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NEW ACHIEVERSCOACHING INSTITUTE
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Already established players in engineering entrance coaching industry based in Mumbai
Divide that exists between tier-2 cities and metro cities: Teachers and other facilities
Gap as an opportunity
Service of virtual coaching centre in five tier-2 cities
'Very Small Aperture Terminal (VSAT)' technology
Real time interaction between teachers and students
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• The size of the coaching industry is Rs 10,000 crore.
• 50% of the students who appear in the entrance test, enroll with the coaching institutes.
• 6 lakh students attend these classes every year.
• Average cost for each student is around Rs 1.5 lakh.
• The number of applicants have been raising at a steady pace of 15-20% every year.
• IIT-JEE and AIEEE market size at present is around Rs. 2,500 crores.
Micro-Analysis:Current situation market analysis
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SWOT ANALYSIS
Strengths• Established Institute• Good Faculty• Comprehensive study
material• Low Fees
Weakness• New Technology• Traditional conception
Opportunity• Increased propensity of parents’ to spend on children’s education• Rising aspirants for Engineering degree• Strict implementation of RTE norm
Threats• Increased competition• Threat of similar service by
already established players
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MACRO ANALYSIS: PEST
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Political Factors• Impact of RTE act• FDI of up to 100 per cent in
Education• PPP model for higher studies
in India• Government stability• Multiple level structures • Excise duty
Economical factors• Energy costs• Limited numbers of seats• Increasing expenditure • Price of education• India spends at 3.7% of GDP• PPPs do not offer returns or
autonomy• Not-for-profit structure• Ensures a productive future
Socio-cultural factors• Population(18-21ys) • Tier 2, 3 cities• Consumerism• Attitudes• Lifestyles• Reservations
Technological factors• New technology• Computer literacy• Usage of technology
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Factor Impact Factor Opportunities/ThreatsPolitical 100% FDI in education,
PPP model for higher studies in India
Opportunities- low(+2)
Economical Energy costs,Limited numbers of seats,Price of education
Threats- low(-2)
Socio-cultural
Population,Attitudes,Tier 2, 3 cities,Lifestyles
Opportunities-moderate(+3)
Technological
New technology,computer,Usage of technology
Opportunities-very high(+4)
Hence, we can conclude that the external environment for our model is healthy on the basis of ¾ factors.
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PORTER’S FIVE FORCES IMPACT OF THE FACTOR POTENTIAL OPPORTUNITY OR THREAT
Intensity of competition
Intense rivalry in industry/market place
Threat (-3)
Bargaining power of Buyers
High Aspirations of students to get into Good institute
Opportunity(+4.5)
Bargaining power of supplier
New technology, Few suppliers dominate industry
Threat (-2)
Threat to entrants Industry barriers to entry are low Threat(-2)
Threat of substitute product
Substitute Services are not available
Opportunity(+3)
Conclusion- This shows the overall opportunity overpowers the threats and as such this industry is attractive at this time
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Mode Of Coaching Major Players How Do They Provide
Integrated classroom programs
FIITJEE, Aakash, Career Point, and JK Shah.
Traditional class room programmes
Technology aided – virtual class
Everonn, Career Point , Educomp, Gupta tutorial
Using VSAT Technology and Audio-Video interfaces
Portal-based learning FIITJEE, Career Point, Brilliant,Bansal and Resonance
Providing access to websites and the resources
Distance learning Edserv, Educomp and Info Edge
Postal coaching
COMPETITORS
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Competitor AnalysisCoaching Price They Charge Strong Points
Aakash 76405 for first year25 yr of exp. In medical. Although relatively, new in JEE but huge brand name.
Bansal 51000 for first yearWell established name in Kota, already using VSAT in Nasik.
Resonance 54933 for first year Well established name in Kota.
IITians pace 114000 for first year Strong presence in Maharashtra.
EverOnn ---Largest player in technology aided- virtual classes coaching.
Educomp ---In technology aided- virtual classes coaching as well as in portal based services.
Brilliant Tutorials 60382 for first year Chennai based IIT-JEE coaching giant.
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To increase the number of students by 25 % at the end of third year and 40% by the end of fourth year
To expand to other tier-2 cities like Jabalpur, Aurangabad etc.
To increase profit by 20 % at the end of third year.
To continuously upgrade the services offered so as to compensate for the real life classroom experience
To widen our scope so as to include other competitive exams
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ACTION PLAN
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SEGMENTATION• Geographic:
Moving to 2 tier cities
• Demographic: Gender: Males & females Age group: 16-21 years
• Psychographic: Middle class & upper middle class
TARGETING• Students
• Age group 16 – 21 yrs
• Socio economic condition Middle and High income
• Geographic location tier 2 cities
• Parents
POSITIONING• Credibility• Visibility• Value for money• Hi-tech
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REGULAR COURSE• 1 Year :• 2 Year
CRASH COURSE• 2 Month
TEST & DISCUSSION COURSE• Test series
ACTIVITY PLANNING
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activity plan.xls
ACTIVITY PLAN
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financial_analysis.xls
FINANCIAL ANALYSIS
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In the 1st year the institute incurs a loss of Rs 10,00,000.
However in the 2nd year it earns profits amounting to Rs 18,10,000.
In this case it is difficult to calculate when the company would reach its break-even point as payments are made at different times of the year involving different courses.
However looking at the profit figure we could say that it could be somewhere around the first half of the second year.
PROFITABILITY
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KRAs, CONTROL & REVIEWThere are two most important key result areas: 1. Enrollment 2. Awareness
For this one should keep in mind that there are two periods when enrollment is generally high and that is April-July for the regular course and Feb-March for the crash course.
For both of these, awareness and a positive response from neighbours and peers along with brilliant results in the past would help in meeting enrollment standards.
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For awareness top of the mind awareness surveys could be carried out four times a year where the people surveyed would be asked to name the top three coaching institutes in their city.
Past results should be highlighted in newspapers,on the internet and through brochures, especially during the peak season.
For this emphasis should also be laid on the success achieved by the parent institute as it is already an established player.
Moreover reviews on enrollment should be carried out every two months and could be compared to the parent institute for reference.
The team could consist of members from all the institutes so as to gain an objective view point.
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REFERENCES1. Wikipedia
2. www.fiitjee.com
3. www.cashiksha.com
4. www.pearsoneducationservices.com/eone.php
5.www.hughesnetbroadband.in
6.www.news.oneindia.in
7.www.iitjee.iodleducation.org
8. www.bansaliitjee.com/slp.html
9.www.careers360.com
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THANK YOU