BZ103 Introduction To Marketing

BZ103 Introduction To Marketing

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BZ103 Introduction To Marketing

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BZ103 Introduction To Marketing

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Course Code: BZ103
University: Christian Heritage College

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Country: Australia

Question:
Was it Essential for the college to devwlop new products in this case,subjects,courses or peograms?

Answer:
The Centralian College should develop new college programs and courses that could have helped it in growing the business. Diversified college programs would enable the students to choose a course on the basis of their skill sets and abilities. The number of courses being increased would help the students to choose from a wide range of courses and it can help the students in the aspect of their self-realization (Kotler & Armstrong, 2013).The students would get the opportunity to prove themselves in the event of choosing a suitable program. A limited number of courses would restrain the choice of the student and more number of college programs can help in the students in the aspect of realizing their potential. 
It was an important factor that the Centralian College penetrates the market that would provide them with the opportunity to grow the business. For developing the business it was important that the Centralian College was prepared for the changes in the external environment that can help it to come into limelight. The market penetration would be instrumental in creating sense of the excitement that can provide the staff with a sense of pride. Market penetration will be able to help the Centralian College for drawing more students into the college that can help in increasing the reputation of the college. 
According to me, retaining the current student base was more important as compared to increasing the student hours as it can help in increasing the net value of the Centralian College. Relative cost for the generation of revenue from that of the existing customer would be lower as compared to the new customers. In the event of the students staying in the organisation the college expenditure can be saved as more amount is required on replacing the existing customers. It can be easier for the college to keep the existing customers as compared to finding the new customers. The existing students staying loyal to the institution can be a matter of prestige for the Centralian College and it can improve performance of the college. 
I think that the Centralian College could have made use of the extended marketing P’s for achieving desired outcome. The Centralian College can make use of positioning that can help it to distinguish its services from the competitors. It can offer specialized courses and innovative programs that can help it to draw more students to the college. The fees of the college should be decreased so that those who are from the middle class can enrol in the college. The physical environment of the Centralian College should be improved as the setting pertaining to education can help in improving the practice of teaching that can be of benefit for the college. 
It was important for the Centralian College to develop the strategic steps that can help it to expand in the market. The strategic steps can help the college to take steps on the basis of the changes in the environment that can help it to create a prominent position in the market. The assessing of the market can help the college in the arena of investment that can help it to provide certain facilities which can help in improving the brand reputation of the college. The strategic steps can help the college in gaining the respect of the people and the staff of the college. 
References:
Kotler, P., & Armstrong, G. (2013). Principles of Marketing (16th Global Edition)

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