IMPACT OF MARKETING INSTRUMENTS ON CHOICE OF HIGHER EDUCATION INSTITUTIONS

Univerzitet u Istočnom Sarajevu, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Abstract

Higher Education in Bosnia and Herzegovina is placed in a new dimension under the influence of globalization and trends in the services market on a worldwide basis. Universities are beginning to think commercially. The role of the universities in this regard will further increase due to the development of "knowledge-intensive" economy and society, and the increasing focus on information and knowledge in all sectors and social system. Given that these institutions are based on knowledge, they must play a key role in the change and development of society by forming human capital through adequate education of students. Due to the decrease in the number of students, increasing the number of private colleges and universities and the reduction of income of budget funds to educational institutions, there is no other choice for higher education institutions but to accept marketing concept in their business. Since the satisfaction of students in the field of teaching quality, which is directly related to attracting new students, is a source of income for universities, marketing concept can mean a condition of survival. Satisfied user and customer of education means better image of higher education institution. New academic environment is characterized by radical and discontinuous changes and requirements for the creation of new knowledge for the purpose of acquiring benefits. Pay attention to all instruments of marketing mix, and find the best deal for their application, can only give the best results. This paper explores the impact of marketing instruments on the choice of higher education institutions, from the viewpoint of students of the University of East Sarajevo.

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