Harvard Case - Who's #1: INSEAD, Harvard, Wharton, LBS? (A): Designing Research to Measure the Strength of Business Schools Brands
"Who's #1: INSEAD, Harvard, Wharton, LBS? (A): Designing Research to Measure the Strength of Business Schools Brands" Harvard business case study is written by Joerg Niessing, Pierre Chandon. It deals with the challenges in the field of Marketing. The case study is 8 page(s) long and it was first published on : Nov 10, 2017
At Fern Fort University, we recommend a comprehensive market research strategy to assess the relative brand strength of INSEAD, Harvard, Wharton, and LBS. This strategy will involve a multi-pronged approach incorporating quantitative and qualitative research methods, focusing on a variety of stakeholders, and utilizing advanced analytics to generate actionable insights.
2. Background
This case study focuses on the competitive landscape of top-tier business schools, specifically INSEAD, Harvard, Wharton, and LBS. The challenge is to design a research methodology to measure the strength of their respective brands. The study aims to provide a framework for understanding the factors that contribute to brand strength in the business school sector, allowing institutions to better position themselves in the market.
The main protagonists are the four business schools themselves, each seeking to attract the best and brightest students and maintain their position as leading institutions.
3. Analysis of the Case Study
To analyze the case, we will utilize a combination of frameworks:
- Segmentation, Targeting, Positioning (STP): We need to understand the target market segments for each school, their unique value propositions, and how they are positioned within the competitive landscape.
- Brand Positioning: Understanding how each school is perceived by prospective students, alumni, recruiters, and other stakeholders is crucial. This involves analyzing their brand attributes, values, and overall image.
- Consumer Behavior Analysis: Analyzing the decision-making process of prospective students, including their motivations, priorities, and information sources, will be critical to understanding how brand strength influences their choices.
- Competitive Analysis: A thorough analysis of the strengths and weaknesses of each competitor, including their marketing strategies, brand positioning, and overall market share, is essential.
- SWOT Analysis: Conducting a SWOT analysis for each school will help identify their internal strengths and weaknesses, as well as external opportunities and threats.
4. Recommendations
The recommended research strategy involves the following steps:
- Define Research Objectives: Clearly define the research objectives, such as measuring brand awareness, perception, preference, and overall brand strength for each school.
- Develop a Multi-Method Research Approach: Combine both quantitative and qualitative research methods:
- Quantitative Research: Conduct surveys, online polls, and data analysis to gather statistically significant data on brand perception, awareness, and preference.
- Qualitative Research: Conduct in-depth interviews with prospective students, alumni, recruiters, and faculty to gain a deeper understanding of their perceptions and experiences with each school.
- Target Multiple Stakeholders: Collect data from various stakeholders, including:
- Prospective Students: Understand their motivations, priorities, and decision-making process.
- Alumni: Assess their satisfaction levels, brand loyalty, and perceptions of the school's value proposition.
- Recruiters: Understand their hiring preferences, brand perceptions, and the importance of school reputation.
- Faculty: Gather insights on the school's academic reputation, research strengths, and overall brand image.
- Utilize Advanced Analytics: Employ data analysis techniques, including sentiment analysis, text mining, and predictive modeling, to extract meaningful insights from the collected data.
- Develop a Comprehensive Report: Present the research findings in a clear and concise report, including actionable recommendations for each school based on the data analysis.
5. Basis of Recommendations
This research strategy is based on the following considerations:
- Core Competencies and Consistency with Mission: The research will align with each school's mission and core values, providing insights to strengthen their brand positioning and attract the right students.
- External Customers and Internal Clients: The research will address the needs of both external stakeholders (prospective students, recruiters) and internal stakeholders (faculty, administration).
- Competitors: By analyzing the competitive landscape, the research will provide insights into the strengths and weaknesses of each competitor, allowing for strategic positioning.
- Attractiveness - Quantitative Measures: The research will utilize quantitative measures, such as brand awareness scores, preference rankings, and market share data, to assess the relative attractiveness of each school.
- Assumptions: The research assumes that brand strength is a significant factor influencing student choice, and that data analysis can provide valuable insights into brand perception and preference.
6. Conclusion
By implementing this comprehensive market research strategy, the four business schools can gain valuable insights into their brand strength, identify areas for improvement, and develop effective marketing strategies to attract the best and brightest students. The research will provide a data-driven foundation for informed decision-making, ultimately helping these institutions maintain their position as leading players in the global business education market.
7. Discussion
Alternative research methods, such as focus groups, online forums, and social media analysis, could be incorporated to further enrich the data collection process. However, these methods may not be as statistically robust as surveys and interviews.
The key assumption of this research is that brand strength is a significant factor influencing student choice. While this assumption is generally valid, other factors, such as academic reputation, program offerings, and financial aid, may also play a significant role.
8. Next Steps
The following timeline outlines the key milestones for implementing the recommended research strategy:
- Month 1: Develop research objectives, define target audience, and select research methods.
- Month 2: Develop survey instruments, recruit participants, and conduct interviews.
- Month 3: Analyze data, develop insights, and prepare a comprehensive report.
- Month 4: Present findings to stakeholders, develop actionable recommendations, and implement strategic initiatives.
By following these steps, the four business schools can gain valuable insights into their brand strength and develop effective marketing strategies to achieve their strategic goals.
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Case Description
In 2017, the Financial Times ranked INSEAD's MBA programme #1 in the world for the second year in a row. The Dean of INSEAD, Ilian Mihov, commissioned a large-scale study to understand the shool's brand equity compared to its peers. The goal is to optimize INSEAD's positioning, value proposition and communication, to attract the best MBA students. Case A asks students to develop a survey that will measure the strengths and weaknesses of the INSEAD brand compared to its key competitors. They must select the performance measures, relevant competitors and the relevant sample. Case B provides results from a survey of 4,000 GMAT-takers who rated 18 business schools. Students analyze the data to measure the strength of the INSEAD brand and its image compared with its competitors. To optimize the school's positioning, students must identify the most important attributes used when choosing an MBA programme. Please visit the dedicated case website "https://cases.insead.edu/who-is-number-one" to access supplementary material.
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