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.
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.
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.