Exploring Marketplace Tolerances to Set Pricing for Certification Programs

Exploring Marketplace Tolerances to Set Pricing for Certification Programs
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The College of American Pathologists (CAP) retained McKinley to conduct a multi-phase research approach to understand both member perceptions and the competitive market prior to launching new educational programs as part of their Transformation Initiative. At the time, CAP had yet to decide how to price the programs and education required to earn certificates in four specific subject areas.

One of the challenges they faced was pricing the offerings without cannibalizing CAP’s other existing educational opportunities. Therefore, CAP retained McKinley to conduct research to understand marketplace tolerances and expectations and execute a methodical process of explorations and scenario building to arrive at appropriate pricing for the four certification programs. The research phases included an electronic survey, telephone interviews, competitive market scan and benchmarking study to understand pricing and market demand.

VALUE TO CLIENT

McKinley’s price recommendations were integral in the successful launch of the certification programs and Self-Assessment Modules (SAMs). Today, the programs continue to drive revenue for the association.