PURSUING AN ONLINE MBA PROGRAM OVER AN ON-SITE PROGRAM: marketing plan to launch a new product or re-launch a current product

PURSUING AN ONLINE MBA PROGRAM OVER AN ON-SITE PROGRAM
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(January 20, 2012)
Pursuing an Online MBA Program over an On-Site Program
1.0 Company Overview
Liberty University which is located in centrally in the state of Virginia is one among the world`s leading Christian Universities and it is well recognized because of the valuable education it offers to students. Its serene and silent environment puts together a suitable atmosphere for learners to study. The chief objective of Liberty University is providing relevant and quality education that can be afforded by everyone and their vision is to bring into being graduates of the world rank such that they can perform in any economic front on the globe (Wankel & DeFillippi (2002). It accomplishes this by offering a wide range of graduate and undergraduate programs which can be accessed by learners from everywhere in the world.
The university is equipped with faculties that are highly skilled and well trained and in addition to that it has a library that is well outfitted, halls used as student centers and laboratories for science courses. Moreover, Liberty University sits on a huge piece of land of approximately four thousand acres hence this environment exposes students to practical work during the period of internship. The University relentlessly initiates new ideas to its academic curriculum so as to accommodate the ever escalating requirements of students all over the world an instance being the beginning of programs that provide acknowledged degrees online at affordable fees.
2.0 Executive Summary of Marketing Plan
A rising number of professionals in business prefer to take home their MBAs via the internet. Well, pursuing a Masters in Business Administration is a huge achievement and many students after undertaking their undergraduate they graduate and carry on to pursue a Masters Degree in whatever field they wish to take (AACSB Accredited Online MBA Program (MBA Anywhere), 2000). This summary of the marketing plan points up the market sectors and the approaches of employing to obtain clientele and craft a solid income stream. The only one of its kind focus is to make available opportunities for the students who want to study and work around the clock but can not manage to go for classes at a campus (Criscito, 2002). A bend that confers the university an advantage over its competitors is providing students with additional alternatives of what is obtainable in selecting from a bigger range of majors. From occurrence, a lot of online universities encompass a very essential assortment of majors in the MBA program.
It will finance expansion for the university in obtaining the funds to hold up the amount of command for majors not appended in a good number of online attributed universities. In addition, by offering consulting services to make studies for the claim of the majors that are required the most by all prospective learners. This marketing arrangement will inquire about the introduction of the new concept of an online MBA program at Liberty University. The institution leads in academics worldwide and is as well renowned for its marketing strategies in Europe, America and Africa which are the target markets.
This market plan seeks to introduce the online MBA program in opposition to the back go down of competition by leading universities that provide the same program and therefore it has emphasized on more than a few strategies to be employed to clump of this competition (Wankel & DeFillippi (2002). Liberty University as well plans to use a number of other marketing policies for instance advertisement and promotion to attain the preferred outcome, additionally a marketing financial plan is and will be applied to guide the fiscal aspect of the sketch. Phases and self-protective strategies to be employed in the accomplishment of the online program are as well emphasized.
3.0 Description of the Target Market
In the present world of business, the worth and significance of clients is not a thing to be ignored or set aside by a company. In deciding on a target market, one ought to determine if the product he or she offers is state-run or global in scope otherwise if it is more probable to sell it mainly in your own area or district. The main market for the case of an online MBA program is national and worldwide since learners from all over the world want to draw closer to the United States so as to study and a market is also there for students residing in the United States but would like to go to learn outside states (MBA: Online Degrees For Business People, 1998).
The minor market is the confined people with families hence they lack enough time to leave their families and go to class at a campus. Some customers in this secondary market are always at work hence can not go to campus also. The new online MBA program aims people of all kind for as long as they have the will to pursue an MBA degree (Jason, 2011). This group may comprise of people of the working class in the society for instance auditors and bankers who owing to the condition of the work they do may lack good time to spare so that they can go for classes. Moreover, it benefits recently employed directors who wish to supplement their knowledge so that they can help their companies compete and run effectively.
The information may comprise of leadership and counseling skills, management and financial analysis. Business people who want to perfect their talent through being educated about new and modern abilities such as market strategies like advertisement and endorsements. Other people that may benefit from this individuals that wish to pursue this degree and are able though they can not afford the high standard of living in the United States, the requirements of VISA or travel expenses. The online MBA program as well targets military officials and officers in the government who work in the management departments or financial department and are getting ready for transition in the field of business marketing.
4.0 Description of Competitors
There are other European and American universities which presently provide the same online courses that compete with Liberty University however Liberty was the first to start offering this kind of program (Criscito, 2002). Due to advanced technology a number of other upcoming universities have followed suite and started offering the online MBA program. Examples of such competitors are Oxford University, Massachusetts, Cambridge, University of Mongolia and Harvard. Mongolia has posed a great threat to Liberty University in view of the fact that many of the learners there originate from Africa.
For the last decade, there has and continues to be a stiff competition locale in the market because many markets for online programs have been on the augment. Despite the fact that more and more people have increasingly kept on enrolling for these online programs and the trend is still the same, competition is still at high level even as a number of colleges and universities come into play with subsidized expenditure. Other institutions provides this kind of education to certain people in the society for instance women, military with active duties including their spouses, the disabled, veterans and students who used to learn in that university so that all these people get attracted to the graduate programs that are offered by the university.
5.0 Description of Product or Service (P)
The major product being provided by Liberty University is this online program for Masters in Business Administration which is as a result of studies carried out online or via the internet. The notes from lecturers are sent to students through electronic mail while the students use the internet to communicate with their lecturers and getting guidance on how to carry out their studies and acquiring know...