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Tag Archives: NY Times

The ROI From College

It can be tough to represent a college through a logo.

Drake University thought it was saying that it gave students something extra when it added a “+” to its logo. The problem was that the other half of the logo was a “D.” Soon, for many reasons, they realized they did not want their school associated with a D+.

A petition at the University of California pushed the school toward eliminating its new logo when more than 50,000 people said it looked too slick and corporate. Hoping to modernize its 1868 seal, the University had traveled too far from a traditional image of an open book on an intricate background.

NY Times Picture of Old and Rebranded University of California Logo

During 2010, Johns Hopkins faked a rebranding on April Fools Day when it announced that it was eliminating the “S” in Johns because of all the confusion it generated.

And finally, I came across this “Les Misérables” parody from Boston University students. We could say that it rebrands the entire college experience.

Our Bottom Line: Like any business, colleges compete. For many schools, competition means you need a “brand,” an identity to distinguish yourself from others. How you brand yourself could depend on whether your market is an oligopoly where you compete against a small number of schools or monopolistic competition in which there are many.

Sources and Resources: A hat tip to the NY Times for their column on college rebranding, more on the Drake story here, and on Penn’s Wharton School rebranding through a new marketing style that relies on charts, graphs, a “quant” feel. I do recommend reading more about the Johns Hopkins April Fools story in The Washington Post and looking at one person’s list and pictures of the 15 ugliest logos.

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Not so long ago, the NY Times depended on ads, help wanted, real estate revenue. Now we have craigslist and monster.com. An Op-Ed Column could be read only on the Op-Ed page. Now, anyone can copy and share an article. And, in those multiple newspaper holders that open after you deposit your money, you would only take one and slam it shut. Now, we have our computers and iPads and Twitter.

A new documentary film “Page One: Inside the New York Times,” is actually more than a story about one newspaper. The movie describes the obliteration of an industry. Reflected by bankruptcy crises for Chicago, Denver, New York, San Francisco, Philadelphia, and other big city newspapers, the old fashioned way of reporting the news just is not working. On the revenue side, traditional sources of money have gone while on the news side, they no longer have an exclusive product.

So, what will happen?

Described in 2009 by NYU media professor Clay Shirky, the revolution is rather similar to the impact of the printing press in 1500. Shirky tells us that most narratives focus on life before and after the printing press. One book, though, The Printing Press As An Agent of Change, answers, “How did we get from the world before the printing press to the world after it?” Summarizing, Shirky says the transition was “wrenching” because “old stuff gets broken faster than the new stuff is put in its place.”

According to Shirky, we do not know how we will replace the old newspaper model of doing business. We don’t know who will go to city council meetings and war zones. We do know, though, that the old time economics of print journalism no longer exists. And, for that reason, I recommend “Page One: Inside the New York Times.” It presents fascinating questions that have not yet been answered.

The Economic Lesson

In Capitalism, Socialism, and Democracy (1942), Joseph Schumpeter (1883-1950) explained what propelled capitalism and what would destroy it. Entrepreneurs sparked capitalism’s ability to grow and provide better standards of living. Calling the process creative destruction, he predicted new firms with new ideas would replace old businesses. Ultimately though, Schumpeter believed that capitalism would die because an affluent intellectual class would emerge that challenged its existence.

An Economic Question: How might you apply the concept of creative destruction to the newspaper industry?

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