Marketing Plan for iTute

Get Expert's Help on MKT103 Introduction to marketing

1. Marketing Initiative

1.1 Initiative

The insight of online education market of Australia has indicates substantial growth as it was worth of $4billion in 2018 and is growing rapidly at the CAGR of around 8%, thus expected to reach $7 billion by 2024 (Ken Research, 2018). Likewise, the private tutoring market of Australia is worth $1.25 billion with a yearly growth rate of 4.1%. The research of Australia Tutoring Association (ATA) has provided that around 80,000 students in Australia are somehow engaged with tutoring services (ATA, 2020). The demand for online tutoring services is specifically increasing, as fast lifestyle patterns and proliferation of internet of things has made acquisition of online education easier for students (Matthews, Garratt & Macdonald, 2018). 

Based on the growing trend of online personalised tutoring, iTute is aimed to provide innovative and personalised teaching services to graduate students, whereby they will be able to connect with subject matter experts for mastering their knowledge of quantitative subjects. The students will be provided with economical solution and different subscription plans will be provided to them to assure that engage with iTute based on their need as well as affordability. 

2. Goals and Objectives

2.1 Marketing Objectives

The following goals are being chosen to strive for in the first operating year of iTute.

Marketing Objectives of iTute Justification 

1

Partnering with 20 top universities of
Australia to provide tutoring services
to graduate students’ pool enrolled in
quantitative subjects including maths,
statistics, calculus, accounting and
business economics, by the end of
June 2021.

Targeting students from all universities is not possible in first year of operations, therefore top 20 univeristies will be partnered as target market. Additionally, there are plenty of qualitative courses which might be requested by students and iTute currently cannot hire diverse staff for each subject. Therefore, only specific quantitative courses are being choses to assist students. 

2 To increase awareness of iTute by 30%
among both national and international
students, by the end of June 2021. 

Awareness among students will serve as the way to assure growth of business and can help in increasing customer base of iTute. Adoption of different promotional methods will serve as the way to increase awareness among students regarding online tutoring services of iTute.

3 To enrol at least 15% students for iTute
tutoring services from top 20 universities
of Australia, by the end of June 2021. 

Initially, it would be challenging for iTute to increase its customer base and thus efforts will be made to attain the 15% target of its enrolments during first year of operations.

 

 

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