Marketing Assignment

Introduction

Monash University Malaysia, the Malaysian campus of Monash University established in 1998, which is situated within the Bandar Sunway Township in Malaysia. It was the very first foreign university in Malaysia. Monash University Malaysia is among a few Monash University campuses and centres outside the State of Victoria in Australia. Monash University also has a centre in Prato, Italy, a campus in South Africa and a research academy in India (refer to appendix 16).

TARGET SEGMENTATION

Marketers are aware of the fact that they cannot cater or appeal to all the buyers or customers in a market therefore it is very important for an organization to know its target market so that it can serve accordingly. In an effort to recognize the target market for Monash University, we will closely examine the suitable segmentations, which are applicable for the school. Normally, Market segmentation is the method of dividing an entire market up into different customer segments. Targeting or target marketing then entails to decide which potential customer segments the company will pay attention to (Kotler, 2013, p. 269)

Geographic segmentation:

Monash University is involved in the region variable. Monash University Malaysia intends to serve both Domestic and International Markets. Malaysia tends to become a centre for Western education to prevent the brain drain since around 0.3 million university educated Malaysians work abroad (Economist, 2011) (refer to appendix 15). Monash serves 6000 students, of which one third are international students (refer to appendix 14)

Demographic segmentation:

Monash University serves people with different ages, ranging from 18-29 and upper middle class income families. Monash University, compared to other universities in Malaysia is relatively expensive, however, since it provides an Australian degree, it is way cheaper than studying in Australia. The fees for Bachelor of Arts in Monash Australia is AUD 26,600 for...