Free Essay

Marketing Theories and Practice

In: Business and Management

Submitted By darylloh
Words 1739
Pages 7
Daryl Loh Zhen Zhe 25903969 tutorial 23
Q1.
Company name: Monash University Malaysia (http://www.monash.edu.my/)
Monash University is the first foreign university to be established in Malaysia. It is established in 1998 and located in Bandar Sunway.
Competitors:
* Taylor's University (http://www.taylors.edu.my/en/university/) * The University of Nottingham (http://www.nottingham.edu.my/index.aspx) * Help University (http://www.help.edu.my/)
Suppliers:
* Sunway Property (Property) (http://www.sunwayproperty.com/pd/) * Sunway Construction Sdn Bhd ( Construction works) (http://www.sunway.com.my/suncon/) * Atlas Vending (M) Sdn Bhd (suplply vending machine) (http://www.atlas-vending.com/)
Intermediaries:
* GTI Media Sdn Bhd (Marketing services agency, established a brand name doctorjob.com.my which help to advertise Monash Univeristy Malaysia) (http://gtimedia.asia/) * Sureworks Sdn Bhd (Marketing services agency, organise educational fair to help promote Monash University Malaysia) (http://www.sureworks.info/) * IDP Malaysia (Introduce Monash University Malaysia to students as an option) (http://www.idp.com/malaysia/studyabroad)
Customer:
* People which majority in the category of young adult and adult who seek for tertiary education * International and local students * Undergraduate and postgraduate students
Public:
* Ministry of Higher Education (government publics) (http://jpt.mohe.gov.my/eng/) * Jeffrey Cheah Foundation (financial publics) (http://jeffreycheahfoundation.org.my/) * Malaysian Association of Private Colleges and Universities (internal publics) (http://www.mapcu.com.my/)

Q2. Macro Environment | Impact on Private Universities | Cultural ChangeAccording to the Ministry of Higher Education, the number of Malaysian students that are studying abroad has increased from 58,963 in 2009 to 79254 in 2010. This has become a culture that are implanted in mindset of students and parents . This is due to the effect of globalisation and the mind set of being able to get a better job and salary. (Afterschool.my, 2012) | Malaysian students that are studying overseas has increased by 34% in just one year from 2009-2010. This has greatly decreased the number of students that are studying in local instead of overseas. Normally people that are studying abroad are economically affordable or its from sponsorship. For those who are economically affordable, if they do not study overseas and study locally their choice would most probably be private universities such as Monash University Malaysia due to the good reputation and quality. This has caused Monash university and private university to lose a lot of potential students that are enrolling in their courses and made the demand for Monash university lower. | Economic ChangeMalaysian ringgit dropped as Federal Reserve is targeting to increase their interest rates next year which greatly boosted the demand for the dollar. The ringgit declined 0.2% to 3.1727 per dollar as of 12.26pm in Kuala Lumpur, data compiled by Bloomberg show. (New Straits Time Online, 2014) | As Malaysian ringgit declines, the value of other countries' currency will increase when compared to Malaysian ringgit. This makes studying in Malaysia cheaper when compared to the neighbour countries. Malaysia will be joining in as one of the choice when people are considering where to study for their tertiary education as the cost of studying in Malaysia is cheaper and we have good and renowned universities in Malaysia. As more foreign students come to Malaysia, most of the foreign students would prefer private universities instead of local universities as their reputation is better. This allows private universities such as Monash University to have an advantage when compared to local institutions. This will increase the demand for private universities, hence more people will be enrolling into Monash University due to the good reputation. | Demographic ChangeAccording to the data and article, in about 30 years time, Malaysia will be expected to be a growing older populace. The annual growth rate of babies will decline from 1.8% in 2010 to 0.6% in 2040. While the potential workforce which age between 15-64 years old would rise from 19.3 million in 2010 to 26.6 million in 2040.(Patrick Lee, 2013) | With the increase in population which age between 15-64 years old, potential students that are enrolling in universities will be shoot up a lot. This includes both public and private universities. As the living cost in the society will be constantly increasing, most people will choose to study in university to obtain a Bachelor's degree, Masters or even a PhD in order to get a good job and satisfying salary to sustain their life and enjoy a luxury lifestyle. The demand for universities will increase by a lot as the population started to shoot up. This includes Monash University Malaysia as well as it is a renowned university in Malaysia and it would be the first few choices that people would consider when choosing which university to attend. | Political ChangeGovernment has announced that in the budget of 2014, the biggest allocation of budget will be allocated to the educational sector which is RM54.6 billion or 21% of the total budget of 2014 in favor to improve the education quality and experience of students. Among the RM54.6 billion, RM600 million will be provided to public institutions for researching purposes. (The Malay Mail Online, 2013). | Due to the increase allocation of budget to the public institutions, it made public institution more competitive when compared to private universities such as Monash University. This is because the quality, researches and learning experience will be better when compared to the previous years in the public universities. Besides the fees of public universities is cheaper when compared to private universities, so when people are considering about furthering their studies in universities, public universities would be in one of their choices as well since public universities are getting better and for those families that their economic condition is not that decent they would prefer public universities as well because of their increasing quality and cheaper fees. This will definitely decrease the demand for private universities and Monash University will experience decrease in the number of student enrolling in their courses due to the more competitive public institutions. |

Q3.
Research Question - What factor contributed to the decline in sales of Monash University Malaysia last year? - Who are the competitors of Monash University Malaysia? - Are students satisfied with the studying experience in Monash University Malaysia? - Which macro environmental changes( technological changes, cultural changes, demographic changes, natural changes, political changes or economic changes) affected the sales of Monash University Malaysia?

Research Objective - To find out the factors associated to the decline in sales of Monash University Malaysia last year. (exploratory research) - To clarify the student's mindset towards Monash University Malaysia. (exploratory research) - To identify the competitors of Monash University Malaysia. (exploratory research)

Sources of Data - Secondary data(quantitative). I will get the data from Monash University Malaysia annual report, other universities' annual report such as Taylor's university, The University of Nottingham and Help University.
Monash University - http://www.monash.edu.au/about/glance/publications/annual-report-2013.pdf
The University of Nottingham - http://www.nottingham.ac.uk/gep/documents/annual-reports/gep-annual-report-2012.pdf
Help University - http://www.hic.com.my/component/phocadownload/category/3-annual-reports.html?download=158:annual-reports-2012

Research approach - I will use mixed methods research, survey research and experimental research. The approach will be helping us to understand the factors and find out a conclusion. A survey will be conducted to collect the data required for the research through Internet, E-mail and survey around universities in the area. The data will be collected and analysed to find out the required conclusion to help to solve the problem.

Contact Methods - Information will be collected by online and interview. Online methods are very useful as interviewers are not only confined to mail and telephone. E-mail surveys and survey researches websites are very affordable. It is also quicker to create a large sampling as contact list can be created by interfacing with the existing student database or by purchasing list of students from secondary data companies. This is a very good method as the cost is very low and the result obtained is relatively accurate as there are no interviewer bias and they are not being interviewed in person, so usually they will be more willing to provide honest opinions. Interview can be done in a group as well. Focus group is a very good method. Focus groups are normally made up of six to 10. Focus group can be conducted through video conferencing or sit down and conduct it. Focus group is formed by finding the targeted student group and conduct an interview so that the sample can be more accurate instead of people of all age group which are not the potential customer of the university.
Research Instrument - Sample questions for the questionnaire or survey. This questionnaire is usable for both online and paper survey.
1. Which university are you studying right now? A. Monash B. Taylor's C. Nottingham D. Help
2. Are you satisfied with the university you are studying right now? A. Yes B. No
3. Is the facilities in this university sufficient and useful for students? A. Yes B. No
4. What factors that made you choose this university?(You may have more than 1 answer) A. Yourself B. Parents C. Location D. Friends E. Price F. Reputation
5. Which University do you prefer? A. Monash B. Taylor's C. Nottingham D. Help
6. What do you think Monash is lacking of when compared to other universities?
__________________________________________________________________________
7. Would you recommend your friend to join Monash University? A. Yes B. No If no, why?___________________________________

Reference List

After School (2012 , September 11). Malaysian students studying abroad increased by over 34% from 2009-10. Retrieved from http://afterschool.my/news_details.php?nid=260
News Straight Times ( 2014, August 21). Ringgit falls for a second day. Retrieved from http://www.nst.com.my/node/25278
Patrick, L (2013, July 29). A growing and ageing populace. Retrieved from http://www.thestar.com.my/News/Nation/2013/07/29/A-growing-and-ageing-populace-NSD-Msia-will-have-38-million-in-30-years-and-most-will-be-36-and-abov/
Soong, S. H. (2013, July 29). Malaysian Population by National Statistics Department Malaysia. Retrieved from http://www.chinesechamber.org.my/html/themes/chinesechamber/images/content/bulletin347/Malaysian%20Population%20By%20National%20Statistics%20Department%20Malaysia.pdf
The Malay Mail (2013, October 25). Budget 2014: Education sector receives biggest allocation. Retrieved from http://www.themalaymailonline.com/malaysia/article/budget-2014-education-sector-receives-biggest-allocation

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