Higher Education Value Proposition

Extracted Attributes

• Purpose

  To differentiate an institution's brand, position it in the market, and articulate why a prospective student should choose that school over another.

• Concept Type

  Marketing Principle

• Communication

  Should be a clear, concise statement communicated via website and marketing materials, focusing on unique solutions to student pain points and desires.

• Key Components

  Benefits, costs, and value (Value = Benefits - Cost, including economic risk).

• Core Definition

  The full mix of benefits or economic value that educational institutions promise to deliver to current and future students.

• Current Challenges

  Rising tuition costs, increasing student debt, and uncertainties surrounding the usefulness of certain degrees.

• Evolving Landscape

  Impact of technology (e.g., for efficiencies, accessibility, recruitment, retention) and the emergence of a 'Generation Toolbelt' favoring skilled trades.

Timeline

• EdTech Magazine publishes an article titled 'What Is Higher Education’s Value Proposition?', discussing the need to consider technology’s impact on the future of higher education in developing a post-pandemic value proposition. (Source: Web Search Results)

  2022-03-23

• The 'Generation Toolbelt' trend emerges, with individuals increasingly favoring skilled trades over traditional university paths, challenging the established higher education value proposition due to rising costs and debt. (Source: Related Document)

  Ongoing

Value proposition

In marketing, a company's value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, parts thereof, customer accounts, or products and services. Creating a value proposition is a part of the overall business strategy of a company. Kaplan and Norton note:Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation. Developing a value proposition is based on a review and analysis of the benefits, costs, and value that an organization can deliver to its customers, prospective customers, and other constituent groups within and outside the organization. It is also a positioning of value, where Value = Benefits − Cost (cost includes economic risk). A value proposition can be set out as a business or marketing statement (called a "positioning statement") which summarizes why a consumer should buy a product or use a service. A compellingly worded positioning statement has the potential to convince a prospective consumer that a particular product or service which the company offers will add more value or better solve a problem (i.e. the "pain-point") for them than other similar offerings will, thus turning them into a paying client. The positioning statement usually contains references to which sector the company is operating in, what products or services they are selling, who are its target clients and which points differentiate it from other brands and make its product or service a superior choice for those clients. It is usually communicated to the customers via the company's website and other advertising and marketing materials. Conversely, a customer's value proposition is the perceived subjective value, satisfaction or usefulness of a product or service (based on its differentiating features and its personal and social values for the customer) delivered to and experienced by the customer when they acquire it. It is the net positive subjective difference between the total benefits they obtain from it and the sum of monetary cost and non-monetary sacrifices (relative benefits offered by other alternative competitive products) which they have to give up in return. However, often there is a discrepancy between what the company thinks about its value proposition and what the clients think it is. A company's value propositions can evolve, whereby values can add up over time. For example, Apple's value proposition contains a mix of three values. Originally, in the 1980s, it communicated that its products are creative, elegant and "cool" and thus different from the status quo ("Think different"). Then in the first two decades of the 21st century, it communicated its second value of providing the customers with a reliable, smooth, hassle-free user experience within its ecosystem ("Tech that works"). In the 2020s, Apple's latest differentiating value has been the protection of its clients' privacy ("Your data is safe with us").

Web Search Results

• What Is Higher Education's Value Proposition? - EdTech Magazine

  New research from CDW reveals insights from AI experts and IT leaders. Click Here to Read the Report Mar 23 2022 TwitterFacebookLinkedInRedditFlipboardEmailManagement What Is Higher Education’s Value Proposition? ============================================= Developing a post-pandemic value proposition means considering technology’s impact on the future of higher education. Image 11: Joe Simone by Joe Simone [...] Understand these long-term benefits and think about how they contribute to your overall vision. Once you understand your institution’s value proposition, you can more easily communicate it to current and potential students, faculty and staff, and the greater community. _RELATED__: Equipping colleges with sufficient network bandwidth across campus._ Advocating for Technology Investments in Higher Ed -------------------------------------------------- [...] Now more than ever, higher education leaders recognize the value of technology and must reassess their priorities and investments to continue to make the biggest impact. Beyond creating efficiencies and improving accessibility, robust tech investments also are great recruitment and retention tools and contribute to overall student success and workforce development.

• Creating Higher Ed Value Propositions and Examples

  Having a clear and relevant value proposition matters because it articulates why a prospective student should come to your school over another school. It allows you to have clarity of message and easily communicate your value to a prospective student, which in turn should help you increase enrollment while reducing costs. Without this clear message, there is nothing to help your school stand out from all the rest, making it more difficult to attract the kinds of students you want. [...] You are even if you don’t think your university offers anything unique; your students chose you for a reason. All you need to do is dig deep to understand why that is, and then invest in further developing those services or features, creating a value proposition roadmap that will help you become synonymous with your unique value proposition over time, effortlessly attracting the right students year on year. [...] Like any other business, universities can and must identify what makes them stand out from other universities – what makes them unique. This uniqueness is what we call your “value proposition.” ### Why identify your university value proposition?

• How to Craft a Value Proposition for Your School (With Examples)

  A value proposition is a statement that describes the benefitsstudents and families can expect from attending your school, why your school is a better choice than the alternatives, and how your school helps a student or family solve a pain problem or fulfill their utmost desire, through your school's unique solutions. A value proposition is not a slogan, a mission statement, a positioning statement, or a list of offerings and features. It is a concise statement that answers the most important [...] In this example, Our Lady of Good Counsel High School focuses on proving their students feel welcome by backing up their awesome value proposition with three video testimonials. Come Belong - OLGCHS Value Prop Come Belong - OLGCHS Value Prop Seacrest Country Day School in Naples, FL focuses on "small classroom, big experiences,". This value proposition is brought to life by the photo of students on a boat at sea — an experience definitely unique to Seacrest! [...] Vague statements like those get lost in the crowd — especially today. Articulating exactly why an applicant should choose your school — and not your competitor — can be more difficult than it seems. It requires an understanding of who your ideal audience is, what their pain points and goals are, and how your school helps them achieve those goals while alleviating pain points. The clear and concise statement you create to engage your audiences is called your "value proposition."

• Understanding the Value of Higher Education: Why is College ...

  While college undoubtedly offers numerous advantages, such as enhanced career prospects, skill development, and personal growth, the surge in tuition fees and uncertainties surrounding the usefulness of certain degrees have cast a shadow of doubt on the value of this investment. At the end of the day, it’s important to remember that personal ambitions and circumstances mold the worth of college. The essence lies in making informed decisions that resonate with your long-term goals. [...] Attending college and choosing the right major can lead to increased career opportunities as many professions require advanced degrees, which can be obtained through higher education. In fact, according to a report published in 2022 by the National Center for Education Statistics, individuals holding a college degree enjoy better employment opportunities than those with lower educational achievements. The study revealed that individuals with Bachelor’s degrees or advanced degrees exhibited [...] Higher education equips individuals with specialized knowledge and skill sets that are often prerequisites for many professional roles. It also provides access to networking opportunities, internships, and other resources to enhance employability. ### Is college necessary for acquiring specialized skills in a particular field?

• Higher Education in the Twenty-First Century: What's the Mission?

  But articulating a central mission is just one piece of the puzzle. As the value of higher education is being currently questioned, doubted, and scrutinized around the world, we believe that it is crucial for institutions not only to think deeply about mission, but also to align stakeholders around the facets of the mission. Alignment occurs when the expectations and goals of all stakeholders (in this case, students, professors, administrators) are in sync with one another and when they are