Higher Ed Alternatives Enter the Market with Focused, Low-Cost Options
Traditional higher education is a mature market. There are over 3,000 colleges in the United States. Some have been in operation for hundreds of years.
So, how do competitors gain traction in such an established market?
There is a proven playbook. Darden’s Business Strategy course discusses the focused low-cost competitive positioning strategy that companies use to enter a saturated market.
The focused low-cost competitive position aims to keep costs lower than those of competitors in a narrow segment of the market.
The strategic playbook of this approach is to have a low-cost, focused offering that segments the market into smaller pieces. Once segmented, larger competitors can’t quickly adapt to offer a competing product.
Higher education is getting disrupted through this approach.
There likely will never be a new traditional looking MBA program that is established in the 2020s that competes with the Harvard MBA.
Rather, the education market will be segmented into 1,000 specific pieces that offer something slightly (or drastically) different than a Harvard MBA.
On one end of the spectrum, there is the 2 year, full-time MBA with all the bells and whistles. This is a great option for many people.
On the other end of the spectrum, less expensive, shorter duration, and more focused programs will emerge to give “consumers” options outside of the full-time MBA.
MyMBA’s cost is significantly lower than a traditional MBA. In addition, MyMBA is focused on the shift to an online world with online courses, online creating, and online connecting.
As the traditional education market gets segmented, MyMBA offers a low-cost, short-duration, online experience with a focus on leveraging the power of creating on the internet to build online business relationships and find a career you’ll love. Learn more here: MyMBA.
At MyMBA, we focus on these three aspects to operate an education institution built for the future. Check out our 7 Day Free Email Course “MyMBA Basics” to learn more.