The way Trachtenberg saw it, selling George Washington over the other
schools was like selling one brand of vodka over another. Vodka, he
points out, is a colorless, odorless liquid that varies little by maker.
He realized the same was true among national private universities: It
was as simple as raising the price and upgrading the packaging to create
the illusion of quality. Trachtenberg gambled that prospective students
would see costly tuition as a sign of quality, and he was right.
"People equate price with the value of their education," he says.
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