Our MBA will choose the staff depending on their educational level and experience.So, they will know how to communicate with various customers. We will often do workshops for staff so that they will upgrade themselves. They can help to deal with students' difficulties.
All the classrooms and also the canteen must be clean everytime. We will check it everyday. When the customers will come to our private university, they can have fresh air and pleasant environment. So, their minds will become fresh and it can support them in learning. It can also make customers believe that our university is full of physical evidence.
We will operate the University on Thatkatoe Yate Tar road because the place very near with Kabaraye road and Pyay road. There was very near with other university. The students can easily come to our university. Transportation is very easy for students.
Marketing mix for private university
Marketing strategy for first segment is Yagon.
We have planned to operate MBA in Mandalay .For Yangon, it is for the students of lower Myanmar region. It's good for students because they will get good knowledge, good experience and good master degree from UK. The price of our university fees is quite expensive but it is okey for people who have high income or high class. We will advertise it on digital billboards in crowded area. We will also advertise it on TV.
Marketing Stratergy for second segment is Mandalay
For Mandalay, the students from upper Myanmar and central Myanmar can study about MBA. So, they don't need to go to Yangon, The master degree will also be offered from Edxcel.So, they can get master degree of UK. Our private university fees is same as in Yangon. We will often hold seminar for Mandalay customers because they don't know much about western education system. We will introduce our university to students. It's the way of advertising. In this two markets, the main difference is Education knowledge. Yagonn people are more knowledge than Madaly people . We also have market percentage have in Yangon. But in Mandalay, we have no market. So that we are more try in Mandalay. We also try to open for PHD in our university next a few years.
Differences in marketing service to business and customer
B2B vs B2C
Business to customer a transaction that occurs between a company and a consumer, as opposed to a transaction between companies (called B2B). The term may also describe a company that provides or services for coustumer.
In our country, Most of private university is use b to b because they join to other country education company. But there is no private university direct come to open from other country because they have many ricks and many difficult, such as language and culture.
We will join to educational agencies and advertising companies. We will explain them about our MBA so that they can easily explain customers. But, one of the weaknesses is that the customers don't know exactly about our university. Another weakness is that we can't contact with customers directly so that the customers might misunderstand about our university. Therefore, we will hold seminars and workshops frequently. In this way, we can contact with the customers directly and explain about our university to the customers in details.
International Marketing differs from Domestic Marketing
SWOT of Myanmar market and UK market
The origin of our MBA is from UK. If the students want to study in UK, the university fees is very expensive. They can face many difficulties. Language is the main difficulty for students. If the student have good English skills, it's convenient for him to study in UK. But their job is very safe. If the student study in local, he doesn't need to go to other country. Our MBA fees is cheaper than UK. Most of the lecturers are from local so that the students can understand more. But, our lecturers is less experienced than UK lecturers in international style.
So that I will try the best for MBA and I will fill up the customer needs and wants. Most of the students want to attend to our university.