Hi, need to submit a 1250 words essay on the topic Strategic Marketing Management.
The market segment of OBC is undergraduate courses, post graduate courses, executive MBA programs and other career based courses. OBC can penetrate more into this segment by adding the number of seats for each of their courses. Through this, they will be able to increase the headcount of their students.
Product Development: Product development is another option for OBC. This consists of introducing new products in the existing markets. OBC currently offers postgraduate courses in Strategic Management, Leadership, Business English Language and General Business Management. Additionally OBC can introduce Post Graduate course in Finance Specialization. Though finance is offered as a specialization option in the general management course, a specialized course like the strategic management and leadership will help OBC to attract new category of students.
Market Development: The third option available for OBC is market development. In the market development stage, OBC has the option to sell its existing courses to the new markets. One way to do this is to attract students from overseas either through direct admissions or through overseas study centres.
Diversification: Diversification is the next option for the company as per the Ansoff Matrix. This involves venturing entirely into a new product offering. As far as OBC is concerned, the primary offering is management education. Diversification does not seem to be a viable option for OBC as it is specialized only in educational sector.
Based on the above analysis it can be said that the possible growth opportunity for OBC are market development and product development. These are the two strategies that can add value to the organization. The best option for market development for OBC is developing countries. Developing countries like India, China, Brazil, etc. are spending more for overseas education in the recent days. This is one opportunity that OBC can utilize. OBC