Introduction
The study revolves around the marketing and competitive environment of a famous University brand of Australia-CQ University. It tells that how this University in a short span of 30 years has become so popular. All this is discussed by carrying out a SWOT and PEST analysis of the University. Then various marketing mix strategies are use by CQ to target the market is also talked about.
Background
CQ University is an Australians based university which is dual sector. It has its presence in about 20 countries all over Australia and is available for both domestic and international students. It commenced in 1967 and in 1192, became an official university named CQ University. It offers both vocational training and higher education. It offers a variety of courses ranging from diplomas, degrees, short courses, trade certificates, post graduate qualifications and many more. The merger of CQ University and CQIT helps students to easily shift from one level to other. The students can finish their studies by staying local and also meet the shortage of skills at Central Queensland area. Various branches of this university all over Australia are equipped with range of facilities and lively character. Various criticisms face by CQ University
In 2006, when many students of Melbourne campus failed to clear the Tax exam, they blamed the University for Insufficient Facilities and expressed that they were not able to dispute their grading.
In 2011, the university was blamed by Australian Medical Association raised various issues in the courses offered by the university in chiropractics and is not acceptable. However university provided the explanations to both the criticisms but still there’s a need of better dialogue between alternative and traditional practices ("Home - CQU", 2017).
Market summary
It provides education to over 35000 students all over the world with approximately 5000 international students. It has over 36000 alumni present internationally from total of about 82000. It offers about 300 courses which are quality oriented in all study levels. It has presence with its offices in India, China and Vietnam with many registered agents.
Marketing by CQ University
Segmentation by CQ University
CQ follows both mass marketing and target marketing for tapping the market. The strategy selected by the University should make a balance between its ability to meet the requirements of market and meeting the needs of the students targeted (Network, 2017). Mass marketing helps CQ University to have a lot of cost advantages in distribution, production and promotion of educational services. But this marketing is undifferentiated so its application is limited. A Unique Selling Point helps CQ university to create a distinct image in the minds of students (H. Hawes, 2007). Target marketing divides the consumer according to benefits sought into 3 types:
Quality buyer: In this, the student wants the best education irrespective of the prices.
Value buyer: The students match the education gained with the prices at which they are available.
Economy buyer: Here, students just concentrate on low financial and acquisition sosts and can take marginal education at fewer prices.
According to degree of motivation, the learners are of four types:
Career learners: Students who study only to pursue their careers.
Socio-improvement learner: The students who get education for increasing their knowledge, potential or for self-actualization.
Leisure learner: The students attach importance to only recreational values attached to the education.
Ambivalent learner: The student whose motive is not clear and his purpose of education is due to unknown reasons.
Target market
The target market of CQ University is all the students above 14 years present in Australia and internationally. The target all the learners which are divided on the basis of motivation or the benefits gained.
PEST analysis
Political factors
The immigration policies of Australia are very relaxed and this facilitates the promotion of education in Australia. The Australia has high spending power which promotes many students to study in Universities like CQ.
Economic factors
The University adjusts its fees for international students keeping in mind the exchange rates fluctuations. The loans available for education by students are available at very nominal rates. CQ University helps students by offering various scholarships and arranges work permits for them.
Social factors
Australia is a multicultural place which has become attraction for many international students. CQ University provides a right mix of education and social conditions for the students and they also cope t adjust with the cultural differences in the students. Moreover, Australia possesses a high degree of tolerance for international students.
Technology factors
CQ University explicitly uses technology in their courses and has technology for application databases and knowledge. They promote usage of e-books, have smart classes, have started drop box for exchange of ideas. They have made technology an inherent part of education process.
Marketing mix analysis
Products
It provides various comprehensive course options from diploma courses to degrees in business, health, arts, hospitality, psychology, information technology, accounting, business, digital media, health, sciences, arts and many more. It provides various global opportunities to their students and CQU English courses.
Place
Australia is a modern and safe country where cities are ranked best to study and work. The cities offer cultural diversity, fast-paced life and vibrancy. The climate of Australia ranges widely and ranges from 6 to 31 degrees depending upon the seasons. The country has adequate public transportation facilities. Various agencies like Urbanest provide accommodation to students of CQ University. Some of the campuses like in Mackay and Rockampton provide on-campus stay options also. It has various campuses all over Australia.
Price
CQ University also has arrangement for fee-waivers within all their partner institutions; they also get scholarships up to 20 percent to students who are academically sound. The tuition fee is very reasonable at CQ (2017). The cost of living also depends upon the lifestyle, location and accommodation types preferred by students. The tuition fees for various courses are mentioned on the website of CQ University. They have divided the fees into term and annual fees.
Promotion
It promotes itself aggressively within and outside Australia. CQ University has stationed various in-country representatives in India, Vietnam and China to promote the international students in the University. This makes things easy for the students to know about University and other procedures relating to the admissions. It promotes their English courses so that maximum number of people can join it. CQ University has a marketing Services Team to designing the programs based materials, marketing campaigns, display materials, corporate information, websites for promotion of the University. They even help in development and implementation of the corporate identity of CQ all over the University.
SWOT analysis
Strengths
Variety of choices: They provide the features which are suitable to individual lifestyles example campuses close to beaches, campuses close to city life or any other
Equipped with modern methods of learning and teaching facilities
Fully-equipped study areas with recreational options in place
Provides opportunity to mingle with students of diverse backgrounds
Provides quality education at affordable and competitive prices
About AUS 200$ spent on the new facilities and capital works in last 5 years
Provides best clinical, internships and industrial placements and learning programs
Weaknesses
Some of the feeder campuses are not doing very good and programs don’t match the needs of students
The placements of the University is not up to mark
Overall cost of studying in this University is high for international students
Government doesn’t provide adequate funds to it
Opportunities
Individual University wings and their respective heads should be given more power to design or alter the courses available there
Research wing of the University still is an area that needs more focus
Some programs should have immediate access by the international students like no time should be wasted
Threats
Competition from other Universities is a major threat as Australia is loaded with numerous Universities
Better placements by other Universities
Failure of some of the centres of CQ University
Achievements and Brand positioning
Comes under top 3 universities in the world
In top 150 out of university which are more than 50 years old
Was recognized as first change maker campus by Ashoka U, an innovation social group
Got 5 stars ratings for internationalisation, Inclusiveness and Distance learning courses ("Distance education - CQU", 2017)
It is a member of Student exchange programs internationally having presence in 6 continents
In 2015, was rated above the standards for research with real outcomes
Offers the best MBA courses ad in 2016 ratings, was fifth company as per CEO magazine ("Central Queensland University", 2017)
Competitor analysis
Competition itself is a key factor which will transform the universities. The Universities are trying to increase the number of students by using various methods. The University has to focus on areas of research to differentiate itself ("How competing for students will transform universities", 2017). CQ University also faces a tough competition from universities which are in existence from more than 100 years.
Conclusion
The study throws light on Australia University CQ. It discusses the market summary of the University. Various methods by which market is segmented by University are discussed and how CQ University use this segmentation to target the market. Then SWOT and PEST of CQ University are discussed.
References
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Central Queensland University. (2017). Times Higher Education (THE). Retrieved 11 April 2017, from https://www.timeshighereducation.com/world-university-rankings/central-queensland-university#ranking-dataset/612573
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Home - CQU. (2017). Cqu.edu.au. Retrieved 11 April 2017, from https://www.cqu.edu.au/
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Distance education - CQU. (2017). Cqu.edu.au. Retrieved 11 April 2017, from https://www.cqu.edu.au/student-life/distance-education