UNIVATIVE_Business_Proposal_FINAL

Univative 2013 NSW T&I – Macquarie University

Univative 2013StudyNSW

Proposed Business Plan

Prepared: [15/07/13]


Table of Contents

Business Plan Summary.....................................................3The Business............................................................................................3The Market...............................................................................................3The Future................................................................................................3

The Business.....................................................................5Business and Registration details............................................................5Visual Depiction.......................................................................................5Management & ownership.......................................................................8Products/services.....................................................................................8Key Benefits.............................................................................................9Innovation..............................................................................................10Insurance...............................................................................................10Risks and Evaluations............................................................................10Legal considerations..............................................................................12Operations.............................................................................................13

The Market......................................................................10Market research.....................................................................................14Target Market........................................................................................15Your customers......................................................................................15S.W.O.T. analysis...................................................................................17Your competitors....................................................................................18Advertising & sales................................................................................19

The Future.......................................................................20Vision statement....................................................................................20Goals/objectives.....................................................................................20


Business Plan Summary

StudyNSW

We aim to increase the attractiveness of NSW as the primary destination for international students to study in. Additionally we aim to increase satisfaction levels of international students currently studying in Australia for the ultimate purpose to increase awareness of NSW as a state, and increase revenue from the intake of additional participants.

The Business

Business name: StudyNSW (Online web portal)

Business structure: Long term project

Date established: 15/07/13

Business owner(s): NSW Department of Trading and Investment

Products/services: Online web portal, tablet enabled

The Market

Target market:

Future and current and international students, parents and agents.

Marketing strategy:

The product itself will market directly to all stakeholders. Education agents may utilise this portal and act as the intermediation between prospective students, their family and StudyNSW, resulting in direct selling. Utilising social media effectively enables product awareness amongst the target market. Advertising such as public signage present in key target markets furthers product awareness and the willingness to try. Furthermore positive public relations through retaining NSW’s reputable image for quality education and engaging in international exhibitions and trade shows collaboratively build a robust and resilient marketing strategy, enabling NSW to develop a robust and resilient marketing strategy in the market for international education.

The Future

Vision statement:

StudyNSW will be the number one destination of choice for international students. NSW aims to provide international students with an invaluable social experience; enable the development of leadership skills, which further supports globally recognised qualifications.

Goals/objectives:

The goal of the StudyNSW website is to provide a reliable source of information for students considering studying overseas. The desired outcome is an increase in the number of international students enrolling in courses offered by education providers in NSW. The website will also provide useful information about


accommodation, safety, banking to increase retention of existing students. This is considered equally important as student satisfaction is believed to correlate with positive student testimonials that are critical to encouraging future students back home to follow the same path.


The Business

Business details

Products/services: A web portal, tablet-friendly.

Registration details

Business name: StudyNSW

Date registered: 15/07/13

Location(s) registered: New South Wales

Business structure: Temporary Project

Domain names: studynsw.gov.au

Visual Depiction


Management & ownership

Names of owners: NSW Trading and Investment

Products/services

Product/Service Description

StudyNSW Website, computer tablet-friendly


Market position:

There is no current website that promotes NSW as a whole as a destination for international students. In comparison, Victoria and Adelaide have a strong Internet presence.

Unique selling position:

We aim to have 4 main points of differentiation in our product to distinguish ourselves from both international and domestic competitors:

1. Interactive Study Plan2. Cost of Living Calculator3. Preparatory Checklist4. Social Calendar

The StudyNSW website is the official NSW government website for international students. It provides clear, current, comprehensive, reliable and unbiased information. The point of difference is its interactive tools, such as the Study Planner and Checklists, which engage the student’s attention and offers personal service.

Anticipated demand:

The goal is to maximise the number of visitors to the StudyNSW website. There will be an initial period and then benchmarks will be established. Subsequent evaluation will use these benchmarks to measure the success of the website.

Value to customer:

The StudyNSW will help future students decide what to study and where using the innovative Interactive Study Planner. They will also find helpful other tools such as checklists, budget calculator, and travel planner. The events calendar will allow education providers and other stakeholders to share with student’s events of interest. This will increase both current and prospective student’s engagement within the wider community.

Growth potential:

The increase in internet penetration in the growth markets of China and India would indicate that the development of the StudyNSW website is critical and most effective channel of promotion.

Key Benefits

1) International students: International students can get tailored and reliable information from the website about studying in NSW. They can use the interactive tools and know what it is to live in NSW as international students even before they arrive here. Since our website shows the “journey in NSW as an international student”, it will enable students to be more focused and assure their belief that choosing NSW as their destinations is a good decision (not monetary but emotional support). It


will benefit international students to improve their living in NSW by adding feedbacks in the portal which can be addressed by the NSW government.

2) The NSW economy: The portal can enhance NSW economy by attracting students to NSW education providers. The portal can also increase the NSW economy through marketing of the education provider in the portal. This will be mutually beneficial (symbiotic) to both NSW government and education providers. As the portal also focuses on regional NSW, students who choose other states due to funding reasons can be attracted to NSW if the cost is comparable. This would ultimately benefit NSW economy.

3) NSW education providers: The portal directly benefits NSW education providers as they can interact with some future students through the portal. This would result in bringing students to their institution. Further, it will provide a platform for them to market themselves globally. Not only this, some education providers who do not have the strategy of direct marketing (through university representative or agents) can greatly be benefited.


Innovation

Research & development (R&D)/innovation activities

The StudyNSW website will feature the Interactive Study Planner. This tool encourages the student to respond to simple questions and then provide recommendations for which education providers to consider. The purpose is to help the student clarify what is the most suitable option to consider. It also provides the student with education provider profiles that they can print, save, and share with others such as parents and friends. These profiles will include a description of the education provider; list its facilities and services, and other features including distance from public transport, accommodation options, shopping.

Intellectual property strategy

There will be a patent on the particular model that we are attempting to implement; the domain will be registered in direct lineage with government policies and laws.

Insurance

Professional indemnity: The information provided will be kept clear, accurate and up to date in accordance with the NSW Trade and Investment staff.

Product liability: Any points of consideration and information available online will be subject under the Civil Liability Act 2002. As a branch of the NSW government it is imperative to exemplify professional standards in having our product well maintained, consistently accurate and accessible.

Business assets: There will be secondary servers used for reserves in the event of site maintenance, overloading or unforseen severe disruption.

Business revenue: It will be funded through government budgets set out by the NSW annual report. An expected steady cost of $25,000 per year will be assumed.

Risks and Evaluations management

Risk Likelihood Impact Strategy

Appreciation of the Australian Dollar

Unlikely High Emphasised marketing upon non-financial benefits of studying in NSW.

Highlighting the non-monetary of studying in NSW

Student safety issues Likely HighTravelling tips, recommendations and up to date advice

Increased competitiveness in the market for international education

Very likely High Increase in direct marketing

Shortage of affordable Likely encourage private


student accommodationdevelopments of student accommodation

1) Strategic Risk: The website may be deemed dysfunctional due to some sort of poor implemented process, and have an inadequate amount of user traffic.

2) Business Environment: The economy may fluctuate against favour of international students willing to study overseas in general, thus affecting NSW as a state.

3) Investor Relations: Universities may not feel that the website adequately markets their university and may pull away from the inbuilt features that we have expressed.

4) Financial Risk: Reliance on domestic transactions of money may prove to be detrimental if the Australian dollar proves to be too strong, disincentivising prospective students.

5) Operational Risk: With continual use of the website the lack of a concrete forum, this may lead to less repeated use or reason to return.

6) Compliance Risk (Legal Risk): Harsher Visa requirements and other legal barriers to entry may deter future study plans.

7) Other risks: There would be different risks like natural disaster (floods) and others depend upon the nature and scale of the industry.

Evaluation Considerations

Evaluating the StudyNSW portal will entail several aspects. First being its attract ability and web site traffic (number of page views). The criteria used to then evaluate the website will address:

1. First impressions2. Navigation3. Content4. Engagement5. Speed6. Browser compatibility

These will be determined through user satisfaction surveys. A continuous analysis of competing portals and up to date information will ensure StudyNSW remains competitive.

Legal considerations

Laws regarding Visas (Information available in web portal)

Under Australian law, application to the states and territories are uniform in accepting international students for study.


Under the Migration Legislation Amendment (Student Visas) Act 2012, the Student (Temporary) (Class TU) visa comprises 8 subclasses. Subclasses 570–576 are based on the education sector of your main course. In relevance to this product the following three subclasses come under scrutiny:

Vocational education and training (VET)(Subclass 572) Certificate I, II, III, and IV; VET diploma; VET advanced diploma.

Higher education (HE) (Subclass 573) Bachelor degree; associate degree; graduate certificate; graduate diploma; HE diploma; HE advanced diploma; masters by coursework.

Postgraduate research (Subclass 574) Masters by research degree; Doctoral degree.

Laws regarding entry and protection of tuition (Information available on web portal)

The Education Services for Overseas Students Act 2000 (ESOS Act) and related legislation is designed to protect the interests of students coming to Australia on student visas. The legislation aims to protect and enhance Australia’s reputation for quality education, to provide tuition protection and support the integrity of the student visa program.

Relevant clauses include: the registration process and obligations of registered providers, the Tuition Protection Service; and enforcement and compliance powers.

Impact of future changes in laws and policies

The Australian Education Bill 2013 attempts to establishes goals for Australian schooling; and provides for: grants of financial assistance to states and territories for schools; recurrent funding for participating schools; recurrent funding for non-participating schools through national specific purpose payments; capital funding, special circumstances funding and funding for non-government representative bodies; approval of authorities and bodies to receive Commonwealth funding; implementation plans.

It will have a positive effect in funding of this website and increases the chances of its viability and sustainability due to an increase in economic resources.

Operations

Production process

Web portal product will be contracted to an outsourced IT web developer. The contract will specify also a tablet-friendly version of the website.

Technology (Software):


Regarding the web portal, we will use a traditional HTML template for ease of use and reduced computer specifications to access our site.

Communication channels:

There will be links via Twitter, Facebook, and online email subscription and interactive calendar.

Memberships & affiliations:

In conjunction with all the universities in NSW we will provide in-depth affiliations and marketing to the extent of interactive tours, city of Sydney map directories and other government agencies in ease of access for information. Private links will be available where appropriate, e.g. Seek for internship opportunities.

Additional use in Google maps for the interactive map and cost of living calculator will be incorporated into our design.

The Market

Market research

In 2011, of the 557 425 international students studying in Australia on a student visa, NSW’s export of international education comprised of 208,847 students. 37.3% of national international student enrolled in Australia.

The value of Education as an export for NSW in: 2009/10 $6.396 b.


2010/11 $5.731 b.

2011/12 $5.508 b.

In 2010-11, export earnings fell by over $900 million, -3.9% annual growths due to:

1. Strong Australian dollar 2. Threatened reputation linked to 2009’s student safety issues3. Tighter visa restrictions4. Competitive market for international education

Year ended 2012, NSW received 41.6% of international student visitors.Mainland China (25.2%) was the largest source market of international student visitors to NSW. The USA (8.7%) was the 2nd largest, followed by Japan (7.7%).

Mainland China (32.3%) contributed more international student nights in NSW than any other source market. Korea (7.1%) was the 2nd largest contributor, followed by Japan (5.1%).

International student visitors to Australia: ‘Sydney’ (44.3%) was the most visited region. ‘Melbourne’ (35.7%) was the 2nd most visited region, followed by ‘Brisbane’ (16.6%).

The Internet, at 39.0% most popular information source used before the trip to Australia by international student visitors who had been to NSW.

A number of international students were approached at an on campus function at Macquarie University. They were asked why they decided to study in Australia. A majority said that they had heard about the university through agents and university representatives before they even knew it was located in New South Wales. This finding suggests that it would be valuable to help education providers promote themselves. The success of the StudyNSW website is partly dependent on the support of the various stakeholders that would direct prospective students to the website as a source of reliable information.


Target Markets

Following this graph: Chinese, Indian and Korean international students, but not limited to the above countries. We are targeting both current and prospective students that are looking to study abroad in Australia at both University or TAFE/VET studies, and attract them to NSW in particular.

Your customers

Customer demographicsOur customers entail international students and parents who have an interest in studying abroad. Such customers come from rising middle and upper class backgrounds that value the importance of education. There is belief in the greater value and experiences of attaining globally recognised qualifications.

Key customersThe key customers originate from emerging economies that are experiencing a rapid growth in income levels. These economies include: China, India, and Malaysia

A user of the StudyNSW website will be able to subscribe to email notifications about visa changes, safety tips, money and reminders about special events like an event to officially welcome international students by the NSW premier. The information will be current and reliable. It will also encourage users to return to the website to see what is new.


S.W.O.T. analysis

Strengths Weaknesses

Quality reputation.

Official government website.

Australia's largest city, Sydney 4.6m people (2011), subsequently, constant activity, a better nightlife - better opportunity for socialising.Australian's breathe some of the cleanest air in the world, according to an international survey of nearly 1,100 cities by the WHO. (Sep, 2011).

Limited advertising budget, may struggle to get much exposure in a media-saturated environment.

Melbourne is still ranked fourth in the world in the first global grading of major international student cities by the London-based QS organisation (ahead of Sydney).

Opportunities Threats

Developing economies are increasing the market considering international study.

Continual increase in internet penetration means more of the population is able to access such a website.

There needs to be a direct link from StudyAustralia to StudyNSW.

Emphasis on regional NSW - for example, Newcastle, Wollongong.

Australian dollar, tighter visa restrictions, negative word of mouth, international competition.

Insufficient effort in marketing the portal.


Your competitors

Competitor details

Competitor Value to customers Strengths Weaknesses

Study South Australia (Adelaide)

Multitude of languages

Students in Adelaide – testimonial videos from Chinese, Nepalese and Filipino students make up a large part of the page – this adds the benefit of targeting.

Website is designed in a manner that it will fit seamlessly and nicely into all screen type. It modifies the formatting based on what position you have it in.

4 drop bars with 'hook' elements"the Nobel Prize Capital""Australia's affordable city""Working in Adelaide""Australia's friendliest city"

Not all information is available at a glance.

Study Queensland (Brisbane)

Big focus on the students - 5 stories available at top of page.

Brisbane offers a guide to International Students in Brisbane in paperback and digital form.

Clear Testimonials on the home page.

No international student testimonials.

In terms of the International Students guide made extremely clear on the home page of the website unavailable BEFORE they arrive.

Navigation requires you to travel through several pages to get to a location of interest – inefficient and daunting for international students.

Study Victoria (Melbourne)

Student stories are included with the welcome and the news and events.

Many labelled drop bars with sub labels making everything very easy to find.

Melbourne recognises the importance of student testimonials, which are included with News and Events.

Not marketing themselves as well as Perth - while the visual elements exceed that of Perth’s, the format could be considered too cluttered - less verbal cues, less convincing.

Study Western Australia (Perth)

Ability to quickly give information on studying in Perth.

Instantaneous event feed and News feed, updated in real-time.

In terms of language features, Perth’s website contains no visible language options on.


Advertising & sales

Advertising & promotional strategy

StudyNSW the portal itself coordinates information between all stakeholders. However to initially attract users onto the website direct channels of marketing must be utilised. 3/4 of students prior to arriving in NSW, engage in social media. Whether its facebook, youtube, ,or Google Plus marketing through social media reaches the entire target market and is cost effective. Direct selling through education agents is the second source of information which assist the decisions students make whether to study or not. Promotional packages and knowledge packs should be widely distributed and readily available to our intermediary partners.

Furthermore traditional advertising such as television advertisements to public billboards in the key target markets; China, Indian and Korea are essential to raise awareness and grow one’s interest into experiencing NSW. Although billboard advertisements present significant costs, direct billboards guarantee coverage. As many people travel the same route on a daily basis, billboards reinforce the value of our portal. To bypass country specific censorship laws employment of the social media networks such as Weibo, Queque or Renren for China.

Sales & distribution channels

Channel type Products/services Advantages Disadvantages

Agents Endorsement Sales pitch High saturation rate of compliance. Only limited to whoever the agents speak to.

Billboards Physical display Still work without computer access.Expensive, unknown of media exposure toward target market.

Social Media Networks Web advertsMay have greater reach than all other forms of marketing.

Only accessible via computer


The Future

Vision statement:

StudyNSW will be the number one destination of choice for international students. NSW aims to provide international students with an invaluable social experience; enable the development of leadership skills, which further supports globally recognised qualifications.

Goals/objectives:

The goal of the StudyNSW website is to provide a reliable source of information for students considering studying overseas. The desired outcome is an increase in the number of international students enrolling in courses offered by education providers in NSW. The website will also provide useful information about accommodation, safety, banking to increase retention of existing students. This is considered equally important as student satisfaction is believed to correlate with positive student testimonials that are critical to encouraging future students back home to follow the same path.

UNIVATIVE_Business_Proposal_FINAL

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