ABSTRACT
One of the many definitions of marketing is “the process through which a firm creates value for its chosen customers by meeting those customers’ needs” (Silk, A.J. (2006). What Is Marketing? Boston, MA: Harvard Business School Press, p. 6). Universities create value by meeting the needs of a broad array of stakeholders – students, faculty and staff, parents, governments, employers, and the labor markets. But how do universities know that these needs exist, and how do they go about meeting them? This chapter discusses these issues together with universities’ primary “business” of creating human capital. It also discusses, amongst other things, the need for a linkage between universities and the labor market, and how universities adapt to fill unmet needs in the market.
