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Renewing a Mature Market: Winning in New Exec Ed Segments

Explore how to identify and capitalize on new market opportunities in the executive education industry to renew a mature market. Learn how to offer new value and attract different customer segments.

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Renewing a Mature Market: Winning in New Exec Ed Segments

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  1. SMU COX Winning in New Market SegmentsMarci Armstrong, Ph.D.November 27, 2007

  2. Remember When . . .

  3. Executive Education: A Mature Market?Which characteristics do we observe now? Which are emerging?

  4. Characteristics of Mature Markets • Overcapacity, excess inventory • Little to no market growth • Intensified competition • High volume / low cost competition • Eroding profit margins; greater price negotiation • Only incremental product improvements, little real product innovation • Proliferation of product varieties to serve narrower and narrower market segments • Increased advertising and promotion • Bottom-line: SPENDING MORE TO MAKE LESS

  5. Executive Education: Renewing A Mature Market?Are we at a point of renewal? If so, how can we hasten the renewal?

  6. Renewing a Mature Market Sales Volume Time

  7. Healthy Renewal of Mature Markets • Abandon weaker products • Shakeout -- weaker competitors withdraw • Market consolidation preceded by fragmentation • Products → Services → Experiences • Offer new value to customers • Identify and develop new markets • Lower volume, higher margins

  8. Executive Education: Renewing A Mature MarketHow do we identify new markets worth serving?

  9. Dimensions of Exec Ed Markets • Participants • Mgt level, function, gender, ethnicity, education level • Company • Industry, type (public, private, non-profit), size (# employees, revenue) • Program • Type, content, location, format • Faculty • Geographic Scope

  10. Identifying New Market Segments Industry 3-D Cell Energy Government CPG Program Content Leadership Finance/Accounting Participant Level Mid-Mgrs General Management Sr VPs C-Level

  11. Reflect:Do you think we’re at a point of renewal in a mature market?Why? What signs of a mature market do you see? What signs of renewal?

  12. Identify:Brainstorm several exec ed dimensions and levels for each dimension. Then identify new market opportunities (cells) as well as creative cells where you’re succeeding today.

  13. Analyze: How attractive are the new market opportunities (cells) you’ve identified?Are they financially viable?What capabilities do you need to deliver on these opportunities?

  14. Renewing a Mature Market: Winning in New Executive Education Market Segments

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