The Theoretical Analysis of the Allocation of Family Control Rights B Oc17 2014 | Page 3
J. Cai, T. Loo
know the quality of the education that will be received prior to entering the university. Students can only fall
back on cues, such as the physical outlook of the campus or the calibre of its faculty, as indications of what their
education experience might be like. This lack of reliable measurements to gauge the quality of education makes
it most difficult for potential students to decide on which university to choose (Harvey & Busher, 1996).
When intrinsic cues are unknown or not available, consumers often evaluate products and services by using
extrinsic cues, such as reputation of the institution, or the country of origin of a product or service (Ahmed &
d’Astous, 1996; Bilkey & Nes, 1982; Chao, 1989). A well-known brand name and a reputation for quality are
consequently significant sources of competitive advantage (Aaker, 1996) for a marketer. It is often the university’s perceived excellence which guides the decisions of prospective students and staff (Kotler & Fox, 1995).
The success of Ivy League institutions