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Ten Demographic Trends Offer Unprecedented Challenge -- and Opportunity -- for Colleges and Universities in 2010
EducationDynamics' Market Research and Advisory Services Identifies Key Growth Areas
| Source: EducationDynamics
HOBOKEN, NJ--(Marketwire - January 28, 2010) - Market Research and
Advisory Services, a division of EducationDynamics led by Carol Aslanian, has
identified ten demographic trends poised to change higher education market
assumptions -- and the way colleges and universities do business. According
to Aslanian, "Our observation, market research, and student market analysis
show that tomorrow's students will have different expectations for their
college experience, will expect a much greater level of flexibility and are
likely to be working on their class project with a fellow student the same
age as their mother or father."
Like most changes, however, the coming trends offer opportunity. "For those
schools both smart and nimble enough to respond, we see some major areas
for competitive advantage based on our student market assessment," notes
Aslanian. The 10 key trends cited by Aslanian are:
1. Higher education is a growth market at both ends of the degree spectrum.
The greatest enrollment growth (25 percent) will be among the 25 to
34-year-old cohort. Graduate-level and associate degrees will see
exceptional growth: 20 percent and 25 percent, respectively. Opportunity:
Continue to invest in the growth of associate or graduate programs while
aligning them with student preferences in convenience, career-relevant programming and
recruitment.
2. Employers have realized the value of ongoing training to their bottom
line. They currently spend close to $130 billion annually on employee
development. Opportunity: Build innovative, collaborative programs with
organizations that focus on supporting their emerging business
opportunities.
3. Men in both traditional and adult-education programs are
under-represented. Women outnumber men in traditional U.S. undergraduate
programs and among adult learners, according to Aslanian's student market assessment. Opportunity: Find ways
to provide the courses, learning environment and support services that will
entice men of all ages into programs that can demonstrate rapid payoff.
4. Global demand for college study is growing significantly. No surprise,
the increasingly competitive global economy is driving demand for higher
education throughout the world, with the need for postsecondary education
strongest in developing nations. Opportunity: Find ways to capitalize on
best-practice online delivery tools and technologies, and smart, targeted
marketing to tailor existing programs to country- and economy-specific
education needs.
5. College students increasingly approach higher education as consumers.
Comparison shoppers, they increasingly make college choices based on
consumer-related issues and concerns: researching cost, convenience,
quality, and job placement rates. Opportunity: Identify the strongest
institutional value propositions and target prospective students for whom
those are key decision-drivers.
6. Age has less and less impact on how students learn. Student market
analysis indicates that more and more students of all ages find convenience
the key factor in where, when and how to study, and want more options and
career relevance in their studies. Opportunity: Meet the changing market
demand with online, hybrid and accelerated course instruction.
7. An increasing number of traditional-age minority students are entering
higher education. In 2020 and shortly thereafter, minority students will
outnumber Caucasian students and one-third of high school graduates will be
of Hispanic heritage. Research shows that these students have different
needs and expectations. Opportunity: Provide a supportive college
environment (including minority faculty), career coaching and flexible
course schedules.
8. Enrollment in online high school courses is growing rapidly. In fact, it
is growing faster than online college enrollments. The "online-experienced"
new students will expect both the convenience and flexibility of online and
hybrid courses as well as a high level of instructional quality when they
enroll in college. Opportunity: Focus on innovation and excellence in
online learning experiences by creating an environment that rewards faculty
for bringing a high level of teaching creativity to their online courses.
9. Enrollment demand in the two-year public sector will exceed supply.
Given state and local budget shortfalls, costs may increase as well.
Unfortunately, unemployment and the recession make vocational, occupational
and technical education especially critical. Opportunity: Find innovative
ways to "increase capacity" for these community-based, employment-focused
programs, thereby providing access to a large and growing population.
10. More older Americans, a rapidly increasing demographic, are considering
college. Sixty million Americans today are 55 or older; by 2025, more than
100 million will be over 60. For many, retirement isn't on their to-do
list, but education is. Opportunity: Tailor programs to meet the needs of
older adults, who will be looking for short-term education and training
options with a clear career payoff.
"While we believe that the demographic trends identified by our student
market analysis pose significant challenges to the higher education
industry," notes Aslanian, "knowing what to expect allows schools to start
repositioning for opportunity now."
About EducationDynamics
EducationDynamics, a portfolio company of Halyard Capital, is higher
education's leading marketing services company dedicated to helping
institutions find, enroll and retain students. Through its Market Research and
Advisory Services division, the company brings a decade of proprietary
research, unparalleled market and student intelligence, and best practice
insights to its clients. Its content-rich and highly visible education
websites, including EarnMyDegree.com, eLearners.com, GradSchools.com,
StudyAbroad.com, and its more than 50 special interest microsites, make
EducationDynamics the premier provider of qualified prospective students
for colleges and universities. In addition, the company offers a full suite
of Web-delivered services proven to drive enrollment growth and reduce
student attrition. For more information, visit
http://www.educationdynamics.com.