Marketing Plan Summary on Motiv8me
The following assignment is a Marketing plan on Motiv8me, which was done for one of our client. The marketing plan is an in detailed plan that was done in order to give a clear overview about the company, it’s structure, market oppoortunity, strategies, pricing and so on.
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Marketing plan
Introduction
University is an exciting time in a person’s life, but that excitement can unfortunately turn into dismay if not managed correctly. The demands of teachers, assignments and subject content struggling for priority over friends, family and social commitments may leave students regretting their choice to enrol in higher education. Motiv8me wants to help those students by teaching them self-discipline to prioritise their university commitments, holding them accountable to their studies and motivating them by providing easy to manage steps to follow.
Motiv8me employs dedicated coaches and time-management assistants to keep first year university students accountable while teaching them the skills to easily focus and prioritize their university studies. Having a company on hand to assist students in developing strong motivation and selfdiscipline skills while keeping them on track will not only help with their studies and reduce dropout rates but could also help them avoid negative mental health issues associated with high levels of stress and anxiety.
Goals and Objectives
- Approach all 43 universities Australia wide within 3 months with detailed service and support offerings and request partnerships
- In the following 6 months ensure all staff and students at partnered universities are aware of services and support offered by speaking at group events twice yearly and advertising using fliers and student noticeboards
- To safeguard greater support for clients, re-evaluate student:coach ratios every 6 months and ensure they don’t exceed 50:1
In keeping with these goals, Motiv8me has the highest chance at growth while ensuring the quality of the service offered isn’t lost.
Target Market
Demographics
- First year university student
- Income earners or with parents willing to provide disposable income
- Generation C or ‘Tech Savvy’ students
Psychographics
- Over achievers or students who take on more than they can do
- Busy lifestyles
- Students with goals after university
- VALS framework types – Innovators and Achievers (see Figure 1 below)
- Social and friendly
Behavioural
- Students who leave study to the last minute but then put in a lot of effort
- Large friend circle
- Places priority on social engagements
- Likes to be given a plan with steps to take
- Takes pride in completing tasks
Geographic
- Australia wide
Marketing and brand dimensions
- Makes decisions based on emotion
- Stays loyal to a brand if results continue
- Uses smartphones and internet-based apps regularly
Motiv8me is tailored to benefit first year university students who are goal orientated but commit to more than they can always achieve. They keep themselves busy with a variety of social engagements and classes but like many others, may be forced to find employment whilst still at university due to increasing costs of living (Ryan, 2018). Young and driven with too much on their plates, these students are forever on the move and may need help in getting organised and staying on track.
Positioning Strategy
Motiv8me differentiates from most of its competitors by working closely with the customer and offering personalised plans specifically for their individual requirements. In addition to providing these unique plans, Motiv8me also keeps the student on track my continuing to motivate and coach daily. In doing so, the risk of falling behind in course content reduces and students can learn how to:
“Beat the Stress!”
In the positioning map below, you can see Motiv8me is more expensive than other offerings but the personalised service it offers will be perceived as more value to its customer base. In focusing on the individual customer and personalising their service to match their needs, Motiv8me will always be exactly what the customer needs. While Trello offers checklists and plans (trello.com), its up to the individual to be motivated enough to follow though. Life coaches are very similar in offerings compared to Motiv8me (nationalcoachachademy.com) but are not tailer made to assist in the life of a student.
Positioning map
Marketing Mix Strategies
Product
Motiv8me is a student’s own personal assistant on hand to take the stress out of university schedules. On signing up students provide Motiv8me with their class schedules, course content, assignment dates and all other relevant information. Motiv8me then creates easy to follow segmented steps and manages students time to ensure they stick to their agreed upon schedules and stay motivated throughout the year. In addition to helping students plan their time, Motiv8me also teaches the skills they may be lacking to continue their success after university, is available to give students motivation tips instantly using an online portal and co-ordinates student-centred learning groups between members of the same universities.
To be available at any time and to appease the target market as mentioned, Motiv8me with take advantage of available technology. Both desktop and mobile websites will enable the customer to view their schedules or contact their assistant whenever they need motivation. Customers will also receive daily emails outlaying their tasks for the day which they can check off once complete. Motiv8me will make weekly contact with their customers to gather feedback on the previous week to ensure any issues are fixed for the following weeks tasks.
Price
When setting the price on a new business offering, considering the costs first is one of the most important steps to take (business.gov.au, 2019). In addition to wages, other fixed costs such as marketing need to be factored in before a sell price can be determined. It is then that Motiv8me can offer a thoroughly research price to the market. Motiv8me will offer its yearly membership for $30 per week as a base rate. In addition, customers will be able to receive a discount on referring additional customers as further discussed below.
Customers
Students are on tight budgets (Ryan, 2018). With the rising cost of living and the high price of university studies, a lot of students need to fund their studies by working in 1 or more jobs. Having the stress of work schedules intertwining with university life can result in some students forgetting important deadlines or pressure placed on their mental health.
For the cost of an average 1 hour tutoring session per week (payscale.com), students can enlist the services of Motiv8me to take the stress out of their day to day lives leaving them time to focus on their study, work and peace of mind. As an added bonus, if customers refer an additional 5 people who sign up for memberships, their fee for the remainder of the year will drop to $25 per week.
Competitors
All Motiv8me’s competitors offer fixed products or services with fixed rates. In offering a variety of services alongside a discount fee structure, Motiv8me will experience steady growth while appealing to the target market.
Promotion
To reach the young target market as described throughout, it is recommended that a strong presence is kept online and around university campuses. Using Facebook advertising in conjunction with fliers and notices placed in social situations such as noticeboards, coffee shops and libraries will keep the service front of mind and help Motiv8me gain brand recognition amongst students. Once students start coming on board, the discount fee offer will help word spread.
The business owner will visit all major Australian campuses every 6 months to be available to answer any questions while ensuring advertising is fresh and noticeable. In keeping a regular presence on campuses, mutual business relationships with counsellors and office personnel can result in additional referrals.
Place
Motiv8me will penetrate the whole Australian University market by using both direct and indirect methods. In the absence of a physical presence on campus, Motiv8me will rely upon the word of mouth and referral business generated by school staff and past and current customers.
As the company will be based online, a lot of focus is to be placed in ensuring all platforms look uniform. In doing so, Motiv8me will look professional and instil confidence in the customer (Raza, 2018). On the occasions staff will be visiting university campuses face to face, a similarly branded uniform will be worn to familiarise students with the Motiv8me brand.
Physical Evidence
The following will be sent to customers upon signing up as added value. All items are branded to raise awareness amongst the customers peer friend groups and invoke conversation. Customers will also receive a referral form pass on to their friends and in doing so, have the opportunity to earn a discount on their fees while promoting the business to their friends.
Conclusion and Recommendations
Considering all the research undertaken in the Opportunity Analysis it is clear there is a gap in the market specifically for busy and time poor students to help manage their increasingly stressful lifestyles. Motiv8me has developed a plan to assist those students and help them become the working adults they aspire to be by offering support when they need it most.
The company has developed clear goals to follow ensuring customers receive the assistance they need, when they need it while incorporating systematic ratios to follow so nothing slips through the cracks. It is recommended that Motiv8me me internally audits its employees on a regular basis to uphold the high quality of service it will need to continue growing as market leader. It is also highly recommended that a greater focus in future years is placed on speaking at high school events to reach students before they start at university.
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