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How to Create a Written Strategic Marketing Plan to Achieve Student Recruitment Goal While Enhancing Program Vibrancy Should You Extract the Right Dose.

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Presentation on theme: "How to Create a Written Strategic Marketing Plan to Achieve Student Recruitment Goal While Enhancing Program Vibrancy Should You Extract the Right Dose."— Presentation transcript:

1 How to Create a Written Strategic Marketing Plan to Achieve Student Recruitment Goal While Enhancing Program Vibrancy Should You Extract the Right Dose of Marketing Magic From the Genie’s Bottle or Develop a Strategic Marketing Plan that Best Positions Your School of Business in a Hyper-Competitive Environment? By Dr. Randy L. Frye Dean, School of Business Saint Francis University

2 Three Essential Questions To Be Asked When Writing a Marketing Plan
Planning Concepts Planning Tools Mission Statement (What is the purpose of our organization?) Situational Analysis Target Market Analysis Marketing Mix Analysis Industry Analysis SWOT Analysis Mission Statement Assessment Scorecard Marketing Mix Analysis Five Forces of Competition Analysis (Michael Porter) SWOT Analysis Where are we now? 3. Vision Statement (Where do we want to be in the future?) 4. Goals vs. Objectives 5. Big Hairy Audacious Goals (BHAGS) 6. S.M.A.R.T. Objectives 2. Where do we want to go? 7. Revised Marketing Mix Analysis 8. Boston Consulting Group Matrix 9. Product / Market Expansion Grid 10. Marketing Action Plan (MAPS) 3. How are we going to get there? 5. Revised Marketing Strategy (Target Market and Marketing Mix) 6. Assessment of strategic direction and writing strategic tactical marketing plans

3 Essential Elements of a Marketing Plan for an Academic Unit
Mission Statement, Core Values, and Vision Statement A complete Situational Analysis that includes an Industry analysis along with a SWOT analysis. Prioritized Target Markets Marketing Goals and Objectives Vivid Descriptors and Points of Pride for your Unit Marketing Strategy Profile Marketing Action Plans (MAPs) Implementation, Monitoring, and Analysis of Results

4 Mission Statement Attributes of a Good Mission Statement
Clear and concise statement of the unit’s purpose Provides clear direction Creates affinity and is endearing Enduring Distinctive Realistic/Honest Measurable SFU Statement of Mission The Saint Francis University School of Business seeks to enable students and graduates to know more, do more, and be more. The School of Business will graduate students who have the knowledge, skills, love of learning, confidence, drive, and ethical and moral values needed to be spiritually fulfilled in life and successful in professional careers.

5 Vision Statement Attributes of Good Vision Statements Be graphic
Be forward-thinking and directional Keep it focused, but allow some wiggle room Be sure the journey is feasible It makes practical sense Make it memorable SFU School of Business Vision Statement To be clearly positioned as, and to appropriately leverage the reputation as, the primary leader in business education and consulting in the Southern Alleghenies Region of Central Pennsylvania.

6 Additional Vision Statements
“To be perceived as one of the finest strong small university business programs in Pennsylvania and the Middle Atlantic states with notable excellence in all of our academic programs, but being particularly noteworthy in accounting and business management education.” “To develop a national reputation for a successful Students in Free Enterprise (SIFE) Team.” “Expand the Small Business Development Center (SBDC) into a comprehensive Center for Rural Business Development and Outreach center, including expanded and enhanced educational offerings, consulting, training programs, and a business incubator.”

7 Core Values A Franciscan, Catholic University Student-centric
The School of Business and its academic programs are liberal-arts based in the Franciscan tradition and are in alignment with the Eight Franciscan Goals of Higher Education and where applicable, the learning goals of the Saint Francis University General Education Program. Student-centric The School of Business is student-centered and strives to create student success stories, one alumnus or alumnae at a time. Teaching-focused and Outcomes-based The School of Business is committed to the outcomes-based assessment process and maintaining IACBE accreditation. Faculty must be devoted to effective teaching, scholarship, and service.

8 Industry Analysis Michael Porters Five Forces Model applied to a School of Business, including: Rival institutions Threat of New Entrants Threat of Substitutes Power of the Suppliers Power of the Buyers Complementors (a sixth force)

9 Availability of Substitutes
Michael Porter’s Five Forces Model Threat of New Entrants RIVALS Power of Supplier Power of Buyer Availability of Substitutes

10 Who are Your Direct Competitors?
Rival Institutions Who are Your Direct Competitors? Public Private Penn State – both Altoona and Smeal School at University Park Pitt-Johnstown and University of Pittsburgh Shippensburg University Indiana University of Pennsylvania (IUP) Mount Aloysius College Juniata College Duquesne University Saint Vincent College Robert Morris University (PA) Mount Saint Mary’s University

11 Threat of New Entrants Pennsylvania Highlands Community College offers a variety of low cost, business-related programs that erode market share in our OCE division and traditional undergraduate business programs. IUP and Robert Morris University offer graduate business programs in nearby Johnstown. Corporate online degree programs, such as the University of Phoenix, Keller University, or Strayer University could enter our regional market and offer adult-friendly undergraduate and graduate programs in business.

12 Availability of Substitutes
Community colleges offer affordability and confidence. Online degree programs offer convenience and access. Two-year business schools or technical colleges, such as Cambria Rowe and the South Hills School of Business and Technology offer quicker and cheaper routes to a college degree and earning a work credential. Corporate training programs and professional certificates can trump the need to earn to an advanced degree in business. Independent book learning and books on tape learning by working professionals.

13 Power of the Suppliers Business faculty command higher salaries than other categories of faculty and there is an acute shortage of doctoral-qualified business faculty. Pending retirements by large cohorts of Baby Boom School of Business faculty nationally will only make the faculty shortage worse.

14 Power of the Buyers Traditional-age students seeking business degrees have many universities and colleges to choose from and the competition is intense among schools of business. Adult students seeking graduate programs in business normally are more bound by geographic limitations and the availability of academic programs that provide desired convenience in terms of place and time utilities. However, online programs are overcoming geographic limitations. There are high switching costs for undergraduate and graduate students who do change schools and ultimately lose credits earned and time toward a degree.

15 A Sixth Force: Complementors
Recruiting High School Grads Recruiting Adult Learners High School teachers and guidance counselors “Alumni” parents of prospective students School of Business alumni Current students visiting their old high schools or hosting visiting students on campus Corporate partners who employ our graduates and current students Corporate CEOs, HR professionals, training and development managers or coordinators Program Alumni Chambers of Commerce and other associations

16 Summary of the Five Forces of Competition Analysis
Rivals – A strong competitive force Threat of New Entrants – Moderate threat Availability of Substitutes – Moderate force Power of Suppliers – Strong competitive force (faculty shortage) Power of Buyers – Strong competitive force Power of the Complementors to help – Strong potential if properly tapped

17 Competitive Positioning Strategies
Porter’s Generic Strategy Given the breadth and depth of Saint Francis University’s program mix, Porter’s differentiation strategy is the best competitive position to take. Differentiation fosters customer loyalty and support, brand preference or insistence, and perceived value through high perceived benefits rather than lower costs or prices. Treacy/Wiersema Strategy According to Treacy and Wiersema (1997) in their book The Discipline of Market Leaders, there are three value disciplines that managers must understand and develop competencies around: (1) “best total cost” or operational excellence model, (2) “best product” or product leadership model, and (3) “best total solution” or customer intimacy model. In the case of Saint Francis University, the best approach or model appears to be “best total solution” or customer intimacy.

18 SWOT Analysis Strengths Weaknesses Dedicated, talented faculty
Satisfied students and alums IACBE accreditation and outcomes assessment An outstanding SBDC An $1.5M. endowed chair program Outstanding career placement Small full-time faculty cohort Under-funded business school More curriculum integration is desired and coverage of information technology and global business Limited institutional support for marketing and public relations activities

19 SWOT Analysis Opportunities Threats
New academic programs in health care administration and sports management A new online MHRM program $5 M for Schwab Hall renovations Rural Business Center Francis in the Marketplace Ethics Center Competition from rivals and other competitive forces Adverse change in “potential student” demographics Reductions in corporate funding and work force reductions Faculty talent shortage Rural isolation

20 Prioritized Target Markets
Prospective students and their families Enrollment management professionals at the University Business faculty and staff (internal customers) Area Guidance counselors and high school teachers who teach business subjects Regional Employers, including HR and training managers Current Saint Francis University students College administrators and academic advisors Media Outlets and Chambers of Commerce General Public

21 Prioritized Marketing Goal #1
Recruit business students through effective promotion that creates awareness and enhances the image of a business education at Saint Francis University. Means to Reach Goal Increase marketing effort bandwidth and ensure that marketing efforts become more direct and seamless Primary focus To support our School of Business enrollment objectives Aspire for 250 FT undergraduate business majors 160 PT graduate students (MBA and MHRM programs)

22 Prioritized Marketing Goal #2
Develop a marketing communications plan for the undergraduate business programs that incorporates more effective communication of the following attributes of a Saint Francis University Business Education The Dr. Albert A. Zanzuccki Endowed Chair in Business Endowed Chair Program Profiles in Student and Graduate Portraits of Success The Executive-in-Residence (EIR) program The Springtime in London Trip/Course SIFE activities and other business club activities Career guidance sheets/ information for each of the six undergraduate business degree programs Articles on the different majors offered in business at Saint Francis University

23 Prioritized Marketing Goal #3
Develop a fund raising campaign to raise $5 million dollars to renovate and expand Schwab Hall into the NEW School of Business building within two years by identifying friends and benefactors Raise $2 million to endow the SBDC and create the Rural Business Outreach Center within three years

24 Points of Pride / Vivid Descriptors
Franciscan, Catholic focus on the holistic and ethical development of students Legacy of success among graduates and students Talented and dedicated faculty and students Outstanding career placement results Realistic / hands-on business education Personal attention / small class size Division I athletics – the games our students play

25 Marketing Strategy What is our product strategy and how do we effectively differentiate it? What is our promotional strategy, including our integrated marketing communications plan? What is our pricing strategy and financial aid packaging strategy? What is our distribution / location strategy?

26 Product Differentiation Model
London Travel Course Service Outreach Career Mentoring Student-Run Business Student Research Executive-In-Residence Program Active Clubs SIFE Speakers’ Program SBDC General Education Good Business Reputation CBC Modern Facilities Qualified Faculty Internships College Education in Business & Opportunity AUGMENTED PRODUCT EXPECTED PRODUCT GENERIC PRODUCT

27 Pricing / Financial Aid
Packaging Strategy School of Business Undergraduate Student Fellowships and Scholarship for Entrepreneurship and Economic Development (SEED) Graduate Assistantships for full-time graduate students who work at the University Corporate discounts for corporate partner institutions

28 Integrated Marketing Communications
Enhanced portfolio of promotional materials, including the “Portraits of Success” Campaign, updated newsletters, SIFE updates, and news stories about academic majors

29 Integrated Marketing Communications
Enhanced web site for the School of Business Use of social media, such as Facebook and Linkedin

30 Integrated Marketing Communications
Effective event marketing, such as the Tom Peters lecture

31 Distribution or Location Strategy
Loretto Undergraduate programs MBA program MHRM program Altoona MBA program State College MBA program Harrisburg MHRM program The $1.5 million Dr. Albert A. Zanzuccki Endowed Chair in Business program for the campus community and regional business community

32 Dr. Zan Endowed Chair Program
Elements of the Dr. Zan Endowed Chair Program Annual Distinguished Lecture Program, featuring speakers such as Ken Dychtwald, Stephen Sheetz, David Chilton, and Tom Peters Tom Peters David Chilton

33 Dr. Zan Endowed Chair Program
Elements of the Dr. Zan Endowed Chair Program Executive in Residence (EIR) program (six per year) Marjorie Kline Bill Ryan Jason Hite

34 Dr. Zan Endowed Chair Program
Elements of the Dr. Zan Endowed Chair Program Global Assistance Program for a Spring break in London excursion course Buckingham Palace Lloyds of London

35 Dr. Zan Endowed Chair Program
Elements of the Dr. Zan Endowed Chair Program Student Research Symposium

36 Marketing Action Plans (MAPs)
Title of the MAP Which goal does it support? Prioritized target audiences? Coverage Period – beginning and ending dates need to be specified. Who is responsible? Budget needs and timeline must be specified. Specific step-by-step actions that must be completed. Evaluation mechanism.

37 Marketing Artifacts

38 Marketing Artifacts Executive-In-Residence (EIR) Roger Stoy
Anthony Bambocci Earl Springer

39 Marketing Artifacts Springtime in London

40 Marketing Artifacts Tom Peters

41 Marketing Artifacts Steve Sheetz

42 Marketing Artifacts Students In Free Enterprise (SIFE) 9th Annual
2010 Regional Championship Team Breakfast

43 Lessons Learned Incremental improvement is more likely than revolutionary change. Continuous energy and dedication to the marketing effort are needed. It needs to remain a top priority. You need talented and creative people to fuel the effort. It can be a transformational experience for the School of Business.

44 Works Cited David, F. (1997). Strategic Management. Upper Saddle, NJ: Prentice Hall, pg. 89. Porter, M.E. (1980) Competitive Strategy, New York: Free Press. Stamats Communications, Bob Sevier, a vice president for this marketing communications consulting firm, provided a marketing plan template that we adapted for Saint Francis University more than a decade ago. Thompson, A., M. Peteraf, J. Gamble, and A.J. Strickland (2012). Crafting & Executing Strategy: A Quest for Competitive Advantage. 18th edition. New York: McGraw-Hill/Irwin, pp Treacy, M. and F. Wiersema (1997). The Discipline of Market Leaders: Choose Your Customers Narrow Your Focus, Dominate Your Market. Reading, Mass: Addison-Wesley.

45 Special Acknowledgment
Many of the materials prepared in our School of Business Marketing Campaign produced by: Ms. Stacy Varmecky, Marketing Coordinator for the School of Business and a May 2011 MBA graduate. Ms. Varmecky also assisted me in the preparation of this slide show. Ms. Oliva Shingle, graphic artistic previously employed by the School of Business.

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