Marketing
Marketing
Executive Summary
The University of Phoenix is the nation’s largest for-profit educational institution. The University of Phoenix has always prided itself on its ability to service “non-traditional” students, as well as being a pioneer in using technology to offer people an education. A marketing audit is necessary for this company to evaluate what they are doing well and what they may need to improve on. Increased profits and enrollment numbers have proved that the market for adult learning is at an all time high. To continue to be successful the company needs to look at current modalities, improve them and advertise the changes. Environmental Aspects will be reviewed in the marketing audit. Economics can affect the way students view their financial needs to obtain their degree. Based on how much money the student makes and if the student has a stable job, they may or may not choose to obtain their degree. Demographics have been considered in previous marketing audits and four educational modalities have been developed to fit the needs of students. These include online, classroom, directed study, and FlexNet. The University of Phoenix and its founder, John Sperling were true pioneers when they took learning away from the campus and offered classes that were more convenient for students who worked and had families but still wanted to earn their degree. Eventually, online learning came about in response to students who were unable to attend physical classes due to location issues, health issues, and many other obstacles.
Knowing the competition can help the company develop marketing strategies to stay viable and more profitable. Marketing objectives, strategies, and tactics are put into place by the University of Phoenix to develop marketing objectives that follow the mission statement:
“The mission of University of Phoenix is to educate working adults to develop the knowledge and skills that will enable them to achieve their professional goals, improve the productivity of their organizations, and provide leadership and service to their communities”. (University of Phoenix, 2006)
The next part of the Marketing audit is the Four P’s: Product, Place, price and promotion. Each component is essential in looking at the development needs of the University of Phoenix.
Finally, the Marketing audit will consist of recommendations to improve the University of Phoenix. These consist of better communication lines between the marketing and sales department, continued development of online resources, and better training for the staff. With the combination of current successful marketing tools and new ideas the University of Phoenix can continue to grow and graduate more satisfied students.
Executive Summary
The University of Phoenix is the nation’s largest for-profit educational institution. The University of Phoenix has always prided itself on its ability to service “non-traditional” students, as well as being a pioneer in using technology to offer people an education. A marketing audit is necessary for this company to evaluate what they are doing well and what they may need to improve on. Increased profits and enrollment numbers have proved that the market for adult learning is at an all time high. To continue to be successful the company needs to look at current modalities, improve them and advertise the changes.