Application of Co-creation as Competive Advantage in Higher Education Marketing: Theoretical Perspective
Ndanusa, Mohammed Manzuma-Ndaaba1, Assoc. Prof. (Dr) Yoshifumi Harada2, Hj. Abd Rahim Romle (PhD)3, Kareem, Olanrewaju4, Maruf Gbadebo Salimon5
The application of marketing and management theories into higher education system changed the concept of education from government responsibility to private venture where return on equity is in focus. This phenomenon opened up investment windows but grew the challenges of diverse interest operating within the industry. As a multi stakeholder establishment, the need to balance the interest of all concern is paramount. However, the main target is the students who constituted the larger interest group. The intense competition among institutions necessitated the implementation of various strategies to sustain the dominance in the market. Recent research development are focusing the integration of operant resources (skills, knowledge, information) with the operand resources (fixed and moveable assets) to jointly produce value for the benefits of both parties. Service-dominant (SD) logic is the premise of this concept and this article analyze the theoretical arguments, debates, inconclusive issues and gaps in the literature. The aim is to enrich the academics with the pros and cons of the concept. It will also help education industry to understand the advantages inherent in the value co-creation theories.