Economic value for university services: modelling and heterogeneity analysis

The study described here develops a perceived value model, from the alumni's perspective, to determine the sources of economic value universities must focus on to enhance satisfaction, organisational image and identification.
Sánchez-Fernández, Jiménez-Castillo and Iniesta-Bonillo

Introduction

In their role as entities for lifelong learning, institutions of higher education constantly attempt to improve and differentiate their services. Accordingly, a k2011). However, measuring perception of university services still remains a major challenge because of the abstract qualities of the service concept in education. A critical issue in the evaluation of university services is analysis of the perceived by the users of those services. The importance of this topic is threefold. First, analysis and assessment of perceived value enable service providers to actively contribute to users’ experiences and value creation (Grönroos & Ravald 2011), which are core factors for institutions to be able to create or maintain a competitive advantage based on organisational distinctiveness. Second, perceived value also helps explain the relationship between universities and their main targets (Sakthivel & Raju 2006; Alves 2011). Third, the analysis of perceptual variables such as value is critical for an effective segmentation strategy. Segmentation is decisive to the viability of universities (Durango-Cohen & Balasubramanian 2015), and to designing differentiated strategies and actions addressing each target.

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