Siddhanth Munjal Interim Report

SUMMER INTERNSHIP PROGRAM-2013

PROJECT REPORT ON

“DEVELOPMENT OF BUSINESS STRATEGIES AND

MEASURING THE EFFECTIVENESS OF DIRECT MARKETING

AT EDUMENTOR EDUCATIONAL SERVICES”

Submitted to:-

Faculty Guide : Prof. Harshvardhan Kothari

Company Guide : Mr. Vikas Jain

Submitted by:-

Name : Siddhanth Munjal

Enrolment Number : 12BSP1213

“EDUMENTOR EDUCATIONAL SERVICES, NEW DELHI”

SUMMER INTERNSHIP PROGRAM 2013

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INTERIM REPORT ON

“DEVELOPMENT OF BUSINESS STRATEGIES AND

MEASURING THE EFFECTIVENESS OF DIRECT MARKETING

AT EDUMENTOR EDUCATIONAL SERVICES”

By

Siddhanth Munjal

12BSP1213

IBS GURGAON

EDUMENTOR EDUCATIONAL SERVICES, NEW DELHI

Date of Submission: 5th May, 2013


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AUTHORIZATION

This is to certify that this is a bonafide Project Report submitted in Partial Fulfillment of

the requirements of PGPM Program of IBS Business School.

This report document titled “DEVELOPMENT OF BUSINESS STRATEGIES AND

MEASURING THE EFFECTIVENESS OF DIRECT MARKETING AT

EDUMENTOR EDUCATIONAL SERVICES” is a submission work done by Siddhanth

Munjal under the guidance of Mr. Vikas Jain, CEO, Edumentor Educational Services.

This report has been formally submitted to Prof. Harshvardhan Kothari Faculty, IBS

Gurgaon.

This report has been verified and authenticated by:

Prof. Harshvardhan Kothari

Faculty Guide

IBS, Gurgaon


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ACKNOWLEDGEMENT

I would like to express my profound gratitude to all those who have been instrumental

in the preparation of my project report. To start with, I would like to thank the

organization Edumentor Educational Services providing me the chance to undertake

this internship study and allowing me to explore the area of marketing which was

totally new to me and which would prove out to be very beneficial to me in my future

assignments, my studies and my career ahead.

I wish to place on records, my deep sense of gratitude and sincere appreciation to my

company guide and mentor, Mr. Vikas Jain, CEO, Edumentor Educational Services who

suggested and prepared the frame work of the project. I would also like to thank him for

his continuous support, advice and encouragement, without which this report could

never have been completed.

I am deeply grateful, to my faculty guide Prof. Harshvardhan Kothari for his

invaluable suggestions, comments, feedback and support throughout the internship.

Lastly, I wish to thank my family and friends for their valuable help and support.


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ABSTRACT

Since its inception in 2006, Edumentor Educational Services has carved a rather niche

market for itself by advancing into the area of Undergraduate test preparation. The

capital and labour intensive techniques applied have helped promote and advance the

business to a new level.

Each time a new strategy is launched or even thought of, it is copied by our competitors

in no time, which made Edumentor to react quick and smartly, each day. Thus the

company realized its potential of not being a market oriented organization, but the one

which stood apart and created Points of Differentiation, rather than promoting through

the basic means. This difference was launched by introduction of various products and

marketing strategies.

The project involves on overall learning of Business environment for a start up in the

Indian Educational sector with its primary focus on Business development in new

markets to ultimately increasing the overall market share and hence the revenues for

the company by the virtue of its product.

In one of his seminars at IBS Hyderabad, Professor Koshy said, “The aim of marketing is

to know & understand the customer, his feeling, such that the product or service fits him

and sells itself”

With this, the project is divided into the following mainly-

Critical Competitor Analysis- The focus is laid on the strategy which our

competitors, such as IMS, Career Launcher, Pratham, New Parameter, Sachdeva

Classes, use, to close a sale, and its analysis was done based on various

parameters such as Fee Structure, Infrastructure, No. of students/batch,

Counselling methods etc. We also went in for mystery shopping to experience the

edge our competitors may have.

Creating competitive points of parity and unique points of differentiation.

Development of Business Development Strategies- Example, tie-ups with

Tuition Centres, Effective counselling methods.

Board Centre Activity- A team of 450 Associates, 20 Managers and 5 Zonal

Managers in every zone of Delhi for 6 days-6th, 15th, 20th, 22nd, 25th and 30th

March to distribute the sample papers. Every zone is divided into various

clusters, with every cluster a constituent of approx. 4-5 schools, led by a manager

and a zonal manager, and an external vigilance team.

Market Research to measure every student’s requirement from a coaching

Institute, and later on to measure their satisfaction levels.

Also, new ideas during the classroom mode of study are being generated for

mutual benefit, such as the Personality Development Program.


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TABLE OF CONTENTS

Authorization .......................................................................................................................................................... 3

ACKNOWLEDGEMENT ......................................................................................................................................... 4

Abstract .................................................................................................................................................................. 5

Introduction .......................................................................................................................................................... 7

The product ........................................................................................................................................................... 9

Competitor Analysis............................................................................................................................................ 12

Comparitive analysis .......................................................................................................................................... 13

SWOT Analysis .................................................................................................................................................... 14

Plan for completion of project............................................................................................................................ 17

REFERENCES ....................................................................................................................................................... 19

ANNEXURE I ........................................................................................................................................................ 20

ANNEXURE II ....................................................................................................................................................... 23

ANNEXURE III ..................................................................................................................................................... 25


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INTRODUCTION

About the Organization

Established with the name “Focal”, the company started with a base of 35 students,

which grew to about 200 in 2007. Since then, the company has been growing multi fold.

It occupied a market of about 2700 students by 2010, and achieved a target of 3000 plus

in 2011, which made it second to the leader in this particular sector. In 2014 the

company is eyeing the figure of 3500 plus which will make it the market leader. The

name of the organization changed from Focal to Mentor and then later on to Edumentor

Educational Services in 2009. The race to the top is being accompanied with the help of

about 60 interns pursuing their Masters in Business Administration. Currently, the

organization has 14 centres across Delhi/NCR.

Vision of Edumentor

“Edumentor was established with the goal of providing specialized coaching to the

students who seek admission in BBS / BBA / BBE. Our aim was not just to open a coaching

institute but rather to create a Knowledge Hub where students are the top priority. That is

the reason why our faculty consist only of those who have been to the best BBA/BBS/BBE

& MBA institutes making us ‘The Only Specialist BBA/BBS/BBE Entrance Coaching

Institute’. At Edumentor our core competency lies more in mentoring our students to the

right path of education than merely preparing them to achieve the best results.”

Purpose of the Project

To understand the processes of Business Development and various attributes

related in the actual project with an objective to develop Entrepreneurial

capabilities by-

Going for various Centre tie-ups across Delhi

Being a part of the Board Centre Team where I have been assigned the

designation Zonal Manager, South Delhi handling all the Board Centre Activities

of my cluster.

Being a part of the counselling team at the Malviya Nagar, and interacting with

my customers daily, resolving their problems, and providing them guidance.

Managing the Malviya Nagar Centre, New Delhi.

Directly associated with the online marketing of B.El.Ed. (Bachelors of

Elementary Education) and Relationship Management at Head Office, Laxmi

Nagar.


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To Study and gain in-depth knowledge of channel management by-

Conducting counselling sessions on phone-incoming/outgoing, a direct reach to

students is formed, which helps us to create walk-ins in various centres.

In Board Centre Activity, we distribute sample papers to the student-a form of

Direct Marketing, which helps in creating walk-ins to the centre thus forming a

channel between the students and the company.

Scope of the Project

The main aim of any organization is to grow and sustain its development. With the same

Purpose, the scope has been laid, which focuses on the organizational development of

Edumentor Educational Services by the virtue of its product as well as the strategies.

Limitations of the Study

Reach- the Company covers only Delhi/NCR region, it doesn’t go beyond.

Financial issues- The Company is not funded by any outside source/agency, and

thus has limited resources to offer during various Business deals.

The results and conclusions of the project cannot be generalized, as the area of

work under my coverage is restricted to the South Zone.


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THE PRODUCT

1. BBS/BBA/BIBF

These degrees are designed to give a broad knowledge of the functional areas of a

company, and their interconnection, while also allowing for specialization in a

particular area.

Admission Notifications for the main Colleges and Universities.

i. Delhi University (Entrance test for BBS) Notification –April.

ii. Symbiosis Deemed University, BBA , Notification –March

iii. Jamia Hamdard, (Entrance test for BBS/BIBF) Notification- March

iv. Guru Gobind Singh Indraprastha University (IP) (Entrance test for BBA)

Notification- March.

v. Narsee Monjee institute of Management Studies, BBA (Own campus in Bombay)

240 seats out of which 15 % for management Quota. Christ , Bangalore, BBA

vi. University Of Mumbai (Entrance test for BMS) Notification –May

Eligibility is different for different Universities and Colleges. For example in DU, a

minimum of 60% in 10+2 CBSE along with Maths and English being a

compulsory subject is the eligibility criteria.

A total of 891 seats in DU, 590 seats in Symbiosis, 5720 seats in IP University,

and 120 seats in Jamia are available.

2. HM

Hotel Mangement is a 3 year degree course offered by various institutes and

universities.

The Hotel Management course has the following top colleges under ITI.

Institute of Hotel Management (Delhi, Bangalore, Aurangabad, Calcutta,

Ahmedabad and Chennai)

Welcome Group Graduate School of Hotel Management, Manipal-75 seats

Banarasi Das Institute of HM and Catering Technology (IP Univ.)- 120 seats

Oberoi Center of Learning and Development, Delhi

Christ, Bangalore

Admission into these colleges is through a Joint Entrance Test (JEE) with an eligibility of

Pass in 10+2 with English as a subject, and the test date being 16th April 2011.


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3. MASSCOM

A 3 year degree course, which provides different degrees depending on each college.

B.A.(Hons.) Journalism or Bachelors of Mass Media and Mass Communication

(BMMMC) are taught in Delhi University

Some of the top colleges in Delhi University are Indraprastha College for Women,

Kamala Nehru College, Lady Shri Ram College, Delhi College of Arts and

Commerce, Maharaja Agrasen.

Each college has a different admission criteria and different number of seats.

Bachelors of Journalism and Mass Communication (BJMC) is course provided by

GGSIPU [ IP University ]

4. LAW

Edumentor coaching institute mainly focuses on training its students for the Common

Law Admission Test(CLAT), which constitutes 11 colleges.

NLSIU, Bangalore, 80 seats

NALSAR, Hyderabad, 80 seats

NLIU, Bhopal, 80 seats

NUJS, Kolkata

NLU, Jodhpur

HNLU, Raipur

GNLU, Gandhinagar

CNLU, Patna

RMLNLU, Lucknow

RGNLU, Patiala

NUALS, Kochi

The last date of form submission is 30th March 2013, and the test was on the 28th April

2013.

5. ENGLISH (Hons.)

The Combined Aptitude Test for English is a test for pursuing B.A. English (Hons.) which

was introduced in 2009 with a total of 350 seats.

The various colleges under CATE are, Lady Shri Ram, Kamala Nehru, Hindu, Zakir

Hussain, Delhi College of Arts and Commerce, Miranda House, IP College for

Women, Maharaja Agrasen and Ram Lal Anand(Evening).


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The eligibility criterion for admission is a minimum of 60% in English and a

minimum of 60% in the best of 4 subjects.

6. B.El.Ed. (Bachelor of Elementary Education)

A four year degree course, which offers a number of advantages for girls, however, you

can teach only up to 8th Class in case you do B.El.Ed after 12th Class.

B.El.Ed. is a course only to girls in 8 colleges of Delhi University some are Lady

Shree Ram College, Gargi College, Miranda House etc....

12th+B.El.Ed=PRT(Primary Teacher)

Graduation+B.Ed.=TGT(Trained Graduate Teacher)

Post Graduation+B.Ed.=PGT(Post Graduate Teacher)

Options Available

1) Regular Classroom Programme

2) Distance Learning

FEATURES CLASSROOM DISTANCE LEARNING

Basic reference material Yes Yes

Classroom Training Yes No

Class Assessment Tests Yes No

Comprehensive Tests Yes Yes

Simulated Tests Yes Yes

Competitive Test Ranking Yes Yes

GD & PI Training Yes No


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COMPETITOR ANALYSIS

A very necessary aspect for any sector of the industry is the potential which a

competitor can possess. Thus, it becomes necessary for every organization to be

prepared with their SWOT analysis, and thus come up with an effective strategy,

formulation, implementation, monitoring as well as control.

Major Competitor’s are-

IMS

T.I.M.E.

Career Launcher

PT Education

Smart prep

Pratham

New Parameter

The following pie diagram describes the market share of various competitors:-

21%

7%

30%

15%

5%

5%

9%

8%

Market Share

Edumentor

T.I.M.E

IMS

Career Launcher

PT Education

Smart Prep

Pratham

New Parameter


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COMPARITIVE ANALYSIS

NAME PROGRAM COURSES

OFFERED

SCALE OF

OPERATION

IMS MAX-PREP CAT,BBA,LAW,

HOTEL

MANAGEMENT,

BCA etc.

NATIONAL

EDUMENTOR Not Applicable BBA/BBS,

MASSCOMM,

HM, LAW, B.EL.ED,

CATE, CA-CPT

DELHI -NCR

T.I.M.E. Crash Course

For BBA

entrance

CAT,LAW,BBA,H.M. NATIONAL

Career Launcher BBA Express BBA, CAT, LAW, HM,

etc..,

NATIONAL

PT Education Career After XII CAT, BBA, LAW, HM NATIONAL

Smart Prep Not Applicable BBA, HM, LAW etc. DELHI

New Parameter Not Applicable BBA, BCA, HM, LAW DELHI

Pratham Not Applicable BBS,BBA,HM,LAW,

CATE,MASSCOMM,

etc.

DELHI

*A questionnaire for analyzing the factors that affect the choice of a student/parent was

Formulated, whose results will be compiled using the SPSS tool. (Refer Annexure (i))


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SWOT ANALYSIS

STRENGTHS:-

WEAKNESSES:-

Focus- Specialist educational institute

team, Best faculty and big names from

the industry

Alumni of CBS-Creative and

motivated team

Presence pan-delhi , Strong Research and devlopment

team

Unstructured organizational

structure, Laid back attitude

Less visibility and awareness,

only operational for 6 months.

Very few permenant personnel (HR)


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OPPORTUNITIES:-

THREATS:-

Diversification to other coaching markets, more

visibility with mass media marketing tools

More permenant centres, establishment of student information

system.

Expanshion geographically, s[pread

of centres to other cities too.

High competion

New region specefic

entrants, Example-singh study circle

A better brand name that leads to

brand loyality.


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Proposition of Ideas

A new improved self study plan for the students.

Planning interactive sessions along with the theoretical knowledge.

Regular feedback, as well as personal mentoring sessions.

Establishing operational efficiency within and across centres.

Conducting surprise quizzes and sending students on various drills, for

enhancing their Business Awareness skills.

Personality Development Program and hence seek references from them, by

keeping their levels of motivation high. (See Annexure II)

ZONAL ANALYSIS

With the Malviya Nagar Office under my control, the following study of analysis is under

development-

How many students are registered at Malviya Nagar as compared to other

centres of Edumentor?

Profiling of students who come to Malviya Nagar?

Number of students who approach Malviya Nagar for other centres- Incoming

and Outgoing.

Result of Malviya Nagar in comparison to other centres.

Does Laxmi Nagar being the head office make a difference to sales?

What if every zone was allotted a zonal head office, would it affect the business

at Laxmi Nagar main branch?


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PLAN FOR COMPLETION OF PROJECT

Step 1-

Understanding the Organizations objective and working on similar lines, in an efficient

manner, for business development as well as Centre Management.

Step 2-

Analyze the market segment on the basis of:-

Step 3-

Understanding why Malviya Nagar Center does one fifth of the sales of head office

(Laxmi nagar center) although it covers more geographical area than the head office.

The following factors would be taken into account and the study would be a

comparative study between Head office and Malviya Nagar.

Income Levels

school type

Social background

Family education

level

Age & Gender


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Step 4-

Analysis of the Competitors Product

Step 5-

Implementing Ideas

Step 6-

As of now, the following results have been obtained through the Personal Counselling

sessions, and Referencing. The same project is scheduled to be completed by 10th June

2013.

Popularity of the Head

officeInfrastructure

Demographic reasons

Faculty Location Accessibility

Additional services

Student's perception

INCOMING

OUTGOING

WALK-INS

REFERENCES


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REFERENCES

1. http://www.edumentor.co.in/

2. http://ggsipu.nic.in/

3. http://www.cbse.nic.in/

4. www.imsindia.com

5. www.careerlauncher.com

6. http://www.prathamonline.com/

7. http://www.newparameter.com/

8. http://www.sachdevagroup.co.in/

9. http://www.time4education.com/

10. Primary data collected from students and parents.

11. Secondary Statistics received from other institutes during Market Intelligence

activities. The information booklets of the company and the competitors.

http://www.edumentor.co.in/

http://ggsipu.nic.in/

http://www.cbse.nic.in/

http://www.imsindia.com/

http://www.careerlauncher.com/

http://www.prathamonline.com/

http://www.newparameter.com/

http://www.sachdevagroup.co.in/

http://www.time4education.com/


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ANNEXURE I

Competitor Analysis

1. Which of the following institutes have you heard of?

o IMS

o T.I.M.E.

o Edumentor

o Career Launcher

o PT Education

o Pratham

o New Parameter

o SmartPREP

o Singh Study Circle

o Sharad Institute

2. If you chose to admit your child in a coaching Institute

o The institute has to be near to your residence

o The institute has to be in a clean and neat area

o The institute has to be approachable, location wise

o The institute can be anywhere; it doesn’t matter, as long as it is reputed

3. How much does the past result effect your decision?

o A lot, of course.

o Not at all. Past result has nothing to do with my child’s present.

o I am willing to take a risk even if it is a new institute.

o Only if somebody known to me has passed out from that institute.

4. What according to you should be the qualification of the faculty?

o Necessarily post-graduates

o Necessarily graduates

o Experienced and old

o A mixed combination

o Doesn’t matter, it is the child who

has to study, faculty can’t help

5. Would you take a look at the entrance course content before you chose the

Institute?

o Yes, obviously

o No, it is not something which I understand

o Yes, only to see the printing and binding quality

o I would rather buy it first, go through it and then admit my child


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6. Explain infrastructure in terms of a coaching institute.

o Well furnished chairs and tables, Air Conditioner, and a wooden/marbled

office/classroom

o Broken chairs and tables, a classroom, just enough to teach

o The basic requirements should be available, what else do we need?

o Anything is fine, as long as studies are on.

7. How many students are apt according to you in a batch?

o 15-20

o 20- 25

o 25-30

o 30-35

o 35-40

o 40+

8. Does it matter if an institute holds any specialization for teaching a particular

course? Example- FIITJEE for Engineering.

o Yes

o No

o Can’t say

9. Should personal attention be given to your child?

o Yes, he is a little shy

o No, he is capable enough

o Yes, personal mentoring sessions hold very important value

o No. Do not get involved with my child personally

10. If you to an institute for the first time, what would impress you the most?

o The colourful office-it should have ads and posters all around

o Right guidance

o Office Discipline

o Infrastructure

o Study package and course content

11. What according to you is the right amount that could be spent on coaching

classes?

o Rs. 3000-5000

o Rs. 5000-8000

o Rs. 8000-120000

o Rs. 12000-150000

o Rs. 15000+


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12. Do you believe that coaching is the only way to get the entrance exam for a

student cleared?

o Yes

o No

o Depends on the type of coaching

o Don’t know

13. Which batch according to you is the best to admit your child in?

o A batch which has all serious students

o A batch which is full of his friends

o A batch which is totally new to him

o Any type, it doesn’t matter

14. Would you like the Institute to:-

o Give me a call everyday so that I can keep a check on my child

o Give me a call weekly so that I can keep a check on my child

o Let me know all the information I need whenever I want, even if my child is not

yet admitted

o It doesn’t matter, now it is their responsibility, not ours.

15. Any institute should have-

o At least one branch in every zone of Delhi/NCR.

o More than 3 branches in every zone of Delhi/NCR.

o Should go beyond Delhi/NCR borders i.e. should be at the National Level.

o Doesn’t matter even if there is a single office.


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ANNEXURE II

Personality Development Program

1. Which of the following would you chose?

o To learn

o To earn

o To learn while you earn

o To earn while you learn

2. If you are stuck at any deserted island, alone, which will be the most essential

for you?

o Food

o Money

o Shelter

o Water

o Clothes

3. Which of the following would you go for?

o An extracurricular activity organized in your school which wins you a

certificate

o An activity organized outside school which wins you Rs. 100

4. You know that you are well prepared for your exam, but your 2 friends aren’t,

will you help them because

o They are my friends, and hence it’s my responsibility to help them

o They are my friends, but friends never stay forever, so I won’t help them

o I would help them irrespective of anything

o I won’t help them at all

o I will only help if they give me something in return

5. Motivation to you means

o Success

o Name

o Fame

o Money

o Growth


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6. You find a Rs. 500 note near a temple. You would

o Go to the temple and deposit it

o Go to the temple, pray and come back, without depositing it

o Pick it up and vanish away

o Leave it there

o Give it to a beggar

7. First earning to you means

o Dedicated to parents

o I will do everything I wanted to

o I will buy everything I wanted to

o Invest somewhere, example- Bank

o Bet and think of doubling it

8. You go to a shopping mall to buy story books. Your choice would depend on

o The cover page

o The price

o The author

o Friends review

9. Social Service to you means

o Giving away money

o Respecting the needy

o Buying them food and water

o Teaching them

o None of the above

10. You buy a chips packet of Rs. 20 and give the shopkeeper a Rs. 100 note, he by

mistake gives you back Rs. 90. What would you do?

o Give him Rs. 10 back and tell him about his mistake

o Keep the extra money with you without letting him know

o Tell him his mistake but refuse to pay back Rs. 10

o Tell him that he gave you less money, and instead ask for Rs. 10 more


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ANNEXURE III

Comparative study between Malviya Nagar and Head Office

1. Which centre according to you is better?

o Laxmi nagar (Head Office)

o Malviya Nagar.

o None.

2. Which centre is more popular according to you?


o Malviya Nagar.

o None.

3. Which centre according to you has better infrastructure?


o Malviya Nagar.

o None.

4. Which centre do you think has better faculty?


o Malviya Nagar.

o None.

o Both the centres have same faculty.

5. Would you be willing to travel far from your home to study at the Head

office although Malviya Nagar centre is closer to your home?

o Yes.

o No.

o May be.

o Can’t say.


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6. Would you be willing to travel far from your home to study at the Malviya

Nagar centre although Head office is closer to your home?

o Yes.

o No.

o May be.

o Can’t say.

7. Categorize Head office according to your liking?

o Awesome.

o Very good.

o Good.

o Ok.

8. Categorize Malviya Nagar according to your liking?

o Awesome.

o Very good.

o Good.

o Ok.

9. Which centre do you think has a better location?

o Laxmi nagar

o Malviya Nagar

o Both are well located.

o None.

10. Would it have made a difference to you if the Malviya Nagar centre were

called the head office and vice-versa?

o Yes, Explain________________________

o No, Explain_________________________

o Maybe.

o Can’t say.

Siddhanth Munjal Interim Report

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