PowerPoint Presentation
Consulting Project Client: T.I.M.E., JamshedpurAbhipsa
PandaSambit Kumar DwivediSandeep Kumar JhaSwaroop Kumar Venkata
DRoad Map2Final GoalApproaching the organization and getting
preliminary problem statement ApproachDeep dive to find out the
real problemProblem AnalysisIndustry analysis, Organization
analysisPrimary AnalysisPrimary and Secondary Data on Consumer
Expectations and existing Marketing activitiesData Collection
Analyze Data to come up with Consumer Insights Data
AnalysisStrategize a Marketing Plan to fulfill the Objective
Business StrategyRun a pilot program to test the effectiveness of
the planPilot RunIdentification of Organization(T.I.M.E)1234567
Introduction & Relevance of the ProjectExecutive Summary of
Coaching Institutes in India4Coaching class market in India is
highly fragmented and regional in natureAs of 2012, coaching class
market is worth USD 12.6 Billion.Though Private tuitions make up 75
% of this market, it has limited potential to scale.Drivers: High
propensity to spend on education, growth in double income nuclear
families and increased competition at graduation and
post-graduation level.Challenges: Person centric business, lack of
government support and constant changes in test patternGeographical
and Horizontal expansion of coaching institutes.PE/VC investments
which present an opportunity to scale up the business.Increase in
online activities (e.g. online tests, case materials etc)Few
players like MT Educare have been able to scale up operations in
fragmented tuition segment.Players like IMS, Career launchers and
T.I.M.E. have more than 60 % market share in MBA test preparation
space.MarketDrivers & ChallengesTrendsCompetitionEntrance Test
Preparation Market is growing rapidly and is fiercely
competitive5OverviewEntrance Test Preparation Market
(2008-2012)Entrance test preparation is process driven as content
can be customized across centersGraduate Entrance Test Preparation
Market More than 80 % of the total test preparation marketDemand
for coaching centers is high due to fierce competition among
students for higher education professional coursesThe test
preparation market for entry into a graduation course is dominated
by the engineering courses followed by the medical coursesPost
Graduate Entrance Test Preparation Market Post graduate coaching is
dominated by MBA aspirantsMajority of the tests are held at
national level and are aptitude based.Easy to scale due to lower
dependence on particular faculty and higher focus on standardized
content and study material 20 %Entrance Test Preparation Breakup
(2012)
Approach to the Project and Deep Dive into Project BriefThe
Preliminary Project Brief: The purpose was to increase enrollment
in Long term and Super Long Term Courses7Usually the long term
courses for college students cost less (average price per month)
and gives student more time, more attention to cope with the
challenges that real examination presents to them, yet majority
students opt for costlier short term courses. Short term courses
also conflict with the college examinations throughout the country,
yet they are more popular choice. It is tough to make the college
students and their parents buy the point that if the student is a
normal graduate s/he needs to start preparing for Management
entrance examinations as early as possible. Similarly for
engineering graduates it is a challenge to convey every time that
opting for MBA just after B tech / BE is a better option than to
opt for job first and then look for MBA. Also that classroom
courses are always better than correspondence and Test Series as it
involves interaction with competent peers faculty members for a
student to gain from, which no book can offer.
Client Deep Dive revealed that the real objective is to Increase
the Size of the Pie while creating a Positive Word of Mouth
Publicity for the Client8T.I.M.E. is the market leader in
Jamshedpur in MBA entrance coaching. Hence, it wants to Increase
the size of the Pie .Through increase in Super Long Term
enrollment, the organization wants toIncrease Word of Mouth
PublicityCreate more number of Positive InfluencersCreate a Brand
Identity for itself
Primary AnalysisPorters Five Forces Analysis10Growing gap of
demand vs supply making the market attractiveLow Entry barriers No
government regulationsSmall market to experimentDifferent
institutes having same or similar offerings Weak price
sensitivityConsumer pipeline almost through referralsCyclical
demandHigh cost for top notch MBAs as faculty Faculty prefer part
time to full timeBusiness operations to be matched with faculty
availabilityRisk of dependence on individual facultyLow propensity
for substitutesApprehensive because of high switching costsStandard
productsPoor success rate of non-traditional substitutes (online,
correspondence programs over class room programs)Limited number of
players with legacyFirst mover advantageMostly a franchise
modelMinimal advertising requiredSustained market leadershipNot
much of retaliation
Threat Of New EntrantsBargaining Power Of BuyersThreats Of
SubstitutesBargaining Power Of SuppliersIndustry RivalrySWOT
Analysis11STOWStrength
Focus on Learning ValuesCounselingApproachable FacultyHonesty/
Fairness in publicity Weakness
No/ Less number of WorkshopsLess Marketing Activities
Threat
More number of students opting for Vocation/ JobAggressive
marketing of competitorsSmall pool of aspirational
studentsOpportunity
Online ContentMobile App with question and answerTo expand the
category
PEST Analysis12PESTGovernment isnt very favorable to it and as
it signifies a failing basic education system. For making the
students concentrate more on 12th Boards exams and demotivating the
need of coaching, they assigned higher weightage to board results
for even engineering entrancesIts a costly service. Unlike
schools/colleges, they mean Business ,come with an accountability
factor. Their reputation relies on the number of success stories /
converts. Quality of teaching thus becomes paramount leading to a
intense costingMore than an option, a necessity nowEstimated number
of private tutors now exceeds the number o school/college
teachers87 per cent of primary school and 95 per cent of high
school students in metros receive private tutoringResults form a
drive in Indian society as an ego boostAstronomical fees charged
against success guaranteesMost coaching centers have an equipped
computer centers for the effective test atmosphereInstitutes like
FIITJEE offer video lectures for those who cant attend classroom
lectures, at additional pay. Mobile apps having test schedule,
flash cards, important formulas and course details Tie-Ups with
Schools/colleges are a new trend. Classrooms are being rented by
Coaching InstitutesPoliticalEconomicSocialTechnologicalThe Road
Ahead13Competitor AnalysisComparing Time against other key players
viz. CL and IMS on Performance, Convert Rates, Material Provided,
Quality of Faculty and Student DemographyUnderstanding the coaching
needs of the consumer (i.e students ) by doing qualitative
researchSubstantiating the findings by quantitative research, if
possible.Develop a differential marketing strategy based on
consumer needs.Special focus on designing a structure to help
popularize the courses in Tier 2 Colleges of Engineering,
mainstream Graduate CollegesImplementing the strategy on a sample
set of 3 such tier 2 colleges and evaluating the response by
surveysIf the client is satisfied with the result, up scaling the
structure across the organization
Thank You
