Brands are fundamentally about experiences and relationships and therefore they

Brands are fundamentally about experiences and

This preview shows page 25 - 27 out of 31 pages.

value with focused marketing efforts. Brands are fundamentally about experiences and relationships and therefore they form the main basis of an institution’s connection with stakeholders. According to the EFMD report (CarringtonCrisp, EFMD, & ABS, 2012 ), the overall reputation of a business school is important for all audience groups Table 8. Rank correlations between ranks estimated from brand equity scores, magazine rankings, and M6 and M7 score ranking. Attributes Rank correlation Brand equity rank and willingness to pay fee premium rank 0.704 Willingness to pay fee premium and choice intention ranks 0.769 Brand equity ranking and choice intentions rank 0.852 Brand equity ranks and magazine ranks 0.630 Willingness to pay fee premium and magazine ranks 0.778 Choice intention and magazine ranks 0.630 Journal of Marketing For Higher Education 197 Downloaded by [Sapna Popli] at 08:08 20 December 2013
Image of page 25

Subscribe to view the full document.

when determining the VFM and the enrolment decision, almost feeding a vir- tuous circle with VFM driving reputation. Well-designed and consistent brand campaigns are essential for the business education marketspace. Product quality and features (tangibles) that generate preferences are traditional marketing communication messages. Recently the focus is on creating and maintaining differentiated positioning through a brand’s unique set of intangibles and hence building a greater brand reputation. Pre-2009, the Wharton Business School brand did not stand for anything other than a clear recognition that it was the best finance school (functional differen- tiator). In fall 2009, Dean Thomas Robertson wanted to both clarify the school’s brand and deliver more consistent messaging. After much deliberation, Wharton came up with the new positioning and refreshed its brand with the idea – ‘Knowledge for Action’, based on the belief that Knowledge is the muscle of any business. The branding campaign used multimedia to highlight three strategic initiatives: innovation, social impact and global presence (Shayon, 2012 ). Several other US business schools have also taken proactive steps to reposi- tion and differentiate themselves on non-functional attributes and build stronger brand equity. The examples of these include Kellogg School of Management (Think Bravely), Harvard (We educate leaders who make a difference in the world) and Stanford (Change lives. Change Organizations. Change the World). In India, business schools have been communicating overall brand/institution image (which are built on parity points rather than differentiators) but now there is a need to identify the points of difference and build brand strength on them. This study presents the possibility to explore intangibles as differentiators, rather than functional attributes which today are non-differentiators. Brand communications are the means of creating, evolving and enhancing a brand’s positioning and are a basis of managing its perceptions in the market.
Image of page 26
Image of page 27
  • Spring '17

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes