BUS602: Marketing Management

Every university needs a brand and an image that can be trusted and believed and that will differentiate it from others. The image is vital. It is necessary for every university to know what makes them able to develop better linkages with stakeholders and the community. If the university management knows themselves and what they can do for themselves, they can position themselves in the market as the best and develop a niche and this can add prestige to the universities. This can also help universities in knowing the customers more precisely. The concept of branding in the university has not fully been developed and demands more research for the advancement in the field. During this study, we found more of the literature relevant to business whereas very little came from the sources of higher education.

In today's business world branding has become a buzzword. There are universities who are unable get their brand such recognition which it deserved. They are not aware of the process of how they can increase the prestige of their institution by using branding. There are some who believe that the term branding is the most misused and overused word in the business of marketing. Researchers are in agreement that for universities or educational institutions, brand is neither a logo nor a crest, although both are the part of the brand. It is also not a motto or a slogan. University brand, in fact, is the perception and reputation developed in the minds of the people about the university or institution. It is the reaction in the minds of the people when they hear or see a name or symbol of some university or institute. Therefore branding can be considered one of the processes that can strengthen the universities, by making them able to face the challenges in the volatile periods, and also by making them able to grab the opportunities that appear during this period. During the process of branding, organizations normally identify their strengths and use them in the decision making process.

Most of the time, the brand's power increases the association of the customer with the product. The stronger the brand, the greater the association will be. Contrary to the production industry, the trend of branding in the service industry has not yet fully been explored. Prasad and Dev. in their study regarding service industry showed that the branding is the only criteria used by the customers to differentiate between organizations. In the service sector, the firm's name is the main brand. The term branding is also gaining importance in the business of higher education as the term 'globalization' has affected education, and education is now becoming an internationally tradable good/service like others. This angle of understanding compelled the countries to develop such policies where the term 'higher education' is understood as a corporate term with the aim of growth in 'market share'.

Any service industry must identify the requirements of the potential customer, and devise its product and service according to the needs of the customer. The same is true for the education sector as well; as it is also a service industry with student clientele. Universities, therefore, must develop a clear understanding about what potential students are looking for. Brand familiarity has got importance, especially at the time of decision of attending the institute for education or for donation purposes. Sevier explains the importance of brand familiarity by giving an example of the students who, when receiving letters from different universities, normally open the one which comes from the most familiar university. This demonstrates that a good brand receives high respect.

Universities all over the world are working very hard to build brand equity. A university's strong brand name can be established by providing quality services, creating an emotional link with students, and a unique set of communication and service. This research is, therefore, aimed to identify key factors that are required to be taken care of while developing university branding strategy. The result of this study could serve as a decision making tool to help the university management and other policy gurus in Malaysia and all over the world to maximize the value of universities by focusing on the branding of Universities.