Set the Right Price
Just how much is “too much?”
A change in your institution’s sticker price is more than just a change in price. Whether you suspect that your institution’s current price is scaring away prospective students or fear even more that the proposed annual tuition increase will, we can help you navigate this important strategic decision.
Each year, families have to pay more for college, and each year you worry about the effects on first-generation students. Diverse students. International students. The kid next door. We are worried about this, too. That’s why we partner with our clients to target not just a price, but the right price. Often, the right price makes the difference between meeting an enrollment goal and missing a class.
We’ll help you understand how your institution’s “sticker price” and “net cost” drive students to you (or to the competition). We will identify how prospects perceive the relative value of an education at your institution and therefore, how much they are willing to pay. Armed with that evidence, you can make difficult pricing decisions with confidence.
A few considerations:
- Are you concerned that this year’s proposed tuition increase is too steep?
- Do you suspect that your college or university is overpriced? Underpriced?
- Are you curious about what would happen to enrollment if your institution significantly increased or decreased its price?
- Do you worry that your institution’s price is negatively affecting enrollment and/or retention?
- Does your institution increase its price each year and hope for the best?
- Are you under pressure from students and/or trustees to lower your institution’s price?
Using our econometric modeling and highly customized, cutting-edge market research, we’ve helped many colleges and universities set the right price. We will work with you to:
- Anticipate enrollment outcomes
- Test different pricing scenarios
- Determine price sensitivity
- Understand the competition
- Identify your institution’s value
- Find out how much is “too much”
- Avoid costly mistakes