Product Line Extension in Institutional Marketing - Essay Example

The college may use this model to attract students from renowned middle-level colleges and high schools, as well as other universities. This is by introducing new academic programs or fields of study in its calendar to allow prospecting applicants to have a variety to choose from when making applications.

An alternative method may be through having a virtual online campus in which the institution can offer its degree programs to students via an online platform.

This fastens student-lecturer communication and fast processing of applications from overseas students. Also, offering full scholarships to talented students and grants to the brightest ones can be an alternative to the above modes. A college may build its reputation as a champion of excellence in this manner.

This model is mainly used to target low-income market segments. The college may introduce short-term courses and part-time classes to cater to the growing population of individuals who have to juggle work and school. These courses may also include tuition fees payable in installments during the semester by students.

Alternatively, partnering with middle-level colleges and opening different campuses can be adopted. These decongest the main campus yet, allow more students to access educational products in the satellite campuses. Lowering the tuition fees on some programs to attract more applicants can also be adopted.

The two-way stretch is a way of catering for the poor and the rich simultaneously. The college may introduce specific courses offered by highly ranked colleges in its programs but at lower fees and flexible entry requirements. This attracts students from poor families who have met the minimum requirements to join a highly ranked institution and those from rich families who have failed to meet the minimum requirements set by the other high-ranked universities. Alternatively, lowering entry requirements and tuition fees for native students, and having foreign students pay higher rates may seem appropriate. Also, the college may decide to offer partial scholarships to poor students and not to the ones from rich families.

This strategy can be used to get rid of unprofitable procedures in an organization. Technology that can positively impact learning is most appropriate in this model. This can be through digital learning platforms that foster interactions amongst the staff as well as within the student population.

Partnering with well-renowned organizations like Apple or Microsoft may provide students with research opportunities within such corporations hence, attracting and preparing them for career opportunities in such companies. This mode eliminates pure theoretical classroom knowledge of procedures and helps students develop organizational skills. Another option would be to come up with informal education programs aimed at enhancing the potential of students like volunteering activities. This can assist in preparing the students to live after campus and help them to be part of the community.