The highest brand equity score is for XLRI at 4581 followed by SPJIMR and FMS

The highest brand equity score is for xlri at 4581

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The highest brand equity score is for XLRI at 45.81, followed by SPJIMR and FMS. IIMI and IIMK stand at position 4 and 5. The lowest brand equity is for NMIMS. A comparison between brand equity rankings and choice intention Table 5. Step-wise regression analysis to study relationship between independent variables (M1– M4) and dependent variables (M5–M7). M5 M6 M7 Preference Willingness to pay fee premium Choice intention (probability to join) IIMI Overall brand assessment a (0.373 b ); location a (0.236 b ) Intellectual capital (0.218); familiarity (0.177); admission rigor (0.173) Overall brand assessment (0.238); placements (0.224) IIMK Overall brand assessment (0.294); placements (0.247) Admission rigor (0.228); familiarity (0.245); industry interface (0.172) Overall brand assessment (0.164); placements (0.204); VFM (0.211) SPJIMR Overall brand assessment (0.203) Placements (0.290); familiarity (0.174) Infrastructure (0.221) MDI Overall brand assessment (0.388) Overall brand assessment (0.253); familiarity (0.258); VFM (0.205) VFM (0.306); globalization (0.226) XLRI Placement (0.225) Placement (0.249); familiarity (0.238); infrastructure (0.237) Program recognition (0.244) FMS Program recognition (0.261) Program recognition (0.322) Program recognition (0.347) NITIE Program recognition (0.237); VFM (0.236) VFM (0.261); Infrastructure (0.259); Familiarity (0.189) Program recognition (0.439) IIFT Program recognition (0.295); VFM (0.213) VFM (0.284); admission rigor (0.283) Admission rigor (0.241); program recognition (0.215) NMIMS Program recognition (0.320); familiarity (0.205) VFM (0.260); familiarity (0.202) Overall brand assessment (0.263); familiarity (0.312); infrastructure (0.181) a Factors that influence and are predictors to mentioned dependent variable (significant at 95% confidence levels). b Each factor is accompanied by their Beta coefficients of prediction mentioned in brackets. 194 A. Aggarwal Sharma et al. Downloaded by [Sapna Popli] at 08:08 20 December 2013
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ranks shows that XLRI and FMS are the most sought-after brands, thereby sup- porting the literature that brand equity has direct effect on purchase/choice be- havior (Aaker, 1991 ; Keller 1993 ). Though the brand equity perception of IIMI and IIMK, according to this research, is lower than SPJIMR, they are more pre- ferred to SPJIMR at the final decision stage, which could be the halo effect of the IIM brand name. This is in conformance to the literature suggesting the importance of brand name and legacy in decision-making (Mourad et al., 2010 ; Saeed & Ehsan, 2010 ). NITIE and NMIMS are the least preferred in the sample. Hence, the aggregate brand equity measures based on perception variables are quite related to behavioral indicators of choice (Agarwal & Rao, 1996 ). When the brand equity results are observed in accordance with variable M6 (willingness to pay fee premium); IIMI and XLRI ranks on the top followed by IIMK. The willingness to pay a fee premium for FMS is lower, perhaps because of the reference pricing perception. FMS being the gov- ernment-owned institution charges the least fee per annum (refer Table 2 ) and is the most affordable MBA institution in the world. Therefore, with the constant scale being used in the research, the average score for variable M6 was lower for FMS The results are also mapped against the business school rankings done by Indian business magazines. These publications seek data on the said parameters
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