Updated: Mar 25, 2019
*January 26 2019*
On January 10th 2019, in a bold strategic move designed to offset falling stats in the Graduate Management Admission Test (GMAT) taking, the Graduate Management Admission Council (GMAC) bought the MBA Tour. The MBA Tour has been a long standing company that hosts annual roadshows and events where B-School Admission Committees meet prospective MBA students all across the world. Specifically, the MBA Tour conducts approximately 60 events in 30 countries each year.
A strong US economy, fierce competition in the form of the GRE exam, and waivers off the generally accepted standardized tests have seen traditional GMAT volumes in decline. To counter this, the GMAC has sought to diversify its foundational value proposition via an interesting expansion strategy.
"GMAC will look to grow its core offering and expand into additional markets", says Sangeet Chowfla, president and CEO of GMAC.
In my opinion, this is a great strategy for the GMAC- a smart growth strategy that will hopeful prove very fruitful to them. Don't forget, the GMAC sits on a ton of student data (GMAT testers past and future), so they are in a position to leverage this data to target specific markets, niches, clients as needed.
It will be very interesting to see how the MBA Tour unfolds over time with new management!
Thank you for reading,
Val Misra, MBA
Founder @ MBA Accepted