Brand Evaluation for Financial Investment & 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 IMRB International, 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-Telecom Management, SITM 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 Mr. Col. Virendra kapoor 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 Col. Virendra Kapoor, deputy director Prof. Mr. Marathe, Prof. Mrs. Joshi 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 SITM who always helped us to know and learn various aspects of telecom management at various stages of our curriculum.

Symbiosis Institute of Telecom Management Pune - 16

1

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

2

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

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

Symbiosis Institute of Telecom Management Pune - 16

3

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 IMRB of evaluation of brand of a B-school which has its branches in many parts of our country for financial investment into it.

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. From the same prospective our client at IMRB had expressed his intention to invest in Institute of Technology and Management (ITM) a B-school in India with multistate presence in front of us.

We at IMRB have evaluated brand ITM 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 Symbiosis Institute of Telecom Management Pune - 16 4

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement analysis overall conclusion over brand ITM, so that our client at IMRB would feel easier to decide over his decision of investment.

Symbiosis Institute of Telecom Management Pune - 16

5

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

6

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Brand Evaluation for Financial Investment

We got this project of evaluating the brand ITM as our client is interested in investing in ITM.

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

 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 Institute of Technology and Management (ITM) a B-school in India with multistate presence in front of us.

Symbiosis Institute of Telecom Management Pune - 16

7

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Methodology:

Hence we have evaluated ITM as a B-school 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 decision of investment in to the ITM institute.

To add on to the client’s requirements we have also highlighted the areas where improvement is required in ITM 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 ITM, they consider this factor a lot while deciding the college for the admission.

Symbiosis Institute of Telecom Management Pune - 16

8

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 ITM 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 ITM 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 ITM is a well known brand with good reputation in students and industry. As far as investment in ITM 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 ITM or not, and also to see what effects are generated on placement.

Symbiosis Institute of Telecom Management Pune - 16

9

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement We have suggested that substantial part of this investment must flow into improvement of infrastructure and facilities at ITM.

Symbiosis Institute of Telecom Management Pune - 16

10

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

11

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

 Chapter 1 : Company Overview

1.1] Company profile: Established in 1971 and with over three decades of market research experience, IMRB International is a pioneer in India in various research areas. Associated with a group of international market companies such as the British Market Research Bureau (BMRB) and Millward Brown International, IMRB International operates out of thirteen cities in India and has associate offices in Sri Lanka, Bangladesh and Nepal. The 500 member strong IMRB International promises high quality conceptualization, strategic thinking, execution and interpretation skills on all its clients' research needs. In 1996, IMRB International managed 2,500 projects and 4,000,000 interviews. IMRB International is the only research company in India today that offers the entire range of research based services to its clients. IMRB International's specialised areas are consumer markets, industrial marketing, business to business marketing, social marketing and rural marketing. IMRB International is the market research wing of J Walter Thompson (JWT) - the leading advertising agency in India. JWT in turn belongs to the Kantar Group, which in turn is a part of the WPP Group - the largest advertising group in the world. Kantar Group: The Kantar group was established in 1993, a London based holding company responsible for WPP's worldwide information and consultancy interests. Kantar, is the world's largest survey organization and is ranked 3rd overall. It comprises three global research businesses - Research International, Millward Brown and Kantar Media Symbiosis Institute of Telecom Management Pune - 16 12

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Research and four regional ones - BMRB International, IMRB International, Goldfarb and Winona. Each is a leader in its own area of expertise or specialization. The research studies in over 130 countries. The Kantar group specialized in:  Qualitative and quantitative research  Tracking studies  International research  Predictive modelling  Media measurement  Data capture and handling  Strategic research  Customer handling

J. Walter Thompson Company: The world's first global brand communication company that provides its clients with both short term sales success and long term brand value. J.Walter Thompson was founded in 1864, with 246 offices globally and more than 9200 employees. JWT's proprietary planning process, Thomson total branding in now installed in all offices world wide guarantying a uniform level of excellence in the development of Brand Vision, a Branding Idea and Total Communication Plan.

Millward Brown International (MBI): IMRB International is the licensee for all Millward Brown products in South Asia (India, Pakistan, Sri Lanka, Nepal, and Bangladesh). Walker Information Global Network (WIGN) Customer Satisfaction Management & Measurement (CSMM), one of the specialist Symbiosis Institute of Telecom Management Pune - 16 13

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement units of IMRB International, is an exclusive-member of Walker Information Global Network (WIGN) in the Indian subcontinent. Walker Information Global Network is the only international partnership dedicated exclusively to stakeholder measurement and management. CSMM uses proprietary tools developed by Walker Information, the recognized pioneer in customer satisfaction.

Research International (RI) Research International is a world's largest custom market research agency. It has more offices in more than 50 countries and has an experience of working in over 130 countries. Research International specialized in:  Branding and Communication  Innovation and Product Development  Category Management  Consumer strategy  Customer Relationship  Service measurement

IMRB International has acted as a catalyst in the development of market research infrastructure in neighbouring countries. We work with associate companies in Sri Lanka (Lanka Market Research Bureau) and in the Middle East (Arab Market Research Bureau), and through affiliates in Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Egypt, Tunisia, Nepal, Pakistan, Bangladesh and Myanmar.

Symbiosis Institute of Telecom Management Pune - 16

14

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement IMRB International's Divisions: IMRB International has been offering over 30 years of specialist research services to clients in India and overseas on products and services covering the entire gamut of business and industry. IMRB International today, operates out of its five full service offices in Mumbai, Delhi, Calcutta, Chennai and Bangalore and is supported by 15 other regional centers for collection of survey information that literally span the entire country. IMRB is able to provide the highest quality of professional services to the utmost satisfaction of clients which include the small medium and large scale industries, the government and public sector units, multinational corporations and international companies that are eyeing the highly promising Indian market. To serve the diverse needs of clients, IMRB also have five specialist units:-

 Probe Qualitative Research (PQR)  Social and Rural Research Institute (SRI)  Media & Panel Research Group  Customer Satisfaction Management & Measurement (CSMM)  Business & Industrial Research Division (BIRD) and the eTechnology group@IMRB International

Probe Qualitative Research is one of India's leading qualitative research groups and has executives specially trained in India and overseas in qualitative research methods. Drawing on learning from ethnography, psychology and anthropology, PQR has created a validated tool-kit for product, communication and brand development.

The Social and Rural Research Institute specializes in social research and in Symbiosis Institute of Telecom Management Pune - 16 15

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement conducting research on emerging rural markets. It has staff with special expertise in conducting Knowledge, Attitudes & Practice (KAP), Studies on health and sanitation, water, environment and other fields, in India as well as internationally.

The Media and Panel Group of IMRB International is a pioneer in the field of media research in India. It has been conducting the National Readership Surveys in India since 1978. It has been running India's only Television Rating Program (TRP) since 1986, the year in which television went commercial in a major way. It has also developed its own people meters.

Customer Satisfaction Management & Measurement is part of the Walker Information Global Network and is the first such specialist organization in India with an exclusive focus on customer and employee satisfaction, reputation and stakeholder assessment.

Business & Industrial Research Division (BIRD) and the eTechnology Group@IMRB International: As industrial markets transformed from monopolies to competitive markets, the need for research based consultancy services was demanded of IMRB International. IMRB International spun off the Business & Industrial Research Division to meet the growing and changing needs of the industrial marketer. Over a decade of research experience in telecommunication, office automation, information technology and the convergence of these technologies has given the eTechnology Group of IMRB International, knowledge and experience in a wide spectrum of hardware, software and services.

Symbiosis Institute of Telecom Management Pune - 16

16

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 1.2] Divisions In brief: PQR: Probe Qualitative Research (PQR) was established in 1979, in the belief that qualitative research demands expertise and training inputs of an exceptional kind. From its inception PQR has been associated with leading international qualitative research organizations. It is the largest and fastest growing qualitative research organization in the country. PQR provides research which is analytical and actionable, seeking to resolve particular client problems and questions and providing future direction. It also provides high quality insight and multi-disciplinary exploration of consumer motivation and behavior through a strong base of multilingual research executives and moderators.

SRI: The Social and Rural Research Institute (SRI) was set up in 1990 with the objective of establishing a specialist unit to give focus and identity to two aspects of research that IMRB International had, in fact, been actively involved in for several years, namely, social research and research of and for rural markets. SRI uses a combination of desk research, qualitative research techniques such as focus group discussions and participatory research as well as quantitative research techniques. In addition SRI approaches each research subject with an open mind and adapts market research techniques to suit the special requirements of illiteracy, poor articulation, several languages and dialects. SRI has two distinct missions that guide its operations: To study social issues with commitment, expertise, objectivity and an orientation towards action ability, and to set up databases and research expertise with regard to marketing in rural India , where Symbiosis Institute of Telecom Management Pune - 16 17

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement hitherto there has been a paucity of data. SRI guided by its mission specializes in conducting Social research and rural research. Social research deals with research on causes and issues that can contribute to action which would bring about social change. Rural research pertains to research in, of and for rural areas, both for social issues as well as for rural marketing. SRI takes pride in having the resources to conduct data collection in almost any part of the country. It can undertake nation wide surveys almost simultaneously and much faster than others. In last three years, we have undertaken four nation wide surveys and have IMRB’s presence in almost all parts of the country.

Media & Panel Group: IMRB International has been a pioneer in conducting large scale Media and continuous panel research in India. It has historically been associated with the National Readership Surveys (NRS) conducted in India since 1978. The Television Rating Points System (TRP) from IMRB International is India's only continuous Television Audience Measurement service since 1986, the year in which television in India went commercial in a major way. The TRP ratings are the official "currency" for air time transactions in the country. Currently, the TRP Diary System is in the process of changing over to PeopleMeter based audience measurement service. The industry contract to set up the National PeopleMeter based Television Audience Measurement System has been awarded to the joint venture company being set up by IMRB International in collaboration with A. C. Nielsen. In addition, the Media & Panel Research Group also operates Consumer Purchase Panels in both urban and rural India which monitors the purchase of FMCGs, toiletries, personal products and OTC medicinal products. Symbiosis Institute of Telecom Management Pune - 16 18

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

CSMM: 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. As a specialist unit of IMRB International, CSMM provides the widest field coverage with five full service offices and 13 field offices in Delhi, Calcutta, Mumbai, Chennai, Bangalore, Hyderabad, Cochin, Pune, Patna, Ahmedabad, Guwahati, Bhubaneswar and Lucknow. CSMM services clients in India and neighbouring countries (Sri Lanka, Bangladesh, Pakistan and Nepal) and this diverse network has made CSMM the leading provider of stakeholder products and services in South Asia. As the exclusive member of the Walker Information Global Network (WIGN) in South Asia, CSMM uses the proprietary tools developed by Walker Information, the recognized pioneers in Stakeholder Measurement and Management with over 30 years experience. The network offers the world's most thoroughly tested and proven system and also provides appropriate benchmarks through the WIGN Normative Database TM. CSMM provides a range of consulting products and services to manage external customer satisfaction and employee commitment to integrate stakeholder measurement and management efforts into the company's decision-making process at all levels. Working with over 80 clients from diverse sectors, including financial services, hotels, telecommunications, retailing, consumer products, automotive and engineering/industrial goods, CSMM provides strategic information services to enhance customer loyalty amongst both end customers and trade channel customers as well as to build employee commitment. CSMM offers a team of highly trained and experienced consultants with multi-disciplinary backgrounds. To assist you in your Symbiosis Institute of Telecom Management Pune - 16 19

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Stakeholder Management practices, IMRB’s consultants have experience in conducting multi-country and regional programmes for leading Indian and multinational companies, across various sectors and are equipped to give you professional and accurate assistance for your strategic decisions, including deployment and integration assistance.

BIRD: Verticals Researched Oil and Gas: Higher-end telecommunication services and products for business use including products and services for integrated networking of voice and data products and services that enhance productivity and efficiency of offices such as copiers, computers, printers, etc. The steel sector both for measuring quality of service as well as recommending an appropriate product mix in the emerging private enterprise scenario Chemicals and Petrochemicals, Core sectors such as power, coal, etc., Electrical Equipment , Machinery-heavy and light.

eTechnology Group@IMRB International: "It took 50 years for the world to have 50 million telephones and only 5 years for Internet to reach 50 million users." "There is a tremendous excitement in India surrounding the Internet. We have wanted to come to India for sometime now. In fact, India today is like the US was some three years ago." As the technology evolves and creates communications infrastructure, barriers to progress continue to arise. Some problems are technical, economic or policy-related, while the hardest combine all three aspects in any country. "What you know is wrong!" Today, that may be the easiest advice anyone can give about Symbiosis Institute of Telecom Management Pune - 16 20

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement technology market. Even the experts are constantly caught by surprise, How far things are estimated right? It is the continuous link with the industry and constant monitoring that has given a few the capabilities of understanding the movement of technology market and estimating things right. The eTechnology Group@IMRB International can dare claiming that it is probably one of the very few groups that has constantly monitored the technology market and actually estimated this difficult market quite well during the last few years. eTechnology Group@IMRB International : Products Researched. The various products and services researched in the recent past are:

Telecom  Basic telephone services  Cellular Phones  Cable T.V. services  Calling card services  Call collect services  Cordless telephones  Electronic push button telephones  E-mailing & value-added services  EPABX  Facsimile machines  FM-RDS Pagers  Internet  Leased lines  One-number services Symbiosis Institute of Telecom Management Pune - 16 21

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement  Radio Paging services  Radio Trunked services  Toll free services  Transceivers/Two-way radios  Videotext services  Video conferencing  Voicemail  Virtual telephone networks  VSATs - TDMA/DAMA and Bandwidth on Demand applications  WAP devices & services

IT/Internet  PC  Servers  Networking devices  Peripherals  UPS  Packaged software  Application software development  ISPs  B2B services (Steel, Plastics etc.)  B2C services  Ecommerce sites  Backbone bandwidth requirement Symbiosis Institute of Telecom Management Pune - 16 22

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

1.3] Sectors at IMRB research: Ever since its establishment in 1971, IMRB International has been the pioneer in conducting market research exercises for several sectors. Today, there is hardly any sector that IMRB International hasn't researched. From potato wafers to PCs, cigarettes to cellular phones, alcohol to air conditioners and bubble gums to big-sized cars - just name it and we have researched it. Alcohol Automotive Agriculture and Agro-products Building and Construction Consumer Durable Household Care IT, Internet and Telecom Industry and Business Media and Entertainment Social and Rural Tobacco

1.4] Services offered at IMRB: The depth and breadth of services that we provide are extensive and includes research and advisory services in the following areas: Advertising, promotion and media research B2B and Industrial Research Brand Research Symbiosis Institute of Telecom Management Pune - 16 23

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Customer Satisfaction Research Corporate and Employee Research Channel and Retail Research Product and Packaging Research Pricing Research Strategic Market Research Following are few profiles of services offered at IMRB on which we SITM students have worked during 2 months of our internship.

B2B and Industrial research: In this era of ever-increasing competition, managers do not have the time to focus effectively on each and every aspect of their business. This exactly explains why a sizeable chunk of most organizations' total expenditure is spent on outsourced services. One such area is business to business and industrial research, which is aimed at servicing the information needs of organizations interested in increasing their competitive advantage. Ideally, it is not just about end consumer surveys. B2B and industrial research provides information pertaining to a whole gamut of activities in the value chain, including decisions flow right from raw material sourcing to manufacturing to distribution channel to end consumer in the B2B and industrial products and services. It is also about new technologies, sales prospecting, pricing, and demand forecasting and exploring new market opportunities.

Brand research: Brands today are operating in an extremely dynamic market. As the marketplace Symbiosis Institute of Telecom Management Pune - 16 24

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement changes, you need to evaluate your brand's position compared to the competition. The best way to accomplish this is by periodically tracking your competitive advantage on the relevant brand health parameters and customer perceptions. Also, in order to break from the clutter, one needs to identify one or more characteristics that set your product or brand apart from competitors. This helps in establishing a strong position in the minds of customers. Additionally, understanding the attitudes of your consumers and their usage patterns is crucial to virtually every decision you make. Understanding why consumers choose one brand over another is vital to success in this ever-evolving marketplace. This level of understanding provides an extremely effective tool for identifying and targeting potential customers. IMRB International design usage and attitudes (U&A) studies that provide quintessential information to lay the foundation for successful strategic marketing. In addition to assessing U&A patterns for the category, IMRB’s studies often serve as useful benchmark tools, allowing you to measure your performance across all the parameters important to the category, and target specific areas to track over time. Under brand research section at IMRB we handled a major project named brand recognition of a B-school in Mumbai for purpose of big foreign investment into it.

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, Symbiosis Institute of Telecom Management Pune - 16 25

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 thirdparty 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 research Corporate Image Studies In 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. Symbiosis Institute of Telecom Management Pune - 16 26

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement We got great opportunity to handle customer satisfaction responsive study for company Avaya Global Connect Ltd. Also we took an integral part in deciding over correctness of the questionnaire. IMRB International has handled Corporate Image studies for a number of leading corporate in the country. IMRB International's specialist division CSMM is the sole licensee for Walker Information Network processes for corporate image studies.

ITOPS: A half yearly track of the Indian PC, Networking and Software market. This report gives details on the PC / LAN / Printers / UPS / Networking Products / Software / Internet Penetration in terms of their Installed Bases, Market Sizes, etc. The report also gives details on the most popular brands of the above mentioned IT products. The report has an extensive coverage of over 8,000 business Establishments and more than 6,000 affluent households (SEC A, B, C) in the 16 cities of the country. Started in 1997, this study is already in its Ninth Round now. Sponsored by Manufacturer's Association of IT (MAIT), this report is subscribed by almost all the major players in the IT Market. We would like to mention that we were lucky to be part of half yearly ITOPS PROJECT 2008 & we had good experience of PC penetration and PC awareness in not only corporate circle but also in household segment from SEC A, B and C.

Internet in India:

Symbiosis Institute of Telecom Management Pune - 16

27

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Internet in India (or I-Cube as it is known popularly) is an annual study designed to be a strategic tool for the marketers to tap the benefits of the Internet. First initiated in the year 1998 (when even the ISP licenses in India were not issued), the report has been a best seller in the research industry, with the Year 2000 Volume selling 107 Volumes.

The report has been evolving over the past, with new areas in the Internet Arena being explored in each new version. The Year 1998 version had depth understanding of the likely profile of the Internet Users, while the Year 1999 version explored various ways the market size can be increased. The Year 2000 version broke several myths surrounding the Internet Users and gave clear definitions of Active Users.

The Year 2000 version also explored various issues like Content, Advertising and brand building on the Internet, ISP market, and alternate access devices, Cyber Café, Kiosks and E-Commerce. Internet in India 2001 is the latest version and is expected to hit the stands in Mid February 2002. The Y2K+1 version of the report has a solitary motive - How to make money on the Net. This year the reports would be divided into 8 volumes - Understanding the User (WYSIWYG), Portals, Home Shopping, Mobile Data Services, Online Banking, Online Financial Services, Public Access (Kiosks & Cyber Café) and ISP/Broadband reports. The report has coverage of more than 25,000 Households in SEC A, B and C in the 26 cities of the country.

Telecom Report: This report would give a detailed analysis of the emerging telecom market in India and Symbiosis Institute of Telecom Management Pune - 16 28

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement would cover the trends in Basic Telephony (including WLL), Cellular (with a focus on the fourth operator) and Long Distance (including issues like Revenue estimation for the Long Distance Operators in the country, City to City traffic, etc.). The reports have coverage of more than 14,000 Business and Affluent Household respondents from 16 cities of the country. The reports are expected to be released by the end of February, 2002. In our tenure of internship we also had opportunity to have hands on live project of measuring current Mobile VAS market in India & its roadmap towards year 2010. It's really crucial to understand your target market before undertaking any marketing exercise, unless you don't mind risking your hard-earned money and precious time on activities that might not get you the results you want.

Simply put, ignoring market research before marketing is synonymous with firing a shot in a pitch dark room, and still hoping that the bullet hits the bull’s-eye.

Symbiosis Institute of Telecom Management Pune - 16

29

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

30

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

 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 Symbiosis Institute of Telecom Management Pune - 16 31

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 ITM institute for purpose of knowing about no. of courses, branches at ITM, 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

Symbiosis Institute of Telecom Management Pune - 16

32

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 Symbiosis Institute of Telecom Management Pune - 16 33

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement PERSON-ADMINISTERED: In this method interviewer reads questions, either face-toface 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 interviewerrespondent 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 Symbiosis Institute of Telecom Management Pune - 16 34

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement • • 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 Symbiosis Institute of Telecom Management Pune - 16 35

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 Symbiosis Institute of Telecom Management Pune - 16 36

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement • • 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.

Symbiosis Institute of Telecom Management Pune - 16

37

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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. Symbiosis Institute of Telecom Management Pune - 16 38

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

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 ITM, there were questions regarding perception of brand ITM in mind of students before deciding to take admission in ITM. We also measured the section wise satisfaction level of ITM student with ITM institute. Since we used mainly closed ended questions it helped us in analysis of data.

Symbiosis Institute of Telecom Management Pune - 16

39

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 Symbiosis Institute of Telecom Management Pune - 16 40

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 Shivaji Nagar. Symbiosis Institute of Telecom Management Pune - 16 41

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 70 – 75% from FC Road. 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.

Symbiosis Institute of Telecom Management Pune - 16

42

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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. Symbiosis Institute of Telecom Management Pune - 16 43

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

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.

Symbiosis Institute of Telecom Management Pune - 16

44

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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:

 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.

 Based on Logic • 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 Symbiosis Institute of Telecom Management Pune - 16 45

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 ITM brand we have divided the whole census into different samples. The complete population is subdivided using quota sampling method. We selected 74 MBA students at ITM, 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 ITM students from all over India, as ITM has its presence in many cities in India. In our case we have handled the quota of ITM 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.

Symbiosis Institute of Telecom Management Pune - 16

46

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

47

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

 Chapter 3 : Data Analysis and Interpretation We have gathered the data by interviewing the students of ITM 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 ITM. 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 Influenced

Did not influence

Symbiosis Institute of Telecom Management Pune - 16

48

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement
a lot Reputation/Brand image Academics/Course content Placement records Recognition by AICTE Course fee Infrastructure & Facilities Specialization Faculty profile Industry interface Starting salary level 14 7 17 7 11 3 14 4 10 9 somewhat 9 15 4 11 8 20 11 14 11 9

2 3 4 7 6 2 0 7 4 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 ITM B-school. The figures in the cells are representing the no. of responses from students for particular factor.

Influenced Information Source Parents &Other family member Friends/peers Seniors Professors Magazine rankings Advertisement in various media Websites/Blogs/Online forum Coaching center a lot 2 2 6 5 10 7 6 12

Influenced somewhat 8 13 6 6 13 5 8 9 Did not influence 15 10 13 14 2 13 11 4

Symbiosis Institute of Telecom Management Pune - 16

49

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Table no.2

It can be easily interpreted from above table that ranking of institute in magazines and coaching centers play an important role in admissions of students in B-school.

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

Symbiosis Institute of Telecom Management Pune - 16

50

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 Exceeded expectation Meets expectation Close to expectation Below expectation Well below expectation

A 1 11 9 4 0

B 1 13 8 3 0

C 7 9 7 1 1

D 2 11 7 4 1

E 4 9 7 5 0

F 4 12 7 1 1

G 4 10 9 2 0

H 4 9 7 3 2

I 2 13 7 2 1

J 1 13 7 3 1

Table no.3 Where: A B C D E F G H I J Reputation/Brand image Academics/Course content Placement records Recognition by AICTE Course fee Infrastructure & Facilities Specialization Faculty profile Industry interface 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: 1 Exceeded expectation 2 Meets expectation 3 Close to expectation Symbiosis Institute of Telecom Management Pune - 16 51

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 4 Below expectation 5 Well below expectation Figures on y axis are the no. of responses for particular expectation level. a) Reputation or brand of ITM:

12.00

10.00

8.00

A

6.00

4.00

2.00

0.00 1 2 3 4 5

RESPONSES Graph A The graph above shows that reputation and brand of ITM are meeting expectation level of students.

b) Academics and course content at ITM: Symbiosis Institute of Telecom Management Pune - 16 52

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

14.00

12.00

10.00

8.00

B
6.00 4.00 2.00 0.00 1 2 3 4 5

RESPONSES Graph B

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

Symbiosis Institute of Telecom Management Pune - 16

53

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

c) Placement records:

10.00

8.00

6.00

C
4.00 2.00 0.00 1 2 3 4 5

RESPONSES Graph C

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

Symbiosis Institute of Telecom Management Pune - 16

54

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement d) Recognition by AICTE:

12.00

10.00

8.00

D

6.00

4.00

2.00

0.00 1 2 3 4 5

RESPONSES Graph D

The graph above shows that approval from AICTE to ITM is meeting expectation level of students.

e) Course fees: Symbiosis Institute of Telecom Management Pune - 16 55

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

10.00

8.00

6.00

E
4.00 2.00 0.00 1 2 3 4 5

RESPONSES Graph E

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

f) Infrastructure & facilities: Symbiosis Institute of Telecom Management Pune - 16 56

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

12.00

10.00

8.00

6.00

F

4.00

2.00

0.00 1 2 3 4 5

RESPONSES Graph F

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

g) Specialisation: Symbiosis Institute of Telecom Management Pune - 16 57

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

10.00

8.00

6.00

G
4.00 2.00 0.00 1 2 3 4 5

RESPONSES Graph G

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

h) Faculty profile: Symbiosis Institute of Telecom Management Pune - 16 58

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

9.00

8.00

7.00

6.00

H
5.00 4.00 3.00 2.00 1 2 3 4 5

RESPONSES Graph H

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

i)

Industry interface: Symbiosis Institute of Telecom Management Pune - 16 59

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

14.00

12.00

10.00

8.00

I
6.00 4.00 2.00 0.00 1 2 3 4 5

RESPONSES Graph I

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

j) Starting salary level: Symbiosis Institute of Telecom Management Pune - 16 60

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

14.00

12.00

10.00

8.00

J
6.00 4.00 2.00 0.00 1 2 3 4 5

RESPONSES Graph J

The graph above shows that starting salary level after placement at ITM 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 ITM.

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.

Symbiosis Institute of Telecom Management Pune - 16

61

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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.

Symbiosis Institute of Telecom Management Pune - 16

62

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement
Extraction Sums of Squared Loadings % of Cumulative Total Variance % 9.152 91.518 91.518

Component 1 2 3 4 5 6 7 8 9 10

Initial Eigenvalues % of Cumulative Total Variance % 9.152 91.518 91.518 .556 5.557 97.075 .227 2.269 99.344 .066 .656 100.000 .000 .000 100.000 .000 .000 100.000 .000 .000 100.000 .000 .000 100.000 .000 .000 100.000 .000 .000 100.000

Table no. 5

Symbiosis Institute of Telecom Management Pune - 16

63

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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.

Scree Plot

10

8

6

u l a v n e g i E

4

2

0 1 2 3 4 5 6 7 8 9 10

Component Number

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 Symbiosis Institute of Telecom Management Pune - 16 64

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement factors in to one factor, so that one factor can conclude on investment decision in ITM B-school.

Factors A B C D E F G H I J

Factor ‘k’ 0.959728068 0.984343703 0.823522008 0.977722385 0.931736703 0.969497886 0.967241969 0.994004166 0.980092047 0.967190099

Weightage % 0.100441667 0.10301785 0.086186834 0.102324887 0.097512192 0.101464141 0.101228045 0.10402888 0.102572888 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
Weightage E.E. M.E. C.E. B.E. W.E.

A
0.1004 1 11 9 4 0

B
0.103 1 13 8 3 0

C
0.0862 7 9 7 1 1

D
0.1023 2 11 7 4 1

E
0.098 4 9 7 5 0

F
0.1015 4 12 7 1 1

G
0.1012 4 10 9 2 0

H
0.104 4 9 7 3 2

I
0.103 2 13 7 2 1

J
0.1012 1 13 7 3 1

Factor K
------3 11 7 3 1

Table no.7

Where; E.E.  Exceeded expectation M.E.  Meets expectation C.E.  Close to expectation Symbiosis Institute of Telecom Management Pune - 16 65

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement B.E.  Below expectation W.E.  Well below expectation Graph of the factor which is equivalent to all ten factors against responses is shown below.

12.00

10.00

8.00

K

6.00

4.00

2.00

0.00 1 2 3 4 5

RESPONSES

Graph K

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

Symbiosis Institute of Telecom Management Pune - 16

66

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

 Chapter 4 : Key Findings

Symbiosis Institute of Telecom Management Pune - 16

67

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement 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 ITM, 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 ITM 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 ITM according to its students.

Symbiosis Institute of Telecom Management Pune - 16

68

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

 Chapter 5 : Conclusion Symbiosis Institute of Telecom Management Pune - 16 69

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

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 ITM is a well known brand with good reputation in students and industry. As far as investment in ITM 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 ITM 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 ITM.

Symbiosis Institute of Telecom Management Pune - 16

70

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

 Chapter 6 : Recommendations
Symbiosis Institute of Telecom Management Pune - 16 71

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Further we have analysed areas where ITM 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 Reputation / Brand image Academics / Course content Placement records Recognition by AICTE Course fee Infrastructure & Facilities Specialization Faculty profile Industry interface Starting salary level

Responses 4 15 12 2 5 23 3 5 3 2

Table no.8

Symbiosis Institute of Telecom Management Pune - 16

72

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Following graph gives clear interpretation of areas where improvement is required according to ITM students.

Areas need improvement
25 20 15 No. of responses 10 5 0 M N O P Q R S T U V Fa ctors / Are a s

No. of responses

Graph no. 2 Where:

Factors Reputation / Brand image Academics / Course content Placement records Recognition by AICTE Course fee Infrastructure & Facilities Specialization Faculty profile Industry interface Starting salary level M N O P Q R S T U V

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. Symbiosis Institute of Telecom Management Pune - 16 73

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

As far as investment in ITM 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 ITM or not, and also to see what effects are generated on placement.

Symbiosis Institute of Telecom Management Pune - 16

74

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Customer Satisfaction Management & Measurement

Symbiosis Institute of Telecom Management Pune - 16

75

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement From the establishment itself vision of Avaya Global Connect Ltd. is to be recognized as the Most Customer Responsive Company & to provide the best in class Converged Communication Solutions Enabling Customer to enhance their business performance is the only mission. Avaya Global Connect is India’s leading provider of intelligent communications solutions, systems and services focused on meeting the needs of organizations large to small. The company offers a comprehensive suite of Solutions for Contact centre, Business Process Outsourcing and end-to-end Converged communications. By designing, building and managing some of the world’s most advanced communications solutions, Avaya is helping its customers achieve sustained advantage through superior business results. Avaya Global Connect is dedicated to helping businesses enhance and extend the capabilities of their people and processes to reduce costs, increase productivity and grow revenues. Avaya Intelligent Communications is at the very heart of the Avaya brand and what it stands for in the marketplace. Avaya Intelligent Communications is the critical differentiator that enables their clients to outdistance its competition. With Avaya Intelligent Communications, communications solutions are actually embedded in the client’s business processes to transform performance, thereby making the business more competitive. With a strong focus on Customer Responsiveness, Avaya Global Connect works towards anticipating customer requirements and providing them end-to-end solutions. Avaya Global Connect has a state-of-the-art lab in Gurgaon, deploying complete products and solutions. The latest products and solutions are demonstrated and Symbiosis Institute of Telecom Management Pune - 16 76

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement showcased to customers at this Lab, which is also used to train internal associates, business partners and customers. The company also has a world class ‘Customer Care Center’ in Gurgaon which is a first level contact to resolve customer complaints through a remote maintenance facility. Avaya Global Connect ‘s ‘Customer Studio’ in Mumbai is designed to provide customers with a first hand experience of the power of intelligent communications that Avaya Global Connect and its partners from around the world can bring to their businesses. The Customer Studio aims at helping customers make confident decisions about the choices they are making. The Avaya India Development Center located in Pune collaborates with Avaya Labs in the Asia Pacific and around the world for research and development in converged solutions, Customer Relationship Management and Unified Communications Solutions as well as consulting and integration services. This Center also houses Avaya Global Solutions Support Center.

Awards Symbiosis Institute of Telecom Management Pune - 16 77

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Avaya Global Connect bags the Voice&Data Top Enterprise Voice Solutions Company Award as per V&D100 2006 survey.

Frost & Sullivan in 2004 also awarded 7 leadership awards to Avaya GlobalConnect in the Interaction CRM category and Enterprise Voice Equipment category. These include –
• • • • • • •

Industry Leadership Award for the Interaction CRM Industry Leadership Award for the Enterprise Voice Market Leadership Award for PBX Market Leadership Award for IP Telephony Market Leadership Award for ACD Market Leadership Award for CTI Enabling Software Market Leadership Award for Call Monitoring Solutions

Continuing to dominate the Contact Center solutions space, the company was awarded the ‘Frost & Sullivan Market Engineering Award for Market Leadership in Interaction CRM Market’ in India.

Frost & Sullivan also honored the company with the ‘Market Strategy Award in Enterprise Voice Equipment Market’ for emerging as the strongest competitor with the best marketing strategies gaining stronger foothold in this business.

Communications Today identified Avaya GlobalConnect as the #1 market leader for Enterprise Voice Over IP solutions by revenue in the Indian market.

Frost & Sullivan awarded Avaya Global Connect four awards in the Enterprise Voice Equipment market-

Symbiosis Institute of Telecom Management Pune - 16

78

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Market Leadership Award 2002 for Total Enterprise Voice Equipment Market

• • • 

Market Leadership Award 2002 for PBX Market Successful Competitive Strategy Award 2002 for IP Telephony Systems Successful Competitive Strategy Award 2002 for KTS Market

With strength of around 800+ professionals, Avaya GlobalConnect has over 30 offices spread across the country, from Jammu to Trivandrum to Ahmedabad to Siliguri. The company has an extensive distribution network comprising over 50 systems integrators, channel partners and dealers. With over 6,000 customers, it provides world-class service support through a remote maintenance integration (RMI) system.

Customer Satisfaction Management and Measurement (CSMM): 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 thirdSymbiosis Institute of Telecom Management Pune - 16 79

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement party research, the customer-vendor relationship does not get affected. Hence Avaya Globle Connect Ltd. has come up with customer satisfaction research along with IMRB International’s independent & specialist unit Customer Satisfaction Management & Measurement (CSMM). Which is in the field of customer satisfaction research with proven methodologies & processes resulting in fruitful outcomes, later on will be helpful for customer satisfaction management as well as measurement so as to increase customer base and revenues, enhancing brand value, goodwill, etc. CSMM provides a range of consulting products and services to manage external customer satisfaction and employee commitment to integrate stakeholder measurement and management efforts into the company's decision-making process at all levels, with respect to various sectors including financial services, hotels, telecommunications, retailing, consumer products, automotive and engineering/industrial goods. CSMM provides strategic information services to enhance customer loyalty amongst both end customers and trade channel customers as well as to build employee commitment. CSMM gives us professional and accurate assistance for our strategic decisions, including deployment and integration assistance. In this particular research Avaya Globle Connect Ltd. has targeted all the C-level customers which are in a best position to understand the needs of their business. All C-level customers comprise of CEO, COO, CFO, CTO, Chief of IT Dept., etc. who are actually responsible for handling all the business transactions with respect to the various business areas. The research was based upon face to face interviews of the targeted respondents with respect to the key findings. The key customers were

Symbiosis Institute of Telecom Management Pune - 16

80

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement Vodafone, TTSL, Dautsche Bank, HDFC, RIL, Capgemini Consultancy services, Aditya Birla group, DSP Merrillynch, WNS Global Services, etc.

Symbiosis Institute of Telecom Management Pune - 16

81

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

82

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Key Findings:  Major Areas of business (EPABX, voice logger, IP telephony, call conferencing, etc.)  Key features of Avaya Globle Connect Ltd. products & services.  Areas of business Avaya Globle Connect Ltd. is providing best solutions.  Areas of business Avaya Globle Connect Ltd. should improve.  Customer Expectations from Avaya Globle Connect Ltd.  Areas of business Avaya Globle Connect Ltd. can expand their volume of business.  Efforts for customer relationship management Avaya Globle Connect Ltd. should take with respect to their products & services.

Symbiosis Institute of Telecom Management Pune - 16

83

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Recommendations: After interviewing all C – level persons of Avaya’s clients we have aroused at following recommendations:  Avaya must work on its time line for particular project i.e. no wastage of time.  They must concentrate on effective after sales customer support.  Avaya have to work on spare parts of its products.  More exploration of new service i.e. customer studio.  Try to be more innovative.

Symbiosis Institute of Telecom Management Pune - 16

84

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Conclusion: As Avaya Global Connect Ltd. always tries to continuously improve upon their responsiveness in all spheres of interaction, this project was our sincere effort to help Avaya 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 Avaya (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.

Symbiosis Institute of Telecom Management Pune - 16

85

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

86

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Abbreviations

ITM: Institute of Technology & Management FDI: Foreign Direct Investment IMRB: Indian Market Research Bureau JWT: J Walter Thompson WPP: Wire and Plastic Products MBI: Millward Brown International WIGN: Walker Information Global Network CSMM: Customer Satisfaction Management & Measurement RI: Research International 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

Symbiosis Institute of Telecom Management Pune - 16

87

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

Symbiosis Institute of Telecom Management Pune - 16

88

Brand Evaluation for Financial Investment & Customer Satisfaction Measurement

References:

 Secondary data sheets from IMRB International, Abacus Research, 3rd floor, Mhatre pen building, Dadar (w), Mumbai - 400028.

 Questionnaires by IMRB Research dept., 2nd floor, Mhatre pen building, Dadar (w), Mumbai – 400028.

 Marketing Research: Text and Cases, by Dr. RAJENDRA NARGUNDKAR.  www.imrbint.com  www.avayaglobalconnect.com  www.marketresearch.com

Symbiosis Institute of Telecom Management Pune - 16

89

Sign up to vote on this title
UsefulNot useful