INDIAN EDUCATION INDUSTRY

 India’s education and training sector offers private institutions an estimated US$ 40 bn market, with a potential 16% five-year CAGR.  More than 1,200 private engineering colleges, 300 business schools and more than 140 private medical colleges in India. • Represent a US$7bn market • Engineering takes the major share at US$5.85bn (or 83% of the total).

7 P’s OF EDUCATION INDUSTRY .

brand name of the educational institution etc. . PRICE: The price is the amount a student pays for the services availed by him or her. private or public ownership. infrastructure. facilities provided. location of the institute. mode of education. placement. the product means the students and the services means the intangible offers made by the educational institutions.PRODUCTS: In case of educational services. reputation of the institution. It is determined by a number of factors including competition. service quality.

it will provide much more competitive edge. . rather than all.• PLACE: Place represents the location where an educational institute is established. than if it is located in rural place. It is often referred to as the service centre. advertising and web-based marketing. As far as promotion tool is concerned. positive word-ofmouth communication has been found the best tool for them. So. PROMOTION: • Educational institute emphasizes mainly on two components of promotion viz. place is also a vital promotional tool for them. If the institute is located at a Metro city.

If the service process is hassle free. it will definitely make the institution with difference. Satisfaction and retention of the students solely depends on the way the teachers are in a position to deliver their best services to them. understandable. PROCESS: The procedures. . student friendly and technology based. simple. mechanisms and flow of activities which lead to an exchange of value are called the process.• PEOPLE Here. The way service providers render services to the students. plays a pivotal role in gaining the competitive advantages. the people mean teaching fraternity and nonteaching community directly and indirectly associated with the services rendered to the students.

parking facility. different modern teaching aid etc. . number of books and journals. total ambience. library. hostel.• PHYSICAL EVIDENCE: It is the direct sensory experience of a service that allows a student to measure whether he or she has received adequate facilities by the educational institution. It might include stateof-art technology. indoor stadium. gymnasium. building. transportation facility. play ground. AC class room facility. canteen. swimming pool. computer laboratory.

Gap 5: There are lot of differences between expectations of the students and their perceptions. Gap 2: Institutions are not having the desired service designs and standards to meet the requirements of the students. which is known as Customer Gap. .GAP IN EDUCATION INDUSTRY Gap 1: Educational institutions do not know the expectations of the students. Gap 4: They are not matching performance they are supposed to show and promises communicated to the students. Gap 3: Educational institutions are not delivering service standards as required to deliver.

MARKETING STRATEGIES USED .

Educational institutes needs to adopt the ‘student centric approaches’ to remain unbeaten in the turbulent market.e. To sell the products i. institutes should cultivate ‘professionalism’ and inculcate the same among their students. Educational services organizations ought to focus on building stronger network with the existing and prospective employers in the country and abroad.CONCLUSION Students are the backbone of an educational institute as well as a nation. can be very useful tool for promoting the present students and the institution as a whole. . society and culture become rich when the educational system is wellestablished. Student Relationship Management’ (SRM) i. They must ensure quality output from their institutions. relationship with the alumni.e. A country. students of the educational institute in the competitive market.

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