Practise explaining marketing objectives, plans, strategies and audits, and evaluate their role in decision-making for IB Business Management SL organisations.
Other operating cost savings were made. However, Adriana decided to maintain PU’s aggressive marketing strategies in contrast to most other universities, which were cutting marketing budgets because of the economic recession. Adriana saw marketing expenditure as a worthwhile investment. The promotion emphasized PU’s achievements both in research and teaching, its services for students, its high levels of student satisfaction and its competitive fees.
Ethical issues PU’s mission statement is based on inclusivity, social responsibility, excellence, perseverance, commitment, resilience, ambition and creativity. The articles governing the university include transparency, freedom of speech and tolerance. Failure to achieve some of these articles has recently been alleged in social media and is now appearing in national newspapers: y A recent appointment as a trustee of the university, Di Jones, is causing controversy. Di is a director of a multinational computer company that is funding some of PU’s IT research. Political activists have discovered that Di is descended from a family that used slaves on their sugar plantation in the 19th century. The activists want her removed from her role. y The student Politics Society has invited a guest speaker who, in the past, has been accused of expressing antisemitic views in one of his books. The society is arguing that freedom of speech should be upheld, while other groups, including students and lecturers, say that the university should not be a platform for intolerant views. y One of the companies funding medical research at the university has been accused of exploiting least developed countries (LDCs) by over-pricing medicine in those countries and selling medicines that have not been approved in the European Union or the United States.
Describe two long-term benefits for P U of its marketing strategies.
Background given in the case study: P U's marketing strategies are "aggressive" (line 60) and P U, unlike its competitors, keeps investing a lot in its marketing ("Adriana saw marketing expenditure as a worthwhile investment", (lines 62-63)), especially in terms of promotion (communicating actively on PU's "achievements both in research and teaching" (line 63) and on its "competitive fees" (line 64)).
Long-term benefits include:
The main anticipated long-term benefit (ie the strategic aim that justifies these marketing strategies) is to get more students (as they are the 'customers' of P U ), both local students (as "many local students have decided to postpone their studies for a year", (lines 52-53)) and international students (as they "pay higher fees to the university than the fees that the university receives from local student" (lines 54-55)). For P U, more students mean more revenue (more income), which improves the cash-flow situation (very important, as PU has "cash-flow problems", as repeated several times, lines 57, 69 and 85).
Other long-term benefits of P U 's marketing strategies include:
- other external stakeholders will be aware of P U's success - stakeholders from the private sector (eg Di Jones who is "director of a multinational computer company that is funding some of P∪ 's IT research", (line 108)), or in the public sector (local and regional politicians, so that they remember P U and keep supporting it);
- attracting new staff to P U, as its intensive promotion indirectly showcases it as a potential employer of choice.
N.B. The question is not about the marketing mix ( 4 Ps , or even 7Ps). If the answer is just an outline of P U 's marketing mix (describing P U 's Product (high quality courses), Price (competitive fees) etc);
award up to [2], as it shows some understanding of marketing, but not of the topic of strategy, nor of the notion of long
term benefits. Likewise, answers about ATL and BTL forms of promotion and answers that use the Ansoff matrix (eg product development: PU offering new courses) may also be partially credited, as they display knowledge of marketing.
Accept any other relevant long-term benefit.
If a candidate provides context that provides a benefit, but the benefit is not explicitly stated, the "second" mark can be awarded i.e. [0] + [1].
Mark as a [2] + [2].
Award [1] for each appropriate benefit identified and [1] for some description and application. Award a maximum of [2] for each benefit. Maximum [4] for two benefits.