Brand management is as important in B schools as it is in any commercial brand or service. A brand is a promise of experience and a successful brand works to emphasize the promise of a different experience. The brand’s ability to faithfully convey such a feeling and determine its authenticity is the basis for attracting a targeted audience.
Brands make sense and customers develop relationships with them. According to Jennifer Aaker, the brands have unique features and have a special meaning in our minds, while at the same time serving as a guarantee of quality experience and a unique competitive aspect.
Keller and others have suggested that each successful brand answer four questions: Who are you? Home? What happened to you; What do I think of you? What about you and me? From brand ID to brand description, a brand creates responses and builds meaningful relationships. An effective brand must meet not only performance requirements, but also emotional and psychological needs. It is important to rely on something in a highly competitive environment, such as business education. Why should a student choose a school? School vendor “B” must provide students who will have good reasons to purchase their gift before the competition. The obvious answer is to put a trademark.
Communication Strategy-
For example, Harvard Business School in the United States is like a leadership, MIT Sloan – a Quants and Kellogg’s brand that inspires marketing magic – all with the hallmark of a successful brand. Close to home, MIA Ahmedabad is at the forefront of management, but MICA has managed to secure a leading position in the communications sector. These brands speak for themselves and are best known as “dream brands”.
It is essential for a B-faculty to actively paintings on maximizing its emblem attraction to draw proper college students and recruiters. The recognition of a emblem is the maximum essential evaluation criterion for a pupil whilst selecting an area to study. B-faculty manufacturers speak pleasant and credibility of the institute, and the beauty of the faculty, offering a method to label the pleasant of its graduates for recruiters. Reputed B-faculty manufacturers additionally emerge as used as a degree of fame and fulfillment through the alumni. These manufacturers also are visible to lessen the perceived risk, purposeful, bodily, or financial, that a potential pupil experiences.
Functional risk – relates to doubts approximately a mismatch among the pleasant of schooling that a B-faculty may also offer and the expectancies of the pupil. Quality of instructional workforce and the general instructional recognition are taken into consideration through the potential candidates whilst seeking to examine the purposeful dangers of reading in a B-faculty. B-faculties ought to make certain that entire and focused facts, via enriched college profiles, is with no trouble to be had to all potential candidates. Similarly, any facts speaking the educational recognition of the faculty ought to be extensively however discreetly circulated.
Physical risk – is concretized through manner of assessing the extent of bodily protection at the campus through ability candidates. As such, facts on campus size, area and climate ought to be shared with the candidates. Ease of reach, connectivity via all modes of travel, and the photograph of a ‘happening’ vicinity are taken into consideration through ability candidates nowadays.
Financial risk – manifests through manner of tension approximately return-on-funding at the rate being charged through a B-faculty. Placements and common CTC provided to college students passing out of a B-faculty are essential issues for candidates.
B-faculties additionally face every other project of their branding efforts — business marketing and marketing. In the case of a B-faculty, quite a few marketing and marketing may also definitely be counter-efficient due to the inherent question — why does the faculty want to promote it so much? A properly phrase of mouth may also definitely be extra useful than marketing and marketing within side the mass media. At the equal time, more modern entrants within side the situation can’t think about removing marketing and marketing completely.
Creative positioning-
The pinnacle tier B-faculty marketplace within side the us of a has, over the past couple of years, regarded flooded with the surprising inflow of numerous new IIMs. It is likewise a reality that a number of the present pinnacle and mid-tier B-faculties within side the us of a had been locating it hard to draw good enough numbers of considered necessary pleasant candidates. To upload to the overcrowded deliver aspect changed into the hole up of the global commercial enterprise schooling marketplace, coupled with the without difficulty to be had host of on line commercial enterprise control publications from a number of the maximum reputed institutions. In short, getting into this kind of marketplace could now no longer be recommended.
Lowering access barriers-
However, the hole of latest B-faculty in April 2020 got here as a wonder to many. The faculty gives a 16-month publish graduate program focused on technology. There are some splendid capabilities of the program which, so that you could say, fly within side the face of hitherto desirable regulations of B-faculty marketing, as a minimum in India. The provided program does now no longer cause both a diploma or a diploma; it’s miles neither recognized nor authorized through UGC and/or AICTE. It has no association to any Indian or overseas University. It does now no longer comply with the standard two-yr publish-graduate program format, neither is it the 18-month PGPX program which has won popularity.
It neither goals natural paintings-ex applicants nor the natural freshers. A CAT/GMAT/XAT rating isn’t always obligatory for admissions. Having a holistic assessment methodology, the faculty has no precise cut-offs of ratings at those tests. In reality, the faculty announces that, in brilliant cases, now no longer having a proper undergraduate diploma won’t be a difficulty to admissions. Above all, priced at approximately ₹20 lakh, the program seeks to ‘skim-the-cream’ of the marketplace.
What is so very unique approximately the School of Business that hopes to make certain an excellent reaction below such circumstances?
Industry immersion-
The schools’ USP is exceptional for its ‘uniqueness’ and for ‘now no longer being effortlessly capable.’ These, incidentally, are the 2 maximum appropriate traits in an enduring and paying USP! The galaxy of world-famed enterprise leaders who’ve come collectively to release the faculty, called, ‘Founding Masters’ is each wonderful and enviable. Virtually, the who’s who of the worldwide enterprise area is within side the team. They had been capable of correctly garner large investments for the project. The faculty additionally embeds in its presenting an in depth enterprise immersion. The faculty offers, via way of means of manner of attraction, a miles valued in-depth enterprise immersion revel in, which sounds convincingly different from the run-of -the mill summer time season internships. Offering real-lifestyles brief time period initiatives up the front is an powerful manner utilized by the faculty to tangibles the intangible, a tough project which many provider services fall brief of dealing with efficaciously
The net web page creates a client revel in CX that’s wealthy with the 3 Cs — Comprehensive, Convenient and Convincing. Noticeably there’s not anything scrolling on the house web page of the internet site, the web page is quite ‘static.’ This can be one of the motives that the web page may be very speedy to load.
Master mentors-
The B-faculty recognizes the ‘real’ clients — recruiting agencies. After all, it’s far the agencies that ‘buy’ the produce of any enterprise faculty — the expert managers. The internet site invitations agencies to co-produce the provider. In this manner, it assures each of its clients — the scholars and the agencies — of a at the same time fulfilling provider outcome. It spells out the dependent method of taking agencies on board as co-manufacturers on its internet site.
While it efficaciously offers a fertile floor to fulfill the tailored expertise wishes of recruiting agencies, it additionally addresses the student-clients in their most important concern — placements. The innovative positioning of the B-faculty appears to be running in its favor.