Promotion optimization for universities with dynamic programing
DOI:
https://doi.org/10.15170/MM.2019.53.01.07Keywords:
higher educational marketing, student recruitment, promotion optimization model for universities (UNIPOM)Abstract
THE AIMS OF THE PAPER
The aim of the present study is the detailed description of such a promotion optimization model for universities (UNIPOM) that makes possible to set up the most effective marketing communication mix in case of scarce financial resource with the help of the software created for this purpose.
METHODOLOGY
Longitudinal investigation, focus group interview, survey carried out with questionnaire, in-depth interview, knapsack (0-1), dynamic programing
MOST IMPORTANT RESULTS
Most important results of the research is such a longitudinal data that could give me a full picture about the information gathering habits of the potential students about their admission and their university choice in each month of the year that is when, how, and with which communication tools are the most effective to reach them. In this way, knowing the effectiveness and prices of each tool, it is also possible to set up the most effective marketing mix even in case of scarce budget. This can be achieved by the university promotion optimization software (UNIPOM) that can realize an effectiveness above 90% from half of the budget needed for the purchase of all tools used for student recruitment.
RECOMMENDATIONS
It is important to mention that the optimization model for universities detailed in the present study was created with decision support goal for the specialists dealing with student recruitment in higher education and I hope they will find my research useful for the creation of a successful student recruitment campaign and giving a base for their strategy.
