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New GMAT Section in June 2012: Integrated Reasoning
So the guys over at GMAC are adding a new section to the GMAT!
It’s called integrated reasoning and is basically a combination of Critical Reasoning + MBA level math. You’ll be asked to interpret charts and data sets. So stats, probability, and data analysis will be tested.
I actually think this is a good thing—it’s a lot more accurate to test these skills for an MBA program than it is to test triangles and circles. Interpreting tables of data is something that MBAs/management consultants/investment bankers do a lot–so why NOT test this skill in the GMAT?I feel testing probability and statistics in the context of theory is pointless. The new integrated reasoning section will be testing these same concepts in a much more relevant context.
Just take a look at the video below. Notice there are data sets categorizing data in terms of country, % change, Rank, etc, in the context of airport data.
More info from the GMAC folks directly.
What does the GMAT prep market look like? -
What does the GMAT Prep Market Look Like?
So I finally took the time to do some research on the GMAT Prep Marketplace. In management consulting, this is called “competitive analysis” or “competitor benchmarking.”
What should you take away from this chart?
1) GMAT Pill is significantly the lowest price GMAT Prep product out there. The other closest ones are just components of a bigger package (usually around $1,400 range) or they are Online products. “Online?” Funny, they are just video captures of classroom teachings that occur at specified 2-3 hr time slots (ie 8pm-10pm). Our “On-Demand” product is much more flexible. You study at your own pace, 24/7, skip around, take your own bathroom breaks, etc.
2) GMAT Pill has the fewest hours of instruction. Does MORE hours of instruction necessarily equate to better prep material and better score? Absolutely not. While we have the fewest hours of instruction material, the quality of the material and the focus on thought process is what impacts your score the most. We don’t want to waste your time studying. You need to study FAST and EFFICIENTLY with a good thought process.
As you can see, there are several large players out there charging ~$1,500 range. When I look at where GMATPill is priced ($327) I am just blown away. Why are we priced so low when we can raise the price to where competitors are pricing?
I guess the simple answer for now is that price needs to be sacrificed in order to gain visibility. If I were to delve further into details, our cost structure is significantly less since we don’t need physical teaching space, we don’t need to hire teachers and train them which costs a LOT. There is only ONE teacher so the costs are much less.
Is the product quality different? Yes, definitely, the testimonials speak for themselves. In addition to the teaching (it’s “faster and more efficient”), it is also more accessible with on-demand video which is a huge plus since most test takers are busy professionals. This is way better than what our competitors call “Online” because those are just video tapes of the classroom. Classes are scheduled at certain times, you don’t jump around efficiently with the video. If you go to the bathroom you can’t pause the video. A lot of time wasted, doing well on the GMAT is about being efficiently smart.
Our On-Demand videos let you focus your time to get effective studying done. If you have a lunch hour at work, you can fit this in. If you start studying then need to go watch the World Cup or go to the bathroom, you can still do that. In the end, it’s your thought process that we aim to nurture. Think like a top GMAT Test Taker and you will become one.
Related Resources:
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Smart GMAT Student Researches GMATPill
Here’s a smart who is considering various GMAT prep options. I say smart because I always think it’s a good idea when students try to find out more before committing himself to any additional prep program.Now unfortunately, this student was unhappy with his experience at Veritas Prep. According to him it was a “complete waste of $1400.” This is not the first student that has come to us and talked about their horrible experiences elsewhere. It pains me to hear about people forking over thousands and not being happy with their experience. Hopefully, others can learn from these experiences
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Some More Feedback From Students
Well, it’s pretty consistent what students are saying—that the explanations are very clear and easy to understand. Below are the snippets from the email above.
“…without your guidance, I would not have been able to identify on my own.”“I am really enjoying your teaching style and feel like I am learning a lot!!!”
“I love the shortcuts and the fact that you don’t bog down people with big words.”
Related Resources:
Goldman Testimonial for GMAT Pill
What Other Students Say
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