Setting Price in the New Economic Climate: Considerations beyond the institution’s competitive market position

The January issue of University Business features a new article from vice president Kathy Kurz. Setting Price in the New Economic Climate discusses the importance of understanding net price position, as well as paying attention to competitors' increases, students' price sensitivity, and affordability messaging.

Kathy writes:

We have written before about the importance of considering your institution’s market position relative to competitors when planning future price increases. When sticker price position is higher than “prestige” position institutions often see declining demand. While these benchmarking comparisons are still important, the new economic climate, along with the new requirement that all institutions have a net price calculator on their website by next fall, make it increasingly important to consider other factors, as well. 

The economic volatility of the last few years has presented families and institutions alike with new challenges. Colleges and universities need to meet this new world order with sound empirical analysis and strategic action...

Read more here...

To receive more information about how the S&K team can help you better understand the current economic climate and the price sensitivity of your prospective students, we invite you to call our office at 585-381-1120, or to contact us through our website.

01/31/2011