Marketing research

a  Dependent Variable: Loyalty 

Conclusion:

      The R² is 0.403 and is interpreted as following:  40.3% of the variance in the Loyalty to private universities predicted by variation in all the independent variables.  Overall predictive power can be examined through the following test:

     H₀: all the regression coefficients are zero (the independent variables are worthless as predictors)

F = 3.988

F_11,65= 2.533535

     As F>F_11,65 , the null hypothesis is rejected and thus the independent variables are not considered as worthless predictors.

     The overall predictive power can also be seen in terms of the value of standard error of estimate, in our case it is 0.95879, that is less than Loyalty level Standard deviation of 1.147.

      Next step is determining the influence of factors on which the loyalty of respondents to private universities depends. First of all, high influence produces, surprisingly, Importance of Master degree, because there is no Master degree in most private universities, so logically the loyalty cannot be high for those who seek for Master degree. But by regression analysis such a case is disproved, so that the Importance of Master degree matters for those who are loyal to private universities and vice versa. Next, loyalty level is explained by competitiveness of the western-style of education: good attitude toward western-style education provides high loyalty level to private universities. Also big influence has the binary parameter of whether or not respondent studies/studied in private university. Other parameters also produce effect on loyalty level, but this effect is not as significant as previously mentioned parameters. 

Analysis of possible improvements.

      Several extra options were proposed to the respondents. 94% agreed to the abroad probation, 86% agreed to the probation in Ukraine. With enthusiasm was accepted the suggestion to study with foreigners in university, which requires invitation of foreign students to the university. Availability of free library with English literature attracted 79% of the respondents. Opportunity to get BBA attracted 78% and opportunity to get MBA – 87%.

      Also the respondents were offered to suggest the characteristics of “ideal” for them university. One of such suggestions was implementation of cooperation between firms, organizations and universities, so that students can work on real projects, with real tasks, receiving a lot of practical knowledge.  

Suggestions

1. Take into account that there were cases, where respondents did not know about listed private universities at all. So it is needed to promote the university among matriculants. Also loyalty level to private universities is related to awareness about them, so to make people more aware of private universities means to make them more loyal to them.
2. For university it is important to make its students as qualified as possible so that they can find a good job and be professionals in their fields and then advise university to others.

3. To turn out professionals university needs not only to provide theoretical knowledge, but also practical, cooperating with different organizations.
4. Remember that loyalty level to private universities is related to expenses on education: the higher loyalty the higher ability to pay for education. Also it is related to Western-style of education:  more competitive respondents think Western-style is, more loyal they are to private universities.
5. Availability to have Master degree has the biggest mean importance, so universities where Master degree is not available need to think of how to implement this characteristic.
6. Internationally recognized diploma has the biggest mean rank, so ICU should develop this feature, maybe through making recommendation of its students to international organizations and universities.
7. Absence of scholarship influences negatively the loyalty level to private universities.