Abstract

Materials/methods – To achieve this, the research systematically examined peer-reviewed articles published in reputable journals. A search query that incorporated important terms such as financing of HEIs, students as customers, and price-setting approaches was applied to a number of databases. Data about 15 private and state universities was collected from reliable sources and the current situation in private and state Azerbaijani universities was discussed.

Results – Private universities in Azerbaijan should apply marketing strategies more and pay attention very carefully to their price-setting approach in order to attract more students and survive in the current marketplace. Price/tuition fee-setting policies for all universities in Azerbaijan should be prepared and approved by the government in order to prevent artificially increased prices.

Conclusion – This study makes a unique contribution to Azerbaijani science, and may also be a valuable resource for researchers interested in higher education marketing in Azerbaijan.

Keywords: Universities, tuition fee, price setting, Azerbaijan, university marketing

Andrews, R. J., & Stange, K. M. (2019). Price Regulation, Price Discrimination, and Equality of Opportunity in Higher Education: Evidence from Texas. American Economic Journal: Economic Policy, 11(4), 31-65. https://doi.org/10.1257/pol.20170306

Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2005). Principles of marketing. Pearson Education.

Chapleo, C. (2011). Exploring rationales for branding a university: Should we be seeking to measure branding in UK universities? Journal of Brand Management, 18(6), 411-422. https://doi.org/10.1057/bm.2010.53

Eftimov, L., Trpeski, P., Gockov, G., & Vasileva, V. (2016). Designing a balanced scorecard as strategic management system for higher education institutions: A case study in Macedonia. Ekonomika, 62(2), 29-48. https://doi.org/10.5937/ekonomika1602029e.

Gillespie Finney, T., & Finney, R. Z. (2010). Are students their universities’ customers? An exploratory study. Education+ Training, 52(4), 276-291. https://doi.org/10.1108/00400911011050954

Goksu, A., & Goksu, G. G. (2015). A Comparative Analysis of Higher Education Financing in Different Countries. Procedia Economics and Finance, 26, 1152-1158. https://doi.org/10.1016/s2212-5671(15)00945-4

Guilbault, M. (2018). Students as customers in higher education: The (controversial) debate needs to end. Journal of Retailing and Consumer Services, 40, 295-298. https://doi.org/10.1016/j.jretconser.2017.03.006

Johnstone, D. (2003). Cost Sharing in Higher Education: Tuition, Financial Assistance, and Accessibility in a Comparative Perspective. Sociologický časopis/Czech Sociological Review, 39(3), 351-374. https://doi.org/10.13060/00380288.2003.39.3.04

Little, M. W., O’Toole, D., & Wetzel, J. (1997). The Price Differential’s Impact on Retention, Recruitment, and Quality in a Public University. Journal of Marketing for Higher Education, 8(2), 37-51. https://doi.org/10.1300/j050v08n02_04

Loomis Hubbell, L. W., Massa, R. J., & Lapovsky, L. (2002). Using benchmarking to influence tuition and fee decisions. New Directions for Higher Education, 2002(118), 39-64. https://doi.org/10.1002/he.55

Marcucci, P. N., & Johnstone, D. B. (2007). Tuition fee policies in a comparative perspective: Theoretical and political rationales. Journal of Higher Education Policy and Management, 29(1), 25-40. https://doi.org/10.1080/13600800600980015

McPherson, M. S., & Schapiro, M. O. (1999). The student aid game: Meeting need and rewarding talent in American higher education. Princeton University Press.

Melnikov, S. V. (2015). Dynamic monopoly pricing under the reference price effect. Проблеми економіки, 1, 361-365. http://nbuv.gov.ua/UJRN/Pekon_2015_1_47

Miller, B. (2010). The price of higher education: how rational is British tuition fee policy? Journal of Higher Education Policy and Management, 32(1), 85-95. https://doi.org/10.1080/13600800903440576

Mohd Amir, A., Md Auzair, S., Maelah, R., & Ahmad, A. (2016). Pricing for higher education institutions: a value-based approach. International Journal of Educational Management, 30(6), 929-940. https://doi.org/10.1108/ijem-08-2015-0110

Naylor, R., Dollinger, M., Mahat, M., & Khawaja, M. (2020). Students as customers versus as active agents: conceptualising the student role in governance and quality assurance. Higher Education Research & Development, 40(5), 1026-1039. https://doi.org/10.1080/07294360.2020.1792850

Neill, C. (2009). Tuition fees and the demand for university places. Economics of Education Review, 28(5), 561-570. https://doi.org/10.1016/j.econedurev.2009.01.002

Rekettye, G., & Liu, J. (2018). Pricing: The New Frontier. Transnational Press.

Rekettye, G., & Pozsgai, G. (2015). University and place branding: The case of universities located in ECC (European Capital of Culture) cities. Ekonomski vjesnik: Review of Contemporary Entrepreneurship, Business, and Economic Issues, 28(S), 13-24.

Rekettye, G., & Rappai, G. (2012). How to Set Tuition Fees at Public Universities in Hungary. International Journal of Business Insights & Transformation, 5(3), 64-68. https://hrcak.srce.hr/137444

Shin, J.-C., & Kim H.-H. (2013). Tuition Rising in Competitions for a World-class University: Cost Sharing or Cost Transfer? Asia Pacific Journal of Educational Development, 2(2), 1-11. https://doi.org/10.6228/APJED.02.02.01

Shin, J.-C., Kim, H.-H., & Choi, H. S. (2014). The evolution of student activism and its influence on tuition fees in South Korean universities. Studies in Higher Education, 39(3), 441-454. https://doi.org/10.1080/03075079.2014.896180

Speck, B. W. (2010). The growing role of private giving in financing the modern university. New Directions for Higher Education, 2010(149), 7-16. https://doi.org/10.1002/he.376

State Statistical Committee of the Republic of Azerbaijan. (2018). Azerbaijan in figures 2018. Baku.

Sutin, S. E. (2018). Reforming higher education from within: Lessons learned from other mature sectors of the economy. International Journal of Educational Development, 58, 18-25. https://doi.org/10.1016/j.ijedudev.2016.11.003

Van Andel, J., Bótas, P., Charles, P., & Huisman, J. (2012). Consumption values and empowerment of the student as customer: taking a rational look inside higher education’s ‘Pandora's Box’. Higher Education Review, 45(1), 62-85.

Zdziarski, E. L. (2010). A small college perspective on institutional budget issues. New Directions for Student Services, 2010(129), 21-27. https://doi.org/10.1002/ss.348