Marketing Plans and Consumer Behavior
Haversham Business School originated three years ago to assist middle mangers in obtaining executive level positions. Its founders felt certain that there was a viable market for managers pursuing their continuing education.
The owners are well versed at curriculum development, sales, and problem solving. The school emphasizes the upper crust, upper echelon aspects of their training inventory in order to justify the higher fees it charges. To match this theme, the school was located in the downtown high rent district near its professional clientele.
The school survived its first years primarily due to government subsidies in certain industries and company benefit packages that covered work related continuing education. Recently, they have reached a plateau in new enrollees and revenues. Their business plan is very cursory and concentrates on the corporate middle management market.
Recently, Haversham has noticed an increase in inquiries from people seeking assistance in developing basic education skills. Many long time employees have been laid off and realize that they need to enhance their math and computer skills. The availability of skilled teachers has convinced the owners that the school could quickly shift gears and offer a lower cost curriculum in the basic job skills as well as the health and computer fields. The shift hinges on whether the volume of new enrollees can offset the reduced income per student.
The majority of business schools serving the market Haversham is considering are located in neighborhood districts and have long been known for accessibility and affordability.
Taking into account the company’s history , contemplated initiatives and applicable marketing plan concepts, please answer the following questions:
1. Haversham’s initial focus on the needs and profit potential in the professional market represents which marketing plan concept?
- a. Stereotyping
- b. Indemnification
- c. Segmentation
2. Haversham’s specific identification of middle management executive in the downtown district represents which marketing plan element?
- a. Young Urban Professionals
- b. Goal Setting
- c. Targeting
3. Based upon current consumer perceptions and behavior, which of the following entities appears to more readily meet their needs?
- a. Haversham Business School
- b. Other Business School competitors
4. In order to better understand current consumer behavior, which of the following elements should be considered?
- a. Culture
- b. Attitude
- c. Brand Choice
- d. Location Choice
- e. All of the above
5. When Haversham begins to alter its curriculum, offer lower course fees and relocate, it can be said to employ which of the following marketing plan concepts?