Marketing Management I

End Term Project Report on

T.I.M.E Education Consultancy
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ACKNO!E"#EMENT
We take this opportunity to express our profound gratitude and deep regards to our faculty
Pro$. %RE"A &AMINAT'AN of FORE school of Management for her exemplary
teachings, guidance and constant encouragement throughout the course. The blessing, help
and guidance gien by her, time to time, shall carry us a long !ay in the "ourney of life on
!hich !e are about to embark.
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TA(!E O% CONTENT&
TOPIC Page No.
Ackno)ledgement....................................................................................................................*
En+ironmental $orces a$$ecting t,e product category --------------..
Opportunities $or t,e company $or reasona/le success in t,is industry -------0
&tudy o$ competiti+e /e,a+ior-----------------------...12
Product and Positioning--------------------------.1.
Primary and &econdary Target
Audience..........................................................................10
&trengt,s and eaknesses o$ competitors------------------...13
4alue Proposition----------------------------...15
Re$erences
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1. En+ironmental $orces a$$ecting t,e product category
#$
"emograp,ic en+ironment 6 #ccording to %ensus &'(( )elhi has total population of
(,*+,,+,-.( !ith annual gro!th rate of (.-&/ . The literacy rate is ,*.0. / !hich sho!s
good chances for launching ne! consultancy center
#1 2e! Entrant3 !e need to focus on populated areas and start serices in established
branches there and ne! programs like online coaching !hich !ould help us to expand our
student base and can proide competitie adantage oer other , it !ill be cost effectie also.
Economic En+ironment6
#erage household income in )elhi are Rural 3Rs ,,04', urban 3Rs **.'' , and per capital
income is Rs (4''' .These figure are ery good in comparison to other places in 5ndia. 6er
capita expenditure in )elhi
rural3 (+*( , urban &'-47'-8(' data delhi.go.in$ this data sho!s increasing trend in
expenditure compared to preious years. These figures are ery encouraging for ne!
consultancy centers since %onsultancy is expensie and this data indicates that people can
afford it.
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&ocio Cultural en+ironment
1ocial hierarchy, traditions, social norms, customs play important role in indiidual
behaiors. 9nlike rural places these norms are not strictly implemented in urban areas. the
families in )elhi are mostly nuclear families. The families are mostly middle income group
are putting lot of effort for betterment of their children future. They focus mainly on
education !hich !ould be an opportunity for consulting centers
Natural En+ironment6
There is no effect of natural enironment on consulting business. 5n order to cut do!n the
usage of paper !e !ould prefer E documents.
Tec,nological En+ironment6
# technological change has opened ne! scope for coaching institutes. 5n )elhi the use of
internet according to 5#M#585MR: surey is *.& claimed users and 4 million actie 5nternet
users and is in second position in 5ndia. These statistics encourage us to launch ne! products
like online consulting sessions and online test so that een students from distant places can
use our serices. #nd !e can use it for adertising our %onsultancy centers.
Political7!egal en+ironment
)elhi is the political center of 5ndia. Many political policies are encouraging education.
6olicies like %entral 1ector 1cheme of Free %oaching ; %onsultancy for 1%, O:% and
!omen %oaching center business is can influence consultancy business. :ut as of no! there
!on<t be much impact of political legal enironment on %onsultancy business.
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(8 Opportunities $or t,e company $or reasona/le success in t,is industry
Market "emand6 5t is the total olume that !ould be bought by a defined customer group
in a defined geographical area in a defined time period in a defined marketing enironment
under a defined marketing program
Market demand= no of students >ualifying (' th and looking for higher education
no of students appearing for ('th exam = 4&',+*0 7approx ?indu figures$
)ropout percentage in )elhi according to 29E6# = &.-/
Market )emand = 4&',+*0 @ 7(''8&.-$/ =4'4*0..47approx$
%onsidering ag consultancy fee Rs &'''
Market 6otential = ('*,('' @ &'''= ('( cr 7approx$
There is huge opportunity for our consultancy business because T5ME already has a :rand
name, and has centers in many places across )elhi. Moreoer T5ME is proiding coaching
for arious competitie exams and helps students in selecting colleges.
Consumer6 Our consumers are students. T5ME is in to coaching for arious exams and also
conducting tuitions for school students. 1o it already had created a!areness among students
and the company expects the number of students being trained annually to increase from the
current figure of about (+4,''' to about &'',''' by &'(08&'(., !hich !ould be ery helpful
in !ord of mouth publicity
Industry6
T.5.M.E. has oer &' years experience in education industry. 6roiding coaching for arious
exams like %#T, M#T, AEE M#52 and AEE #)B#2%E), but also for international exams
like CM#T, CRE, 5EDT1 and TOEFD. T.5.M.E. trains thousands of students in aptitude tests
and communication skills as a part of preparing them for their campus placements, offers a
uni>ue 55T Foundation program aimed at students of the classes +th, ,th, -th and ('th. With
this huge experience in industry can proide opportunities for our company for reasonable
success in consultancy business.
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&upplier related $actors6
#s the main motie of the consultancy is thro!ing light on careers other than the traditional
careers of engineering, medical and M:#, it !ould re>uire a dierse pool of people for
proiding expert adice. They can tie8up !ith arious organiEations proiding education in
careers like archaeology, foreign language studies, geologists, etc.
C8 Identi$y and e9plain /rie$ly t,e rele+ant elements o$ t,e micro en+ironment $or your
company.
Company 3 The company aspect of microenironment refers to the internal enironment of
the company. This includes all departments, such as management, finance, research and
deelopment, purchasing ,operations and accounting. Each of these departments has an
impact on marketing decisions
Marketing intermediaries refers to resellers, physical distribution firms, marketing serices
agencies, and financial intermediaries. These are the people that help the company promote,
sell, and distribute its products to final buyers.
Customers The consumer market is made up of indiiduals !ho buy goods and serices for
their o!n personal use or use in their household. :usiness markets include those that buy
goods and serices for use in producing their o!n products to sell.
Competitors are also a factor in the microenironment and include companies !ith similar
offerings for goods and serices. To remain competitie a company must consider !ho their
biggest competitors are !hile considering its o!n siEe and position in the industry. The
company should deelop a strategic adantage oer their competitors.
Pu/lic this is any group that has an interest in or impact on the organiEationFs ability to meet
its goals. Media publics include ne!spapers and magaEines that can publish articles of
interest regarding the company and editorials that may influence customersF opinions.
Coernment publics can affect the company by passing legislation and la!s that put
restrictions on the companyFs actions.
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)$
Company 3
(. %ash rich companyG so funding is not a problem
&. 1trong marketing net!ork, our ne! :usiness can reach to most students
0. Wealth of experience in the education sector !hich !ould help us in designing our
products.
Marketing intermediaries
(. Oer -' franchise net!ork to reach our business to all parts of country
&. Marketing serices agencies like print media, t ads !ill hae impact on success and
failure of ne! products
0. Financial intermediaries are helpful in funding ne! products and maintaining li>uidity
Customers
(. 1tudents !ho are giing importance to future !ant consultant support to choose the
field of interest
&. With lot of options in present days and many more ne! courses added in curriculum
students are bit confused about their paths
0. 6arents !ho influence their children study are no! realiEing the !orth of other
courses also.
Competitors
(. Easy for other competitors in coaching industry to enter.
&. Coernment policies can bring ne! competition.
0. With ne! technology competitors are coming up !ith ne! products.
Pu/lic
(. Media publics include ne!spapers and magaEines that can publish articles of interest
regarding the company and editorials that may influence customersF opinions.
&. Coernment policies can affect the company by passing legislation and la!s that !ill
lead to ne! competition
0. 2COs !hich are helping out students in their career also lead to ne! competition.
E8 The career counseling for ('th class students has not gained much attention till no! but
the trend has been changing in recent past. # significant increase in the number of students
and parents goes for career related counseling for their children has been obsered. 1tudents
in the region are doing in depth research !ith the help of career counselors before deciding to
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pursue a certain course. Cro!th trend going to continue !ith fe! big players eying on this
segment
Fees can range from Rs (''' and go up to Rs (',''' depending on the counselor. #erage
industry figure !ould be bet!een Rs &,''' to Rs 0,'''H. :ut before they gie their precious
adice, most of counselors conduct an 5I test, aptitude test and it is for these tests and
counseling that counselors charge. With these results there is great hope for gro!th of our
business
F$
Political and legal en+ironment6 %hange la!s and policies can create opportunity or
competition in industry
Economic En+ironment6 the increaseJdecrease in spending capacity !ill hae impact on this
industry
Tec,nological En+ironment6 change of technology can change the mode of counseling from
face to face to online. 9se of innoatie gamification methods can also help identify
strengths in students.
"emograp,ic En+ironment6 6opulation gro!th, increase in literacy rate etc !ill increase
opportunity for industry.
&tudy o$ Competiti+e (e,a+iour
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%ig 1 66 Coac,ing Centers like IM& ,ig,ly /elie+es in A/o+e t,e !ine ad+ertising /y
pu/lis,ing ads like t,e a/o+e one to make t,e students a)are a/out t,eir institutes
t,roug, internet: maga;ines or ne)spapers
%ompetitor analysis is an essential component of corporate strategy. 5t is argued that most
firms do not conduct this type of analysis systematically enough. 5nstead, many enterprises
operate on !hat is called Kinformal impressions, con"ectures, and intuition gained through the
tidbits of information about competitors eery manager continually receies.L #s a result,
traditional enironmental scanning places many firms at risk of dangerous competitie blind
spots due to a lack of robust competitor analysis.
The first step of an effectie competitor analysis is to enlist the key competitors in the
category of interest.
Key Competitors6
5M1
Ed!ise
CE%1
Competitor Analysis6
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IM&
Pro$ile6
5M1 is an institute !ith oer 0. years of experience in educational guidance and consultancy.
Their motto is to motiate, mentor and guide students and all those !ho interact !ith 5M1 to
enable them to make the right career decisions. 5M1 is the leader in Management Entrance
training. The institute has been ranked .
th
in the education sector and ..
th
amongst the Top 4'
Most Trusted 1erice :rands across 5ndia 7#%82ielsen ; :rand E>uity, )ecember &''0$.
Today, 5M1 has spread its !ings across 5ndia !ith more than -'M centers and oer 4','''
students, successfully making it to some of the most prestigious institutes in 5ndia and abroad.
&trategies Adopted6
5M1 %ollege #dmission 1tudent 1upport program uses its expertise to analyEe a
customerFs profile and match it to an appropriate international institute. For this,
%ampus 6oint has deeloped links !ith many reno!ned colleges across the globe to
facilitate the application process and ensure admission for desering students in the
best institutes abroad.
5M1 6ublications today has a repertoire of offerings comprising a complete solution
for any aspirant of management education. These include a monthly magaEine,
#danc<edge M:# along !ith its !eb portal, an annual career guide along !ith an
online :8school directory, and the :8school Tour 8 the first eer eent launched in the
country to facilitate direct interaction bet!een 5ndian :8schools and M:# aspirants.
5n the coming years, 5M1 6ublications plans to pitch itself as a one8stop shop for
career8counseling and information pertinent to all mainstream and alternatie careers.
Ed)ise
Pro$ile6
Ed!ise 5nternational 1erices is 5ndiaFs leading oerseas education consultations. Ed!ise
proides >uality serices to students !ishing to pursue higher education oerseas by
proiding adice and assistance regarding uniersities, course selections, admissions, isa
applications, accommodation, and related financial information such as scholarships and bank
loans.
Today, Ed!ise has not only deeloped rich connections !ith a !ide net!ork of reputed,
international uniersities located in oer &( countries such as 91#, 9N, %anada, #ustralia,
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2e! Oealand, 1ingapore, 5reland, 1!itEerland, France, Malaysia and 9#E, but Ed!ise also
!orks ery closely !ith seeral high commissions and educational bodies.
&trategies Adopted6
Representaties of uniersities in the 9N. 91#, %anada, #ustralia, 2e! Oealand,
1ingapore, 5reland, 1!itEerland, France, Malaysia and )ubai.
%hoice of 9niersitiesJ%olleges !ith lo!er tuition fees and hassle free admissions to
collegesJuniersities.
5EDT1 Registration %entre for :ritish %ouncil.
#cademic 6ath!ay 6lanning 75nterest, %areer and #ptitude Testing$.
)irectors !ith substantial experience and background in the field of education.
# competent team of experienced counsellors assisting students in the process of
application to the representatie uniersity and their isas.
Experienced and certified faculty members, ensuring the right input imparted to the
students.
Focus on matching the profiles of the students !ith the right institution and
destination.
?osting direct interie!s from 9niersity representaties.
Ed!ise prides itself on its personaliEed attention to students and consciously seeks to
aoid an assembly line approach to counseling students.
Exhaustie information library %)s, brochures, ideo tapes, application forms etc.
6ersonaliEed coaching for CM#TJCREJ1#TJTOEFDJ5EDT1 through preparatory
material and %)s by experienced faculty and !ell8e>uipped library.
#EC&
Pro$ile6
CE%1 is a professional Oerseas Education %onsultancy firm based in :angalore 5ndia, !ith
seeral years of experience in placing the right student in the right uniersities. They
specialise in proiding admissions in 91#, 9N, Cermany, #ustralia, %anada, 5reland,
1!eden, Finland, 1!itEerland, France, )enmark, 2etherlands, 2e! Oealand, 1ingapore.
CE%1 1tudy #broad Team helps students to make the right oerseas education decisions.
Their expertise in the field of oerseas education has made them a time8tested resource in
helping students to gain admission for suitable courses in recogniEed uniersities across the
Clobe. We are team of informed and committed senior education adisorsJcounselors !ho
understand the need of the students and their parents or sponsors. The organiEation firmly
beliees in customer serice to the students and their client institutions.
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&trategies Adopted6
CE%1 staff has many years of experience helping 5ndian 1tudents to help them to
study abroad.
CE%1 proides %omprehensie backup serices for 5ndian 1tudents throughout their
period of study abroad.
CE%1 hae successfully placed students in many top 9niersities and hae the offer
letters to proe it.
CE%1 conduct seminars to prepare the students on the 5nternational ?igher Education
1ystem before they leae for their studies.
CE%1 offices proide TOEFDJ5EDT1 1upport including libraries of TOEFDJ5EDT1
Materials for the students to borro!.
PRO"<CT AN" PO&ITIONIN#
4A!<E PROPO&ITION6
KWhere dreams meet direction.L
o )etailed analysis of studentFs interest, aptitude and personality, along !ith
career fitment among different careers.
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o We help them to identify sources of information and disseminate kno!ledge
on careers and life skills !ith simplicity and perfection.
PRO"<CT (ENE%IT&6
#oid the saturation in traditional professions
Do! cost
Expert adice
5dentifying the strengths and interests of the students
6ersonally catered career solutions
Points-of-parity (POPs) P #ssociations that are not necessarily uni>ue to the brand but may
be shared by other brands i.e. !here you can at least match the competitors claimed benefits.
While 6O6s may usually not be the reason to choose a brand, their absence can certainly be a
reason to drop a brand.
6O6 bet!een our competitor and us is career counseling to students.
Points-of-difference (PODs) P #ttributes or benefits consumers strongly associate !ith a
brand, positiely ealuate and beliee they could not find to the same extent !ith a
competing brand i.e. points !here you are claiming superiority or exclusieness oer other
products in the category.
6O)s bet!een our competitors and us are3
1. Cetting in touch !ith students at the age of (. on!ards.
2. 9se of dashboards helpful in representing.
We proide each and eery student !ith a personaliEed dashboard empo!ered !ith follo!ing
features3
(. #ssessment %entre P 1tudents can take the assessment !hich !ill publish their career
report automatically.
&. Mentoring %entre P 1tudents can ie! their mentor and re>uest for scheduling a session
!ith any counsellor. 1tudents can also ask their >uery to the mentors and receie solution to
their career >ueries.
0. %areers and %olleges exploration P #n easy searching option to explore the details on &4'M
career path!ays and colleges. 1tudents can easily access information about colleges and
careers they !ant to pursue.
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.. 6rofile %reation P 1tudents can create hisJher o!n profile !ith academic, personal details.
1tudents can also upload their photographs.
COMM<NICATION
Ob"ectie of the respectie communication plans3
#fter studying market and analyEing the competitors !e concluded that there is a category
need !hich can be fulfilled by our product. 1tudents hae many desires. They hae different
goals at different point of life. They find it difficult to fix one goal in life because they are not
a!are of their o!n strengths and !eakness. They do not kno! ho! to find out their o!n
strengths and !eakness. Which %areer !ill be best for themQ %ompetitors like 5M1, Ed!ise,
CE%1 etc do not proide such type of guidance and counseling. Our ob"ectie is to create
a!areness among the student community about the serious issue of choosing a suitable career
based on their ability and inherent talent !hich !ill lead to "ob satisfaction, creatiity, and
success in their personal as !ell as professional life.
%ommunication 1trategy can include both conentional, aboe the line i.e. mass
communication and belo! the line communication.
A/o+e t,e line communication can be done through Radio FM and 5nternet !hich !ill be
directed to!ards the parents of the students.
(elo) t,e line communication can be focused on students through interie!s at home for
parents, etc .We should create a!areness in school amongst teachers about the suitable career
planning for the students in their early stage of life.
Pu/lic Relations6 1electing 6R agencies to publish about T5MEFs ne! enture into early
career planning for students in ne!spapers read by parents.
"irect Marketing6 1ponsoring different sports, music or cultural competitions.
Personal &elling6 6ersonal interaction !ith ?ead of the schools and parents.
Communication &trategy o$ major competitors6
IM&3 K6ersonaliEed counseling at eery stageL
%reating an effectie study plan for %#T and other entrance tests
:81choolJprogram short listing based on student profileJinterest
Form filling assistance for test and institute application process
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#ny other information that the student may need during the :81chool selection
process
Ed)ise3 Kone stop solution for all your international study needsL
%ore actiity lies in assisting students to make the right choice !ith regard to pursuing
education in oerseas educational institutions
Oerseas education to the doorstep of eery student !ith affordable ; deoid of
cumbersome procedures
%ounselors hae !orked ; studied abroad
%ig * 66 &ocial Media ,as /ecome t,e largest plat$orm $or any product t,at is launc,ed
into t,e market )it, t,e o/jecti+e o$ targetting t,e yout, audience
1. Primary and &econdary target audience
The students !ho hae "ust completed their tenth board exams !ould fall in the category of
our primary target audience. This is mainly because ery often students at these age category
7(48(+$ do not actually kno! the !hereabouts of their strengths, !eaknesses and long term
study of interest. :ased on the marks that they usually score and sometimes out of the trends
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follo!ed by peers, family members, students tend to select their streams of higher study.
?ence our consultancy aims to proide counseling to such students to impart in them a sound
kno!ledge of their core abilities to make a genuine career option. This !ill be done though a
series of psychometric tests, aptitude tests and (8& rounds of personal interie!s.
The secondary target audience !ould be the high school teachers and mentors associated !ith
the tuition centers for arious middle and high school students. These are the target audience
!hom our consultancy should aim as their secondary target and brief them about the concerns
relating to the careers of the students. They are the ones !ho can mould the studentsF talent
and can understand the ob"ectie of our consultancy. They can in turn ask prospectie
students !ho might hae some >ueries related to their future life and ambitions.
*. &trengt,s and eaknesses66 Comparison )it, competitors
2ames like 5M1, CE%1 and E)W51E hae done tremendously !ell in the field of education
serice and consultancy serices. While 5M1 has cared out a niche for itself in the field of
higher education entrance examinations, CE%1 and E)W51E hae proided ample scopes
for students relating to education counseling matters. CE%1 generally guide the students !ith
the list of the uniersities that one can apply to for higher education and the associated
entrance examination details. 1imilar serice is offered by E)W51E. 5n contrast, the
education consultancy !hich !e are launching !ill not proide any of these serices.
T.5.M.E. education consultancy !ill act as a guiding light to mainly the high school students
!ho often mismatch their career and in the long run face difficulty in adapting to situations
and land up in "ob dissatisfaction.
Our consultancy !ill proide the serice in three broad steps. We hae designed these steps
keeping in mind our strategy of being the first8moer adantage ahead of our competitors in
the field of education consultancy to high school students33
Firstly our !ebsite !ill ask the interested students to fill in their education details, past
academic records, their likes and dislikesJ study of interest and subse>uent future plans and
ambitions. Thereafter !e !ill conduct onlineJoffline psychometric and aptitude tests. On the
basis of these tests, our experts !e !ill be able to "udge and make the decisions relating to the
career of the students. Finally, the one thing !hich !ill differentiate our organiEation from
others is the fact that !e !ill hae tie8ups !ith fe! of the leading experts and indiiduals
!ho are !orking in dierse streams of career. Cenerally, consultancies like CE%1 etc.
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proide "udgments based on the decisions of the experts in the office itself. :ut our approach
!ill be on a one8to8one basis. For example if a student is interested to take up ciil serices as
his or her ambition, !e !ill proide a personal interaction !ith a leading expert !ho might
be currently !orking as an 5#1J561 officer. 1uch tie8ups !ith indiiduals from dierse fields
!ill gie the students all the necessary details and information they are curious to kno! about
related to their area of interest.
Role of the guardians and parents can neer be undermined. :ased on all the information and
tests results, !e !ill finally conduct a personal interie! !ith the student as !ell as the
parents. 5n most cases, parents like to see their children gro! up as a technocrat or a doctor. 5t
is here !e need to counsel them and make them realiEe the real strengths of their children.
=. 4alue Proposition
(rand66 T.5.M.E
Product66 Education %onsultancy
Target Customers66 #s already mentioned, !e hae segmented the target audience into
primary and secondary. The primary target customers !ill be high school students and
secondary target audience !ill be the arious mentors and teachers of high school.
(ene$its66
A+oid t,e saturation in traditional pro$essions66 %rom close to (,4'' institutes and 4
lakh seats in &''48'* to 0,''' colleges ; (4 lakhM seats in &'((8(&, the options for an
aspiring engineer has simply doubled in the *8+ years. 1imilar is the case !ith the number of
medical aspirants. There is a kind of saturation that has been created in the field of traditional
professions. ?ence a fresh outlook and approach is the call of the hour to bring about a
change in the mindsets of 5ndian students before the eils of unemployment starts spreading
its branches across the country.
!o) cost66 With a fees in the range of Rs. &4''80'''J8 our consultancy aims to
proide a great opportunity to the students to hae an in8depth analysis of their future
career.
E9pert ad+ice and identi$ying t,e strengt,s and interests o$ t,e students.
4alue proposition66 Where dreams meet direction.
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Re$erences
http://ihds.umd.edu/IHDS_files/!HDinIndia.pdf
http://""".ccs.in/ccsindia/pdf/#h!_#ity$!Demo%raphic$!Profile.pdf
http://""".delhi.%o&.in/"ps/"cm/connect/ef!'()*d+,+d+!),!d,d'!-c!.-+ed/So
cio-/conomic0Profile0!++-
1ar2etin% 1ana%ement- 3 South 3sian perspecti&e4 +*e 5y Philip 6otler
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