MARKETING ANALYSIS- T.I.M.E.

T.I.M.E. Mission Statement

The following are the guiding principles for the working of all T.I.M.E. centers: Provide highest quality education to students Give students more than what we promise them Charge very reasonable fees- without compromising on the quality of inputs that we give Act in the best interests of students at all times

UNDERSTANDING ENVIRONMENT UNDERSTANDING T.I.M.E. UNDERSTANDING THE CONSUMER CREATING VALUE

5C Analysis
Macro Environment Micro Environment

Product Portfolio Analysis

BCG MATRIX

Understanding Consumer Behavior Developing Marketing Strategy

Segmentation Targeting Positioning

Marketing Mix
Product Place Promotion

CAPTURING VALUE SUSTAINING VALUE

Pricing
Feedback and 4A Model Recommendations

RECOMMENDATION

5 C Analysis
CONSUMER
People who want to do well in competitive examinations like MBA, IIT JEE, IAS, Bank PO

COMPANY
T.I.M.E is a leading preparatory provider(both classroom and test series) for MBA entrances and a market follower in IIT JEE, IAS prelims and Mains, Bank PO Examinations

COMPETITOR
T.I.M.E competes with CL, IMS which are all established brands for MBA Preparation There are also many online material providers like TestFunda.com which are more convenient for the customer and are usually faster at solving customer problems

COLLABORATOR
T.I.M.Es collaborators are Education Institutes, Schools and small coaching institutes to provide preparatory material and test series access to students studying in these institutes

CONTEXT
The education sector in the country is on the growth along with the number of students. Due to this there are also a large number of institutes that are coming up. T.I.M.E, which acts as bridge between these two is favorably set to see increased market potential in the future

BCG Matrix
Question Marks
GATE, CSAT,CMAT, JEE/Engg., Bank Exams, GRE, IELTS, TOEFL

Stars
CAT/MBA, GMAT

Dogs
NEET, CLAT, IPM, CRT, MCA, School Tuitions, CRT, IIT Foundation

Cash Cows
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Buyers Decision Process

Need Recognition
For a post graduate degree from a reputed institute To achieve a higher social status within the society Addition of Value to Life

Information Search

Evaluation of Alternatives
Testfunda T.I.M.E Career Launcher

PagalGuy

MBAUniverse

Online Material Providers

Conventional Coaching Institutes

IMS

TCY online.com

Local Coaching

Purchase Decision

Purchase Decision

Post Purchase Behavior

Would you recommend T.I.M.E for CAT/MBA Coaching ?

26% YES 74% NO

Are you aware of T.I.M.E as IAS/GRE/IIT JEE Coaching Centre ?

32% YES 68% NO

Would you join T.I.M.E for any of the above mentioned preperation ?
26%

Would you recommend T.I.M.E for any coaching for the above mentioned?
24% YES

74%

NO

YES 29, 76% NO

Segmentation
Demographic Segmentation
Age The specific segment for this product is the age group 20-26. Gender There is no segmentation based on gender as such but with the increasing preference for women by corporate houses, there may be an increased focus on female aspirants. Occupation TIME has identified working professionals as a specific segment and as such provides products specific for this segment in the form of weekend classes. IT professionals form a major segment out of this group. TIME provides various online products for this segment since they have internet access during office hours and can study during breaks in work. Education The potential market consists of graduates of all disciplines. However because there is huge proportion of engineers applying for CAT, TIME has specific courses for engineers. Also there is an active strategy to position TIME centres near prominent engineering colleges in a region. As such graduate engineers are a specific segment identified by TIME. Nationality TIME currently operates only in India and hence has no segmentation based on nationality.

Socio-Economic Segmentation
The primary segment identified is the students from middle class families. Marketing Based on Geography Initially TIME concentrated on the TIER-1 cities and Metros. But in a span on 10 years they have extended into 203 centres in more than 105 cities and towns across India. Behavioural Segmentation TIME offers different courses for different types of customers based on their aptitude. Some students are identified as CAT aspirants while the rest are put into courses for CMAT/ other state entrance examinations. Based on the customer segment TIME decides which product to advertise more. Some students who may not normally enrol for coaching classes are also identified as a segment and a specific product is offered to them i.e. test series. Occasion Segmentation Students usually appear for CAT when fresh out of college or after working for a few years. Also some aspirants appear multiple times for the exams. TIME offers different products for all these segments e.g. one year or two year courses. Some aspirants realize the need for coaching only when the exam is near. For these aspirants TIME offers short-term crash courses.

Targeting
After Identifying the segments, TIME has decided to go for Differentiated Marketing. They offer segment specific products to enhance their market share. The products offered by TIME coaching ranges from Class Room Coaching Test Series Correspondence Courses. Weekend Classes Coaching for MCA, IIT, etc.

Local Marketing Time employs a location specific strategy, taking into account the educational, demographic, socio-economic factors of the location specified. They employ a model akin to McDonalds Assign a specific locality to a individual or vendor and the Individual is free to employ the marketing strategies he sees fit.
Concentrated Marketing TIME offers significant discounts to meritorious students TIME also conducts an All India Tests and the top 100 students get to enrol for free. This strategy helps TIME increase their overall success rate

Positioning
Brand Positioning: The marketing campaign revolves around building the brand by associating brand with different types of personalities, things and marketers typically try to increase the favourability, strength and Uniqueness of the brand which is not the case with TIME Benefit Positioning: Companies try to position their products as a comprehensive solution to the needs of the Consumers. The needs can be Functional, Symbolic or Experiential in nature. Depending upon the type of need, companies typically position their products in the marketplace. Products and services offered by the competitors also plays a huge role in chalking out the positioning strategy of the company. TIME positions itself as a Comprehensive package to satisfy the functional needs of the Consumers. It Positions itself as a tool to Achieve Success, Every time.

4 Ps Marketing Mix
Price

Product

4 Ps
Place

Promotion

Product
The variety of course-packs provided by TIME are highly differentiated and caters to the varied needs of the students T.I.M.E. provides a range of product lines like in-class course package, study material, test series, and crash courses This highly flexible product mix provides TIME the opportunity the consumer surplus through product differentiation strategy to various segments of students Each of these have their own life cycles and TIME constantly updates/renews them according to changing patterns of the various exams

Price
The pricing strategy of TIME is such that it tries to get the entire consumer surplus for the product It prices products according to needs of the students and provides flexible course structures according to prices offered It also provides group discounts, discounts based on merit, means and previous exam records Its flexible pricing strategy provides a highly convenient product portfolio which students from varied backgrounds and skill sets can adopt to

Place
TIME maintains tie-ups with various colleges, schools where students can easily access varied tuition options for different exams It also provides flexible timings to the students thus making it more convenient to study for the exams using TIMEs products TIME has centers in various strategic places where students are very serious towards various competitive examinations It also tries to reduce the physical distance by providing various online based tests and courses which students can access through their personal computers It also provides distant learning course packages for students who are not close to TIME centers and have no reliable access to internet

Promotion
TIME conducts a variety of promotional activities which makes it a very popular coaching institute among the student fraternity It brings out banners of past students who have done exceptionally well and this motivates the current batch to join TIME It engages in TVCs and online marketing (YouTube, Ad words, Social Media Marketing) campaigns which helps it attract students from all over the country The main marketing agents for TIME are its students and majorly TIME has exceptional gains through word of mouth promotions The other marketing avenues are newspaper articles, pamphlets and various other print media sources

The 4A analysis is a powerful tool in measuring the effectiveness of the Marketing Mix of the company i.e. whether the Marketing Mix of the company has had the desired effect or not

Affordability

Awareness

4A

Accessibility

Availability

Accessibility To be easily accessible to students Multiple branches in a city mostly Areas of the city which are well connected with the rest of the city Awareness Number of people who respond to its advertisements Attend its mock sessions. Awareness of TIMEs presence in the mentoring segment for other competitive examinations or not.

Affordability TIME is a Market Leader and overpricing might lead to a loss in the market share. In the other segments, TIME is a follower. With appropriate pricing, it can wait for the Market Leaders to overprice and then play on that weakness to tap the segment

Availability TIME needs to make itself available to aspirants across the country. This is essential for Market Development and penetrating into the existing Market segments. As a result, TIME has 203 centers in 128 cities.

Ansoff Matrix