Key Factors in Selecting Economic Higher Education Institution: Republic of Moldova Case Study

Abstract

Economic higher education institutions in the country operate in an extremely complex and dynamic environment, characterized by demographic decline of the population, mass emigration of the younger population, high level of competition on the national and international markets, quantitative reduction in the demand for higher education services and the change of its structure, etc. The challenges from the external environment bring to the attention of university management the need to develop effective marketing strategies for the attraction and retention of students. The success of this approach largely depends on the awareness of potential students’ motivations for applying to a training program and the criteria for choosing the university. Understanding the expectations and preferences of potential customers allows the design and development of more relevant educational programs and services, the development of effective communication strategies, that help recruit and retain a sufficient number of students to achieve the educational and financial goals. In this vein, the present study aims to analyze the existing behavioral models to identify the determinants that influence the university selection process by potential students. At the same time, the paper presents the results of the survey carried out in order to identify the key factors used by Moldovan students in the process of choosing the training program and the economic education provider. This study is part of a complex descriptive research on the behavior of consumers of economic higher education services. UDC: 378.4(478); JEL: M31, M37, I23; DOI: https://doi.org/10.53486/2537-6179.9-1.07