Understanding the Four Ps of University Marketing

Knowing the Four Ps—Product, Price, Place, and Promotion—can really help universities market themselves better. This way, they can stand out in a competitive world. Each of these parts is important for how universities connect with students.

Product

When we talk about "Product" in university marketing, we mean what they offer, like degree programs, certificates, and chances for research. Universities need to look at what they teach to make sure it meets what students want.

For example, a report says that from 2017 to 2027, more students are expected to enroll in STEM (Science, Technology, Engineering, and Mathematics) fields. Universities that focus on these popular areas can attract more students.

Key Statistics:

• 70% of students looking to go to college consider a university’s reputation important.
• 38% want schools that provide new and flexible learning options.

Price

When it comes to price, universities should think about both the tuition fees and the overall value of the education. According to the College Board, the average cost for the 2021-2022 school year was $10,740 for public colleges and$38,070 for private colleges. Universities should understand how much students are willing to pay and what financial aid options are available. Schools that give good financial aid often see enrollment go up by 20%.

Key Statistics:

• 60% of students say affordability is a big factor in choosing a university.
• Schools that offer good scholarships see a 37% increase in applications.

Place

The "Place" part looks at the university’s location, how easy it is to access, and online education options. With online learning becoming more popular, schools need