Importance of marketing mix in higher education institutions

Abstract

Abstract:Understanding factors and circumstances that create certain market environment conditions is a primary goal of any modern -oriented higher education institution that enables harmonizing the supply with current demands as well as defining appropriate marketing strategies. The process of formulating the strategy of a higher education institution, in addition to reviewing the existing services, includes identifying new opportunities, analyzing relevant competitors and positioning against them and similar. The need for change in marketing strategy, that is market restructuring of a higher education institution, presents a natural consequence of economic oscillations which are the result of market needs and competition dynamics. Continuous monitoring and adjustment of modern developments with the needs of the target market affect the overall perception of service quality and satisfaction of users. Since the choice of marketing strategy involves defining the best ways of achieving the goals, keeping in mind that marketing as a business function, it should contribute to the improvement of educational institutions of governance process, orientation towards the market, or aligning curriculum with the needs of target groups. The Education Reform in Serbia has initiated all educational institutions (private and state) which market-oriented their activities, due to insufficient, inadequate application of current marketing and marketing tools. Using different combinations of marketing mix instruments can lead to achieving competitive advantage in education market. The main role of marketing strategy is to combine competences and other strategies of an educational institution, coordinating the challenges and limitations imposed by its environment and finding the best ways of achieving its mission and vision.

The marketing orientation as a university management philosophy: a framework to guide its application

“…These are: the "People" who intervene in service provision, the "Physical evidence" of the place where the service is provided and the "Processes" through which the service is provided (Booms and Bitner 1981). Although there are exceptions such as Wasmer et al (1997), who aligned themselves with the 4Cs model (Concept, Cost, Channel, Communication) proposed by Bruner II (1989), the 7Ps of services marketing provide the foundations of most marketing mix models proposed in the preceding literature for the case of HEIs (Kotler and Fox 1995;Maringe 2005;Ivy 2008;Newman and Jahdi 2009;Filip 2012;Gajic 2012;Ratiu and Avram 2013). Some of the proposals, however, incorporate certain adaptations compared with the original model: Newman and Jahdi (2009) renamed all the elements in order to project a more customer-oriented 7C model; Kotler and Fox (1995) and Filip (2012) concentrated their attention on Programmes instead of on Product; and Ivy (2008) put forward the following 7P model specifically designed for MBA recruitment: Programme, People, Price, Promotion, Prospectus (a split of the traditional Promotion element), Prominence (related to reputation), and Premiums (referring to aspects that add value to the offer, such as availability of on-campus accommodation or the possibilities of international mobility).…”

Engineering a Woman: Marketing Opportunities and Challenges in India

“…Marketing mix is a set of controllable marketing tools that an Institutes uses to produce the responses it wants from its various target markets [29]. Reference [29] & [30] had discussed 7P approach to satisfy the needs of the service provider's customers: product (program), price, place, promotion, people, physical facilities and processes are discussed below.…”

“…When it comes to educational offers, Kotler firstly refers to curricula and services [30]. Technical educational program like engineering, pharmacy etc.…”

“…Location can also have a relative meaning, i.e. it can be viewed in relation to where current and future students and high school students live [30].…”

“…Promotion is a process of communication between an institute and service user with an aim to create a positive attitude on products and services, leading to their favoring in the process of purchase on the market [30]. As per the reference [47], most educational institutions use public relations, marketing publications and to a lesser extent, advertising.…”