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July  27,  2010  

 

July  27th,  2010  

         JaberWok  WorldWide      

 

 

 

Villanova  School  of  Business  

Jennifer Fisher – Team Leader

Alyssa Fitzpatrick

Andrew Lomotan

Brendan Murphy

Brandon Pergola

All ison Solberg

 

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Table  of  Contents  Executive  Summary ......................................................................................................................................4  

Marketing  Challenge  Summary ....................................................................................................................6  

Marketing  Objectives ...................................................................................................................................6  

External  Analysis...........................................................................................................................................6  

Demographic  Trends ................................................................................................................................6  

Social  Trends.............................................................................................................................................7  

Economic  Trends ......................................................................................................................................8  

Competitors..............................................................................................................................................8  

Primary  Data.............................................................................................................................................9  

Strengths  and  Weaknesses.........................................................................................................................10  

Strengths ................................................................................................................................................10  

Weaknesses ............................................................................................................................................11  

Target  Marketing  Strategy..........................................................................................................................12  

Segmentation  Strategy  and  Segment  Definition ....................................................................................12  

Segment  1:  “The  Ambitious  Teen” .........................................................................................................12  

Segment  2:  The  “Smart  Jock” .................................................................................................................13  

Positioning  Statement ................................................................................................................................13  

Value  Proposition  Statement .....................................................................................................................14  

Branding  Recommendations ......................................................................................................................14  

Perceptual  Maps.........................................................................................................................................15  

Product .......................................................................................................................................................16  

Business  Fundamentals ..........................................................................................................................16  

Entrepreneurship: ..................................................................................................................................16  

Current  Events ........................................................................................................................................16  

Professional  Success: ..............................................................................................................................17  

Trips ............................................................................................................................................................17  

Please  Note.................................................................................................................................................17  

Place ...........................................................................................................................................................18  

Pricing .........................................................................................................................................................18  

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Tuition ....................................................................................................................................................18  

Room  and  Board.....................................................................................................................................18  

Salaries ...................................................................................................................................................18  

Trips. .......................................................................................................................................................19  

Counselors ..............................................................................................................................................19  

Wall  Street  Journal .................................................................................................................................19  

The  Big  Idea ................................................................................................................................................19  

Promotion...................................................................................................................................................20  

Promotional  Mix  and  Recommendations...............................................................................................20  

Direct  and  Interactive  Marketing ...........................................................................................................20  

Advertising..................................................................................................................................................21  

Public  Relations ..........................................................................................................................................22  

Personal  Selling ..........................................................................................................................................22  

Sales  Promotion..........................................................................................................................................22  

Promotional  Schedule ................................................................................................................................22  

Marketing  Budget.......................................................................................................................................24  

CPM  Calculations ........................................................................................................................................24  

Sample  Advertisement ...............................................................................................................................25  

Bibliography................................................................................................................................................27  

 

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Executive Summary Jennifer Fisher Client: Villanova School of Business Jaberwok Worldwide Competitive Effectiveness Dr. Julie Pirsch, Dr. James Borden

After more than 13 years of a successful Summer Business Institute (SBI), Villanova School of Business (VSB) has decided to expand and create a new summer business program that can differentiate itself from their already well established program. SBI is an involved ten week program catered to non-business students desiring a business minor. To expand market share, VSB wishes to create a new program, which gives us the opportunity to construct a new summer program.

When faced with the dilemma of choosing a target market, Jaberwok Worldwide focused on what Villanova already offers its students. VSB has programs for all stages of the collegiate career from its nationally ranked curriculum geared towards undergraduate students, summer graduate classes, and study abroad programs during the regular school year. It also offers a business minor to non-business students during the traditional school year and through SBI. After much research, we established that most non-business students would not enroll in a summer program that did not offer a minor. Therefore, we decided to tap an unexplored segment of the educational market: high school students. These students, ages 15-18, have a need to differentiate themselves from their peers. More students than ever before are applying to colleges, and entry into prestigious universities has become increasingly competitive.

Some of VSB’s main competitors have already created programs for this niche, but it is not too late for Villanova to take advantage of the market available in the tri-state/Philadelphia area. Boston University, Georgetown, and Cornell all have summer business programs geared toward high school students. Georgetown and Cornell offer minimal college credits, and all programs are between two and six weeks. They are priced anywhere between $3,000 for two weeks to $9,000 for six weeks.

To fulfill this teenage need of differentiation and compete with some of the most prominent business schools in the country, Jaberwork Worldwide has developed the Business Leadership Academy (BLA), a program catered directly to high school students on the path to college. This program targets two types of students: the teen who knows he or she will be applying to business school and the teen who wants to get a taste of the business world before deciding on a major. Our program will give them a peek into the real life world of business that will teach them the basic life skills that all business people need, giving them a competitive advantage both on their college applications and in the real world. The lessons learned at the Business Leadership Academy will be an investment in their futures and will remain valuable for life, teaching them the skills they need to become their generation’s leaders.

BLA is an academically rigorous and exciting three week program in which high school students from all areas of the country can come together and learn the basic business principles needed to become a successful member of society. Students will practice their newly acquired business skills and hone their leadership abilities in an interactive curriculum that places an emphasis on hands-on learning. The curriculum consists of four classes which are each developed to help students achieve their true potential. Similar to SBI’s introductory business course, BLA will offer its own version of Business Fundamentals. Business Fundamentals will focus on the main

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business concepts of Finance, Accounting, Economics, Corporate Responsibility, Management, and Marketing. Business Fundamentals, along with Entrepreneurship, will be held every day. Entrepreneurship is the class in which hands-on learning takes place. Teams of students will put their creative juices to use by creating their own companies and developing a product. Their assignment will look much like the competitive effectiveness project from SBI and will include both a paper and a presentation that describes their product, their marketing goals, and their promotional plans. Professional Success will be held three times a week and will focus on educating students about the real business world. Students will create resumes, practice one-on-one interviews, and learn how to network. In addition, they will get tips on how to write college essays, fill out the Common Application, and look more appealing to their dream schools. Once a week, Professional Success will become a seminar featuring a prominent member of the local business community that can shed light on why a background in business is helpful. Current Events will be held twice weekly and will focus on teaching students how to read and understand the Wall Street Journal and the issues impacting their world today.

BLA will provide housing and meal plans for all students enrolled providing them with a true college experience.

BLA will also offer some weekend getaways to give students a break and let them bond with their peers. The program will offer weekly cookouts and organized sporting events like soccer and volleyball. In addition, BLA will host movie and karaoke nights in the Connelly Cinema. To get off campus, a bus will be provided on Fridays to the King of Prussia Mall and Cinema. Other activities would include a Phillies game, a trip to Six Flags, and a tour of historical Philadelphia.

Our enrollment goal for BLA is fifty students in its first year, and we price this program anywhere between $4,000 and $5,000 per student, a competitive price for summer business programs.

Our promotional strategy involves marketing our program so that teens can access it easily. Our first layer of advertising will entail going directly to where the type of students we’re looking for are: their high school college counselors. We will email several high schools that regularly send applications to Villanova informing them of our program. They will also receive a flyer and brochure about our program. College-oriented teens will also be making an appearance at college fairs and our very own admissions office. By using our excellent admissions counselors as personal sellers, students can get information about BLA from a Villanova source. These counselors will be equipped with flyers and brochures about our program. A flyer will also be in the prospective student package families receive when touring Villanova. Finally, we will take advantage of the thriving online market by creating a facebook.com fan page and placing advertisements on facebook.com. We will also create a webpage connected to the Business school webpage (like SBI) for easy access to information about BLA.

Top Line Marketing Budget $27,000

Advertising $4,797

Public Relations ---

Direct & Interactive Marketing $18,900

Promotions $1,500

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Marketing Challenge Summary Jennifer Fisher

Villanova School of Business desires a new summer business program that is unique from Summer Business Institute, a program that has been well established for thirteen years. SBI is a ten week program that offers classes in Finance and Accounting, Economics, Corporate Responsibility, and Competitive Effectiveness. At the end of ten weeks, students depart with a business minor. SBI primarily targets non-business Villanova students and VSB wants to branch out from this mold to gain a greater market share. They left it up to us to develop a new summer business program.

Marketing Objectives Jennifer Fisher

1. New Segment Penetration • VSB has never before offered a program geared specifically toward high school

students. This untapped segment of the market will be very lucrative for Villanova and will continue spreading Villanova’s reputation as an excellent business school that seeks to reward its students with the best in business education.

2. Extend Brand Awareness • Villanova has an excellent reputation among students already in college, but we feel

that the business school can improve spreading its brand awareness on both a high school level and a geographic level. By offering a high school program, more students will become aware of Villanova’s excellent reputation both in the surrounding area and spreading farther along the East coast (in the short term).

3. Market Share Target • Through our extensive promotional plan, we expect 50 students to enroll in

Villanova’s first year of implementation the Business Leadership Academy. 4. Use the Business Leadership Program as a recruitment tool for VSB

• By showing students what VSB is really all about, students will see how an education at Villanova really is an imperative in the business world. It will set VSB a notch above the competition.

External Analysis Brendan Murphy

The following is Jaberwok Worldwide’s external environmental analysis for the Villanova School of Business to create a new summer program. VSB’s target market has consisted of college and graduate programs, but Jaberwok Worldwide aims to expand VSB’s audience by targeting an untapped segment of the market- high school students ages fifteen through eighteen.

Jaberwok Worldwide first assessed the current market trends for teenagers and high school students. We focused on demographic, social, and economic trends.

Demographic Trends • Teens represent one of the fastest growing population segments. Between 2002 and

2007, the youth population was estimated to outpace the population as a whole by 5% affecting the way businesses market their products and providing a growing teen market (Packaged Facts 2003). This is an opportunity that Villanova has not yet taken advantage of.

• Teens do not identify themselves with any one race or group, making them less likely to conform to traditional group stereotypes (Youth Market 2003). This fact is useful for marketing purposes. We know that we need to market to a broad audience, one that does not depend on groups or race to make decisions. Since Villanova is

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predominantly Caucasian, this could be an opportunity for Villanova to expand its diversity.

Social Trends • Today’s teens enjoy being individuals, becoming their own person and developing

their own interests and talents. This affects the way teens today see themselves in that they are willing to expand their interests as long as they are getting fulfillment (Youth Market 2003). Teens are interested in differentiating themselves, especially high school students who intend on going to college. This is an opportunity that Villanova can take hold of.

• Teens do not have as much brand loyalty as past generations. This affects the marketing strategies of lasting companies who can no longer rely on parents and other role models to work as “walking advertisements” for them (Youth Market 2003). This is likely because of their susceptibility to changing trends and their lack of experience with many consumer products. For example, a student living closer to Georgetown and being a Georgetown supporter would be more likely to consider a Villanova program over one at Georgetown than somebody who is older. They would not be averse to the change in atmosphere. This serves as an opportunity for Villanova because even though some of VSB’s main rivals have high school business programs, it will not deter students from researching and enrolling in the Business Leadership Academy.

• Girls are more likely to enroll in college making those preparing for college, the classroom, and the educated workforce predominantly female (Teens Market 2002). Although it is not recommended to market predominantly to girls, it is likely that the Business Leadership Academy would attract mostly girls. This could be seen as a threat by some students who are looking to find friends as well as an education in the Business Leadership Academy.

 • Teens are less likely to research necessary information in terms of purchases. This I

is a potential threat so we must find specific areas where we can target them and grab their attention before other programs which they may consider to be more convenient because of location or price (The U.S. Youth Market: Deciphering the Diverse Life Stages and Subcultures of 15- to 24-Year Olds).  

 • The newspaper is a teen’s least favorite reading material. Thus, they tend to be less

up to date on current events and may show a lack of knowledge or interest in economics or business. In turn, it may be difficult to convince teens in the program of the importance of reading the Wall Street Journal for the Applied Current Events class of the program (The U.S. Youth Market: Deciphering the Diverse Life Stages and Subcultures of 15- to 24-Year Olds).  

 • Teens have become increasingly more vocal in family spending decisions, often

times regardless of price. This is helpful for a program that will cost a significant amount of money, as parents may be swayed if a child has a significant interest in the program (The Teens Market). Therefore, we need to focus our marketing strategy on the teens themselves while still appealing to parents.  

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• Teens are becoming increasingly focused on career plans at a younger age. A 1997 survey conducted by Drexel University noted that because teens have the option to participate in federally funded programs such as Goals 2000 and School-To-Work, they gained a better grasp of the relationship between education and careers than any other generation since WWII (The Teens Market).  

• More teens are going straight to college now than in previous generations as well. According to the National Center for Education Statistics, 67% of all seniors who graduated high school in 1997 went on to college, compared to 57% in 1987 and 45% in 1960. Because of this increase, Villanova would be able to entice more students to come Villanova through offering a summer business program for high school students (The Teens Market).

• Nearly 75% of all teens use the internet at least four days per week and at least 25% use the internet every day of the week (MarketSource.com). Because or the amount of teens how are “computer-savvy”, and because the number of computer-friendly teens is growing, the internet provides an excellent place to advertise. The most visited websites for teenage boys and girls are Google, MySpace, Yahoo, and YouTube. Girls between ages 15 and 17 are most likely to use social networking sites, making MySpace and Facebook an excellent place to advertise (Teens National Consumer Survey).

• Peer pressure serves as a motivator in purchasing decisions. A student’s peers are likely to pressure one to stay at home for the summer and have fun, rather than participate in academic endeavors (Market Research).

Economic Trends • College discretionary spending has increased. This shows that families are more

willing to invest in education than ever before and colleges have some power over pricing (Youth Market 2003). Parents are more willing than ever before to pay for their son or daughter’s education.

• Teenagers understand the correlation between higher education and higher paying jobs. A 1999 poll conducted by Nickelodeon is conjunction with Yankelovich Partners, a Norwalk, CT market research firm, found that 86% of youths aged 12-17 cited “getting a good education” as very important. In another survey, this one by the New York-based research firm Sputnik, teens name “intelligence” as the number-one thing they would like to possess. Today’s teens are acutely aware of the need for technical confidence as well. A 1999 poll conducted by USA Today, CNN, and the National Science Foundation found that 82% of teens believe that they will need strong computer skills and an understanding of other technologies in order to make a good living (MarketSource.com).

Competitors

• Georgetown University: Fundamentals of Leadership- Leadership in a Global Economy

o Georgetown’s five week program focuses solely on an entrepreneurial project and hands-on team learning. This course offers students three college credits

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and costs $1,043 per credit and $1,471 for room and board (Georgetown University).

• Vanderbilt University: Pre-College PAVE Program o Vanderbilt’s six week program focuses mainly on science but also focuses on

integrating technology and business together to build academic skills in high school students. They use a background in technology as a precursor to a degree in business. This program costs $1,035 per week for students who live on campus (Vanderbilt University).

• Boston University: Business from the Ground Up o This program is offered three times during the summer and consists of a two-

week program that teaches students how to build a marketing plan. This program does not offer students college credit. It costs $3,160 for the program (Boston University).

• Cornell University: The Business World o Students can enroll in three weeks for three credits or six weeks for eight

credits. Their classes include business organization, leadership and human resources. The cost is $5,550 for three weeks and $9,180 for six weeks (Cornell University).

Primary Data Jaberwok Worldwide conducted a survey of 27 students, ages 15-18, titled Jaberwok Worldwide Survey through Survey Monkey.

• 50% of those polled had a GPA between 90 and 100% • 90% plan on attending college • 40% plan on applying to an undergraduate school • 60% cited a summer job as how they expect to spend their time next summer • 50% reported that they would be anywhere from likely to very likely to participate in a

summer program • 55% would participate in a summer program in order to boost their college transcript • 30% believe that a 3 week program is best, while another 30% supported a 2 week

program • 90% said that a summer program in which students stayed on campus would be

most attractive • 70% of those polled were entering either their sophomore, junior, or senior year in

high school

Through our primary research, much of our secondary research has been reinforced. For example, our research shows that a majority of those polled intend on entering college. This also reinforces the notion that teens are focused on their futures at an earlier age. However, research also supported the reality of summer jobs being a serious threat to the success of summer programs.

Our research also gave us new information. 90% of those polled stated that living on campus for a college program would be better than commuting from home. We also found that the

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number one reason for doing a summer program would be to boost one’s college transcript, but also that the majority of those polled intend on applying to undergraduate business programs when applying to college.

Survey One, Consumer Opinion Survey, “JaberWok WorldWide Survey”, 2010.

Strengths and Weaknesses Brendan Murphy

Strengths

• VSB has been consistently ranked in the top 20 of our nation’s business schools. Students who are interested in prestige often look to Villanova. As BLA’s summer competitors are also consistently ranked, this strength means that Villanova is on the same level of competition.

• Villanova never uses TAs to teach classes. This is an important strength to parents and their children of BLA because we aim to provide a real college experience. Villanova has an excellent faculty and we want to use them to show how impressive Villanova truly is.

• Bartley Hall serves as one of the major strengths of VSB. Bartley Hall recently had a

twenty-six million dollar renovation, making the building one of the most appealing and impressive buildings on campus. Along with this renovation, the VSB Applied Finance Lab was built. The Applied Finance Lab is a state-of-the-art simulated trading room that provides students with hands on access to the same data used by Wall Street traders. Bartley Hall also holds five Centers of Excellence: Center for Innovation, Creativity, and Entrepreneurship, Center for Marketing and Public Policy Research, Center for Global Leadership, Center for Study of Church Management, and the Daniel M. DiLella Center of Real Estate. All five of these facilities help students excel and learn about some of the most important topics of business.

Villanova School of Business also has high-tech classrooms. These include 23 laptop friendly classrooms, 6 tiered and wired classrooms that hold up to 60 students and have power and data ports and every seat, and a 130-seat multimedia amphitheater. All of these rooms are designed to help promote positive interaction between students and faculty. Bartley also has a Business Information Center. This is 24/7 “virtual reading room”, which provide up to the minute business information about business law, economics, accounting, and finance. Downstairs in The Exchange is an electronic banner that reports daily stock prices. With all of these resources Villanova Business students are able to be well informed and up to date on valuable business information. These key qualities are what make Bartley Hall an excellent place to hold the Business Leadership Academy.

• Villanova’s location on the Main Line makes it a safe environment for students. Villanova’s Public Safety provides security escorts, proactive patrols of all buildings and grounds on campus, and any off-campus properties, response to medical and other emergencies, fire and intrusion alarm monitoring and response, crime prevention programs, and nightly residence hall security. In addition, the Main Line is a well known place of little crime. Parents will feel safe leaving their children at

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Villanova. Many of BLA’s competitors take place directly in a city leaving children more at risk of crime.

• Villanova’s proximity to Philadelphia offers students an amazing city to explore.

Villanova students often take advantage of the easy access public transportation on campus to go into the city on interviews or out with friends. To be this close to the city offers the BLA a great opportunity in bringing the students to Philadelphia for corporate visits or field trips.

• Villanova’s rate of employment after college graduation is extremely high. Students

know that with a degree from Villanova, they will be able to enter into a top business firm after graduation. This is important to both parents and students because a program from Villanova in a resume or application looks very impressive.

Weaknesses • VSB is often viewed as closed off to students from other schools within Villanova.

Many students’ applications get denied to obtain a business minor, and the SBI program is the only program offered to non-business students. SBI, however, takes ten weeks and a lot of commitment. If VSB offers the Business Leadership Academy, high school students of all interests can come together to learn the principles of business. This program would prove to many that VSB aims at educating all people who have an interest in business, not only those who are strictly business students.

• Villanova’s high tuition fee is also a weakness and forces many qualified applicants to look elsewhere. For this reason, BLA is priced so that it is one of the less expensive high school summer business programs.

• Villanova is often known as “Villa-no-fun” to the outside world. For this reason, we

need to market BLA as both academically rigorous and socially rewarding. We’ve incorporated fun day trips, corporate visits, and plenty of social time.

STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Top ranked business school

Cost Career oriented at earlier age

Other college’s summer programs

Excellent faculty, no TAs

VSB closed to non-business students

Teens are looking to differentiate themselves

Summer jobs

Proximity to Philadephia yet still safe in the suburbs

“Villa-no-fun” Parents are more willing to spend on education

Peer pressure to stay with friends for the summer

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Target Marketing Strategy Segmentation Strategy and Segment Definition Andrew Lomotan

Our product is tailor made to fit the needs of the everyday high school student looking to prepare him or herself for their upcoming future. Whatever major they choose to enroll in, our business program will aim to teach them invaluable skills such as keeping up with current events, recording personal transactional data, and analyzing and predicting the state of the economy.

Because we aim to reach a broad target market, we chose to implement a multi segment marketing strategy. Because high school students tend to be more individualistic, one type of marketing strategy would not work—therefore we needed to differentiate our marketing approach to reach the broadest amount of participants for our program.

Through research and observations we conducted about the demographics that attend Villanova University, we divided our target market into two segments based on who would be most likely to participate in our program. We concluded that these two segments were large enough to warrant a special marketing mix and that they were both readily available in proximity to Villanova’s campus, where the program would be held. We first divided the segments by gender and then used psychographic criteria to further specify our market segment.

Segment 1: “The Ambitious Teen” We identified one segment to be the “ambitious teen,” who we named Lexi. Here, our group saw Lexi as a seventeen year old girl, whose family was in the middle to upper middle class and lived in the tri-state area. She attends a private school and consistently does very well. She is very sure of herself and knows what she wants. She is determined to go to a Catholic university with the same type of values she has learned in her Catholic high school. She is a straight-A student who is involved in the community and in school. When she’s not running up and down the field on her school’s varsity soccer team, she is either volunteering at her local soup kitchen or planning some sort of school function along with the rest of her school’s student government. Both of her parents went to college, which is the reason she constantly wants to better herself. When Lexi’s at home, she frequently uses the internet, going on sites such as Facebook and even doing some online shopping off of American Eagle’s and Hollister’s websites. Lexi enjoys reading magazines such as People and Seventeen magazine. However, Lexi also has a fun side to her. Aside from her schoolwork, Lexi likes to shop at the mall. She likes driving fast down the highway in her Jetta to

get to the mall and shop until she drops. When Lexi shops, she doesn’t just look for what’s on

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sale, she is more interested in the brand of the product than the price of it, which is also her philosophy on her education. Since her parents went to prestigious colleges, she feels the need to do so as well. Even though her grades are above average, she is still worried about getting into the college of her choice. Lexi knows that she wants to go into business but she feels like a background in business would not only interest her, but help her chances of getting into a great college. She’s applying to the best Catholic Universities on the East Coast, where she wants to stay. All these activities she has done in high school were only to differentiate herself from the rest of the pack in order to get into a prominent university.

Segment 2: The “Smart Jock”

The second segment we will target is the “smart jock” named Mike. Mike is a sixteen year old who is not really sure of what college he wants to go to nor does he know what he wants to do when he gets to college. He is the youngest brother of three and both of his older siblings got into the college of their choice. Even though his parents don’t say it, he feels the pressure coming from them to also get into a top college. Unlike Lexi, Mike comes from a working class family, which has taught him to work for everything he gets. Rewards only come from hard work. His dad built up his own construction business from nothing and Mike occasionally works there during the summer. Mike is a public school kid who is well liked by his peers and is a three sport athlete. He plays football in the fall, basketball in the winter, and lacrosse in the spring, keeping himself busy all year round. His grades could be better, but they are still above average compared to his peers. He doesn’t have his own car, but drives around the Ford Taurus that is shared by his siblings. Since he has seen his dad build up his own business by himself, Mike really feels that business is very important in life. However, he doesn’t know if he wants to pursue that in college yet. He is still fairly young at sixteen years old and still has some growing up to do but Mike is very eager to learn new things and prove that he is more than just a “dumb jock.” A program like the Business Leadership Program suits Mike perfectly because he will find out a little bit about the business world and see if it’s really for him or not.

We feel that these two segments are representative of the target market that will be enrolling in our program. Because these two segments are the most identifiable within the area, they deserve a special marketing mix.

Positioning Statement Jennifer Fisher

For high school students who desire to differentiate themselves from their peers when entering the competitive college application process, the summer Business Leadership Academy is a rigorous academic and creative program that introduces students to the business world. Open to students of all interests, the BLA focuses on business fundamentals, entrepreneurship, current events, and professional success, providing students with an innovative, hands-on atmosphere to spread their wings in a corporate environment and real college setting. After completing the Business Leadership Academy, students are more well-rounded individuals who are ready to embark on the next phase of their academic career—college. Students who complete the BLA are set a notch above the competition.

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Value Proposition Statement Brendan Murphy

Attending a program like the Business Leadership Academy shows a drive and desire to succeed. Being willing to give up time during one’s summer demonstrates the sacrifice necessary for success in many aspects of life. A student willing to attend Villanova’s new summer program understands this. By offering students the opportunity to learn about business from real college professors at a top-notch University, Villanova provides participants with an advantage in applying to college and beyond by instilling academic knowledge in a real life college setting. Students make an investment in their futures by attending Villanova’s High School Business Academy. They will make friends, experience campus life, be challenged academically, and place themselves a step above their peers.

Branding Recommendations Brendan Murphy

Villanova University is highly respected in the academic world. Much of this respect comes from its prominent business school. Villanova’s elite status thus attracts many of the finest students in the country. These students have impressive academic and extracurricular records. However, the elite students of Villanova can often give off an elitist front. It is no secret that the bright-colors of J.Crew and Ralph Lauren that flood the campus once the weather is nice can give off a snobby aura. Thus, it is important to do our best to portray Villanova as a place where people of all social and economic backgrounds are welcome in order to attract a greater population of potential students.

Villanova’s basketball team is essential to the recognition of the school’s brand. Because of the team’s history and recent success, high school students are drawn to a place where they can regularly attend high level college basketball games. This is essential to the “fun aspect” of the school because Villanova can offer this particular niche of college life that only a few can match. Villanova also has Greek Life and countless student organizations; all of which attribute to the notion that there is more to do at Villanova than just study. Because of this, any program offered by Villanova should incorporate outside-the-classroom activities, hence the incorporation of fun activities for the students in the program to participate in when not in class.

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Perceptual Maps Brandon Pergola and Brendan Murphy

These perceptual maps are based on summer business programs for high school students and takes into account our developed Business Leadership Academy.

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Product Alyssa Fitzpatrick

The Business Leadership Academy will be a program that is both fun and intellectually stimulating. It will be three weeks long, consisting of four courses broken into three segments. The courses are Business Fundamentals, Entrepreneurship, Current Events, and Professional Success. Students’ days will entail three hour-and-a-half classes, attending two sessions before lunch and one after. They will attend Business Fundamentals and Entrepreneurship every day, but alternate Current Events three times a week and Professional Success twice a week. We expect to enroll approximately 50 students in the first year of the Business Leadership Academy.

• Business Fundamentals Similar to the Summer Business Institute’s course of Business Fundamentals, this course will cover every aspect of business. It will provide a brief overview of Accounting, Finance, Economics, Marketing, Management, and Corporate Responsibility. This will provide students with a general knowledge of common business lingo and the nature of business in our constant changing world.

• Entrepreneurship: Entrepreneurship- the segment where creativity is a must. In this segment, students will have the opportunity to work in teams where they will create an imaginary company. After creating this imaginary company, it is their job to create a product or service which they will have to market on the final day of class through a presentation and a paper. The panel will consist of professionals from many different companies and areas of the market. This aspect of the BLA is much like the Competitive Effectiveness project during SBI.

• Current Events Current Events is a unique but crucial course of this program. One of the most important aspects of this portion of the program, the Wall Street Journal, will educate students on reading the business world’s most prestigious newspaper. The Journal, overwhelming for those not yet in the business world, will not simply be picked up and skimmed over. Instead, professors will establish a clear context of important articles so that students can fully understand each section what is happening in the world around them. Walking through the local magazine store at home, most high school students notice the Wall Street Journal sitting next to the more enticing Sports Illustrated magazine, and instead pick up the magazine. After this program, we hope students will have an interest in learning about the current market and current events because of their newfound knowledge of exactly how to read and absorb the Wall Street Journal section by section. The other aspect of this program is a stock portfolio project. For this project, each team of students will each start off with a certain amount of “imaginary” money in which they are able to purchase stock. The students will compete against each other to see which team’s stocks gained them the most money at the end of the three weeks. Their coaching in the Wall Street Journal will help them create a stock portfolio of companies relevant to them and doing well in the stock market.

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• Professional Success: This course will be more of a “smorgasbord” course, encompassing many different aspects of professional development. This course is modeled after SBI’s Professional Success offering. During these days, students will practice resume creating and editing, interview etiquette, and networking. We will have professionals come in to aid the students in all of these areas. Also, the students will have at least one opportunity to attend a corporate visit of their choice (from the choices we make available). Once a week there will be a guest speaker who will come and talk to them about college and the corporate world. This segment is designed to educate students to become more knowledgeable of the world around them and to allow them to have a leg up on competition of students who may not have resume writing experience or have experience interviewing. The course is a great prerequisite to the ultimate college experience.

In addition, we plan to help students with their journey through the college application process. Admission counselors at Villanova will come in and hold optional lectures where they will walk the students through the common application, college essays, grades, SATs, etc.

All students, regardless of where they are from, will live on campus for the three weeks. After classes each day, small activities will be planned such as kickball, basketball, and wiffle-ball games. Twice a week and every weekend, there will be larger activities planned for the students. These activities will range anywhere from a backyard barbeque with volleyball, to seeing a movie at King of Prussia, going into Philly, seeing a Phillies game, or going to Six Flags. We have taken the costs of these trips into consideration and have budgeted them in our total cost of attendance for the students. Trips:

• Barbecue with volleyball (meet and greet) • Movie in Connelly cinema • Karaoke in Connelly cinema • Meet and greet with the Villanova men’s basketball team • Six Flags • Phillies Game • Movie at KOP • Trip to the mall on Friday nights • Approximately 5 Counselors – expecting attendance of 50 students - $1500 per

counselor To apply for this program, students will be required to submit a one page paper telling why they are interested in the program and what benefits they look to gain from it along with their up to date high school transcript.

Please Note We would love to offer students in attendance a chance to earn three free elective credits for this program, but unfortunately, according to the Dean, we are unable to offer it at this time. In our opinion, by allowing the students this credit opportunity, it will place Villanova a step above other competitors.

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Place Jennifer Fisher To provide students with a real college experience, the Business Leadership Academy takes place on Villanova’s campus. Classes will be taught in Bartley, the impressive Villanova business building where students can take advantage of the Applied Finance Lab, large classrooms, and many of the other amenities Bartley has to offer. Students will live on campus in residence halls to get both the social atmosphere of college and to keep them safe. As safety is a large concern, we thought it best that all students enrolled in the Business Leadership Academy be required to reside on campus. The only times students will be allowed to leave campus is on a counselor watched trip into Philadelphia or King of Prussia Mall for example.

Pricing Brandon Pergola

The pricing scheme developed for our summer program is very developed and has encompassed every aspect of expense that is required to make our program possible. Such factors considered include professors’ salaries, room and board for students living on campus, tuition, trips taken by the students, as well as counselor supervision.

• Tuition Villanova University’s Summer Business Institute cost $8,900 for a ten week program (villanova.edu, business school). This works out to be roughly $890 for every week the students are going to be attending our program. Thus, for the entire three week program the total tuition payment for our three week program adds up to $2,670. This price includes the professors’ salaries, books and calculators, trips, and counselors pay.

• Room and Board Room and board is another very important pricing aspect in the consumer’s consideration of our program. According to Villanova University’s current room and board rates (villanova.edu, office of residence life), sharing a double for ten weeks on Villanova’s campus would cost approximately $2,410. This means that for every week a student is enrolled in our program they would need to pay $241 for rooming. Thus, for the entire three week program the total rooming cost would total $723. Villanova dining services charges $2390 over eighteen weeks for a meal plan containing nineteen meals per week (villanova.edu, dining services). This means that a weekly cost of $157 will be incurred per week for a meal plan containing nineteen meals per week, a total of five guest meals, and a total of ninety points. This works out to be a cost for board of about $471 for the complete three week period. The total for room and board for the three week period would total $1,194 for every student. There are going to be many trips and activities for the students to participate in outside of the classroom which is why all students will be required to reside on campus and pay room and board for the entire three week program.

• Salaries According to national surveys (salary.com) the average median business university professor salary is $87,925 annually. This amount works out to be an average salary of about $1,831 for the average business university professor per week. Our professors will

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be working for a three week period and thus they will be expecting to be compensated in an amount roughly totaling $5,493. Three professors will need to be employed to cover the different classes over the three weeks and therefore a total of $16,479 will need to be set aside for all of the teachers’ compensation.

• Trips The trips that the students will be attending include: Six Flags, a Phillies Game, a movie at King of Prussia Cinema, and Friday nights at the mall. The other significant activities worth mentioning for pricing concerns include a barbecue and volleyball meet and greet, as well as movies and karaoke in Connelly Center. The total estimated funding needed has a fixed cost of $6,400 to be able to complete all of these trips and a variable cost of $200 per student. This amount includes transportation by means of large school buses as well as on campus supplies, equipment, and rooms needed.

• Counselors Five counselors will also need to be considered in our pricing scheme because the students attending our program might need some additional supervision throughout the day and during the evening hours. These counselors will be hired on a salaried basis of $1,500 for the entire three week program and will also be compensated with a room and board package equivalent to the amount of $1,194 as seen above for the room and board rates for the three week program. Thus, the total salary needed to pay all of the counselors for their efforts during the three weeks is $7,500.

• Wall Street Journal The cost of the Wall Street Journal is $1.50 per issue. The students attending our program will need to have access to this newspaper for classroom and general knowledge purposes. The total three week price per student for the Wall Street Journal is $31.50. This amount has already been accounted for in the above amount for tuition.

In examining the above information it can be seen that our three week program is plausible in terms of pricing and cost. The overall breakeven point for the program would be to have at least twelve students enrolled. After the twelfth student the business school would be making a profit off enrollment in this program. A total tuition cost of $2,670 and room and board cost of $1,194 would lead to a total tuition of our program to be $3,864 per student. Finally, our program is very competitive with our competitors who have similar length or style programs (see SWOT analysis for rates).

The Big Idea The Business Leadership Academy, bringing forth tomorrow’s business leader…today!

JaberWok Worldwide aims to secure a niche for the ever growing population of young teens and turn them into tomorrow's business leaders, today. Because we are behind our competition in this market, it is imperative that we tap into this population as soon as possible. In the geographical area of our program, there is no real competition yet. The competition ranges from different metropolitan areas such as the Boston, New York, and DC areas, but none in the Philadelphia area.

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Promotion Promotional Mix and Recommendations Allison Solberg

Since our target audience consists of driven high school students, we’ve created a marketing plan that will cater to them directly, providing them with accessible information that they can easily find in their schools, on Villanova’s campus, or on the web. These steps are effective but inexpensive ways to market to our target audience because we only have to take advantage of the many marketing services Villanova can provide us.

Direct and Interactive Marketing We will utilize direct and interactive marketing tools as our primary means of marketing to high school students.

• Flyers, Brochures and Posters Villanova University offers us an incredible opportunity in marketing the Business Leadership Academy because our target market visits Villanova every day. By placing a brochure in each packet that the admissions office hands to prospective students, students will be exposed to the idea of a summer learning college experience while they are still excited to learn about everything that Villanova offers. With the business school only a few buildings away, they can get real exposure to how the business school works, where their classes would take place, and how living on a campus would provide them with a new exciting summer experience. We will provide 30,000 brochures to the admissions office to be distributed at peak visiting times. Mounted posters will also be displayed in the admissions office and Bartley Hall which will display some quick facts about the program like where students and their parents can find out more information. This aspect of the promotional mix will continue year round and is aimed to target the 48,000 students and families who visit Villanova yearly. We will create three mounted posters for a total of $287.49. Flyers and brochures would also be sent to high schools around the country containing information about the program and where students can find more information. We will target the fifty high schools that send the most applications to Villanova. By informing high school advisors about Villanova’s new summer business program geared toward high school students, these students will find out how they can become more competitive in the college market when they are actually focused on differentiating themselves in front of their college advisor. In a way, the counselors indirectly become our personal sellers. We will provide 6,000 flyers to the high schools. This aspect of the promotional mix will continue year round and is aimed to target 20,000 students. The third area we will place flyers and brochures will be at college fairs. By equipping a Villanova representative with flyers about the Business Leadership Academy, we are once again making this information accessible and easy to understand. As with the high school college advisors, the Villanova representative will become an indirect personal seller. The Philadelphia college fair takes place in October and on average 5,000 students attend. This is the fair we will send out brochures to and we will provide 3,000.

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• Emails In this aspect of the promotional mix, we will use the email addresses that the college fairs and admissions office collect. These emails will provide links that connect the user directly to the BLA webpage. This will target 50,000 students.

• Social Media o Facebook fan page

A Facebook page will be created for the BLA, and students interested in enrolling can become fans of the page. By becoming a fan, students become eligible to win free NovaNation shirts or sports events tickets. Through a fan page, we can remind students of due dates and other important information.

o Facebook advertisement For $20 a day, we can create a small advertisement on the side of a Facebook users screen promoting BLA. This advertisement will run for 120 days between January and May and will cost approximately $2,400.

o BLA Website This website will provide information about the program as well as contact information, application and deposit due dates, and a link to the Facebook fan page. This website will be accessible straight from the Villanova website.

o YouTube contest Students that enroll in the program will be eligible to win a MacBook or iPod touch through this YouTube contest. Individual will pitch a commercial for their favorite product. Two winners will receive these prizes.

Advertising We will advertise in selected magazines and newspapers. They were selected based on availability to the parents of high school students. A sample advertisement can be seen in Picture 4. These advertisements also have immeasurable word-of-mouth benefits.

• Villanova Magazine

Villanova magazine is published four times a year for Villanova’s students, alumni, family, and friends. It has a global circulation of 85,000 and a readership of 275,000 (Villanova University). We are hoping to place our ad at minimal cost considering it is a Villanova University sanctioned publication.

• Main Line Magazine Main Line Magazine caters to the educated, upper class along the Main Line, many of whom support Villanova or are alumni. These people have both influence and the word-of-mouth power, and are usually the parents of growing families (MyBestSegments). This magazine focuses on new developments along the Main Line. Main Line Magazine has 10,000 subscriptions and they estimate their readership to be 70,000 (Main Line Mag). We will place six ads in the magazine for a total of $2,300.

• Main Line Times Main Line Times is the local Ardmore newspaper. We will run four ads for a total of $97.

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Public Relations Our public relations tools will focus mainly on generating publicity through media coverage.

• NovaNotes NovaNotes is Villanova’s alumni version of the Wildcat Newswire. It shows alumni Villanova’s latest developments. A story about the BLA would certainly publicize our program and would promote our program via word-of-mouth to alumni family and friends.

• Villanova Magazine Article Once again, this magazine can be utilized because of its wide readership.

• Local Newspaper Write-ups These newspaper stories would cover the unveiling of our program and could also include a story on the winners of the Entrepreneurial project. Villanova could also send press releases to the winners’ hometowns.

Personal Selling We will set up several informational meetings through the spring semester for potential students.

College counselors and Blue Key tour guides will serve as personal sellers for our program. At college fairs, the counselors will mention our program, providing brochures to interested students. In addition, Blue Key tour guides will be informed of our program so they can mention it upon entering Bartley Hall much like they do SBI.

Sales Promotion As part of the application process, students are required to submit an essay about why BLA would be valuable to them. The three best essays will each receive a $100 gift card to the Villanova bookstore. In addition there will be a Facebook competition where students can create a Youtube video of a new creative advertising slogan or jingle of their favorite company. The video will then be posted on the Facebook fan page.

Promotional Schedule Some promotional tools will be used throughout the year while others only at certain times. A majority of high school students don’t start thinking or preparing for summer until the second semester. That is why Villanova would have heavy advertising after high schools’ Christmas break. However, some promotional tools may be affective and possible throughout the entire year.

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The promotional schedule can be planned as the following:

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Marketing Budget

CPM Calculations  

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Sample Advertisement

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Jaberwok Worldwide has created an innovative educational summer business program that high school students can use to help reach their academic potential and market themselves to the college of their choice. With a background in business from Villanova, students will be equipped with invaluable knowledge that cannot easily be tagged with a price. Our summer Business Leadership Academy will provide students with excellent education in areas of business, stimulating their minds and honing leadership skills. With the Business Leadership Academy, Villanova will:

• Contend with top competitors like Boston University, Cornell University, and Georgetown University for market share of the high school market ages 15-18

• Offer high school students the opportunity to experience college life firsthand • Give high school students the best in business and leadership education

By developing the Business Leadership Academy, Villanova can inspire high school students to enter the business world and lead us into the next generation. Wouldn’t you like to inspire tomorrow’s leaders today?

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Bibliography Fundamentals of Leadership. Georgetown University.

http://scs.georgetown.edu/departments/21/summer-programs-for-high-school-students/about-the-program/faqs.

My Best Segments. http://www.claritas.com/MyBestSegments/Default.jsp. 2010

Packages Facts (2000). The Teens market in the US. Packaged Facts. Retrieved from http://academic.marketresearch.com.ps2.villanova.edu/product/display.asp?productid=1493744&curl=&surl=%2Fsearch%2Fresults.asp%3Fprid%3D811629525%26query%3Dthe%2Bteen%2Bmarket%26cmdgo%3DGo&prid=811629525.

Packaged Facts. (2002). The U.S. Teens Market: Understanding the Changing Lifestyles and Trends of 12- to 19-Year Olds. Retrieved From: http://academic.marketresearch.com.ps2.villanova.edu /product/ display.asp? productid=746398&curl=&surl=%2Fsearch%2Fresults.asp%3Fprid%3D811629525%26query%3Dhigh%2Bschool%26cmdgo%3DGo&prid=811629525.

Packaged Facts. (2003). The U.S. Youth Market: Deciphering the Diverse Life Stages and Subcultures of 15- to 24- Year Olds. Retrieved from http://academic.marketresearch.com.ps2.villanova.edu/product/ display.asp? productid=853274&curl=&surl=%2Fsearch%2Fresults.asp%3Fprid%3D811629525%26query%3Dhigh%2.

Pre-College PAVE. Vanderbilt University. https://pave.vanderbilt.edu/ayindex.php. 2010. Summer Challenge Program. Boston University. http://www.bu.edu/summer/high-school-programs/summer-challenge/. 2010. Summer College. Cornell University. http://www.sce.cornell.edu/sc/programs/index.php?v=108&s=Overview. 2010. Villanova Magazine. Villanova University. http://www.villanova.edu/communication/publications/magazine.htm. 2010.