The Graduate Management Admission Council released findings which show that the number of applicants to US business schools declined by 7% in 2018. Most of that drop comes from international applications which showed a 10.5% shrinkage. Domestic applications also dropped, but by only 1.8%.
Making up the slack are Canadian and European business programs, which showed strong growth from international students.
Among the schools facing a smaller number of applicants are such top MBA programs as Wharton and Harvard, a reflection that young professionals are hesitant to leave their jobs to go back to school.
The steep downturn in international applications is most likely due to the more stringent visa requirements for foreign students to enter the US on student, or any other kind, of visa. In contrast business schools in Europe, Canada and Asia Pacific all had sizable growth in their number of MBA applicants.
“Demand for graduate management education is stable year over year,” said Sangeet Chowfla, GMAC president and CEO. “However, there are significant regional variations. Non-U.S. programs continue to thrive, highlighting the continued emergence of enhanced educational and professional opportunities outside the United States.”
The trend is not only caused by “a disruptive American political environment,” but also by the growth of excellent MBA programs outside the borders of the USA. Non-US citizens are more often looking into educational and professional opportunities outside the USA.
Angered by US laws requiring that meat sold to consumers be labeled with the name of country to animal was born, grown and killed, Canada and Mexico won a formal complaint they had lodged with the World Trade Organization against the US requirements.
Mexico and Canada say these rules discriminate against imported meat, and are threatening to take steps to retaliate in what could become a full-blown trade war.
“Our governments will be seeking authorization from the WTO to take retaliatory measures against U.S. exports,” stated the Mexican and Canadian ministers for trade and agriculture.
Canada has already published a list of potential products to target for trade sanctions, such as wine, chocolate, ketchup and cereal. Mexico has not released a similar list, yet.
The beef and pork industries in Canada point to the fact that the US restrictions increase their expenses, reducing livestock exports. They say they have lost an estimated $1 billion a year in revenue as a result of this law.
Michael Conaway the Republican chairman of the House of Representatives Committee on Agriculture would like to see Congress do something fast.
“It is more important now than ever to act quickly to avoid a protracted trade war with our two largest trade partners,” Conaway said.
Republicans have a majority in the Congress, but they will most likely come up against a strong Democratic response to leave the labeling regulations in place. The top Democrat in the Committee on Agriculture, Collin Peterson, said he would oppose a change in the law. He added that he believes there are still steps that can be taken at the WTO before making any big changes.
The focus of the dispute is a law enacted in 2009 that requires retail outlets to label meat and pork in a way that gives consumers more information about the safety and the origin of the meat they purchase and eat.
Get Ready Canada
In Canada, Coca-Cola is going through a change. It is getting being prepped for summer with its new colored cans. According to a recent article in Marketing Mag this move began a couple of weeks ago and has the cans being sold with a cool “thermosensitive ink” which reacts when the temperature of the can is “cold enough to drink.”
According to the beverage’s Quebec brand’s marketing manager, Denis Fertlatte, the reason for this new marketing strategy is as follows: “The summer season is very important for both the soft drink and beer industries. We need to stand out and innovate to grab consumers’ attention and interest. Moreover, summer, with its warm and sunny weather, is the time to focus on the refreshing aspect of our product. So we came up with this new can.”
Coca-Cola Copy Cat?
There has been however, some slight criticism about the move; that this strategy has been used by other beverages already. But Ferlatte argued that even though the same technique was indeed being used he insisted that Coca-Cola Canada was “neither in the same category or targeting the same clientele, so we’re not worried about the comparison.”
This cool idea is to be found on a 335 ml can of coke in which a “white class Coke bottle turns red when the liquid reaches 8 degrees Celsius.” But get in there fast since these will only be for sale until Labour Day.
Cherry Industry Sells its Sweetness
There is some good news for the cherry industry. Apparently, with just a little bit of tweaking in the industry’s marketing direction in the North American region, cherries could be quite the profiteers. Indeed, if you just take a look at what’s been going on in Tasmania with the fruit that makes ice-cream oh so much tastier, you’ll see just how popular it is, boasting a staggering $70m per annum, which is way higher than apples and other stone fruits put together! According to Fruit Growers Tasmania Lucy Gregg, the edge the Tasmanian cherry market has could also be due to the region’s climate and limited fruit fly. She added, “we would like further financial commitment to quarantine and biosecurity that’s very important because it can potentially threaten future investment because it is seen as one of our major advantages.”
Better Selling Techniques
This is why there has been a move to encourage cherry farmers to up their marketing techniques. For example, David Green, a cherry farmer from Canada, pointed out how he made some recent changes with the packaging of his fruit. He also put the orchard’s name on the label as he believes this is “what North American retailers and consumers want.”
By doing this, the cherry farm is able to “brand [their] product,” while putting their name out there. By doing this, the hope is that the buyer will “remember the brand” and keep coming back for the same one. In addition, this will encourage people to purchase goods locally as it makes things easier. At the end of the day, a lot of people really would prefer to buy locally. They like to connect their eating to their country so if you market a cherry that comes from where the person lives, there is a greater chance that they will connect to it, and then buy it. On the other hand, if it is not obvious from where the cherry hails, then the consumer won’t feel the tug of loyalty to purchase the same one again. That’s why Green’s point makes sense, that packaging the cherry with its location makes clever marketing sense.