3. Students-On-The Go
Synopsis
Students-On-The Go, established in 2000 in the United States and Europe,
is an up-and-coming business in the foreign exchange student industry. Because
it is new amongst other companies of its kind, the innovative for-profit
organization is now working on becoming more recognizable and expanding
both domestically and globally. By focusing on its customers, its strengths, and
strategic marketing strategies, Students-On-The Go plans to increase its profit to
about $4.8 million within the upcoming year.
This business plan outlines the steps needed to improve profits, expand the
domestic market by focusing on economical, technological, and social trends
within the states, as well as exploring the possibility of seeking global
opportunities by analyzing the market for foreign exchange student
organizations around the world.
Students-On-The Go is focused on providing personal, educational, and
long-term benefits to all students by promoting education in a global society,
while providing a safe and assuring environment for all those involved. The
organization is also determined to provide its services to anyone interested,
regardless of financial need. In order to pursue these objectives more efficiently,
the following points will be the core of the company:
Improve on marketing strategies by launching campaigns, establishing a
website, and investing in other media outlets.
Differentiate the organization from others by using profits to lower the cost of
the program and grant scholarships.
Establish a personal connection to customers by hiring Community
Representatives, who will promote the company at a local level, and ensure
that the needs of every student and host family will be met.
By pursuing this proposed plan, the organization will be taking the
necessary steps to building its financial future, making immediate improvements
with long-term effects, and expanding the business in a favorable market, which
could result in a significantly increased profit of almost 5 million. However, there
are some limitations to the plan, including:
Average prices are taken from one organization, Two Worlds United.
The pricing strategy includes date from one organization, ISEP.
Estimates are not exact, and may differ based on changing factors
throughout the year.
Although the limitations may be significant enough to change the
resulting profit, the organizations used to acquire data are reliable, and the
tactics outlined in the plan ensure improvements in profit.
