market research project for irma placement

IRMA PRM 35

PLAC

EMEN

T OF

FICE IRMA

PRM 35

BY:

GROUP 8SECTION B

Allocation of Project

Qualitative Techniques

Quantitative Techniques

SegmentationPositioning

Utility determination

Suggestions to Placement Office

Objective: To give the submissions to IRMA Placements Office regarding the jobs valued and preferred by participants based on the detailed research conducted among PRM 35 participants

Sampling Plan:• Simple random sampling• 74 sampling size

K means Clustering

Factor Analysis

Conjoint analysis

RO

AD

MA

P

QU

ALI

TAT

IVE

AN

ALY

SIS

ENGINEER ARTSCOMMERCEAGRISCIENCE

Important Parameters

Qualitative Analysis of Interview Major factors/parameters for choosing a company during placements

Expectation from IRMA Placements• Organization pool to be increased with more emphasis on Government

organizations

Feedback/suggestions for IRMA Placement Office• Government organizations to be invited• Conduct resume-building workshops• Maintain Transparency & Neutrality in placements• Students should decide which company will come for placements and in what

order• IRMA placements must occur before other B-schools’ Placements

Job Profile Sector

Salary Career growth

Location Work flexibility

Brand Organizational values

Insights From Interview

Agribusiness15%

CSR22%

Microfinance15%

NGO11%

Livelihood11%

Dairy7%

Govt11%

Social enterprise4%

Others4%

Sectoral Preference

Tier 231%

District38%

Tier 119%

Tier 36%

Village/ Block6%

Location Preference

Market21%

Adhocracy21%

Clan43%

Hierarchy14%

Work-culture Preference

Sales9%

HR9%

Marketing23%

Microfinance27%

Supply Chain18%

Operations5%

Others9%

Specialization Preference< 6 Lakh

9%

6 - 8 Lakh55%

> 8 Lakh36%

Min-package Preference

7 - 9 Lakh86%

> 9 Lakh14%

Average-package Pref-erence

Undecided37%

Higher Studies27%

Career Growth27%

Civil Services9%

Future Goals

SEGMENTATIONQUA

NTI

TATI

VE A

NAL

YSIS

Basis Variables for Segmentation

Standard Deviation of Basis Variables

Std. Deviation

Diverse job profiles from organizations 1.51Branches/Offices 1.44Sponsoring higher education 1.33Entry position in the organization 0.93Compromise on your preferred designation 1.68

Higher preference to other factors in comparison to “preferred sector” 1.50

Join an organization where no IRMA alumni have worked in the past 1.41

Alumni feedback 1.11Pre-Placement Talks 0.97Perks and other benefits 0.85Bond or contract 1.59Job profile 1.04Designation 1.89Attrition rate in the organization 1.10Notice Period 1.56

Basis Variables (selected)

Diverse job profiles from

organizations

Designation

Bond/ Contract

Notice Period

Market trend impacting preferred sector

Descriptive Variables

Package

Location

Language

Work experience

Gender

Age

Educational Background

Verification of chosen basis variablesTotal Variance Explained

Component

Initial Eigenvalues Extraction Sums of Squared Loadings

Total% of

VarianceCumulative

% Total% of

VarianceCumulative

%1 1.611 20.134 20.134 1.611 20.134 20.1342 1.549 19.366 39.500 1.549 19.366 39.5003 1.272 15.899 55.400 1.272 15.899 55.4004 1.005 12.564 67.963 1.005 12.564 67.9635 .880 11.003 78.966 6 .742 9.272 88.238 7 .619 7.744 95.981 8 .321 4.019 100.000

We have taken only those basis variable. Whom standard deviation is greater than 1.40. Eight components are taken in Diverse job profile from organizations, designation, Bond/

contract, Notice period, Market trend impacting the choice of preferred sector, Branches, Higher preference to other factors in comparison to “preferred sector” and Join an organization where no IRMA alumni have worked in the past.

Initial five basis variables are explaining 78.966% of variance. So we taken only those basis variables for clustering.

So we did clustering on Diverse job profile from organizations, designation, Bond/ contract, Notice period and Market trend impacting the choice of preferred sector.

Number of ClustersOmega Values

Number of Clusters Pooled VRC Omega values

2 87.282 3 109.449 -56.574 75.049 46.925 87.574 -14.036 86.065 -4.037 80.527 16.828 91.805 -35.079 68.014

1 2 3 4 5 6

-80.00

-60.00

-40.00

-20.00

0.00

20.00

40.00

60.00

Omega Graph

Axis

Title

Number of clusters = 3

Scree Plot – Data

Cluster number 2 3 4 5 6 7 8 9

Inter cluster distance 2.94 3.70 3.78 3.86 4.25 4.31 4.52 4.71

Intra cluster distance 3.23 2.87 2.80 2.63 2.42 2.32 2.21 2.15

Ratio (Intra/Inter) 1.10 0.78 0.74 0.68 0.57 0.54 0.49 0.46

1 2 3 4 5 6 7 80

0.2

0.4

0.6

0.8

1

1.2

Scree Plot

Number of clusters = 3

Cluster Membership

1 2 3Cluster

0.0005.000

10.00015.00020.00025.00030.00035.000

Number of Cases in each Cluster

Total number of respondent is 74. Cluster number 1 has maximum number of members 29. Cluster number 2 has 23 members. Cluster number 3 has 22 members.

Inter-Cluster Comparison C 1 C 2 C 3

Package8 to 10 Lakh average

packagehighest # (14/29)

highest # (12/23)

highest # (9/22)

Preferred functional area

1st mkt (10/29) mkt (7/23) mkt (7/22)

least preferred Sales, Op, IT – 1 IT, Sales – 0 Sales – 0

Work experience

# of fresher highest # (15/29)highest # (12/23)

highest # (8/22)

1 to 2 years 4/29 min (3/23) max (5/22)

2 to 3 years max (7/29) min (3/23) 5/22

Home statenot preferring home state

as work locationmin (11/29) max (15/22)

Tier City you like to work

Preferring Tier 2 city highest # (18/29)highest # (12/23)

highest # (14/22)

Individual Cluster Profiling

Cluster 1 Features Package 6 to 8 lakh 8 to10 lakh > 10 Lakh

Functional Area Marketing 2 6 2

Work Ex Fresher 3 9 3

Job Location Tier2 7 8 3

Job Location

Tier1 Tier2 Tier3


Home Town Job Yes 6 12 0

Alien to Local Language Yes 3 10 0

Functional Area

Marketing Finance HR General Management

Tier2 6 1 3 5

Fresher 5 4 2 3

Cluster 2 Features Package 6 to 8 lakh 8 to10 lakh >10 Lakh

Functional Area Marketing 1 3 3

Work Ex Fresher 3 6 3Job Location Tier2 3 8 1

Job Location Tier1 Tier2 Tier3


Home Town Job No 6 8 0

Alien to Local

LanguageYes 9 9 0

Functional Area

Marketing Finance General Management


Job Loc Tier2 5 1 3

Cluster 3 Features Package

6 to 8 lakh 8 to10 lakh > 10 LakhFunctional

Area Marketing 1 3 3Work Ex Fresher 1 3 4

Job Location Tier2 4 8 2

Job Location Tier1 Tier2 Tier3


Home Town Job No 6 9 0Alien to

Local Language

Yes 3 4 0

Functional area

Marketing Finance OperationsGeneral Manage

ment

Count Count Count CountFresher 4 2 1 1

Tier2 2 2 5 4

Selected Conjoint Attributes For Partitioning

Package Sector Functional Area Job LocationAttribute

0.0005.000

10.00015.00020.00025.00030.00035.00040.00045.000

Importance Value

We got these importance value of attribute through conjoint analysis. We choose package and sector as basis variable for partitioning of data. This will help us to verify number of segments in our data.

Partitioning based on Conjoint Attribute

Cluster No. Pooled VRC Omega

2 244.786

3 396.471 -416.899

4 131.257 325.930

5 191.973 -49.993

6 202.696 -50.634

7 162.786 78.400

8 201.275 10.147

9 249.912

1 2 3 4 5 6 7

-500

-400

-300

-200

-100

0

100

200

300

400

Basis Variable

Package

Preferred Functional Area

POSITIONING

ITC

RGAVP

AKRSP

YES BANK

SBI

DHARMA LIFE

ESCORTS

GCMMF

PWC

S. No.

Sector Organizations

1Co-Operatives & Associated Organizations

GCMMF

2Government Development Agencies

RGAVP

3Non- Government Development Organization

AKRSP

4 Agri-finance & Microfinance Yes Bank, SBI

5 Social Enterprise Dharma Life

6 Technology & Consultancy PWC

7Agribusiness & Rural Marketing & CSR

Escorts

ITC

Attributes

Brand Reputation

Job Profile

Package

Career Growth

Job Stability

Job Satisfaction

Selection Procedure

Work Location

Work Culture

Selected Organizations & Attributes

Cluster 1:- Total Variance ExplainedTotal Variance Explained

Component

Initial EigenvaluesExtraction Sums of Squared

LoadingsRotation Sums of Squared

Loadings

Total% of

VarianceCumulativ

e % Total% of

VarianceCumulativ

e % Total% of

VarianceCumulativ

e %1 4.445 55.568 55.568 4.445 55.568 55.568 2.835 35.435 35.4352 .942 11.774 67.342 .942 11.774 67.342 2.553 31.907 67.3423 .713 8.912 76.253 4 .619 7.741 83.995 5 .548 6.846 90.841 6 .310 3.878 94.719 7 .221 2.766 97.485 8 .201 2.515 100.000

As 2 factors are explaining 67.342% of variance. So we taken only two components for making of perceptual map.

Rotated Component Matrix

Rotated Component Matrixa

Component

1 2Brand Reputation

.121 .894

Job Profile .362 .732

Package .378 .701Job Stability .364 .621

Job Satisfaction .757 .388

Selection Procedure

.681 .254

Work Location .809 .243

Work Culture .850 .257

Brand reputation, Job profile, Package and Job stability are forming one component of perceptual map.

Job satisfaction, Selection procedure, Work location and Work culture are forming second component of matrix.

Good Brand Reputation

Good Work Culture

Sector Company Brand Reputation Work Culture

Agribusiness & Rural Marketing & CSR ITC High Mild

Agri-finance & Microfinance Yes Bank High Mild

Non- Government Development Organization AKRSP Low Mild

PERCEPT

UA

L MA

P

Cluster 2:- Total Variance ExplainedTotal Variance Explained

Component



Loadings

Total% of

VarianceCumulativ

e % Total% of

VarianceCumulativ

e % Total% of

VarianceCumulativ

e %1 3.018 60.358 60.358 3.018 60.358 60.358 2.176 43.528 43.528

2 .826 16.528 76.886 .826 16.528 76.886 1.668 33.359 76.886

3 .517 10.331 87.218

4 .433 8.663 95.881

5 .206 4.119 100.000


Rotated Component Matrix

Rotated Component Matrixa

Component

1 2Brand reputation .918 .126

Job Profile .873 .311

Job Stability .207 .833


Work Culture .684 .447

Brand reputation, Job profile, and work culture are forming one component of perceptual map.

Job satisfaction and job stability are forming second component of matrix

High Job Satisfaction

High Brand Reputation

Sector Company Brand Reputation Job Satisfaction

Agribusiness & Rural Marketing & CSR ITC High Mild

Agri-finance & Microfinance Yes Bank High Low

Non- Government Development Organization AKRSP Low Mild

PERCEPT

UA

L MA

P

Cluster 3:- Total Variance Explained

Total Variance Explained

Component



Loadings

Total% of

VarianceCumulati

ve % Total% of

VarianceCumulati

ve % Total% of

VarianceCumulati

ve %1 3.625 51.779 51.779 3.625 51.779 51.779 2.571 36.726 36.726

2 .892 12.742 64.521 .892 12.742 64.521 1.946 27.795 64.521

3 .723 10.327 74.848

4 .638 9.118 83.966


Rotated Component MatrixRotated Component Matrixa

Component

1 2Brand reputation .894 -.031

Job Profile .605 .391Job Stability .654 .305


Selection Procedure

.073 .886

Work Location .567 .485Work Culture .669 .374

Brand reputation, Job profile, job stability, work location and work culture are forming one component of perceptual map.

Job satisfaction and selection procedure are forming second component of matrix

Brand Reputation

Transparent Selection Procedure

Sector Company Brand Reputation Selection Procedure

Agribusiness & Rural Marketing & CSR ITC High Less Transparent

Agri-finance & Microfinance Yes Bank High Moderately Transparent

Non- Government Development Organization AKRSP Low Transparent

PERCEPT

UA

L MA

P

CONJOINT ANALYSIS

Attribute Levels

PackageLess than 7 Lakhs

7 to 10 lakhs

More than 10 lakhs

Sector

Agribusiness & Rural Marketing

Development

Microfinance

Others

Functional Area

Finance

Marketing

Other

Job LocationHome State

Other

Total 4 attributes were taken. Total number of levels are 12.

Total number of possible card: 3*4*3*2=72

Used orthogonal design to generate cards.

16 experimental card, 2 hold out cards were generated.

Conjoint Design

Generated Cards

Card ID Package Sector Functional Area Job Location Rate

1 More than 10 lakh Agribusiness & Rural Marketing Finance Home State

2 Less Than 7 Lakh Development Finance Home State

3 More than 10 lakh Microfinance Other Other

4 Less Than 7 Lakh Microfinance Finance Home State

5 7 to 10 Lakh Others Finance Other

6 7 to 10 Lakh Agribusiness & Rural Marketing Finance Other

7 Less Than 7 Lakh Development Finance Other

8 Less Than 7 Lakh Microfinance Finance Other

9 More than 10 lakh Others Finance Home State

10 7 to 10 Lakh Development Other Home State

11 Less Than 7 Lakh Agribusiness & Rural Marketing Marketing Home State

12 7 to 10 Lakh Microfinance Marketing Home State

13 Less Than 7 Lakh Others Other Home State

14 Less Than 7 Lakh Others Marketing Other

15 More than 10 lakh Development Marketing Other

16 Less Than 7 Lakh Agribusiness & Rural Marketing Other Other

17 7 to 10 Lakh Microfinance Finance Other

18 Less Than 7 Lakh Development Other Other

Utility Score for Cluster 1

Utilities

Utility Estimate

Package

Less Than 7 Lakh -0.857 to 10 Lakh 0.152

More than 10 lakh 0.695

Sector

Microfinance -0.14

Agribusiness & Rural Marketing 0.235Development 0.183

Others -0.28

Functional Area

Finance -0.15Marketing 0.241

Other -0.1Job Location

Home State 0.17

Other -0.17(Constant) 4.695

More than 10 lakhs is most preferred level in package. Agribusiness is most preferred sector. Marketing is most preferred functional area. Home state is preferred job location.

Utility Analysis for Cluster 1

Package Sector Functional Area

Job Location0.000

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

35.328

25.125

29.672

9.875

Average Importance of Cluster 1

Attribute Levels Max Utility Score Levels Min Utility Score

Package > 10 lakhs 0.695 <7 Lakhs -0.85

Sector Agribusiness and RM 0.235 Other -0.28

Functional Area Marketing 0.241 Finance -0.15

Job Location Home State 0.170 Other -0.17

Constant 4.695 4.3695

Total Utility 6.036 2.9195

7 to 10 Lakh p.a. 0.152

Agri-business & Rural marketing

0.235

Marketing 0.241

Home state 0.17

Constant 4.695

Total utility 5.493

Simulation Cases

Correlation

Correlations

Value Sig.Pearson's R .970 .000

Kendall's tau .906 .000

Kendall's tau for Holdouts 1.000

As we can see here high correlation is observed between estimated and observed preferences.

Utility Score for Cluster 2

More than 10 lakhs is most preferred level in package. Agribusiness is most preferred sector. Finance is most preferred functional area. Home state is preferred job location.

Utilities

Utility EstimatePackage Less Than 7 Lakh -.891

7 to 10 Lakh .043More than 10 lakh .848

Sector Microfinance -.103Agribusiness & Rural Marketing .201

Development -.049Others -.049

Functional Area Finance .014Marketing .009

Other -.024Job Location Home State .027

Other -.027(Constant) 4.572


Package Sector Functional Area

Location0.000

10.000

20.000

30.000

40.000

50.000

60.000

50.000

13.043

26.087

10.870

Average Importance for Cluster 2

Attribute Levels Max Utility Score Level Min Utility Score

Package >10 lakhs 0.848 <7 Lakhs -0.891

Sector Agribusiness and RM 0.201 Others or Development

-0.049

Functional Area Finance 0.14 Other -0.24

Job Location Home State 0.27 Other -0.27

Constant 4.572 4.572

Total Utility 6.031 3.672

7 to 10 Lakh p.a. 0.043

Development -0.049

Marketing 0.009

Other -0.027

Constant 4.572

Total Utility 4.548

Simulation Cases

Correlation

Correlations Value Sig.

Pearson's R .978 .000Kendall's tau .814 .000

Kendall's tau for Holdouts 1.000


Utility Score for Cluster 3 More than 10 lakhs is most preferred level in package.

Agribusiness is most preferred sector. Marketing is most preferred functional area. Home state is preferred job location.

Utilities Utility Estimate

Package Less Than 7 Lakh -.8907 to 10 Lakh .184

More than 10 lakh .706Sector Microfinance -.219

Agribusiness & Rural Marketing .361Development .111

Others -.253Functional Area Finance -.299

Marketing .422Other -.123

Job Location Home State .071Other -.071

(Constant) 4.516


Package Sector Functional area

Location0.000

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

45.000

39.019

27.18024.001

9.800

Average Importance for Cluster 3

Attribute Levels Max Utility Score Levels Min Utility ScorePackage >10 lakhs 0.706 <7Lakhs -0.89

Sector Agribusiness and RM

0.361 Other -0.253

Functional Area

Marketing 0.422 Finance -0.299

Job Location Home State 0.071 Other -0.071Constant 4.516 4.516

Highest Utility 6.121 3.003

7 to 10 Lakh p.a. 0.184

Microfinance -0.219

Marketing 0.422

Other -0.071

Constant 4.516

Total Utility 4.832

Simulation Cases

Correlation

CorrelationsValue Sig.

Pearson's R 0.988 0Kendall's tau 0.862 0

Kendall's tau for Holdouts 1 .


Package Sector Functional are Job location

35.328

25.125

29.672

9.875

40.971

26.126

23.759

9.144

39.019

27.180

24.001

9.800

Importance Values Cluster 1 Cluster 2 Cluster 3

Inter-Cluster Comparison

Suggestions to Placements OfficeOur Findings:

• Most preferred sector across all 3 clusters: Agri-business companies

• Most preferred functional area across all 3 clusters: Marketing, Finance and General

Management

• Most preferred work location across all 3 clusters: Tier 2

• Package preference across all 3 sectors range from Rs.8 L to Rs.10 L

THANK YOU