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. 

QUESTIONS TO CONSIDER

  • 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)?

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?