Market Research and Demand

Overview

Are you interested in launching a new online program or updating your current program? If so, consider doing a market analysis:

Regularly assess and analyze demand and supply dynamics of the online education market, new programs and modalities including students, employers, and technology.
Identify, gather, and test new ideas for improving program and portfolio (target segments, features, price, delivery, testing/evaluation, employer partnerships, and other similar dimensions).
Reconcile marketplace gaps with new and existing programs.

UMOnline has access to Burning Glass, and we will be able to provide you a market analysis. If interested in an analysis, please fill out a form, and we will reach out to you shortly.

What is the demand for the program?

Identify target student segments:

What are the demographic characteristics of the target student population (age, geographic scope, prior preparation, current employment or pre-employment)?
What is the size of the target population and anticipated growth in the pool?
Are there opportunities to engage alumni?

Identify the value proposition for the degree:

What are the employment prospects for graduates of the program?
What is the anticipated salary for graduates?
What are the anticipated trends in these factors?
What opportunities await students who complete the degree?
What are job titles of people who complete this program?
What are the professional organizations associated with the program (EX: American Institute of Certified Public Accountants)?

Gather competitive intelligence:

Is there existing competition delivering the degree? Who are they?
What, if anything, makes their programs distinctive?
If they are traditional institutions, are they peer or aspirant schools?
What are the program sizes? What are the current enrollments and trends in enrollment?
What is the format of the delivery model?
What markets have these programs targeted?
What are the prices and trends for pricing of these programs?
Is financial aid provided?
If this is truly a unique, groundbreaking degree, who would be the likely competitors if a market is established?
How is your program different from other program providers?

Demand

What is the demand for the program?

Identify target student segments:

What are the demographic characteristics of the target student population (age, geographic scope, prior preparation, current employment or pre-employment)?
What is the size of the target population and anticipated growth in the pool?
Are there opportunities to engage alumni?

Identify the value proposition for the degree:

What are the employment prospects for graduates of the program?
What is the anticipated salary for graduates?
What are the anticipated trends in these factors?
What opportunities await students who complete the degree?
What are job titles of people who complete this program?
What are the professional organizations associated with the program (EX: American Institute of Certified Public Accountants)?

Competition Analysis

Gather competitive intelligence:

Is there existing competition delivering the degree? Who are they?
What, if anything, makes their programs distinctive?
If they are traditional institutions, are they peer or aspirant schools?
What are the program sizes? What are the current enrollments and trends in enrollment?
What is the format of the delivery model?
What markets have these programs targeted?
What are the prices and trends for pricing of these programs?
Is financial aid provided?
If this is truly a unique, groundbreaking degree, who would be the likely competitors if a market is established?
How is your program different from other program providers?