Answer

1.      Chapter 1: Introduction and Problem Definition

Turn of the 2000 millenium has seen mankind take significant steps towards capitalizing on new and sophisticated technologies in this information age. Technology is continually being developed and improved, with many countries keen to participate proactively in the race to build a knowledgeable society. Often, this race is augmented by international education where countries fund and sponsor students to pursue STEM courses in overseas countries. For instance, the number of Chinese students studying abroad has risen steadily from 280,000 in 2010 to more than 520,000 in 2015^[1]. It is predicted that the value of Chinese education market will be up to 2.9 trillion in 2020. This research essay seeks to answer the question; What marketing strategies do New Oriental use that has enabled them to increase revenues and become the market leader in the Chinese education sector?

1.2. Overview of New Oriental Education and Technology Group

New Oriental Education & Technology Group was established in 1993 in Beijing, China. As leader in the Chinese education market, it became the first Education and Training Institution listed on overseas scholarship markets. The group owns various platforms such as the Short-term Training, Cultural Communication, and Consultative Service Systems. With these platforms, New Oriental rapidly transformed into a large comprehensive education group that combines training, R&D of products, and educational services, all under the umbrella of a single company. However, with the political revolution, diversification, and industrialization of education, competition in the education market has escalated beyond the group’s expectations. As a result, New Oriental has been forced to adopt new strategies in order to stay ahead of their rivals.

In 1993, the Chief Executive Officer of New Oriental, Minhong Yu, took a risk of investing all the profits gained from the previous two years into the business. The move proved successful, and paved the way for the company’s successful development over the next 24 years. By May 2017, New Oriental had already spread its operations to 65 cities, with 855 learning centres, 77 schools and approximately 22,000 teachers^[2]. Their products launched ranged from Oversea Study Consulting to General Training for Primary and Secondary students, Pop Kids Education and then expanded to the Non-English Training Field, and so on. However, rapid internal expansion within the group also brought drawbacks such as recording financial deficits, and decreasing quality of teaching. With greater competition in the market, it is imperative for New Oriental to change its marketing strategies in order to maximize profitability and market share, while mitigating competition. More importantly, such strategies will be necessary for the group to access and exploit new opportunities required to drive and sustain its competitiveness in the Chinese education sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.      Chapter 2: Marketing Mix

Marketing mix refers a series of controllable marketing tools that a business uses to improve the market strategies and obtain the feedback from its target market^[3]. The traditional marketing mix model consists of 4Ps; namely, Product, Price, Promotion and Place. However, the extended marketing mix will be used to focus on how New Oriental Education Group offers their products, which will include People, Process and Physical evidence.

2.1. Product

By 2017, services and programs offered by New Oriental can be generally classified into seven key areas. These areas include test preparation, K-12 after-school tutoring; language training; primary and secondary schools; educational content, software and other technology development and distribution; online education; and other services and products.

New Oriental’s products can be analyzed effectively using the BCG framework (Boston Consulting Group matrix). Some marketers refer to the framework as growth—share analysis, and was formed primarily as an analysis tool to help businesses identify the role of products on future profit margins. According to founders of the model, this would help the businesses make strategic decisions regarding where and when to invest^[4]. Within the matrix, x-axis represents market share, which shows the competitiveness of the product and relations with its rivals. On the other hand, Y-axis represents market growth which illustrates the net cash flow brought by the product to the business.

According to New Oriental’s annual report from 2012 to 2017, combining with BCG matrix, New Oriental’s major programs can be listed:

 

 

 

 

 

 

 

 

 

2.1.1.      K-12 After-School Tutoring

This course was designed to supplement students’ regular school curricula and help students achieve higher scores on entrance exams for admission into high school or high education institutions. In March 2008, New Oriental launched the‘New Oriental U-Can All Subjects’ to target middle school and high school students aged between 13 and 18 years. Of these students, those targeted most were those preparing for high schools or universities entrance examinations i.e. Zhongkao and Gaokao because many Chinese parents as well as organizations pay most attention to these examinations.

‘Pop Kids All Subjects’ – another popular program under K-12 After-School Tutoring was also announced and launched in 2008. Unlike ‘New Oriental U-Can All Subjects’, this program targets children in Kindergarten and primary school, and its main purpose is to develop children’s passion in learning and develop their self-learning abilities. Research statistics indicate that as of 2016, pre-school and elementary children represents a large proportion of K12 students in China^[5]. This means providing more opportunities for ‘Pop Kids All Subjects’ is worthwhile because the target market is quite large and is projected to increase even further due to the ongoing population explosion in China.

 

The number of student enrollments for K-12 increased sharply by 51% in 2017 leading to a subsequent increase in the number of ‘New Oriental U-Can All Subjects’ and ‘Pop Kids All Subjects’ students by 50% and 51%, respectively. As a result, K-12’s revenue rose by 44.2%, which was approximately 55% of New Oriental’s total annual revenue (measured by RMB)^[6]. This rapid growth of market share and revenue transformed,  K-12 into a ‘star’ product and and convinced New Oriental’s CEO, Minhong Yu to focus more on the support and development of K-12 program. According to the CEO, K-12 program has the prospect to build a strong customer loyalty and attract a substantial student base.

2.1.2.      Online Education

This program of product can be thought of as a ‘problem child’. With today’s technological agility and proliferation of internet technology, online education as an emerging trend has experienced spectacular growth in the last ten years. To meet the demand for online learning, New Oriental, increased its online courses from 2000 in 2013^[7] to approximately 4600 in 2017^[8]. This program is more attractive to teenagers who are online platforms enthusiasts. Additionally, teenagers prefer these courses because they offer flexibility that allows them learn at any time of a day. However, online education has attracted other companies such as EdTech that compete aggressively with New Oriental for students. Nonetheless, strives to mitigate the competition by investing heavily in O2O integrated education systems and advertisements. Notably, in 2017, the group invested approximately $19.3 million in O2O integrated education system^[9]. As New Oriental continues to invest in and expand online education through innovation, the program has the potential to become the ‘star’ product.

2.1.3.      Test Preparation Course

This program is considered as cash cow product. Essentially, the course provides training for students who take overseas exams such as IELTS, SAT, TOEFL, GMAT and among other international examinations. The course owns a quite big consumer group. In 2012, the program had approximately 40.8% and 16.1% of student population in Beijing and Shanghai, respectively^[10] suggesting that the program has a substantial market share. Success of this program influenced New Oriental to introduce ‘VIP class’ to offer customized services to meet learning needs and demands of specific customers. As the number of students seeking to study abroad increases, New Oriental has endless opportunities to expand the test preparation program, increase its market share, and ultimately earn more revenues.

2.2.Price

Price is the most significant factor that directly affects customers’ purchase decisions as well as profits that accrue from sales. Price setting by an educational institution is the process of determining the amount consumers are willing to pay for learning services and the profits the profit that the institution is likely to make from the services^[11]. This may, however, vary in the long-run due to changes in the internal and external environments.

Investigation of the pricing strategies adopted by New Oriental’s competitorsfor their IELTS 6-8 students revealed that US and Western European companies use low cost leadership to maintain their popularity among Chinese students within the studying destinations^[12]. Analysis further indicated that to successfully apply for most top universities, the minimum overall IELTS score should averagely be 6,5^[13]. Therefore, the pricing aspect of marketing mix will focus IELTS 6.5 training as this class may hold more potential customers.

Information obtained from research analysis was collated in table 1, which shows the price factors in different companies. These are some institutions that are mainly known for English training in China^[14] and are all headquartered in Beijing. I had a conversation with the consultant of Language Training department of each company and asked about following factors.

Table 1: Pricing Strategies in different Companies.

	Size of the class	Class period /time	Price/yuan¥	Fee/per class (processed data)	special/differentiated feature
New Oriental Education & Technology Group [15]	6-8	40	¥14800	¥370	●        Market leader ●        Good brand awareness ●        Well-known ●        Consumer loyalty ●        More skillful teachers
New Channel International Education Group [16]	6-8	72	¥11980	¥166	●        Skillful teachers ●        New learning material to develop kids’ social collaboration and critical thinking[17]
Meten [18]	6-8	80	¥18000	¥225	●        Target market ●        Known as cross-border education[19]
Web International English [20]	6-8	120	¥24000	¥200	●        Skillful foreign teachers ●        Purely teach in English ●        Diverse ways of learning[21]

 

New Oriental’s price is approximately twice those of New Channel and other two competitors. This is because New Oriental as a market leader in Chinese educational sector, a powerful brand image and rich human resources allow the company to higher prices relative to competitors. This implies that New Oriental has adopted premium pricing strategy by capitalizing on the strength of its brands and other first-mover advantages.  Although the New Oriental charges premium prices, customers are still willing to study in New Oriental since high prices are often associated with quality.

2.3.Promotion

In this Information Age, promotion is considered a vital business strategy. Promotion basically relates to how a business presents information to potential customers, attracting them and increasing the demand of their differentiated products in order to increase market sales^[22]. With market competition becoming increasing aggressive, managers hoping to achieve competitive advantages and remain successful should focus on how to differentiate their own programs and products from those offered by competitors.

Currently, New Oriental Education Group mainly focuses on giving lectures in various schools and universities. Minhong Yu, the company CEO, noted that, since the introduction of ‘Dream Tour’ program in 2005, New Oriental has reached 306 cities, giving 861 lectures and conducting face-to face communication with more than 2,260,000 students^[23]. While teachers in New Oriental are skilled and experienced in lecturing, students and parents are normally persuaded by the teachers’ vivid description that creates a professional impression of the company. This strengthens New Oriental’s brand image in providing educational programmes.

New Oriental has been increasing its number of learning centres and learning programmes. Thus, creating brand awareness is one of the key objectives of promotion. Face-to-face communication is more likely to attract more customers and increase their loyalty to the company. Another promotion strategy that New Oriental can adopt is below-the-line promotion. By adopting this strategy, the company’s managers can focus more on public relations using social networks to achieve a better understanding of their consumers.

Consultants at New Oriental ensures that students and potential customers remain engaged with the company talking to them, asking questions and giving a quick test on the learner’s ability. According to the test result, the learner will be given a trial lesson to experience whether it is suitable for them. This can help students to find the best learning style and environment in the most efficient way, letting them enjoy what and where they are learning.

Additionally, the company has an official WeChat account where they invite experienced people including alumni students and graduates to share their stories. This is an effective way of helping teenagers and parents to understand the different ways of thinking and learning.

2.4.Place

The place aspect of marketing mix, is about the distribution strategies that New Oriental used to sell their products. Channel of distribution is essential for the business because the ability of a intermediary to control decision making, such as price setting and advertising, will directly affect the business’s marketing strategies^[24].

New Oriental has established hundreds of learning centres all around China. Every learning centre adopts direct selling, which is known as ‘zero intermediary’ channel^[25]. Like other educational institutions, the manager introduces suitable learning programme based on the student’s learning background and present level to their parents. Afterwards, they contact the student and his or her parents to know if they are willing to take the programme.

On the other hand, technological advancements have necessitated New Oriental Group to increase investment in online education (www.tol24.com). Since December, 2000, when the online education was first introduced to the public^[26], New Oriental a large amount of money has invested heavily in the program. In 2005, the website name was changed into ‘Koolearn’. By 2017. The number of New Oriental online education subscribers increased to approximately 17.0 million and around 855 thousand users paid for additional access to specialized education programs^[27].

The online program has helped increase the number of potential consumers for New Oriental while reducing operation costs. This is because it has eliminated the need for setting up additional learning centers to reach customers in some regions. Moreover, it is more convenient for customers to gather the knowledge about the specific area they want to learn at anytime and anywhere.

Minhong Yu capitalizes on this advantage to increase the company’s performance and productivity. For instance, he points out that the company is considering to increase the teaching quality through the internet by providing personal customized tuitions for all students based on their interests and learning styles. The company also plans to offer learning opportunities by using live classes for students in regions with economic hardships.

2.5.People

Service quality within in education sector is considered a significant measure of whether consumers are willing to stay, not only in term of academics, but also in terms of the social environment experienced by the student and parents^[28]. New Oriental popular reputation must have an inextricable relationship with their services. To maintain their brand image, offering after-sales services may be an essential strategy to satisfy their customers and win their loyalty. New Oriental education has their own website for teachers to give each student class feedback, which improves the communication between the teacher and the client.

New Oriental owns rich labour resources and it cost a lot to provide training for the teachers. In 16th of October, 2018, there were totally 885 outstanding teachers from 40 learning centres, 26 squads flying to the world top universities and learning institutions in the US, UK, Singapore and other countries for training. This was the largest training programme known as ‘New Oriental Global Professional’ that New Oriental has ever offered[29]. This pointed why New Oriental has been known for their large number of excellent teachers since established. New Oriental is still expanding their recruitment to attract more competent workers and improving their working environment and job satisfaction.

2.6.Process

As aforementioned in ‘People’, social network has replaced more intimate forms of communication, especially WeChat and New Oriental’s official website. The simple process of how the teacher provides information and class feedback to the student and parents may directly determined whether the consumer loyalty is going to be built or not. The most important thing is when the consultant introduce suitable learning programmes to consumers, the outreach advertise should not be accepted. Managers are not supposed to make any unrealistic promises to their customers and they are also expected to be involved in customers after-sale services.

Consumer profiles are created for each student, including their ability of learning, understanding and accepting. Teachers should be familiar with their students even before they are giving a lesson to them. Teaching assistants also need to follow up the student’s learning progress, aiding teachers and parents to achieve the best learning outcome^[30].

2.7.Physical Evidence

Physical evidence is a tangible component of service provided, ranging from teaching materials to the appearance of the buildings and learning facilities^[31]. In most learning centres, there is a ego wall in the lobby representing some outstanding teachers and students. Meanwhile, admission brochures, campus distribution and other resources are available at the front desk to make it stand-out and influential for consumers to experience the learning atmosphere and register^[32].

 

 

 

 

 

 

 

 

 

 

3.      Chapter 3: strategies and objectives

3.1.Strength

New Oriental is popular among customers and it has already owned superior brand recognition and consumer loyalty throughout China^[33]. A powerful brand awareness can bring confidence to the customer, which is that the student is able to learn and extract knowledge there. This keeps consumers away from New Oriental’s rivals such as Xueda Education Group. On the other hand, high standard of labour resources required by New Oriental brings valuable teaching quality and learning circumstance, which is likely to be more acceptable by teenagers. Employees are also motivated by high salaries and comfortable working environment. I used to ask a manager from New Oriental how he felt about his job, ‘you can find your value and sense of achievement there’, said by him.

Owing to its high revenue and profit, apparently, New Oriental owns sufficient capital to expand their operations and programme, which led its market share to continuously increase. Additionally, positive corporate culture^[34] provides a sense of identity for employees, students, parents and people who are looking forward to working in New Oriental.

3.2.Weakness

Since New Oriental was founded in 1993 and has established 87 schools and more than 1000 learning centre. Obviously that the rate of expansion of New Oriental remains fast, especially in recent years^[35]. Although these branches receive centralisation management from headquarter, this kind of growth rate may come with some disadvantages as well, such as the lack of analysis to the market and insufficient managers who are given a wider span of control. However, simultaneously, experienced teachers are consistently sought by New Oriental to maintain high teaching quality, which the labour supplied may cannot reach the New Oriental’s standard demand in a short term.

 

Another problem is worker resignation^[36]. Due to a large amount of workload, employees always felt stressed because of the lack of spare time. Furthermore, New Oriental adopts autocratic leadership within the organisation. Many competent and experienced employees have unclear promotion expectation and career planning. This results in some professional workers leaving to other institutions, seeking for a better job. New Oriental should pay more attention on how to reduce its job turnover rate.

3.3.Opportunities

There are a large number of potential consumers in the market. In modern society, with the higher expenditure consumed by people and higher level of pressure given to the teenagers, parents devote more investment in educational field. Most multinational companies are being globalised, therefore, their demand for employees who are able to speak English is increasing. This group of people, plus New Oriental regards innovation as their main concept, seems to be more productive to help business to achieve objectives. This includes that each manager of New Oriental’s different programmes is running a Wechat Official Account, what employees are getting involved as well to share their life experiences and learning achievement. Hence, It is very convenient for people to read and for business to spread reputation by using the popularity of internet.

3.4.Threats

Educational field is a massive market that faces to various consumers. There are plenty of new educational groups introduced into the market or some institutions that only focus on one particular programme are expanding rapidly. The competitiveness within the market are becoming much higher, new products launched and a large amount of investment in organizational changes such as upgrading system, optimizing management and standardising size comes with risks to earn not as much profit as its star programmes^[37]. This may cause an unbalanced growth among the programmes, which indirectly offers other competitors opportunities to promote and develop their differentiated product.

 

 

Table 2: SWOT Analysis of New Oriental

Strength ●        Brand recognition ●        Consumer loyalty ●        Holds the largest market share, which allows them to charge a higher price and earn revenue ●        Large scale of the business ●        Sufficient capital	Weakness ●        Expansion rate is too fast to meet current demand ●        Worker resignation ●        Professional workers leave the business, seeking for another job.
Opportunities ●        Large number of potential consumers ●        More investment in education from households	Threats ●        High competitiveness ●        Large amount of investment in technological development ●        Unbalanced growth among the programmes, which gives other businesses to expand.

 

 

 

 

 

4.      Chapter 4: Conclusion

Overall, New Oriental takes full advantage of its position in the market, especially price setting. Price leadership allows New Oriental to charge a high price and increase their revenue. This may not restrict the increasing number of consumers because the market promotion is simultaneously strengthened around China, including lectures and trial lessons provided for experiencing learning journey. These are all helpful for New Oriental to maintain consumer loyalty and build confidence in their clients. On the other hand, refer to the BCG matrix analysis, New Oriental should, firstly, mainly focus on its oversea studying market such as Test Preparation Course to fasten its market growth, increasing revenue. Secondly, it is necessary to keep investing in the ‘star’ product, K-12 After-school Tutoring, to hold the chance of getting its future profitability. Based on these development, other products like online education are relatively weak, which should be paid more attention or adopt more strategies to unify the standard of every single programme.

 

 

 

 

5.      Chapter 5: Appendices

	2013	2014	2015	2016	2017
Net Revenue	959,854	1,138,887	1,246,766	1,478,384	1,799,509

 

(Data From: New Oriental Annual Report, September 27, 2017.)

Looking at New Oriental’s annual net revenue, apparently, the revenue from educational programmes and services and books between 2013 and 2017 was increasing at a fast rate. This means the strategies adopted are working effectively to help the business operate and expand. Although more and more startup organizations are introduced into the market, and some specialised companies are fast-growing, New Oriental’s current status provides an excellent series of information which can be attractive to investors. Additionally, household’s higher purchasing power brings opportunities to the expansion of the business. Rely on the good teaching quality offered by New Oriental, both internal and external strength will bring benefits to New Oriental, supporting the business to growth as a market leader.

 

 

 

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(吕从富. 新东方教育科技集团营销策略研究.南京大学,2017)

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