Last year, around this time, I was gearing up for my GRE exams. Being a working professional, time was a major constraint during my preparation. I tried the usual Kaplan, Manhattan test series, essentially spending a lot on any resource that showed some promise. At this stage, I was pretty disappointed with the material I had with me. I wasn’t sure if they even replicated the rigorousness of the actual GRE. My search for any GRE material online, frequently brought up the word “Magoosh”. Magoosh is a GRE/GMAT prep website that started at the Haas School of Business, Berkeley. By the way, the word Magoosh is a play on an Old Persian word Magush meaning one who is highly learned, wise and generous.
I don’t know what advertising tactics the founders had in mind when they named their company Magoosh. I kept dismissing the site as some unprofessional attempt to get some publicity for cheap- primarily because Magoosh sounded very juvenile. But, every search I made online for GRE material, Magoosh was right there on the search page. I then went ahead and checked some of their content. I was impressed by the smooth, attractive and highly uncluttered interface they had – materials sorted for Verbal and Quantitative sections. From then on, every time I logged into my social media accounts, I Magoosh advertisements trailed along. Although such advertisements can be very disturbing, they do contribute a lot to the initial customer acquisition and retention strategies, to build a familiarity around the brand.
Magoosh positioned itself as a young, novel learning platform in a fragmented market with no clear market leader. They had a great product, great features (score predictors, highly relevant statistics to map your progress) and a great pricing strategy (SAAS, full refund for dissatisfied customers). Given the fact that the Manhattans and Kaplans were offering the same repetitive problem sets in every edition they released, Magoosh was a pretty enticing option and easy on the pockets as well. Moreover, I started receiving great feedbacks from happy Magoosh users, heard success stories and benefiting a lot from their free resources as well.
I have been a very happy Magoosh user. Magoosh knew its market very well. It had a great product that spoke for itself, flexible access across most of the commonly used technologies (iPAd, Android) and great investors (500 Startups) that believed in it. Magoosh has grown into a successful business because the team was deeply conscious about creating value through education and fostering a Magoosh culture around their product.