Market Segments in Regional State University †MyAssignmenthelp.com

Question: Discuss about the Market Segments in Regional State University. Answer: Introduction The following paper is on identifying the market segments of the Regional State University. This will highlight the few facts that the university has to set its eyes for the further growth. The universities will have to set their targets properly so that they can implement their plans properly. This will help them to grow substantially in many countries in the coming ten years or so. It is very important to denote that they will look to grow their business to many countries in the future and this is why they need a strong marketing strategy in order to catch the attention of the students. As they work in the education industry, their primary target will be to serve the needs of the students. They will have to undertake some social responsibilities as well. They have to identify their market segments so they can cater to the needs of their target population in a better way. The Regional State University will need to train their marketing department to collect the concerned information to expand in some of the nearby countries and other continents as well. Segment 1 Regional State University could target the students who are the part time students studying in UAE.. It is because the students who come to UAE for higher studies are always in need of a proper guidance (Mathe Marais, 2013). They always want someone or something to show them the proper way to improve their skills properly. They will need to attract the attention of these part time students to get a better place in the education industry. As their target people are engaged as part time students they cannot give much time for their courses. This is why the university should provide them with the distance education online courses. This industry is very much competitive as their competitors might provide better courses for the students at a smaller amount. They should provide the students of what they ask for. Then they can provide the students with that kind of subjects. Generally the students who have much money with them for their jobs would be able to give much money to the universi ty. This is the reason why they should provide the courses to the students in installments. The students can pay the amount of the courses through some monthly or quarterly installment processes. This will be better for them indeed (Riefler, Diamantopoulos Siguaw, 2012). The university can also provide the students with various courses on several language and science subjects (Armstrong et al., 2015). They should also provide them with the scope of research works on their subjects. Thus the Regional State University can be successful in spreading their name across the international borders by providing the best quality educations services to all the part time students (Tanner Raymond, 2015). They can also provide online education services to the students of their target countries. They can also target the students who belong to the socially backward classes. This is one of their corporate social responsibilities (Carroll, 2015). Criteria for Identifying Segments 1 Measurable: This measurable segment can be assessed by the facts of how many students come to UAE each year by having contact with the Airlines companies and the big hotels. They can make partnerships with the big corporate houses to fetch the part time students from different occupations as well. This will help them to have an idea about their target market segment (Thorson Moore, 2013). Substantial: This target segment is indeed a large one. The number of the target people has always been on a high indeed (Wedel Kamakura, 2012). The number of arrivals of the part time students has always been plenty. This will impact of the market share of the Regional State University. Differentiable: The part time students will tend to take the help of the Regional State University than the native ones because the Regional State University will give some special discount offers. The part time students would want to complete some online courses after completing their wirks in whatever they are engaged in.. If the part time students belong to different cultures, religions and class they will also provide them with classes that will train them to become acquainted with the UAE culture. This will be motivating for them as well. The Regional State University will provide the students with better chances for their improvement in the future lives. Even though the religions and classes can be different for the UAE, this fact of part time students will help the University for the Differentiable Target Market Segments (Kotler, 2015). Accessible: This part of the target segmentation could be accessed by the proper advertising and the promotional activities. This might positively attract the attention of the students (Hooley, Piercy Nicoulaud, 2012). Actionable: If Regional State University can fulfill the demands of the students by catering to their needs in a better way, their business might flourish and they can open their branches in several other countries. Segment size and potential growth rate: This target segment is completely substantial so Regional State University can make it a target very much. However, it should be kept in mind that the university should provide quality services in the education (Hooley, Piercy Nicoulaud, 2012) This will help the organization to increase the number of students for them. Structural attractiveness: It has been found that there are many market competitors in the education industry so the Regional State University will have to provide them with the best services through their operational procedures (Solomon et al., 2014). As there is a very strong competition, Regional State University should always provide the best services with their managerial procedures. Their offers for the foreign students will bring in better results in terms of admission. Companys adjectives, resources and values: The major objective of Regional State University is to grow in their lines of business and expand further in many ways. If the universities provide the students with the best services, they will automatically be able to grow in other regions as well. They have the objective to cater to the various needs of the students, especially the academic ones (Solomon et al., 2014). The resources they will use are the skills of the professors and various skill improvement policies set up by the government. The effective strategies will surely lead Regional State University to make their objectives successful indeed. The core values of the organization can be served by the resources. They are responsible for gifting the students with a better future that can help them to shine in their future career. They are inclined towards the employee engagement and providing the students with all the facilities within the university campus. Socially backward students in the Middle East Regional State University is going to provide the proper education facilities to the students of the other socially backward classes. They will look to implement on some strategies by which they can achieve their objectives. They are much inclined to provide the proper care to the students of the poor countries of the Middle East. This is why they have adopted the intention to help the students from those countries (Mullins, Walker Boyd Jr, 2012). Thus they might not get the intended profits by working in those regions but their following will surely rise during this process. They can help the students of those regions by providing them with the necessary books, uniforms and other important things. They can keep the amount of their courses very low as those students cannot afford high priced courses. One thing is for sure that they will get many donations across the world to fulfill their objectives. They can tie up with several companies to get the maximum benefits indeed. Criteria for identifying segments 2 Measurable: The target market in this scenario is very much scenario. If the Regional State University can collect the information about the total number of undergraduate students in the countries of the Middle East they can easily be able to provide their services effectively (Mullins, Walker Boyd Jr, 2012). Substantial: This target market is indeed a very big one because there are many countries in the Middle East Asia and there are many students who are studying in the colleges and universities. Differentiable: The provision of supplying the education to the needy students is very much exceptional from the other universities and Regional State University becomes differentiable in this case only (Mullins, Walker Boyd Jr, 2012). Accessible: This targeted market segment can be accessed properly by promotional strategies on the social media and advertising on TV. Thus the entire people can be come aware of their services properly. Actionable: This segment will not be profitable from the aspects of money since the students of the poorer regions would be served. Segment size and potential growth rate: This target segment is very large enough and Regional State University will look to put more emphasis on it with the proper resources. Structural attractiveness: It is a big fact that there are not many market competitors for Regional State University in this aspect. This is why they can provide their services without any problem (Mullins, Walker Boyd Jr, 2012). Companys objectives, resources and values: The Regional State University wants to spread the light of education in all the portions of the Middle East Asia. They have enough resources by which they will be able to achieve their objectives. They can continue with their growth in this segment as well (Keller Kotler, 2016). Students wanting online education There are many students across the world who want to take the best quality education from the universities but cannot be present there physically. This is why these students have been targeted by Regional State University. This will be very helpful for them since they can earn high amount of profits by providing the online education (Keller Kotler, 2016) Criteria for identifying segments 3 Measurable: This target segment can be measured by the number of online students being admitted through their website. Substantial: This segment is indeed large enough and this forms a huge percentage across the world. Differentiable: This segment can be differentiated by the fact that the students cannot be present at the university physically (Keller Kotler, 2016) Accessible: This segment can be accessed by the tech savvy students who are always ready to receive education from the online courses of the university. Actionable: If Regional State University can cater to the demands of these online students, they can be very popular in the field of the virtual education indeed. Segment size and potential growth rate: This target segment size is quite large. The potential growth rate is quite high since the number of online students is gradually increasing (Sheth Sisodia, 2015). Structural attractiveness: There are many market competitors for Regional State University in this segment. This is why they would like to improve their skills to a new level indeed. Company objectives, resources and values: The Company is targeting to maximize their potential in this segment. This is why they will set up new branches across many continents. This will cater to the needs of the online students. They have enough resources to value their objectives (Sheth Sisodia, 2015) Conclusion The paper can be concluded by saying that the Regional State University has identified their potential target segments. Now they are trying to improve their services to a large level. The target market segments and their potentials have been discussed in this paper. The three market segments and their sub points have been highlighted for the readers to understand their capacity in their path of growth. References Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015).Marketing: an introduction. Pearson Education. Carroll, A. B. (2015). Corporate social responsibility.Organizational dynamics,44(2), 87-96. Hooley, G., Piercy, N. F., Nicoulaud, B. (2012).Marketing strategy and competitive positioning. Prentice Hall/Financial Times. Keller, K. L., Kotler, P. 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