The Institute for Professional Development (IPD) must chart a new direction as it severs its relationship with Barry University. Until this point, IPD has benefited from the collegiate affiliation which provided an umbrella under which the institute could operate. As the institute tries to make its own way without the university affiliation, it must define its target market and develop materials appropriate to reaching that market effectively and efficiently.
To this point, IPD has focused primarily on government and nonprofit organizations, although it has also successfully marketed to some companies. State government offices and universities comprise many of the institute's customers, but the company has had some success with companies such as American Express and Motorola. Because IPD has demonstrated competence in this area, and because former customers can be used to generate positive word-of-mouth advertising and testimonials for IPD, its core target market should remain among its current customer base.
Initially, IPD should focus on marketing its professional development seminars to government agencies which have already sent some attendees and who are familiar with the institute's reputation and quality of service. New employees come into organizations on a regular basis and provide a new pool of potential customers. At the same time, IPD should call on former customers for testimonials which can be used in marketing materials which target similar agencies. In this way, IPD can build on its relationship with the Florida Highway Patrol to market classes to local law enforcement agencies throughout Florida.
IPD should also take the opportunity to develop new classes in conjunction with former customers in order to cultivate new business and to develop seminars which can be resold at a profit to other companies and organizations. During the first year of its independent operation, IPD should focus on becoming the ...