The Critical Questions Section Up To Two Pages Will Include

The Critical Questions Section Up To Two Pages Will Include The Foll

The Critical Questions section (up to two pages) will include the following: From a marketing perspective based on Price and Product at Texas Christian University (TCU), develop two critical questions that will help answer how to create value within its industry. In constructing your critical questions, think about how DeVoe School of Business Virtuous Business Model could influence TCU and its stakeholders within its industry. Add least one critical question should have some element of diversity, equity, and/or inclusion. Under each critical question, fully explain in a paragraph how it can help answer, from a marketing perspective, how the TCU can best create value within its industry, and identify which stakeholder group(s), e.g., stockholders, employees, customers, community, etc., is(are) affected by this critical question.

Based on your two critical questions on Price and Product at Texas Christian University (TCU), propose two marketing strategies that will best help the organization increase the creation of value for its stakeholders. Include details for each strategy (for example: goals, objectives, action steps, protocols, resources, metrics to measure, definition of terms, etc.). Please make sure you cite your information or it will not be accepted. Under each marketing strategy, fully explain how the strategy will help create value and how the strategy is aligned with the Business Virtuous Business Model. See the attachments on how questions should be formatted. Remember, information must also be Cited, or the paper will not be accepted.

Paper For Above instruction

Creating value within the higher education industry, particularly at institutions like Texas Christian University (TCU), involves understanding the interplay between pricing strategies and product offerings, all while aligning with overarching ethical and societal values encapsulated by the DeVoe School of Business Virtuous Business Model. This model emphasizes integrity, sustainability, stakeholder engagement, and social responsibility, which are essential components for fostering long-term value creation and competitive advantage in the competitive landscape of higher education.

Critical Question 1: How can TCU strategically leverage its pricing policies to enhance accessibility and affordability while maintaining financial sustainability?

This question investigates how TCU can optimize its pricing to attract a diverse student body without compromising the financial health of the institution. From a marketing perspective, the answer hinges upon balancing perceived value with affordability, ensuring that tuition fees reflect both quality education and accessibility. By developing and communicating a coherent pricing strategy that incorporates financial aid, scholarships, and flexible payment options, TCU can position itself as a value-driven institution committed to inclusivity. This directly influences stakeholders such as prospective students and their families by addressing concerns around affordability, while also satisfying current students and alumni who value the institution’s social responsibility. Additionally, the administration, faculty, and staff are impacted as well, as sustainable pricing models ensure ongoing investments in educational quality and campus improvements.

Critical Question 2: In what ways can TCU innovate its product offerings to promote diversity, equity, and inclusion, thereby creating greater value for underrepresented groups and the broader community?

This question emphasizes the importance of integrating diversity, equity, and inclusion (DEI) into TCU’s core educational products and services. From a marketing standpoint, it guides the university to develop curricula, programs, and campus initiatives that reflect societal diversity and promote social justice. Addressing this question can help TCU foster a more inclusive campus environment, which enhances its reputation and appeal among prospective students and external partners committed to social responsibility. Stakeholders affected include students, faculty, community partners, and donors, all of whom benefit as the institution exemplifies ethical leadership and prepares learners for a diverse global workforce. Embedding DEI into the university’s product offerings aligns with the Virtuous Business Model’s emphasis on social impact, creating competitive value while upholding moral responsibilities.

Marketing Strategy 1: Implement Tiered Tuition Pricing with Emphasis on Financial Aid

This strategy aims to increase affordability and access by creating a tiered tuition model that offers different levels based on need and merit, supplemented by comprehensive financial aid programs. Goals include expanding access to underrepresented and economically disadvantaged students, thereby increasing diversity among the student body. Action steps entail conducting market research to identify target demographics, developing scholarship and aid packages, and communicating these benefits effectively through targeted campaigns. Protocols involve regular evaluation of financial aid effectiveness and student satisfaction, with resources allocated toward marketing communications, scholarship funds, and counseling services. Metrics for success include enrollment rates of diverse student populations, retention and graduation rates, and student satisfaction surveys. This strategy fosters value creation by broadening TCU’s access and strengthening its reputation for social responsibility, aligning with the Virtuous Business Model’s focus on stakeholder welfare and ethical growth.

Marketing Strategy 2: Develop Inclusive Academic and Extracurricular Programs

This strategy centers on designing and promoting programs that advance diversity, equity, and inclusion—such as multicultural curricula, service learning projects in diverse communities, and leadership initiatives for underrepresented groups. The goal is to enhance the university’s product offerings to be more inclusive and socially impactful. Action steps include collaborating with diverse community organizations, updating curricula to reflect diverse perspectives, and marketing these programs through social media and campus events to attract students, faculty, and external partners committed to social justice. Protocols involve ongoing assessment of program impact on student engagement and community relations, with resources allocated to faculty training, community partnerships, and marketing efforts. Metrics for measurement encompass program participation rates, qualitative assessments of inclusivity, and reputation metrics. This approach helps TCU demonstrate social responsibility, attract a broader applicant pool, and foster a campus climate aligned with the principles of the Virtuous Business Model, ultimately creating substantial value for students, faculty, and community stakeholders.

Conclusion

By critically examining pricing and product strategies through the lens of the DeVoe School of Business Virtuous Business Model, TCU can enhance its value proposition in the higher education industry. Emphasizing affordability and access, coupled with inclusive product offerings, aligns the university’s strategic initiatives with ethical principles and stakeholder interests. The proposed marketing strategies underscore the importance of ethical leadership, social responsibility, and stakeholder engagement—cornerstones of a sustainable and virtuous educational institution. Through diligent implementation and ongoing assessment, TCU can position itself as a leader in delivering value that benefits students, community, staff, and the broader society.

References

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