Market Analysis
Introduction
The College of Central Florida was established in 1957 with a vision to improve the educational opportunities in the counties of Marion, Citrus and Levy. The campus is located between downtown Ocala, Florida and Interstate 75. The college has grown and has multiple satellite campuses serving communities throughout Citrus and Levy counties. The college provides a wide variety of Associate, Baccalaureate and certificate programs to meet the needs of any prospective student. According to the U.S. Department of Education, the college is ranked 20th in affordability and has one of the best student to teacher ratios in Florida with an average of 28 students to each teacher. In 2010, the college started to offer bachelor’s …show more content…
There is a threat of substitutes to the College of Central Florida, especially with all the colleges and universities in the area. The higher education industry includes approximately 4000 degree granting colleges and universities across the U.S. (NCES, 2016). The existence of degree programs that are similar increase selection options for the student that weakens any competitive advantage that could have been gained through the program. There are also many threats coming from online colleges such as requiring less classes for the same degrees. These threats are amplified when there are significant price differences between colleges and universities. Bargaining power of suppliers. The bargaining power of suppliers, or in this case the teachers, is high due to economic factors. According to Lauren Camera (2016), at a time when enrollment is increasing, large numbers of teachers are heading into retirement or leaving the profession because of working conditions in an environment that is less inviting than in the past. Due to this high need, there are more than enough job openings for them to pick and choose what they want. There are not enough teachers entering the workforce to fill the needs of colleges in some of the key fields of math and
Introduction
The College of Central Florida was established in 1957 with a vision to improve the educational opportunities in the counties of Marion, Citrus and Levy. The campus is located between downtown Ocala, Florida and Interstate 75. The college has grown and has multiple satellite campuses serving communities throughout Citrus and Levy counties. The college provides a wide variety of Associate, Baccalaureate and certificate programs to meet the needs of any prospective student. According to the U.S. Department of Education, the college is ranked 20th in affordability and has one of the best student to teacher ratios in Florida with an average of 28 students to each teacher. In 2010, the college started to offer bachelor’s …show more content…
There is a threat of substitutes to the College of Central Florida, especially with all the colleges and universities in the area. The higher education industry includes approximately 4000 degree granting colleges and universities across the U.S. (NCES, 2016). The existence of degree programs that are similar increase selection options for the student that weakens any competitive advantage that could have been gained through the program. There are also many threats coming from online colleges such as requiring less classes for the same degrees. These threats are amplified when there are significant price differences between colleges and universities. Bargaining power of suppliers. The bargaining power of suppliers, or in this case the teachers, is high due to economic factors. According to Lauren Camera (2016), at a time when enrollment is increasing, large numbers of teachers are heading into retirement or leaving the profession because of working conditions in an environment that is less inviting than in the past. Due to this high need, there are more than enough job openings for them to pick and choose what they want. There are not enough teachers entering the workforce to fill the needs of colleges in some of the key fields of math and