Executive Summary
This research conducts a competitive market analysis for the London School of Science and Technology to determine whether it will improve its market share by launching online classes. The teams conducted evidence-based research to examine both internal and external data. External elements may influence this new decision to enter a new market, considering that other existing competitors exist in the same marketplace. Porter’s five techniques examined the existing market barriers to determine whether LSST is ready to launch a new online learning program or needs to strengthen its muscles for this new challenge. Access to the internet is banned in some nations, most notably the United Kingdom, for political reasons. Because the learning resources must be housed in the correct country and comply with local legislation, offering an online learning experience becomes more complicated. Some regions have more stringent internet rules that, while allowing online education in general, prohibit the dissemination of certain items such as maps (especially of disputed territories).
Introduction
The competitor’s analysis of market strategy management will aid in determining the strengths and limitations of entering a new market. This paper will address the potential problems and strengths of analyzing the impact of adopting distance learning at the London School of Science and Technology. (LSST). The wording on the t-shirt says it all. The relevance of doing these rivals’ analyses is to uncover potential weaknesses by evaluating the strength of initiatives into new market segments that will introduce remote learning at the London School of Science and Technology. This competition study will aid LSST in determining which business approach will be employed to implement a new learning program at this school. Affordability of online education
Generally speaking, online education is an affordable alternative to regular education since it doesn’t require the live presence of teaching staff. Also, it’s straightforward to distribute digital materials since there is zero manufacturing or shipping cost to account for from copy to copy. As such, online education providers can sell their learning materials at low prices while ensuring a healthy profit.
This research will undertake a competitive analysis of the new distance learning market to see if it will be simple for the LSST to enter new markets or if it will face challenges.
What I Am Going to Write in This Report
This research examines what the LSST institution requires to join a new market of delivering distance learning. This research will also analyze and provide the necessary information supported by literature on the school’s brief background, identifying problems that will be faced when entering a new market, understanding the rivals, understanding the segment of LSST, and economic and external factors affecting this new market, internal factors, and discussing the current issues that LSST is facing. Simultaneously, the report will examine the leading higher education in London and how the academic sectors of LSST are carried out following its values of transparency, integrity, excellence, accountability, and professionalism.
What the Consultancy Offers and the Skills of The Team
Based on the team’s experience, the consultant in this research will provide an expert judgment by assessing the data based on the existing distance learning market. However, to deliver accurate information to customers, these consultants will not enable access to any data that does not exist in the public domain. They will supply critical information by watching, analyzing, recommending solutions to problems, and enhancing its performance (Martin, 2019). On the other side, the teams will provide research skills to examine data from current literature and make a judgment that will assist LSST in deciding whether or not to delve into digital marketing by incorporating distance learning into the school program. This team will demonstrate outstanding communication abilities while conducting a resourceful competitors analysis to comprehend rivals and competitors in the same market and presenting a well-presented research report.
Brief Background of the Client
The client is working on a project to help identify the current obstacles, barriers, and strengths of bringing online learning to the LSST. To be successful in this program, LSST will need to demonstrate applicable competence in 6 assessing literature and explaining tactics that will assist this institution in introducing a digital marketing sector that will attract new students.
The London School of Science and Technology is a well-known academic institution with four campuses in London, including Wembley, Elephant, Castle Aston, and Luton. More than 4,000 students study business and management, social care, information technology, and computers at this institute. The government pays student costs. If a new student is in financial need, they should apply for qualified loans.
The Problem the Client is Facing
Currently, LSST is dealing with a market analysis challenge, attempting to determine whether it is viable to implement distant learning that will attract new students.
Competitors Evaluation Using Porter’s Five Forces
Other primary science and technology universities include the University of Bristol, the University of Manchester, Liverpool Hope University, the University of Leeds, and the University of Oxford. (IDP connect, 2020). All of these marketplace rivals offer online classes, and LSST should learn from them and understand the issues they face.
Rivals
Because London already has more than five online schools, implementing an online program in the London School of Science and Technology would face fierce competition (Fern Fort University, This competitive fight will take place amongst existing campuses such as the University of Oxford, University of Bristol, Manchester University, and the University of Leeds, to name a few.
New Entries
A new admission implies the establishment of an online college in London, which is not straightforward. Still, threats of new institution entry are not a significant obstacle that LSST should be concerned about. Recognizing London’s premier higher education institute is also vital in knowing the market of offering a new digital marketing segment to the LSST.
Buyer’s power
Another difficulty that LSST should prepare for is student bargaining power.
Introducing a new learning strategy will be difficult because this online course will have less power than previous courses, resulting in a lower fee payment when compared to existing approaches.
Supplier Power
The ability to provide high-quality online courses while protecting students’ data should be considered. LSST has never hosted a long-distance online course. Starting this new notion will necessitate each individual ensuring that the school system is securely secured to protect student safety while performing online courses.
Substitute
Due to system failures and complex learning, an alternative option that allows students to submit their homework at some point should be considered. Because foraying into digital learning necessitates a solid website, the schools should consider developing a new gateway via which online students can access their courses and learn how to do so.
Target Customers Market
In this higher education of distance learning, the target consumer market is groups of schools, with some demographic technique to determine the most likely persons needing an online course.
Target
To assist students in achieving their potential learning goals and development, regardless of their origins.
Segmentation
Students can now take online classes thanks to the introduction of a new digital market segment. This technique will choose digital components in a novel way allowing students to study online.
Positioning
This online course introduction in LSST will be positioned based on customer availability and the quality of online business offered by the institution’s rivals based on the pricing of online courses and product use or customer availability. Despite being a less expensive long-term option than traditional education, online learning has a rather hefty upfront cost. This is because to consume digital information, each student must have access to an electronic device. This is not a problem in industrialized countries because many students already own or can afford electronic equipment. The high cost of laptops and cellphones in developing countries may be prohibitive. Fortunately, the cost of technological equipment is on a steady downward trend. Despite its efficiency, internet education has the disadvantage of eliminating human interaction. Students who attend a physical school daily interact with fellow alumni, school employees, and other people, including those they meet on their commute. Those who learn from behind a screen miss out on interpersonal interaction, which is likely vital for social growth and mental wellness.
External Factors (PESTEL Analysis)
Political Aspects
Restricted internet access due to political instability is a difficult element that LSST should examine before integrating online learning.
Economic Considerations
The affordability of online education should be regarded as an alternative to traditional education depending on the student’s ability to pay school fees. Students may find it more difficult to pay for online courses than traditional ones due to the high initial cost of living caused by covid-19 limits.
Factors of Social and Cultural Influence
These online courses will be difficult to access for first-generation family members who enroll in college. With daycare needs for minors who will be taught how to handle their online studies when not at school, a lack of human interaction is a significant barrier.
Technological Aspects
Access to electronic devices such as laptop computers will be regarded as vital content requiring rapid attention. The internet has made it easier than ever to access the world’s information from the comfort of your own home, ushering in a new era of possibilities known as online learning. Online learning, often known as eLearning or online education, is education delivered to students via the internet and technological gadgets.
In theory, online learning is a terrific idea – but does it have any practical potential? In this article, we use the PESTLE model to examine the Political, Economic, Sociocultural, Technological, Legal, and Environmental elements at work in the online education market. Internet access is another significant technological impediment to online education. Even if students have a strong enough electronic device to consume digital instructional materials, they must also be able to access those items via the web. Lack of internet connectivity can hamper the rollout of online education in disadvantaged communities and rural locations with limited internet infrastructure. Effective online learning necessitates extensive collaboration from educational publishers, who frequently have specific constraints about how their learning resources can be provided. For example, practically all classic textbooks cannot be shared digitally. As a result, educational providers would have to rely on the resources of specialized, online-friendly publishers or seek special authorization from traditional publishers. (which is nigh on impossible).
Environmental Considerations
Energy consumption as an environmental aspect in online classes is critical. One of the most efficient strategies to reduce paper loss will be to reduce energy use and migrate to online learning.
Legal Aspects
Weekly considerations of online learning to be examined by the Corporation of Publishers. This includes online learning material constraints and legal considerations for data security.
SWOT Analysis
Strength
It is helpful for people who are changing occupations to learn online who are changing careers to study online. It is ideal for those who wish to learn while pursuing a career. This is one of the most effective methods for professors to stay ahead of the curve in their research. It is useful for folks who need to stick to a schedule.
Weakness:
It is quite difficult to concentrate on online learning in a crowded environment. When you’re busy, it’s difficult to concentrate due o Internet access problems caused by political instability or technological difficulties. Because of their financial situation and inability to purchase computer equipment, some students may struggle to enroll in online classes.
Opportunities
Simple to use and enroll in. LSST will benefit from a stress-free learning environment.
Introducing online courses. New technology provides more options for exploring a subject. There are several online course materials available.
Threats
Failure to have sufficient credentials or to appear less reputable results in data breaching. Due to a lack of awareness about online courses, parents may find it difficult to pay for them. Due to growing rates of cyber dangers, there is a lot of uncertainty about online programs’ integrity. Another obstacle that the university will confront is difficulty in hiring and retaining qualified instructors.
Findings
The study focuses on three key issues that LSST should examine before launching an online learning program. These are the concerns.
First Issue: Recruitment Team
The recruitment team is unsure whether or not the LSST should include an online course.
Discussion of the Second Issue: The LSST staff struggles to find fresh and qualified instructors to conduct online classes.
Third Issue: Students
Another significant problem the school has in adopting distance learning programs is students’ lack of trust in e-learning.
Solid link
Team Members’ Skills and Expertise concerning the Client’s Needs
The team and expertise have the necessary competencies to meet the client’s needs. The team possesses various decision-making skills that will enable clients to decide whether to use online education or to first get everything in order. Good communication skills are also required to enable the customer to communicate with the team to determine the institution’s strategy to ensure they have discovered a definitive solution to the problem. Finally, the team could do evidence-based study on implementing online classes in the institution, allowing the client to achieve the best results on this difficult issue.
Conclusion
The significance of doing competition analysis is to uncover the weaknesses by evaluating the strength of initiatives into new market segments that will introduce distance.
You can learn about science and technology at the London School of Science and Technology. Furthermore, consultants’ talents include providing precise information based on their level of awareness of their organization and what it takes to make a decision that will aid in resolving problems, increased efficiency, and the avoidance of errors. The study focuses on three key issues that LSST should examine before launching an online learning program. These are the concerns. Due to the high cost of private university tuition, parents may struggle to afford online courses. LSST is struggling to find new and qualified instructors to provide online classes. Another significant problem the school has in adopting distance learning programs is students’ lack of trust in e-learning.
Final Thoughts on PESTLE Analysis of Online Learning.
Overall, online learning holds a lot of promise. It can transform the way we learn by offering students around the world affordable, high-quality education while lowering the environmental impact of schooling. However, there are some drawbacks to online schooling. Politically, there are internet constraints to contend with. There is a significant upfront financial investment. Online schooling reduces human interaction and raises the question of how minors will be cared for sociocultural. We must be concerned about educational publications partnering legally. It will be interesting to observe how the online learning business handles these numerous hurdles, as the potential return for a more efficient education system is enormous.
References
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Fern Fort University. (2018). China Online Education Group Porter Five (5) Forces & Industry Analysis [Strategy]. Fern Fort University. Available at: http://fernfortuniversity.com/termpapers/porter5/analysis/2677-china-online-education-group.php
IDP connect. (2020). 7 Institutions offering Science / Technology: History Courses In the UK. Www.hotcoursesabroad.com. Available at: https://www.hotcoursesabroad.com/study/training-degrees/uk/science-technologyhistory-courses/loc/210/cgory/db.71-4/sin/ct/programs.html
Lee, C. M. (2021). Descriptive SWOT Analysis about Online Learning. URL: Available at: https://www. researchgate. net/publication/350621868_Descriptive_SWOT_Analysis_about_Online_Learning.
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