One could argue that a University generally - and the Graduate Business Programs

Question

One could argue that a University generally - and the Graduate Business Programs specifically mirror the aforementioned contrast - The university is the "big company" and the Graduate Business Division is the "entrepreneur."

In this framework, can you visualize the Graduate Business Division successful regarding innovation? Marketing of products?

Can a Master's Degree be considered on the "product life cycle"? Why or why not?

Outside of eliminating a program, what other "tweaks" could the Division make to optimize the degree (in line with product lifecycle approach)? Is changing the degree program name truly an advantageous strategy, for example? Or, could the existing name be leveraged in different niches in which it may resonate?

Explanation / Answer

Answer:

One could argue that a University generally - and the Graduate Business Programs specifically mirror the aforementioned contrast - The university is the "big company" and the Graduate Business Division is the "entrepreneur."

In this framework, yes, we can visualize that the Graduate Business Division successful regarding innovation and marketing of products as below.

Innovations: The Graduate Business Division is the innovations because there are many new ideas are innovated during the graduate business division and many new ideas are being explores for improving the graduate business division. Since it uses many ideas and the ideas are keep changing with time, hence we can say that it is a good example of innovation.

Marketing of products: the graduate business division is the marketing of products for the university – the big company. Because the success of graduate business division is marketing the university likes a company and the university gets more students enrolment for the admission in the next future courses for graduate business. Thus we can say that graduate business division is making the marketing of the education benefits in the market like marketing of products and the university gets the benefits like the company gets the benefit from product marketing.

Yes, Master's Degree can be considered on the "product life cycle" because it makes the complete cycle of education and the master degree is the end of education product life cycle. The education product starts at the primary education level i.e. infant level and it then grows till higher secondary level of education and then it matures at graduation level and master degree level and then it terminates from masters degree level. Thus we can considered it as product life cycle.

Outside of eliminating a program, the other "tweaks" could the Division make to optimize the degree is they can go for products differentiation of degree products, so that they will get better life in the degree program and the maturity will get shifted to future timelines.

I think, changing the degree program name truly an advantageous strategy because this will help to get new attraction for the degree program as in line with the market trend. The changing the degree name will help in better influencing the students with respect to the market trend.

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