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 Company Guide : : Prof. Harshvardhan Kothari Mr. Vikas Jain

Submitted by:Name Enrolment Number : : Siddhanth Munjal 12BSP1213

EDUMENTOR EDUCATIONAL SERVICES, NEW DELHI

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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

SUMMER INTERNSHIP PROGRAM AUTHORIZATION

2013

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 students 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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SUMMER INTERNSHIP PROGRAM TABLE OF CONTENTS

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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 doesnt 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. ii. iii. iv. v. vi. Delhi University (Entrance test for BBS) Notification April. Symbiosis Deemed University, BBA , Notification March Jamia Hamdard, (Entrance test for BBS/BIBF) Notification- March Guru Gobind Singh Indraprastha University (IP) (Entrance test for BBA) Notification- March. Narsee Monjee institute of Management Studies, BBA (Own campus in Bombay) 240 seats out of which 15 % for management Quota. Christ , Bangalore, BBA 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
Basic reference material Classroom Training
Class Assessment Tests Comprehensive Tests Simulated Tests Competitive Test Ranking GD & PI Training

CLASSROOM
Yes Yes Yes Yes Yes Yes Yes

DISTANCE LEARNING
Yes No No Yes Yes 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 Competitors 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:-

Market Share
8% 9% 5% 5% 15% 30% 7% 21% Edumentor T.I.M.E IMS Career Launcher PT Education Smart Prep Pratham New Parameter

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COMPARITIVE ANALYSIS

NAME
IMS

PROGRAM
MAX-PREP

COURSES OFFERED
CAT,BBA,LAW, HOTEL MANAGEMENT, BCA etc. BBA/BBS, MASSCOMM, HM, LAW, B.EL.ED, CATE, CA-CPT CAT,LAW,BBA,H.M.

SCALE OF OPERATION
NATIONAL

EDUMENTOR

Not Applicable

DELHI -NCR

T.I.M.E.

Career Launcher PT Education Smart Prep New Parameter Pratham

Crash Course For BBA entrance BBA Express Career After XII Not Applicable Not Applicable Not Applicable

NATIONAL

BBA, CAT, LAW, HM, etc.., CAT, BBA, LAW, HM BBA, HM, LAW etc. BBA, BCA, HM, LAW BBS,BBA,HM,LAW, CATE,MASSCOMM, etc.

NATIONAL NATIONAL DELHI DELHI 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:-

Focus- Specialist educational institute team, Best faculty and big names from the industry

Alumni of CBSCreative and motivated team

Presence pan-delhi , Strong Research and devlopment team

WEAKNESSES:-

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:-

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.

THREATS:-

High competion

New region specefic entrants, Examplesingh 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 1Understanding the Organizations objective and working on similar lines, in an efficient manner, for business development as well as Centre Management.

Step 2Analyze the market segment on the basis of:-

Income Levels

Age & Gender

school type

Family education level Step 3-

Social background

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.

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Popularity of the Head office

Infrastructure

Demographic reasons

Faculty

Location

Accessibility

Additional services
Step 4Analysis of the Competitors Product

Student's perception

Step 5Implementing Ideas

Step 6As 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.

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.

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ANNEXURE I

Competitor Analysis
1. Which of the following institutes have you heard of? o o o o o IMS T.I.M.E. Edumentor Career Launcher PT Education o o o o o Pratham New Parameter SmartPREP Singh Study Circle Sharad Institute

2. If you chose to admit your child in a coaching Institute o o o o The institute has to be near to your residence The institute has to be in a clean and neat area The institute has to be approachable, location wise The institute can be anywhere; it doesnt matter, as long as it is reputed

3. How much does the past result effect your decision? o o o o A lot, of course. Not at all. Past result has nothing to do with my childs present. I am willing to take a risk even if it is a new institute. 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 Doesnt matter, it is the child who has to study, faculty cant help

5. Would you take a look at the entrance course content before you chose the Institute? o o o o Yes, obviously No, it is not something which I understand Yes, only to see the printing and binding quality 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 Cant say 9. Should personal attention be given to your child? o o o o Yes, he is a little shy No, he is capable enough Yes, personal mentoring sessions hold very important value 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 o o o o The colourful office-it should have ads and posters all around Right guidance Office Discipline Infrastructure 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 Dont know

13. Which batch according to you is the best to admit your child in? o o o o A batch which has all serious students A batch which is full of his friends A batch which is totally new to him Any type, it doesnt 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 doesnt matter, now it is their responsibility, not ours. 15. Any institute should haveo o o o At least one branch in every zone of Delhi/NCR. More than 3 branches in every zone of Delhi/NCR. Should go beyond Delhi/NCR borders i.e. should be at the National Level. Doesnt 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 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 arent, will you help them because o o o o o They are my friends, and hence its my responsibility to help them They are my friends, but friends never stay forever, so I wont help them I would help them irrespective of anything I wont help them at all I will only help if they give me something in return o Water o Clothes

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 o o o o Go to the temple and deposit it Go to the temple, pray and come back, without depositing it Pick it up and vanish away Leave it there Give it to a beggar

7. First earning to you means o o o o o Dedicated to parents I will do everything I wanted to I will buy everything I wanted to Invest somewhere, example- Bank 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 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 o The author o Friends review

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 o o o Give him Rs. 10 back and tell him about his mistake Keep the extra money with you without letting him know Tell him his mistake but refuse to pay back Rs. 10 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 Laxmi nagar (Head Office) o Malviya Nagar. o None. 3. Which centre according to you has better infrastructure? o Laxmi nagar (Head Office) o Malviya Nagar. o None. 4. Which centre do you think has better faculty? o o o o Laxmi nagar (Head Office) Malviya Nagar. None. 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 o o o Yes. No. May be. Cant 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 o o o Yes. No. May be. Cant say.

7. Categorize Head office according to your liking? o o o o Awesome. Very good. Good. Ok.

8. Categorize Malviya Nagar according to your liking? o o o o Awesome. Very good. Good. Ok.

9. Which centre do you think has a better location? o o o o Laxmi nagar Malviya Nagar Both are well located. None.

10. Would it have made a difference to you if the Malviya Nagar centre were called the head office and vice-versa? o o o o Yes, Explain________________________ No, Explain_________________________ Maybe. Cant say.

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