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The increasing value that education provides to the economy and society is now well established (Samier, 2000; McKenzie, 1999) and makes understanding the motivations for ‘buying’ formalised learning significant. From a supply-side perspective, providers must respond in a strategic manner to an increasingly complex environment. Reductions in Government funding have been accompanied by increased competition between providers for both students and funding. The result has, in part, led to pressure to treat education as a ‘product’, increasingly focusing on factors such as institutional standing, product differentiation and niche markets, relentlessly seeking new opportunities to achieve strategic objectives. Finally, there is the increased influence of stakeholders. From a demand-side perspective, the individual must be proactive in an environment where knowledge becomes rapidly obsolescent and workers are under constant pressure to up-grade their skills and knowledge throughout their working life. This paper reports findings relating to the relative importance of a number of product attributes, such as cost and the extent of credit transfer, in the individual’s decision to undertake post-compulsory education and training. The methodology utilised is experimental choice analysis which is a stated preference technique. This method combines an extensive iterative qualitative phase of data collection with a rigorous statistical technique to ultimately determine the marginal rate of substitution for the various product attributes.