Executive Summary
This paper attempts to explain the personal marketing plan about obtaining a degree in the business management field. Obtaining a degree in the business management field can give us with the knowledge and talent needed in today’s global marketplace. If the principal profession aim of the learner is to grow to become a business man or an entrepreneur they must be careful. And Also Obtaining a degree in the business management with Stress on personal marketing will help to provide the students with appropriate business management information, skill required for the management as well as the methods used for marketing etc…these are necessary for achievement in each students individual, educational and specialized profession aims. To achieve this aims learner have to maintain superior educational documentation and required opening to offer the service to its society. Business management is the one of the enduring educational are area that we can see in everywhere. Obtaining business management degree gives us all the essential skills to perform the business function healthy. The importance of target market and external environmental analysis of the business management has been discussed in this plan.
Therefore, the final objective and sustaining personal marketing plan is intended to get the Competent and skilled persons to provide its services to the business establishment. The business management course will provide us to enhance and develop the leadership skills.
Analysis of External Environment
The most significant step which an industry should take to develop the competence of their market is to build up a marketing plan which will direct them to allocate their market assets and time. For this it is necessary to understand about the external marketing environment.The external environment of any business establishment helps to understand the immediate environment as well as the circumstances affecting the development of the condition facing the organisation. By studying the external environment for obtaining a degree in the business management field helps the business establishment organizations to decide what the firm might choose to do for giving the best educational practices to the students. The importance’s of study of business management is emerging nowadays. So in order to cope up with the changes in environment organization must chance according to the needs and wants of the students for giving the business management degree. ” It also occurs when an organization evolves through various life cycles, just like people must successfully evolve through life cycles. For organizations to develop, they often must undergo significant change at various points in their development” (Mc Namara, 2010, para.1). Obtaining the Business Management degree aims to Offer a vast, logical and incorporated learning of the management of the business.
Market Situation analysis
While there is an increasing requirement for teach the business management there is a much more important want the business management institution for obtaining the degree. External environment of the any establishment consist of micro (include customers, suppliers, competitors etc…) and macro environment (it comprise all factors that use a some kind of impact of the plan and proceedings taken by the firm). “The field is both challenging and rewarding: the U.S. Bureau of Labor Statistics forecasts 17% growth in business management positions through 2014 with average salaries ranging from $50,000 to $88,500 a year. Top executives typically earn six-figure salaries” (Online business administration & business management degree programs, 2010, para.3). The foremost pace to attain the productivity in the business establishment is to recognize the efficiency of the current in this field.
Strengths and Weaknesses
Personal Strengths-The strength for obtaining the business management degrees is many. It helps to provide various values our life. Like leadership, being accountable, dignity, problem solving skill etc…Being a service industry it helps to enhance our leadership shill so that the business management honor must be systematic, thoughtful about all information then and then and also the person must be excellent in solving trouble. One of the strength given by the business management degree is that it helps to get the “ability to adapt to nearly any type of environment or a situation, which allows the flexibility to be comfortable talking to the different level of the people” (Strength and weaknesses, n.d., para.30). Business management honor maintaining the degree of dignity over them it will help to increase our positive attitude towards our life. Business management degree helps to enhance our team building skill too. Obtaining the Business Management Degree helps us to obtain a wide knowledge of all areas of a usual business management process working in the present surroundings circumstances
Personal Weaknesses
Weakness must be minimized to increase the strength of the business management honor. One the weakness created due to business management degree is that it creates lot of psychological pressure. Another weakness is that the person likely to be obsessive due to obtain this degree. We should develop our strength to minimize our weakness to overcome the problem raised due to obtain the management degree.
Threats and Opportunities
Threats
One of the threats faced for obtaining the business management degree the emerging competition among the business management institutions. Various small establishments are emerging to provide business education to the students particularly in U S and all. Shortage of practical information is the one of threat faced by the business management degree holder because most of the business institutions are providing hypothetical information to its students. Another threat is that the threat to the business establishment. That is if the business management degree holder must up to date and they must have the knowledge about the ecological change occurring in the surroundings. So that he can adopt a strategy to cope up with this. Otherwise it will affect the overall functioning of the organization. Those who are lived in the rural region they will get only less change acquires the business management degree so this will also become the one of threat.
Opportunities
Obtaining the personal management degree helps to gather both private goal for serving the society and also the leadership skill.There are numerous opportunities to expand valuable networking relations among business management student and the lecture. “Another good reason to get your business management degree is because it is a degree that can be used for a variety of jobs. A business management degree can be used on any type of a business and for any type of management job” (Should you get a business management degree? 2009, para.5).
A business management skill provide various job opportunities in various place.It will helps to increase our value of life as well it will helps to get various rising business talents. Like after obtaining the business management degree it help us to employ the almost all the areas of the business operations.
Gap analysis
It is one of the techniques used to analysis the gap between the preferred results and the present condition. Through this it will help the students to understand what they actually expecting and what the organization is providing. The consumer assess the apparent services of the institute through the projected services if the apparent services of the organization comes under the projected services of the organization consumers are dissatisfied like if the consumers are satisfied with the service they are appropriate to make use of the service supplier again and again. It will help to increase the consumer faithfulness towards the services. So the GAP analysis helps to reduce the gap between these two. “Any organization that wants to be successful must have a structured way of gathering data, analyzing data and doing gap analysis. All important areas should have data collected and then turn that data though statistical data analysis into information. Data in of itself is really not worth very much” (Adams, n.d., para.2). Data collection for the gap analysis can be used for many reasons like various methods also adopted to collect the data in the target market.
Target market
Target market means finding out the entire set of probable customers from the whole population, which may constitute several sections and then rewarding the needs and requirements of each section. Changes have to be brought in marketing approach. Conventional marketing ways have to be replaced by modern approaches. The services have to be provided according to the wishes of the target group. The industry must pay attention on the people who wish to accept their services rather than focusing on the whole population and must expand marketing activities that will help to attain their industry objectives. In the business management establishment it is target to distances study centre, market study firm, revenue zone, non profit zone etc… The students of the business management must more conscious regarding the actual & reel marketplace surroundings so that it will assist the learner assess the concealed skills.
Competition
The competition is a considerable facet in business management; the competition arises from the different management schools in terms of reputation, facilities, teaching methods and expenses. As the job market is considered the tremendous opportunities are for a business management candidate. Candidates have a new world wide open to them consisting of prominent managerial positions. The managerial positions provide good exposure in exhibiting the abilities and skills in business management. “Having an MBA degree gives you countless job opportunities, mostly in top level positions, and can help to further your career tremendously. It can be very rewarding, both financially and emotionally, to see that your talents are making a positive difference in the lives of many people. You get the chance to work for a worthy cause, while at the same time furthering your own career” (Earning an online MBA degree, 2007, para.6).
Marketing strategy
Strategies are the methods to achieve specific goals. The different options are available for market strategies; the selection from the options available forms the choice of strategies. The marketing strategy focus on the subject matter, scope, opportunity and skills that are accessibility, affordable and of suitable standards. The different strategies’ like the social media, social networking, email/internet, radio and public relations act as a catalyst in developing personal market plan. In the personal marketing plan, the person itself is the marketing strategy. The personal marketing strategy is composed of the personal marketing mix (4 P’s), with the objectives/goals and integrated marketing communications plan. The 4 ps of the personal marketing mix are the person, place, price and promotion. The person is as simple as the one who is dealing with the personal plans and it is depended on the strengths, weakness, opportunities, threats, personality and the competencies. The place is the location where the person is planning to pursue the studies. The price can be the estimated value of the plan that is professed by the candidate. The promotion strategies are those that the individual must put into practice to achieve the goal or objective. The goals and the objectives are the tools for measuring the final outcome, the success or the failure can be understood only when the objectives are met by incorporating the short term and the long tern goals. “Really want to think about what measurable goals you can have, such that they are SMART (specific, measurable, attainable, realistic, timely)” (Schawbel, 2008, para.10).
Action programs
The action plans are taken with the main aim of obtaining the business management degree. It depends on the different facts and the queries that are related to them. The action program starts from the analyzing of the aim to the different process that are helpful in achieving the degree and the involves a research being conducted in order to analyze the number of management schools, the facilities, reputation, and the recruitments. The analysis depend on the situational analysis, competition analysis and the audience analysis.
The situational analysis consists of the analyze of the current situation in which the person are into. The different kind of the opportunities, threats that can be faced in the situation and the vision statement, relating to obtaining the degree in business management. The audience analysis is considered it is the different kind of the qualitative and the quantitative analysis of the idea, the different qualitative and the quantitative data consists of the benefits that are to be incurred from the degree. The competition analyses make use of the analysis of the different stream of degree in the education field. “The Action Plan picks up where the Promotion Plan leaves off. Action programs can be formatted in a chart, table, and timeline or in any other way. Programs can be grouped chronologically or by event types” (Marketing plan: Action, 2009, para.2).
Implementation and control
The implementation in any marketing plans consists of strategic goals which are authorities for the maintaining and achieving the goal, by developing the guidelines and identifying the detailed activities. The guideline of the goal is the achieving of the established common metrics. Before the implementation and control the benefits are to be known and the predictable implementation costs are to be analyzed the proper implementation of the all reserves have to be done in making the decision a success. “Implementation is what turns marketing plans into marketing actions. Implementation is the day-to-day activities that will effectively put your plan into action. In your marketing plan you focus on what and why, but in the implementation process you focus on who, where, when, and how” (Milne, 2008, para.2). As the personal marketing plan is considered the candidate analyze about the various management institute based on the reputation and then get advice from the expertise or veterans in the field of management, the candidate cross checks the educational expenses and affordability. Depending on the feasibility the budget is set. The preparation is done by the candidate for the entrance examination as the first step of admission.
The marketing plan should be implemented in a proper manner and for the advancement of the plan the continuous analysis of the arising changes and the evaluation of the plan should be carried out. The obtaining of the opinion from the expertise or the veterans in the field of management helps much in the implementation and the development of personal plan.
Budget
The budget is the distribution of the resources to the different channel control for the better suit and to obtain the much return on investment, The budget will be depended on the channels that are selected which give the requisite results. As the budget is for the personnel plan the channels have to be considered well by the individuals and then they have to maintain the expense required for the plan. The budget can be a success when the proper planning of them is done. A budget and the strategy are the vital aspects in the marketing plan, “A Budget is a plan that outlines an organization’s financial and operational goals. So a budget may be thought of as an action plan; planning a budget helps a business allocate resources, evaluate performance, and formulate plans. The basic process of planning a budget involves listing the business’s fixed and variable costs on a monthly basis and then deciding on an allocation of funds to the business’s goals” (Ward, 2010, para.1). The budget can be accessed at an ease by the academic and the athletic scholarship, the financing of the scholarships contribute to about 90%, The other funds can be accessed from the investments of parents. The budget plan is also aimed to pursue and apply for scholarships to make the available for the business management studies. The budget fro the expenses for business management degree is shown below:
Conclusion
The personal marketing plan give the insights about the complete analysis of the personal mission, vision, objectives, goals and the budget conditions and how they can be translated to the operational objectives for the accomplishment of the goals. To accomplish the career objective the preparation done by the comprehensive analysis from the idea generation to the entry to the management institute. To achieve the reach of the goal the candidate should work hard to get good grades and the take active participation in the curricular activities and workshops. The good exposure towards the practical and theoretical knowledge help the candidate to get through the business management degree in flying colors.
Reference
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Online business administration & business management. (2010). Earn My Degree. Web.
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Should you get a business management degree?. (2009). Business Knowledge Source.Com. Web.
Strength and weaknesses. (n.d.). Ondix. 2010. Web.
Ward, S. (2010). Budget. About.Com: Small Business: Canada. Web.