Online Marketing Strategy - Promotin Lecture Notes

Online Marketing Strategy Promoting University of Phoenix Website marketing Strategy The University of Phoenix opened in 1976. In addition to traditional classes, the College or university of Phoenix, arizona was as well one of the first licensed schools to supply complete level programs online. Its web based campus provides an online mature education course regionally licensed college education using the mature learning style. This newspapers will present a review of the university’s marketing strategy like the target market plus the four P’s of marketing. These are generally product, place, price, and promotion. Marketplace The College or university of Phoenix, arizona online trains its undergrad program toward working specialists. Many of these operating adults want to obtain higher levels of education to provide upwards mobility. To apply for admission, an individual must have a higher school degree (or the equivalent) and be employed or have access to a corporate environment that will allow the application of program concepts. Additionally to having an undergraduate degree, graduate students must also be employed or have access to a suitable business environment. The University or college of Phoenix, az online also makes a particular effort to attract military and international college students. The university’s customer base is made up largely of students that require the flexibility of online course due to their life style (University of Phoenix, 2006). Product The University of Phoenix over the internet is “the leading approved university supplying online training in the United States. ” (University of Phoenix, 2006) It is the major accredited school in America, and also 171, 1000 students contain graduated in the school. The university is certainly regionally approved through the North Central Bureau of colleges. Courses offered are attracting working adults due to their versatility and simplicity of access. Nevertheless , the brand has also been well established and it is highly regarded. The University of Phoenix maintains a full staff of academic, monetary, and specialised advisors for making it relatively easy for students to gain access to their applications. The benefits of an education obtained from the University of Phoenix on the net include: ?Flexible class activities ?100% of education and administrative requirements are done on the net ?A degree may be completed in 2-3 years ?Classes operate individually allowing students to concentrate ?Online program is constantly up to date ?Instructors include master’s/doctorate and therefore are employed in their particular associated areas ?Work in a learning group environment ?Students can quickly apply lessons to their work environment ?Credit designed for professional teaching and before education (University of Phoenix, az, 2006) Place Any pupil may get access to the University or college of Phoenix, az online in spite of their physical location. The sole requirements undoubtedly are a computer, cellphone, and a web service provider. Additionally , the School of Phoenix az maintains a total staff of technical support employees who guarantee computer problems are solved rapidly and effectively. Seeing that all training course materials will be posted on the net students may review lessons and projects at times near them. In addition , they may likewise interact easier with other college students despite separations covering a large number of miles and time zones. Classes typically last five to six weeks, and booking is versatile to accommodate fails as necessary. These elements add up to an item that is accessible to students irrespective of individual lifestyles, time, and distance (University of Phoenix az, 2006). Price tag The School of Phoenix az online offers competitively priced education (See Table 1) that may also be discounted by financial aid, financing, employers, and scholarships. The University of Phoenix online compares states that its tuition costs less than half of an estimated $20, 000 per year charged by private colleges. Students may also reap the benefits of the online program sooner than their counterparts in a traditional college environment. In addition , since tuition payments may be made per school, students can be better able to deal with their cashflow. In addition to cash obligations by learners, many employers offer full or partial tuition to their employees. The University of Phoenix also participates in several federal financial aid programs including the Stafford Student Loan, the PLUS Loan, and the Pell Grant. Recognizing the need for student flexibility, the university also offers a generous refund policy that returns 100% of a student’s tuition if they cancel a class prior to the first day. Finally, the university maintains a full staff of financial and special purpose (e. g.: military service) advisors to ensure students make the most of these benefits (University of Phoenix, 2006). Table1. University of Phoenix Online Group Study Rates (University of Phoenix, 2006) Promotion The University of Phoenix online uses the majority of current advertising media to add television, art print, and the net. The internet can be described as particularly priceless resource, given the program’s technology requirements and educational environment. The Apollo Group, parent organization of University of Phoenix online, spent $15. 6 million for advertising expenses in 2005 (Apollo Group, 2006). In addition to these mainstays of advertising, the university also relies on word of mouth advertising and has formalized this concept in its student referral program. This program provides a $100 incentive, in the form of a pre-paid MasterCard, to current students that refer new students and meet specific criteria (University of Phoenix, 2006). Other, non-traditional advertising efforts include the University of Phoenix’s recent acquisition of naming rights intended for the Arizona Cardinals football stadium. The new University of Phoenix Stadium is part of a new branding campaign to achieve prestige with respect to the college or university and enhance its visibility with consumers (Gilbertson, 2006). Taken as a whole, the university’s promotion efforts are very comprehensive. Personal Experiences As a military member, the University of Phoenix online format appealed to me due to its flexibility and portability. The brand is has been well established and I trust the product. I also appreciate the relative velocity with which I can complete the program, since I will be retiring in the next two to three years. Since I’m stationed overseas, the online access helps me overcome the tyranny of distance and different time zones. However , the most significant element is that military tuition assistance and the GI Bill cover the majority of my tuition. Finally, I found the university’s promotional efforts very effective, since a counselor’s visit to the base education center led to my application.