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NYU Stern School of Business Brand Strategy Presentation December 2, 2004. Stern’s Key Strategic & Brand Objectives. According to Stern’s Administrative Leaders:. Secure a place among the world’s top five business schools within a decade

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nyu stern school of business brand strategy presentation december 2 2004
NYU Stern School of Business

Brand Strategy Presentation

December 2, 2004

stern s key strategic brand objectives
Stern’s Key Strategic & Brand Objectives

According to Stern’s Administrative Leaders:

  • Secure a place among the world’s top five business schools within a decade
  • Deliver the highest quality business education on the forefront of management thought and practice
  • Maintain an enduring, mutually enriching and intellectually stimulating relationship with alumni and community of thought leaders worldwide
  • Redefine the business school competitive set and become the dominant institution in the category
  • Develop a distinct and compelling brand identity that will set Stern apart from its peers
brand strategy equation

Loyalty/Reputation

Brand Promise

+

Delivery

=

Acquisition

Infrastructure(Go To Market Strategy)

Retention

  • Marketing
  • Messages
  • Collateral
  • Programs
  • Services
  • People
  • Systems
  • Alumni giving & participation
  • Recruiter opinion
  • Ranking

Breeds Acquisition

Brand Strategy Equation
methodology internal audit conducted by dig
Methodology: Internal Audit conducted by Dig

Faculty/Administrator Interviews

Bruce Buchanan

Sam Craig

Thomas Cooley

Kim Corfman

Richard Freedman

Gary Fraser

Kerry Kruckel Gibbs

Joanne Hvala

Halina Karachuk

Suzette Lemson

Rosemary Mathewson

Elizabeth Morrison

Julia Min

Marco Protano

Anthony Saunders

Joel Steckel

Russell Winer

Eitan Zemel

Focus Groups

Current Students

(Langone)

Current Students

(Full-time)

Alumni

Online Student Survey

Included 420 students from Part-Time and Full-Time Programs

Materials Reviewed

Strategic Planning Documents Internal Communications Vehicle Review

Information Session Video and Presentation Advertising Campaigns

External Communications Vehicle Audit Stern Newspaper / Stern Business

Admissions Tracking / Satisfaction Studies Comprehensive Collateral Review

Publication Rankings (BW, WSJ, FT, etc.) Previous Focus Group/Survey Results

methodology external audit conducted by dig
Methodology: External Audit conducted by Dig

Recruiter Interviews

Citigroup McKinsey & Company Merrill Lynch

Deloitte Consulting McGraw-Hill

NYU Interviews

Professor Norman Dorsen - Law School

Information Session Attendance

Chicago Fuqua

Columbia Wharton

Materials Reviewed

Publication Rankings (BW, WSJ, FT, Econ.) WSJ Guide to Top Business Schools

The Best Business Schools (BW) Which MBA? (Economist)

Competitor Alumni Interviews MBA Insider (BW Online)

Competitor Collateral & Web Site Review Mystery Shopping

Desktop Research (e.g., Business 2.0, WSJ) GMAC Research

business school cost of entry
Business School Cost of Entry
  • Top business schools are using identical tactics to stay competitive

Recruiting the most promising faculty

Strength across disciplines

Attracting top students

Developing strong, ongoing relationships with alumni

Building relationships with prestigious recruiters

Competitive endowment

  • Key Stern competitors are employing these tactics, as they are the “cost of entry” to be considered a top school
  • Success in any of these areas cannot be “owned” by Stern.
  • Top business schools leverage these and position on other differentiators.
blueprint for a top 5 business school brand
Blueprint for a Top 5 Business School Brand

Unique

Elements

  • Functional area leadership
  • School experience
  • Outcome

Differentiated

Compelling

  • Great faculty
    • Thought leadership
    • Teaching
  • Consistency of student talent
  • Strength across disciplines
  • Robust recruiting relationships
  • Engaged and developed alumni network
  • Competitive endowment

Relevant

Credible

Sustainable

Cost of

Entry

Elements

  • Stern needs to level the playing field on cost of entry requirements to compete.
  • We should differentiate on an experience that is grounded in an outcome, as opposed to an experience for its own sake.
slide8

1

2

Why Business School?

Which Business School?

  • Location
  • Reputation
  • Career options
  • Networking
  • Education quality
  • Community/fit
  • Self-image
  • Career change & enhancement
  • Broaden skill set
  • Networking
  • Job placement

Student Motivations—Understanding the Levers

Which Business School?

  • The Stern brand must tap both rational and emotional motivations.
influencing the decision process touchpoints
Influencing the Decision Process: Touchpoints
  • Location: Where do I want to go to business school?
    • Stern’s Opportunity: Sell the benefits of pursuing an MBA in NYC to increase applicant pool
  • If New York: Which school?
    • Stern’s Opportunity: Position the Stern MBA experience as one that leverages New York City, which leads to the delivery of the best outcome (short-and long-term)
slide10

1

2

Which Business School?

  • Strategic thinking and analytical skills
  • Previous relevant work experience
  • Leadership potential
  • Advanced business education
  • Pre-screened
  • Reputation
  • Internal Alumni support
  • Location
  • Past recruiting experience

Recruiter Motivations—Understanding the Levers

Which Business School?

Why MBAs?

  • The Stern brand must encompass the “MBA brand” while differentiating itself to deliver added value for recruiters.
stern s brand identity in and of new york
Stern’s Brand Identity: In and of New York

A one-of-a-kind experience, characterized by active engagement with NYC, that delivers on outcome during your time at Stern, right after graduation and for a lifetime.

A brand identity infused with a sense of community, realism and dynamism that you can only get in NYC at NYU Stern.

value propositions positioning
Value Propositions/Positioning
  • For prospective/current students:
    • NYU Stern is the only elite business school that delivers both the unmatched educational and career benefits of New York and a community-oriented experience that creates leaders, team players and a network for life.
  • For recruiters:
    • NYU Stern is the only elite business school delivering “street smart” leaders with exceptional interpersonal skills who offer both MBA knowledge from the classroom and real-world expertise from the New York learning experience.
slide13

In & Of

New York

REALISM

COMMUNITY

DYNAMISM

Stern Today:

The Student Perspective

  • Characteristics
  • Integrated theory & application
  • Street smart & book smart
  • Global consciousness
  • Benefits
  • Real-world, higher-level knowledge & skills
  • Global perspective
  • Reasons to Believe
  • Case studies (Met, Mets)
  • SCC, IDP
  • CEO Series, Lunch Series
  • Passport Day
  • Student conferences
  • Adjunct faculty/guest speakers
  • International programs
  • Finance strength
  • Diverse student body
  • Characteristics
  • Forward-looking & progressive
  • Business thought-leadership
  • Not complacent; no laurels
  • High energy & fun
  • Benefits
  • Cutting edge knowledge
  • Leadership skills
  • Reasons to Believe
  • NYC Initiatives
  • Nobel Laureate
  • CCWP
  • Stern faculty in the news
  • Game theory course
  • Langone calendar
  • Characteristics
  • Connected with business world
  • Connected with each other
  • School = partnership
  • Supportive community
  • Benefits
  • Lifelong network & career support
  • A voice that’s valued
  • Reasons to Believe
  • Networking events
  • Mentorship (IDP, CAP, STAMP)
  • CCWP
slide14

In & Of

New York

REALISM

COMMUNITY

DYNAMISM

Stern Today:

The Student Perspective

  • Characteristics
  • Integrated theory & application
  • Street smart & book smart
  • Global consciousness
  • Benefits
  • Real-world, higher-level knowledge & skills
  • Global perspective
  • Prove the Claim: Needs
  • Institutionalize/build volume
  • Unique partnerships w/NY businesses
  • NY-focused case studies
  • First-rate speakers bureau
  • Global activities
  • Strengthen non-finance areas
  • Characteristics
  • Forward-looking & progressive
  • Business thought-leadership
  • Not complacent; no laurels
  • High energy & fun
  • Benefits
  • Cutting edge knowledge
  • Leadership skills
  • Prove the Claim: Needs
  • Methods/systems of adapting to challenging environment
  • Proactivity
  • More high visibility scholars
  • More new programs
  • More courses on hot issues
  • More high profile speakers
  • Leadership development
  • Characteristics
  • Connected with business world
  • Connected with each other
  • School = partnership
  • Supportive community
  • Benefits
  • Lifelong network & career support
  • A voice that’s valued
  • Prove the Claim: Needs
  • More faculty/student interaction
  • Alumni outreach programs
  • Raise awareness/showcase value of network
  • Greater sense of joint responsibility
slide15

In & Of

New York

REALISM

COMMUNITY

DYNAMISM

Stern Today:

The Recruiter Perspective

  • Characteristics
  • Integrated theory & application
  • Balance of street smart & book smart
  • Global exposure
  • Benefits
  • Leader & team player in one
  • MBA + real-world savvy
  • Interaction with business leaders
  • Global perspective
  • Reasons to Believe
  • Case studies (Met, Mets)
  • SCC, IDP
  • International Treks
  • Additional staff to support international objectives
  • Characteristics
  • Progressive environment
  • Business thought-leadership
  • Constantly evolving
  • Benefits
  • Students with cutting edge knowledge & creativity
  • Innovative services
  • Reasons to Believe
  • Career Development Program
  • Prominent faculty
  • Characteristics
  • Connected with business world
  • Collaborative environment
  • Corporate partnership with school
  • Benefits
  • Service-oriented office
  • Supportive community
  • Opportunities to interact with students
  • Students with established networks
  • Students who know renowned experts
  • Students who work well in teams
  • Reasons to Believe
  • Mentorship programs
  • CCWP
  • Networking events
slide16

In & Of

New York

REALISM

COMMUNITY

DYNAMISM

Stern Today:

The Recruiter Perspective

  • Characteristics
  • Integrated theory & application
  • Balance of street smart & book smart
  • Global exposure
  • Benefits
  • Leader & team player in one
  • MBA + real-world savvy
  • Interaction with business leaders
  • Global perspective
  • Prove the Claim: Needs
  • Consistent quality
  • Proactive & prepared
  • Strong communication skills
  • Higher level of confidence
  • Characteristics
  • Progressive environment
  • Business thought-leadership
  • Constantly evolving
  • Benefits
  • Students with cutting edge knowledge & creativity
  • Innovative services
  • Prove the Claim: Needs
  • Strong communication skills
  • Higher level of confidence
  • Characteristics
  • Connected with business world
  • Collaborative environment
  • Corporate partnership with school
  • Benefits
  • Service-oriented office
  • Supportive community
  • Opportunities to interact with students
  • Students with established networks
  • Students who know renowned experts
  • Students who work well in teams
  • Prove the Claim: Needs
  • “Stern promoters”
  • Networking skills
  • Greater use of networks
moments of truth
Moments of Truth
  • To support the brand promise, “In and of New York,” Stern must infuse the NYC experience into everything that is Stern — from the curriculum, to faculty research to career opportunities — to create a differentiated and sought after Stern experience that delivers on outcome.
  • We need to assess how we’re already delivering on the brand — and how we’re not — and foster consensus and commitment toward creating new initiatives to strengthen the Stern brand.