Universities become increasingly complex and varied market players. Commercialization of education market changes their current position while forcing to redefine the orientation from traditional academic values towards business models. Building a market advantage enforces the necessity to undertake actions that are directed at consumer-related values. It is the consumer who, on the one hand, becomes a key stakeholder of activities performed by universities, and on the other one, a partner. As a result, university transforms in an ecosystem of mutual multidimensional relations between its employees and students. It evolves while seeking subsequent factors of success and unique values. Its position in rankings becomes a reflection of the effectiveness of undertaken strategies and actions determining future decisions of its consumers-students. The paper is of empirical-theoretical nature and its aim is to identify the role of rankings in students' decision-making processes with a particular focus on the conditions for managerial processes implemented by universities. The discussion is based on the relevant literature and the empirical studies' results.