- Posted by Khafi Mubegi
- 10 Jun 2022
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“Pricing Strategy for Online Courses” The 13th CEF ICE
Indonesia Cyber Education (ICE) organized the 13th Cyber Education Forum (CEF) Universitas Terbuka on “Pricing Strategy for Online Courses” taking venue on Thursday, 9 June 2022. The thirteenth Cyber Education Forum was held through Zoom Meeting followed by more than 100 participants and broadcast live on YouTube UT TV channel.
The program was moderated by Erika Pradana Putri, S.T., M.Sc., the lecture of Faculty of Science and Technology - UT (FST-UT). In this opportunity, ICE presented three speakers. The first speaker is Michael L. Koening, M.A., the second speaker is Dr. Aswin Dewanto Hadisumarto, S.E., MIA., and the third speaker is Prof. Ir. Togar M. Simatupang, M.Tech., Ph.D., IPU.
Michael L. Koenig, M.A., who is Associate Dean for Innovation Initiatives & Executive Director of Executive Education Rice University, Texas, presented the topic on “ICE-I Business Model and Pricing Strategy” which mainly focused on various funding and income sources that can be implemented by ICE-I. In the long run, further research and test are required in order to obtain the data that will give some illustration on the most beneficial funding and income sources. Nonetheless, he stressed out that ICE-I must continue to put forward the reaching-out and influence for the people of Indonesia, especially the students.
In the following session, Dr. Aswin Dewanto Hadisumarto, S.E., MIA., of University of Indonesia, gave a lecture on “Sustainable Online Course Pricing Strategy”. In his presentation, he illustrated five strategic points in course pricing. Additionally, he also stated that in order to determine pricing strategy, an education institution must be able to identify soma characteristics of its market targets, prior to data collection in order to identify their willingness to pay from the customers, and in order to determine the types of online courses to be offered.
Dr. Aswin also stated that in the post-pandemic era, the students who were used to on-line learning are now hesitant to come to their campus. The classes that are offered online today are becoming more attractive compared to the classes that are provided in conventional learning system. ICE-I may make use of this phenomenon in order to upgrade the prospective income by offering online study for the students and the people of Indonesia in general.
Finally, the last material presentation was conducted by Prof. Ir. Togar M. Simatupang, M.Tech., Ph.D., IPU., of Bandung Institute of Technology on “Pricing Models of Online Courses” that discussed on the correct ways to determine the pricing of online learning system. The pricing determination of online class is thought to be a very crucial aspect in monetization process in education.
Further, he explained five models of pricings in eLearning, which are free, membership, members-only, pay-per-course, and pay-per-user together with their respective advantages and disadvantages. Yet, the implementation of the five models could not be used and fit in all conditions. Thus, it needs more attention in order to look into further various aspects that affect their implementation.
The online learning providers that intend to attract the interest of the students and the people to use their services, may use price variation strategies presented by Prof. Ir. Togar. By providing discounted prices and special promo during certain periods, it would increase the interests of the students and the people in order to buy the services being offered. The application of bundling and unbundling systems can also be done in order to provide other cost/tuition options that the prospective students or users would spend. In addition, customization strategy that offers customized services according to the user’s requirements would also eventually appeal them. The company or institution may use this customization service for training requirement of their employees.