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Recruiting plan for MBA programs in Europe

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by

Mika Lis

on 17 January 2014

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Transcript of Recruiting plan for MBA programs in Europe

BRAINSTORMING
Recruiting plan for MBA programs in Europe
Industry analysis and market positioning (assumptions)
Customer's main parameters:
Ranking of the MBA program
Price
Quality
Job opportunities
National particularities
Five
competitive forces analysis model by Porter - why? Understand the MBA market to then develop strategies:
1. Rivalry among existing firms
Number and balance of competitors
Many MBA programs from private companies and universities (further assessment needed)
Degree of differences between MBA programs (further assessment needed)
Growth rate of an industry (further assessment needed)
Level fixed costs (high fixed costs – further assessment needed)
Conclusion: High rivalry among existing firms
.
2. Threat of substitutes (impact on how high the price is):
There are other programs - Online MBA, PHD, University programs, Company intern programs - research needed to determine if they are substitutes
Buying inclination to substitute, depend on the price elasticity (further research needed) but could be avoided with amenities/innovative programs
Switching costs to other MBA programs vary but are generally low, the industry is growing slowly, brand identification is very high because reputation counts
Conclusion: High threat of substitutes with high brand identification
2. New entrants
The barriers to enter are very high: economies of scale - US accreditation as MBA, high capital requirements, access to universities and schools, legal barriers, accepted in the "MBA community"
Therefore new competitors will likely focus on niche markets
Conclusion: Low risk of new entrants

4. Buyer power (MBA customers)
MBA are the suppliers and potential customers the buyers
Few buyers and large number of suppliers
Buyers costs are low - transparent market
High degree of standardization of the MBA program - Hult has a competitive advantage with it's international focus
No threat of backward integration
Conclusion: Average buyer power: few potential customers and high number of suppliers (further assessment with national particularities needed)
5. Supplier power (infrastructure, partners, universities, teacher)
Medium supplier power (infrastructure, teachers, legal barriers such as diploma recognition)
Low supplier concentration; only a few good universities, teacher and infrastructure
Switching costs are low
Medium risk of forward integration
Conclusion: Average to high supplier power depending on the market

10 min brainstorming
As it’s a mature industry, process innovation and after sale service innovation is needed
Increase ranking in public journals
Intensify partnerships with universities, well known teachers and international leaders
Example: Cooperate with the ERASMUS program; students who study a year abroad usually are also interested in doing an MBA, work with local Career Services
Intensify partnerships with companies – offer MBA programs for employees with a work-education program
Example: Cooperate with Google, Apple and offer a lucrative MBA degree with work and travel opportunities
Intensify programs in emerging markets (China)
Cooperate or acquire start-ups that have a young target audience and will be potential future clients
......

Complement existing marketing activities after
defining additional target audience:
Check if it’s possible to generate a search spider in LinkedIn using parameters determine potential clients; age, education, country --> build an addition customer basis, maybe offer bonuses for old students that bring in a new one in the program
Hult Global Campus Rotation MBA currently “only” has 27’500 views – social media marketing has to be doubled.
Create viral marketing videos
Approach potential customers as soon as possible – use the EF and other partnership databases
Increase marketing activities at the universities:
Example: Coca Cola has launched a campaign in the cafeteria at the university of Zurich with a prize competition – where is the EF or MBA?
Intensify cooperation with student organization AISEC but also new others like “Foraus” or the "Erasmus student network".
Support tandem program at the universities
.......
Thank you for your attention
M.K.
Full transcript