Student-centered Pricing Innovations in Business Schools

IEEE access, 2024

E-Learning has undergone a transformative evolution in recent years, driven by the profound impact of the Covid-19 pandemic and the convergence of technological advancements. It has shifted from being a supplemental option to a fundamental component in the global education landscape, impacting learners from the earliest stages of schooling to advanced academia. This article delves into the ongoing research aimed at developing a price calculator program to establish cost guidelines for online courses. The process, guided by the Indonesia Cyber Education Institute (ICE-I), is meticulously explored, from its conceptualization to prototype development. This research employs a qualitative approach based on the Technology Acceptance Model (TAM) to investigate the validity and significance of critical claims associated with E-Learning. Through workshops and focus group discussions, it becomes evident that perceived ease of use, perceived usefulness, and intention to use are interconnected factors influencing technology adoption. These findings collectively contribute to a deeper comprehension of the dynamics of E-Learning, effective research project management, and the significance of user-friendly tools in education. The collaborative efforts showcased in these interactions hold the potential to propel advancements in online education and pricing strategies. Moreover, the educational landscape has been permanently reshaped, necessitating the integration of E-Learning into the academic sphere. The research contributions, guided by TAM, offer valuable insights for educational institutions seeking to expand their online course offerings while aligning with evolving student needs. The meetings served as the cornerstone of a collaborative research endeavor, illuminating the evolution of discussions and tasks over time. The Focus Group Discussions (FGD) provided invaluable insights into the changing E-Learning landscape, emphasizing affordability and adaptability. The E-Learning Pricing Calculator emerged as a user-friendly and valuable tool, positively influencing users' attitudes and intentions to use it. Additionally, external variables played a pivotal role in shaping users' decision-making processes.

2011

The easiest way to help students finance their participation in higher education is to make it less expensive. The traditional view is that this is impossible because universities depend on highly expert academics, who like other professionals such as dentists, are subject to the ‘cost disease’ because of the length and expense of their training. Today, however, some who developed notion of the cost disease are changing their minds. Technology will be a game changer in higher education through its impact on the behaviour of students and for-profit institutions. The paper first outlines the principles behind the use of technology to cut costs and describes trends that indicate a tipping point in the evolution of the economics of higher education. Finally, we explore the components of the proposed Open Education Resource University, which is one example of a radically new business model.

The goal of this research is to study the two managerially and academically important issues of 1) the level of value based pricing used in SMEs and 2) pricing strategy as a tool for partnerships.

Journal of Product & Brand Management, 2011

IEEE Access

The technological advancement in learning has made it possible for students to study beyond space and time restrictions, known as online learning. Impacted by the pandemic for an extended period, most students have adapted to online learning and, even more, have realized the vast benefits of online learning despite all the minor disadvantages. As a result, worldwide institutions, including Indonesia, are now offering online degrees and courses. Previous studies have shown contradictory results of cost factor effects on online courses, from the least important to the most critical factor for student achievements. Therefore, deciding the online course rates has been a major concern for online course providers. This research aims to answer the fundamental question of designing costs for online learning by analyzing online course preferences and ensuring sustainability by proposing a framework for the E-learning Pricing Model Policy in Higher Education using literature studies and qualitative approaches. The results show four main phases: the preparation phase, which conducts market research to understand consumer demand and behavior; the implementation phase, which includes marketing expenses and tutor fees; evaluation phase, which includes the course content material and video production revisions for further implementation. In addition, the infrastructure phase as the Learning Management System's virtual space is added with the Cloud Expenses. However, as a limitation of this research, countless factors influence online course rates, and no exact number can determine those rates. Nevertheless, the course cost can be estimated by considering the factors that affect the overall cost and the number of learners who take the course. As a result, this framework acts as an essential foundation for institutions to determine sustainable online course rates.

SSRN Electronic Journal

This article demonstrates how various concepts derived from marketing and behavioral economics can be useful to accountants and others whose advice is sought on the setting of prices. In particular, it shows that a one-price policy may not always be ideal. Using price as a strategic tool can increase both profit and customer satisfaction. Pricing strategies discussed include segmented (tier) pricing, pay-what-you-want pricing, pricing digital products, and peak-user pricing. The ethical implications of pricing decisions are also discussed.

Anzmac 2002 Conference Proceedings, 2002

The consensus from studies of the price-demand relationship for higher education is that this relationship is negative but small. This paper investigates the circumstances in which demand for an MBA is positive to price increases. A survey of currently enrolled MBA students, and prospective MBA students, found that most students displayed the expected price elasticity in a conjoint analysis of hypothetical MBA course ratings. However, 12 per cent of respondents exhibited "reversal" behaviour regarding price. Profiling these respondents using discriminant analysis suggested that "reversals" seemed prepared to pay more for a course at a high prestige university, if they could study off-campus using print-based materials.

2018

Strong support has come from funding provided by EFMD (The European Foundation for Management Development) and GMAC (The Graduate Management Admissions Council). In particular, Eric Cornuel, Director General of EFMD and Sangeet Chowfla, President and CEO of GMAC, became the catalysts for a project examining not only pathways in the global evolution of management education, particularly in Africa and Latin America, but also the need for innovation in the business models of management schools globally. Helpful advice in this effort has also been given by Matthew Wood, Director of Operations at EFMD, and Ron Sibert, Director for Africa at GMAC and Dan Le Clair, COO at AACSB. Among collaborators and contributors to this project it is important to recognise the generosity and openness of Deans and faculty colleagues. For example, Andrew Pettigrew of Said Business School, Oxford and Ken Starkey of Nottingham University have urged the importance of undertaking research studies on the evolution of global management education and on the adaptation of business school models to different cultures, contexts and countries. Further, Deans and strong friends, such as

MIT Sloan …, 2002

For too long, most people who run companies have made a variety of unwarranted but detrimental assumptions about pricing. Changing prices, for example, has been looked upon as an easy, quick and reversible process, and new technologies have only reinforced this way ...

Zenodo (CERN European Organization for Nuclear Research), 2022

Quick Service Restaurants (QSRs) have become the best option for a customer wants to eat something good, affordable, and easily prepared. With such stiff competition, different QSRs market their company through their wide variety of product offerings as well as making use of creative pricing strategies. Pricing the products correctly can enhance how much a person sells and can also create the foundation for a business that will prosper. The impact of price and the consumer's purchase decisions are very dependent on each other. This quantitative descriptive research proved that there are many factors that can influence the consumer's decision. It also determined the perception of 100 respondents/students from De La Salle University-Dasmariñas regarding the effectiveness of the pricing strategies used in QSRs. Based on the results, affordability is the most important factor that a customer considers when buying a product. This is followed by value for money and then appeal. All these factors have influence, to a certain extent, the customer's decision. The study also presented that there is no significant relationship between the respondents' demographic profile and their perception of the effectiveness of the pricing strategies used in QSRs. Therefore, the null hypothesis was accepted. Furthermore, the results of the most preferred pricing strategy showed that product line is rank1, bundle is rank 2, psychological is rank 3, and premium pricing is rank 4. As part of the recommendations, the researchers suggested to test the effectivity of the 6 other pricing strategies which include Penetration, Skimming, Competition, Cost Plus, Cost-Based, and Optional Product Pricing. Another recommendation is to include more respondents from different communities and age groups that will enable the study to be more extensive and have a broader scope in terms of demographics. Lastly, the researchers formulated a set of marketing strategies on product and pricing (product line, bundle, psychological, and premium pricing) in accordance with the results of the study.