The target market of the school will include women aged between 25 and 55, possessing a high school diploma. The school will be situated in Florida, which means that the population will be able to pay fees set by the school for the quality of the education. Moreover, the area is characterized by the increasing number of individuals who are looking for the position of nurses, which creates the demand for education.
The market is going to be segmented:
- by race;
- by age;
- by education (no high school diploma, GED certificate, high school diploma, etc.);
- by income;
Industry Trends and Competition
There is a growing demand for higher education in the region; however, most schools do not specialize in nursing training and offer a number of different courses in lots of areas.
It means that most students will be eager to join the school as it will give them a chance to become Certified Nurse Assistant (CAN) in the short term. There will be very little competition because of the narrow specialization of the school.
Competitive Pricing of the Program
The pricing of the program will be identified by the costs of its promotion and the profit that is expected. In order to allow the school to stay competitive, the price of the course will include not only preparation but also two attempts of the examination.
This way, students will have more trust in the program because of the extra chance to pass the accreditation and will have to pay less for the course as the total sum will cover the cost of the examination.
Advertising Strategy and Methods of the School
To win the target audience, the school will invest in advertising via social networks and influential search engines such as Google. Moreover, placing an advertisement in local newspapers may also be applicable to the situation.
A campaign will be launched to visit schools and encourage high school students to join the profession. Therefore, the methods will include both direct and indirect contact with the target audience.
Strengths, Weaknesses, Opportunities, and Threats
The price of the course will cover all the required expenses, which means that the students will not have to pay extra. This approach will simplify the process.
However, this strength can be undermined because of the flexible curriculum as most schools adhere to the fixed period of training (app. 3-4 weeks), which allows them to have a bigger number of students.
If the school is successful, there is an opportunity to open several others in the neighboring regions for students to be able to choose the most comfortable location. The venture may be threatened by the decline in the popularity of the profession as well as by the absence of the required number of educational specialists.
Competitive Edge and Marketing Strategy
The competitiveness of the course will be maintained by the quality of the education that it is going to ensure. Moreover, the program will be taught in a considerably different manner as compared to other Certified Nurse Assistant (CAN) schools since it is going to be individualized.
The payment plan will also provide a competitive advantage. The marketing strategy will be aimed at and informing potential students why the conditions and pricing are much more profitable than those proposed by other institutions. The emphasis will be made on flexibility, advanced technology, qualified educators, and the opportunity to study online.
Enrollment Strategy and Forecasts
The enrollment strategy will depend on demand. If the forecasted number of students will be exceeded, it will be necessary to introduce competition in the form of preliminary tests. Another option is to create a waiting list for those whose preparation is not so urgent. However, with the opening of other schools, the problem is likely to be resolved for good.
Milestones, Accreditation, and Program Approval
Milestones are going to mark specific points of the project timeline. The first significant milestone will be the state exam after the preparation. Another one will come with the results of the second try when the mistakes of the previous course are taken into consideration.
The school will seek state accreditation and approval of the curriculum in order to ensure the quality of the preparation. For this purpose, the state committee will be invited to assess the correspondence of the institution to the national standards.