Applying Model of Brand Equity in Higher Education Marketing Context

Abstract

Abstract Background: The idea of brands is currently swiftly transferring from the market for goods to the market for services, giving rise to the service brand. Globalisation, the accelerated and increased development of service activities, and more rivalry in the provider’s market have all contributed to this. Objectives: The primary goal of this study is to empirically test the conceptual model in higher education to create a comparative study based on different contextual dimensions and better understand brand equity in higher education. Methods/Approach: A quantitative research method was applied. Using a questionnaire, which was sent to students by e-mail, the data were collected. The sample chosen targeted 250 actual (university students) in Slovenia. Results: Consumer traits and concepts related to the brand equity’s awareness dimension have no discernible influence on consumers’ perceptions of brand equity. Promotional actions intended to increase brand equity by increasing awareness were ineffective and had a favourable effect on the brand equity of the symbolic qualities. All service characteristics were discovered to be important. Price, excellent quality, and benefits all had a large and positive impact on brand equity. In conclusion, all financial factors had a substantial and favourable effect on brand equity. Conclusions: The research’s findings showed that the customer-based brand equity model might be used to create a competitive advantage in the higher education sector and to direct marketing efforts.