SlideShare uma empresa Scribd logo
1 de 27
Baixar para ler offline
MRAKETING MANAGEMENT (MKT201)
    Group Assignment

    MARKETING PLAN FOR Inhome Tutors
    9/29/2011
    Hewlett-Packard




Prepared by:
Ismail Zabeeh: 023956
                                       Markers Name:
Assad Mohamed: 024260
                                       Nuzha Nizam
Mohamed Sameeh: 023958
Ahmed Simau: 017643
Table of Contents
EXECUTIVE SUMMARY ............................................................................................................ 3
Situational Analysis ........................................................................................................................ 4
       Ansoff „s matrix ...................................................................................................................... 4
       Porter‟s Five Forces ................................................................................................................ 4
   Industry Analysis ........................................................................................................................ 5
   PESTEL Analysis ....................................................................................................................... 6
   Competitive Analysis .................................................................................................................. 7
   Customer Analysis ...................................................................................................................... 7
   SWOT Analysis .......................................................................................................................... 9
Marketing Objectives .................................................................................................................... 10
Marketing Strategy........................................................................................................................ 10
Product Life Cycle ........................................................................................................................ 11
Potential Strategies........................................................................................................................ 12
   Positioning strategy................................................................................................................... 13
Marketing Programmes ................................................................................................................. 13
   Product ...................................................................................................................................... 13
   Price .......................................................................................................................................... 13
   Place (Distribution) ................................................................................................................... 13
   Promotion (Advertising) ........................................................................................................... 13
   People........................................................................................................................................ 14
   Physical Evidence ..................................................................................................................... 14
Implementation Plan ..................................................................................................................... 14
Performance Evaluation and Monitoring ...................................................................................... 14
Financial Information.................................................................................................................... 16
Contingency Plans ........................................................................................................................ 17
Appendix-1 ................................................................................................................................... 18
Appendix-2 ................................................................................................................................... 19
Appendix-3 ................................................................................................................................... 24
Minutes of the work ...................................................................................................................... 24
   References ................................................................................................................................. 27




INHOME TUTORS- Marketing Plan                                                                                                             2
EXECUTIVE SUMMARY
Demand for tuition has been drastically increasing from the start of last decade. Parents feel to
give tuition for their children at home is much safer. The fact is demand for tuition centers has a
declining trend due to favorable trend on demand for private individual tutors. The golden
opportunity has attracted many college students and school leavers as a mean to earn income. So
here we are thinking that there is a profitable business (market gap) which is serving as a
middleman to bring the students and tutors in a professional manner.

For the opportunity, we have designed a product (Inhome Tutors) which will fulfill the needs of
students and their parents which will be served and all marketing activities will be implemented
in capital city of Maldives (Male‟). Inhome Tutors will play a middleman role in this service.
Our service will offer the advantage of knowing performance or progress of the students, and
they can change their tutor if they want. We are also eligible and trustworthy as we are registered
organization. We have planned to increase tangibility by having a website and customer care
office.

Our Marketing programmes comprises, participating in educational exhibitions, TV advertising,
billboards near schools, and brochures. We have to start these marketing activities immediately
after its launch in order to make awareness among the people. This plan will be implemented in
the year 2012 and we expect the results of these marketing programmes in first quarter.

As there is a robust demand in the industry, we are anticipating very high return. We expect to
achieve revenue of MRF 1500,000 within one year after commencing the business; that is in
2012.




INHOME TUTORS- Marketing Plan                                                              3
Situational Analysis
Inhome Tutors is a new product to education industry which is planned to be launched in January
2012. We provide tuition services in the comfort of our customers‟ home. Our service is not just
only an ordinary tutor service; we also have a website especially for our customers where they
can check their progress that they have achieved desired results over time. www.Inhome-
tutors.com has a feature that allows seeing the profiles of tutors who are available and useful
resources for students. By the way the website is helpful for parents too. Our market area is
capital city of Maldives (Male‟ City). The target market is high income parents who need tuition
for their children at home. We have four main packages created according to the affordability of
our potential customers. Those who need tuition at low cost can have a group of students which
can spread the burden on each parent.

Ansoff ‘s matrix
Inhome tutors is a new innovative product which is to be introduced in an existing market.
Thereby our product falls under product development stage in Ansoff‟s matrix as we are
focusing our product to the students who take private tuition. We have to promote this service to
these potential customers. In this situation we have low moderate risk as our product is new to
this market. Product development is being used since there is a growing market for Home
Tuition.

Porter’s Five Forces
There are large number of new entrants and substitutes in the market due to less legal
requirements and low investments. As there are many substitutes, bargaining power of buyers are
very high. And bargaining power of suppliers (tutors) is very high. To overcome from these
threats we must keep differentiating our products based on market research. We can also conduct
continuous service audit to increase customer value and minimize the competitions from new
entrants.




INHOME TUTORS- Marketing Plan                                                            4
Industry Analysis
Tuition industry in male‟ is more of an Oligopolistic competition where there are few dominants
that have comparatively equal prices and market share. Market size is about 7300 students
according to ministry of education‟s statistics. We have conducted a market research where we
used a random sample of 250students studying in grade 8, 9, 10 in different schools. From those
250 students 136 students responded which is 54.4% of the sample. Research shows that 74%
students take tuition that and 26% says they do not take tuition. From this our target market will
be those who want home tutoring service.

There are few new entrants in to the market like SciCom Tuition Centre and Kiyeveni. And there
are very sound failures in the history of this industry. One of them is failure of Kinara Tuition
Centre which is probably the first tuition centre. After about two decades of existing in the
market they turn to be a failure because they could not meet or adapt the changes in customer
requirements. Another significant failure is Review Tuition Centre who failed since they failed to
manage tutors.

It is very important to have a PESTEL analysis in order to have an in-depth industry analysis.




INHOME TUTORS- Marketing Plan                                                             5
PESTEL Analysis
There is a law stating that every Maldivian student has right or must get there textbooks and
stationeries for free. “Primary and secondary education shall be freely provided by the state. It is
imperative on parents and the state to provide children with primary and secondary education”.
(Chapter-2 fundamental rights and freedom, article 36, subsection B). Due to this; parents can
save their expenditure to buy those stuffs which will lead to spend more on other educational
purposes. This is because parents will feel that they should spend more on their children‟s
education.

There is a Black market in this industry. Those expatriates are actually not allowed by
government to provide tuition services. But government cannot regulate this rules and
regulations as it is very difficult to regulate. We can force government on this issue and we can
make public aware on this issue.

We expect inflation will increase as in Maldives the main cause for inflation is imported inflation
and world prices are increasing day by day. Although there is an expectation of increasing
inflation rate in the economy, we believe that it will be controlled since government has
promised to do so.

In Male‟ there is increasing trend of bullying on the street, rape cases, and other crimes. Since
our target market falls on teenage group who might choose a wrong path easily; their parents are
hesitant to let their children out of sight for any purpose. Most parents are very concern about the
education of their children, so that they spend a lot on education eventhough their disposable
income decreases. They are spending large percentage of their income on children‟s education
especially for tuition.

Since the country‟s administrative services is being started to decentralize, people started moving
back to their islands. However, still some people are migrating to Male‟ to get the better services
which may not be available in island. And some families do send their children for education
purpose. Normally capital cities are high congested when we look on other parts of the world.

Now a days, Maldivian are getting aware and familiar with internet and its better uses. As our
service is a pure service, we planned to create a website to show our tangibility. In our website,

INHOME TUTORS- Marketing Plan                                                               6
students can check their academic progress by participating exams. That means basically we are
available on 24hours through our website. For this we can provide possible question which may
appear in the exams, additional readings which can help students to be well aware about the
topics they cover in tuition class and schools and readings for parents too. Other services we can
include consist of helping and advising students about exam stress relief.

Competitive Analysis
There is a kind of oligopolistic competition in the industry since there are few registered
organizations providing tuition service. We have different group of competitors who are those
individual tutors serving in the market who has a great influence. Competitions from tuition
centres are more likely to be indirect competition and competitions from individual tutors who
are giving home tuition are direct competitors who have high influence on our business. There
are new entrants in market like Kiyeveni Tuition Centre and other individual mobile tutors.
There are an increased number of tutors who give home tutoring service. However we believe
that we will have a strong position in the market as we are registered organization when
compared to individual tutors who might be difficult to market their service individually.

It is very important to highlight that we cannot get into price competition as we cannot provide
the service at a lower price. Only the way we can compete in the market is providing quality
service and differentiating our products from competitors. In short, the potential source of
competitive advantage for us is unique features in our product. And the perception we can build
among the people.

Customer Analysis
We have two segmentation dimensions which are demographic and geographic. This is because;
we are only serving this service for students who are in grade 8, 9 and 10 who lives Male. Our
target market for the service is those who are in need of home tuition in Male.

With limited resources Inhome Tutors plans to target O‟Level students who are in grade 8, 9, 10
and students who wants to have extra help to re-sit O‟Level exam. According to a survey
conducted by us, 75 percent of those parents who hire a tutor to their child have monthly




INHOME TUTORS- Marketing Plan                                                                7
household income above MRF 20,000. We have created packages according to customer
requirements at affordable rate.

SP1 (Student Package) is most premium package which is created for high income earners who
want give tuition for their child without having peers with their child. However we anticipated
that we will get a less revenue from this package compared to other packages. This is because
charging very high tuition fee from individual student may attract few customers and also
because we have to offer a better salary for the tutors for this package. We believe that if highly
focus on this group, we can make out better results from the students who prefer SP1. And our
image will brighten up and it will create positive perception towards us.

According to survey we have conducted, we understood that majority of the customers will
demand for SP3 and SP4 as they will have a group of students who share the total fee among
them. In our research, 26% of the students who go for tuition said they have a private tutor and
46% said they take tuition as groups.

We expected that there might be changes in target customer needs, buying behavior, perceptions
and attitudes. We assume that customers are in need of a professional organization which
provides tutor service to their door step. This is because, in many cases they find strange tutors
and paying in advance for them is very difficult since there has been known cases of tutors
faking around. There are no way students and parents can know how well are their children
performing and what kind of progress they are achieving. So customers need to have a way to
measure this and let them know on which area they are performing good and bad. That means we
expect the customers‟ perception will change towards us, as better and trustworthy organization
and feel like avoiding the normal unregistered tutors.

If there is a registered organization providing tutor service, customers will tend to trust them and
so demand for such organizations will increase. Due to increase in demand new registered
mobile tutors will enter into the market and also existing registered tuition centres might also
bring up a service targeting these customers. So competition in the market will be high in future.

As this is a new service to Maldivian economy, at first we cannot start serving to all the
segments in the market. That is why we are targeting students who are in grade8, 9, and 10 to


INHOME TUTORS- Marketing Plan                                                               8
know whether we can get enough tutors. However we are considering targeting new segments in
the future like A Level, middle school, primary and disabled children.




SWOT Analysis
                                                          WEAKNESSES
        STRENGTHS
                                                          -difficult to recruit tutors
        -Trustworthy
                                                          -high direct costs(tutors‟ salary)
        -Product differentiations
                                                          -high price
        -Have industry experience owner
                                                          -inexperienced tutors
        -innovation
                                                          -poor flexibility to market conditions
        -very good perceptions
                                                          -may not be able to cope with current demand
        -earn     additional   income     by    placing
                                                          -less brand awareness
        advertisements in our website
                                                          -lack of communication




                                                          THREATS
        OPPORTUNITIES
                                                          -high formalities
        -expatriates are prohibited to provide tuition
                                                          -high price competition from individual mobile
        service
                                                          tutors and tuition centres
        -have many segments that we can serve
                                                          - new tax system
        -growing markets
                                                          -new competitor
        -changing customer tastes
                                                          -declining population
        -increasing demand
                                                          -new regulations




INHOME TUTORS- Marketing Plan                                                                      9
Marketing Objectives
The overall goal of Inhome Tutors‟ marketing program is to create enhanced public awareness
through comprehensive advertisements that will result in increased demand. Inhome Tutors will
have 50 tutors who are from different colleges and high schools. Inhome Tutors have following
objectives:

      Achieve MRF 1,500, 000 revenue in 2012 (first year)
      Get 115 clients in 2012(first year)
      Increase revenue by 15% per year from 2012 for next two years
      Achieve a high level of customer satisfaction among 95% of customers
      Increase demand for SP3 and SP4 thus positively impacting revenues on an annual basis;
       increase sale of these packages by 15 percent.
      Increase retention of customers throughout the year thus positively impacting revenues;
       increase length of retention from 6months to 10months.
      Reduce marketing costs by 25% in year-2.




Marketing Strategy
Inhome Tutors has successfully identified and going to implement a creative marketing theme
entitled “Tuition in the comfort of your home!” our marketing message is selected to appeal to
the array of key target markets. The message resonates with consumers who have an interest to
get tuition in their home with fewer or no peers. Our logo shows a flying book which shows that
we can provide tuition any home in the capital city of Maldives. Our Ads will show how the
service works and it will be informative.

Haveeru classifieds do have high chances for our advertisement to reach our customers as most
of mobile tutors advertise their number there, stating the subjects they offer tuition. So we can
put half page Ad next to Haveeru Classifieds or bottom banner or content left banner so
customers usually get a perfect glimpse when searching for mobile tutor. Television Ads are also
a great way to attract the target market. Therefore chance of reaching our target audience is high



INHOME TUTORS- Marketing Plan                                                             10
if we advertise our services in Haveeru Daily and MNBC One. However a large advertising
campaign is very expensive

Our market segmentation strategy is geographic (Male‟) and demographic segmentation. Main
market segments include A level students, O‟Level students, Primary school students, Middle
school students and disabled children From these market segmentation strategies, our targeting
strategy is O‟Level students as we want to test market before introducing the service for other
segments. However our marketing strategy is target marketing. Our target market is those who
are in grade 8, 9, and 10. Profile of our target market is as follows:

      Age: between 12 and 18
      Gender: Male and Female
      Social Class:
      Consumptions and use patterns
           o They need tuition throughout academic year
           o They want to take tuition at home with few fellow students
           o Parents spend on tuition fees for their children
      Marketing and brand dimensions
           o They prefer the brand and they will also consider product attributes like price,
               quality etc.
      Nature of our relationship with customers
           o Face-to-face, telephone, website or internet
           o We will ask for feedback end of each and every month
           o Customers can communicate with us 15 hours a day


Product Life Cycle
As our product is a new product it is in pioneering stage in product life cycle stage. Hence our
advertisements are based to make awareness about the product and changing the attitude and
perception of potential customers.




INHOME TUTORS- Marketing Plan                                                           11
Potential Strategies
According to Porter‟s Generic Strategy, differentiation and differentiation focus are potential
strategies for Inhome Tutors‟ strategy formulation. In differentiation strategy we can differentiate
our product by using price, quality, features, customer services etc. We also can go for niche
marketing strategy in which we can focus on a very distinct and small market segment in which
all the marketing mix will be tailored on this segment. Advantages and disadvantages for us of
selecting these two potential strategies are as follows:

Strategy 1: Differentiation Strategy

Advantages: The major benefit we will get if we implement differentiation strategy is that we
can concentrate on achieving superior in an important customer benefit area valued by large part
of the market. Our services are quality leadership and we should match tutors with students
expertly, inspect them carefully and we also should communicate our quality.

Disadvantages: We cannot focus on more narrow market segments if we are having
differentiation strategy.

Strategy 2: Niche Marketing Strategy

Advantages: We can have differentiation within the narrow target segment.

Disadvantages: Our product is created for a huge target segment, so niche marketing may loss
market share for our product.

We have selected differentiation strategy after evaluating the two potential strategies. So core
strategy for our product is differentiation strategy to achieve marketing objectives which has
discussed in this plan.




INHOME TUTORS- Marketing Plan                                                               12
Positioning strategy
Our positioning strategy is focused on both parents and tutors as parents have high influence to
buy our product. We will position our brand “Inhome Tutors” in the mind of consumers as a high
quality, convenient, trustworthy product. We also will use strong benefits offered by our product.
In short, we will position in consumers‟ mind as a unique helpful product to meet their tuition
needs. So branding is necessary tool to differentiate our service from direct competitors who
does not have any brand for their service to differentiate.


Marketing Programmes
Marketing programmes for Inhome Tutors is based on 7Ps in marketing mix. This is very
important as we are a service provider.

Product
Superior features of our product consist of checking students‟ progress before school exam,
match students and tutors depending on personality and need of students as this will have high
influence to on the results.

Price
We will use cost plus pricing as we have high variable cost (tutors‟ salary). We have created
different packages and our customers can select according to their requirements.

Place (Distribution)
Our target market is in Male‟ and we provide tuition service by sending tutors to students‟ home.
Other distribution we use to deliver our products to customers using a website. We can use
website statistics to arrange future marketing programmes as well.

Promotion (Advertising)
Expenditure on advertising will have high influence on marketing programmes. We have
budgeted marketing budget for our service to promote. We will reach our target audience
through TV Ads, billboards near schools, brochures and internet (facebook).




INHOME TUTORS- Marketing Plan                                                             13
People
As this is a highly personnel service, we should ensure that our tutors have right training process
before hand. We should carry some marketing activities in order to attract tutors towards our
organization. There will not be any customers for us if we do not have tutors to deliver our
service.

Physical Evidence
Inhome Tutors is likely to be a pure service and it is more intangible. We have to create some
tangibility to our product. We have done this by renting out small office premise, appearance of
tutors (they wear our business card when visiting to customers), and website.


Implementation Plan
The following milestones identify the key marketing programmes. It is vital to accomplish each
activity on time and fit within the budget.




 Master Schedule
 Milestones                               start-date     end-date          Budget     Department
 Marketing plan completion                1/7/2011       29/09/2011        25000      Marketing dept
 billboards installation & brochures      1/12/2011      10/12/2011        25000      Marketing dept
 website completion                       1/12/2011      30/12/2011        20000      IT department
 Advertising campaign #1                  1/13/2011      30/12/2011        20000      Marketing dept
 Promotional Ad campaign                  1/1/2012       15/02/2012        15000      Marketing dept
 Recruitment Process                      1/1/2012       7/8/2012          5000       HR dept
 Total expenditure                                                         110000


Performance Evaluation and Monitoring
There will be quarterly marketing plan review meetings. A summary of costs against budget and
actual progress against schedule will be prepared in these meetings. A report on the
implementation of the action plans will be presented at these meetings. This plan is to be revised
every 12 months. And also we will have an eye on the tutors we are dealing with, because they
are the most important asset that makes us who we are. To do this a performance appraisal form

INHOME TUTORS- Marketing Plan                                                              14
will be filled by the teacher, his/her students and we will compare it with others teachers and to
previous months.

Inhome Tutors will review its objectives once a year to evaluate the achievement of the goals. In
addition, Inhome Tutors keep detailed record of the customer‟s information so it is easier to
handle other operations. We will monitor our Web site hits and the amount of time people spend
on the site. The figures are compared on a monthly basis, quarterly basis as well as a yearly
basis. In year two on a comparative monthly basis we will look at what happened the year
before; how did we market our product the year as opposed to last year; what special events
occurred to stimulate an increase (or decrease), and if the advertising might have been an
influence. When numbers go up, either on a month-to-month basis or quarterly basis or on a
yearly basis, Inhome Tutors cautiously feel marketing efforts have been successful. WE hope to
have an increase of 15 percent per year in all revenues and 90 percent students retain in Inhome
Tutors‟ figures will consider as a success and will call our efforts a profitable success.




INHOME TUTORS- Marketing Plan                                                                15
Financial Information
We are anticipating a favorable return in the future. So we expect that Inhome Tutors will grow
15% of its sales in 2013 and 2014.

 sales forecast for three years
                                     2011         2012             2013              2014
                                     MRF          MRF              MRF               MRF
 Sales Revenue                       0            1579050          1815908           2088294
 Direct costs                        0            932760           1072674           1233575




 Market Research                     25000
 Billboards                          25000
 TV ads                              30000
 bus registration                    5000
 total indirect costs                85000        388200           427020            469722
 op profit                           -85000       258090           316213.5          384996.5

 sales growth rate                                                 15                15
 profit growth rate                                                22.52             21.75



We can achieve break-even at point of 36 customers. (It is explained in the appendix-1)

Major assumptions

    1. We will manage have 115 sessions per day before the end of 2012
    2. Television advertisement costs will increase in 2013
    3. We do not have to spend on billboards




INHOME TUTORS- Marketing Plan                                                             16
Contingency Plans
If demand for our product is low, we can change our pricing structure. And if tutors are not
willing to work in our organization, we can change remuneration structure. For instance if we did
not get enough students registered in the promotional registration campaign or we did get lots of
negative comments about price we will follow the following contingency pricing strategy by
saying that it‟s a promotion.



                                    Contingency pricing plan
                                                               Tutors
                       packages        total fee    per head   salary
                       std-4           2200         550        1560
                       std-3           1800         600        1440
                       std-2           1600         800        1320
                       std-1           1500         1500       1200
                       customized
                                                    negotiable negotiable
                       pack            negotiable




INHOME TUTORS- Marketing Plan                                                            17
Appendix-1
Break-even Analysis

The break-even analysis indicates that MRF 35864 is required in monthly sales revenue to reach
the break-even point

Monthly units break-even= 36 customers
Monthly sales Break-even= 35864


Assumptions that we made

Average unit revenue MRF = 2157

Average per unit variable cost MRF= 1274

Estimated monthly fixed cost MRF = 32500




Average per unit revenue =


1579050 = total revenue per year =


131588= average revenue per month = 2157

732= total unit per year

61= average per month


Average per Unit variable Cost=


                                     =


                                     =1274



INHOME TUTORS- Marketing Plan                                                         18
Appendix-2
Here are graphical data which was drawn out of survey form results. Here, we are going to
analyze the outcomes from the survey questionnaires through bar graphs, pie charts and
doughnut charts.

Figure-1


                      Number of studdents take tuition
  120
  100
   80
   60                                                                                           yes
   40                                                                                           no
   20
    0
                          yes                                        no
                                                                                     Figure 1


From the survey form results, Figure 1 shows, out of 136 students (100%), 101 students (74%)
are taking tuition and the rest 35 students (26%) are not taking tuition. Thus from this pie chart it
is clearly known that the majority of the students are taking tuition.




Figure-2


              TYPE OF TUTION TAKEN BY THE NUMBER OF
                            STUDENTS
                                  individual    group    tuition centre



                                               28% 26%

                                                  46%

                                                                                        Figure 2



INHOME TUTORS- Marketing Plan                                                                19
Figure 2 shows the type of tuition taken by the students and the number of students who are
taking a particular tuition. The types of tuition basically divide into three. They are individual (at
home) tuition, group tuition and tuition centre. From the above pie chart it is clearly shown that
54 students (46%) are taking tuition in groups, 33 students (28%) are taking tuition in tuition
centre and 30 students (26%) are taking individual tuition at their homes.




Figure-3


                               PREFFERED NUMBER OF STUDENTS IN TUTION
                                             GROUPS
     NUMBER OF STUDENTS




                          40


                          20


                          0
                                 two     three       four       five         six


                                       AMOUNT OF STUDENTS IN GROUPS


Figure 3 shows the preferred number of students in tuition groups. 34 students want to take
tuition in group which is based on four students, 32 students want to take tuition in group which
is based on three students, 17 students want to take tuition individually without forming groups,
13 students want to take tuition in group which is based on six students and only 5 students want
to take tuition in group which is based on five students.




INHOME TUTORS- Marketing Plan                                                                 20
Figure-4


                                  STUDENTS ENROLLED IN DIFFERENT SUBJECTS
                                 70
           NUMBER OF STUDENTS




                                 60
                                 50
                                 40
                                 30
                                 20
                                 10
                                  0




                                                               SUBJECTS

Figure 4 shows the amount of students who has enrolled in different subjects in tuition. The
name of the subjects and the number of students enrolled in those subjects are clearly labeled in
the figure above.




Figure-5


                            FACTORS CONSIDERING BEFORE TAKING TUTION

                                          Other                                       Tution Fee
                                         Quality                                      Time
 FACTORS




                                School Teacher                                        Distance
                                      Experience                                      Experience
                                        Distance                                      School Teacher
                                           Time
                                                                                      Quality
                                      Tution Fee
                                                                                      Other
                                                   0      20          40    60   80
                                                       NUMBER OF STUDENTS



INHOME TUTORS- Marketing Plan                                                                   21
Figure 5 shows the most important factors that students consider before taking tuition. Those
factors include; tuition fee, time, distance, experience, school teacher, qualification and other
important factors. The exact results from the survey forms are clearly labeled in the above figure.

Figure-6


                                 IMPROVEVENT OF TAKING TUTION
                                                      Yes   No



                                                   11%



                                                             89%




Based on the survey results, figure 6 shows whether student achieve progress or improvements
when taking tuition. 90 students (89%) said that they achieve progress when they take tuition.
However, 11 students (11%) of the students said that they don‟t get any improvement even they
take tuition.

Figure-7


                                PROBLEM FACES WHEN TAKING TUTION
      NUMBER OF STUDENTS




                           60    a, 57

                           50
                                      b, 42
                           40

                           30
                                                                            f, 20
                           20                                       e, 16
                                              c, 12         d, 12
                                                                                    Other, 9
                           10

                            0
                                 a     b       c             d       e        f      Other
                                                   PROBLEMS FACES


INHOME TUTORS- Marketing Plan                                                                  22
Figure 7 is based on the problems faces when taking tution. In the above figure it labeled only
the problem letters and the detail of those apply here.

   a) Class cancel
   b) Tuition-teachers are not attending on time
   c) Tuition-teacher cannot deliver the things you want
   d) No improvements
   e) There is no way to check improvements before school exam (tution teacher do not give
      exams)
   f) If not satisfy with teacher, difficult to change the teacher



Figure-8


                 IMPORTANCE OF HAVING PROFESSIONAL
                     REGISTERED ORGANIZATION

                                            No
                                           27%


                                                     Yes
                                                     73%

                                                                                  Figure 8


Figure 8 is based on whether they think it is very important to have professional registered
organization which supplies tuition teachers. The majority (73%) said yes and 27% said no.




INHOME TUTORS- Marketing Plan                                                           23
Appendix-3


Minutes of the work
Bachelors of business

Purpose: to create a marketing plan for new product, that can be introduced in Maldivian
market.




Date            Time            Discussions                                venue             Participants
29th      June 12:30        – Selected a product
                                                                           FMC               ALL
2011            13:30
                16:00       –
 th
                                                                           CL
7 July 2011     17:30           Discuss about brand name for the service                     ALL


10th       July 14:00       – Discuss about competitors
                                                                           CL                ALL
2011            15:00              Tuition centers
                                   Individual tutors

17th       July 14:00       – Discussion about conducting a primary
                                                                           Central library   ALL
2011            15:1            research



4/8/2011        2:00-3:00       discussion about what product to select    FMC               ALL




11/8/2011       2:30-3:45       discussion about what product to select    FMC               ALL




13/8/2011       2:00-3:15       product finalization                       FE                ALL



18/8/2011       3:00-4:00       service packages                           FMC               ALL



INHOME TUTORS- Marketing Plan                                                                    24
23/8/2011   1:30-2:45    making survey form              FHTS             ALL




25/8/2011   4:00-4:45    discuss about 7 p's             FE               ALL




31/8/2011   3:00-4:00    discuss about 7 p's             FE               ALL




4/9/2011    11:30-2:15   financial analysis              FMC              ALL




6/9/2011    4:00-6:00    financial analysis              FMC              ALL



                                                         Haveeru,
7/9/2011    4:00-6:00    interview with media                             ALL
                                                         MNBC



11/9/2011   2:00-3:30    interview with tution centres   Tuition centre   ALL




14/9/2011   2:00-5:00    analysing survey forms          FHTS             ALL




22/9/2011   4:00-6:00    writing draft                   FE               ALL




24/9/2011   12:00-3:00   writing draft                   FE               ALL




INHOME TUTORS- Marketing Plan                                               25
25/92011    2:00-6:00    writing draft         FMC




28/9/2011   2:00-4:00    review draft          FE




28/9/2011   9:00-11:00   review draft          Assad home




29/9/2011   10:00-1:00   report finalization   Assad home




22/9/2011   4:00-6:00    writing draft         FE




INHOME TUTORS- Marketing Plan                               26
References




Education, M. o. (2010). School Statistics. Male', Maldives.

Kotler, P., & Kevin, L. K. Marketing Management 12e. New York: Prentice Hall.

Nizar. (2011, September 20). Classic Tuition Centre Supervisor. (I. Zabeeh, Interviewer)

Saeed, G. (2011, September 20). Kieveni Owner. (I. Zabeeh, Interviewer)

Westwood, J. (2000). How to write a marketing plan. london: Clays Ltd.




INHOME TUTORS- Marketing Plan                                                              27

Mais conteúdo relacionado

Destaque

Singapore Tuition Industry (Social Stratification)
Singapore Tuition Industry (Social Stratification)Singapore Tuition Industry (Social Stratification)
Singapore Tuition Industry (Social Stratification)Shi Jun Neo
 
Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)
Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)
Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)Andrew Charles Jackson
 
Awesome Tools & Apps for Student Projects
Awesome Tools & Apps for Student ProjectsAwesome Tools & Apps for Student Projects
Awesome Tools & Apps for Student ProjectsShelly Sanchez Terrell
 
Oracle Business Strategy
Oracle Business StrategyOracle Business Strategy
Oracle Business Strategysathyagenius
 
Marketing Management Slides
Marketing Management SlidesMarketing Management Slides
Marketing Management SlidesAbdul Hamid
 
Problem based learning
Problem based learningProblem based learning
Problem based learningSoumya Sahoo
 
PJ Software Company Presentation
PJ Software Company PresentationPJ Software Company Presentation
PJ Software Company PresentationPJ Software
 
SWOT and PESTLE analysis of Facebook
SWOT and PESTLE analysis of FacebookSWOT and PESTLE analysis of Facebook
SWOT and PESTLE analysis of FacebookMouad Gouffia
 
Digital Marketing Strategy Guide
Digital Marketing Strategy GuideDigital Marketing Strategy Guide
Digital Marketing Strategy Guidepixelbuilders
 
Project Based Learning Ppt
Project Based Learning PptProject Based Learning Ppt
Project Based Learning Pptragogli
 
Marketing - Definition & Importance, Concepts & Marketing Management Tasks
Marketing - Definition & Importance, Concepts & Marketing Management TasksMarketing - Definition & Importance, Concepts & Marketing Management Tasks
Marketing - Definition & Importance, Concepts & Marketing Management Taskssharen1967
 

Destaque (18)

Singapore Tuition Industry (Social Stratification)
Singapore Tuition Industry (Social Stratification)Singapore Tuition Industry (Social Stratification)
Singapore Tuition Industry (Social Stratification)
 
PBL 2012
PBL 2012PBL 2012
PBL 2012
 
Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)
Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)
Developing an Integrated Digital Media Marketing Plan (2014 UPDATE)
 
Meeting agenda
Meeting agendaMeeting agenda
Meeting agenda
 
Tutoring
TutoringTutoring
Tutoring
 
Digital marketing for the Ateneo MBA Student v68
Digital marketing for the Ateneo MBA Student v68Digital marketing for the Ateneo MBA Student v68
Digital marketing for the Ateneo MBA Student v68
 
Awesome Tools & Apps for Student Projects
Awesome Tools & Apps for Student ProjectsAwesome Tools & Apps for Student Projects
Awesome Tools & Apps for Student Projects
 
Oracle Business Strategy
Oracle Business StrategyOracle Business Strategy
Oracle Business Strategy
 
Marketing Management Slides
Marketing Management SlidesMarketing Management Slides
Marketing Management Slides
 
Problem based learning
Problem based learningProblem based learning
Problem based learning
 
Strategy Formulation and Implementation
Strategy Formulation and ImplementationStrategy Formulation and Implementation
Strategy Formulation and Implementation
 
PJ Software Company Presentation
PJ Software Company PresentationPJ Software Company Presentation
PJ Software Company Presentation
 
SWOT and PESTLE analysis of Facebook
SWOT and PESTLE analysis of FacebookSWOT and PESTLE analysis of Facebook
SWOT and PESTLE analysis of Facebook
 
Digital Marketing Strategy Guide
Digital Marketing Strategy GuideDigital Marketing Strategy Guide
Digital Marketing Strategy Guide
 
CRM assignment
CRM assignmentCRM assignment
CRM assignment
 
Marketing Management
Marketing ManagementMarketing Management
Marketing Management
 
Project Based Learning Ppt
Project Based Learning PptProject Based Learning Ppt
Project Based Learning Ppt
 
Marketing - Definition & Importance, Concepts & Marketing Management Tasks
Marketing - Definition & Importance, Concepts & Marketing Management TasksMarketing - Definition & Importance, Concepts & Marketing Management Tasks
Marketing - Definition & Importance, Concepts & Marketing Management Tasks
 

Semelhante a Marketing management

Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...
Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...
Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...garyweinstein
 
Business Case Competition solution proposal - E-learning platform, Car Parts ...
Business Case Competition solution proposal - E-learning platform, Car Parts ...Business Case Competition solution proposal - E-learning platform, Car Parts ...
Business Case Competition solution proposal - E-learning platform, Car Parts ...noel alam
 
Pauline Hanson Essay
Pauline Hanson EssayPauline Hanson Essay
Pauline Hanson EssayEmily Garcia
 
Module 4 - Employ Our First Apprentice
Module 4 - Employ Our First ApprenticeModule 4 - Employ Our First Apprentice
Module 4 - Employ Our First Apprenticecaniceconsulting
 
Module 4 Employ Our First Apprentice
Module 4 Employ Our First Apprentice Module 4 Employ Our First Apprentice
Module 4 Employ Our First Apprentice caniceconsulting
 
Mod 4 Employ Our First Apprentice
Mod 4 Employ Our First ApprenticeMod 4 Employ Our First Apprentice
Mod 4 Employ Our First Apprenticecaniceconsulting
 
Bankedge Franchise
Bankedge  FranchiseBankedge  Franchise
Bankedge FranchiseBankedge
 
Mod 4 employ our first apprentice
Mod 4 employ our first apprenticeMod 4 employ our first apprentice
Mod 4 employ our first apprenticecaniceconsulting
 
PROJECT ON RELIANCE RETAIL
PROJECT ON RELIANCE RETAILPROJECT ON RELIANCE RETAIL
PROJECT ON RELIANCE RETAILtarun3288
 
MSME entrepreneurship training in India project report
MSME  entrepreneurship  training in India project reportMSME  entrepreneurship  training in India project report
MSME entrepreneurship training in India project reportProf. Harsha Kestur
 
Business Bridge Seminar Report 18th November 2013
Business Bridge Seminar Report 18th November 2013Business Bridge Seminar Report 18th November 2013
Business Bridge Seminar Report 18th November 2013Tom Parry
 
Overall Sales And Marketing Activities In Comilla Terrotory
Overall Sales And Marketing Activities In Comilla TerrotoryOverall Sales And Marketing Activities In Comilla Terrotory
Overall Sales And Marketing Activities In Comilla TerrotoryHasnan Imtiaz
 
Report shruti singh
Report  shruti singhReport  shruti singh
Report shruti singhShruti Singh
 

Semelhante a Marketing management (20)

Case Study
Case StudyCase Study
Case Study
 
Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...
Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...
Akonia_GradStart_22_essential_steps_for_successfully_RECRUITING_and_RETAINING...
 
Business Case Competition solution proposal - E-learning platform, Car Parts ...
Business Case Competition solution proposal - E-learning platform, Car Parts ...Business Case Competition solution proposal - E-learning platform, Car Parts ...
Business Case Competition solution proposal - E-learning platform, Car Parts ...
 
business-plan
business-planbusiness-plan
business-plan
 
Pauline Hanson Essay
Pauline Hanson EssayPauline Hanson Essay
Pauline Hanson Essay
 
Module 4 - Employ Our First Apprentice
Module 4 - Employ Our First ApprenticeModule 4 - Employ Our First Apprentice
Module 4 - Employ Our First Apprentice
 
Module 4 Employ Our First Apprentice
Module 4 Employ Our First Apprentice Module 4 Employ Our First Apprentice
Module 4 Employ Our First Apprentice
 
Mod 4 Employ Our First Apprentice
Mod 4 Employ Our First ApprenticeMod 4 Employ Our First Apprentice
Mod 4 Employ Our First Apprentice
 
CASE STUDY ENT530 (PASTA PASTA)
CASE STUDY ENT530 (PASTA PASTA)CASE STUDY ENT530 (PASTA PASTA)
CASE STUDY ENT530 (PASTA PASTA)
 
FINISHING SCHOOL
FINISHING SCHOOLFINISHING SCHOOL
FINISHING SCHOOL
 
Bankedge Franchise
Bankedge  FranchiseBankedge  Franchise
Bankedge Franchise
 
Mod 4 employ our first apprentice
Mod 4 employ our first apprenticeMod 4 employ our first apprentice
Mod 4 employ our first apprentice
 
PROJECT ON RELIANCE RETAIL
PROJECT ON RELIANCE RETAILPROJECT ON RELIANCE RETAIL
PROJECT ON RELIANCE RETAIL
 
MSME entrepreneurship training in India project report
MSME  entrepreneurship  training in India project reportMSME  entrepreneurship  training in India project report
MSME entrepreneurship training in India project report
 
Business Bridge Seminar Report 18th November 2013
Business Bridge Seminar Report 18th November 2013Business Bridge Seminar Report 18th November 2013
Business Bridge Seminar Report 18th November 2013
 
FinalBusinessPlan copy
FinalBusinessPlan copyFinalBusinessPlan copy
FinalBusinessPlan copy
 
Overall Sales And Marketing Activities In Comilla Terrotory
Overall Sales And Marketing Activities In Comilla TerrotoryOverall Sales And Marketing Activities In Comilla Terrotory
Overall Sales And Marketing Activities In Comilla Terrotory
 
The IMR Story_EDU draft v
The IMR Story_EDU draft vThe IMR Story_EDU draft v
The IMR Story_EDU draft v
 
Report shruti singh
Report  shruti singhReport  shruti singh
Report shruti singh
 
Internet Marketing Plan
Internet Marketing PlanInternet Marketing Plan
Internet Marketing Plan
 

Marketing management

  • 1. MRAKETING MANAGEMENT (MKT201) Group Assignment MARKETING PLAN FOR Inhome Tutors 9/29/2011 Hewlett-Packard Prepared by: Ismail Zabeeh: 023956 Markers Name: Assad Mohamed: 024260 Nuzha Nizam Mohamed Sameeh: 023958 Ahmed Simau: 017643
  • 2. Table of Contents EXECUTIVE SUMMARY ............................................................................................................ 3 Situational Analysis ........................................................................................................................ 4 Ansoff „s matrix ...................................................................................................................... 4 Porter‟s Five Forces ................................................................................................................ 4 Industry Analysis ........................................................................................................................ 5 PESTEL Analysis ....................................................................................................................... 6 Competitive Analysis .................................................................................................................. 7 Customer Analysis ...................................................................................................................... 7 SWOT Analysis .......................................................................................................................... 9 Marketing Objectives .................................................................................................................... 10 Marketing Strategy........................................................................................................................ 10 Product Life Cycle ........................................................................................................................ 11 Potential Strategies........................................................................................................................ 12 Positioning strategy................................................................................................................... 13 Marketing Programmes ................................................................................................................. 13 Product ...................................................................................................................................... 13 Price .......................................................................................................................................... 13 Place (Distribution) ................................................................................................................... 13 Promotion (Advertising) ........................................................................................................... 13 People........................................................................................................................................ 14 Physical Evidence ..................................................................................................................... 14 Implementation Plan ..................................................................................................................... 14 Performance Evaluation and Monitoring ...................................................................................... 14 Financial Information.................................................................................................................... 16 Contingency Plans ........................................................................................................................ 17 Appendix-1 ................................................................................................................................... 18 Appendix-2 ................................................................................................................................... 19 Appendix-3 ................................................................................................................................... 24 Minutes of the work ...................................................................................................................... 24 References ................................................................................................................................. 27 INHOME TUTORS- Marketing Plan 2
  • 3. EXECUTIVE SUMMARY Demand for tuition has been drastically increasing from the start of last decade. Parents feel to give tuition for their children at home is much safer. The fact is demand for tuition centers has a declining trend due to favorable trend on demand for private individual tutors. The golden opportunity has attracted many college students and school leavers as a mean to earn income. So here we are thinking that there is a profitable business (market gap) which is serving as a middleman to bring the students and tutors in a professional manner. For the opportunity, we have designed a product (Inhome Tutors) which will fulfill the needs of students and their parents which will be served and all marketing activities will be implemented in capital city of Maldives (Male‟). Inhome Tutors will play a middleman role in this service. Our service will offer the advantage of knowing performance or progress of the students, and they can change their tutor if they want. We are also eligible and trustworthy as we are registered organization. We have planned to increase tangibility by having a website and customer care office. Our Marketing programmes comprises, participating in educational exhibitions, TV advertising, billboards near schools, and brochures. We have to start these marketing activities immediately after its launch in order to make awareness among the people. This plan will be implemented in the year 2012 and we expect the results of these marketing programmes in first quarter. As there is a robust demand in the industry, we are anticipating very high return. We expect to achieve revenue of MRF 1500,000 within one year after commencing the business; that is in 2012. INHOME TUTORS- Marketing Plan 3
  • 4. Situational Analysis Inhome Tutors is a new product to education industry which is planned to be launched in January 2012. We provide tuition services in the comfort of our customers‟ home. Our service is not just only an ordinary tutor service; we also have a website especially for our customers where they can check their progress that they have achieved desired results over time. www.Inhome- tutors.com has a feature that allows seeing the profiles of tutors who are available and useful resources for students. By the way the website is helpful for parents too. Our market area is capital city of Maldives (Male‟ City). The target market is high income parents who need tuition for their children at home. We have four main packages created according to the affordability of our potential customers. Those who need tuition at low cost can have a group of students which can spread the burden on each parent. Ansoff ‘s matrix Inhome tutors is a new innovative product which is to be introduced in an existing market. Thereby our product falls under product development stage in Ansoff‟s matrix as we are focusing our product to the students who take private tuition. We have to promote this service to these potential customers. In this situation we have low moderate risk as our product is new to this market. Product development is being used since there is a growing market for Home Tuition. Porter’s Five Forces There are large number of new entrants and substitutes in the market due to less legal requirements and low investments. As there are many substitutes, bargaining power of buyers are very high. And bargaining power of suppliers (tutors) is very high. To overcome from these threats we must keep differentiating our products based on market research. We can also conduct continuous service audit to increase customer value and minimize the competitions from new entrants. INHOME TUTORS- Marketing Plan 4
  • 5. Industry Analysis Tuition industry in male‟ is more of an Oligopolistic competition where there are few dominants that have comparatively equal prices and market share. Market size is about 7300 students according to ministry of education‟s statistics. We have conducted a market research where we used a random sample of 250students studying in grade 8, 9, 10 in different schools. From those 250 students 136 students responded which is 54.4% of the sample. Research shows that 74% students take tuition that and 26% says they do not take tuition. From this our target market will be those who want home tutoring service. There are few new entrants in to the market like SciCom Tuition Centre and Kiyeveni. And there are very sound failures in the history of this industry. One of them is failure of Kinara Tuition Centre which is probably the first tuition centre. After about two decades of existing in the market they turn to be a failure because they could not meet or adapt the changes in customer requirements. Another significant failure is Review Tuition Centre who failed since they failed to manage tutors. It is very important to have a PESTEL analysis in order to have an in-depth industry analysis. INHOME TUTORS- Marketing Plan 5
  • 6. PESTEL Analysis There is a law stating that every Maldivian student has right or must get there textbooks and stationeries for free. “Primary and secondary education shall be freely provided by the state. It is imperative on parents and the state to provide children with primary and secondary education”. (Chapter-2 fundamental rights and freedom, article 36, subsection B). Due to this; parents can save their expenditure to buy those stuffs which will lead to spend more on other educational purposes. This is because parents will feel that they should spend more on their children‟s education. There is a Black market in this industry. Those expatriates are actually not allowed by government to provide tuition services. But government cannot regulate this rules and regulations as it is very difficult to regulate. We can force government on this issue and we can make public aware on this issue. We expect inflation will increase as in Maldives the main cause for inflation is imported inflation and world prices are increasing day by day. Although there is an expectation of increasing inflation rate in the economy, we believe that it will be controlled since government has promised to do so. In Male‟ there is increasing trend of bullying on the street, rape cases, and other crimes. Since our target market falls on teenage group who might choose a wrong path easily; their parents are hesitant to let their children out of sight for any purpose. Most parents are very concern about the education of their children, so that they spend a lot on education eventhough their disposable income decreases. They are spending large percentage of their income on children‟s education especially for tuition. Since the country‟s administrative services is being started to decentralize, people started moving back to their islands. However, still some people are migrating to Male‟ to get the better services which may not be available in island. And some families do send their children for education purpose. Normally capital cities are high congested when we look on other parts of the world. Now a days, Maldivian are getting aware and familiar with internet and its better uses. As our service is a pure service, we planned to create a website to show our tangibility. In our website, INHOME TUTORS- Marketing Plan 6
  • 7. students can check their academic progress by participating exams. That means basically we are available on 24hours through our website. For this we can provide possible question which may appear in the exams, additional readings which can help students to be well aware about the topics they cover in tuition class and schools and readings for parents too. Other services we can include consist of helping and advising students about exam stress relief. Competitive Analysis There is a kind of oligopolistic competition in the industry since there are few registered organizations providing tuition service. We have different group of competitors who are those individual tutors serving in the market who has a great influence. Competitions from tuition centres are more likely to be indirect competition and competitions from individual tutors who are giving home tuition are direct competitors who have high influence on our business. There are new entrants in market like Kiyeveni Tuition Centre and other individual mobile tutors. There are an increased number of tutors who give home tutoring service. However we believe that we will have a strong position in the market as we are registered organization when compared to individual tutors who might be difficult to market their service individually. It is very important to highlight that we cannot get into price competition as we cannot provide the service at a lower price. Only the way we can compete in the market is providing quality service and differentiating our products from competitors. In short, the potential source of competitive advantage for us is unique features in our product. And the perception we can build among the people. Customer Analysis We have two segmentation dimensions which are demographic and geographic. This is because; we are only serving this service for students who are in grade 8, 9 and 10 who lives Male. Our target market for the service is those who are in need of home tuition in Male. With limited resources Inhome Tutors plans to target O‟Level students who are in grade 8, 9, 10 and students who wants to have extra help to re-sit O‟Level exam. According to a survey conducted by us, 75 percent of those parents who hire a tutor to their child have monthly INHOME TUTORS- Marketing Plan 7
  • 8. household income above MRF 20,000. We have created packages according to customer requirements at affordable rate. SP1 (Student Package) is most premium package which is created for high income earners who want give tuition for their child without having peers with their child. However we anticipated that we will get a less revenue from this package compared to other packages. This is because charging very high tuition fee from individual student may attract few customers and also because we have to offer a better salary for the tutors for this package. We believe that if highly focus on this group, we can make out better results from the students who prefer SP1. And our image will brighten up and it will create positive perception towards us. According to survey we have conducted, we understood that majority of the customers will demand for SP3 and SP4 as they will have a group of students who share the total fee among them. In our research, 26% of the students who go for tuition said they have a private tutor and 46% said they take tuition as groups. We expected that there might be changes in target customer needs, buying behavior, perceptions and attitudes. We assume that customers are in need of a professional organization which provides tutor service to their door step. This is because, in many cases they find strange tutors and paying in advance for them is very difficult since there has been known cases of tutors faking around. There are no way students and parents can know how well are their children performing and what kind of progress they are achieving. So customers need to have a way to measure this and let them know on which area they are performing good and bad. That means we expect the customers‟ perception will change towards us, as better and trustworthy organization and feel like avoiding the normal unregistered tutors. If there is a registered organization providing tutor service, customers will tend to trust them and so demand for such organizations will increase. Due to increase in demand new registered mobile tutors will enter into the market and also existing registered tuition centres might also bring up a service targeting these customers. So competition in the market will be high in future. As this is a new service to Maldivian economy, at first we cannot start serving to all the segments in the market. That is why we are targeting students who are in grade8, 9, and 10 to INHOME TUTORS- Marketing Plan 8
  • 9. know whether we can get enough tutors. However we are considering targeting new segments in the future like A Level, middle school, primary and disabled children. SWOT Analysis WEAKNESSES STRENGTHS -difficult to recruit tutors -Trustworthy -high direct costs(tutors‟ salary) -Product differentiations -high price -Have industry experience owner -inexperienced tutors -innovation -poor flexibility to market conditions -very good perceptions -may not be able to cope with current demand -earn additional income by placing -less brand awareness advertisements in our website -lack of communication THREATS OPPORTUNITIES -high formalities -expatriates are prohibited to provide tuition -high price competition from individual mobile service tutors and tuition centres -have many segments that we can serve - new tax system -growing markets -new competitor -changing customer tastes -declining population -increasing demand -new regulations INHOME TUTORS- Marketing Plan 9
  • 10. Marketing Objectives The overall goal of Inhome Tutors‟ marketing program is to create enhanced public awareness through comprehensive advertisements that will result in increased demand. Inhome Tutors will have 50 tutors who are from different colleges and high schools. Inhome Tutors have following objectives:  Achieve MRF 1,500, 000 revenue in 2012 (first year)  Get 115 clients in 2012(first year)  Increase revenue by 15% per year from 2012 for next two years  Achieve a high level of customer satisfaction among 95% of customers  Increase demand for SP3 and SP4 thus positively impacting revenues on an annual basis; increase sale of these packages by 15 percent.  Increase retention of customers throughout the year thus positively impacting revenues; increase length of retention from 6months to 10months.  Reduce marketing costs by 25% in year-2. Marketing Strategy Inhome Tutors has successfully identified and going to implement a creative marketing theme entitled “Tuition in the comfort of your home!” our marketing message is selected to appeal to the array of key target markets. The message resonates with consumers who have an interest to get tuition in their home with fewer or no peers. Our logo shows a flying book which shows that we can provide tuition any home in the capital city of Maldives. Our Ads will show how the service works and it will be informative. Haveeru classifieds do have high chances for our advertisement to reach our customers as most of mobile tutors advertise their number there, stating the subjects they offer tuition. So we can put half page Ad next to Haveeru Classifieds or bottom banner or content left banner so customers usually get a perfect glimpse when searching for mobile tutor. Television Ads are also a great way to attract the target market. Therefore chance of reaching our target audience is high INHOME TUTORS- Marketing Plan 10
  • 11. if we advertise our services in Haveeru Daily and MNBC One. However a large advertising campaign is very expensive Our market segmentation strategy is geographic (Male‟) and demographic segmentation. Main market segments include A level students, O‟Level students, Primary school students, Middle school students and disabled children From these market segmentation strategies, our targeting strategy is O‟Level students as we want to test market before introducing the service for other segments. However our marketing strategy is target marketing. Our target market is those who are in grade 8, 9, and 10. Profile of our target market is as follows:  Age: between 12 and 18  Gender: Male and Female  Social Class:  Consumptions and use patterns o They need tuition throughout academic year o They want to take tuition at home with few fellow students o Parents spend on tuition fees for their children  Marketing and brand dimensions o They prefer the brand and they will also consider product attributes like price, quality etc.  Nature of our relationship with customers o Face-to-face, telephone, website or internet o We will ask for feedback end of each and every month o Customers can communicate with us 15 hours a day Product Life Cycle As our product is a new product it is in pioneering stage in product life cycle stage. Hence our advertisements are based to make awareness about the product and changing the attitude and perception of potential customers. INHOME TUTORS- Marketing Plan 11
  • 12. Potential Strategies According to Porter‟s Generic Strategy, differentiation and differentiation focus are potential strategies for Inhome Tutors‟ strategy formulation. In differentiation strategy we can differentiate our product by using price, quality, features, customer services etc. We also can go for niche marketing strategy in which we can focus on a very distinct and small market segment in which all the marketing mix will be tailored on this segment. Advantages and disadvantages for us of selecting these two potential strategies are as follows: Strategy 1: Differentiation Strategy Advantages: The major benefit we will get if we implement differentiation strategy is that we can concentrate on achieving superior in an important customer benefit area valued by large part of the market. Our services are quality leadership and we should match tutors with students expertly, inspect them carefully and we also should communicate our quality. Disadvantages: We cannot focus on more narrow market segments if we are having differentiation strategy. Strategy 2: Niche Marketing Strategy Advantages: We can have differentiation within the narrow target segment. Disadvantages: Our product is created for a huge target segment, so niche marketing may loss market share for our product. We have selected differentiation strategy after evaluating the two potential strategies. So core strategy for our product is differentiation strategy to achieve marketing objectives which has discussed in this plan. INHOME TUTORS- Marketing Plan 12
  • 13. Positioning strategy Our positioning strategy is focused on both parents and tutors as parents have high influence to buy our product. We will position our brand “Inhome Tutors” in the mind of consumers as a high quality, convenient, trustworthy product. We also will use strong benefits offered by our product. In short, we will position in consumers‟ mind as a unique helpful product to meet their tuition needs. So branding is necessary tool to differentiate our service from direct competitors who does not have any brand for their service to differentiate. Marketing Programmes Marketing programmes for Inhome Tutors is based on 7Ps in marketing mix. This is very important as we are a service provider. Product Superior features of our product consist of checking students‟ progress before school exam, match students and tutors depending on personality and need of students as this will have high influence to on the results. Price We will use cost plus pricing as we have high variable cost (tutors‟ salary). We have created different packages and our customers can select according to their requirements. Place (Distribution) Our target market is in Male‟ and we provide tuition service by sending tutors to students‟ home. Other distribution we use to deliver our products to customers using a website. We can use website statistics to arrange future marketing programmes as well. Promotion (Advertising) Expenditure on advertising will have high influence on marketing programmes. We have budgeted marketing budget for our service to promote. We will reach our target audience through TV Ads, billboards near schools, brochures and internet (facebook). INHOME TUTORS- Marketing Plan 13
  • 14. People As this is a highly personnel service, we should ensure that our tutors have right training process before hand. We should carry some marketing activities in order to attract tutors towards our organization. There will not be any customers for us if we do not have tutors to deliver our service. Physical Evidence Inhome Tutors is likely to be a pure service and it is more intangible. We have to create some tangibility to our product. We have done this by renting out small office premise, appearance of tutors (they wear our business card when visiting to customers), and website. Implementation Plan The following milestones identify the key marketing programmes. It is vital to accomplish each activity on time and fit within the budget. Master Schedule Milestones start-date end-date Budget Department Marketing plan completion 1/7/2011 29/09/2011 25000 Marketing dept billboards installation & brochures 1/12/2011 10/12/2011 25000 Marketing dept website completion 1/12/2011 30/12/2011 20000 IT department Advertising campaign #1 1/13/2011 30/12/2011 20000 Marketing dept Promotional Ad campaign 1/1/2012 15/02/2012 15000 Marketing dept Recruitment Process 1/1/2012 7/8/2012 5000 HR dept Total expenditure 110000 Performance Evaluation and Monitoring There will be quarterly marketing plan review meetings. A summary of costs against budget and actual progress against schedule will be prepared in these meetings. A report on the implementation of the action plans will be presented at these meetings. This plan is to be revised every 12 months. And also we will have an eye on the tutors we are dealing with, because they are the most important asset that makes us who we are. To do this a performance appraisal form INHOME TUTORS- Marketing Plan 14
  • 15. will be filled by the teacher, his/her students and we will compare it with others teachers and to previous months. Inhome Tutors will review its objectives once a year to evaluate the achievement of the goals. In addition, Inhome Tutors keep detailed record of the customer‟s information so it is easier to handle other operations. We will monitor our Web site hits and the amount of time people spend on the site. The figures are compared on a monthly basis, quarterly basis as well as a yearly basis. In year two on a comparative monthly basis we will look at what happened the year before; how did we market our product the year as opposed to last year; what special events occurred to stimulate an increase (or decrease), and if the advertising might have been an influence. When numbers go up, either on a month-to-month basis or quarterly basis or on a yearly basis, Inhome Tutors cautiously feel marketing efforts have been successful. WE hope to have an increase of 15 percent per year in all revenues and 90 percent students retain in Inhome Tutors‟ figures will consider as a success and will call our efforts a profitable success. INHOME TUTORS- Marketing Plan 15
  • 16. Financial Information We are anticipating a favorable return in the future. So we expect that Inhome Tutors will grow 15% of its sales in 2013 and 2014. sales forecast for three years 2011 2012 2013 2014 MRF MRF MRF MRF Sales Revenue 0 1579050 1815908 2088294 Direct costs 0 932760 1072674 1233575 Market Research 25000 Billboards 25000 TV ads 30000 bus registration 5000 total indirect costs 85000 388200 427020 469722 op profit -85000 258090 316213.5 384996.5 sales growth rate 15 15 profit growth rate 22.52 21.75 We can achieve break-even at point of 36 customers. (It is explained in the appendix-1) Major assumptions 1. We will manage have 115 sessions per day before the end of 2012 2. Television advertisement costs will increase in 2013 3. We do not have to spend on billboards INHOME TUTORS- Marketing Plan 16
  • 17. Contingency Plans If demand for our product is low, we can change our pricing structure. And if tutors are not willing to work in our organization, we can change remuneration structure. For instance if we did not get enough students registered in the promotional registration campaign or we did get lots of negative comments about price we will follow the following contingency pricing strategy by saying that it‟s a promotion. Contingency pricing plan Tutors packages total fee per head salary std-4 2200 550 1560 std-3 1800 600 1440 std-2 1600 800 1320 std-1 1500 1500 1200 customized negotiable negotiable pack negotiable INHOME TUTORS- Marketing Plan 17
  • 18. Appendix-1 Break-even Analysis The break-even analysis indicates that MRF 35864 is required in monthly sales revenue to reach the break-even point Monthly units break-even= 36 customers Monthly sales Break-even= 35864 Assumptions that we made Average unit revenue MRF = 2157 Average per unit variable cost MRF= 1274 Estimated monthly fixed cost MRF = 32500 Average per unit revenue = 1579050 = total revenue per year = 131588= average revenue per month = 2157 732= total unit per year 61= average per month Average per Unit variable Cost= = =1274 INHOME TUTORS- Marketing Plan 18
  • 19. Appendix-2 Here are graphical data which was drawn out of survey form results. Here, we are going to analyze the outcomes from the survey questionnaires through bar graphs, pie charts and doughnut charts. Figure-1 Number of studdents take tuition 120 100 80 60 yes 40 no 20 0 yes no Figure 1 From the survey form results, Figure 1 shows, out of 136 students (100%), 101 students (74%) are taking tuition and the rest 35 students (26%) are not taking tuition. Thus from this pie chart it is clearly known that the majority of the students are taking tuition. Figure-2 TYPE OF TUTION TAKEN BY THE NUMBER OF STUDENTS individual group tuition centre 28% 26% 46% Figure 2 INHOME TUTORS- Marketing Plan 19
  • 20. Figure 2 shows the type of tuition taken by the students and the number of students who are taking a particular tuition. The types of tuition basically divide into three. They are individual (at home) tuition, group tuition and tuition centre. From the above pie chart it is clearly shown that 54 students (46%) are taking tuition in groups, 33 students (28%) are taking tuition in tuition centre and 30 students (26%) are taking individual tuition at their homes. Figure-3 PREFFERED NUMBER OF STUDENTS IN TUTION GROUPS NUMBER OF STUDENTS 40 20 0 two three four five six AMOUNT OF STUDENTS IN GROUPS Figure 3 shows the preferred number of students in tuition groups. 34 students want to take tuition in group which is based on four students, 32 students want to take tuition in group which is based on three students, 17 students want to take tuition individually without forming groups, 13 students want to take tuition in group which is based on six students and only 5 students want to take tuition in group which is based on five students. INHOME TUTORS- Marketing Plan 20
  • 21. Figure-4 STUDENTS ENROLLED IN DIFFERENT SUBJECTS 70 NUMBER OF STUDENTS 60 50 40 30 20 10 0 SUBJECTS Figure 4 shows the amount of students who has enrolled in different subjects in tuition. The name of the subjects and the number of students enrolled in those subjects are clearly labeled in the figure above. Figure-5 FACTORS CONSIDERING BEFORE TAKING TUTION Other Tution Fee Quality Time FACTORS School Teacher Distance Experience Experience Distance School Teacher Time Quality Tution Fee Other 0 20 40 60 80 NUMBER OF STUDENTS INHOME TUTORS- Marketing Plan 21
  • 22. Figure 5 shows the most important factors that students consider before taking tuition. Those factors include; tuition fee, time, distance, experience, school teacher, qualification and other important factors. The exact results from the survey forms are clearly labeled in the above figure. Figure-6 IMPROVEVENT OF TAKING TUTION Yes No 11% 89% Based on the survey results, figure 6 shows whether student achieve progress or improvements when taking tuition. 90 students (89%) said that they achieve progress when they take tuition. However, 11 students (11%) of the students said that they don‟t get any improvement even they take tuition. Figure-7 PROBLEM FACES WHEN TAKING TUTION NUMBER OF STUDENTS 60 a, 57 50 b, 42 40 30 f, 20 20 e, 16 c, 12 d, 12 Other, 9 10 0 a b c d e f Other PROBLEMS FACES INHOME TUTORS- Marketing Plan 22
  • 23. Figure 7 is based on the problems faces when taking tution. In the above figure it labeled only the problem letters and the detail of those apply here. a) Class cancel b) Tuition-teachers are not attending on time c) Tuition-teacher cannot deliver the things you want d) No improvements e) There is no way to check improvements before school exam (tution teacher do not give exams) f) If not satisfy with teacher, difficult to change the teacher Figure-8 IMPORTANCE OF HAVING PROFESSIONAL REGISTERED ORGANIZATION No 27% Yes 73% Figure 8 Figure 8 is based on whether they think it is very important to have professional registered organization which supplies tuition teachers. The majority (73%) said yes and 27% said no. INHOME TUTORS- Marketing Plan 23
  • 24. Appendix-3 Minutes of the work Bachelors of business Purpose: to create a marketing plan for new product, that can be introduced in Maldivian market. Date Time Discussions venue Participants 29th June 12:30 – Selected a product FMC ALL 2011 13:30 16:00 – th CL 7 July 2011 17:30 Discuss about brand name for the service ALL 10th July 14:00 – Discuss about competitors CL ALL 2011 15:00  Tuition centers  Individual tutors 17th July 14:00 – Discussion about conducting a primary Central library ALL 2011 15:1 research 4/8/2011 2:00-3:00 discussion about what product to select FMC ALL 11/8/2011 2:30-3:45 discussion about what product to select FMC ALL 13/8/2011 2:00-3:15 product finalization FE ALL 18/8/2011 3:00-4:00 service packages FMC ALL INHOME TUTORS- Marketing Plan 24
  • 25. 23/8/2011 1:30-2:45 making survey form FHTS ALL 25/8/2011 4:00-4:45 discuss about 7 p's FE ALL 31/8/2011 3:00-4:00 discuss about 7 p's FE ALL 4/9/2011 11:30-2:15 financial analysis FMC ALL 6/9/2011 4:00-6:00 financial analysis FMC ALL Haveeru, 7/9/2011 4:00-6:00 interview with media ALL MNBC 11/9/2011 2:00-3:30 interview with tution centres Tuition centre ALL 14/9/2011 2:00-5:00 analysing survey forms FHTS ALL 22/9/2011 4:00-6:00 writing draft FE ALL 24/9/2011 12:00-3:00 writing draft FE ALL INHOME TUTORS- Marketing Plan 25
  • 26. 25/92011 2:00-6:00 writing draft FMC 28/9/2011 2:00-4:00 review draft FE 28/9/2011 9:00-11:00 review draft Assad home 29/9/2011 10:00-1:00 report finalization Assad home 22/9/2011 4:00-6:00 writing draft FE INHOME TUTORS- Marketing Plan 26
  • 27. References Education, M. o. (2010). School Statistics. Male', Maldives. Kotler, P., & Kevin, L. K. Marketing Management 12e. New York: Prentice Hall. Nizar. (2011, September 20). Classic Tuition Centre Supervisor. (I. Zabeeh, Interviewer) Saeed, G. (2011, September 20). Kieveni Owner. (I. Zabeeh, Interviewer) Westwood, J. (2000). How to write a marketing plan. london: Clays Ltd. INHOME TUTORS- Marketing Plan 27