engaging in modern marketing strategies to market
Brand equity is a marketing terminology that helps in describing the value of the brand. The brand value, in this case, is determined by how the consumers perceive and experience the brand. Widener University is one of the Universities which has a high potential of increasing its brand equity in the future. In the next ten years, Widener University can increase its brand equity, improving marketing, creating brand loyalty to the customers, and ensuring the price-quality relationship. In this case, the University should engage in modern marketing strategies to market its courses and ensure that it offers as many quality courses as possible to attract many students.
Widener University can utilize the principle of perception whereby the management will view the word as a place of many opportunities. From this perspective, the University will easily go global and have the students from all parts of the world. An example of the principle of perception is creating a visual identity whereby the University will identify itself as a global university offering quality education. The University also will apply the classical conditioning whereby the courses offered should be put in the adverts while backed up by the explanation of what they specifically offer. In this case, the consumers will be stimulated and have the desire to have their students earn at Widener University. The University will also give an example of the people who have graduated from the university and how they have made it in life. An example of this perspective is using a good image of the courses, buildings, and images that would stimulate the clients to have the desire at the University. Finally, the University applies the instrumental conditioning principle by giving making the customers enjoy some services such as lowering the fee for the most performing students, offsetting the fees for the poor students, and always rewarding the parents who are active in the school. An example is by lowering the fees to the parents every time; they will see it as their advantage and mobilize other people to take their children to Widener University. By applying those principles, Widener University will see itself far in the next ten years.