Article
Colombian university supply analysis
Fecha
2021Autor
Espinosa Vanegas, Valentina
Castro Peña, Mónica Yuleni
Institución
Resumen
Considering the market conditions of high competence and decreased demand, universities must work under a market vision and build solid strategies based on data to make better decisions and improve their competitive position. The objective of this study is to perform a cluster analysis of the private university offers in Colombia based on their representative marketing variables. We use two clustering methods for the analysis, one probabilistic (Gaussian Mixture Model) and the other nonprobabilistic (K-Means), to compare which yields the most consistent result about the actual conditions of the universities. Our study showed 4 clusters that can represent the Colombian private universities and that the method that provides the best output is the one generated by the Gaussian Mixture Model. This study gives a market perspective and methodologies that universities can adopt for developing market studies and designing new market strategies.