Limitations and future research This study is not without limitations and some

Limitations and future research this study is not

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Limitations and future research This study is not without limitations, and some are described below: first, the study is primarily concentrated in two metro areas of India – Delhi and Mumbai – hence the bias for certain schools could be a possibility in data col- lection. A large representative sample from across the country can give a better estimate of business school brand equity. Second, the behavioral indicators used in the study are choice intentions highlighted by the respondents (ideal or desired choice), which could be different from the actual choice made. A longi- tudinal study with data on the actual school chosen would give a much better estimate of brand equity measure and performance. Finally, this research can be further extended to include a detailed respondent profiling (age, income, edu- cation, location, experience, gender, etc.) to identify the differences among groups of applicants and hence segment the population. This additional analysis may indicate how a business school can reach out to selected subgroups and strengthen the study by understanding the impact of certain consumer attributes on brand equity. Administrators may consider commissioning research on the effects on the outcome measures after the school changes its equity among prospective Journal of Marketing For Higher Education 199 Downloaded by [Sapna Popli] at 08:08 20 December 2013
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students (considering the costs involved as well). This ‘what-if’ analysis can be valuable in estimating the returns on their marketing investments. Though the essence of a great brand necessarily lies in its product quality and service experience, the business school must emphasize on creating value and building strong and well-differentiated brands that can influence the consumers’ decision-making. The branding of a business school is impor- tant to generate not just the mindspace but loyalty and association with sta- keholders. This study of brand equity evaluation is thus a first step in the journey of building business school brands. Similar studies can be done for other stakeholders namely industry, faculty, alumni and current students, and then it would be possible to compare the brand equity across the groups. It is the intent of the researchers to repeat this study in a few years to see how external and internal changes in the business schools are reflected in these measures. References Aaker, D. A. (1991). Managing brand equity: Capitalizing the value of brand name . New York, NY: Free Press. Aaker, D. A. (1996). Building strong brands . New York, NY: Free Press. Aaker, D. A., & Keller, K. L. (1990). Consumer evaluations of brand extensions. Journal of Marketing , 54 (1), 27–41. Agarwal, M. K., & Rao, V. R. (1996). An empirical comparison of consumer-based measures of brand equity. Marketing Letters , 7 (3), 237–247.
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