Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 45 , 01 December 2023
Open
Access | Article
Research on the Effectiveness of Traditional Education Service Provider Entering New Market on Brand Group
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Abstract
Starting in July 2021, a far-reaching event occurred in the education industry: the Double Reduction Policy (DRP) was fully implemented in China. This policy has a great impact on the vast majority of families with children, as well as on the operation of public schools and private education institutions. In this paper, New Oriental Education & Technology Group (New Oriental) was used as a case study to conduct SWOT research and analyze the long-term impact of this behavior on its brand image (BI) and brand loyalty (BL) after the group entered the live-commerce domain under the DRP. Through the detailed investigation of the case, it was proven that the strategic decision of entering the live-commerce business can bring financial advantages to New Oriental in the short term, but it had a negative impact on its BI and BL in the long term. Through reviewing the literature and analyzing this specific case, this paper believed that entering a new business field, especially when selling products or services at lower prices, will have a negative impact on the BI and then affect the BL.
Keywords
brand image, brand loyalty, SWOT, New Oriental Education & Technology Group, live-commerce
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-137-7
- ISBN (Online)
- 978-1-83558-138-4
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/45/20230262
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited