CBMA-031 - What is Marketing - The Changing Role of Marketing - Marketing Assignment Help

Assignment Task

QUESTION 1

INTRODUCTION Marketing has long been seen as an essential component of the activities of private organizations that deal in the selling of goods. Marketing theory and practice have evolved throughout time to apply to the many contexts of selling services, and subsequently to the non-profit sector and education. Marketing a higher education institution is both simple and difficult at the same time. Part of the reason for this is that company performance is basically judged in terms of sales and profits. Higher education institutions, on the other hand, exist primarily to provide students (customers) with a one-of-a-kind education and a delightful campus experience. Universities fight not only for students and faculty, but also for financing. This implies that they must be seen and heard by the appropriate audiences (students, staff and government). The need to market their (brand) image and establish a unique difference showcases their strength and gives students a reason to choose an institution.

1.1 WHAT IS MARKETING? Shoemaker (1999) claims that marketing involves proactive management, by use of commercial instruments: the service product, site, pricing, promotions, processes, people and physical proof, of the connection between a higher education institute and its numerous – markets. In order to sell this product or service, it is a method of expressing the value of a product or service to prospective clients. It requires control, prediction and fulfillment of product or service demands and the publication of the capacity of a corporation to do so for its target audience. Any company's marketing department is crucial. Prospective clients will be unaware of a company's products or services without marketing, and the company will be unable to generate revenue. Marketing is an essential activity that lies at the heart of any organization since there is no business without it.

1.2 THE CHANGING ROLE OF MARKETING Marketing plays a vital part in every organization and is seen by customer groups to be identified, to know what they need and what the company can give, to match with what customers desire, and to communicate effectively and sell it to the consumer. Although marketing aims primarily to meet clients' demands, it covers a range of activities, including product/service creation, design, development, distribution, promotion, and the customer's procurement and usage of a product/service. CITATION Mac021 \l 7177 (Machado & Cassim, 2002)Consider marketing as the design and implementation process for ideas, products and services that meet organizational goals. CITATION Mac02 \l 7177 (Machado & Cassim, 2002) See marketing as an exchange process. According CITATION Mow95 \l 7177 (Mowen, 1995)relevance of understanding consumer behavior can be found in the definition of marketing as a human activity aimed at satisfying needs and desires through a human exchange process. A higher education institution must identify its target consumers, understand them, and engage with them as directly and interactively as possible in order to be effective in marketing. The bigger contribution of marketing is its capacity to assist the exchange process that occurs between the non-profit organization, such as the higher education school, and each of the client groups it serves, CITATION Sar05 \l 7177 (Sargeant, 2005)Marketing may help institutions understand their consumers' demands and guarantee that they are met in the most effective and comprehensive way feasible. This awareness of client demands may help businesses create and maintain a competitive advantage. According to CITATION Lyn04 \l 7177 (Lynch & Baines, 2004), higher education institutions' long-term competitive advantages are typically based on better knowledge, reputation, innovation, or architectural benefits.

1.3 MARKETING IN FURTHER EDUCATION As previously said, marketing in education has been particularly active in the higher education sector, which has grown conscious of the necessity for marketing as a result of significant state subsidization and subsequent rethinking. State resource cuts as a result of declining student numbers have grown severe, creating a competitive environment for student clients. In certain situations, the decline in demand from the age range 18 to 22 has led in a variety of strategies to discover new market segments and broaden target markets to postgraduate and part-time sectors. This budget strain has recently been felt in the field of higher education and training.

1.4 WAYS OF MARKETING THAT MUST BE USED BY EDUCATIONAL INSTITUTIONS Social Networks: The usage of social media by university students is increasing. Schools that wish to attract potential students must improve their marketing efforts in the social sphere. They must increase their social media presence and devote more resources to this type of marketing.
Associations: When it comes to reaching out to prospective university students, collaborating with firms has several benefits. Higher education institutions must relate to brands that represent their own views, culture, and aims. On the contrary, the consequences of tarnishing their reputation or conveying the wrong message to students and parents are considerable.
Stories: A useful marketing strategy in higher education is well-told stories that demonstrate the experience lived during university days. A growing number of universities recognize that prospective students want to interact on a personal level and hear tales that inspire them. Telling stories of professors, administrators, ex-alumni, and current students humanizes an institution, increases the impact of the career, and increases emotions.

1.5 IMPORTANCE OF MARKET MANAGEMENT IN EDUCATIONAL INSTITUTIONS According to (Berry, 1980), marketing management has risen in importance as a result of increased rivalry and the need for sophisticated distribution strategies to reduce costs and increase profits. Marketing facilitates the transfer, exchange, and mobility of products. Marketing management is becoming the most important role in a commercial and business enterprise. A thorough assessment of all areas of the business, as well as the customer's experience at each point of the sales process, is required for effective marketing. With a marketing degree, you can work as a public relations professional, a marketing manager, or an account executive. Your job as a marketer is to assist companies in identifying and understanding their target clients, as well as developing various techniques for communicating the benefits and unique selling features of the company's products and services.
Marketing is more than a specialty inside a business degree program. It properly symbolizes a set of skills that can be applied to any profession. Marketing is an essential component of every company's operation as a professional sector. It looks on consumer perceptions and trips as potential profit opportunities. It also produces intelligent and insightful business judgments by merging many data sources. On a bigger scale, marketing skills transcend the business world and are used in several jobs. Even if they are not in a typical marketing job, everyone benefits from knowing the fundamental ideas that connect people, brands, and businesses.
CONCLUSIONHigher education institutions must analyze their competitors, understand their own strengths and limitations, and scan the higher education environment for trends and forces that may influence them and their consumers, the students, in order to comprehend the market. Following a market study, institutions must identify potential market segments and then select an appealing segment(s) to target. Institutions must decide the image or position they want their service items, brand, or institution to have in the minds of students.

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