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The information technology industry or information technology
industries are industries that are information intensive in one way or the other. It is considered
one of the most important economic sectors for a variety of reasons.
There are many different kinds of information industries, and many different ways to
classify them. Although there is no standard or distinctively better way of organizing those
different views, the following section offers a review of what the term "information industry"
might entail, and why. Alternative conceptualizations are that of knowledge industry and
information-related occupation. The term "information industry" is mostly identified
with computer programming, system design, telecommunications, and others.
1. Produc !"d S## I"$or%!&'o"
ompanies which (roduc !"d )## '"$or%!&'o" in the form of goods or services. !edia
products such as television programs and movies, published books and periodicals would
constitute probably among the most accepted part of what information goods can be. "ome
information is provided not as a tangible commodity but as a service. onsulting is among the
least controversial of this kind. #owever, even for this category, disagreements can occur due to
the vagueness of the term "information." $or some, information is knowledge about a sub%ect,
something one can use to improve the performance of other activities&it does not include arts
and entertainments. $or others, information is something that is mentally processed and
consumed, either to improve other activities 'such as production( or for personal en%oyment) it
would include artists and architects. $or yet others, information may include anything that has to
do with sensation, and therefore information industries may include even such things as
restaurant, amusement parks, and prostitution to the e*tent that food, park ride, and se*ual
intercourse have to do with senses. In spite of the definitional problems, industries producing
information goods and services are called information industries.
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"ome services, such as legal services, banking, insurance, computer programming, data
processing, testing, and market research, re+uire intensive and intellectual processing of
information. Although those services do not necessarily provide information, they often offer
e*pertise in making decisions on behalf of clients. These kinds of service industries can be
regarded as an information-intensive part of various industries that is e*ternalized and
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Industries that are vital to the d'))%'"!&'o" o$ &. '"$or%!&'o" +ood) mentioned above.
$or e*ample, telephone, broadcasting and book retail industries do not produce much
information, but their core business is to disseminate information others produced. These
industries handle predominantly information and can be distinguished from wholesale or retail
industries in general. It is %ust a coincidence, one can argue, that some of those industries are
separately e*isting from the more obvious information-producing industries. $or e*ample, in the
,nited "tates, as well as some other countries, broadcasting stations produce very limited
amount of programs they broadcast. -ut this is not the only possible form of division of labor. If
legal, economic, cultural, and historical circumstances were different, the broadcasters would
have been the producers of their own programs. Therefore, in order to capture the information
related activities of the economy, it might be a good idea to include this type of industry. These
industries show how much of an economy is about information, as opposed to materials. It is
useful to differentiate production of valuable information from processing that information in a
sophisticated way, from the movement of information.
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There are %!"u$!c&urr) o$ '"$or%!&'o"0(roc))'"+ d,'c) that re+uire research and
sophisticated decision-making. These products are vital to information-processing activities of
above mentioned industries. The products include computers of various levels and many other
microelectronic devices, as well as software programs. .rinting and copying machines,
measurement and recording devices of various kinds, electronic or otherwise, are also in this
category. The role of these tools is to automate certain information-processing activities. The use
of some of these tools may be very simple 'as in the case of some printing(, and the processing
done by the tools may be very simple 'as in copying and some calculations( rather than
intellectual and sophisticated. In other words, the specialization of these industries in an
economy is neither production of information nor sophisticated decision-making. Instead, this
segment serves as an infrastructure for those activities, making production of information and
decision-making services will be a lot less efficient. In addition, these industries tend to be "high-
tech" or research intensive - trying to find more efficient ways to boost efficiency of information
production and sophisticated decision-making. $or e*ample, the function of a standard calculator
is +uite simple and it is easy to how to use it. #owever, manufacturing a well-functioning
standard calculator takes a lot of processes, far more than the task of calculation performed by
the users.
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There are ,r2 r)!rc.0'"&")', '"du)&r') that do not serve as infrastructure to
information-production or sophisticated decision-making. .harmaceutical, food-processing,
some apparel design, and some other "high-tech" industries belong to this type. These products
are not e*clusively for information production or sophisticated decision-making, although many
are helpful. "ome services, such as medical e*amination are in this category as well. /ne can say
these industries involve a great deal of sophisticated decision-making, although that part is
combined with manufacturing or "non-informational" activities.
3. I"$r!)&ruc&ur $or I"$or%!&'o" Produc&'o" !"d So(.')&'c!&d Dc')'o"0M!4'"+
$inally, there are industries that are not research intensive, but serve
as '"$r!)&ruc&ur $or '"$or%!&'o" (roduc&'o" !"d )o(.')&'c!&d dc')'o"0%!4'"+.
!anufacturing of office furniture would be a good e*ample, although it sometimes involves
research in ergonomics and development of new materials.
As stated above, this list of candidates for information industries is not a definitive way
of organizing differences that researchers may pay attention to when they define the term.
Among the difficulties is, for e*ample, the position of advertising industry.
Information industries are considered important for several reasons. 0ven among the
e*perts who think information industries are important, disagreements may e*ist regarding which
reason to accept and which to re%ect.
$irst, information industries are a rapidly growing part of economy. The demand for
information goods and services from consumers is increasing. In case of consumers, media
including music and motion picture, personal computers, video game-related industries, are
among the information industries. In case of businesses, information industries include computer
programming, system design, so-called $I10 'finance, insurance, and real estate( industries,
telecommunications, and others. 2hen demand for these industries are growing nationally or
internationally, that creates an opportunity for an urban, regional, or national economy to grow
rapidly by specializing on these sectors.
"econd, information industries are considered to boost innovation and productivity of
other industries. An economy with a strong information industry might be a more competitive
one than others, other factors being e+ual.
Third, some believe that the effect of the changing economic structure 'or composition of
industries within an economy( is related to the broader social change. As information becomes
the central part of our economic activities we evolve into an "information society", with an
increased role of mass media, digital technologies, and other mediated information in our daily
life, leisure activities, social life, work, politics, education, art, and many other aspects of society.
The Indian "oftware Industry is the uncrowned king in the outsourcing of software
services now. 3espite the current recession, which was always in the offing, once the boom got
going, most software companies are facing the crisis head-on. They have shifted emphasis to off-
shore pro%ects since the on-site software development has virtually come to a standstill. They
have started to scout for newer markets, improve on the per capita efficiency, concentrate on
future technologies, and revamp their organizational and marketing structure. In short the
companies that are taking the slowdown as an opportunity to reorient them in the new scenario
are creating the foundation for a long innings in the IT sector while those that are wary about
taking the hard steps will soon find the going tough.
$rom very humble beginnings, the Indian IT Industry has grown at an e*ponential rate
over the past 45 years doing 1s.45555 crore of e*port, fetching for India valuable foreign
e*change, propping up the Indian "tock !arket with its share prices reaching dizzying heights
before the scam, and employing over 6 lakh professionals with this number poised to rise to
around 65 lakh in another 7 years. India missed the Agrarian, Industrial and the early omputer
1evolutions but became a global player in the IT revolution because of two main factors-opening
up of the markets and India8s cheap and vast manpower with knowledge of 0nglish. 1ight from
4994 to 6555 Indian companies grew at a mind-boggling rate of 655-:55; attracting lucrative
pro%ects from companies all over the world, especially the ,". The recession that we see now is
partly attributed to this phenomenal growth rate which to be maintained, was always going to be
a tough proposition. The initial spark that triggered the recession was the slowdown in the
American manufacturing industry , then aggravated by the collapse of 3otcom companies and
then the last nail in the coffin was the sudden discovery that most companies did not have any
more pro%ects to hand out. In other words, most companies did not need any ma%or software
2ith the recession, most companies have drastically revised their organizational and
marketing strategies. The share of onsite work has come down as most foreign companies prefer
to sustain as much of their own employees rather than outsiders. ompanies in India have now
shifted gears doing off-shore development which is much cheaper. They have started looking at
the 0uropean and <apanese markets which have not yet been affected by the slowdown. /ther
markets which they are tentatively eyeing are the Australian, "outh American and !iddle 0ast
markets. !ost companies have decided to tide over the problem of reduced profits by resorting
to layoffs and cutting down heavily on fresh recruitment. These are measures to bring down the
numbers on the bench which have been increasing for some time now. The focus on web centric
software development which used to be their prime revenue earner is a thing of the past and
these companies are concentrating now on the banking and the governance sectors. 0ven the
high flying companies are doing the low grade maintenance work for their clients to create good
relationships in the hope of getting a big pro%ect from them sometime in the future.
3espite the bravado that most software companies still put up it remains to be seen how
many of the smaller ones can survive, if the recession doesnt end soon. $ly by night operators
who wanted to make a +uick buck from the high ratings software companies get in the stock
market along with poor +uality of support which Indian companies provide are destroying the
credibility of the industry. !oreover the hinese and the 1ussians have begun warming up to the
act. Their governments are aggressively promoting software training and hinese professionals
come cheaper at =7555->555 per year compared to an Indian professional who earns on the
average about =?555 per year. Another challenge that Indian companies are facing is that most
corporations prefer to keep the most lucrative pro%ects for their employees and leaving the
crumbs for the Indians to brush up.
-ut the future seems to be ours-that is if we are careful. /ur companies are able to
provide the right training and have been able to continuously improve their knowledge base.
They have used the new technologies effectively winning customer satisfaction and we have
something the hinese and 1ussians do not have-the e*perience in dealing with foreign
customers who are very +uality conscious. The recession is on its way out. The markets are
looking up. The hype of yore will be a distant memory. To be realistic the software industry is
going to stabilize at this point but opportunities will beckon soon. The weeding out is getting
over. The dot comers and @6Aers have to swallow the bitter pill. The bottom line is they are not
needed by the software industry any more. -ut for the others like u and me, the future is rosy,
albeit a bit hazy, right now.
The IT industry has great scope for people as it provides employment to technical and
non-technical graduates and has the capability to generate huge foreign e*change inflow for
India. India e*ports softwareBs and services to appro*imately 9: countries in the world.
-y outsourcing to India, many countries get benefits in terms of labor costs and business
processes. Also, the Indian companies are broadening the range of services being provided to the
customers, which is resulting in more off shoring. Talent ac+uisition, development and retention
initiatives taken by the companies have brought down the employee attrition rates, thereby
providing more stability to the employees and increasing their %ob commitment.
!any financial institutions are providing funds for the e*pansion of IT and IT0" businesses. In
order to support IT and IT0", the Indian Covernment is also taking many steps. $or e*ampleD
1. The Covt. has provided incentives including ta* holiday up to 6545 and competitive duty
*. The Covt. is trying to reduce the international communication cost.
-. It is providing infrastructure support through organizations such as software technology
parks. All these factors collectively create a number of opportunities in the IT sector.
!arketing is "the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large."
$or business to consumer marketing it is "the process by which companies create value
for customers and build strong customer relationships, in order to capture value from customers
in return". $or business to business marketing it is creating value, solutions, and relationships
either short term or long term with a company or brand. It generates the strategy that underlies
sales techni+ues, business communication, and business developments. It is an integrated process
through which companies build strong customer relationships and create value for their
customers and for themselves.
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.roperly positioning your software product and developing a software marketing plan is
becoming increasingly challenging for traditional software vendors in today8s service-oriented
marketplace. !arketing a plan should be developed as early as possible in the software planning
process, and certainly well before the software launched.
This is especially true in the challenges of the slow software market driven by the current
economic issues. To survive in slow economic times, it is important to adopt specific strategies
formarketing in a recession.
$ollow the tips below to ensure to have the best marketing plan possible. And also check
out these key steps for planning the software launch. This is for a software-as-a-service provider,
make sure to follow these guidelines for "aa" marketing.
"tarting with a template is always a smart idea 'after all, who wants to reinvent the
wheel( so take a look at our new "oftware !arketing .lan Template designed specifically for
software companies.
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Civen the changes happening in the software industry, it is worthwhile to do a thorough
market analysis to understand the current state of the softwareEservices industry and your specific
niche in it. 3o you target a specific vertical industry, or a horizontal segmentF 2hat is your
target market, who are our target customers within that market, and what is your specific value
proposition 'conciseG( for themF
Identify your competition by software product or service as well as by market segment.
Assess their strengths and weaknesses. 3etermine how important your target market is to your
competitors. Identify any barriers which may hinder you. Include not only your e*isting
competition, but also potential competitors or changes threatening your customer base from the
services space. $or e*ample, is "oftware-as-a-"ervice '"aa"( a threat to your current software
business model, or perhaps IT outsourcing trendsF
3eveloping a strong marketing strategy does not need to be a daunting task. $ollow these
three easy steps to refine our marketing strategy for today8s software business challenges.
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-efore you even think about developing or refining your software marketing plan, it is
imperative to ensure that we have properly planned your business model and product strategy to
win in today8s marketplace. This of the five possible software business models best fit your
product and your customersB needs
• "ingle "oftware Hicense
• !enu of omponent-Hevel "oftware Hicenses
• "ubscription Hicense
• "oftware-as-a-"ervice '"aa"(
• ustom "oftware onsulting
/r, of course, you could choose a combination of these to meet different markets or different
customer re+uirements or e*pand your reach within a single customer base.
<ust make sure that our low-cost products or services don8t start cannibalizing any
e*isting revenue or customers of your higher-end software license 'unless of course you have a
competitor who is already doing so(. To do this, you must ensure your pricing strategies will
minimize any channel conflict, and you should develop detailed target customer profiles for each
product or service 'do not make the mistake of assuming they are all the same(.
/. Focu) &. M))!+)
!arketing messages must be focused and directed to your specific target customer. 2hat
are the companyBs and the productBs biggest strength 'in the eyes of the target customer, of
course( and main advantage against your competitionF That is your value proposition. Aeep it
simple. we should be able to communicate it without even a momentBs thought, and it must be
communicated convincingly and with passionG If you donBt believe it, then you wonBt be able to
make your customer believe it.
hoose an easy-to-use 1/I methodology that incorporates all customer benefits, both
tangible and intangible where possible.
1. K( T.!& So$&6!r M!r4&'"+ P#!" Focu)d
Identifying a niche and the target customers, and got a solid business model and
pricingElicensing strategy. If it is a small software company, or a micro-I"I, make sure have
identified the resources you need for running a small business.
/ne key thing to remember for your software marketing plan is to keep it focused. 3on8t
try every possible medium or mechanism to find or reach out to potential customers. In the best
case, you8ll only swamp yourself with leads that don8t turn into actual business.
-ased on the answers to these +uestions, we can put together your specific offline
marketing tactics and your web software marketing tactics to reach out to potential clients in the
most cost-effective way. $inally, check out this article with the results of a survey of -6-
technical buyers, and what that implies for your -6- internet marketing strategy.
The critical element of your marketing plan is that every strategy and tactic should align
with our key value proposition. 2e should be reaching out to target customers who can realize
that value. @ou should be communicating in a way that always reinforces our value proposition.
If we stay focused on that goal, we will be able to put together a winning software marketing
plan that will properly position and grow our business. These /ffice 1eady and Templates
provide the starting point to put together a strong marketing plan, together with spreadsheets and
tools to properly plan your software marketing efforts.
There is also relevant software marketing plan sections in our business plan template. In
addition, we offer a fi*ed price consulting service to review and provide written input on your
software marketing plan and strategy or your software launch plans.
This is for a web developer that sells software online) here are the basic software
marketing methods that will help to boost your sales. This brings the winning combination that
will bring the more buyers.
1. Co"&'"uou) S!rc. E"+'" O(&'%'9!&'o"
!aintaining a high ranking in the most important search engines is a never ending struggle, as
you need to follow certain rules AJ3 continuously update and optimize your website. $ocus onD
• improving your link popularity
• adding fresh content
• monitoring website results
• testing various keywords
• "pending time in improving the design and the usability of your website.
,nless you turn to professional "0/ help, you shouldn8t establish your software marketing
strategy e*clusively on this method. $or higher results, combine it with other methods, such as
those presented below.
*. Su:%'& 2our ).!r6!r &o )o$&6!r do6"#o!d )'&) !"d d'rc&or')
.romote your software by submitting it to as many download sites and directories as
possible. reate a good .A3 '.ortable Application 3escription( file, as this will ease the entire
submission process and webmasters will appreciate it, too. .ay attention to the traffic you get
from these sites and invest time in those who really bring you customers. /ne of the main
advantages of submitting your software to download sites is obtaining more back-links and
increased link popularity, which enhance your website8s page ranking and position in the main
search engines. It is one of the most important software marketing techni+ues, that also helps you
increase your traffic and from that your internet software sales, so don8t neglect it. If you find it
too time consuming, ask for professional help.
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There is a vast network of affiliates on the internet. Affiliates are people who will
promote and sell your software products from their websites, in return of a small commission for
every sale. 2hy should you try to market software using this methodF -ecause you pay your
affiliates on result. The compensation may be made based on a certain value for each visit '.ay
per click(, registrant '.ay per lead(, or a commission for each customer or sale '.ay per "ale(, or
any combination. There is a wide range of affiliates and methods of promoting your software
products. hoose those who have websites that have been specially designed to sell software
/. P!2 (r C#'c4 c!%(!'+")
Important search engines place ads near search results in return of a small amount. It is
called pay per click advertising. The idea behind this marketing techni+ue is to bid for relevant
"keywords" that bring pertinent results related to the product you8re selling, and place your
advertisement on the top of the page. The most important players on this market are Coogle Ad
2ords and @ahooG "earch. The method has its fans but also its fierce opponents, due to the
possibility of click fraud.
1. Wr'& "6)#&&r) !"d (r)) r#!))
A newsletter is an easy way to stay in touch with your clients, prospects and affiliates.
The success of an e-mail newsletter distribution system depends on your databaseD you need to
keep it up to date and accurate. @ou can target your e-mail campaign to clients and prospects or
to affiliates. oncentrate on creating different campaigns for each segment that you target.
Always ask permission to stay in touch with your clients and your affiliates. Het them know what
to e*pect from your newsletters regarding content and fre+uency and respect the standards that
you have established. Aeep focused on the substance of the email - make it original and
appealing. /ffer the chance to unsubscribe from the newsletter in a very visible place. @ou can
also take advantage of many websites that offer public relation services including free publishing
of press releases. /f course you can always choose the classical way and publish your materials
regarding product launches or news related to your company, in newspapers or software
magazines. 3on8t overdo it though, because people might get bored with too fre+uent
information and loose interest in your software products.
3. G& '",o#,d '" o"#'" $oru%) !"d :#o+)
It is basically free publicity. Invest time in subscribing to forums or discussions groups
that deal with software related themes. -e careful though, some administrators might ban you for
e*plicit publicity. "o be creative. !any people visit forums and blogs in search of information. A
blog post that deals with the theme under discussion, contains relevant information and is
presented in a professional way could be of real interest to the participants. Cive your website8s
address, the product8s name and possibly your .A3 file location. ,se a signature and not a
nickname, and you can also add a slogan related to the software product you want to promote.
;. Wr'& !"d )u:%'& !r&'c#)
There are many e-zines and online publications on the internet where you can publish
software related articles. This is an easy way to get free e*posure and consolidate your image as
a professional in your domain. A good article has to look professional. The golden rule is to
come up with a catchy headline and pay special attention to the content. Avoid duplicating
information found on the internet. @our article must be simple, meaningful and original. Aeep a
professional tone and avoid self-promotion. "ign the articles) add your contact information and a
copyright note at the end of the editorial. Also include a line with your website8s address for
those who might be interested in the sub%ect that you presented and would like to find out more
about your work.
!arketing strategies for product software assist software firms to determine the type
of market analysis that is needed for decision-making.
Two general strategies that are well known in the marketing discipline areD
 marketing mi*
 1elationship marketing.
"!arketing mi*" is the typical strategy for traditional mass marketers of product software
in competitive markets. "tructured market research, and agility in reacting to sales, are
characteristic of their product development process <Alajoutsijarvi et al.5 *===>. An e*ample
would be 0lectronic Arts, with their various home computer software games, which are
advertised on television and sold in many electronic stores.
"1elationship marketing", 'closely associated to 1!(, is used by product software
companies who focus on long-term customer relationships <Alajoutsijarvi et al.5 *===>. An
e*ample of this is "A., which offers enterprise resource planning systems, along with support
'since the software is complicated to install(. !aintaining customer relationships helps sell
additional modules and future upgrades.
-roethers and van8t Aruis e*plain two other strategies that are important to the growth of
software firmsD
 a service-based strategy) and
 a different marketing channels strategy.
Information about customer preferences, observations of customer reactions, and
knowledge of past mistakes are important for the "service-based strategy". "3ifferent marketing
channels strategy" tries to discover non-traditional marketing channels to help increase
distribution of software products to other target markets that take advantage of positional
differences. "Alliance-based strategies", on the other hand, are helpful at providing knowledge
e*changes, opening previously inaccessible markets 'such as e*port markets(, and an overall
larger market access '499K(.
-esides helping with current strategies, market analysis can improve future planning and
growth strategies that are helpful in product road mapping decisions. It also helps discover areas
where "complementary product development" and "diversification strategies" can be
profitable. omplementary goods can be in the form of other software products, hardware, or
services, such as consultancy, user training, and customization <Rao & Klein5 1??/>. The
development of these goods increases the opportunities for companies in the software market
<Sengupta5 1??@>. 0ven complementary products from other vendors can lead to an increase in
the value of the original product, while reducing the time to market <Messerschmitt & Sypers!i5
The complementary product strategy adds value by showing innovation, and creates
a multiplier effect on the original product <Sengupta5 1??@>. Investing in other products and
services aids in diversification, which can increase the overall customer base, and helps decrease
the risks of being overly specialized <Rao & Klein5 1??/>. 3iversification can, therefore,
increase the financial health of the company. An e*ample of this is !icrosoft, which has
increased the sales of its primary operating system software by offering products, such as word
processing, and player software.
• urrent approach of point solutions, individual specialist systems that are disconnected
and lack coordination are inade+uate for business needs
• Clobally best practice re+uires greater integration of systems into a single enterprise
• ,sing computer modeling to test strategies before implementing them, pre-empting
problems and fine tuning the strategy to ma*imize return
• 3uplicate entries across different systems
• ,navailability of real-time data for better decision making
• ompliance to international and local regulations.
AAH" Information "ystems Htd is an established "oftware .roducts L "ervices
organization in -angalore, with a successful, International, .an-Asian e*perience in "oftware
3evelopment L Technology "ervices.
2e offer uni+ue range of "oftware 3evelopment, Transition and !igration "olutions to
help large end-user organizations meet a variety of challenges. 2e have got a 4: year successful
track record in servicing industries such as $inancial "ervices, Covernment, Telecom, "ecurity,
and !anufacturing L 3istribution.
• Hife Insurance $ront-/ffice and -ack-/ffice "olutions
• Ceneral Insurance $ront-/ffice "olutions
• 3ocument !anagement L Imaging "ystems
• M"hineN 01. for !etal !anufacturing Industry
• 2orkflow based Application .rocessing "ystems
0*pertise in
• 3esign L 3evelopment of 1! L 2orkflow Applications
• 3esign L 3evelopment of 3ocument !anagement L Imaging solutions
• 3esign L 3evelopment of !obile Applications on Android and i/" platform
• 3esign L 3evelopment of -usiness Intelligence, 3ata !ining L 3ata 2arehousing
• 3ata Integration, 3ata !igration L 3ata !anagement
• Transition !anagement "ervices
• !igration "ervices
• Application !aintenance "ervices
• Technology !entoring "ervices
• onducting $inishing "chool .rograms for olleges E ,niversities
• "oftware Application 3evelopment on a Turnkey basis
• IT 1oadmap E Technology onsulting
3ac>cast provides a strategic planning, compliance, forecasting and financial reporting
system to support retail banking institutions to manage their regulatory burdens and to deliver
effective business strategy.
Today8s financial institutions face unprecedented regulatory comple*ity as a result of
-asel II, "arbanes-/*ley and other compliance standards. As a result, organizations are
drowning in spreadsheets and silos of data and face a high level of inefficiency in administrating
the information re+uired for decision making. As re+uirements get more comple*, organizations
hit a wall with spreadsheets. 3ac>cast develops systems, built on the ,niIerse multivalue
database, that not only make it easier to manage data but to take advantage of the relevant
information to make good business decisions and reduce negative outcomes.
1. Pr,"&'"+ '"$or%!&'o" o,r#o!d
3ac>castBs strategic financial modeling and governance system helps financial
institutions keep on top of the growing comple*ity of compliance, governance, risk and strategic
planning. .rior to deploying 3ataIu the company had been frustrated in its ability to deliver the
level of dynamic dashboards that it wanted to provide its clients due to the constraints and
limitations of most business intelligence tools on the market. 3ac>cast found that these tools
re+uired specialists to put considerable work into developing
a "static sand bo*" that end users could use. 3ue to the comple*ity, innovation and rapidly
changing environment that 3ac>cast8s banking customers faced, a static structure was not a
viable model O the organization re+uired an environment that was reactive, adaptive and could be
driven by the application.
*. S!, &'%5 )!, %o"2
"$or 3ac>cast as an application developer, 1ocket "oftware helps us to keep our
development and support costs down," <ordan says. "2e are able to provide a level of -I for our
clients that match and e*ceed what others have on the market without our competitorsB costs. The
company is using 3ataIu to present strategic and risk information to decision makers through a
range of visual dashboards. 3acono8s -oard 1eporting module allows directors to use tablets
such as I.ad6 and Android devices to read and review documents in board meetings.
I"&+r!&d R+u#!&or2 Fr!%6or4
• Automates A.1A 1egulatory 1eporting to free up time and people resources
• !erge A.Is, apital .lanning, Hi+uidity .lanning and regulatory reporting into one
• .roduce A.1A Puarterly detail on a monthly basis for forecasts, budgets and scenarios.
• !inimize Audit costs
• 1educe the escalating compliance costs in your business
• onfidence of accuracy in regulatory returns
M'&'+!& R')4 7 Error
• Jo more spread sheet risk from misleading information
• 1educe errors from manual processing
• "atisfy Auditors that information cannot be manipulate by intent or error
• "atisfy audit, regulatory and governance re+uirements of security, controls L trails
• !inimize misleading A.Is as the result of error, omission and comple*ity
F'"!"c'!# D!&! W!r.ou)
• /ne place for informationD "top looking through spread sheets and volumes of reports for
critical information.
• /vercome frustration of getting financial information out of operational systems.
• "tore information in financial reporting time frames not marketing and operational
• Ability to easily compare history, forecasts and scenarios
• 1educe cost of compiling information
• 1educe management time for looking for Information
Sc"!r'o) C R!#'9 S&r!&+') '" do##!r &r%)
• Ability to stress test worst case scenarios to satisfy 1egulatory demands
• Ability to test profitability and risk of new business plans and products to improve profits
• Ability to test multiple repricing strategies to ma*imize margins Includes multiple year
• Automatically flows on to capital and li+uidity plans to substantiate business plans
• !a*imize profitability and minimize risk of strategies
• !akes strategic planning affordable and practical while minimizing effort.
Ro##'"+ Forc!)&) Cr!# u( &o d!& (#!")
• $orecasts updated fre+uently with latest business plans where budgets get out of date
• $orecasts updated by latest actual to reflect realistic up to date e*pectations
• 1eporting showing Actual and $orecasts against fi*ed -udgets to measure performance
• 1olling $orecasts for apital .lans and Hi+uidity .lans to assess ongoing business impact
• ut the cost and effort of manual revised budgeting and reporting.
I"&+r!& %u#&'(# )(c'!#'9d )2)&%) '"&o o" "&r(r')
• ut duplication and increase productivity
• onsistency in reporting and planning. Jo more conflicting assumptions from different
specialist systems and their independent methodologies.
• ut the time wasted searching for and compiling information
• onfidence that something is not missed or forgotten that could have a disastrous
1amification to a business strategy
ED&"d P#!""'"+ .or'9o")
• 0*tend forecasts out to : years in less time than it takes to do traditional budgeting
• Automatically create 7 to 45 year capital plans and li+uidity plans improving productivity
• Assess business plans beyond %ust a 46 month budget
• 1educe management time for looking for Information
Au&o%!& R(or&'"+ Proc)))
• ut the growing cost of compiling information and reports
• 1elease e*pensive skilled staff to do more productive and profitable work
• 1educe !anual 0rror
• Aggressively cut reporting time frames
• !inimize key people risk
D'+'&!# Bo!rd R(or&'"+
• /vercome constraints of paper
• 1educe cost and time of compiling -oard .apers
• .revent directors being clouded by information clutter whilst meeting 3irectors due
diligence obligations
• .rovide informative strategic planning.
1. E"d &o E"d So#u&'o"
• 3ac>cast is a comprehensive "end to end" enterprise solution tailored for co-operatives
that demonstrates best practice in strategic planning, rigor, governance and regulation to
give key stake holders such as $inancial 1egulators and $und !anagers certainty of
business robustness.
• urrent approach of point solutions, individual specialist systems that are disconnected
and lack coordination are inade+uate for business needs.
• Clobally best practice re+uires greater integration of systems into a single enterprise
• 3ac>cast scenario modeling provides stress testing of funding to meet A.1A
e*pectations of managing volatility and modeling to achieve best wholesale pricing
• ,sing computer modeling to test strategies before implementing them, pre-empting
problems and fine tuning the strategy to ma*imize return.
*. O" )&o( )o#u&'o"
• 1eplace multiple disconnected systems with a single enterprise system the does
management reporting, regulatory returns, strategic planning and board reporting in one
• 1educe work from duplication and 1educe error
• Avoid missing critical issues that could undermine the business
• Civing managers and boardBs confidence in a comple* environment.
-. T.2 do"E& dr', ! c!r #oo4'"+ '" &. r!r ,'6 %'rror5 do"E& dr', &.'r :u)'")) '" !
• Interactive and dynamic forecasting
• 7-45 year business planning
• A.Is measuring forecasts, not %ust history
• Integrating forecasts into strategy plans, capital plans, li+uidity plans.
/. M!"!+'"+ co%(#D'&2
• .urposely built for co-operative banking
• ,nderstand banking regulation
• 3ashboards and templates to accelerate implementation.
1. So(.')&'c!&d )2)&%) (r'cd $or co0o(r!&', :!"4'"+
Bo!rd o$ D'rc&or)
• "hortened reporting timeframes O identify problems earlier so that they can take early
and proactive action to resolve them.
• onfidence in the accuracy and integrity of financial reports
• 1egulators concerned with material misreporting due to comple*ity and manual
intensive processes demanding more accurate processes.
• ,nderstand institutions ability to withstand market shocks with a resilient and robust
business plans that have been stress tested.
• onfidence in decision making. "cenarios proving business plans robustness assist in
supporting sound decision making.
C.'$ EDcu&', O$$'cr
• onfidence that information has not been missed in a business strategy that could have
disastrous ramifications.
• -eing able to demonstrate resilience and robustness to fund managers, credit rating
organizations and other stake holders.
• #elp to get funding and reduce the cost of funding
• 1educe the cost of borrowings and increasing profitability
• Ability to demonstrate to regulators risk management and compliance
• Assist to keep down regulatory set minimum capital re+uirements.
• 1educe the prospect of fraud, automated reporting harder to manipulate than manual
reports. 1edirect e*pensive staff into generating revenue instead of being glorified data
entry operators for spread sheet systems.
• 3elivering timely and potent information that they can use to run the business
C.'$ F'"!"c'!# O$$'cr
• $ocus on strategy not being bogged down compiling reports enabling a better decision
making process.
• -eing able to respond +uickly to stakeholders needs
• Improve audit process and compliance.
• $inancial !anagers
• 0nabled to provide audit processes and dynamic information to 0/, $/ and -oard.
• #ave more time to analyze, investigate and recommend to improve productivity and
profitability !arketing
• Ability to substantiate and +uantify marketing plans to board and management to
improve adoption.
• To apply rigor against business plans to ensure that they are robust enough to cater for
a range of circumstances.
• Improving the 1/I of business plans by fine tuning them through system modeling.
R')4 M!"!+%"&
• Puantifying risk to better mitigate risk
• oordinated enterprise system consolidates the processes that have to be managed for
risk. The simpler the process the lower the risk.
1. Bu)'")) I"&##'+"c )2)&%) )uc. !) Co+"o)5 M'cro)o$& A"!#2)') )r,'c)
• -I is a presentation layer. It costs =455kQ in consulting services to provide the source
data. 3ac>cast strong in developing a data warehouse that these tools do not cater for.
• omple*ityD -I tools use macros for manipulating data that cannot handle the level of
comple*ity that 3ac>cast handles.
• -I sources data from operational systems that only provides historical data. M1ear view
mirrorN to the business. 3ac>cast does forecasting and forward strategy reporting
providing decision makers information to pre-empt problems.
*. S(r!d S.&)
• "pread sheet risk. ,niversity of #onolulu identified an average of 95; of corporate
spread sheets had errors. '3ac>cast automation reduces errors(
• /ne cannot see who made what changes when and why in a spread sheet. 3ac>cast has
built in controls and audit trails.
• omple*ityD "pread sheet macros cannot handle the depth and level of comple*ity that
3ac>cast can.
-. Po'"& So#u&'o")
• #ave numerous specialist applications that are disconnected from each other.
• ,nproductive in duplicating inputs into all systems.
• Hack of consistency in assumptions and algorithms due to different products from
different vendors.
• 3ac>cast provides an end to end solution that integrates and coordinates multiple
specialist needs into one seamless system.
Information technology is one of the fastest spreading technologies in the world in terms
of its usage and production. The Information technology is a very broad term, which is used for a
host of technologies such as hardware and software technologies. The pro%ect is based on the
study of understanding the market needs for a new product development. It is worthwhile to
e*amine the key issues for IT sector such as operational, software development and marketing so
as to make comprehensive recommendations that can further accelerate the growth of this
industry. /ne of the most challenging things in the software technology is problems arising from
the applications. The present study is about understanding the needs for a new product
particularly for ooperative -anks.
The ob%ectives of the study is been classified into primary ob%ective and secondary
Pr'%!r2 o:Gc&',B
To identify the market needs for launching a new software product B3ac>castB.
Sco"d!r2 O:Gc&',)B
4. To identify whether the 3ac>cast is suitable for present market.
6. To analyze the standards of the similar competitive products currently prevailing in the
7. To identify the customer perception about this application software.
>. To suggest some improvement strategies based on the market analysis.
"tudying the needs of the market before the launch of 3ac>cast product enables us to
identify potential customers and to do niche marketing and skim the price in India if re+uired. To
conclude the study will enable to reduce market cost and reach potential customers in India at no
loss of time and with higher efficiency. #ence possibility of more "ales at the end.
• The study is based on the market needs and preferences of the customers. It will not
remain static for a very long time.
• The survey was about in 3ac>cast product only.
W.'&&!4r !"d Vo!)5 *==*5 users of software solutions have been suffering from poor
solution +uality for decades. K!r+ !"d Bc4.!u)5 *==;5 the understanding of software +uality
has gone through different phases proposing different approaches for coping with the challenge
of low +uality and high +uality-related costs.
I!" Gou#d'"+ "tates that the emergence of a formalized new product development can be
attributed to the needs of companies in the capitalist system for maintaining a competitive
advantage in their operating markets. 3escribes the process as one of innovation defined as) the
technical, industrial and commercial steps that lead to the marketing of new manufactured
products8. -elies the comple*ity of the functionDB to describe new product development as
difficult is probably a mammoth understatement8. Intends to illuminate the theory and practice of
this process. oncludes that a fle*ible approach and an open mind are the most important
re+uirements for successful application.
C.r2# N!4!&! 7 K. S',!4u%!r attempt to provide an understanding of this
relationship in terms of the links between new product developments on the one hand and the
five dimensions of national culture-individualism, power distance, masculinity, uncertainty
avoidance, and onfucian dynamic-on the other. They advance several propositions for
additional research, develop a conceptual model, and identify directions for further e*ploration
of the relationship.
W.&&" 1??- The decision perspective also seems to provide a description of product
development that is both comprehensive and parsimonious, perhaps because it cuts across the
functional perspectives without getting involved in the functional details of how the decisions are
1esearchers have argued that integration of 1L3 and marketing functions is one of the
key issues to consider for having a successful product or service <B!rc9!45 1??1H Gu(&!5 1?@1H
Soudr5 1?@@>. #owever, the integration of functions has not been seen as the only re+uired
solution, only a part of the whole.
In information systems 'I"(, researchers have struggled to solve the problems of
developing software to serve members of the organization. Hately, the attention has turned to end
users and other e*ternal end-users of information systems products or services <Tuu"!""5
*==->. The research has focused on the areas of process improvement, selection of right
techni+ues, and during the last decade involving better information management in the network
that brings the voice of customers to the process. 0specially, an incremental approach of
developing software and continuously involving the market and customer information to the
process has been argued to be the most effective <Bo.%5 1?@@>.
W'##'!%)o" <1?;1> argued that market failure is the source of transaction cost. -ecause
of asset specificity and bounded rationality certain transactions have to be e*ecuted away from
market. This is the beginning of organization. Transaction cost is the cost incurred for avoiding
Aror! <*==1> observed that although the software sector is human capital intensive, the
Indian software industry does not re+uire e*ceptional skills beyond academic training at the first-
degree level. The bulk of the work to produce software in India is relatively non-technical in
nature. It re+uires mostly logical and methodical work and familiarity with software
development tools and languages.
As S'64 !"d Furc.+o&&0Ro&. '4997, p. 97->( note, software development is closely
linked to customer re+uirements and re+uires close coordination within the firm.
T)!ur & !#. <*==*> proposed a five dimensional measurement of service +uality that
includes tangible, reliability, responsiveness, assurance and empathy. The service +uality based
on the management perception emphasizes the service procedure and in what manner service is
provided and their properties include various facets of knowledge and technology such as the
intangibility of service, know how, and design of service procedures.
Good%!"5 M!rr!5 !"d Br'+.!% <1?@3> indicated that it is necessary to identify and
prioritize e*pectations for service and to incorporate these e*pectations into improving service
S%'&. !"d Bo#&o" suggest that a variety of negative emotions can occur following a
service failure, including such feelings as anger, discontent, self-pity and an*iety. onsumer
responsiveness consists of both physical and mental behavior. .hysical activities includes, visiting
a shop, e*amining the product, where as mental activities involves behavior deliberation within,
forming attitudes, processing the communication and learning to prier a brand.
The task of collecting data begins after a research problem has been defined and plan
is chalked out. This study pertains to collection of data from primary and secondary sources. The
data collected for the study includes both primary and secondary data in order to attain the
ob%ectives of the study.
1esearch has been defined in a number of different ways.
A broad definition of research is given by M!r&'" S.u&&#6or&. - "In the broadest sense
of the word, the definition of research includes any gathering of data, information and facts for
the advancement of knowledge."
Another definition of research is given by Cr)6## who states - "1esearch is a process of
steps used to collect and analyze information to increase our understanding of a topic or issue". It
consists of three stepsD .ose a +uestion, collect data to answer the +uestion, and present an
answer to the +uestion.
The !erriam-2ebster /nline 3ictionary defines research in more detail as "a studious
in+uiry or e*amination) especially D investigation or e*perimentation aimed at the discovery and
interpretation of facts, revision of accepted theories or laws in the light of new facts, or practical
application of such new or revised theories or laws"
A research approach can vary significantly depending on what is to be researched, if it is
a scientific method, it would be appropriate to research similar methods or other scientists who
have attempted the e*periment.
In order to complete a research, methodology is important to generate correct data
collection for reference. To meet the e*pectation of research ob%ectives, the proposed method that
will be used in this research is +uantitative approach. 2ith the use of the survey
+uestionnaire and published literatures, this study took on the +uantitative approach of
research. -y means of employing this approach, the researcher was able to obtain the advantages
of +uantitative approaches and overcome their limitations. The above description of the types of
research brings to light the fact that there are two basic approaches to research, viz., +uantitative
approach and the +ualitative approach.
1esearcher will use this method as most of the data collection would be based on surveys
and observations. As proposed methodology that already noted in the first chapter, the
research would begin with gathering documentation, which e*tracted from national
archive, internet source and %ournal or research paper by previous researcher. "urvey will
be hand out, and synthesis of data would achievable after all the elements complete.
The different types of alternatives that have to be made are whether to perform a
+ualitative or +uantitative method, an inductive or deductive approach and whether to use
primary or secondary data in the research. In the te*t below we briefly e*plain these different
approaches and also clarify why we have chosen the ones we have.
Puantitative research is based on the measurement of +uantity or amount. It is applicable
to phenomena that can be e*pressed in terms of +uantity. Pualitative research, on the other hand,
is concerned with +ualitative phenomenon, i.e., phenomena relating to or involving +uality or
kind. $or instance, when they are interested in investigating the reasons for human behavior 'i.e.,
why people think or do certain things(, they +uite often talk of !otivation 1esearch, an
important type of +ualitative research. This type of research aims to discover the underlying
motives and desires, using in depth interviews for the purpose. /ther techni+ues of such research
are word association tests, sentence completion tests, story completion tests and similar other
pro%ective techni+ues. Attitude or opinion research i.e., research designed to find out how
people feel or what they think about a particular sub%ect or institution is also +ualitative
research. Pualitative research is especially important in the behavioral sciences where the
aim is to discover the underlying motives of human behavior. Through such research they
can analyze the various factors which motivate people to behave in a particular manner or
which make people like or dislike a particular thing. It may be stated, however, that to apply
+ualitative research in practice is relatively a difficult %ob and therefore, while doing such
research, one should seek guidance from e*perimental psychologists.
Puantitative research is "formal, ob%ective, systematic processes in which numerical data
are utilized to obtain information about the world" <Bur") !"d Gro, c'&d :2 Cor%!c4 1??1
( 1/=>. It is a research method that relies less on interviews, observations, and small numbers of
+uestionnaires, focus groups, sub%ective reports and case studies but is much more focused on the
collection and analysis of numerical data and statistics. The opposite to this type of research is
+ualitative research, which is much more reliant upon, interviews and case studies and deals
generally with much smaller numbers. It approach involves the generation of data in +uantitative
form, which can be sub%ected to rigorous +uantitative analysis in a formal and rigid fashion. This
approach can be further sub classified into inferential, e*perimental and simulation approaches to
The purpose of inferential approach to research is to form a database from which to infer
characteristics or relationships of population. This usually means survey research where a sample
of population is studied '+uestioned or observed( to determine its characteristics, and it is then
inferred that the population has the same characteristics.
0*perimental approach is characterized by much greater control over the research
environment and in this case some variables are manipulated to observe their effect on other
"imulation approach involves the construction of an artificial environment within which
relevant information and data can be generated. This permits an observation of the dynamic
behavior of a system 'or its sub-system( under controlled conditions. The term simulation in the
conte*t of business and social sciences applications refers to Rthe operation of a numerical
model that represents the structure of a dynamic process.
Iariables, both dependent and independent, that are needed in the study are clearly and
precisely specified in a +uantitative study. In addition, +uantitative method enables longitudinal
measures of subse+uent performance of the respondents.
1. A Sur,2
A survey is a method for collecting +uantitative information about items in a population.
3ata are usually collected through the use of +uestionnaires, although sometimes researchers
directly interview sub%ects. .urpose of survey research design is for researchers to describe the
customerBs attitudes, opinions, behaviors, or characteristics based on data collected from a
sample or a population.
*. A" '"&r,'6
The interview differs from a survey in that you get a lot more detailed or rich data. As
such, it is a much more time consuming process 'particularly when you are trying to e*tract your
findings from the data you collect(. In order to form your interview +uestions, you should have
undertaken some background research or reading.
!> O("0"dd 8u)&'o")
The term "open" describes your interviewee8s options for respondingD they are open. The
answer can be two words or two paragraphs. The ma%or advantage of this more natural
discussion is the greater detail and variety that the respondent can provide. @ou are also more
likely to discover all sorts of information you hadn8t anticipated. The down side might be that the
mass of detail may be difficult to sort through, especially when you are trying to collate
responses of multiple interviews.
b) Closed Questions
2ith a closed +uestion the possible responses are closed to the interviewees, since they
can only reply with a finite number or limited choice. !ultiple choice e*ams are the obvious
e*ample. @ou have to choose one answer from, for e*ample, five options. A variation is the
"bipolar" +uestion where the respondent must choose yesEno, trueEfalse, or agreeEdisagree. The
obvious benefits of these +uestions are ease, speed and concrete data which you can readily
collate and tabulate.
In research, we often refer to the two broad methods of reasoning as the deductive and
inductive approaches.
A research design is simply the framework or plan for a study that is used as a guide in
collecting and analyzing the data. It is blueprint that is followed in completing a study.
Accord'"+ &o Kr#'"+r5 M1esearch design is the plan, structure, and strategy of
investigation conceived so as to obtain answers to research +uestions and to control variance.
Accord'"+ &o Gr" !"d Tu##5 MA research design is the specification of methods and
procedures for ac+uiring the information needed. It is the overall operational pattern or
framework of the pro%ect that stipulates what information is to be collected from which sources
by what proceduresN.
A research design is the arrangement of conditions for collection and analysis of data in a
manner that aims to combine relevance to the research purpose with economy in procedure.
There are three types of 1esearch 3esign areD
ED(#or!&or2 R)!rc. D)'+"
0*ploratory research is a type of research conducted because a problem has not been
clearly defined. 0*ploratory research helps determine the best research design, data collection
method and selection of sub%ects. 0*ploratory research provides insights into and comprehension
of an issue or situation. It is also termed as formulative research studies.
D)cr'(&', R)!rc. D)'+"
The 3escriptiveE"urvey 1esearch 3esign study is typically concerned with determining
the fre+uency with which something occurs or the relationship between two variables. It refers to
the type of research +uestion, design, and data analysis that will be applied to a given topic.
C!)u!# R)!rc. D)'+"
ausal designs differ from descriptive designs in their greater probability of establishing
causality. The reason for this is that causal designs are similar to e*periments done in a lab,
where we know what goes in, what changes are made, and what results from the changes. ausal
designs are also known as e*perimental designs.
3escriptive research, also known as statistical research, describes data and characteristics
about the population or phenomenon being studied
3escriptive research can be either +uantitative or +ualitative. It can involve collections of
+uantitative information that can be tabulated along a continuum in numerical form, such as
scores on a test or the number of times a person chooses to use a-certain feature of a multimedia
program, or it can describe categories of information such as gender or patterns of interaction
when using technology in a group situation. 3escriptive research involves gathering data that
describe events and then organizes, tabulates, depicts, and describes the data collection 'Class L
#opkins, 49?>(. It often uses visual aids such as graphs and charts to aid the reader in
understanding the data distribution. -ecause the human mind cannot e*tract the full import of a
large mass of raw data, descriptive statistics are very important in reducing the data to
manageable form. 2hen in-depth, narrative descriptions of small numbers of cases are involved,
the research uses description as a tool to organize data into patterns that emerge during analysis.
"ampling is the procedure a researcher uses to gather people, places, or things to study.
1esearch conclusions and generalizations are only as good as the sample they are based on.
"amples are always subsets or small parts of the total number that could be studied. "ampling is
concerned with the selection of a subset of individuals from within a population to estimate
characteristics of the whole population.
A sample is a subset from a larger population. Although the basic nature of the sample is
specified in the research design, selecting the sampling procedure is a separate step in the
research process. "everal +uestions must be answered before a sampling procedure is selected.
The first step that researchers take in developing sampling plans is to determine the
populations of interest. The term population refers to every person, event, or ob%ect that meets
specific characteristics. 1esearcher could decide to sample an entire population of interest. The
main ob%ective in developing sampling plans is to obtain unbiased samples that are representative
of entire populations of interest.
"ampling techni+ues is from real-world populations, used in observational studies and
surveys. The sampling has two types areD
.robability samples are selected in such a way as to be representative of the population.
The term probability sampling is used when the selection of the sample is purely based on
chance. The human mind has no control on the selection or non- selection of the units for the
sample. 0very unit of the population has known nonzero probability of being selected for the
sample. The probability of selection may b e+ual or une+ual but it should be non-zero and should
be known. The probability sampling is also called the random sampling 'not simple random
Jon-probability sampling is a sampling techni+ue where the samples are gathered in a
process that does not give all the individuals in the population e+ual chances of being selected. In
any form of research, true random sampling is always difficult to achieve.
In non-probability sampling, the sample is not based on chance. It is rather determined by
some person. 2e cannot assign to an element of population the probability of its being selected
in the sample. "omebody may use his personal %udgment in the selection of the sample. In this
case the sampling is called %udgment sampling. A drawback in non-probability sampling is that
such a sample cannot be used to determine the error. Any statistical method cannot be used to
draw inference from this sample. -ut it should be remembered that %udgment sampling becomes
essential in some situations. "uppose we have to take a small sample from a big heap of coal. 2e
cannot make a list of all the pieces of coal. The upper part of the heap will have perhaps big
pieces of coal. 2e have to use our %udgment in selecting a sample to have an idea about the
+uality of coal. The non- probability sampling is also called non-random sampling.
In contrast with probability sampling, non-probability sample is not a product of a
randomized selection processes. "ub%ects in a non-probability sample are usually selected on the
basis of their accessibility or by the purposive personal %udgment of the researcher.
The downside of this is that an unknown proportion of the entire population was not
sampled. This entails that the sample may or may not represent the entire population accurately.
Therefore, the results of the research cannot be used in generalizations pertaining to the entire
onvenience sampling is probably the most common of all sampling techni+ues. 2ith
convenience sampling, the samples are selected because they are accessible to the researcher.
"ub%ects are chosen simply because they are easy to recruit. This techni+ue is considered easiest,
cheapest and least time consuming.
Puota sampling is a non-probability sampling techni+ue wherein the researcher ensures
e+ual or proportionate representation of sub%ects depending on which trait is considered as basis
of the +uota.
<udgmental sampling is more commonly known as purposive sampling. In this type of
sampling, sub%ects are chosen to be part of the sample with a specific purpose in mind. 2ith
%udgmental sampling, the researcher believes that some sub%ects are fit for the research compared
to other individuals. This is the reason why they are purposively chosen as sub%ects.
The convenience sampling is that it is hard to generalize to the wanted population
<S!u"dr)& !#.5*==;>.2e will attempt to collect as many respondents as possible but since we
will be studying students we assume that there will be little variation in the population making it
more approved to generalize the response rates. The sampling method for respondents took also
place on a convenience basis since the consumers who agree to answer the +uestionnaire are
those that were chosen. A sample of convenience is the terminology used to describe a sample in
which elements have been selected from the target population on the basis of their accessibility
or convenience to the researcher. onvenience samples are sometimes referred to as accidental
samples for the reason that elements may be drawn into the sample simply because they %ust
happen to be situated, spatially or administratively, near to where the researcher is conducting the
data collection.
A sample is often described as being representative if certain percentage fre+uency
distributions of element characteristics within the sample data are similar to corresponding
distributions within the whole population. The population characteristics selected for these
comparisons are referred to as marker variablesS. These variables are usually selected from
among those demographic variables that are readily available for both population and sample.
,nfortunately, there are no ob%ective rules for deciding which variables should be nominated as
marker variables. $urther, there are no agreed benchmarks for assessing the degree of similarity
re+uired between percentage fre+uency distributions for a sample to be %udged as representative
of the population.
"ince there are time and resource restraints, a specific population had to be identified in
order to generalize and create relevant segments. The respondents are Information Technology
#eads in the cooperative -anks.
The task of data collection begins after a research problem has been defined and research
designEplan chalked out. 3ata collection is divides into two sources which primary and
secondary data. The research is using about the understanding the needs for a new product
development. The research is about understanding the needs in cooperatives banks. This research
includes primary data types. The primary data were gathered answers through the participants of
survey process.
.rimary data collection is necessary when a researcher cannot find the data needed in
secondary sources we can obtain primary data either through observation or through direct
communication with respondents in one form or another or through personal interviews. This, in
other words, means that there are several methods of collecting primary data, particularly in
surveys and descriptive researches. Important ones areD
'i( Puestionnaires
'ii( Interview method
'iii( "chedules
'iv( /bservation method
It is always desirable to pre-test the data collection instruments before they are finally
used for the study purposes. #ere, mainly we are focusing on the +uestionnaires where we can
able to collect more view from the customers.
The study use survey +uestionnaires to gather pertinent data. !oreover, the researcher
also uses previous studies related to the current situation of branded coffeehouses in the market
and compares it to its e*isting data in order to provide conclusions and competent
recommendations. A self-administered structured +uestionnaire is employed by the researcher so
as to save time and effort in the organization of the answers that will be gained. The
+uestionnaire was distributed to the general public. The +uestionnaire was structured in such a
way that respondents will be able to answer it easily. Thus, the set of +uestionnaire was
structured using the Hikert format with a five-point response scale. A Hikert "cale is a rating
scale that re+uires the sub%ect to indicate his or her degree of agreement or disagreement to a
statement. In this type of +uestionnaire, the respondents were given five response choices. These
options served as the +uantification of the participantsSagreement or disagreement on each
+uestion item.
"urvey is one of the most popular +uantitative methods in research. As are searcher, the
most specific and accurate data are needed to get a valid result that can be used in research. An
opinion from U%! S4!r!" <*==-> saying that) "urveys are useful and powerful in finding
answers to research +uestions through data collection and subse+uent analyses, but they can do
more harm than good if the population is not correctly targeted.
This method of data collection is +uite popular, particularly in case of big en+uiries. It is
being adopted by private individuals, research workers, private and public organizations and
even by governments. In this method a +uestionnaire is sent 'usually by post( to the persons
concerned with a re+uest to answer the +uestions and return the +uestionnaire. A +uestionnaire
consists of a number of +uestions printed or typed in a definite order on a form or set of forms.
The +uestionnaire is mailed to respondents who are e*pected to read and understand the
+uestions and write down the reply in the space meant for the purpose in the +uestionnaire itself.
The respondents have to answer the +uestions on their own.
The method of collecting data by mailing the +uestionnaires to respondents is most
e*tensively employed in various economic and business surveys. The merits claimed on behalf
of this method are as followsD
4. There is low cost even when the universe is large and is widely spread geographically.
6. It is free from the bias of the interviewer) answers are in respondentsB own words.
7. 1espondents have ade+uate time to give well thought out answers.
>. 1espondents, who are not easily approachable, can also be reached conveniently.
:. Harge samples can be made use of and thus the results can be made more dependable and
Puite often +uestionnaire is considered as the heart of a survey operation. #ence it should
be very carefully constructed. If it is not properly set up, then the survey is bound to fail. This
fact re+uires us to study the main aspects of a +uestionnaire viz., the general form, +uestion
se+uence and +uestion formulation and wording. 1esearcher should note the following with
regard to these three main aspects of a +uestionnaireD
1. G"r!# $or%
"o far as the general form of a +uestionnaire is concerned, it can either be structured or
unstructured +uestionnaire. "tructured +uestionnaires are those +uestionnaires in which there are
definite, concrete and pre-determined +uestions. The +uestions are presented with e*actly the
same wording and in the same order to all respondents. 1esort is taken to this sort of
standardization to ensure that all respondents reply to the same set of +uestions. The form of the
+uestion may be either closed 'i.e., of the type yesSor noS( or open 'i.e., inviting free response(
but should be stated in advance and not constructed during +uestioning.
2. 8u)&'o" )Iu"c
In order to make the +uestionnaire effective and to ensure +uality to the replies received,
a researcher should pay attention to the +uestion-se+uence in preparing the +uestionnaire. A
proper se+uence of +uestions reduces considerably the chances of individual +uestions being
misunderstood. The +uestion-se+uence must be clear and smoothly-moving, meaning thereby
that the relation of one +uestion to another should be readily apparent to the respondent, with
+uestions that are easiest to answer being put in the beginning. The first few +uestions are
particularly important because they are likely to influence the attitude of the respondent and in
seeking his desired cooperation. The opening +uestions should be such as to arouse human
interest. The following type of +uestions should generally be avoided as opening +uestions in a
4. Puestions that put too great a strain on the memory or intellect of the respondent)
6. Puestions of a personal character)
7. Puestions related to personal wealth, etc
-. 8u)&'o" $or%u#!&'o" !"d 6ord'"+
2ith regard to this aspect of +uestionnaire, the researcher should note that each +uestion
must be very clear for any sort of misunderstanding can do irreparable harm to a survey.
Puestion should also be impartial in order not to give a biased picture of the true state of affairs.
Puestions should be constructed with a view to their forming a logical part of a well thought out
tabulation plan. In general, all +uestions should meet the following standardsD
'a( "hould be easily understood)
'b( "hould be simple i.e., should convey only one thought at a time)
'c( "hould be concrete and should conform as much as possible to the respondentSs way of
1esearch 3esign D 3escriptive
3ata "ource D .rimary data
1esearch Instrument D Puestionnaire
Types of Puestionnaire D "tructured
"ampling Techni+ue D onvenient
"ampling type D Jon-probability sampling
"ampling !ethod D .ersonal survey method through preparation of +uestionnaire
"ample "ize D 455 1espondents.
Area of "tudy D ooperative -anks in India
The data drawn from the various sources were sub%ected to statistical treatment using
the appropriate tables.
• hi-"+uare !ethod
• T-test !ethod
• /ne-way AJ/IA

/51Pr'%!r2 Bu)'")) o$ &. co%(!"2
Bu)'")) No. o$ R)(o"d"&) Prc"&!+
Insurance 5 5
-anking 455 455
Hoans 5 5
orporate $inance 5 5
!icro $inance 5 5
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that 455; of the respondents are in the -anking sector
E$$'c'"c2 '" ! Go: 6'&. !dd'&'o"!#/u(+r!dd )o$&6!r
E$$'c'"c2 '" !" !dd'&'o"!#
No. o$ R)(o"d"&) Prc"&!+
@es >7 >7
Jo 76 76
anBt say 6: 6:
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that >7; of them says that the e*isting additional software is
efficiency and 6:; of them are not interested to say the efficiency.
R!&'"+ &. D')&'"+ )o$&6!r
R!&'"+ &. D')&'"+ )o$&6!r No. o$ R)(o"d"&) Prc"&!+
5 to 7 >7 >7
7 to : 6K 6K
: to ? 49 49
? to 45 44 44
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that >7; of them rated the e*isting software by 5 to 7 and
44; of them rated as ? to 44.
Pr'c R!"+ o$ D')&'"+ )o$&6!r
Pr'c R!"+ o$ D')&'"+
No. o$ R)(o"d"&) Prc"&!+
T : lakhs 4> 4>
: to 45 lakhs >4 >4
45 to 4: lakhs 66 66
4: to 65 lakhs 44 44
Above 65 lakhs 46 46
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that 66; of the -anks e*isting "oftware price is 45 to 4:
lakhs and 44; of the -anks bought for 4: to 65 lakhs.
Wor&.'")) o$ D')&'"+ )o$&6!r &o &. D(c&!&'o"
Wor&.'")) o$ D')&'"+
)o$&6!r &o &. D(c&!&'o"
No. o$ R)(o"d"&) Prc"&!+
"trongly Agree 67 67
Agree K K
Jeither Agree nor 3isagree 4> 4>
3isagree 45 45
"trongly 3isagree >U >U
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that >U; of the -anks belongs to "trongly disagree the
e*isting software and K; of the -anks belongs to agree.
P!r!%&r) B!)d o" &. Pr'or'&')
P!r!%&r) B!)d o" &. Pr'or'&') No. o$ R)(o"d"&) Prc"&!+
"upport for !ultiple 1eleases 4U 4U
Automatic 3eployment and
74 74
Improve "oftware Puality and
1educe costs
64 64
omplete Iisibility for !anagement 67 67
$le*ible /utsourcing 9 9
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that 74; of the -anks belongs to Automatic 3eployment
and 3istribution, and 9; of the -anks belongs to $le*ible /utsourcing.
Dc')'o" '" c.oo)'"+ )o$&6!r $ro% &. %!r4&
Dc')'o" '" c.oo)'"+
)o$&6!r $ro% &. %!r4&
No. o$ R)(o"d"&) Prc"&!+
Puality 76 76
Puantity 47 47
"ervice 4K 4K
Technology 74 74
.rice K K
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that 76; of the -anks belongs to Puality and K; of the
-anks belongs to .rice.
I"&r)&d '" N6 So$&6!r
I"&r)&d '" N6 So$&6!r No. o$ R)(o"d"&) Prc"&!+
@es U6 U6
Jo 69 69
anBt say 9 9
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that U6; of the -anks are interested in new software and 9;
of the -anks are not willing to say their opinion.
C.o'c o$ Purc.!) o$ D!c/C!)& So$&6!r
C.o'c o$ Purc.!) o$
D!c/C!)& So$&6!r
No. o$ R)(o"d"&) Prc"&!+
Iery much important 9 9
moderate 4? 4?
Important 4> 4>
Jot much important 6K 6K
Jot at all important 76 76
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that 76; of the -anks belongs to not important at all and 9;
of the -anks belongs to Iery much important of choice of purchase of the 3ac>ast software.
T. Pr'c o$ our D!c/C!)& So$&6!r
T. Pr'c o$ our D!c/C!)&
No. o$ R)(o"d"&) Prc"&!+
#ighly "ufficient 74 74
"ufficient 49 49
Jeither "ufficientE nor not sufficient 6> 6>
Jot sufficient 4: 4:
#ighly not sufficient 45 45
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that 74; of the -anks are highly sufficient with price of the
3ac>ast software and 45; of the -anks are highly not sufficient
I"&r)&d '" :u2'"+ &.') So$&6!r '$ '& ') :'"+ '"&roducd
I"&r)&d '" :u2'"+ &.') So$&6!r '$
'& ') :'"+ '"&roducd
No. o$ R)(o"d"&) Prc"&!+
Iery much Interested 6U 6U
Interested >4 >4
Jeither Interested nor ,ninterested 4: 4:
Jot Interested 4> 4>
Iery much Jot Interested > >
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that >4; of the -anks are interested in buying the software,
and > ; of the -anks are very much not interested
Su++)&'"+ D!c/C!)& So$&6!r &o O&.r)
Su++)&'"+ D!c/C!)&
So$&6!r &o O&.r)
No. o$ R)(o"d"&) Prc"&!+
@es U6 U6
Jo 44 44
anBt say 6K 6K
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that U6; of the -anks suggesting the 3ac>ast software,
44; of the -anks are wont suggest the software.
Fu&ur o$ D!c/C!)& So$&6!r
Fu&ur o$ D!c/C!)&
No. o$ R)(o"d"&) Prc"&!+
Iery -right U? U?
-right 66 66
$air 4U 4U
Jot -right > >
3ull 5 5
Total 455 455
"ourceD .rimary 3ata
$rom the above table shows that U?; of the -anks said the future of the 3ac>ast can be
Iery -right and none said dull.
1. Su$$'c'"c2 o$ curr"&#2 u)'"+ So$&6!r !"d &. &'% o$ So$&6!r :'"+ u)dB
To test the relationship between time of software being used and sufficiency of the
currently using software.
Nu## H2(o&.)')B
There is no significance relationship between the time of software being used and
sufficiency of currently using software.

A#&r"!&', H2(o&.)')B
There is significance relationship between the time of software being used and
sufficiency of currently using software.

O"0S!%(# S&!&')&'c)
N M!" S&d. D,'!&'o" S&d. Error M!"
Su$$'c'"& 1 *=.== @.1;- -.@-/
Lo"+ 1 *=.== ?.**= /.1*-
O"0S!%(# T)&
T)& V!#u K =
& d$ S'+. <*0&!'#d> M!"
?1L Co"$'d"c I"&r,!# o$ &.
Lo6r U((r
Su$$'c'"& 1.*13 / .==3 *=.=== ?.-1 -=.31
Lo"+ /.@11 / .==@ *=.=== @.11 -1./1
alculated value V :.64U
Table value V 6.KKU>
alculated value V >.?:4
Table value V 6.KKU>
"o therefore, we can conclude that calculated value is greater than table value. "o we
re%ect Jull hypothesis. There is significance relationship between the time of software being used
and sufficiency of currently using software.
*. Pro:#%) u)'"+ $!c'"+ 6.'# u)'"+ D')&'"+ )o$&6!rB
#oD Jo problems occur while using e*isting software
#4D .roblems were occurring while using the e*isting software.

Su% o$ SIu!r) d$ M!" SIu!r F S'+.
B&6" Grou() 11-.133 / -@.*?* --*./=; .===
W'&.'" Grou() 1=.?// ?1 .111
To&!# 13/.11= ??
alculated value V 776.>5K
Table value '9:, >( V 6.>UK:
Therefore, calculated value is greater than table value. "o we re%ect the null hypothesis.
"o problem in maintaining the records is occur while using e*isting software.
-. Fu&ur !"d C.o'c o$ D!c/C!)& So$&6!rB
C.' C SIu!r &)&B
To test the relationship between performance of the 3ac>cast software and rating the
3ac>cast software with similar products.
Nu## H2(o&.)')B
There is no significance difference between performance of the 3ac>cast software and
rating the 3ac>cast software with similar products.
A#&r"!&', H2(o&.)')B
There is significance difference between performance of the 3ac>cast software and rating
the 3ac>cast software with similar products.
O:)r,d N ED(c&d N R)'du!#
EDc##"& */ *=.= /.=
Good // *=.= */.=
A,r!+ 11 *=.= 0?.=
Poor 1/ *=.= 03.=
Vr2 Poor ; *=.= 01-.=
To&!# 1==
O:)r,d N ED(c&d N R)'du!#
EDc##"& 1; *=.= -;.=
Good -/ *=.= 1/.=
A,r!+ 1 *=.= 011.=
Poor - *=.= 01;.=
Vr2 Poor 1 *=.= 01?.=
To&!# 1==
T)& S&!&')&'c)
Pr$or%!"c D%o
C.'0SIu!r /-.?==
d$ / /
A)2%(. S'+. .=== .===
a. 5 cells '5.5;( have e*pected fre+uencies less than :. The minimum e*pected cell fre+uency is
alculated Ialue V >7.9
Table value V 9.>9
alculated Ialue V 466
Table Ialue V 9.>9

Therefore calculated value is greater than table value. 2e re%ect null hypothesis .There is
significance difference between performance of the 3ac>cast software and rating the 3ac>cast
software with similar products.
$rom the data collections I found that,
• It is found from Anova that the problem in maintaining the records is occurring while
using e*isting software
• It is noticed that the performance of the software is better than the other similar products
in the market
• It is showed that all the customers are from -anking sector
• It is observed that the most of them are more efficient with their upgraded or additional
• It is found that most of the customers are rated their e*isting software as good in the
• It is noticed that customers are not satisfied with the worthiness and the software is not up
to their e*pectation level in the market
• It is observed that the customers are e*pecting the software should be automatic
deployment and distribution than fle*ible outsourcing
• It is found that the customers prefer the software based on +uality and latest technology
than price
• It is noticed that most of the -anks are willing to trying out the new software in the
• It is found that the factors are not all important for the customers to purchase the new
software 3ac>cast
• It is observed that the customers are satisfied with the price level of the new software
• It is inferred that many of them are interested to buy the new product in the market if it is
feasible to them
• It is cleared that the customers will suggest the 3ac>cast software with other -anks too
• It is observed that the future of the software will be very bright and none of them are
disappointed with the software
• It is noticed that most of their suggestion is they need clear reporting tools in future.
$rom the research I suggest,
• The trail versions of the software can be created in the websites to download and can see
the latest changes for technology
• /ffer a free targeted newsletter filled with tips, advice and product information to get the
awareness of the new software
• "end one newsletter to e*isting customers who will appreciate the helpful information
and will be more likely to upgrade to future versions if it is re+uired to them
• The software can be introduced in the online marketing websites to increase the
awareness of the software
• To increase the revenue can offer the special discount to the customers
• ,sing the marketing strategies can /ffer free support for installation issues and low-cost
ongoing support
• Translate the software and supporting documentation into additional languages like
"panish, Cerman, Aorean, <apanese,etc.,
$rom this study I conclude that the new product can be launched if the marketing
strategies are used in an efficient way. The software companies should create the applications
based on the needs in the market. 2here the software development companies should launch the
products in the market based on the market research. This will help them in getting succeed of
the new product.
• K!r+5 L. M.5 Bc4.!u)5 A.5 *==;. !odelling software +uality costs by adapting
established methodologies of mature industries. InD .roc. 655K I000
• International onference on Industrial 0ngineering and 0ngineering !anagement. I000,
.iscataway, pp. 6UKO6K4.
• W.'&&!4r5 F. A.5 Vo!)5 F. M.5 *==*. :5 years of softwareD Aey principles for +uality. IT
.ro JovE3ec, 6?O7:.
• Ian Coulding Ian Coulding, '49?7( "Jew .roduct 3evelopmentD A Hiterature 1eview",
0uropean <ournal of !arketing, Iol. 4K IssD 7, pp.7 O 75
• C.r2# N!4!&! 7 K. S',!4u%!r5 National Culture and New Product development: An
integrative Review Journal of Marketing Vol. 6 !Januar" #$$6%
• W.&&"5 D.A. 1??-. &'at constitutes a t'eoretical contri(ution. Acad. of Management
J. #)!)% )$*)$+
4. 2hat is the primary business of your companyD
a( Insurance b( banking c( loans d( corporate finance e(!icro finance
6. 2hat software 'ore -anking "olutions( you are using in your organizationF
a( 3ata Iisions b( Aldon c( .olaris d( "apiens e( If others specify.
7. 3o you feel you could be more efficient at your %ob with additionalEupgraded softwareF
a( @es b( Jo c( anBt say
>. 3o you think that the software you use currently is sufficientF
a( #ighly sufficient b( sufficient c( Jeither sufficient E nor not sufficient
d( Jot sufficient e( #ighly not sufficient.
:. $or how long have you been using your softwareF
a( !ore than 6 years b( 6- 4 @ears c( "i* !onths d( Three months e(
/ne month
U. #ow much will you rate your e*isting software on a scale of 45F
a( 5-7 b( 7-: c( :-? d( ?-45
K. 2hat was the price range at which you bought your e*isting softwareF
a( Hess than 1s : lakhs b(1s : O 45 lakhs c( 1s 45-4: lakhs d(1s 4:- 65
lakhs e( Above 1s 65 lakhs

?. 3o you agree that your e*isting software is worth with respect to your e*pectationF
a( "trongly Agree b( Agree c( Jeither Agree nor 3isagree d( 3isagree e(
"trongly 3isagree

9. 2hat problems do you face while using your e*isting softwareF
a( .roblem in coding b( problem in tracking c( problem in collaboration
d( problem in updating the software e( problem in maintaining records
45. 1ate the following parameters based on your priorities '4, 6,7,>,: etc(
a( "upport for !ultiple 1eleases b( Automatic 3eployment and 3istribution
c( Improve "oftware Puality and 1educe costs d( omplete Iisibility for
!anagement e( $le*ible /utsourcing

44. 1ate the factors which would influence the decision in choosing software from the
!arketF '4, 6, 7, > etc(
a( Puality b( Puantity c( "ervice d( Technology e( .rice

46. Are you interested in trying out new softwareF
a( @es b( Jo c( anBt say
47. 2hat is your initial reaction to the 3acono software performanceF
a( 0*cellent b( Cood c( Average d( .oor e( Iery .oor
4>. #ow important are the factors according to you that will affect your choice of
purchase of 3ac>ast "oftwareF
a( Iery much important c( moderate b( Important d( not much important e(not at
all important
4:. #ow do you rate 3ac>ast software 'demo( with similar products in the marketF
,se : point rating scale
4U. Are you satisfied with the price of our 3ac>ast softwareF
a( #ighly satisfied b( "atisfied c( Jeither satisfied nor dissatisfied d( dissatisfied e(
highly dissatisfied
4K. #ow much interested you are in buying this product if it is being introduced
a( Iery much Interested b( Interested c( Jeither Interested nor ,ninterested
d( Jot Interested e( Iery much Jot Interested
4?. 2ill you suggest this 3ac>ast software to othersF
a( @es b( Jo c( anBt say
49. #ow do you see the future of our software 3ac>ast rangeF
a( Iery bright b( -right ( $AI1 d( not bright e( dull
65. 2hat changes would you like to see in our software 3ac>ast in futureF