read the case study given above answer the question below in the image Question:

January 2017. For the second year in a row, the Financial Timas ranks INSEAD The #4 MBA programme in the world. No other one-year programme has reached the top spot in the IT global MBA rankings and everyone is celebrating on INSEAD's three campuses in Fontainebleau, Singapore, and Abu Dhabi. However, Dean llian Mihov, knows that these ranitings do not provide a complete picture of how business schools are perceived. He has therefore commissioned a task force, including Urs Peyer, dean of degree programmes, and members of 'W.INSEAD marketing area to cany out a large-scale study to better understand INSEAD's brand equity. Although it brands itself "The Business School for the World", is this how the world sees it? or INSEAD In Brief The "Who we are section on INSEAD's website reads: "As one of the world's leading and largest graduate business schools, INSEAD offers participants a truly global educational experience. With campuses in Europe (France), Asia (Singapore) and Middle East (Abu Dhabi), and alliances with top institutions, INSEAD's business education and research spans around the globe. Our 145 renowned faculty members from 40 countries inspire more than 1,400 students in our degree and PhD programmes. In addition, more than 11,000 executives participate in INSEAD's executive education programnes each year." This is how the school sees itself, or, more precisely, how it would like the world to see it. But is this so? How many people would be able to associate INSEAD with its tagline "The Business School for the World"? (Exhibit lists six business school taglines. Can you say to which school they belong?) More fundamentally, how many people actually know INSEAD? Branding is very important in higher education. Research has shown that brands account for 40% to 50% of the variance in the choice of a business school, which is about the same percentage as for jewellery and more than for food (see Exhibit 2). How strong is the INSEAD brand compared to its competitors? What associations do people make with the brand? And who are the "competitors" and "people whose opinions INSEAD should care about? Your Task The goal of the task force is to provide insights to allow Dean Mihov and the leadership team to optimize INSEAD's positioning and define its value proposition. This brand positioning should provide guidance in terms of future marketing activities, help differentiate INSEAD from the competition, and ensure that INSEAD stays relevant to its target market. The leadership team realizes that most of these questions can only be answered by conducting a quantitative primary research study (e.g. online survey) and getting a market research company to interview people who can be considered the target market. Your task is to write a brief outlining your approach and the metrics that you want to measure. You should write the entire survey instrument from the opening statement to the exactiterns, response scales, etc. You will also need to brief the agency on the respondent sample that you want to interview and the competitive frame. Finally, to stay within the budget of 50,000 allocated for data collection, determine whether each metric is a "must have" or "nice to have". The dean expects your results and insights within 14 weeks. Sample Selection Who will you survey? Describe the ideal respondent (demographic, geography, education, etc.). What specific questions will you use to screen them? If you think that more than one sample is necessary, rank them in order of importance and indicate which is a "must have" or simply "nice to have". If you use more than one sample, indicate whether they will be asked specific questions or the same questions. (Exhibit 3 provides a ballpark estimate of the cost per respondent). or Competitive Frame Without a benchmark it will be difficult to judge tiie results of the survey. You need to define the competitive frame precisely, i.e., a list of competitors that the respondents will be asked about in addition to INSEAD. The final list will, of course, depend on the objectives of the study described above. Again, distinguish between "niist have" and "nice to have competitors. If the list of competitors varies for different samples that you would like to survey, adjust accordingly. Brand Strength What would be the single best question you could ask to measure the strength of the INSEAD brand? One suggestion might be: "How likely is it that you would recommend INSEAD to a friend or colleague? Do you agree? If you don't can you suggest a better measure? If you think more than one measure is necessary, explain why and list the others you would add. It may help to think about a traditional funnel analysis and the different steps in the decision- making process (awareness, consideration, decision, etc.). For each step. provide the exact questior that you would ask. For example, to measure brand awareness you could ask respondents to list all business schools that come to mind (unaided awareness) or ask them whether they have heard of INSEAD (aided awareness). Lots of other questions are possible. Questions related to brand strength could, of course, also vary across the different samples that you would like to survey. Brand Perception Would measuring brand strength be enough to help the leadership team design a brand strategy and better position the INSEAD rand? For example, would it help to measure how INSEAD is forte Werk perceived compared to its competitors? If you think so, how would you measure brand percepton: with open-ended questions or by asking respondents to rate the brand on a list of attributes? If you use attributes (e.g., "excellent teaching faculty", "outstanding ruearch), hovi vould you decide which ones should be on the list? List those attributes that should be included (again, differentiate between must-haves and nice-to-haves). Is there a way to make the selection less subjective? Do you have enough information to come up with the right siatements or would you need a pre-study (e.g. leveraging secondary research, etc.)? Finally, would you use the same list of competitors and the same list of attributes for all? On top of measuring how INSEAD performs on these attributes, would you need to measure how important these attributes are for respondents? If so, indicata how you would measure 'attribute importance' in the study. Are there different approaches that come to mind? Would this require additional questions? What would be the most suitable approach given the timing and budget constraints you are facing? Additional Issues Exhibit 4 lists additional questions related to the specifics of questionnaire writing. Think about them while designing your survey. The Best the Work so Exhibit 1 Business Schools' Taglines: Which Schools Do They Belong to?! Who's who? The Business School for the World "Impact the way the world does business "Global focus and learning experience throughout programs" "We educate leaders who make a difference in the world" "Our ultimate goal. to create a global wworld that has Meaning for us *The Global Business School The bine sa for the World Exhibit 2 Does Brand Matter? The Importance of Brand across Industries Rost Telco Jewelry Labeling ON Oil/Gas E-retle Financial Brand as a driver of customer choice across industries 10.32 35.00% . Hotel Food B-Schots 10 300 Source: Prophet, Quantitative Discrete Choice Modelling Research Studies 2006-2013 The benen Berat for the World Post Exhibit 3 Approximate Research Costs Sample coats per interview in EUR Avg.com ENER Sample Source Avg.co.APAC fost US NTV GEUR 12 BUR Former MBA students Potencial MBA students 6 EUR TO LUR Quantitative Research 18 EUR Potential and lommer Bxecutive MBA students 19 BUR 36 EUR Additional costs in EUR for Survey programming & lielding Data cleaning and processing Data banners (high level analysis) 10.000 EUR 5.00 EUR 8,000 EUR Casts per locus group in EUR 0 10 HEISS M VARU 4000ES 5000 EUR 3000 EUR 4000 EUR OODUR Halentia Ludents 1027 0,2 Quantitative Research Another 4000 EUR HE . 1000 DE 10000 SUR Additional costs an SUR for Group recordingver group Reporting per group : 500 EUR 1.000 EUR INS The newest the We Rost Exhibit 4 Specific issues in Questionnaire Design and Analyses Beyond choosing who to target and what to measure, market researchers need to choose in what order the questions will be asked. This is important because answering one question car bias the answers to a subsequent question. Obviously, if you mention INSEAD before asking respondants to list all the business schools that come to mind, you will overestimate their awareness of the INSEAD brand, Another problem is that not everyone will have a perception of every brand that you might want to include in the study. What kind of filters could you include in the survey to ensure good data? Also, should you ask respondents about their potentially sensitive itsues like their salary or ethnicity? If you answer positively, how can you minimize any potential problem? You also need to decide whether the survey will appear to have been commissioned by INSEAD or by a neutral third party. Write a first paragraph that respondents will read before taking the survey. Many of your questions will be measured on a simple likeri-acaia (agree/disagree). Think about the format carefully. What kind of scale will you use? Any ideas about how to minimize the chance that some people will mindlessly choose the mid-point (or the extreme) answer, and how to reduce the impact of such behaviour on the results? Finally, briefly indicate how you think the survey antwers should be analysed. Beyond simply reporting the means for each sample, would any other ype of statistical analysis be useful? Integrated Marketing Communications Who's #1 Assignment questions 1. What is INSEAD's target segment? Which customer groups (i.e. GMAT takers, MBA prospects, HR people, former MBA students, etc.) should be surveyed? What potential screening questions could you use