With over 2000 approved B schools and many more unapproved ( i.e.neither approved by AICTE nor affiliated to a regular university) schools competition is intense. Location has been an important aspect of the image being created with Delhi, Bangalore and Pune having an edge over other cities. Today the time has come to look at the elements of the brand more closely ( what the brand stands for), design communications to impact chosen target markets, and increasingly provide salience. Creating a difference that students/parents value is not good enough in a crowded market, there is a requirement to be more visible than competition. Yes, word of mouth is the best for any educational institution, however, with huge investments that are going in, the need to pay back quickly is only increasing.
Brand salience/visibility/impact is essential. Creating communications that draw attention, create impact, are memorable and comprehensible by target audiences are also equally important. Creating a unique brand needs to build synergistic-ally the various elements of a higher education brand. To understand what these elements are we need to look at the needs of the three important stakeholders 1.Students 2.Parents and 3. Employers.The criteria used to evaluate a school by these stakeholders is crucial to the understanding of how to position business schools.
The various aspects one needs to consider include the following. First one needs to build points of parity with competing institutions and then choose some elements that can be differentiators.
1. Infrastructure - This includes facade, class rooms and facilities within, labs, library, WiFi ,. As most managements are sure land and building appreciate and 'cash' can be brought in, they invest in this rather easily and hence even AC classrooms cannot be a differentiation forget tons of marble or granite.
2. Placements: The brand names and starting pay are both important. Once these criteria are met then the job profile offered comes in as a factor. Today the purpose of higher education in general is about getting a high paying job. Careers and learning are surely passe.
3. Location: This includes location within the city, The milieu in which the institution is located. Education hubs are preferred.
4. Student experience: Air conditioned classrooms, Interactive white boards, quality and sociability of peers, diversity among students or otherwise, class size, attitude of faculty ( a service provider), food, opportunities to meet industry captains, reception, Perceived fairness in examinations, physical evidence in terms of marks sheets/certificates and many many more things.
This is all inclusive and listing all the aspects of the experience is really not necessary here.
5. Institute reputation and visibility: Popular ranking, visibility among employers and general public ( need to pass out from a well known institution), rating among similar institutions, and associations with brand names for recruitment and governance.
6. Faculty: Institutions they studied in, attitude, research, engagement/experience with industry, knowledge of subjects being taught, communication skills , willingness to mentor individual student and maybe even turnout.
7. Research: Quality and quantity of research churned out. Journals and other publications. Research provides a link with industry and potential for innovation.
8. Quality of intake: eligibility and entry requirements, past students and results
9. Costs: Management of schools normally mention tuition fee, however, students and parents are more interested in total cost of acquiring the qualification.
10. Curriculum : The degree offered, accreditation, number of specializations and type of specializations, semester or trimester system, and industry friendliness of the curriculum.
Having listed the criteria for positioning business schools, the obvious next step would be to come up with what actions and communication tools does one use. About that in the next blog or will add it to this one after getting some feedback on this. Please write in, I accept both brickbats and bouquets equally well.
Brand salience/visibility/impact is essential. Creating communications that draw attention, create impact, are memorable and comprehensible by target audiences are also equally important. Creating a unique brand needs to build synergistic-ally the various elements of a higher education brand. To understand what these elements are we need to look at the needs of the three important stakeholders 1.Students 2.Parents and 3. Employers.The criteria used to evaluate a school by these stakeholders is crucial to the understanding of how to position business schools.
The various aspects one needs to consider include the following. First one needs to build points of parity with competing institutions and then choose some elements that can be differentiators.
1. Infrastructure - This includes facade, class rooms and facilities within, labs, library, WiFi ,. As most managements are sure land and building appreciate and 'cash' can be brought in, they invest in this rather easily and hence even AC classrooms cannot be a differentiation forget tons of marble or granite.
2. Placements: The brand names and starting pay are both important. Once these criteria are met then the job profile offered comes in as a factor. Today the purpose of higher education in general is about getting a high paying job. Careers and learning are surely passe.
3. Location: This includes location within the city, The milieu in which the institution is located. Education hubs are preferred.
4. Student experience: Air conditioned classrooms, Interactive white boards, quality and sociability of peers, diversity among students or otherwise, class size, attitude of faculty ( a service provider), food, opportunities to meet industry captains, reception, Perceived fairness in examinations, physical evidence in terms of marks sheets/certificates and many many more things.
This is all inclusive and listing all the aspects of the experience is really not necessary here.
5. Institute reputation and visibility: Popular ranking, visibility among employers and general public ( need to pass out from a well known institution), rating among similar institutions, and associations with brand names for recruitment and governance.
6. Faculty: Institutions they studied in, attitude, research, engagement/experience with industry, knowledge of subjects being taught, communication skills , willingness to mentor individual student and maybe even turnout.
7. Research: Quality and quantity of research churned out. Journals and other publications. Research provides a link with industry and potential for innovation.
8. Quality of intake: eligibility and entry requirements, past students and results
9. Costs: Management of schools normally mention tuition fee, however, students and parents are more interested in total cost of acquiring the qualification.
10. Curriculum : The degree offered, accreditation, number of specializations and type of specializations, semester or trimester system, and industry friendliness of the curriculum.
Having listed the criteria for positioning business schools, the obvious next step would be to come up with what actions and communication tools does one use. About that in the next blog or will add it to this one after getting some feedback on this. Please write in, I accept both brickbats and bouquets equally well.
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