Brand evaluation for financial investement and customer satisfaction measurement

ACKNOWLEDGEMENT

We have taken this opportunity to express our sincere gratitude towards the pillars of successful completion of our Summer Internship Projects at Spear Business Academy, Mumbai without whose unflinching assistance & co-operation at all times it would rather have been impossible for us to achieve the desired goal.
Technologically advancement will enable us to get the environment we desire. In this era of modernization & sophistication our endeavour to achieve complete and perfect knowledge in the field we choose will be successful only with the help of guidance, direction, stimulation & encouragement by our esteemed professors. We the students of MBA-Marketing, IBSAR are proud to reiterate that our best professors have always emphasized on the importance of self-culture and stimulate us to gain possible knowledge by exercise of our own facilities. They have tried to make their students ‘active partners’ in the work of education, but not passive receivers of information. The great mantra of success according to our respected director Dr.. M.L.Monga is “Know your passion quotient first, get hold of it and work with complete dedication to achieve your goal.”
We express our sincere thanks to our respected director Dr.. M.L.Monga , deputy director Prof. Mrs. Manju Aggarwal, Prof. Mr. Kumar for availing us this great opportunity to learn vital element of this corporate world through summer internship. We also express our sincere gratitude toward all other faculties and staff of IBSAR who always helped us to know and learn various aspects of Marketing management at various stages of our curriculum.



ABSTRACT

“Do you want to send your kid to a playschool run by a foreign company in your neighbourhood?” perhaps, you may be able to do so. That is, if a proposal by the Union commerce ministry to allow foreign direct investment in education in India is approved by the Manmohan Singh Cabinet.
Already a number of foreign universities and companies that operate in the education sector have shown keen interest to enter India. One of the first proposals has come from Denmark-based Egmont Imaginations that has submitted a proposal to the Indian government to set up 200 playschools in India.
Also American major universities like Yale, Stanford and Georgia Institute of Technology have announced that they are keen to set up Greenfield campuses in India as and when the country liberalises education.
After allowing FDI in key sectors such as telecom, insurance, food processing and even retail, the Manmohan Singh government is toying with the idea of permitting foreign investment in elementary and higher education. FDI in education will help Indian students to study in an environment of world class labs and libraries. It will also help Indian students tremendously in getting jobs in multinational companies.
INDIA is the third largest higher education system in the world (after China and the USA) in terms of enrolment which in 2005-06 was over one crore five lakhs. In terms of the number of institutions, India is the largest higher education system in the world with

17,973 institutions (348 universities and 17,625 colleges), of these, there are 63 unaided deemed universities with enrolment of 60,000 students, and 7650 unaided private colleges with enrolment of 31, 50,000 students.

The figures mentioned above are very much self explanatory for industry size of education in India. In our summer internship project we have handled project under BIRD division of SBA of evaluation of brand of a SBA which has its branches in many parts of our country for improvement.

As already mentioned that govt has made foreign investments allowed into our education system. It is going to be great revolutionary step towards globalisation of Indian education, as this will help many of upcoming and struggling educational organisations to cope up with their infrastructure and other needs.

Also from investor’s viewpoint investment in such big industry i.e. Indian education system is going to be huge return on investment.

We at BIRD have evaluated brand SBA through all aspect like brand reputation, brand perception, students satisfaction & expectation, infrastructure, faculty, etc.


In this project report we have mentioned our overall code of conduct for this project, method of sampling, questionnaire design, way of interviewing, data collection and analysis overall conclusion over brand SBA, so that our client at SBA would feel easier to decide over his in which area improvement is needed.
Brand Evaluation for Improvement

We got this project of evaluating the brand SBA as our SBA wants to improvement in Business.

1. We have to measure brand perception of SBA.
2. To analyse collected data and comment over decision of investment.
3. Find out well maintained and areas need to be improvised.

Ø Executive summery:

Objectives:
After allowing FDI in key sectors such as telecom, insurance, food processing and even retail, the Manmohan Singh government is toying with the idea of permitting foreign investment in elementary and higher education. FDI in education will help Indian students to study in an environment of world class labs and libraries. It will also help Indian students tremendously in getting jobs in multinational companies.
Also from investor’s viewpoint investment in such big industry i.e. Indian education system is going to be huge return on investment. From the same prospective our client at IMRB had expressed his intention to invest in Spear Business Academy (SBA) in India with multistate presence in front of us.



Methodology:

Hence we have evaluated SBA as a Educational Institute and as a brand. First we had gone through questionnaire which we supposed to ask to targeted respondents. Then we had discussion over pros and cons of each segment of questionnaire so that no one should face problem while dealing with odd or unexpected response from respondent. We divided the target respondents by quota sampling technique.

We gathered required data and scrutinised it well for its correctness and validity. Then we analysed the particular segments of questionnaire which were probing more towards in where improvement required in SBA institute.

To add on to the client’s requirements we have also highlighted the areas where improvement is required in SBA and the vital areas which require more flow of financial resources towards them.

Findings:

Analysing the collected data is very essential for arriving at any conclusion. During the process of analysis we found out that many students do get influenced by brand and reputation of SBA, they consider this factor a lot while deciding the college for the admission.

Other important factors which student consider before taking admission are; course fees, placement records, academic specialisation available and industry interface or exposure provided to students.

We have also found out that SBA has introduced sudden hike in the course fees and with which students are not comfortable, since as mentioned earlier course fees is one of the main factors considered by students while taking admission.

In this project we have also mentioned the areas where improvement is required in SBA according to its students.

Conclusion:

As mentioned earlier Indian government has allowed FDI in our education system, there is lot of market and opportunity available for outsider big investors and domestic investors.

As brand we would say SBA is a well known brand with good reputation in students and industry. As far as investment in SBA is concerned we have analysed that most of factors and variables are supporting the investment decision but as new issue of fees hike has aroused unexpectedly we would suggest the waiting period of 12 to 18 months. This is to certify that as does this fee hike is hampering admissions at SBA or not, and also to see what effects are generated on placement.

We have suggested that substantial part of this investment must flow into improvement of infrastructure and facilities at SBA.




Ø Chapter 1 : Company Profile


1.1] Company profile:
SPEAR BUSINESS ACADEMY (SBA) is division of SPEAR TECH SOLUTIONS, a leading name in Software Testing Training with centers in Mumbai, Navi Mumbai, Gujarat & South India. SBA is India’s First Job Skills Training Institute dedicated to empower employable skills amongst fresh graduates and working executives. International Business Training Association (IBTA), Florida (USA) offers Certified Business Professional (CBP) certification and is the fastest growing job-skills certification for the business professionals with partners in the US, Canada, China, Asia, Middle East, Australia, Latin America and the Caribbean. IBTA has an exclusive tie up with SPEAR BUSINESS ACADEMY (SBA) in India for launching CBP training and certification in India. SBA has entered into a strategic alliance with Florida (USA) based certification company “The International Business Training Association" (IBTA) to launch its certification program and training services in India. Spear also closely works with ABP-Association of Business Professionals, which is an initiative undertaken for Professionals to interact with industry experts. Also special prices are offered to ABP members for various courses at Spear. Spear Business Academy has been planned with long term vision and goals which are necessary for a steady growth throughout. We plan to add to our affiliations with national & international universities, Government bodies & private organizations. We have identified strategic locations within your city & outside, Pan India, for creating a strong network of SBA centers & carefully selected Business Partners.

Spaer Tech Solutions
Spear Tech Solutions is a bridge between industry and academia and aims to fill the gap that exists between traditional college education and industry requirements. Spear, a premier Testing & QA solutions company with corporate office in Mumbai and training centers in Goregaon,Thane,Nerul,Dadar & Fort. Spear Tech Solutions is now planning a national roll out in major cities in India like Bangalore, Pune, Delhi and Chennai. Spear Tech Solutions is the pioneers & currently the only company to offer training for CSTE-CSQA international certification exams in Mumbai & Bangalore.
Spear's association with corporates has been since inception and till date Spear has trained quite a few top IT companies staff on testing modules and certification courses. Placements for students are also quite strong because of this association and most of Spear students are placed with companies much before the course is over.Spear's team has conducted quite a few technology related workshops and seminar which has helped the students in getting into Top IT companies
For small, medium and large organizations, Spear Tech Solutions has become a single source for all their IT training. Our customized Corporate Training services allow Training Managers the ability to easily administer their learning programs and track the progress of all participating employees.
Maximizing the investment in training is important for all companies, and Spear Tech Solutions assists each client with the management and measurement of their training activities. The variety of learning options from Spear Tech Solutions allows students to learn in the manner that best suits their schedule, budget, learning style and expertise.Our Corporate Training Services helps your organization build the right skill levels amongst your workforce to support your various IT projects. Spear specialises in Software Testing modules, Certification modules like CSTE-CSQA, PMP etc & Automation Tools training.Our training programs have been very well received by the participating organizations. We put a lot of emphasis on delivering top-quality training programs that are tailored to suit the requirements of the client organization, level of the participants and their prior familiarity with the subject, etc.

Software Testing Training

Spear Tech Solutions provides comprehensive and cost-effective training for individuals looking to expand their IT skills in their current professions or looking to take the first step toward new careers. With courses available online and in traditional classroom settings, Spear Tech Solutions has a flexible educational solution that fits your learning style and your schedule.

Candidate placements –
Freshers, Jr. & Sr. IT professionals. We specialize in Software Testing related profiles. We also have a good databank of CSTE, CSQA Certified professionals.Outsourcing – (Testing professionals – freshers & experienced).
Our students are currently working for top IT companies like.
Accenture
Aztecsoft
BenQ
Eserve(Citigroup Global)
Godrej Infotech
Iflex Solutions
MAQ Software
Mauj.com
Mastek
Polaris
Quality Kiosk
Saba Software
Sarla Software (iemployee)
Tech Mahindra
Indiagames.com
Infosys
Persistent
NSE-IT
Datamatics
Merryl Lynch

International Business Training Association
Established in 2001 and headquartered in Florida, USA, the International Business Training Association (IBTA) offers the world's fastest growing business soft-skills certification for business professionals. IBTA was created to meet the human demands of the global economy.The effects of globalization have increased demands for international standards throughout the world. Globalization has created opportunities and concerns for many nations, businesses and individuals as today's consumer is now a global consumer that expects and demands global standards.The International Business Training Association, IBTA was created to meet this demand by providing international standards in the area of certification for business professionals. This allows companies to hire individuals who have been trained to a global standard and allows individuals to achieve certification as a measure of proficiency. IBTA through its certification process develops global business professionals who can meet the demands of the global consumer. IBTA officially released its business certifications in 2003 under the brand of the Certified Business Professional (CBP), after 2 years of initial consultation and development.Today, IBTA’s CBP certification is the fastest growing soft-skills certification for business professionals with partners in the US, Canada, Asia, Middle East, Australia, Latin America and the Caribbean.Additionally, IBTA’s CBP has gained the recognition and endorsement of leading people development organizations such as Future Business Leaders of America (FBLA), Junior Achievement International and International Computer Drivers License (ICDL).
IBTA is a knowledge-centered organization committed to the training and certifying of business professionals to international standards. The International Business Training Association is a global organization dedicated to:
1.Maintaining a common body of knowledge for business professionals

2.Providing global leadership in soft-skills for business professionals

3.Certifying business professionals in international standards

4.Administering training and certification examinations

Ensuring credentials are maintained and relevant through continuing education policies







Customer satisfaction research: It is very important to establish the customers' perception of the quality of product and service provided. It is a known fact that customers rarely complain - they just don't come back. Customer loyalty is considered to be worth ten times the price of a single purchase, as a loyal customer will return to make further purchases. Moreover, researchers claim that if a customer doesn't like the product or service, he will tell on an average eleven more people. This illustrates the importance of ensuring customer satisfaction. Customer satisfaction research is an increasingly becoming an essential ingredient in any program aimed at maintaining, if not increasing the customer base and revenues, enhancing brand value, etc. Conducting customer satisfaction research through a third-party has the advantage that the responses obtained are more reliable, as the respondents are more frank with a third-person. This is because in the case of third-party research, the customer-vendor relationship does not get affected. Customer Satisfaction Management & Measurement (CSMM) is an independent, specialist unit of IMRB International and the exclusive member of the Walker Information Global Network (WIGN) in the Indian subcontinent. It has many proven methodologies and processes for customer satisfaction research.
Corporate and Employee researchCorporate Image StudiesIn today's world of keen competition, a company is evaluated not just by its products but to a great extent by the imagery it conjures. With the consumer becoming more educated, this aspect is gaining importance by the day. Corporate image of a company is the sum total of its image among its various internal and external publics - consumers, employees, shareholders, suppliers and dealers, the financial community and even the government. The image of the company among industry federations and workers' unions etc is also important in understanding the equity of the company. A comprehensive Corporate Image study helps understand ones strengths and weaknesses as compared to the other corporate. We got great opportunity to handle customer satisfaction responsive study for Spear Business Academy.


































Ø Chapter 2 : Methodology
2.1] Data Source:
Any marketing research requires data collection to arrive at the solution of the problem. Data collection always starts with secondary data. Hence, in a way we can say that: – “Any marketing research starts with secondary data.”

Data can be broadly classified into two categories: –

1. Primary Data
2. Secondary Data

A) Primary Data: –
It can be defined as the data which are collected at first hand either by the researcher or by someone else especially for the purpose of the study. For example, the demographic statistics collected every ten years are the primary data with the Registrar General of India. It is gathered by a specifically designed to accommodate the data needs of the problem at hand. It is important as it helps us in arriving at the accurate solution to the problem of marketing research.

B) Secondary Data: –
Any data which have been gathered earlier for some other purpose are secondary data in the hands of the marketing researcher. When sufficient secondary data are available, considerable time and money may be saved. It helps us in better understanding of the problem. It can be collected internally or externally. Internal Data is one which is collected from within the organization. For example, data collected from Accounting Records. Many organizations have a separate department for handling secondary data. External Data is one which is collected from sources outside the organization. For example, data collected from Trade Association Reports or Industry Publications.

In our project we were broadly concentrated on the Primary data as it was a live project and our analysis was going to result in a huge financial investment into an institute. We gathered all possible data first hand by interviewing our target respondents personally on one to one basis.

As far as secondary data is concerned we used website of SBA institute for purpose of knowing about no. of courses, branches at SBA, which helped us in deciding over the quota for sampling and exact target etc.

2.2] Research approach:
Methods of Primary Data collection:
1. OBSERVATION
2. SURvey
3. Experimentation
SURVEY RESEARCH
Anything from a short paper & pencil feedback form to an in depth one to one interview is called as survey research. Survey can be divided into two broad categories:
· The Questionnaire
· The Interview
While considering the type of survey, we need to consider the costs, physical resources, and time required to conduct the survey.
Choice of particular survey method mainly based on:-
1. Cost
2. Time
3. Physical resources
Since each survey is different, there are no hard and fast rules for determining its size. The deciding factors in the scale of the survey operations are time, cost, operational constraints and the desired precision of the results. Also, consider what should be the acceptable level of error in the sample. If there is a lot of variability in the population, the sample size will need to be bigger to obtain the specified level of reliability.
Methods of Data Collection:-
1) Person –Administered
2) Computer-Administered
3) Self-Administered
PERSON-ADMINISTERED: In this method interviewer reads questions, either face-to-face or over the telephone, to the respondent and record his or her answers. Different ways of this method are as follows: -
· Face-to-face: Involves trained interviewers visiting people to collect questionnaire data. It is a good approach for ensuring a high response rate to a sample survey or census, and trained interviewers gather better quality data. However, there are some disadvantages to this approach. Respondents may not always be available for interviews and the travel costs of the interviewer could be high.
Advantages:
· Conducted in the privacy of the home, which facilitates interviewer-respondent rapport
· Can see “body language”
· Often much information per interview is gathered
Disadvantages:
· Cost per interview can be high
· Interviewers must travel to respondent’s home
· Telephone: involves trained interviewers phoning people to collect questionnaire data. This method is quicker and less expensive than face-to-face interviewing. However, only people with telephones can be interviewed, and the respondent can end the interview very easily!
Advantages:
· Good quality control
· Reasonable cost
· Long-distance calling is not a problem
· Sample located in distant geographies can be targeted
Disadvantage:
· Restricted to telephone communication

COMPUETR-ADMINISTERED: Computer technology plays an essential role in the interview work.
· Computer Assisted Personal interviewing (CAPI) (e-mail): is a form of personal interviewing, but instead of completing a questionnaire, the interviewer brings along a laptop or hand-held computer to enter the information directly into the database. This method saves time involved in processing the data, as well as saving the interviewer from carrying around hundreds of questionnaires. However, this type of data collection method can be expensive to set up and requires that interviewers have computer and typing skills.
Advantages:
· Respondent responds at his or her own pace
· Computer data file results
· Sample can be specifically targeted

Disadvantage:
Respondent must have access to a computer or be computer literate
· Computer Assisted Telephone Interviewing (CATI): is a type of telephone interview, but with the interviewer keying respondent answers directly into a computer. This saves time involved in processing data, but can be expensive to set up, and requires interviewers to have computer and typing skills. This approach for many of its surveys such as the Youth In Transition Survey, the Monthly Survey of Manufacturing, the General Social Survey and the Workplace Employee Survey.
Advantages:
· Computer eliminates human interviewer error
· Simultaneous data input to computer file
· Good quality control

Disadvantage:
· Setup costs can be high
· Electronic Data Reporting (EDR): Although this type of data reporting is still quite rare, it gives the respondents the option of choosing how they would like to report the data: filling out the usual paper questionnaire or using the electronic version. Because the technology evolves so quickly, remaining up-to-date with good and secure applications requires major investments.

· The Internet: The growing popularity of the Internet brought a major shift in Electronic Data Reporting (EDR). It is hard to find a quick and easy way of reporting answers through the Internet without sacrificing any of principles concerning confidentiality, privacy and data quality.
Advantages:
· Ease of creating and posting
· Fast turnaround
· Computer data file results
Disadvantage:
· Respondent must have access to the Internet

SELF-COMPLETED: In this method respondent completes the survey on his own.
· Mail survey: It is a relatively inexpensive method of collecting data, and one that can distribute large numbers of questionnaires in a short time. It provides the opportunity to contact hard-to-reach people, and respondents are able to complete the questionnaire in their own time. Mail surveys do require an up-to-date list of names and addresses, however. In addition, there is also the need to keep the questionnaire simple and straightforward.
Major disadvantage of a mail survey is that it usually has lower response rates than other data collection methods. This may lead to problems with data quality. Also, people with a limited ability to read or write English or French may experience problems.
In our research we approached our respondents through person administered method as design of our questionnaire was such that interviewing the person face to face was essential. As it is more interactive and interviewer’s authenticity is not questioned much both interviewer and respondent can enjoy the process.



2.3] Research Instruments:
The most common research instrument is the questionnaire. Keep these tips in mind when designing your market research questionnaire.
· Keep it simple.
· Include instructions for answering all questions included on the survey.
· Begin the survey with general questions and move towards more specific questions.
· Keep each question brief.
· If the questionnaire is completed by the respondent and not by an interviewer or survey staff member, remember to design a questionnaire that is graphically pleasing and easy to read.
· Remember to pre-test the questionnaire. Before taking the survey to the printer, ask a few people-such as regular customers, colleagues, friends or employees-to complete the survey. Ask them for feedback on the survey's style, simplicity and their perception of its purpose.
· Mix the form of the questions. Use scales, rankings, open-ended questions and closed-ended questions for different sections of the questionnaire. The "form" or way a question is asked may influence the answer given. Basically, there are two question forms: closed-end questions and open-end questions.
Close-end questions - Respondents choose from possible answers included on the questionnaire. Types of close-end questions include:
· Multiple choice questions which offer respondents the ability to answer "yes" or "no" or choose from a list of several answer choices.
· Scales refer to questions that ask respondents to rank their answers or measure their answer at a particular point on a scale. For example, a respondent may have the choice to rank their feelings towards a particular statement. The scale may range from "Strongly Disagree", "Disagree" and "Indifferent" to "Agree" and "Strongly Agree."
Open-end questions - Respondents answer questions in their own words. Completely unstructured questions allow respondents to answer any way they choose. Types of open-end questions include:
· Word association questions ask respondents to state the first word that comes to mind when a particular word is mentioned.
· Sentence, story or picture completion questions ask respondents to complete partial sentences, stories or pictures in their own words. For example, a question for commuters might read: "My daily commute between home and office is _____ miles and takes me an average of ______ minutes. I use the following mode of transportation: _______."

Questionnaire of our project was close ended. We provided respondent with range of options to answer. As we were evaluating brand of SBA, there were questions regarding perception of brand SBA in mind of students before deciding to take admission in SBA. We also measured the section wise satisfaction level of SBA student with SBA institute. Since we used mainly closed ended questions it helped us in analysis of data.


2.4] Sampling Plan:

In our daily life we reach to conclusions by describing the characteristics of a large number of items of a phenomenon usually referred as (population) based on an analysis of a limited number of items from that phenomenon (called sample). For example we taste a spoonful of soup and form an opinion.

The major reasons for sampling are as follows:
· Decision makers will have stipulated time to make decisions. If the consider the whole population, they cannot come to consensus within the stipulated time.
· The cost of gathering information is highly important.
· The accuracy can be maintained if we take small sample of a population.

The following are the managerial objectives of sampling:
· The data can be collected from the desired section omitting others.
· Sufficient accuracy that can be obtained by considering the sample.
· Research resources can be efficiently used.

By sampling also sometimes we get unimportant data. They are as follows:
1. Data produced is of high quality but not applicable to the problem definition.
2. The data produced is of stable result but becomes obsolete till it is produced.

Type of Sampling Procedures:
There are two types of sampling procedures.
1. Probability Sampling Methods
2. Non probability Sampling Methods

Much of the sampling in marketing research is non-probability in nature. That is, samples are selected on the basis of the judgment of the investigator, convenience, or by some other non random process rather than by the use of a table of random numbers or some other randomizing device.

The advantages of probability sampling are that, if done properly, it provides a bias free method of selecting sample units and permits the measurement of sampling error. Non probability samples offer neither of these features. In non probability samples offer neither of these features. In non probability sampling one must rely on the expertise of the person taking the sample, whereas in probability sampling the results are independent of the investigator.


1. Non probability sampling procedures:

Quota Sampling:
In quota sampling the sizes of various subclasses in the population are first estimated from some outside source, such as from Bureau of the Census Data. Since the interviewers judgment is relied upon to select actual respondents within each quota, many sources of selection bias are potentially present.
For example there are 200 completed interviews. To the extent possible, the sample should be as follows:
Area: 25 – 30% from Vashi & Nerul Navi Mumbai.
70 – 75% from Retail Outlets
.
Sex: 60% Males
40% Females. Etc.

Judgment Sampling (Purposive Sampling):
The key assumption underlying this type of sampling is that, with sound judgment or expertise and an appropriate strategy, one can carefully and consciously choose the elements to be included in the sample so that samples can be developed that are suitable for one’s needs. The intent is to select elements that are believed to be typical or representative of the population in such a way that errors of judgment in the selection will cancel out each other out.
Ex: The Company wants to know why new product fails, so it conducted surveys on competitors whose products were similar or related to those it produced.

Convenience Sampling:
In convenience sampling selection, the sampler chooses the sampling units on the basis of “convenience” or “accessibility”. This form of sample selection is commonly used in the “man on the street” form of interviewing and, at times, associates may be interviewed, and, at times associates may be interviewed simply because they are accessible.
Ex: A study on children responses to television commercials.




Snowball Sampling:
In snowball sampling, initial sampling units are selected using probability methods, but additional units are then obtained from information supplied by the initial units (referrals).
Ex: To find 100 serious foot ball players. By probability methods consider a sample of 300. These 300 produce names of 10 players. These players give the reference of others. In this way snowballing effect is produced.

2. Probability sampling procedures:
Simple Random Sampling:
A simple random sample is one in which each sample element has a known and equal probability of selection, and each possible sample of n elements has a known and equal probability of being the sample actually selected. The main use of this method is that we can find the small frame consisting of every small unit.
Ex: Industrial marketing research.

Systematic Sampling:
A systematic sample is one which each sample element has a known and equal probability of selection. The permissible samples of size n that are possible to be drawn have a known and equal probability of selection, while the remaining samples of size n have a probability of zero of being selected.
Ex: If there are 600 members of the population and one desires a sample of 60, the sampling interval is 10. A random number is then selected between 1 and 10, inclusively; suppose the number turns out to be 5. The analyst then takes as the sample elements 5, 15, 25 and so on.

Stratified Sampling:
A stratified random sample is one in which a simple random sample is taken from each stratum of interest in the population. Stratified samples have the general characteristics as the entire population is first divided into an exclusive and exhaustive set of strata, using some external source, such as census data, to form the strata. Within each stratum a separate random sample is selected.

Two basic varieties of stratified samples are:
· Proportionate stratified sampling: The sample that is drawn from each stratum is made proportionate in size to the relative size of that stratum in the total population.
· Disproportionate stratified sampling: It is one departs from the preceding type of proportionality by taking other circumstances, such as the relative size of stratum variances, into account.
The greater the within stratum homogeneity and the amongst – strata heterogeneity, the more efficient is stratified sampling.
Ex: Average purchases of consumer of hot cereals.

Cluster Sampling:
The researcher is here interested to study characteristics of some elementary element in the population. He first divides population into blocks (cities, towns etc). Each block consists of cluster of respondents.
Ex: Individual family attitude towards a new product.

Area Sampling:
As the name suggests, area sampling pertains to primary sampling of geographical areas. For Ex: counties, townships, blocks and other area description. If only one level of sampling takes place before the basic elements are sampled, it is a single stage area sample. If one or more successive samples within the larger area are taken before settling on the final clusters, the resulting design is usually referred to as a multistage area sample.
Ex: Dividing an area into blocks and sampling in these blocks.

When we go for market research we must know what sample size to take? There are two different approaches for this:

n Based on Number of samples
• Fixed Sampling
Here the size of sample is already calculated and then the research is done.
• Sequential Sampling
Here sample size is not determined before hand. If it is observed that the sample size is not adequate the new population is added to sample size.

n Based on LogicF
• Traditional Methods
These methods are very easy to implement and can be used for any market research. But generally they avoid some sampling errors.

• Bayesian Inferential Method
This method is very logical and very systematic but it is very complicated therefore it becomes very difficult for understanding and use.

In our project of measuring SBA brand we have divided the whole census into different samples. The complete population is subdivided using quota sampling method. We selected 96 students at SBA, Mumbai as per instructions to us. These are divided on basis of specific requirement of data; hence we had decided the quota on the basis of present SBA students from all over Mumbai, as SBA has its presence in many cities in India. In our case we have handled the quota of SBA students in Mumbai.


2.5] Contact method:

Contact method can be of many types like, one can contact respondent telephonically, personally by random selection, one can contact the person from maintained database or direct meeting is also by a prior appointment.
In our project we have followed direct contact method in which we had met respondent and asked for his/her response on our research.











Ø Chapter 3 : Data Analysis and Interpretation
We have gathered the data by interviewing the students of SBA and other college students personally. As it was very much important to have accurate and authentic information about different factors which may influence investment decision, we have tried our best to analyse collected data properly.

1. Factors considered by students before admission:

Following are few factors which students had considered before taking admission into SBA. The figures in the cells are representing the no. of responses from students for particular factor.
Form this table we can conclude that areas like brand image of institute, placement records, course fees, industry exposure and specializations are highly influential factors for students.
Factors considered
Influenced a lot
Influenced somewhat
Did not influence
Reputation/Brand image
14
9
2
Academics/Course content
7
15
3
Placement records
17
4
4
Recognition by IBTA
7
11
7
Course fee
11
8
6
Infrastructure & Facilities
3
20
2
Specialization
14
11
0
Faculty profile
4
14
7
Industry interface
10
11
4
Starting salary level
9
9
7

Table no.1


2. Information source which influence student’s admission decision:

Then the question arises that from where students get all these information. There is lot of sources from where students get all required information. Following table shows some of important information sources and how they influence the decision of student of taking admission into SBA. The figures in the cells are representing the no. of responses from students for particular factor.


Information Source
Influenced a lot
Influenced somewhat
Did not influence
Parents &Other family member
2
8
15
Friends/peers
2
13
10
Seniors
6
6
13
Professors
5
6
14
Advertisement in various media
7
5
13
Websites/Blogs/Online forum
6
8
11










Table no.2

From the above frequency table, it is very clear that guidance and information about SBA should tie up with various coaching classes for conducting informative lectures to make aspirants aware about SBA’s position on various factors they consider for choosing Institute and by this way SBA can increase their visibility effectively through effective source. SBA should also increase advertising in coaching classes’ publications.
Second thing that influence students most in perception building is the magazine ranki so SBA should participate in such type of surveys and continuously improve those aspects which are considered for rankings.

3. Measurement of student expectation related to various factors:

The table below shows the measurement of student’s satisfaction related to various factors brand, course content, faculty etc. the figures in the cells are representing responses from students for particular factor.

Expectation level
A
B
C
D
E
F
G
H
I
J
Exceeded expectation
1
1
7
2
4
4
4
4
2
1
Meets expectation
11
13
9
11
9
12
10
9
13
13
Close to expectation
9
8
7
7
7
7
9
7
7
7
Below expectation
4
3
1
4
5
1
2
3
2
3
Well below expectation
0
0
1
1
0
1
0
2
1
1

Table no.3
Where:
A
Reputation/Brand image
B
Academics/Course content
C
Placement records
D
Recognition by IBTA
E
Course fee
F
Infrastructure & Facilities
G
Specialization
H
Faculty profile
I
Industry interface
J
Starting salary level

The graphs shown below are of ten variables (A, B, C,…., J) against responses we got from students where 1,2,…,5 on x axis are:
1à Exceeded expectation
2à Meets expectation
3à Close to expectation
4à Below expectation
5à Well below expectation
Figures on y axis are the no. of responses for particular expectation level.
a) Reputation or brand of SBA:
Graph A
The graph above shows that reputation and brand of SBA are meeting expectation level of students.










b) Academics and course content at SBA:

Graph B

The graph above shows that academics and course content at SBA are meeting expectation level of students.




















c) Placement records:

Graph C

The graph above shows that placement records at SBA are quite meeting expectation level of students.
















d) Recognition by IBTA:



Graph D

The graph above shows that approval from IBTA to SBA is meeting expectation level of students.















e) Course fees:


Graph E

The graph above shows that course fees at SBA is meeting expectation level of students.
















f) Infrastructure & facilities:


Graph F

The graph above shows that infrastructure & facilities at SBA is meeting expectation level of students.
















g) Specialisation:


Graph G


The graph above shows that specialization in subjects provided at SBA is between meeting expectation and close to expectation level.















h) Faculty profile:


Graph H

The graph above shows that profile of SBA faculties is meeting expectation level of students.
















i) Industry interface:


Graph I


The graph above shows that industry exposure at SBA is good and meeting expectation level of students.















j) Starting salary level:



Graph J


The graph above shows that starting salary level after placement at SBA is good and meeting expectation level of students.

From all above factors and responses for those we can infer that overall students are satisfied with facilities and all they are getting at SBA.





To reduce all ten factors mentioned in table no.3 to fewer factors for the ease of analysis, below we have applied factor analysis. We got all statistics & graphs from SPSS (data analysis software) by inserting data in to software.

Correlation Matrix:
Values in the cells represent correlation coefficients of one variable relating to another variable. The coefficients of correlation express the degree of linear relationship between the row and column variables of the matrix. More closely the coefficient to zero the lesser is the relationship; the closer to one, the greater the relationship. A negative sign indicates that the variables are inversely related.

Correlation is relation between selected single factor and all other factors. Table below shows the same; with this we can make one single factor as representative of others.



A
B
C
D
E
F
G
H
I
J
A
1
0.9779
0.6615
0.9775
0.9276
0.8675
0.9228
0.9375
0.9293
0.9507
B
0.9779
1
0.7134
0.9971
0.9094
0.9331
0.9186
0.9630
0.9844
0.9929
C
0.6615
0.7134
1
0.6908
0.7487
0.8934
0.8890
0.8708
0.7674
0.6813
D
0.9775
0.9971
0.6908
1
0.9255
0.9158
0.9036
0.9499
0.9750
0.9897
E
0.9276
0.9094
0.7487
0.9255
1
0.8426
0.9132
0.9102
0.8613
0.8674
F
0.8675
0.9331
0.8934
0.9158
0.8426
1
0.9400
0.9801
0.9716
0.9305
G
0.9228
0.9186
0.8890
0.9036
0.9132
0.9400
1
0.9836
0.9086
0.8773
H
0.9375
0.9630
0.8708
0.9499
0.9102
0.9801
0.9836
1
0.9679
0.9417
I
0.9293
0.9844
0.7674
0.9750
0.8613
0.9716
0.9086
0.9679
1
0.9903
J
0.9507
0.9929
0.6813
0.9897
0.8674
0.9305
0.8773
0.9417
0.9903
1

Table no. 4





Now to reduce different factors in to few, we find out eigen values and components whose values are more than one are selected. This criterion is widely used and called The Kaiser criterion.
There is only one component whose value is greater than one and that is component 1, so only one factor (Component-1) is extracted for analysis. Components mentioned in the table are factors discussed previously on scale of student’s satisfaction.

Component
Initial Eigenvalues
Extraction Sums of Squared Loadings

Total
% of Variance
Cumulative %
Total
% of Variance
Cumulative %
1
9.152
91.518
91.518
9.152
91.518
91.518
2
.556
5.557
97.075



3
.227
2.269
99.344



4
.066
.656
100.000



5
.000
.000
100.000



6
.000
.000
100.000



7
.000
.000
100.000



8
.000
.000
100.000



9
.000
.000
100.000



10
.000
.000
100.000




Table no. 5














For easier interpretation Kaiser Criterion table shown above a pictorial representation called scree plot is used.

The graph below shows pictorially, eign values against component number, its just an extension of the table above to enhance visibility.


Graph no. 1




The table below shows how different variable are attached to the factor extracted and from these coefficients in the second column, weightage is calculated to reduce ten factors in to one factor, so that one factor can conclude on investment decision in SBA.
Factors
Factor ‘k’
Weightage
%
A
0.959728068
0.100441667
B
0.984343703
0.10301785
C
0.823522008
0.086186834
D
0.977722385
0.102324887
E
0.931736703
0.097512192
F
0.969497886
0.101464141
G
0.967241969
0.101228045
H
0.994004166
0.10402888
I
0.980092047
0.102572888
J
0.967190099
0.101222616












Table no.6



In the table below last column is of factor K which replaces all ten factors and values are calculated from the weightage calculated




Variable
A
B
C
D
E
F
G
H
I
J
Factor K
Weightage
0.1004
0.103
0.0862
0.1023
0.098
0.1015
0.1012
0.104
0.103
0.1012
-------












E.E.
1
1
7
2
4
4
4
4
2
1
3
M.E.
11
13
9
11
9
12
10
9
13
13
11
C.E.
9
8
7
7
7
7
9
7
7
7
7
B.E.
4
3
1
4
5
1
2
3
2
3
3
W.E.
0
0
1
1
0
1
0
2
1
1
1

Table no.7



Where;

E.E. à Exceeded expectation
M.E. à Meets expectation
C.E. à Close to expectation
B.E. à Below expectation
W.E. à Well below expectation
Graph of the factor which is equivalent to all ten factors against responses is shown below.
Graph K

From Graph K we can see that most students’ responses say that SBA is meeting their expectations.





Ø Chapter 4 : Key Findings

Analysing the collected data is very essential for arriving at any conclusion. During the process of analysis we found out that many students do get influenced by brand and reputation of SBA, they consider this factor a lot while deciding the college for the admission.

Other important factors which student consider before taking admission are; course fees, placement records, academic specialisation available and industry interface or exposure provided to students.

We have also found out that SBA has introduced sudden hike in the course fees and with which students are not comfortable, since as mentioned earlier course fees is one of the main factors considered by students while taking admission.

In this project we have also mentioned the areas where improvement is required in SBA according to its students.









Ø Chapter 5 : Conclusion

As mentioned earlier Indian government has allowed FDI in our education system, there is lot of market and opportunity available for outsider big investors and domestic investors.

As brand we would say SBA is a well known brand with good reputation in students and industry. As far as investment in SBA is concerned we have analysed that most of factors and variables are supporting the investment decision but as new issue of fees hike has aroused unexpectedly we would suggest the waiting period of 12 to 18 months. This is to certify that as does this fee hike is hampering admissions at SBA or not, and also to see what effects are generated on placement.

We have suggested that substantial part of this investment must flow into improvement of infrastructure and facilities at SBA.










Ø Chapter 6 : Recommendations

Further we have analysed areas where SBA institute need to work on or improve on.
This will also help the investor as in where to concentrate major flow of his investment.
More the improvement in those areas more will be the student satisfaction and intern more students will get attracted towards the institute.
After all maximum return on investment in minimum period is every investor’s objective.

Following table shows areas/ factors where improvement in needed:

Factors
Responses
Reputation / Brand image
4
Academics / Course content
15
Placement records
12
Recognition by IBTA
2
Course fee
5
Infrastructure & Facilities
23
Specialization
3
Faculty profile
5
Industry interface
3
Starting salary level
2










Table no.8














Following graph gives clear interpretation of areas where improvement is required according to SBA students.



Graph no. 2
Where:

















Most of the students are of view that infrastructure improvement should be the first priority of management while the second urgent priority is course content. Third priority is placement record.

As far as investment in SBA is concerned we have analysed that most of factors and variables are supporting the investment decision but as new issue of fees hike has aroused unexpectedly we would suggest the waiting period of 12 to 18 months. This is to certify that as does this fee hike is hampering admissions at SBA or not, and also to see what effects are generated on placement.

Key Findings:
Ø Key features of SBA products & services.
Ø Areas of business SBA is providing best solutions.
Ø Areas of business SBA should improve.
Ø Customer Expectations from SBA
Ø Areas of business SBA can expand their volume of business.
Ø Efforts for customer relationship management SBA should take with respect to their products & services.




Recommendations:
After interviewing all C – level persons of SBA clients we have aroused at following recommendations:
Ø SBA must work on its time line for particular project i.e. no wastage of time.
Ø They must concentrate on effective after sales customer support.
Ø SBA have to work on spare parts of its products.
Ø More exploration of new service i.e. customer studio.
Ø Try to be more innovative.
Conclusion:
As SBA always tries to continuously improve upon their responsiveness in all spheres of interaction, this project was our sincere effort to help SBA in maintaining healthy relationship with their customers.
Overall code of conduct for this project was excellent and we hope that data which we had collected for SBA (not mention in this report for reason of confidentiality) will help them in inventing new areas & restructuring old areas in way of customer satisfaction management.









Abbreviations

SBA: Spear Business Academy
FDI: Foreign Direct Investment
IBTA: International Business Training Association
CSMM: Customer Satisfaction Management & Measurement
PQR: Probe Qualitative Research
SRI: Social and Rural Research Institute
BIRD: Business & Industrial Research Division
KAP: Knowledge, Attitudes & Practice
TRP: Television Rating Program
NRS: National Readership Surveys
EPABX: Electronic Private Automatic Board Exchange
VSAT: Very Small Aperture terminal








References:

Ø Secondary data sheets from SBA
Spear Business Academy 104-106, 1st Floor, Corporate Avenue, Next to Udyog Bhavan,
Sonawala Lane,
Near Goregoan Station,
Goregoan (E), Mumbai-63
.

Ø Questionnaires by SBA Research dept.,
B-101, 1stFloor,Moreshwar Building,Sector-20,Opp.Nerul Station Nerul(West), Mumbai No.400 706
Marketing Research: Text and Cases,
by Dr. RAJENDRA NARGUNDKAR.

Ø www.spearbusinessacademy.com


Ø www.speartechsolutions.com


Ø www.marketresearch.com