What does the GMAT Prep Market Look Like?
I finally researched the GMAT Prep Marketplace. In management consulting, this is called “competitive analysis” or “competitor benchmarking” – basically seeing what everyone else is doing and then deciding what to do yourself.
GMAT Prep Course Key Takeaways
What should you take away from this chart?
1) GMAT Pill is by far the lowest priced GMAT Prep product out there. The closest ones are just components of bigger packages (usually priced in the $1,400 range) or they are online products.
2) GMAT Pill has 27 hours of instruction. Do MORE hours of instruction necessarily equate to better prep material and a better score? Absolutely not. We are on the lower side for hours of instruction, but 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 ($347) I am just blown away. Why is GMAT Pill priced so low?
Well, the price will definitely go up. For now, the price is low to gain visibility.
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.
GMAT OnDemand Videos
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 GMAT Prep Resources:
- GMAT Test Dates
- This Student Loves GMAT Pill After Taking Private Tutoring and Prep Courses
- Retaking the GMAT – is it worth it? From 690 to 760
- GMAT Psychology and Timing Strategies
- GMATPill Student’s $179 investment yields $50,000
4 responses to “What does the GMAT Prep Market Look Like?”
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this is a nice chart, explained very well. i would like to know more about it.
It's as you see it on the chart, GMATPill offers a great deal. Students want tutoring that is EFFECTIVE (not just bells and whistles added onto a prep course) and also affordable. See our Harvard Business School Student Newspaper article regarding that.
<a href="http://media .www.harbus.org/media/storage/paper343/news/2010/10/12/Features/Human.Development.Through.Technology.And.Education-3943866.shtml” target=”_blank”>http://media <a href="http://.www.harbus.org/medi…” target=”_blank”>.www.harbus.org/media/storage/paper343/news/2010/10/12/Features/Human.Development.Through.Technology.And.Education-3943866.shtml
I have twenty days to my re-exam and I did very poorly my last test. I need a bootcamp.I need major help in getting the fundamentals right as I think that was the main reason that I dint do well earlier. Any suggestions?
If you did poorly in your last test, chances are your confidence levels in approaching questions on exam day were tentative. You need to have strong overconfidence and tackling questions and be in familiar territory so you know what to do when you've eliminated answer choices to 2 and need to decide. One wrong answer in the beginning (what the GMAT considers as "easy" questions) can significantly bring down your score.
I would recommend you to tweak your thinking process. Really focus on not just getting an answer correct, but getting it correct through shortcuts/rules of thumb that let you get down to the right answer fast so you can move on. Did you finish the test? The fact that it's a timed test adds significant time pressure.
Lastly, I'd recommend you check out the "pills" that we offer – your attack strategy needs to be down solid.