It's Great to be a Best Buy, Right?

← Back to News

Published by The Chronicle of Higher Education

Not always. And especially not if you hope to increase tuition drastically. That was a key message of a session here on Wednesday at the annual College Board forum.

For example, a top-30 public law school recently hired the Art and Science Group, a Maryland-based consulting firm, to help it rethink its pricing. Richard A. Hesel, a principal at the company, told the audience that he initially thought the school could increase its tuition quite a bit because it was priced well below its peers and competitors.

But research showed that wasn’t the case at all. The school had sold itself as a “best buy” and so could not increase prices substantially without sacrificing enrollment, the quality of its classes, or maybe both. Rather, Mr. Hesel said, it had to first distinguish itself for something else, like job placement or standout professors.

Read full article →