Market segmentation and potential customer identification
The initial step in addressing the challenges faced by Educational Institutions (EIU) is to clearly identify market segmentation To effectively segment the higher education market, schools must define key segmentation factors that are measurable, accessible, substantial, differentiable, and actionable Measurability is crucial, as it allows institutions to understand the market size and product demand, ensuring that they are targeting a viable market Without a reliable market, the segmentation efforts may not yield the desired results.
Market segmentation and potential customer identification
To effectively adjust marketing activities, it is essential to meet specific criteria Accessibility ensures that the target market can be reached, while substantiality indicates that the market size and purchasing power are sufficient to warrant investment Investing in a market with low profitability is not advisable, as it can waste valuable resources Differentiation is crucial, ensuring that customer segments are homogeneous and distinct from one another Lastly, the actionable criterion highlights the importance of being able to analyze and utilize market information effectively, ensuring that the market segment holds practical value for the school.
Market segmentation, as outlined by Kotler (1988), involves three essential steps First, it requires identifying segmentation variables Next, businesses must evaluate the attractiveness of each market segment and select the most suitable one Finally, positioning entails developing promotional concepts that effectively differentiate the brand from competitors within the community.
Applying Kotler's theory to the higher education market involves segmenting based on geographic, demographic, and psychographic factors Geographic segmentation considers the school's location, students' residences, and population density Demographic segmentation focuses on student characteristics, such as academic performance and economic ability Psychographic segmentation examines social class, personality, and lifestyles For Eastern International University (EIU), the key variables for market segmentation include academic performance and economic ability (demographic factors), along with the students' living locations (geographic factors) Specifically, EIU can target students residing in Binh Duong province, Ho Chi Minh City, and nearby areas.
The target market for EIU includes students from Long An province, Dong Nai province, and other distant areas from Binh Duong province Market segmentation can be effectively achieved through demographic factors, categorizing students based on their academic performance—high achievers versus low achievers—and family income levels, which include high, medium, and low-income families An evaluation of market attractiveness reveals that Binh Duong province stands out as the most appealing segment for EIU, followed closely by Ho Chi Minh City and its surrounding regions.
Binh Duong province Provinces which are far away from Binh Duong is not attractive for
The EIU identifies key demographic segments for the school, targeting students with low academic performance and families with medium to high income levels.
In conclusion, I could identify that the appropriate market segments of EIU are two segments:
Students from Binh Duong province, particularly those with parents employed by Becamex or related enterprises, are well-positioned to engage with EIU Their familiarity with the positive influence of Becamex enhances its role as a key factor in shaping students' educational choices Additionally, these students often prefer to pursue career opportunities in their hometown, making a school affiliated with the largest industrial developer in Binh Duong an attractive option for their future.
Duong presents an appealing opportunity for students with low academic performance but sufficient economic resources to fund their education at EIU This demographic represents the most promising market segment for EIU, as they possess the financial capability to engage with the institution despite their academic challenges.
Group two consists of students from Ho Chi Minh City and the nearby Binh Duong province, representing a significant potential market for EIU due to their proximity to the campus Insights from in-depth interviews with EIU students reveal that this group is particularly drawn to the modern and abundant facilities offered by the institution Additionally, similar to group one, these students generally exhibit lower academic performance but possess at least medium economic capabilities to finance their education at EIU Therefore, group two is identified as the second most promising market segment for EIU.
Brand Positioning
Effective positioning is crucial for establishing the EIU brand within communities According to Ries and Trout, positioning is a fundamental branding activity that creates a unique image for the university, allowing students to differentiate it from other institutions A university with clear and distinct positioning can effectively communicate its identity and values to prospective students and their parents Therefore, developing a clear and unique brand positioning is essential for enhancing enrollment and recruitment outcomes at Eastern International University.
In the process of market identification, I have already clarify that the potential customers of
EIU are students who live in Binh Duong province, Ho Chi Minh City and the vicinity of
Binh Duong province and the students most likely have quite low academic performance
To effectively engage with this market segment, EIU must identify the core benefits that customers seek and develop a targeted positioning strategy that highlights these advantages Insights from interviews with EIU students reveal that the needs and preferences within this market segment exhibit unique characteristics across different student groups.
Students in Binh Duong province are significantly influenced by the presence of Becamex IDC, prompting many to choose EIU for their studies They seek high job opportunities within the province, particularly in the Becamex system, which includes VSIP, Becamex International Hospital, and Becamex Hotel, as well as over 20,000 enterprises in industrial parks managed by Becamex IDC This connection enhances the appeal of educational and career prospects for local students.
Becamex IDC, the largest government-owned company in Binh Duong, attracts graduates from Eastern International University (EIU) due to the advantages of working in the state system and receiving support from the local government Students prefer EIU for its convenient location, offering easy transportation and comfortable living conditions By choosing EIU, students benefit from a familiar environment and can live with their families, reducing living costs and avoiding the need for separate housing.
Students residing in Ho Chi Minh City and the nearby Binh Duong province seek educational institutions that are recognized and accredited by the Ministry of Education.
Vietnam's education and training system features accessible entry criteria, which often leads students with lower academic performance to hesitate in applying to public universities However, these students are frequently drawn to the modern and attractive facilities offered by various institutions, highlighting the importance of campus amenities in the decision-making process for prospective students.
English environment Staying in Binh Duong province is not convenient in comparison with
Ho Chi Minh City However Binh Duong is still closed to their home town Therefore it would be not very unfamiliar and uncomfortable for them to study at EIU
In the market segmentation of EIU, the primary competitors are not well-known public universities, which benefit from government support, low tuition fees, and high entry requirements Instead, EIU faces competition from institutions in Binh Duong province targeting first-tier students, as well as private and international universities such as RMIT and Saigon International University.
FPT, Vietnam Germany University and so forth dealing with students in group two
Group one: Main rivals would be Thu Dau Mot universities, Binh Duong universities,
Vietnam German universities, university of economic and technology
In the SWOT analyzation we could clarify the advantage and disadvantage of EIU in competition with their main rivals in Binh Duong province:
- School of Becamex IDC - one of the country’s largest industrial park operators
- The English environment with at
- New school, low brand name
- Lack of evidence to prove ability in education of EIU
- Lack of experience in brand name least IELTS 6.0
- Cooperation with international universities in America, Japan, England, Singapore…
- Advanced academic program based on requirements from enterprises building
- Binh Duong is an industrial province
- Supporting from the Govrnment and enterprises in Binh Duong province
- The change in demand for studying at universities
- The fierce competition in the market of higher education
- The low quality of input in private universities
- Unfair condition between public and private universitites because of favor from the Government
Group two: Rivals of EIU would be Saigon International University, FPT University, Hoa
Sen University, RMIT, and other private international universities
Evaluate the positioning map we could recognize the position of EIU in their targeted market segmentation of the whole market of higher education:
The tuition fees at EIU are comparable to those of many other international universities, yet the benefits students and their families receive are significantly greater EIU offers low entry requirements, a high-quality English-speaking environment, and excellent job opportunities In fact, the advantages of studying at EIU can rival those of prestigious institutions like RMIT or studying abroad, all while maintaining much lower tuition costs.
In the SWOT analyzation we could clarify the advantage and disadvantage of EIU in competition with their main rivals in Ho Chi Minh City
- The English environment with at least IELTS 6.0, foreign lecturers
- Cooperation with international universities in America, Japan, England, Singapore…
- Advanced academic program based on requirements from enterprises
- New school, low brand name
- Lack of evidence to prove ability in education of EIU
- Lack of experience in brand name building
- Location (Binh Duong provice in comparison with Ho Chi Minh City)
- The change in demand for studying at universities
- The fierce competition in the market of higher education
- The low quality of input in private universities
- Unfair condition between public and private universitites because of favor from the Government
Based on above analysis, I suggested that EIU should clarify their brand image based on the characteristics of their targeted customers:
To enhance its relationship with Becamex IDC, EIU should emphasize the vital role this partnership plays in facilitating job opportunities for graduates in Binh Duong province By clarifying how Becamex IDC supports EIU students in securing employment, the school can effectively communicate the benefits of its programs, ultimately positioning itself as a key player in the local job market.
Duong province The relationship among EIU and over 13,000 enterprises with around
5,000 foreign companies in Binh Duong province is a very advatageous condition to support career for graduated students of the school
EIU provides students with a professional English environment equipped with modern facilities and resources, ensuring they develop the skills necessary to achieve a minimum IELTS score of 6.0 upon graduation.
Therefore they have ability to work in any foreign enterprises.
Adjusting and developing marketing programs
The last phase in generating solutions involves refining and enhancing the school's marketing program to effectively position the EIU brand within local communities and reach target customers more efficiently.
The primary role of marketing programs is to foster an environment that enhances sales and overall company performance For institutions like EIU, an effective marketing strategy can significantly benefit school members involved in the enrollment process, leading to improved job performance and, consequently, better enrollment outcomes.
The current marketing program of EIU appears overly broad, utilizing a variety of channels to promote the school's brand However, many activities lack focus on potential customers, resulting in scattered efforts Additionally, certain communication channels, despite their relevance to brand reinforcement, are not being utilized effectively It is clear that EIU's targeted market segments include students residing in Binh Duong province and those living in Ho Chi Minh City and its surrounding areas.
Binh Duong province is home to students with relatively low academic performance but sufficient economic means to afford their education Consequently, marketing efforts should prioritize targeting these promising students to enhance enrollment and support their academic journey.
The marketing program would be designed to be appropriate and effective in distinct group of potential customers
Group one: students living in Binh Duong:
We know that these students are impacted by the brand name of Becamex IDC They are easily attracted by high job opportunities which Becamex IDC could bring to them
Therefore the marketing programs toward this group should highlight the role of Becamex
IDC as the investor and owner of EIU and the chance which Becamex would bring to students who educated from EIU
Binh Duong province is home to approximately 30 high schools, but not all exhibit the same potential for educational excellence Notably, students at Hung Vuong High School and Nguyen Khuyen High School demonstrate high academic performance, often aspiring to enroll in public universities In contrast, high schools in districts like Ben Cat and Phu Giao may not offer the same level of academic opportunities.
Dau Tieng faces significant economic challenges, making it difficult for students from local schools to afford tuition at EIU Instead of broadly promoting enrollment, EIU should focus on identifying high schools with a substantial number of potential students, such as Ngo Thoi Nhiem, Petrus Ky, and Viet Anh high schools, as well as public schools like Vo Minh Duc, Trinh Hoai Duc, and Nguyen Dinh Chieu By organizing multiple enrollment events at these targeted schools, EIU can enhance interactions with prospective students EIU should also invite these students for campus visits, taking advantage of their proximity in Binh Duong to minimize transportation costs Additionally, leveraging partnerships with Becamex IDC and enterprises in industrial parks like VSIP and My Phuoc can provide students with valuable insights into professional environments, showcasing the promising career opportunities available to EIU graduates.
Group two: students living in Ho Chi Minh City and the vicinities of Binh Duong province
Interviews reveal that students from outside Binh Duong are drawn to the modern and luxurious facilities of EIU They perceive EIU as a promising and international environment, admiring the lifestyles of its students and noting the presence of numerous foreign lecturers on campus.
To attract students effectively, the school should leverage its impressive infrastructure and maintain current enrollment initiatives in targeted regions by covering transportation costs for prospective students to visit EIU It is crucial for EIU to focus on the right audience, specifically inviting students from high schools with strong potential, such as private and international institutions.
EIU should focus on attracting students with strong economic backgrounds rather than those from top-ranking schools in Ho Chi Minh City, as these students often prefer prestigious public universities or studying abroad By clearly defining their target market, EIU can effectively allocate resources and cover the costs associated with inviting prospective students to their campus.
A website serves as an essential and efficient platform for delivering EIU information to potential customers across different groups It is particularly vital for engaging with students from group two, who reside outside of Binh Duong, making it a key marketing channel for reaching this audience effectively.
Visiting schools can be challenging for students, especially during the recognition phase when they seek information to determine whether investing time and money in a visit is worthwhile A website serves as the most effective and efficient resource for accessing school information However, EIU's website has not met expectations, as it is currently lacking in relevant content and has not been updated for an extended period For more details, you can visit EIU's website at http://www.eiu.edu.vn/home.aspx.
Regular updates to the school website are essential to demonstrate ongoing innovation and engagement This platform serves as a vital resource for effectively communicating with prospective students and enhancing the school's brand presence By controlling the information shared online, the school can present positive narratives that resonate with their audience Beyond academic programs and tuition fees, the website should also highlight student life, club activities, and events, creating a comprehensive view of the university experience Additionally, incorporating details about opportunities with Becamex IDC and its partners, such as VSIP and BIH, will appeal to students in Binh Duong province Showcasing images of modern facilities, including state-of-the-art classrooms, sports centers, and green dormitories, is crucial for attracting students from both Binh Duong and Ho Chi Minh City, emphasizing the importance of modern infrastructure in their decision-making process.
In Duong province, schools must strategically present relevant and objective information to potential students, ensuring that their educational offerings align with future career objectives and conditions.
Combining direct enrollment activities with social media promotion is a highly effective strategy for enhancing brand visibility Utilizing traditional media outlets such as television, newspapers, and magazines can significantly boost brand recognition within the community.
In the past, EIU attempted to promote their brand across various provinces, targeting a wide range of students regardless of academic performance or economic status This approach proved costly and inefficient, as social media advertising can be expensive To optimize their marketing budget, EIU should focus on strengthening partnerships with key players in social media, such as Ho Chi Minh TV, Binh Duong TV, Tuoi Tre Newspaper, and Giao Duc.