A REPORT ON BUSINESS DEVELOPMENT AND COMPETITOR ANALYSIS OF THINK AND LEARN PVT. LTD
BY:ASHISH MISHRA
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Authorization This is to certify that this report is submitted in partial fulfillment of the requirements of Think and learn pvt. Ltd This report document titled: “Business development and competitor analysis” is done by Ashish Mishra as part of the job at Think and learn pvt. ltd during his job under the guidance of Mr. Nishit (manager),of Think and learn pvt. ltd
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Acknowledgements I am extremely grateful to Mr. Nishit, manager, Think and learn pvt.ltd for helping me and providing me with the useful information. By regularly interacting with him, I learnt few facets of Educational Industry and I am sure the knowledge imparted will go long way in enriching my career. I spent some time in market to know about our competitors.
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TABLE OF CONTENTS 1. ABSTRACT........................................................................................ ..............................5 2. SCOPE OF THE PROJECT………………………………………………………………………………………… ………….7 3. BUSINESS DEVELOPMENT STRATEGY ……………………………………………………………………………….8 4. UNDERSTANDING THE PRODUCT AT THINK AND LEARN PVT LTD…………………………………..10 5. IDENTIFYING COMPETITORS……………………………………………………………………………… …………….13 6. MARKET LEADER ANALYSIS........................................................................................ ........19 7. PROMOTIONAL STRATEGY FOR THINK AND LEARN PVT LTD…………………………………............22 8. BUSINESS DEVELOPMENT AT SOUTH DELHI CENTER…….....................................................33 9. CUSTOMER SATISFACTION SURVEY………………………………………………………………………………….35 10. SWOT ANALYSIS……………………………………………………………………………………… …………………….38 11. LEARNING FROM PROJECT………………………………………………………………………………………… ….40 12. CONCLUSION AND RECOMONDATION………………………………………………………………………..... 43
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13. ATTACHMENT………………………………………………………………………………… ……………………………..45 14. REFERENCES………………………………………………………………………………… ………………………………..47
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ABSTRACT The project deals with learning of Business environment of education sector with prime focus on Business development of the organization & its products. It is followed by understanding consumer behavior & Competitor analysis which will benefit the organization by increasing its market share in the future. Thorough analysis of marketing strategies used by different organizations in the sector has been done. Project implementation is in the following order: 1. Studying the education industries & understanding their trends. 2. Understanding the functions & operations of different departments of the organization & identifying their products in the market. 3. Identifying the market leaders. 4. Sales & Marketing of the existing products by studying consumer buying behavior. 5. Understanding the promotional strategies used by market leaders & identifying the strategy best suited for the organization. 6. Critical Competitor analysis to make peer comparisons of the companies strategies. 7. Managing activities of a fully fledged operational centre ( Karol Bagh ) 8. Qualitative survey so as to understand consumer’s needs & expectations Work executed at different stages of the project has been mentioned below: To have an insight of the industry, I first started understanding the services & products of the different organization on 30-April-2013 To know about our target customers I visited few campus which is affiliated by Delhi University for instance Khalsa College, Shri Ram College of commerce and Hindu college on 2-April-2013
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To know about our competitor s I visited their centers for instance MBAGURU,T.I.M.E., and CAREER LAUNCHER at Connaught Place on 3-April2013
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Scope of the project Think and learn pvt. ltd has been in the existence since 2008. It has nice grip over the market as compared to its counterparts but threats of new entrants like Edumentor, Pratham Educational services and old players like I.M.S& T.I.M.E is present there. The project has been undertaken by keeping business development of the organizations as the prime focus. The project report will give the organization a view of the current market trends. The fact and information provided in the report would give the company opportunities to expand their business & counter the threats of its competitors. It will help the organization increase its efficiency by learning effective promotional strategies implementing them & shelving old ones. Product development at the organization meeting the changing requirements of the customers will be taken into consideration during the course of the project. As during the project I will b involved in selling & marketing of the organization products, it will also help me to understand the consumer buying behavior. S.T.P analysis would be done to explore new segments thereby providing the company with an opportunity of Business development and hence increasing their market share. Surveys conducted towards the end would help us to know customer satisfaction level, and effectiveness of current promotional tools used by the company. Apart from this, it will also help me in shaping my knowledge about the education sector.
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• Business development strategies As a part of business development strategy various activities like Board center activity, public relations, would be conducted throughout Delhi/N.C.R in order to reach the target audience. Collection of information from all possible sources to understand the organization products, competitor offerings would be done. Promotional techniques used by them would be studied.
• Profiling Collection of primary & secondary data, its analysis & profiling of the potential customers would be done by telecalling.
• Ghost shopping In order to gain insights of the strategies of competitors a study would be conducted to gain knowledge about the business model of various competitors like T.IME,CL, I.M.S, Edumentor, etc. On its basis competitive promotional strategy for Smart Careers would be developed. Ghost calls would be made to understand the products of competitors and their unique selling point.
• Relation building Interacting with college students and their parents in order to get an idea of what all they expect from an institute preparing for CAT,XAT,SNAP,IIFT,MHCET and GMAT entrance exam and also to brief them about various options one has after Graduation. This will be done by: a) Conducting counseling at all centers. b) Counseling parents & students over phone by telecalling. c) On the day of the university exams, interacting with the students, do short term counseling and give them brief knowledge of our product and services we offer. d)Distribution of pamphlet in the college campus or in front of the gate.
• Direct Sales:
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Individual counseling of parents & students would be done to brief them about the product & services offered by the company & ultimately make the enrollments by convincing them about the products. This will benefit the company financially
Values added to the organization: • Finding out new products & courses in the industry. • Business development of company • Finding products of the competitor & their promotional strategies • Finding customer perception about the industry, products & factors affecting their selection. • Helping out the company in knowing the latest tools being used by market leader to survive in the market
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CHAPTER 1 UNDERSTANDING PRODUCT AT THINK & LEARN PVT LTD
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CLASSIFICATION: The main business of Think & learn pvt ltd is of providing specialized coaching to students preparing for CAT,XAT,SNAP,IIFT,MHCET,GMAT and UPSC exams. The organization represents itself as a career development institute by mentoring young graduation pursuing students as well as passed out and office employees Its core competency lies in counseling & mentoring young students to choose the right career path for themselves.
Products: 1.CAT 2.GMAT 3.LMS 4.UPSE 5-CET 6-AIEEE 7-IIT-JEE 8-GRE
Our Centers:
Bangalore Chennai Hyderabad Mysore Kerala Delhi-NCR Chandigarh Pilani Manipal Ahemdabad Kolkata Mumbai Pune
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Product features:
The reference materials, books, study kit is provided to the customer at the time of enrollment. Worksheets are distributed every day. Mock tests, simulated and assessment test are conducted at regular interval. A G.D/P.I session is given towards the end of the course. All the products are complete classroom programmed.
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CHAPTER 2 IDENTIFYING COMPETITORS
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COMPETITOR ANALYSIS Competitor analysis is a critical part of a firm's activities. It is an assessment of the strengths and weaknesses of current and potential competitors, which may encompass firms not only in their own sectors but also in other sectors. Directly or indirectly, competitor analysis is a driver of a firm's strategy and impacts on how firms act or react in their sectors. Analysis is an essential component of corporate strategy; most firms do not conduct competitor analysis. They operate on what is called “informal impressions, conjectures, and intuition gained through the tidbits of information about competitors every manager continually receives.” As a result, it places many firms at risk of dangerous competitive blind spots due to a lack of a complete competitor analysis. In utilizing competitor analysis as part of strategy formulation, firms are able to adapt or build their own strategies and be able to compete effectively, improve performance and gain market share in their businesses. In a large number of instances, firms are able to tap new markets or build new niches. In any business the main motive is to offer something better than the competitor. Competitor analysis framework focuses on four key aspects: • Competitor's objectives, • Competitor's assumptions, • Competitor's strategy, • Competitor’s resources and capabilities List of competitor Career launcher T.I.M.E. MBAGuru IMS
Competitors Reach
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T.I.M.E. CAREER LAUNCHER MBAGURU I.M.S.
NATIONAL NATIONAL DELHI/NCR,AGRA AND NAGPUR NATIONAL
COMPETITOR’S PRODUCTS T.I.M.E. CAREER LAUNCHER
MBAGURU
I.M.S.
CAT , Management , LAW , H.M ,CSAT,IIT-JEE/ENGINEERING COURSES,BANK EXAMS ETC CAT , LAW, H.M,BBA,MANAGEMENT,CIVIL SERVICES,BANKING,ENGLISH LANGUAGE TRAINING,GATE CAT,SNAP,IIFT,MANAGEMENT CAT ,MANAGEMENT, LAW, MEDIA ,B.C.A ,etc.
ABOUT T.I.M.E. According to T.I.M.E. It is the first institute to offer all-India Mock CATs on the lines of the new cat on the line of new pattern, true to its reputation of being the fastest to adapt to the changing CAT.The testing interface of T.I.M.E. AIMCATs and other practice tests is modeled on the same lines as CAT pattern . T.I.M.E. is offering different formats of online tests like BITSAT,GRE test,GMAT Exam and TOEFL,Ibt to its students. T.I.M.E. OFFERINGS(Computer-based test package) 19 AIMCATs(including 10 invigilated test) 9 CAT replica Test 13 Mock CATs 150 sectional tests covering covering all topics In addition, following paper pencil tests are also offered: 1 AIMCAT 1 CAT Replica Test
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2 Mock CATs Triumphant Institute of Management Education Pvt. Ltd. (T.I.M.E.) is India's leading test-prep institute with a pan-India presence and is headquartered at Hyderabad. Established in 1992, T.I.M.E. today operates out of 216 offices located in 110 towns and cities across the country. Over 40 IIT/IIM graduates form part of the core team at T.I.M.E.. Started in a small room of 120 square feet on 26th May,1992 in Hyderabad with one centre, T.I.M.E. has just completed 20 years of service to the student community – helping to build a few hundred thousand careers along the way. From one office to 200 offices has been a long and satisfying journey for T.I.M.E.'s promoters who had chucked their high flying corporate jobs to pursue their dream and passion. T.I.M.E. has achieved an important milestone of training more than 11.5 lakh students since inception and over 1.75 lakh students in the last year alone for the various entrance examinations. More than 75,000 students trusted T.I.M.E. for their preparation for the CAT 2011 CAT2011 Results Institute
II M A
II M B
II M C
II M L
II IIM IIM IIM IIM IIM IIM IIM IIM M Kozhiko Shillon Raipu Ranc Rohta Trich Kaship Udaip Total I de g r hi k y ur ur
T.I.M.E.Stude 19 21 33 62 46 nts selected
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0
2
0
3
312
330
821
16
479
329
761
13
4884 *
ABOUT CAREER LAUNCHER According to board of Directors Company’s good growth record of the past years, the revenue of the Company grew by 22% over the year and the Profits before Taxes grew by 13% during the same period. Over the last 15 years, CL has established itself as a national player in the field of test prep. Today, it functions across a broad spectrum of educational services including K-12 school, higher education and vocational training Currently, CL is present in 175+ cities/towns of India with educational infrastructure in the form of learning centers in excess of 225 in number. The total inclusive manpower of CL is in the region of about 3000 with 65% of this being only teachers/trainers/academicians. CL also has international presence in Dubai and
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Abu Dhabi and offers various educational services to its students in these countries. ABOUT MBAGuru
VISION We reach out so that you can reach up and beyond
MISSION We will become the most trusted provider of customized educational content and services, offering material and/or guidance to each learner to help him/her discover, reach and exceed his/her intellectual, moral and aesthetic potential. MBAGuru is showing that Leader in Adaptive Preparation for CAT ABOUT I.M.S.
an institute with over 34 years of experience in shaping success stories. Our motto is to mentor, motivate and guide our students and all those who interact with us in order to enable them to make the right career decisions. IMS is the leader in Management Entrance training. The institute has been ranked 4th in the education sector and 44th amongst the Top 50 Most Trusted Service Brands across India (AC-Nielsen & Brand Equity, December 2003). Today, IMS has spread its wings across India with more than 90+ centers and over 50,000 students, successfully making it to some of the most prestigious institutes in India and abroad. Market shares of major players in the market for 2010
T.I.M.E.
1250
CAREER LAUNCHER
1600
IMS
3700
Source: author compilation of various secondary sources
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Market share of major players in the market for 2011
T.I.M.E.
1300
CAREER LAUNCHER
1450
IMS
3900
Source: author compilation of various secondary sources
4 3.5 3 2.5
T.I.M.E.
Career Launcher
I.M.S.
2 1.5
I.M.S.
1 0.5
Career Launcher
0 T.I.M.E.
2010 2011
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CHAPTER 3 MARKET LEADER ANALYSIS
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From the facts & information collected from various primary & secondary sources, it is quite clear that I.M.S, Career Launcher & T.I.M.E are the top competitors of Think And Learn Pvt Ltd. Profiles of the following institutes have been given below. IMS1. An institute with over 34 years of experience in shaping success stories. 2. Leader in Management Entrance training. The institute has been ranked 4th in the education sector and 44th amongst the Top 50 Most Trusted Service Brands across India 3. IMS has spread its wings across India with more than 140 centers and over 50,000 students, successfully making it to some of the most prestigious institutes in India and abroad. 4. People get into the best colleges after completing their classes in IMS. It is an institute with maximum no. of enrollments in consecutive years 5. For a normal management package there are total of 46 sessions: 1 Preliminary Test, 1 Goal Setting Session, 12 sessions for Quantitative Aptitude, 8 of English, 12of Reasoning, 8 sessions for General Awareness & 8 sessions Business Awareness and 4 sessions for Assessment Their marketing mix: • PRODUCT – It has product for both for both undergraduate level and post graduate level. • PRICING – The pricing of I.M.S products are slightly high as compared to other players in the market. Major factors influencing I.M.S pricing is its brand value & quality service. Its pricing strategy is mainly dependent on Demographic factors (mainly income). Price of their basic product is around 11,500.30
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• PROMOTION – IMS unique selling point is its brand image all over the country. During their promotions they make sure that masses get to know about the fact that they are the market leader. Their previous year results reflect the quality service offered by them. Being a major player of the industry it enjoys Brand Reorganization, high financial resource back up. Capital intensive promotion is employed by them. They use the following above the line promotional strategies: I. Media promotions such as Radio Ads - Their belief is that a radio add reaches the houses in cities as well as towns. II. News papers – One of the most effective promotion tools of all the time .Vastly used for promotions in education industry. III. Telemarketing – Both in form of calls and SMS’s IV. Internet Ads – Social networking sites, blogs, paid ads, etc. V. Banners – Putting logos & banners outside schools, colleges, metro stations Below the line marketing strategies used are: I. Sales promotion – Which boasts up the morals of employees and fosters a competition among them to perform better. II. Outdoor publicity On the whole I.M.S uses more of capital intensive strategies. With a good financial backup the company focuses well on above the line promotions and not on below the line promotions. • PLACE – The scale of operation is nationally. With a good reach in all the major cities of the country I.M.S has its network in all the four zones of Delhi & NCR.
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CHAPTER 5 PROMOTIONAL STRATEGY FOR THINK & LEARN PVT LTD
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INTRODUCTION The major work that I was assigned was to understand the company objectives, its customers, company limitation and then to decide a marketing strategy for the organization which would increase its brand awareness and ultimately lead to its business development. There are basically two categories of sales promotion: Above the line sales promotion Above the line is a type of advertising through media such as TV, cinema, radio, print, banners and search engines to promote brands. Major uses include television and radio advertising, web and Internet banner ads. This type of communication is conventional in nature and is considered impersonal to customers. It differs from Below the line advertising, which believes in unconventional brand-building strategies, such as direct mail and printed media (and usually involve no motion graphics).These strategies require huge amount of investments and are majorly Capital intensive. Below the line sales promotions These are short-term incentives, largely aimed at consumers. With the increasing pressure on the marketing team to achieve communication objectives more efficiently in a limited budget, there has been a need to find out more effective and cost efficient ways to communicate with the target markets. This has led to a shift from the regular media based advertising. These strategies involve high level of ground work involving manpower and hence are more of Labor intensive
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Before starting promotions, sales forecast is done to decide the amount to be spent on the promotions based on the revenue expected from the product. Successful advertising depends on knowing the preferred methods and styles of communications of the target markets that has to be reached with the ads. STEPS FOR DEVELOPING PROMOTIONAL STRATEGY The steps involved in developing strategies for Think and learn can be enumerated as: 1: Understanding company objective 2: STP of the organization 3: Analysing competitor promotional strategy 4:Analyzing organization limitation 5: Selecting effective methods UNDERSTANDING COMPANY OBJECTIVE Major objective of Think and learn for conducting promotions are: Understanding consumer buying behavior & their needs Hit the target audience in cost effective manner Create Brand Awareness for the company nationally. Create competitive advantage Increase in the customer base Positioning for company in the mind of target audience Generating sales
SEGMENTING TARGETING POSITIONING OF THE ORGANIZATION
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SEGMENTATION A segment is a group sharing one or more characteristics that cause them to have similar product and/or service needs. A true market segment meets all of the following criteria: • It is distinct from other segments (different segments have different needs) • It is homogeneous within the segment (exhibits common needs) • It responds similarly to a market stimulus • It can be reached by a market intervention
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BASIS OF SEGMENTATION Segmentation of an organization can be done depending on many variables: Demographic • age ,gender , family life cycle, education , income, occupation • Socioeconomic, religion, nationality , language Geographic • Region, Country , Climate Psychographic • Attitude, personality, life style Behavioral • product usage rate, brand loyalty, product end use • readiness-to-buy , profitability, income status
SEGMENTATION Think and learn defines its segment on the basis of Demographic Variables, i.e. age, education and income. The management coaching is provided at graduate level, so students are required to be segmented on their age i.e.; 21-22 age group, their educational specialization i.e. Science, Commerce, and Arts etc. Income of family helps to segment the students and thus facilitates think and learn to plan its target audience more accurately.
TARGETTING For any organization serving all the segments is not possible , so specific segments have to be targeted which can be most beneficial for the organization .Think and learn decides its target audience to be students of graduation or passed out. Apart from this, students with specific interest in civil services, engineering and medical etc. are also targeted .The parents of these students act as the Opinion leaders and Decision makers & at a later stage in the season as target audience too.
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POSITIONING It is the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. Most of the competitors serve more than one segment, with no clear positioning of a specialist management coaching institute. Many players have positioning in terms of Quality-Prices model, others on basis of faculty and so on. And if we talk about CSAT I think there is no comparison than others.
ANALYZING COMPETITOR PROMOTIONAL STRATEGIES After conducting S.T.P of the organization it is required to analyze the strategies used by competitors, considering both old and new players in the competition. Strategies adopted by competitors are: Most of the players are national level player enjoying high brand awareness in Delhi and NCR region. One or two players like Edumentor, Pratham and MBAGuru operate at local level & are growing at an alarming rate. They can be threat for the organization in the future. Being a major player of the industry it enjoys high financial resource back up and the study of their promotional strategies portray that they conduct Capital intensive promotions. Few of above the line marketing strategies used by the competitors are: 1. News paper ( used throughout the season, with varying intensity and updated offerings with respect to change in market conditions ) 2. Mobile ads (bulk SMS , to create buzz among the masses ) 3. Telemarketing ( most common tool used by any organization ) 4. Internet ( requires high investments , mainly used by old players ) 5. Banner ads ( used by both old & new players ) 6. Television ( used by I.M.S , tying up with local cable operators ) 7. Radio ads ( during start of the season ) The local players in the market are restricted to use Labor intensive strategies but its drawbacks are that it gives relatively a cheap image of the organization.
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Few of the labor intensive strategies are: 1. Direct sales 2. Sales promotion 3. Endorsements 4. Public relations 5. Trade show 6. Person selling
ANALYZING COMPANY LIMITATIONS Company’s limitation has been: • Time Constraint: The first challenge which was there before devising the business development strategy was the time constraint. The target market i.e. the pursuing graduate student is busy with their examination in the month of may This the time when the promotional activity is at a full swing because after the completion of the examination, students opt for different institute for their entrance exam preparation. So the effective time of promotion is around two months in which we have to build the brand name and adopt different strategies to make a strong brand recall.
• H.R.: The next major constraint for the promotional campaign was the insufficient Human Resource availability as the majority of the people were inexperienced and had to be trained in the limited span of time.
• TRADITIONAL METHODS: In the age of internet media and TV ads, company still follows the old traditional methods; this is one major drawback in the organization. Methods suggested Analyzing all the above factors , right mix of both above and below the line marketing strategies has to be used to generate positive leads .Few of the methods which can be introduced or continued further are : Direct mail: Mails were sent directly to the customers(students giving university examinations)highly customized, giving them tips regarding exams and information about form details of entrance exams with an immediate calling helpline to generate response.
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Educational newspaper (booklet distribution) Newspaper distribution in form of sample papers and informational booklets formed the basic and the most important promotional activity for the company. The distribution was done in the main promotional activities of the company: Board Centre activity:The board center activity is one of the major business development and promotional activity .The activity was designed in such a way that maximum number of target audience can be covered in the limited span of time. we are supposed to cover maximum number of colleges in assigned zones(North zone in my case) which is the hub of students.The work schedule of the activity includes: • Information newspaper & Booklet distribution to students and parents • Database collection The same activity is conducted by Edumentor too. But they are more focused on counseling of students during this phase but we have to focus on inviting customers to an educational seminar, where the can later counsel parents. This activity reflects good image of the organization to the masses. Telemarketing: The use of telemarketing is on the rise as the response rate in comparison to other promotional tools is very high. This activity can carried throughout the operation phase. The dedicated quality managers managed to ensure that the data is real and not fake. The telecallers were planned to convert this data into the final sales enrolment. Bank Centre Activity: Started by Edumentor, one of the most effective strategies of hitting the right customers at the right time. In this the organization tie – ups with major banks where forms of entrance exams are available. Customers are counseled on the spot. Internet: One of the most effective tools used in the modern world. Blogs, paid ads, social networking sites are big hit and generates good no. of positive response from the customers.
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Sales Flowchart :
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During the project, I was involved in each of the activity of the marketing and development. I went to various colleges under Delhi University for our marketing activity, I searched few book stores near Karol Bagh to find out materials of UPSC. I have been visited few top coaching institutes to know their strategy, pattern and other factors. Also I got the fee related information
T.I.M.E FEE STRUCTURE For regular batch- 33000 Rs. For weekend batch-38000Rs. For crash course-19500Rs.(expected)
CAREER LAUNCHER FEE STRUCTURE For regular batch-37000Rs. For weekends batch-40000Rs. If you pay 5000Rs. After filling the form at office they will give you a discount of rupees 2500Rs.
MBAGURU FEE STRUCTURE For regular batch-36900 For weekends batch-40900 They are giving a discount of rupees 4000 as celebration discount and other discount of rupees 1000.
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CHAPTER 6 BUSINESS DEVELOPMENT AT SOUTH DELHI CENTRE
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After finishing major part of promotions for the company, Think and learn have maximum enrollments at Karol bagh centre thus to continue this record for the company is a great challenge. Apart from that we are planning to open up a new center in south Delhi The main activities at the centre can be • Responsibility for exclusive product. • Promotion of the center • Database checking • Meeting target of enrollments for centre • Handling customer grievances • Generating revenues by counseling & selling • Account maintenance , inventory check • Conducting classes & tests • Communicating with other centre heads • Finance handling for the centre • To generate references from enrolled students by Snowball technique. Throughout this I learned the various entrepreneurial activities involving comprehensive learning of the business environment. Now the basic target for the South Delhi to increase the enrollments or the selling.
Measuring effectiveness of promotion tools of Think and learn pvt ltd: A rough estimate of effectiveness of promotional tools can be measures by considering the enrollments forms filled by the students during their enrollments. This enrollment form has a section which can give us the information as to how the customer got to know about the company. Results can be measure after collecting all the forms.
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CHAPTER 6 CUSTOMER SATISFACTION SURVEY
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Customer satisfaction surveys provide the tools to improve organizational performance & profitability. Customer loyalty & satisfaction levels can be determined by analyzing the data gathered from our survey questions. It can help the organization with the following: • Discover new product & service development ideas • Determine what makes your customers loyal • Understand customer issues & relationship to your employees • Achieve a competitive edge with satisfied customers For the research, a survey of 15 questions was formed and 40 respondents (Smart Careers’ students & parents) were surveyed. The analysis below shows the findings of the questions that were asked in the questionnaire. There are few questionsQ1. Which course did you enroll for? Ans- (a)CAT (b)CSAT (c)Test series (d)CRT Q2. What do you like most about smart Careers? Ans-(a)Faculty (b)Test series (c)Study materials (d)others Q3.Did you get proper motivation from teachers? Ans-(a)Yes (b) No Q4. Did the center manager communicate important information timely? Ans-(a)Always (b)Only when asked (c)Never Q5. Was syllabus of all the subjects finished on time? Ans-(a)Yes (b)No Q6. Did the faculties helped in solving the doubts? Ans-(a)Yes (b)No Q7. Do you think that sufficient numbers of classes were allotted for all the subjects?
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Ans-(a)Yes (b)No Q8. Were classes held on time? Ans-(a)Yes (b)No Q9. How do you rate overall faculty? Ans-(a)Very good (b)Good (c)Average (d)Poor Q10. How do u rate study material? Ans-(a)Very good (b)Good (c)Average (d)Poor Q11. How do you rate test series? Ans-(a)Very good (b)Good (c)Average (d)Poor Q12. How do you rate infrastructure? Ans-(a)Very good (b)Good (c)Average (d)Poor Q13. Were your problems/ issues taken seriously? Ans-(a)Yes (b)No Q14. Did you like the management at Think and learn pvt ltd? Ans-(a)Yes (b)No Q15. Will you refer Think and learn pvt ltd to your friends/relatives in future? Ans-(a)Yes (b)No
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SWOT ANALYSIS
STRENGTHS- CAT is our biggest strengths and we have got lot of awards.CSAT is familiar among students in Delhi. Think and learn pvt ltd,A leading provider of satellite and tablet based educational training and test preparation solution. Selection of one student in IIM out of every 8 students. WEAKNESS- Non availability of doubt solving faculty at every center.
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VSAT problems like breaking of videos in between the class. Our broacher should be more attractive including our faculty members and toppers. We need a guy at main center so that he can entertain the people in front of the center. A small renovation should also be considered at our main office where foot fall is more than other center. OPPORTUNITY- We can open up few more branches after a marketing activity and where people gathering is more. If Byju sir will start taking classes, our number of student could be increase. Starting up medical and engineering courses would be profitable. Starting up a new batch for two months (crash course) would be useful for us as no company is providing this course in these days. THREATS- Few competitor s are already there in the market that offers engineering and medical coaching and have good number of students so if we start medical and engineering as our new product we need to have a proper and structural plan otherwise it can be change in failures
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CHAPTER 7 LEARNING FROM THE PROJECT
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By far the project has given me immense exposure of the marketing environment & the education sector. There has been learning at each stage of the project. Lot of responsibilities during the project has helped me to explore the industry completely. Few of my learning at the organization have been listed below: From BUSINESS: I. Understanding education industry and their trends. II. Competition in Education industry III. Understanding organizational structure & their responsibilities. IV. Employer & Employee relationship V. Business development activities VI. Flexibility for learning different skills From INDUSTRY: I. A little variation in the pricing strategy of the competitors may divert lot of customers. So, a continuous check over competitor’s products & prices should be kept. II. In an education industry which has a seasonal operation, promotional strategies are needed to be updated almost every other day to have an edge over the competitors. III. Advertising in the form of educational newspapers is the best marketing tool in the education industry. IV. A good mix of capital intensive & labor intensive techniques should be used in the promotional activity & it should be influenced by the demographic factors. V. Quality of service should be the last resort of any organization. VI. While deciding on promotional strategies or distribution material, nothing should be left on the customer to comprehend; a simple language creates a greater amount of response rather than using bombarded words. VII. In outdoor publicity activity is always mentally and physically tiring, hence rotation of workforce to different centers is important to reduce monotony in work. VIII. Promotional activities are all about response generation. During this, the masses should get a strong reason to respond.
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From CUSTOMERS: I. Customer relationship management with new, existing & also with those customers who reject the product. II. Understanding customer needs & dealing with them differently. III. Profiling of potential customers. Other Learning: I. Grooming personality II. Time management III. Team management skills IV. Team player & leadership skills V. Communication & interpersonal skills
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CHAPTER 9 CONCLUSION & RECOMMENDATIONS
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The research work is still incomplete but at this stage following conclusions & recommendations can be drawn from the findings. The company is operational on seasonal basis. All the selling, marketing & distribution activities are conducted only for five months (January - June). This intern has restricted the revenue growth of the company for limited period. Hence, the company can bring educational packages that provide the coaching for a year or two year comprehensive test preparation, by which the company will be operational throughout the year resulting in increase of its market share. Currently there’s only one segment of the audience that has been tapped by the company i.e., students preparing for CAT programs. Because of this products offered by the company is also less as compared to its competitors I.M.S, T.I.M.E & Edumentor. Majority (say, 80 %) of the workforce in the organization is part time or full time interns. Recruitment of the workforce is done on a random basis as the company doesn’t have a responsible H.R division. With permanent employees in the organization cost of training the new employees can be saved. Incentive based sales will ensure quality work & hard work from the workforce.
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ATTACHEMENT
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Please share your experiences and tell us how we can serve better? ………………………………………………………………………… ………………………………………………………………………. ……………………………………………………………………….. …………………………………………………………………………. NAME……………………… ADDRESS………………….
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REFERENCES
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• Information booklet of Think and learn • Information booklet IMS • Information booklet of T.I.M.E. • Career & Education Times , New Delhi • Websites : http://www.imsindia.com http://www.edumentor.co.in http://www.en.wikipedia.org www.smartcareers.co.in www.careerlauncherindia.com
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