UNE Life Company Paper - 2200 Words

UNE Life Company Paper (Essay Sample) Content: UNE LIFEName:Institution affiliated:Date of submission:Tutor:Relevance of the missionThe mission statement of UNE Life seeks to provide quality services to the consumers of their products so as to improve the business name as part of their marketing strategies. It therefore, seeks to ensure that the consumers of the distance education participate successfully in the activities of the institution on the same basis as the other students undertaking regular courses CITATION Uni11 \l 2057 (University of New England, 2011).SMART objectivesThe University of New England was founded under the university of New England act of 1993. According to the act and its by-laws, the university comprises of the students, graduates, the UNE council and the full time staff.One of the smart objectives of the UNE Life is that it strongly supports strategic planning within the institution. UNE Life has been keen to provide the consumers with an opportunity to be part of the leading and most successful distance education facilities. The institution strongly supports the implementation of some important strategies that will allow the m to reclaim their once held first position of being the best providers of the distance education program.The UNE Life also seeks to provide an institution structure that promotes the sharing of skills and knowledge to enhance progress and development within the UNE Bookshop. The organization has increased the product range for their goods to include that of the sale of second hand products that are usually provided to the consumers at subsidized prices. The organization has also been routinely updating their online catalog to ensure that the consumers get to have all the products and resources available to them according to their different needs.Hierarchy of strategies for UNE LifeA strategy could be defined as important patterns that encompass all the planned objectives of an organization. A strong strategy should comprise of the objective s that need to be achieved, the products and the market that is to be focused on to achieve such objectives and how the resources are to be allocated in the organization. A well developed strategy should have a hierarchy which in the case of UNE Life comprises of three major levels namely; the corporate strategy, the business strategy and the functional strategy. The point of focus for the UNE Bookshop is the functional strategy which focuses on the objectives that need to be achieved for specified products in a given market.Porter's five competitive forces modelThe porterà ¢Ã¢â€š ¬s five forces analysis was a framework that was developed by Michael E. Porter, a professor of the Harvard University. The framework was developed to analyze the various levels of competition within the business strategy development. It portrays the industrial institution (IO) economics to obtain the forces that are important in understanding the intensity of competition that the institution faces in the market. The Porter five forces analysis is used for strategic management CITATION Mic082 \l 2057 (Michael M. P., 2008).Porter developed the five forces analysis for the purposes of complementing the SWOT analysis that had become famous in business analysis. The Porter five forces analysis was to identify all the threats that the business faces. Porter divided the analysis into vertical and horizontal threats CITATION Nad09 \l 2057 (Nadine Anne, 2009). According to porter, competition is the greatest threat that businesses face and thus the vertical competition for businesses are the bargaining power of customers and the bargaining power of the suppliers. The horizontal competition is divided into three parts namely; the threat of new entrants into the market, the threat of established and already existing rivals and the threat of close substitutes for products and services provided for by the business CITATION MdR13 \l 2057 (Hassan, 2013).Strength of the force Force or threat H igh Competitive rivalryThe higher education sector is a very competitive sector especially in the Englandn economy. Very many higher education sectors have been started in the country to provide the students with the knowledge to ensure competitiveness in the market. Competition on the quality of services offered by each institution is growing almost every day. To reduce competition and the competitive rivalry that exists between the institutions, the different institutions choose to partner up and become bigger thus they command a bigger market share CITATION Mic13 \l 2057 (Michael P. , 2013). Medium Threat of new entrantsThe institutions of higher learning have increased in number and each time, more and more institutions are set up in the country. It is easy for new institutions to be set up as long as they comply with the set rules and regulations thus competition is always increasing with every new institution of higher education that is set up in the country CITATION Mic09 \ l 2057 (Michal, 2009). Medium Entry barriers into the marketThe entry barriers of new institutions are limited for new start up institutions in England. When new institutions are set up, the only requirement is that they follow the regulations provided by the government acts regarding institutions of higher learning. It is thus natural for more institutions to be set up in the country for the owners to enjoy profits. Although the demand by consumers is high as they demand for opportunities for higher education, the competition created by the new institutions might end up reducing the quality of education as they focus on getting more consumers instead of the quality of education they provide CITATION Ste01 \l 2057 (Stephen, 2001). Low Bargaining power of consumersThe usage of internet has increased the awareness of the consumers and the interaction of the consumers. This has resulted to a force that makes the institutions have no option, but to set lower prices according to the dem ands of the consumer. UNE Life has been keen to provide goods to their consumers in the Bookshops at subsidized prices of up to 60% of the market price. Macro and micro analysisThe macro and micro analysis comprises of the economic variable that affect the market conditions and determine the marketing activities of the organization. The macro analysis of UNE Life is usually concerned with the business environment that shapes the marketing strategies used by the institution. The focus of the macro economics usually targets specific niche of consumers and companies in the marketing strategies that they use. To create attractiveness in the market for UNE Life, the major components that are usually considered include the demographic factors, socio-cultural factors, economic factors, technological factors, regulatory factors and the natural factors CITATION Mir10 \l 2057 (Miriam, 2010). The demographic environment relates to the percentage of population in the market that comprises of t he niche market for the institution. With the fact that there are many other institutions operating in the same market, then competition for the limited size of the target market is likely to be high. The socio-cultural environment provides for trends in value, attitude, behavior and ethics of the different individuals and business as a whole. The economic environment is usually broad and covers a wide scope in the marketing decisions that are undertaken in the institution. The economic environment provides for the changes in interest rates, income, government spending and policies that determine the money flow in the organization. Such factors usually determine the attractiveness of the organization in terms of the finances and fees that they charge on their customers.The regulatory environment determines the attractiveness of the organization for both the local and multinational firms. Where the regulation and deregulation of the different policies set by the government have power ful impacts on the market, then it is easy to determine the attractiveness of the institution to its market. the different impacts of the regulation process is that it could lead to over regulation which encourages the protection of inefficiencies in the market, restriction of new entrants into the market and inflation pressures within the market which the institution operate.At the micro level, it is important for UNE Life to understand the opportunities that accrue to the institutions the create attractiveness in the market to its consumers. Among the set opportunities in the micro environment include the ability to identify and source out for the different needs of the customers. This provides for customer satisfaction which is one of the major objectives of most organizations. Other identifiable opportunities that accrue to the customers include the identification and prioritization of the target customers, segmentation of the target market and offering benefits to customers to encourage loyalty and repeat customers. To enhance the attractiveness of the organization at the micro level, UNE Life should develop superior organizational processes, resources and resource management systems such that other organization in the same industry would find it difficult to cope with and thus reduce the competition that the organization is likely to face CITATION Mir10 \l 2057 (Miriam, 2010).Segmentation and targetingMarket segmentation refers to the identification of a particular segment within the market where a greater market share is likely to come from and focus on developing such market and increasing their share from such segments. To the market segmentation strategy to be made effective in the institution, then it is important to identify a homogenous segment that could be considered different from the other segments and d...