Feasibility Report

Topic and Key Questions
The development of the modern information technologies opens larger opportunities for the emergence of new industries as well as the development of existing industries and their shift online. At the same time, the development of online operations implies consistent changes and marketing researches because organizations cannot succeed in their online operations if they fail to conduct a marketing research, to measure the market capacity, buying power of consumers and other factors relevant to the successful performance of organizations in the contemporary business environment. In this respect, it is possible to refer to education as a dynamically developing and progressing industry, which has a huge potential due to the development of online education. In such a context, several questions arise:
The first question is: Are consumers prepared to use online education services or not?
Second: What is the technological readiness of modern educational establishment to provide educational services online and maintain the communication with students online on the regular basis? In other words, what are technical basis for the development of online education?
Third: What is the potential of online education compared to conventional education because online education needs to have its target customer group, which can use online education services?
In such a way, the development of online education can have great prospects because it eliminates geographical boundaries between students and educators but the overall success of online education depends on the technical preparedness of both students and educational institutions and on the curriculum adapted to the online education.
Applying the concept
In order to assess the full potential of the online education industry, it is necessary to briefly dwell upon the current situation in education and online education in particular. In this respect, it should be said that the development of the modern education is very dynamic because education plays an extremely important role in the life of the modern society. Today, education, especially higher education, is an essential condition of a successful career. At any rate, higher education opens larger job opportunities and many students are eager to obtain a college and University education but not all of them can afford moving from their home town or country to get their higher education in the college or University they like. In such a situation, the online education becomes a perfect alternative to such students.
Interdependence between higher education and job opportunities:

Moreover, today, many Universities, especially in Europe, the US and other well-developed countries develop online education services to attract more students because the larger number of students helps colleges and universities to improve their financial position, whereas online education does not need substantial investments compared to the number of students that can be attracted by the opportunity to receive diploma in terms of online education. Hence, educational institutions are prepared technically and professionally to online education.
Trends in the development of conventional education and online education markets (Growth of online education(left) growth of conventional education (right)).

As for the target customer group, it should be said that more and more students prefer taking classes online (Pope, 2006). At the same time, they can use modern information technologies, Internet and telecommunication systems to study online successfully. In fact, today, there are a few technical obstacles to online education. Therefore, the online education attracts many students from different parts of the world.
Thus, it is possible to conclude that the online education industry has a significant potential which can be realized through the dynamic development of online educational institutions offering educational services to students worldwide.