4. PVCC already has a somewhat large product line, however, there is always room for improvement. There are 4 ways to expand the product line Upward stretch, Downward Stretch, Fill-out strategy, Two-way stretch.
In this instance, I do not recommend downward stretch as to a large extent degrees are a prestige product. In essence where you get a degree matters to future employers. If PVCC makes new courses at a lower price questions be raised about what makes those classes worth less, why the other relatively similar courses were not lower. Even if it was implemented without difficulty these courses would have a smaller profit margin than the alternatives I will suggest shortly.
Correspondingly, I do not recommend upward stretch marketing as not only will the courses created not be justifiable in trying economic times, but the same questions will be raised, and if eventually all the similar courses cost a similar amount for enrollment. PVCC will lose the community college appeal of being drastically less expensive overall than an university. …show more content…
I have a new idea for some products to expand the product line. The first idea is offering college courses in segments. In lower income areas companies globalizing will offer smaller measures of their product at a more affordable rate. The primary weakness of college courses is that they are too time consuming day to day. I suggest we do the same thing with a certificate program building credits in smaller increments at a lower cost per unit than a standard 3 credit hour class. Such as instead of 4 classes at 3 credit hours we offer 12 classes to be taken at student's
In this instance, I do not recommend downward stretch as to a large extent degrees are a prestige product. In essence where you get a degree matters to future employers. If PVCC makes new courses at a lower price questions be raised about what makes those classes worth less, why the other relatively similar courses were not lower. Even if it was implemented without difficulty these courses would have a smaller profit margin than the alternatives I will suggest shortly.
Correspondingly, I do not recommend upward stretch marketing as not only will the courses created not be justifiable in trying economic times, but the same questions will be raised, and if eventually all the similar courses cost a similar amount for enrollment. PVCC will lose the community college appeal of being drastically less expensive overall than an university. …show more content…
I have a new idea for some products to expand the product line. The first idea is offering college courses in segments. In lower income areas companies globalizing will offer smaller measures of their product at a more affordable rate. The primary weakness of college courses is that they are too time consuming day to day. I suggest we do the same thing with a certificate program building credits in smaller increments at a lower cost per unit than a standard 3 credit hour class. Such as instead of 4 classes at 3 credit hours we offer 12 classes to be taken at student's