Education helps one cease being intimidated by strange situations.
—Maya Angelou
The Lawlor Review is a critically acclaimed education marketing journal that provides insightful, pertinent commentary about marketing and brand management issues facing higher education today.
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Old-school marketing executives and new-school social media professionals alike learned the “4 P’s” early in their careers: the marketing mix of price, product, promotion, and place. While marketers have added to and tinkered with these pillars (conceiving of “7 P’s” and “4 C’s,” among other variations), the original 4 P’s have largely stood the test of time. However, the digital revolution and other emerging marketplace forces are calling into question the continued viability of a formula created half a century ago.
Dawn Lerman is professor of marketing at Fordham University (New York) and director of its Center for Positive Marketing. The Center conducts research that explores marketing as a value exchange relationship between consumers and marketers and encourages leveraging this relationship for mutual benefit. Lerman’s own expertise is in the field of consumer behavior, with particular emphasis on consumer language processing.
Higher education has been a remarkably stable industry, existing in more or less the same form for some 750 years. However, there are those who say online teaching and learning could drastically alter that, ushering in the kind of “disruptive innovation” that fundamentally redefines our notions of what constitutes post-secondary education. Skeptical college administrators may be wise to heed the experience of the head of Digital Equipment Corporation, who famously opined in 1977 (the year that the Apple II was introduced), “There is no reason anyone would want a computer in their home.”
As the nation’s unemployment rate hovers near 9 percent and the economy continues to stagnate, admissions officials across the country are well aware that the moribund economy isn’t going to spring to life any time soon. Within the framework of this year’s flat (and the looming threat of a declining) economy, colleges are adjusting to the long-term reality of a “new normal”—a reality that demands colleges work smarter, harder, and more efficiently than ever.
Richard A. DeMillo spent several years as a business executive—he was Hewlett-Packard’s first chief technology officer—before becoming Distinguished Professor of Computing at the Georgia Institute of Technology. His latest book, Abelard to Apple: The Fate of American Colleges and Universities, warns that today’s higher education institutions are facing disruptive forces that will require them to either change or risk irrelevance and marginalization.
News headlines remind us daily that the job market is still slow, personal debt continues to rise, most people are seriously anxious about the future, and many Americans are beginning to question the value of a college degree. Three years after the global economic meltdown, outcomes have become the gold standard for measuring a college’s worth.