Price Sensitivity Study Services

The Vendor is required to provide price sensitivity study services for include:
• Survey and focus-group research using van and conjoint analysis.
• Competitor benchmarking and elasticity modeling.
• Cohort and program pricing analysis, including program-level price elasticity modeling, demand curve estimation by major or degree level, and identification of pricing floors and ceilings by program cohort.
• A/b testing of financial aid and value messaging strategies.
• Data analysis and final recommendations for institutional pricing and value messaging strategy.
• Collaborative data validation and model review with university institutional research and enrollment analytics teams.
• Scenario simulation of financial aid and pricing strategies that includes discounting strategies for dual-enrollment and early and middle college programmatic opportunities.
• Development of dashboards or decision-support tools.
• Prepared to translate findings into actionable recommendations for tuition, housing (room and board), financial aid, and market positioning strategy.
• Price sensitivity and pricing strategy
• Data requirements and integration
o Admissions and applicant records.
o Enrollment and yield history.
o Financial aid offers and award history.
o Student academic and demographic variables.
o Program-level pricing and enrollment data.
o Market, competitor, and peer data.
o Detailed data request list identifying all institutional data elements required to complete the analysis, including data source, format, and estimated volume, prior to project initiation.
• Data collection and data cleaning
o Data request templates or extraction specifications.
o Validation and reconciliation procedures.
o Missing-data handling methods.
o Duplicate record resolution.
o Outlier detection and correction methods.
o Documentation of assumptions and model variables
• Modeling and forecasting approach
o Yield prediction.
o Award optimization.
o Enrollment forecasting.
o Retention modeling.
o Net revenue simulation.
o The proposal shall explain how institutional, financial aid, and market data will be used to develop models that inform award and pricing strategy.
o Proposed models shall not utilize protected characteristics (including race, ethnicity, gender, religion, or national origin) as variables.
o Identify any awarding strategies or practices that university has explicitly indicated are outside the scope of this engagement.”
• Benchmarking and peer analysis
o Discount rates.
o Aid packaging strategies.
o Yield performance.
o Net price and enrollment results.
o Identify how the peer set will be selected and how benchmarks will be applied to institutional decision-making.
• Scenario simulation and sensitivity testing
• Validation and testing
• Institutional goals and constraints
• Data governance and FERPA
• Implementation support from university.