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    Developing A Pricing Strategy: DR David Halton, Uwe

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    Fury321
    This document discusses developing pricing strategies for higher education institutions. It covers pricing policies, strategies, and analyzing markets versus costs. An example is provided of a university (UWE) that developed pricing strategies aligned with its corporate objectives to improve student quality and reduce reliance on student clearing after evaluating its markets. The strategies included possibly increasing prices in some markets to attract higher-value students while lowering prices in other markets.

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    Developing A Pricing Strategy: DR David Halton, Uwe

    Uploaded by

    Fury321
    22 views17 pages
    This document discusses developing pricing strategies for higher education institutions. It covers pricing policies, strategies, and analyzing markets versus costs. An example is provided of a university (UWE) that developed pricing strategies aligned with its corporate objectives to improve student quality and reduce reliance on student clearing after evaluating its markets. The strategies included possibly increasing prices in some markets to attract higher-value students while lowering prices in other markets.

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    JCPSGHalton

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    This document discusses developing pricing strategies for higher education institutions. It covers pricing policies, strategies, and analyzing markets versus costs. An example is provided of a university (UWE) that developed pricing strategies aligned with its corporate objectives to improve student quality and reduce reliance on student clearing after evaluating its markets. The strategies included possibly increasing prices in some markets to attract higher-value students while lowering prices in other markets.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    22 views17 pages

    Developing A Pricing Strategy: DR David Halton, Uwe

    Uploaded by

    Fury321
    This document discusses developing pricing strategies for higher education institutions. It covers pricing policies, strategies, and analyzing markets versus costs. An example is provided of a university (UWE) that developed pricing strategies aligned with its corporate objectives to improve student quality and reduce reliance on student clearing after evaluating its markets. The strategies included possibly increasing prices in some markets to attract higher-value students while lowering prices in other markets.

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    Developing a pricing strategy

    DR DAVID HALTON, UWE


    Developing a pricing strategy
    • pricing policies

    • pricing strategies

    • market vs cost

    • price as an economic factor


    The market
    • many and varied

    • new and existing products

    • integration of marketing
    throughout the HEI
    Markets and HEIs
    • market evaluation unnecessary - not for
    profit organisation

    • propositions / examples against:


    – HEFCE requirements
    – Media comment
    – TRAC methodology
    – Vision mission and corporate strategy
    support
    Pricing and admissions
    • price value in non-monetary terms

    • decisions re point scores / entrance


    requirements are pricing decisions
    Pricing policies
    Corporate Financial
    strategy strategy

    Strategic
    pricing policy

    Elements of
    marketing mix
    Pricing policies
    • definition of pricing policy

    • UWE’s pricing policy

    • UWE’s set of regulations - Appendix A


    Pricing strategies
    • develop pricing strategies for each of the main markets HEI
    serves. Presupposes
    – main market identification
    – collection of data
    • a) customers / customer values
    • b) price sensitivities
    • c) costs
    • d) competition
    • e) reputation
    • f) risks
    • g) government policies
    • h) product life cycle stage
    Pricing strategies

    – analyse the data to:


    • a) inform corporate strategy developments
    • b) inform pricing strategy development and
    hence financial strategy
    UWE example
    • corporate plan
    – managed change in characterisation of
    UWE’s student intake
    – significant increase in scale of research,
    postgraduate and consultancy activity
    – extension of UWE’s international
    dimension
    • strategic priority
    – improve the quality of student intake;
    reduce exposure to UCAS clearing
    UWE example
    • UWE’s weak characteristics

    – insufficiently high overall ratio of applications to places -


    reflects lack of sufficient ‘brand recognition and
    differentiation’

    – heavy reliance on clearing system

    – disappointing quality of intake in some areas


    UWE Corporate plan - some
    objectives
    • develop its brand value

    • improve quality of full time student intake

    • reduce dependence on clearing

    • build upon reputation for teaching quality


    Market evaluation
    • markets where full time student numbers
    might increase if ‘price offer’ increased (High
    price / higher value market)

    • markets where if the above occurs less


    students would be attracted (Low price / low
    value market)
    High risk pricing strategy
    • possible under recruitment - reputational,
    financial risk

    • additional benefits
    – attacked price culture across all UWE
    – prompted review of admissions procedures
    Pricing strategy and strategic
    outcome
    Level 1 Undergraduate Entry through UCAS
    Overall position statement as at 28/09/01
    2 Cycle analysis Total UF R
    2001 23843 5106 4022
    2000 26035 4880 5971

    Variance -8.42% +5% -33%


    Presentation summary
    • pricing policies and pricing strategies

    • interpretation of corporate objectives with financial


    strategy and market analysis of main markets

    • gave an example of the adoption of a pricing


    strategy for those markets where analysis
    suggested there would be a positive response
    Thank you

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