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NYU Stern School of Business

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If New York: Which school? ... Stern's Brand Identity: In and of New York ... Case studies (Met, Mets) SCC, IDP. International Treks ... – PowerPoint PPT presentation

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Title: NYU Stern School of Business


1
  • NYU Stern School of Business
  • Brand Strategy Presentation
  • December 2, 2004

2
Sterns Key Strategic Brand Objectives
According to Sterns Administrative Leaders
  • Secure a place among the worlds 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

3
Brand Strategy Equation
4
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 (Full-time)
Current Students (Langone)
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
5
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
6
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.

7
Blueprint for a Top 5 Business School Brand
  • Functional area leadership
  • School experience
  • Outcome

Unique Elements
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.

8
Student MotivationsUnderstanding the Levers
Which Business School?
  • The Stern brand must tap both rational and
    emotional motivations.

9
Influencing the Decision Process Touchpoints
  • Location Where do I want to go to business
    school?
  • Sterns Opportunity Sell the benefits of
    pursuing an MBA in NYC to increase applicant pool
  • If New York Which school?
  • Sterns 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)

10
Recruiter MotivationsUnderstanding the Levers
Which Business School?
Why MBAs?
  • The Stern brand must encompass the MBA brand
    while differentiating itself to deliver added
    value for recruiters.

11
Sterns 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.

12
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.

13
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 thats valued
  • Reasons to Believe
  • Networking events
  • Mentorship (IDP, CAP, STAMP)
  • CCWP

14
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 thats valued
  • Prove the Claim Needs
  • More faculty/student interaction
  • Alumni outreach programs
  • Raise awareness/showcase value of network
  • Greater sense of joint responsibility

15
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

16
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

17
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 were already delivering on
    the brand and how were not and foster
    consensus and commitment toward creating new
    initiatives to strengthen the Stern brand.
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