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Marketing Of Educational Services

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Marketing Of Educational Services

  1. 1. Marketing of Educational Services By Priyanka Balwa MBA-III-B 2009-10
  2. 2. Education <ul><li>Education in its broadest sense is any act or experience that has a formative effect on the mind , character , or physical ability of an individual. </li></ul><ul><li>Education is the process by which society deliberately transmits its accumulated knowledge , skills and values from one generation to another through institutions . </li></ul>
  3. 3. Need for Marketing Educational services <ul><li>Need to “market” their services has not really been felt by the educational sector </li></ul><ul><li>This is because there is always Demand>Supply </li></ul><ul><li>But in the recent years, there is a shift in trends </li></ul>
  4. 4. <ul><li>Large number of institutions for specialized fields have been set up in the recent years for fields like Management and computer education </li></ul><ul><li>This has lead to increase in competition </li></ul>
  5. 5. <ul><li>This makes them come face to face with questions like </li></ul><ul><ul><ul><li>Product differentiation, </li></ul></ul></ul><ul><ul><ul><li>product extension, </li></ul></ul></ul><ul><ul><ul><li>diversification </li></ul></ul></ul><ul><ul><ul><li>and service integration </li></ul></ul></ul>
  6. 6. Education as a service <ul><li>Services are those separately identifiable, essentially intangible activities, which provide want satisfaction and are not necessarily tied to the sale of product another service </li></ul>
  7. 7. <ul><li>Education as a service can be said to be providing an intangible benefit ( Increment in knowledge, aptitude, professional expertise, skill ) produced with the help of a set of tangible ( infrastructure ), and intangible ( faculty expertise and learning ) aids </li></ul>
  8. 8. :::Points to be noted::: <ul><li>A consumer may have tangible physical evidence to show for the service exchange transaction </li></ul><ul><li>But the actual benefit accrued is purely intangible in nature </li></ul><ul><li>Education is a service which is geared primarily to the consumer market </li></ul>
  9. 9. Characteristics:- :::INTANGIBILITY::: <ul><li>Education is an Intangible dominant service—Impossible to touch, see or feel </li></ul><ul><li>:::Standardization is difficult::: </li></ul><ul><li>Lack of Standardization opens up marketing opportunity of differentiated need based course packages </li></ul><ul><li>Education as a service cannot be patented </li></ul>
  10. 10. :::Perishability::: <ul><li>Production and consumption are simultaneous activities </li></ul><ul><li>No inventories can be made up </li></ul><ul><li>Eg:- A lecture scheduled cannot be stored </li></ul>
  11. 11. :::Inseparability::: <ul><li>It is impossible to separate a service from the provider </li></ul><ul><li>There is a need for the service provider to be present when the service is to be performed and consumed </li></ul><ul><li>This limits the scale of operations—The number of providers available would define the number of simultaneous performances possible </li></ul>
  12. 12. :::Other Characteristics::: <ul><li>High Fixed cost, Low Variable Cost </li></ul><ul><li>Specialized and need based </li></ul><ul><li>Competition </li></ul><ul><li>Customer limitations </li></ul><ul><li>Lack of ownership </li></ul><ul><li>Heterogeneity </li></ul>
  13. 13. Marketing Strategies <ul><li>::::Before Deciding on the Marketing Mix, Educational Institutes should answer certain basic Questions:::: </li></ul><ul><li>What Business are we in? </li></ul><ul><li>Who are our customers and What benefits they seek? </li></ul>
  14. 14. <ul><li>Criteria that students apply:- </li></ul><ul><ul><ul><li>Reputation of the institute </li></ul></ul></ul><ul><ul><ul><li>Number of applicants keen to enroll in the course </li></ul></ul></ul><ul><ul><ul><li>Past success rate of placement </li></ul></ul></ul><ul><ul><ul><li>Faculty expertise </li></ul></ul></ul><ul><ul><ul><li>Width of specialization offered </li></ul></ul></ul><ul><ul><ul><li>Infrastructural facilities </li></ul></ul></ul><ul><ul><ul><li>Fees </li></ul></ul></ul>
  15. 15. <ul><li>How can we build or defend our competitive position? </li></ul><ul><li>What is our entry strategy? </li></ul><ul><li>How should we offer new service offers that help/strengthen the competitive position? </li></ul>
  17. 17. :::Marketing Mix::: Marketing MIX Product Price Place Process Physical Evidence Promotion
  18. 18. Product <ul><li>Range- </li></ul><ul><li>Quality Level- </li></ul><ul><li>Brand Name- </li></ul><ul><li>Post Transactional Service- </li></ul>
  19. 19. Price <ul><li>Level </li></ul><ul><li>Discounts (Scholarships) </li></ul><ul><li>Allowances </li></ul><ul><li>Commissions </li></ul><ul><li>Payment Terms </li></ul><ul><li>Consumers percived value </li></ul><ul><li>Quality/price relationship </li></ul>
  20. 20. Place <ul><li>Location </li></ul><ul><li>Accessibility </li></ul><ul><li>Distribution Channels </li></ul><ul><li>Distribution Coverage </li></ul>
  21. 21. Promotion <ul><li>Advertising </li></ul><ul><li>Personal selling </li></ul><ul><li>Sales promotion </li></ul><ul><li>Publicity </li></ul><ul><li>Public relations </li></ul>
  22. 22. People <ul><li>Personnel </li></ul><ul><li>Training </li></ul><ul><li>Commitment </li></ul><ul><li>Incentives </li></ul><ul><li>Attitudes </li></ul><ul><li>Degree of involvement </li></ul><ul><li>Customer contact </li></ul>
  23. 23. Physical evidence <ul><li>Environment </li></ul><ul><li>Furnishings </li></ul><ul><li>Layout </li></ul><ul><li>Noise levels </li></ul><ul><li>Facilitating goods </li></ul>
  24. 24. Process <ul><li>Polices </li></ul><ul><li>Procedures </li></ul><ul><li>Mechanism </li></ul><ul><li>Employee discretion </li></ul><ul><li>Customer involvement </li></ul><ul><li>Flow of activities </li></ul>
  25. 25. :::Current Trends::: <ul><li>The RDAS Approach— </li></ul><ul><li>The Relating, Discovering, Advocating, and Supporting (RDAS) </li></ul><ul><li>Notion of concept selling is applied to the marketing of products and services </li></ul><ul><li>The four RDAS categories are further divided into 12 sequential and interdependent tasks: </li></ul>
  26. 26. <ul><li>Client Identification </li></ul><ul><li>Fact Finding </li></ul><ul><li>Planning; </li></ul><ul><li>Establishing Credibility </li></ul><ul><li>Targeted Research; </li></ul><ul><li>Focused Planning; </li></ul><ul><li>Problem Analysis and Agreement; </li></ul><ul><li>Planning the Presentation; </li></ul><ul><li>Presenting; </li></ul><ul><li>Facilitating the Decision; </li></ul><ul><li>Achieving Closure; </li></ul><ul><li>and Rediscovering. </li></ul>
  27. 27. <ul><li>Rationale, practical suggestions, and examples related to marketing task accomplishment are presented within the discussion under each major heading. </li></ul>
  28. 28. <ul><li>This RDAS schema provides a template against which practitioners may assess their current activities, and may serve as a basis for establishing a new genre of management and cost accounting systems that can be applied to marketing educational products and services. </li></ul>
  29. 29. :::Thank you:::

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