Study On The Marketing Strategies Of IEAC Overseas Test Prep Training Program

Analysis of this paper has shown that the willingness of Chinese families to send their children overseas for higher education has not seriously waned because of either political factors or the COVID-19 pandemic,meaning that the overseas test prep market in China has not,at least not obviously,shrunk in scale.In such second-tier cities as Chengdu,whose economy has been growing substantially,there does exist a relatively large-scale and potentially scalable overseas test prep market.In a context as such,the overseas test prep companies in Chengdu still have great business opportunities to tap into.iEAC Overseas Test Prep is a brand initiated in 2020 by one of the largest private education groups in Sichuan.As a new brand,iEAC hopes to enter the overseas test prep market smoothly and take root as soon as possible so that the company can develop healthily in the long run.This paper aims to design reasonable and actionable marketing strategies for iEAC so as to aid the company to enter the local market and steadily scale its business.To actualize this research goal,the paper adopts the STP theory to analyze the key features of the overseas test prep market in Chengdu,while employing the 4P marketing theory,PEST analysis,and SWOT analysis to analyze thoroughly the status quo of the company and the overall marketing environment.In the meantime,this paper takes advantage of the resources of iEAC’s parent company to conduct market research,having surveyed the local consumers and researched into their potential needs.Based upon the abovementioned analysis and research,the paper determines the positioning of iEAC,and proposes measures to ensure relevant marketing strategies that are designed in accordance with the company’s positioning.In its analysis,this paper takes the marketing of training high school students IELTS as iEAC’s target market.For this particular group of consumers,this paper formulates comprehensive 4P marketing strategies.The products will be made not only authoritative and professional but also convenient and interesting;the places where the products are sold will be both online and offline;the prices will be made reasonable and therefore acceptable,with dynamic pricing enforced as well;and the promotion focuses on public relations and social media in addition to traditional measures,e.g.,advertisements and word of mouth.Finally,this paper proposes measures concerning corporate structuring,personnel,and incentives in order to ensure the successful implementation of the proposed 4P marketing strategies.