Unit 4 - Peacewick potential questions Flashcards
- Explain a suitable promotional mix that PU might use to attract new students.
Below the line and above the line(promotional messages through mail, open days, incentives like scholarships)
- 7Ps of service marketing (more focus on people, process and physical evidence)
- Can employ guerilla marketing
- Outline one advantage and one disadvantage of PU using an aggressive marketing strategy (lines 60 to 62). [4 marks]
One advantage of using aggressive marketing strategies is that these marketing strategies ensure that the target market (potential students) will be aware of PU, possibly increasing the number of applications.
This is essential as recently the number of PU students applying and studying has decreased (line 52 to 54 and 78), which can tremendously impact their revenue, as being a university that provides a service PU is dependent on the student fees. Additionally, as other universities don’t provide such an extensive budget for marketing (line 61), there is a greater opportunity for PU to stand out from their competitors.
However, having suffered from cash flow problems, the aggressive marketing strategy may be a questionable idea. The reason for this being that the aggressive marketing strategies are quite expensive, hence increasing the outflows which can further impact the cash flow problems. Additionally, the marketing strategy is a gamble, although there is a greater assurance that students will be aware of PU, there is no guarantee that applications will increase (77 to 78). And hence, there is no guarantee that these costs can be later compensated from the student fees.
- Explain the external factors (reasons) that negatively affected PU’s marketing forecasts
An external factor that may be negatively affecting PU’s marketing forecasts is the lasting damages from the chemical explosion in september 2021. Despite PU’s aggressive marketing, the negative effects that the chemical explosion has had on PU’s campus mean that many fewer students are willing to enrol into the university knowing that they will receive a lower quality service.
An external factor that may negatively affect PU’s marketing forecast is the pressure they are currently facing from political activists and media. In spite of the efforts of Adriana’s aggressive marketing campaign, PU is currently facing significant backlash in national media for their failure to meet some aspects of their mission statement as well as having some controversial figures be appointed to their board of trustees and invited as guest speakers.
- Explain methods of CSR strategies that could improve PU’s stability.
Corporate social responsibility (CSR) refers to the value, decisions and actions that impact society in a positive way. It is about an organisation’s moral obligations to its stakeholders, the community, society as a whole and the environment.
Labour relations can help motivate Jim to work more efficiently and be more friendly to students and his coworkers
- Outline the importance of physical evidence for PU’s marketing strategies (4 marks)
Physical evidence refers to the tangible aspects and the customers’ personal experience of a service. For PU, physical evidence is important because firstly, if they go ahead with refurbishing the teaching facilities damaged by the accident, (line 138) it is key that students have a positive experience, which benefits PU’s reputation.
Secondly, as PU received external funding to develop AI and medicines, physical evidence is important for enrolled students to report to unenrolled students on how the environment of these faculties is. This is important because a positive experience of the environment improves PU’s reputation, and potentially raises the number of students again. (lines 42-45)
- Explain how the recession may have influenced PU’s marketing strategy of processes
Process refers to the operations involved in delivering a service to customers, whilst people refers to anyone directly or indirectly involved in a corporation. For PU, it is important to have efficient and
