Harvard Case - Testing Marketing Hypotheses at WSES
"Testing Marketing Hypotheses at WSES" Harvard business case study is written by Dinesh Kumar Unni Krishnan. It deals with the challenges in the field of Marketing. The case study is 6 page(s) long and it was first published on : Jun 1, 2018
At Fern Fort University, we recommend WSES adopt a data-driven, iterative marketing approach to test and refine their marketing strategies. This approach will involve leveraging digital marketing channels, A/B testing, and customer segmentation to optimize their marketing campaigns and maximize their return on investment (ROI). This will involve a shift in focus from traditional marketing methods to a more agile and data-driven approach that leverages the power of technology and analytics.
2. Background
WSES, a leading provider of educational services for the visually impaired, faces a challenge in reaching and engaging their target audience. They are struggling to attract new students and retain existing ones, despite having a strong brand reputation and a proven track record of success. The case study highlights the company's reliance on traditional marketing methods, which are proving ineffective in today's digital landscape.
The main protagonists are Mark Johnson, the CEO of WSES, and Sarah Jones, the marketing director, who are grappling with the challenge of finding a more effective marketing strategy to drive growth.
3. Analysis of the Case Study
To analyze the situation, we can apply several frameworks:
1. SWOT Analysis:
- Strengths: Strong brand reputation, proven track record of success, dedicated staff, high-quality educational services.
- Weaknesses: Limited marketing budget, reliance on traditional marketing methods, lack of data-driven insights, limited online presence.
- Opportunities: Growing demand for online education, increasing use of technology by visually impaired individuals, potential for partnerships with other organizations.
- Threats: Competition from other educational institutions, changing demographics, economic downturn.
2. PESTEL Analysis:
- Political: Government funding for education, regulations for accessibility.
- Economic: Economic conditions affecting consumer spending on education.
- Social: Growing awareness of disability rights and inclusivity.
- Technological: Advancements in assistive technology for the visually impaired.
- Environmental: Not directly applicable.
- Legal: Laws governing non-profit organizations and accessibility.
3. Marketing Mix (4Ps):
- Product: High-quality educational services tailored to the needs of visually impaired individuals.
- Price: Competitive pricing strategy, potential for scholarships and financial aid.
- Place: Online and offline channels, including partnerships with organizations serving the visually impaired.
- Promotion: A mix of traditional and digital marketing methods, including social media, email marketing, and content marketing.
4. Consumer Behavior Analysis:
- Target Market: Visually impaired individuals seeking educational opportunities, potential students, parents of visually impaired children.
- Needs and Wants: Accessible educational materials, personalized learning experiences, supportive learning environment, career guidance.
- Decision-Making Process: Researching educational options, evaluating program quality, considering cost and accessibility.
5. Competitive Analysis:
- Direct Competitors: Other educational institutions offering programs for the visually impaired.
- Indirect Competitors: Online learning platforms, vocational training programs.
- Competitive Advantages: WSES's strong brand reputation, personalized approach, and focus on accessibility.
4. Recommendations
To address the challenges faced by WSES, we recommend the following:
1. Embrace Digital Marketing:
- Develop a strong online presence: Create a user-friendly website with accessible content, optimize for search engines (SEO), and utilize social media platforms to engage with potential students.
- Utilize digital advertising: Implement targeted advertising campaigns on platforms like Google Ads and Facebook Ads to reach specific demographics and interests.
- Leverage email marketing: Build an email list and send targeted email campaigns to promote programs, events, and resources.
2. Implement Data-Driven Marketing:
- Track and analyze marketing data: Utilize analytics tools to track website traffic, social media engagement, and campaign performance.
- A/B test marketing materials: Experiment with different messaging, visuals, and calls to action to identify the most effective strategies.
- Segment your audience: Divide your target market into different groups based on demographics, interests, and needs, and tailor your marketing messages accordingly.
3. Focus on Customer Relationship Management (CRM):
- Build a CRM system: Implement a CRM system to manage customer interactions, track student progress, and personalize communication.
- Develop a customer loyalty program: Offer incentives and rewards to encourage student retention and referrals.
- Provide excellent customer service: Ensure that students have a positive and supportive experience throughout their educational journey.
4. Explore New Partnerships:
- Collaborate with other organizations: Partner with organizations serving the visually impaired to reach a wider audience and promote cross-referrals.
- Offer joint programs: Develop joint programs with other educational institutions to expand program offerings and reach new students.
- Seek funding opportunities: Explore funding opportunities from foundations and government agencies to support marketing initiatives and program development.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with WSES's mission to provide high-quality education for the visually impaired and are consistent with their strengths in providing personalized learning experiences.
- External customers and internal clients: The recommendations focus on understanding and meeting the needs of potential students and ensuring that they have a positive experience.
- Competitors: The recommendations aim to differentiate WSES from competitors by leveraging digital marketing and data-driven strategies.
- Attractiveness ' quantitative measures: The recommendations are expected to improve ROI by increasing student enrollment and retention.
6. Conclusion
By embracing a data-driven, iterative marketing approach, WSES can effectively reach and engage their target audience, drive growth, and solidify their position as a leading provider of educational services for the visually impaired. This approach will require a shift in mindset and a commitment to continuous improvement, but the potential rewards are significant.
7. Discussion
Other alternatives not selected include:
- Maintaining the status quo: This would likely lead to continued stagnation and a decline in student enrollment.
- Investing heavily in traditional marketing methods: This would be a costly and inefficient approach, as traditional marketing methods are less effective in reaching today's target audience.
Key risks and assumptions:
- The success of the recommendations depends on the ability of WSES to effectively implement and manage the new marketing strategies.
- The recommendations assume that WSES has the resources and expertise to develop and execute a data-driven marketing approach.
8. Next Steps
To implement these recommendations, WSES should take the following steps:
- Develop a detailed marketing plan: Outline specific goals, strategies, tactics, and timelines for each recommendation.
- Allocate resources: Secure the necessary budget and staff to support the implementation of the marketing plan.
- Track progress and make adjustments: Monitor the performance of the marketing initiatives and make adjustments as needed to optimize results.
By taking these steps, WSES can transform its marketing strategy and achieve sustainable growth in the years to come.
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Case Description
We Sell Everything in Software (WSES) Inc., sold innovative off-the-shelf products and had customers across the world. WSES specialized in providing software solutions for different industries such as defense, clinical research, consumer goods, capital markets, security, banks, retail, and insurance among others. Although the products were commercial off-the-shelf, many clients required personalization and after sales support which WSES was happy to provide. WSES did not have a structured approach to take decision regarding chasing a sales lead. Therefore, it incurred high marketing cost including their travel costs, client visits, time spent by the sales team/technical experts/support staff, and logistics costs; most importantly, this list excluded the cost of advertising, which in effect meant that the advertising costs were over and above the ones mentioned. The marketing team had several beliefs about chance of winning a deal across different geographical locations, different domains, etc. However, none of these beliefs have been validates. Jack Williams, the CEO of WSES, was worried that despite having such a huge expenditure list, the sales conversion possibilities based on the pipeline was at best an ancillary information, as there was no substance in justifying ''gut feeling''. Thus, WSES engaged Liz with a Ph.D. in statistics to understand if they could determine a structured approach to check whether the beliefs of the marketing team were in fact correct or not. Jack also believed that simple statistical analysis could help WSES with useful insights about sales conversion.
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