This research is a case study at the University of Sarjanawiyata Tamansiswa Magister of Management (MM-UST). In order for an institution of higher education to survive, must be able to compete with other colleges so as to keep getting the students. To win the competition, much needed understanding of the condition both internal factors and external factors. How to know and understand these conditions were calculated using SWOT analysis, where Cochran Q test is used to determine selection to the identification of internal and external factors. Based on this analysis, the institute will be able to determine a strategy as to what will be done so that the student body can be achieved optimally. Selection wrong strategy would it can degrade the performance of the institution. Besides that, another thing to understand the preferences of students and stakeholders who have encouraged and make their choice at the MM-UST. Knowing the tendency of student preference will be able to determine segmentation, targets, as well as the positioning of students and stakeholder as well as potential customers for the MM-UST. An analysis of these preferences is done by using AHP (Analytical Hierarchy Process). The result, based on the total score of factors internal and external total score, it can be seen in the diagram SWOT that coordinates MM-UST (1.53: 0.59) in the position of Quadrant I, which are relevant to the strategy Expansion. The order of preference a student of MM-UST namely: Prospects Study Program (.219), with sub-criteria Office Position To Get Faster (.093). The Image of the Magister Management Department (.194), with sub-criteria Accreditation Status (.052). Ease Selection (.162), with sub-criteria Competition Sign Not Strict (,039). Meanwhile segmentation MM-UST students to consider successively are: Fresh Graduate UST, Fresh Graduate from other universities, Government Employees, and Employees of state-owned enterprises.