Market research helps understand current trends

Marketeers should adhere to fundamentals

Anuradha KODAGODA

Local marketeers should adhere to the fundamentals of marketing. It is vital to be alert to the market's behaviour and do market research. A proper market research always helps to understand the current market trends, market requirements and behaviour, said the Assistant General Manager - Marketing, American Education Centre Ltd, Deepthi Nissanke.

"Market research always leads to a better marketing strategy.

Therefore, identify the target market segment and prepare the marketing strategy according to market research. This should be the key role of a marketeer," Nissanke said.

Here are his down-to-earth views.

Q: What inspired you to select marketing as your career?

A: During my school days there was hardly anybody to guide or advise us on the value of selecting the most suitable profession.

However, I completed the BSc degree at the University of Colombo and at the same time I did the Chartered Institute of Marketing (CIM) - UK.

While I was doing the CIM I had an interest to develop my professional career in Marketing since I like to be with people. Marketing is all about people and understanding their desire.

In marketing, it is essential to interact with people. That inspired me to select marketing as my professional career.

Q: Being a frontliner of the company, what are the challenges you face in the field of marketing?

A: I am in the industry of education. The American Education Centre is one of the premier educational institutions which conducts many overseas degree programs in the country. The education market is quite challenging today unlike in days gone by as there are many recognized institutes which expand their businesses in many countries. Unlike earlier, now there is an easy access for local students to enter overseas universities.

Hence, it is always essential to differentiate our products and be innovative to sustain in the market. To overcome the challenge proper market research is quite important.

Q: What is the impact of the current economic crisis on your organization?

A: Compared to other industries there is a minimal impact on the current economic crisis as far as the educational industry in concerned. Even in any crisis situation parents do not limit children's educational needs.

We are still maintaining the same growth level as in previous years and we introduced many novel degree programs during the past two years. As at today there is a slight impact on the current financial recession in the industry.

Q: What are the advertising strategies that you employ in your organization?

A: It is a combination of many strategies. If an organization relies on one particular advertising strategy, I don't believe that it would have a favourable effect in the long run. It is always important to use a combination of integrated marketing strategies to sustain in the business. We mostly advertise in the press, radio and TV and also through the internet and direct mailing.

Moreover, we also organize and participate in international university exhibitions, career guiding seminars and workshops at selected schools and institutions and general seminars for students and parents. Word of mouth is also one of the most effective tools to publicize institutes among the target market groups.

Q: What are the challenges that you see when it comes to global branding?

A: When it comes to global branding there are many international players in the market with whom we have to compete with to grab the market share of the industry. Compared to other players in the market we are quite new to the educational industry.

However, we introduced many degree programs to local students in Sri Lanka and there is also a huge demand from overseas students as well as it is cheaper compared with the cost-of living in European countries.

Q: What do you think about local marketeers?

A: Local marketeers should adhere to the fundamentals of marketing. It is vital to be alert to the market's behaviour and do market research. A proper market research always helps to understand the current market trends, market requirements and behaviour. Market research always leads to a better marketing strategy.

Therefore, identify the target market segment and prepare the marketing strategy according to the market research. This should be the key role of a marketeer.