Escolar Documentos
Profissional Documentos
Cultura Documentos
ON
BUSINESS DEVELOPMENT AND
COMPETITOR ANALYSIS OF
THINK AND LEARN PVT. LTD
BY:ASHISH MISHRA
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
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.
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
13.
ATTACHMENT
..45
14.
REFERENCES
..47
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 consumers 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
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:
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
10
CHAPTER 1
UNDERSTANDING
PRODUCT AT THINK &
LEARN PVT LTD
11
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
12
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.
13
14
CHAPTER 2
IDENTIFYING
COMPETITORS
15
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,
Competitors resources and capabilities
List of competitor
Career launcher
T.I.M.E.
MBAGuru
IMS
Competitors Reach
16
T.I.M.E.
CAREER LAUNCHER
MBAGURU
I.M.S.
NATIONAL
NATIONAL
DELHI/NCR,AGRA AND
NAGPUR
NATIONAL
COMPETITORS PRODUCTS
T.I.M.E.
CAREER LAUNCHER
MBAGURU
I.M.S.
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
17
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
312
330
821
16
479
329
761
13
4884
*
18
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
19
T.I.M.E.
1300
CAREER LAUNCHER
1450
IMS
3900
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
20
21
CHAPTER 3
MARKET LEADER
ANALYSIS
22
23
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
24
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 SMSs
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.
25
26
27
CHAPTER 5
PROMOTIONAL
STRATEGY
FOR THINK & LEARN PVT
LTD
28
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
29
30
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
31
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
32
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.
33
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.
34
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.
35
36
Sales Flowchart :
37
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
38
39
40
CHAPTER 6
BUSINESS DEVELOPMENT
AT SOUTH DELHI CENTRE
41
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.
42
43
CHAPTER 6
CUSTOMER
SATISFACTION SURVEY
44
45
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
46
47
48
SWOT ANALYSIS
49
50
51
CHAPTER 7
LEARNING FROM THE
PROJECT
52
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 competitors 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.
53
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
54
55
CHAPTER 9
CONCLUSION &
RECOMMENDATIONS
56
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 theres 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
doesnt 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.
57
58
ATTACHEMENT
59
Please share your experiences and tell us how we can serve better?
.
..
.
NAME
ADDRESS.
60
61
REFERENCES
62
63