The role and importance of marketing tools in the sustainable development of domestic universities

Abstract

Despite a significant reduction in the number of universities in our country, this sector of educational activity is represented by a sufficient number of private and public universities, which form a serious competitive environment, which is strengthening for public universities, along with a narrowing of the number of budget places in many profiles and areas of the higher education. The market orientation towards consumers of educational products and services becomes relevant, which strengthens the confidence in the expediency and timeliness of the use of marketing tools and the concept of benchmarking in order to ensure competitive advantages of domestic universities, both private and public ones. It is obvious that in today's competitive environment, universities must constantly monitor and satisfy needs and desires of their target group of consumers, as well as their goals to maintain their presence, as it is customary in the practice of the business environment. A business can produce products and services that, in its opinion, will be unlike its competitors and completely suitable for its consumers. However, if consumers are not aware of these products and services or are not satisfied with their use, this will complicate the sales efforts of any business. In the same way, when planning and implementing all their activities, higher education institutions should carry out consumer-oriented marketing activities that meet the consumers’ needs.