The issues of cost and affordability in higher education have never been more pressing than in the current climate. A pricing study is a critical step for any institution considering price adjustments. This complex project is guided by strategic market research, financial aid and financial analysis, and competitor set observations in order to deliver multi-year pricing strategy recommendations.
The Process Includes:
- Recommendations around other institutional efficiencies necessary to meet operational budget objectives & fully optimize net revenue gains resulting from a tuition reset strategy.
- A financial aid analysis of the recent-history deployment of institutional grant & scholarship funds & the intersection of that analysis with potential pricing strategies.
- Value proposition review related to the institution’s website & communication plan.
- Financial forecasting examining impact across the revenue landscape of a possible tuition reset.
- Development & delivery of a new financial aid matrix that awards aid efficiently while maximizing enrollment.
- A comprehensive pricing study that focuses on the traditional undergraduate student population.
- Market research with five key populations to enable you to assess perceived value in the marketplace related to pricing structure & accurately identify competitors.
- A market positioning study related to the tuition rates for peer & aspirational schools that seeks to address a series of critical value & pricing questions around competitor data, messaging & distinctives.
- A clear set of recommendations from each portion of the project & a closing summit meeting to present findings, recommendations for pricing strategy & work together toward implementation.
Talk to a consultant to find out more about how a Pricing Study can positively impact your institution's financial health and sustainability.