This paper explores the impact of marketing mix instruments on the students’ satisfaction in faculties in the Republic of Serbia and Spain, with the aim of determining how significant the effects of each marketing mix tool and their combinations are in relation to satisfaction of students in Higher Education Institutions (HEIs). The detailed literature review is provided in the theoretical part, which contributes to a better understanding of terms like marketing in higher education, marketing mix instruments in higher education and students’ satisfaction. Data were collected from 896 respondents, who are all students at the faculties in Serbia and Spain, and were obtained using the questionnaire purposefully composed for this research. The methods used to highlight any gaps in this marketing mix practice and the relative customer–student satisfaction in HEIs are statistical analyses (descriptive analysis, correlation analysis, multiple regression analysis and t-independent samples tests), leading to the general conclusions regarding the following: by improving marketing mix instruments (service, distribution, human factor, physical evidence, service process) we can, and by improving (price, promotion) we cannot, improve students’ satisfaction in higher education institutions. The general conclusions clearly highlight what needs to be improved in practice in higher education institutions to improve students’ satisfaction, especially students’ loyalty, students’ choices, students’ satisfaction with the quality of the marketing mix instruments at the faculty, students’ satisfaction with expectation which they had upon enrolment and student satisfaction with the public image of the faculty, which is the main goal of these institutions.
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