Marketing Plan Summary on iTute
The following assignment is a Marketing plan on iTute, which was done for one of our client. The marketing strategy plan is an in detailed plan that was done in order to give a clear overview about the company, it’s structure, market opportunity, strategies, pricing and so on.
We know how difficult it can get for university students to complete their research projects on time. When bombarded with research papers or any other type of university assignments, students usually start looking for ASSIGNMENT HELP services or tutors to help them with their marketing assignments.
If you like to order a similar assignment for any of your digital marketing plan, financial analysis, either it be in a form of research paper, research analysis, than we can definitely help you.
Marketing Plan
Marketing initiative
The insight of online education market of Australia has indicates substantial growth as it was worth of $4billion in 2018 and is growing rapidly at the CAGR of around 8%, th
us expected to reach $7 billion by 2024 (Ken Research, 2018). Likewise, the private tutoring market of Australia is worth $1.25 billion with a yearly growth rate of 4.1%. The research of Australia
Online Tutoring Association (ATA) has provided that around 80,000 students in Australia are somehow engaged with tutoring services (ATA, 2020). The demand for online
tutoring services is specifically increasing, as fast lifestyle patterns and proliferation of internet of things has made acquisition of online education easier for students (Matthews, Garratt & Macdonald, 2018).
Based on the growing trend of online personalized tutoring, iTute is aimed to provide innovative and personalized teaching services to graduate students, whereby they will be able to connect with subject matter experts for mastering their knowledge of quantitative subjects. The students will be provided with economical solution and different subscription plans will be provided to them to assure that engage with iTute based on their need as well as affordability.
Marketing Objectives
|
Marketing Objectives of iTute |
Justification |
|
| 1 |
Partnering with 20 top universities of Australia to provide tutoring services to graduate students’ pool enrolled in quantitative subjects including maths, statistics, calculus, accounting and business economics, by the end of June 2021.
|
Targeting students from all universities is not possible in first year of operations, therefore top 20 universities will be partnered as target market. Additionally, there are plenty of qualitative courses which might be requested by students and iTute currently cannot hire diverse staff for each subject. Therefore, only specific quantitative courses are being choses to assist students.
|
| 2 |
To increase awareness of iTute by 30% among both national and international students, by the end of June 2021.
|
Awareness among students will serve as the way to assure growth of business and can help in increasing customer base of iTute. Adoption of different promotional methods will serve as the way to increase awareness among students regarding online tutoring services of iTute. |
| 3 |
To enrol at least 15% students for iTute tutoring services from top 20 universities of Australia, by the end of June 2021. |
Initially, it would be challenging for iTute to increase its customer base and thus efforts will be made to attain the 15% target of its enrolments during first year of operations. |
Target Market
The primary target market for iTute are graduate students who need help with quantitative courses. The students enrolled in top 20 universities of Australia will mainly be focused, encompassing both Australian as well as international students. The quantitative courses are mainly considered as complicated during initial tears of education and thus large pool of students is expected to seek help.
The segmentation of target market has been carried out by making reliance on multiple strategies of segmentation, whereby demographic, geographic, psychographic and behavioral characteristics of customers are considered. See the table below:
| Demographic Segmentation |
|
| Geographic Segmentation |
|
| Psychographic Segmentation |
|
| Consumption and Use Pattern |
|
| Marketing and Brand Dimensions |
|
Positioning Strategy
iTute will position itself to offer tutoring services to both national and international students in only top 20 universities of Australia, whereby it will be focusing on partnering with universities. Partnering with universities will make iTute authentic and trustworthy solution for graduate students of those universities, who are struggling with quantitative subjects. The points of differentiation are;
- Graduate students of top 20 universities only
- Partnering with universities to access students
- Offering personalized tutoring services
- One to one meeting sessions to offer online learning to students
- Highly authentic and trustworthy services, based on partnering with respective universities of students
- Offering only quantitative subjects supports, which are most difficult for students
- Free trial exams will help students to improve their weaknesses
The slogan of “personalized tutoring for success” clearly conveys that iTute is aimed to enhance the real learning and understanding of students by offering them personalized and private tuitions. The personalized sessions will enable students to repeat their queries several times to ensure that real learning is achieved. It can be seen in positioning map of iTute that highly personalized and low cost services are offered to customers, which ensure that value is offered at affordable rates to customers.
Marketing Mix Strategies
Product
iTute is an online learning and tutoring service which will offer highly personalized private tutoring sessions to students enrolled in top universities of Australia in undergraduate programs. The support will mainly be offered for quantitative subjects including; maths, statistics, calculus, accounting and business economics.
The iTute will offer online learning classes to interested students through video calling, whereby students will be able to view high quality video, supplemented with voice calling features. The quality of video and voice will be assured to avoid any kind of distortion in the voice. Additionally, if student will still experience any issue regarding the quality of voice or video, the session will be repeated by tutors to assure that learning material is communicated to students in effective way.
Students will be offered an opportunity to choose their tutor from the list of highly qualified and capable tutors’ pool. The trial session will also be offered to students for free, such that they get greater satisfaction about the tutor’s ability to help them in their respective subjects (Roddy et al., 2017). Students seeking help from iTute will be able to approach their specific tutor for queries regarding their subjects and they will be offered assistance by tutor within 24 hours. In order to make learning experience of students even better, the tutors might take assistance of other tutors. The following table provides clear information about stated product attributes and its benefits.
| Product Attributes | Resulting Consumer Benefit |
| Personalized learning sessions |
|
| Quantitative subjects support |
|
| Online video calling sessions |
|
| Ability to choose from large pool of tutors |
|
| Immediate response to students’ queries |
|
Price
The price of iTute will be determined by considering the perceptions and expectations of customers into account. For instance, customers are university students who are likely to be depending on family for financial resources and thus they will perceive to avail tutoring services on reasonable rates. Additionally, the price of tutoring services will be defined by considering the cost into account. For instance, the rate at which tutors will be paid will make up the cost structure of iTute. In general tutors take around $35 to $50 for private tutoring session of one hour. However, based on ability to gain access to large pool of tutors, the cost can be kept low.
The tiered pricing system is considered most suitable for iOnline Tutoring, as it will offer different options to customers varying in terms of both cost and services. The three key plans will be offered to customers, including; Basic, Advanced and Premium. These plans offer different cost options to customers, such that they can choose the services and cost which are most suitable for them (Simpson, 2018). The competitors prices are also been considered while designing the tiered pricing of iOnline Tutoring. The competitors’ prices mainly range from $10 to more than $100 depending upon the level of services offered to customers (Studiosity, 2020; Zookal, 2020).
Promotion
Advertising/Media
The following forms of advertising will be used:
- Social media marketing
- Search engine optimization
- Traditional marketing – fliers
Social Media Marketing
The online marketing will mainly be carried out through social media, whereby Facebook and Instagram will be used to approach the target audience. Most of the young students spend their free time on social media, they are likely to search for tutoring services through social networking sites. The engaging content will be uploaded on social media platforms of iTute and 2 staff members will be hired to ensure that they continually and actively engage with customers and answer their queries.
- The group will be made on Facebook, whereby students enrolled in top 20 partnered universities will be approached and invited to join the group.
- Facebook page will also be made and paid aspect of Facebook advertisement will be used to ensure that it can be viewed by students who search for tutoring services.
- An Instagram account will be created and again paid advertisement feature will be used to reach out consumers.
The social media marketing will be carried out continuously, as it less expensive option of promotion. The following content provides examples of promotional material which will be uploaded on social networking sites.
SEO
Moreover, search engine like Google, is considered as credible way for searching the tutoring services in the area. Therefore, search engine optimization will also make up core of iTute promotional strategy. Whenever, students from top 20 partnered universities will search for tutoring services, they will be assured to view iTute at top of their search. This method will be used only at start of semester and will continue until 4th week of semester, showing that it will be implied twice a year.
Traditional Marketing
By using the traditional marketing, fliers will be formed and distributed to students of top 20 partnered universities of Australia. The fliers will posted on notice board, on café site and other places which are visible to students. Additionally, it will also be distributed to students on their orientation day. The example of flier which will be used for promotional purpose can be seen below.
Sales Promotion
- Bonus Packs
- Frequency Programs
Discounts: When any particular student will bring group of friends to pursue tuition services from iTute, then they are likely to obtain discounts on service charges.
Frequency Programs: The frequency of availing services of iTute will serve as an important aspect for future marketing. The students who will use services of iTute repeatedly over their semester will avail loyalty discount on their next subscriptions. The amount of discount is likely to vary for the number of courses chosen by students for tuitions. The frequency program will be promoted through social media. One instance of post is given below.
Place
iTute will make reliance on selective distribution, whereby students enrolled in graduate programs of top 20 universities will be targeted with online tutoring services. Additionally, only selective quantitative courses will be offered to students, which shows that selective placement is used. In terms of geography, both national and international students will be targeted studying only in Australian universities.
The distribution model of iTute can be seen in figure below, which shows that only involved intermediary is the tutor, which will be hired by iTute. There is no third party involved, which shows that it is can instance of direct distribution.
Conclusions and Recommendation
iTute is aimed to offer personalized and private tutoring sessions to graduate students of top 20 universities of Australia, whereby maintaining partnership with those universities. The gap in market exists with respect to lack of partnership of tutoring companies with universities and thus iTute is likely to enjoy more authentic status among consumers. The help will only be provided for quantitative courses to both national and international students. The goals of iTute are to partner with top 20 universities, to increase awareness of students of those universities about iTute and to enhance number of registrations. The tutoring services will be available online and students will be offered an opportunity to avail different pricing plans, by seeking compliance with their underlying study goals. In order to approach consumers, multiple ways of promotion will be used of which mainly digital marketing methods will be implied. It is expected that iTute will be able to effectively attain its stated marketing goals and continual monitoring will be conducted to keep track of company’s performance.
In order to define future course of iTute’s operations, the following recommendations are presented;
- To extend partnership with Universities, such that students of top 50 Universities are being targeted for online tutoring and learning
- iTute can also choose to expand level of its services. For instance, the students can be offered option to purchase text books and to seek assistance with their essay and report writing projects.
- iTute need to expand the placement of its services, by going beyond the boundaries of Australia. From second year of its operations, universities of New Zealand might also be considered for partnering.
If you found this sample relevant and need help in your assignment then,
