Your task will be to choose a product or brand (of any type: for example a consumer product or service either fast-moving or durable, a not-for-profit organization e.g. a museum, school, theatre, hospital group the choice is yours) in the UK market.
You need to choose a brand/service where you think a marketing/communications initiative or programme
can strengthen its brand performance or ‘brand equity’.
For example this might be through refreshing or revitalising the brand,
extending it or repositioning it.
Your objective might be in targeting the brand at a new segment in the market, or increasing the loyalty of its existing users.
What i have so far:
Richmond University is a private liberal arts and professional studies university, accredited in the United States and UK. Today the university has approximately 1500 students and staff of 83 people. As a business entity, there is a lot of potential to develop in terms of Marketing, therefore one can would suggest the following programmes and approaches that will strengthen the performance of this entity and growth.
We can start with the Organisational culture, as a university that provides multiple degrees in various fields of studies that should give them the advantage due to the diversification but a lot of times and especially in this entity specifically, this is a possible disadvantage. Too much choice in not a good thing, especially with education there needs to be an expertise in each field that is provided, by expertise we mean not only top professors but equipment, environment and etc. This is not seen or provided by the university for a lot of the courses, as an example in Film Studies. In a way this is tricking in the customers into joining the university and due to the poor performance from the business it leads to dissatisfaction which ends up in bad reputation which hurts the image and results in financial loss. What we are suggesting is restructuring the vision/mission of the university. For example taking the Business school and fully changing it into Entrepreneurial study, concentrate on that area with providing the best facilities, environment and professionals, dominate a niche which has huge potential and relatively less costs in terms of facilities on Film Studies etc. By restructuring this you are not only targeting a new segment in the market but you are also increasing the loyalty the existing customers. The change into this niche market will give you dominance and potential to grow as a business further, with the customers learning about entrepreneurship from beginning and being able to learn and test it from the best provided environment this not only results in creating successful happy customers but brand recognition from the successful graduated entrepreneurs. With a new vision into Entrepreneurial study, the attitudes and behaviours of the employees is going to have to change, the entity will also be acquiring new partners which brings more potential for the future projects and development. Furthermore the communication within the unviersity is going to need an improvement, everything will have to be more accessible and transparent with information and news being delivered faster and more on time, unlike the current situation where it is relatively in a disadvantage.
Another programme that has potential is the area of promotions. If considering the change of the restructure into specialisation in Entrepreneurship there can be contests organised. Contests for business plans and idea development within the university and for the outside customers. This brings a lot of recognition and marketing potential especially with a lot sponsors willing to help and support this cause(Banks, other business schools, etc). Furthermore the contest will be needing prizes, from financial incentive like getting the money for the project to being able to study in the university as a scholarship, further giving the exposure to the university. Also in the area of promotions, special events can be organised, like the current Entrepreneurial Talks for the MBA students but on a larger scale with more guest speakers from all over the world. Business events and talks like TED are very beneficial and the exposure from then is massive, other business entities especially established ones provide a great deal of support and sponsor those types of events. With those promotions the entity is entering a massive marketing opportunity.