IIMK Project Report

DETAILED PROJECT REPORT SUBMITTED TO EDWORD EDUCATIONS, KOZHIKODE DARWINSEEDS CONSULTING PVT LTD, KOCHI, KERALA - 682 017 [email protected]



AVAAN INSTITUTE OF MANAGEMENT EDUCATION AND RESEARCH (AIMER) SUBMITTED TO EDWORD EDUCATIONS, KOZHIKODE PREPARED BY DARWINSEEDS CONSULTING PVT LTD, KOCHI, KERALA-682017 EMAIL: [email protected]



Director 12 February 2021 Edword Educations LLP, South Arayankode, Kozhikode A s part of our engagement to provide Consulting services for Avaan Institute DIRECTOR’S NOTE of Management Education and Research (AIMER), a business school planned in Markaz Knowledge City, Kaithapoyil, Kozhikode, undertaking the pre-project activities and providing implementation support during the course of its functioning, we hereby submit the Detailed Project Report for your kind perusal. The earlier version of the DPR which was submitted as separate sections during November 2020-January 2021, has been updated based on the revised cost estimates. The procedures summarized in our Detailed Project Report do not constitute an audit, a review, or other form of assurance in accordance with any generally accepted auditing, review, or other assurance standards, and accordingly we do not express any form of assurance. This Detailed Project Report is intended solely for the information and use of the Office of Edword Educations LLP and is not intended to be and should not be used by anyone other than this specified party. We appreciate the cooperation and assistance provided to us during the preparation of this report. If you have any questions, please contact the undersigned. Yours sincerely, Shalique M.S Director, Darwinseeds Consulting Pvt Ltd



T his Detailed Project Report for Avaan Institute of Management Education DISCLAIMER and Research (AIMER) as part of consulting services for designing the project, undertaking the pre-project activities and providing academic implementation support during the course of the project has been prepared by Darwinseeds Consulting Pvt Ltd (hereinafter referred to as ‘DwS’ or ‘Darwinseeds’ or ‘Us’) and delivered to the ‘Office of Edword Educations LLP’ (hereinafter referred to as ‘the Client’). The inferences and analyses made by Darwinseeds in this report are based on information collated through primary research, secondary research, discussions with the client personnel and key stakeholders and our knowledge about the program and its objectives. Darwinseeds has taken due care to validate the authenticity and correctness of the information from various sources, however, no representations or warranty, expressed or implied, is given by DwS or any of its respective partners, officers, employees or agents as to the accuracy or completeness of the information, data or opinions provided to DwS by third parties or secondary sources. Nothing contained herein, to the contrary and in no event shall DwS be liable for any loss of profit or revenues and any direct, incidental or consequential damages incurred by the Client or any other user of this report. In case the report is to be made available or disclosed to any third party, this disclaimer along with all the limiting factors must be issued to the concerned party. The fact that DwS assumes no liability whatsoever, if for the reason any party is led to incur any loss for acting upon this report, must be brought to the notice of the concerned party. © DwS, 2021



We would like to express our sincere gratitude to AICTE and its officials for their ACKNOWLEDGEMENT valuable inputs during the preparation of this DPR. We would also like to thank the professors of existing business schools in Kerala, Karnataka, Tamil Nadu, and Goa for their guidance and valuable inputs during preparation of the DPR. We would like to convey our sincere thanks to officials of various IIMs for their support during the on-site visit of our team for the proposed business school in Kozhikode. Also, we must extend our sincere thanks to all the stakeholders in Markaz Knowledge City who gave us their valuable time and insights with respect to various support requirements.

CONTENTS 1 INTRODUCTION AND OBJECTIVE OF STUDY.. ..........................................................................01 2 MARKAZ KNOWLEDGE CITY ........................................................................................................03 2.1 MARKAZ KNOWLEDGE CITY – EDUCATION .................................................................................03 2.2 MARKAZ KNOWLEDGE CITY – HEALTH .........................................................................................04 2.3 MARKAZ KNOWLEDGE CITY – CAREER ..........................................................................................05 2.4 MARKAZ KNOWLEDGE CITY – RESIDENTIAL ..............................................................................05 2.5 MARKAZ KNOWLEDGE CITY – COMMERCIAL .............................................................................06 2.5.1 Traditional Souk ............................................................................................................................06 2.5.2 Shopping Mall .................................................................................................................................07 2.5.3 World-Class Restaurants and Cuisine Fusion ..................................................................07 3 Market Study ....................................................................................................................................09 3.1 Why Business Administration, Why not other programs? ......................................................09 3.2 Methodology ................................................................................................................................................09 3.3 Secondary Data Analysis ........................................................................................................................10 3.4 Post Graduate Engineering and Management Courses – A Comparative Analysis .......10 3.4.1 Target Market .................................................................................................................................11 3.4.2 Entry Barrier ...................................................................................................................................11 3.4.3 Competition .....................................................................................................................................11 3.4.4 Revenue Channels ........................................................................................................................11 3.5 PGDM/MBA choice based on secondary data ...............................................................................11 4 COMPETITOR ANALYSIS ...............................................................................................................14 4.1 Kerala’s Management Education Scenario .....................................................................................14 4.1.1 Growth Scenario of the State ...................................................................................................14 4.1.2 Business Schools in Kerala .......................................................................................................14 4.1.3 Top B-Schools in Kerala .............................................................................................................14 4.2 NBA Accredited Institutes in Kerala .................................................................................................15 4.3 Enrolment in PGDM and MBA programs ........................................................................................16 4.4 Infrastructure Facilities of PGDM/ MBA programs ...................................................................16 4.5 Overview of PGDM Programs ..............................................................................................................16 4.5.1 Industry and academic tie-ups ...............................................................................................16 4.6 PGDM – Academic programs with foreign tie-ups ......................................................................17 4.7 Placements in PGDM & MBA Institutes ............................................................................................17 4.7.1 Average Placement Salary ........................................................................................................17 4.8 Placement Percentage Comparison ...................................................................................................18 4.9 Industry wise Placement ........................................................................................................................19 4.10 Programs & Specialisations ................................................................................................................20 4.11 Enrolment and Occupancy Ratio .....................................................................................................22 4.12 Students – Teacher Ratio .....................................................................................................................23 4.12.1 PGDM Facilities ...........................................................................................................................24 4.12.2 Incubation Facility .....................................................................................................................24 4.12.3 Tuition Fees ..................................................................................................................................24

5 Primary Data Analysis ...................................................................................................................27 5.1 A conceptual framework for primary data analysis ...................................................................27 5.2 Step 1: Focus Group Discussions ........................................................................................................28 5.3 Step 2: Survey .............................................................................................................................................29 6 Market Strategy ...............................................................................................................................33 6.1 Marketing activities ..................................................................................................................................33 6.2 Rationing Communication Mix Expenses using Analytical Optimisation ........................ 36 6.2.1 Assumptions ...................................................................................................................................36 7 RESEARCH AND MANAGEMENT CONSULTING .......................................................................39 7.1 Center for Omni Channel Retail ..........................................................................................................39 7.2 Centre for Islamic Business and Finance ........................................................................................40 7.3 Centre for Purchase and Distribution Management ..................................................................40 7.4 Centre for Family Business Management .......................................................................................41 7.6 Centre for Health Care Management ................................................................................................42 7.7 Centre for Tourism and Hospitality Management ......................................................................43 7.8 Centre for Entrepreneurship ...............................................................................................................44 7.9 Centre for Sustainability ........................................................................................................................45 8 FINANCIAL ANALYSIS .....................................................................................................................48 8.1 Breakeven analysis ...................................................................................................................................50 8.2 BUILDING INFRASTRUCTURE .............................................................................................................51 8.3 HUMAN RESOURCES PLAN ...................................................................................................................56 8.4 LIBRARY AND COMPUTER CENTER .................................................................................................60 8.5 STUDENT FEE DETAILS .........................................................................................................................61 8.6 MANAGEMENT DEVELOPMENT PROGRAMS ...............................................................................62 8.7 MANAGEMENT CONSULTING ..............................................................................................................62 9 Risk Analysis AIMER ......................................................................................................................64 9.1 Background of the study ........................................................................................................................64 9.2 Objectives and Scope of the Study .....................................................................................................65 9.3 Risk Identification .....................................................................................................................................66 9.3.1 Internal Risks .................................................................................................................................66 9.3.2 External Risks .................................................................................................................................68 9.4 Research Methodology ............................................................................................................................68 9.4.1 Risk Mitigation Policies ..............................................................................................................68 9.5 Indicative parameters for the study ..................................................................................................69 9.6 Data Collection ............................................................................................................................................70 9.7 Analysis of Financial Risks ....................................................................................................................74 9.8 Analysis of Operational Risk (Construction & Operation) ......................................................75 9.9 Analysis of Administrative and Legal Risks ...................................................................................77 9.10 Analysis of Technology Risk ..............................................................................................................78 9.11 Analysis of Organization and HR Risk ...........................................................................................79 9.12 Analysis of Environment and Political Risks ..............................................................................80

TABLES Table 1. List of NBA accredited B-Schools in Kerala.................................................................................... 15 Table 2. Specialisations offered by existing institutes........................................................................... 21 Table 3: Institute attributes and its levels..................................................................................................... 29 Table 4. The importance level of attributes.................................................................................................. 31 Table 5. Attribute level utilities for conjoint profiles................................................................................ 31 Table 6. Marketing strategies performance matrix.................................................................................. 34 Table 7. Optimization analysis for marketing communication............................................................ 37 Table 8. Building Infrastructure estimates................................................................................................. 51 Table 9. Human Resource plan under scenario 1.................................................................................... 56 Table 10. Human Resource plan under scenario 2................................................................................. 58 Table 11. Library and computer center operational expenses under scenario 1...................... 60 Table 12. . Library and computer center operational expenses under scenario 2.................... 60 Table 13. Student fee details............................................................................................................................. 61 Table 14. Management Development Programmes revenue and operational expenses....... 62 Table 15. Consulting Programmes revenue and operational expenses......................................... 62 Table 16. Internal risks and their explanations........................................................................................ 67 Table 17. External risks and their explanations....................................................................................... 68 Table 18. Overview of survey questions...................................................................................................... 70 Table 19. Average respondent ratings for risk analysis....................................................................... 71 Table 20. Statewise individual ratings summarised.............................................................................. 73 Table 21. Statewise collated ratings.............................................................................................................. 74 Table 22. Financial risk analysis..................................................................................................................... 74 Table 23. Operational risk analysis................................................................................................................ 75 Table 24. Administrative and legal risk analysis..................................................................................... 77 Table 25. Analysis of technology risk............................................................................................................ 78 Table 26. Analysis of organization and HR risk........................................................................................ 79 Table 27. Analysis of environmental and political risks...................................................................... 80 Table 28. Overview of aggregate risk scores............................................................................................ 82 Table 29. Risk analysis recommendations and design controls....................................................... 84

FIGURES Figure 1: Proposed Markaz knowledge city............................................................................................... 03 Figure 2. Overview of Methodology Used...................................................................................................... 09 Figure 3. Enrolment scenario for Masters Education in India.............................................................. 10 Figure 4: Comparison of post-graduate engineering and management courses........................... 10 Figure 5. Enrolment in PG courses in management.................................................................................. 12 Figure 6. Breakeven analysis of PGDM programs (based on average market scenario)............ 12 Figure 7. Breakeven analysis of MBA programs (based on average market scenario)............... 12 Figure 8. NBA accredited B –schools and other top B-Schools in Kerala...................................... 14 Figure 9. Number of foreign academic tie Sups of PGDM and MBA Institutes............................ 16 Figure 10. Foreign academic tie-up programs.......................................................................................... 17 Figure 11. Average placement salary comparison in PGDM and MBA Institutes...................... 18 Figure 12. Placement percentage comparison of PGDM and MBA Institutes.............................. 18 Figure 13. Placement percentage data of PGDM Institutes................................................................. 19 Figure 14. Placement percentage data of MBA Institutes.................................................................... 19 Figure 15. Specialisations offered in PGDM Institutes.......................................................................... 20 Figure 16. Specialisations offered in MBA Institutes............................................................................. 22 Figure 17. PGDM Enrollment details............................................................................................................. 22 Figure 18. MBA Enrollment details................................................................................................................ 23 Figure 19. Student-Teacher ratio in existing bschools.......................................................................... 23 Figure 20. Facilities provided by PGDM Institutes.................................................................................. 24 Figure 21. Tuition Fees Comparison of existing B-schools...................................................................... 25 Figure 22. Factors affecting choice of higher education institute (Hanson and Litten model) 27 Figure 23. Factors identified from focus group discussions................................................................... 28 Figure 24. Marketing function........................................................................................................................... 33 Figure 25. Performance evaluation of various promotional activities.............................................. 35 Figure 26. Relational marketing strategies.................................................................................................. 35 Figure 27. Yearly growth of Islamic finance sector................................................................................. 40 Figure 28. World Tourism scenario............................................................................................................... 43 Figure 29. Proposed organization structure.............................................................................................. 46 Figure 30. Breakeven Analysis......................................................................................................................... 50 Figure 31. Overview of various internal risks........................................................................................... 66 Figure 32. Risk assessment methodology used........................................................................................ 69 Figure 33. Average respondent ratings graphical representation................................................... 72 Figure 34. Graphical representation of Financial Risk Analysis........................................................ 74 Figure 35. Financial risk matrix...................................................................................................................... 75 Figure 36. Impact on project due to construction................................................................................... 76 Figure 37. Impact on project due to operations....................................................................................... 76 Figure 38. Construction risk matrix............................................................................................................... 76 Figure 39. Operational risk matrix................................................................................................................. 77 Figure 40. Impact on project due to administrative and legal risks................................................ 77 Figure 41. Administrative and legal risks matrix.................................................................................... 78 Figure 42. Impact on project due to technology risk............................................................................. 78 Figure 43. Technology risk analysis matrix............................................................................................... 79 Figure 44. Impact on project due to organization and HR risks........................................................ 79 Figure 45. Organization and HR risk matrix.............................................................................................. 80 Figure 46. Impact on project due to environmental and political risks ....................................... 80 Figure 47. Environmental and political risk matrix ............................................................................. 81 Figure 48. Aggregate risk profiles ................................................................................................................ 81 Figure 49. Pareto chart on aggergate risk scores .................................................................................. 82 Figure 50. Risk intensity profile analysis .................................................................................................. 83



1. INTRODUCTION AND OBJECTIVE OF STUDY

1. INTRODUCTION AND OBJECTIVE OF STUDY A IMER is envisioned as an institution at par with global standards with AACSB (The Association to Advance Collegiate Schools of Business) accreditation. Synonymous with the highest standards of excellence since 1916, AACSB provides quality assurance, business education intelligence, and learning and development services to over 1,700 member organizations and more than 840 accredited business schools worldwide. With a mission to excel in providing world-class education with emphasis on delivering a holistic learning experience, AIMER will be the first of its kind in North Kerala. The institute stands on the three pillars of applied learning, cutting edge research and consulting along with industry interaction. The courses are continuously updated to match the latest industry requirements and are designed in consultation with leading academicians and industry leaders worldwide. This helps the students to stay ahead of the race so that they are not just a resource that is immediately ready to join the workforce but are leaders that drive the economy. AIMER will provide full-time AICTE (All India Council for Technical Education) accredited PGDM (Post Graduate Diploma in Management) program, other short term programs designed for working executives and entrepreneurs/ start-ups. In order to plan the execution of the project, we initially conducted a market study considering the management education scenario in the country. The secondary data analysis was further complemented by primary data collected from various stakeholders including prospective students, parents and faculties from other reputed business schools across the country. Finally, a detailed risk analysis was conducted followed by design control and recommendations. 1 AIMER - Detailed Project report

2. MARKAZ KNOWLEDGE CITY

2. MARKAZ KNOWLEDGE CITY A prestigious and distinct project of Markaz, whose Figure 1: Proposed Markaz knowledge city foundation stone was laid in December 2012, at Kaithapoyil just 40 km from the city of Calicut, Kerala, India, is an integrated township for LEARNING, LIVING, and LEISURE. What makes it distinct is its enormousness and uniqueness for being one of its kind in South India. Estimated at 10 million and spread over 125 acres of lush greenery, the City is located close to Wayanad, one of the country’s finest tourist destinations. The City overlooks a breath-taking scenic view, accessible by all means, thus giving everyone ample opportunities. Conceived with the idea of growing and promoting the city as a center of International excellence, this integrated township provides the infrastructure for: 2.1 MARKAZ KNOWLEDGE CITY – EDUCATION The Markaz Knowledge City is a self-sustained educational hub providing world- class education from pre-school to postgraduate courses; the city campus intends to provide instruction in diverse fields like engineering, medicine, graduate courses, law, and management. The seamless campus comprising of 7 blocks with residential facilities for 5,000 students and over 500 faculty members has been conceived as an eco-friendly campus that minimizes the ecological footprint. The Knowledge city campus would also provide training facilities for various extracurricular, job oriented, and personality development activities. The teaching blocks have been planned with the most modern E-learning facilities, Digital Classrooms, Lecture Halls & Studios, Seminar hall & Auditorium with most modern audio-visual facilities. The Campus has a central digital library and Research & Development Centre to interact & share their interests and ideas with the world and their colleges. 3 AIMER - Detailed Project report

UNANI MEDICAL COLLEGE MARKAZ LAW COLLEGE 2.2 MARKAZ KNOWLEDGE CITY – HEALTH The Multi-Specialty Hospital in Markaz Knowledge City is an all-round solution for Health care for the city natives & dependents. The 100 bedded Specialty hospital is fully equipped with state-of-the-art Labs with modern Instruments, fully equipped Operating Suites, Labor Complex & 24 X 7 Trauma Care. HOLISTIC WELLNESS CENTRE The entire hospital is designed and structured for the easy movement of patients. The hospital is filled in with natural sunlight & greens, making it a pleasant place. Technological superiority forms the backbone for the human medical resources to deliver their services efficiently and safely. The Hospital is equipped with the latest, state-of-the-art medical and surgical equipment to provide the best and safest medical care. AIMER - Detailed Project report 4

2.3 MARKAZ KNOWLEDGE CITY – CAREER The information technology (IT) industry in India has played a vital role in putting India on the global map. IT industry has made possible information access at gigabit speeds; it has made a tremendous impact on the lives of millions of people who are poor, marginalized, and living in rural & far-flung topographies The Knowledge City is the right platform for IT-based investment. The City has all the necessary amenities for a knowledge-centric economy, including engineering colleges, residential facilities, leisure & shopping facility, etc. Moreover, The Cyberpark initiative, various infrastructure projects, public business investments from the NRI groups, low human resources costs, high literacy, and easy availability of talent pool. Low attrition rates, low to moderate real estate costs, inexpensive cost of living etc., are expected to attract more IT/ITES companies and other knowledge-based industries of Kozhikode. 2.4 MARKAZ KNOWLEDGE CITY – RESIDENTIAL It provides more than 40 state-of-the-art amenities to its residents. Opulence lifestyle is guaranteed while taking care of the customer expectations without any compromise. It offers top-quality studio and single bedroom apartment units that bring together the twin elements of your life – work and home. Since the apartment complex in the city is surrounded by a compound wall and security personal, each resident’s safety is intact.24x7 safety and security measures and surveillance make living hassle-free. 5 AIMER - Detailed Project report

RESIDENTIAL COMMERCIAL CUM RESIDENTIAL Innovative architecture and creative use of space make the apartments ideal for various purposes – homes, office spaces, and services apartments. It will be the perfect address for business people, professional consultants, advocates, and entrepreneurs alike who wish to manage their offices from within the convenience of their homes. Besides, it is a smart investment choice in Calicut’s everyday growing economy. The apartment towers having commercial floors will be utilized as ‘quick start-up spaces’ for the other components in the city like Educational institutions, Health care centers, Travel and Tourism, Restaurants, and for other commercial facilities which are to facilitate and bring up all the necessities under one roof initially until individual components become self- sufficient. 2.5 MARKAZ KNOWLEDGE CITY – COMMERCIAL 2.5.1 Hotel & Convention Centre The Hotel & Convention center complex in Markaz Knowledge City offers its visitors an unforgettable experience and sets new design & luxury standards. With the provision for information technology campus and MICE segment in the tourism industry, the Hotel offers an environment specially designed for meetings and conventions. AIMER - Detailed Project report 6

2.5.2 Traditional Souk Shopping Malls have great potential in the state as the majority of Keralites have already experienced this overseas. The state has one of the highest per capita income in the country. More Kerala based business groups are entering this sector as part of their extended diversification. 2.5.3 World-Class Restaurants and Cuisine Fusion The world-class restaurants in Markaz Knowledge City will cater to Malabar, Arabian and Turkish cuisines and the splendid scenic views of the city. To make it more special and unique, there will also be a ‘sweet junction’ where you can find the mix of Malabar, Arabian, and Turkish sweets and deserts. Only halal food will be available throughout the city. 7 AIMER - Detailed Project report

3. MARKET STUDY

3. MARKET STUDY 3.1 Why Business Administration, Why not other programs? Higher educational institutions (HEIs) fundamentally open up several opportunities for students to hone their skills, advance their academic careers, and achieve the desired professional development. The choice-making exercise of programs in general and graduate programs in higher education institutions (HEIs) is an important consideration for the students. In the following sections, we elaborate on the methodology adopted and results that justify the selection of Post Graduate Diploma in Management (PGDM) as the best option based on secondary and primary market study. The market research design is covered subsequently. Data used and how they were collected is also explained in this section. 3.2 Methodology Figure 2. Overview of Methodology Used Initially, we explore the market potential through secondary data analysis, followed by mapping the scenario to post-Covid trends. This is followed by identifying prospective students’ preferences using primary data that include focus group discussions and interviews. The primary research design has two main objectives: (1) to identify the drivers of masters education of prospective students (2) to examine the trade-offs students are willing to make when deciding where to study. To accomplish the objectives, we use in-depth interviews, surveys, and focus group discussions on determining the contributions of various factors when attempting to decide the student preferences and establish a valid model of their judgments. Post identification of the model, we make predictions about consumers’ acceptance of various attributes. 9 AIMER - Detailed Project report

3.3 Secondary Data Analysis Enrolment scenario for Masters in India Figure 3. Enrolment scenario for Masters Education in India Business administration is one of the world’s most sought-after higher education programs, second only to Engineering and Technology. The high enrolment for masters in Engineering and Technology is due to declining entry barriers for admission towards such programs with the increasing number of technical education institutes in the country, change in fee structure, etc. The total number of AICTE approved engineering colleges in the country stands at 6163, whereas it is 3069 in management colleges. The enrolment in management education (2,42,311 in the year 2019: Source AICTE) is impressive despite the vast difference in fee-considering the merit scholarship provided to GATE qualified applicants in India-charged by management colleges compared to engineering colleges. We conducted further secondary data analysis to identify the comparative pros and cons of investment in masters programs in engineering (M. Tech) and management (MBA/PGDM), which are the two most highly subscribed postgraduate courses in the country. 3.4 Post Graduate Engineering and Management Courses – A Comparative Analysis Figure 4: Comparison of post-graduate engineering and management courses AIMER - Detailed Project report 10

3.4.1 Target Market Maters is engineering is a program that is more oriented towards students seeking a career in academia and research than masters in business, a sought after program for students seeking to climb the corporate ladder. Therefore, the average salary of students passing out is on an average 50% higher in business schools, thereby justifying the huge fee charged by such institutes. Business schools’ placements attract major banks to finance the business schools’ hefty fees at a nominal interest. This is not the same case when it comes to masters in engineering, where students mostly limit their education budget to government fellowships offered based on merit. 3.4.2 Entry Barrier The AICTE requirements for launching masters in technical education establish standards and criteria for eligibility which involves experience in under graduate engineering education, approval of courses in new and emerging areas like artificial intelligence, block-chain technology, robotics, and quantum computing, etc. This poses entry barriers for new institutes that envision starting a masters in engineering, like the availability of faculties specializing in the area, huge infrastructure requirements for setting up high-speed computing facilities, and robotics labs. However, this is comparatively low for Masters education in business where the infrastructure investment is less and expert faculties are also available. 3.4.3 Competition The number of NBA accredited engineering programs in Kerala stands at 61 compared to just 7 NBA accredited management education programs in the state. This signals the absence of quality business education and the heavy competition in the case of engineering colleges. There are no AACSB accredited business schools, the leading international system of quality assessment, improvement, and accreditation of business schools. 3.4.4 Revenue Channels The almost entire revenue of engineering colleges come from tuition fee alone. In contrast, apart from revenue earned through student fees, management institutes can generate income from training programs and consulting. This also helps retain top talent in business schools where faculties have more opportunities for additional sources of revenue. 3.5 PGDM/MBA choice based on secondary data Figure 4 - 5 shows an overview of students’ enrollment in MBA programs versus PGDM programs (Unaided private). We find a drastic difference between MBA and PGDM programs when it comes to the overall enrolment of students. While 2,13,484 students enrolled for PGDM programs, hardly 8,647 students enrolled for government and government-aided MBA. This is due to the greater industry connect offered by PGDM programs through constant updating of the syllabus in contrast to university-managed MBA where updating of syllabus takes five years on average, industry tie-ups, opportunities for summer placements, etc. The high enrollment is despite the fact that the average fee for MBA programs stands at INR 1.5 lakhs per annum compared to INR 3.5 lakhs per annum for PGDM programs. Figure 6 and 7 provides an average break-even analysis for MBA and PGDM programs. We find that the break-even period for MBA programs (16 years) is almost twice that of PGDM programs (8 years). 11 AIMER - Detailed Project report

Figure 5. Enrolment in PG courses in management Figure 6. Breakeven analysis of PGDM programs (based on average market scenario) Figure 7. Breakeven analysis of MBA programs (based on average market scenario) AIMER - Detailed Project report 12

4. COMPETITOR ANALYSIS

4. COMPETITOR ANALYSIS 4.1 Kerala’s Management Education Scenario 4.1.1 Growth Scenario of the State Kerala is one of the fastest-growing economies in the country. Kerala’s Gross State Domestic Product (GSDP) grew at a CAGR of 11.72% between 2015-16 and 2020-21. With 96.2% literacy, Kerala tops the Literacy rate chart in the country. Even with these achievements, the state still faces a lack of quality Management education and employability issues. Despite the rise of Kerala’s management institutions, it still cannot cater to a large chunk of aspirants looking for quality education, exposure, and placements. 4.1.2 Business Schools in Kerala More than 133 business schools in Kerala are mostly providing MBA and very few with PGDM program. PGDM institutes are gaining popularity due to the following reasons: » Course is designed according to the industry requirements » More choice of specializations » Skill development program » Better placement opportunity » Foreign exposure » Internships enabling practical exposure » Develops managerial and leadership skills » Well experienced faculties from various fields 4.1.3 Top B-Schools in Kerala Figure 8. NBA accredited B –schools and other top B-Schools in Kerala AIMER - Detailed Project report 14

Accreditations like NBA, AICTE approved, MBA equivalence also play a key role in identifying the top B-schools. Among the Top B Schools 8 of them are selected and listed below for comparison where 5 B – schools offer MBA program and rest 3 offering PGDM programs. The above listed Top B-schools are primarily located in southern and central Kerala. The number of renowned B-schools towards northern Kerala are less. Most of the students from north Kerala aspiring to pursue MBA/ PGDM in Kerala have to opt for any of these B – schools. The affiliated universities provide the institutions offering MBA degrees, and in the case of PGDM courses, it is provided by the colleges or autonomous institutions with the approval of the All India Council for Technical Education (AICTE). PGDM courses’ fees are higher when compared to MBA degree courses, justifying being the best facilities and practical exposures provided to the students. The MBA institutes have to follow the affiliated university’s norms regarding determining the fees and curriculum. 4.2 NBA Accredited Institutes in Kerala NBA is a credible system of accreditation that helps maintain qualitative competence of the programs offered by educational institutions from diploma level to post-graduate level in engineering and technology, management, pharmacy, architecture, and related disciplines approved by AICTE. The NBA accredited PGDM & MBA institutions in Kerala are listed below: Sl No Institute Name Location Program Name 1 Rajagiri Business School Ernakulam PGDM (Full Time) 2 The SCMS – Cochin School of Business Ernakulam PGDM (Full Time) 3 SCMS School of Technology and Management Ernakulam MBA (Full Time) 4 Saintgits Institute of Management Kottayam MBA (Full Time) 5 CET – School of Management Trivandrum MBA (Full Time) 6 TKM Institute of Management Kollam MBA (Full Time) 7 Marian International Institute of Management Idukki MBA (Full Time) Table 1. List of NBA accredited B-Schools in Kerala 15 AIMER - Detailed Project report

4.3 Enrolment in PGDM and MBA programs The total seats in the above listed NBA accredited PGDM institutes are 180, and their average intake is 83.9 %. While in the MBA institutes, total seats are 120, and the average enrolment is 83.5%. The enrolment ratio in PGDM institutes is higher when compared to MBA institutes. NBA accredited institutes can increase their intake according to the norms and approval of AICTE. 4.4 Infrastructure Facilities of PGDM/ MBA programs All NBA accredited PGDM and MBA institutes provide the best in class infrastructure facilities to the students like smart classrooms, Computer Lab, Library, Gym, Indoor, and Outdoor sports, Cafeteria, Hostel Facilities, etc. PGDM course being more practical oriented and provide additional facilities like Discussion Rooms, Board/ Conference Rooms, Group Learning Centre, Amphitheatre, etc. 4.5 Overview of PGDM Programs 4.5.1 Industry and academic tie-ups Academic and Industry tie-up plays a vital role in PGDM institutes. It widens the scope of placement and internship opportunity with reputed organizations and enables the students to experience practical exposure in the real industry scenario. Among the Top 8 B schools selected as samples, the PGDM institutes have more academic tie-ups with foreign Institutes for providing various educational programs. Among the 5 MBA institutes, only 2 Institutes have a couple of foreign institution tie-up. This certainly differentiates the fact that PGDM institutes focus more on enhancing students’ practical knowledge, making them Industry ready to face the competition. PGDM INSTITUTES WITH MBA INSTITUTES WITH FOREIGN ACADEMIC TIE UPS FOREIGN ACADEMIC TIE UPS 45 24 15 21 RAJAGIRI SCMS XIME TKM SAINTGITS They have academic They have academic They have academic They have academic They have academic tie up with 45 Foreign tie up with 24 Foreign tie up with 15 Foreign tie up with 2 Foreign tie up with 1 Foreign Institutions Institutions Institutions Institutions Institutions Figure 9. Number of foreign academic tie Sups of PGDM and MBA Institutes AIMER - Detailed Project report 16

4.6 PGDM – Academic programs with foreign tie-ups Some of the academic programs with Foreign Tie-up offered by PGDM institutes are: PGDM 1 TWINNING PROGRAMME FOREIGN Students can complete first part of the programme in ACADEMIC one country and next part in another. TIE UPS 2 SEMESTER ABROAD PROGRAMME For 1 semester the students can take-up a few courses and /or a Major project in reputed foreign universities 3 DUAL DEGREE PROGRAMME Provides students the opportunity to pursue two degrees 4 SUMMER SCHOOL PROGRAMME 2 week International summer school programmes 5 STUDENT OVERSEAS INTERNSHIP PROGRAMME A choice for students to opt for internship abroad 6 INCOMING STUDENTS The Students from Foreign Universities having tie up can also apply for above programs (2 -5) Figure 10. Foreign academic tie-up programs All the International Tie-up programs attract additional fees that the student has to bear while applying for the respective international program. 4.7 Placements in PGDM & MBA Institutes Placements have always been a consistent factor that tops the list for most PGDM/ MBA aspirants. 4.7.1 Average Placement Salary The campus placements (as per the NIRF reports), among the selected top 3 PGDM institutes, the highest average placement salary is 6.37 lacs in XIME, Kochi and the lowest being 4.5 Lacs in Rajagiri business school. While in the case of the MBA Institutes, the average placement salary is far lower than that of the PGDM Institutes. The average placement salary of Saintgits is 3.8 lacs, followed by TKM with 3.7 lacs. The figures indicate that the recruiters are willing to provide good pay packages for PGDM students. 17 AIMER - Detailed Project report

AVERAGE PLACEMENT SALARY – PGDM vs MBA PGDM MBA 10L 10L 9L 9L 8L 8L 7 L 6.37L 5.25L 7L 6L 6L 4.5L 5 L 5 L 3.8L 3.7L 4L 4L 3L 3L 2L 2L 1L 1L XIME SCMS RAJAGIRI SAINTGITS TKM Figure 11. Average placement salary comparison in PGDM and MBA Institutes 4.8 Placement Percentage Comparison The average placement salary alone cannot decide the placement standard of a b-school. The number of students placed among the total enrolled students is another crucial factor to rate a B-school in terms of its placement. Placement percentage comparison of PGDM and MBA institutes is given below: Figure 12. Placement percentage comparison of PGDM and MBA Institutes AIMER - Detailed Project report 18

Placement percentage of PGDM institutes show an average of 84% while in MBA institutes its just about 69%. Considering the placement percentage of individual PGDM institutes, XIME tops with 92% followed by Rajagiri at 82% and SCMS at 77%. 4.9 Industry wise Placement Industry wise placement statistics will give a clear picture on the participating companies. It also helps in identifying the top recruiting sectors/ domains. The industry wise statistics also reveal the market condition. Figure 13. Placement percentage data of PGDM Institutes Figure 14. Placement percentage data of MBA Institutes 19 AIMER - Detailed Project report

4.10 Programs & Specialisations The common specializations offered by both PGDM and MBA programs are: a) Marketing b) Finance c) Human Resource d) Operations e) International Business f) Systems Management Other Specialisations offered by PGDM institutes are: a) Business Intelligence b) Retail Management c) IT & Analytics A detailed institution wise specializations offered comparison is given in table 2: The percentage-wise comparison of specialization offered in the selected sample of 3 PGDM institutes are given below: Table 2. Specialisations offered by existing institutes Figure 15. Specialisations offered in PGDM Institutes AIMER - Detailed Project report 20

Institute Program Dual Specialisation Marketing Finance Human Operations Business Systems International IT and Retail Name Available Resource Intelligence Management Business Analytics Management 21 AIMER - Detailed Project report Rajagiri PGDM Yes √ √√ √ √ X √XX SCMS PGDM Yes √ √√ √ X √ XX √ XIME PGDM Yes √ √√ √ X X X√ X SAINTGITS MBA No √ √√ √ X √ XX X TKM MBA Yes √ √√ √ X √ XX X MARIAN MBA Yes √ √√ √ X √ √XX CET MBA Yes √ √√ √ X X XX X CUSAT MBA Yes √ √√ √ X X XX X Table 2. Specialisations offered by existing institutes

The percentage-wise comparison of specialization offered in the selected sample of 5 MBA institutes are given below: Figure 16. Specialisations offered in MBA Institutes 4.11 Enrolment and Occupancy Ratio The total seats in most of the top PGDM Institutes are 180, while that of MBA institutes is 120 and the average enrolment ratio of PGDM institutes is 83.9% and wherein MBA institutes is 83.5%. PGDM -TOTAL SEATS vs ENROLMENT PGDM- ENROLMENT RATIO 140 100% 85% 120 120 120 120 120 120 102 97 82 100 MARIAN TKM 80 81% 68% 60 40 20 0 TKM SAINTGITS CET MARIAN Total Seats Total Enrolment SAINTGITS CET Figure 17. PGDM Enrollment details AIMER - Detailed Project report 22

MBA -TOTAL SEATS vs ENROLMENT MBA- ENROLMENT RATIO 200 100% 87% 180 180 180 180 160 140 120 104 120 117 100 RAJAGIRI XIME 80 65% 60 40 20 0 XIME SCMS RAJAGIRI Total Seats Total Enrolment SCMS Figure 18. MBA Enrollment details 4.12 Students – Teacher Ratio According to the NBA accreditation rules, the PG Management programs must have 25 students per teacher for 3 years of accreditation and 15 Students per teacher for 6 Years of accreditation. Only permanent faculty with PhD. will be considered. Among the Top PGDM Institutes taken in the sample, SCMS has the best Student-teacher ratio of 6 students per teacher and XIME scores lower at eight students per teacher. Here while calculating the Student-Teacher Ratio, all permanent faculties of the institution irrespective of the PhD qualification are considered. PGDMInstitutes- Number of Students/Teacher 6: 1 7:1 8:1 SCMS RAJAGIRI XIME MBAInstitutes- Number of Students/Teacher 6:1 7:1 8:1 9:1 SAINTGITS TKM MARIAN CET Figure 19. Student-Teacher ratio in existing B-schools 23 AIMER - Detailed Project report

4.12.1 PGDM Facilities PGDM institutions offers a combination of world-class amenities, resources, curricular and extra-curricular activities that goes a long way in ensuring a productive campus life. Some of the unique facility provided by PGDM Institutes include Wifi enabled campus and Hostels, Group learning centres & Amphitheatre. The common and unique Infrastructure facility offered by PGDM Institutes are given below: 1S M A R T C L A S S R O O M S PGDM FACILITIES CONFERENCE HALLS 2 PGDM UNIQUE FACILITIES FACILITIES COMPUTER LAB 3 PGDM UNIQUE 1 GROUP LEARNING FACILITIES FACILITIES CENTRE LIBRARY 4 PGDM UNIQUE 2 WI-FI FACILITIES FACILITIES CAMPUS GYMNASIUM 5 PGDM UNIQUE 3 AMPHITHEATRE FACILITIES FACILITIES HOSTEL FOR BOYS 6 PGDM AND GIRLS FACILITIES 7I N D O O R A N D O U T D O O R PGDM FACILITIES GAMES FACILITY Figure 20. Facilities provided by PGDM Institutes 4.12.2 Incubation Facility: » The PGDM Institutes like Rajagiri & XIME provides Incubation facility with the aim of inculcating entrepreneurial skills in the minds of students and young innovators. » Rajagiri Business School has a strong tie-up with Kerala Startup Mission (KSUM) under Govt. of Kerala for a startup in IT and with Kerala State Industry Development Corporation (KSIDC) for Non-IT start-ups. » They also conduct a Business Plan Competition to encourage the ideas and supports to incubate the enterprise 4.12.3 Tuition Fees The Institutions offering MBA have to follow restrictions imposed by the affiliated Govt. Universities on Tuition Fees collected from students. The fees of PGDM programs are higher when compared to MBA. Among the below selected top PGDM institutions, SCMS & XIME charges a Tuition fee of ₹7.5 lacs followed by Rajagiri at ₹7 lacs for 2 year PGDM course. While on the other hand, MBA Institutes charges tuition fee ranging from ₹1.5 lacs to ₹4 lakh for 2-year degree program. AIMER - Detailed Project report 24

Figure 21. Tuition Fees Comparison of existing B-schools For fully Residential courses, an average of Rs. 84000 per year will also be collected as Hostel and Mess fee. 25 AIMER - Detailed Project report

5. PRIMARY DATA ANALYSIS

5. PRIMARY DATA ANALYSIS H igher educational institutions in management enable students to advance their careers and also help them achieve the professional development they aspire for. Therefore, the choice- making exercise for graduate management programs is an important issue of consideration, yet it remains a dilemma for most students. Traditionally, most business schools and universities provide degree programs similar to the undergraduate and post-graduate levels. The absence of unique offerings has increased competition intensity for students in graduate management programs in the state. Therefore, new business schools must understand the context-specific variables that significantly influence the students’ choice of management schools and programs. This will guide the management to prioritize their offerings by making decisions grounded in empirical evidence. This will also provide feedback for designing the programs and strategies that can attract and retain local and international students and faculties. 5.1 A conceptual framework for primary data analysis We base our subsequent primary data analysis on the popular hybrid models of choice of higher education attainment. We use the Hanson and Litten model to base our questionnaires and focus group discussions to provide feedback for designing the programs and strategies that can attract and retain both local and international students and faculties. This is a hybrid model that is holistic because it encompasses elements from both the Jackson Three-Phase model and the Chapman model. The initial stage of this three-stage model indicates that a student initially decides to take part in graduate education. In the second stage, the student gathers information about the institutions and shortlists an initial list of institutes. In the last stage, the student applies and enrolls for the program. There are five distinct processes that a student passes through having college aspirations; starting the search process; gathering information; sending applications; and enrolling. The figure below shows some of the significant variables indicated in the model. The five-step process introduced by Hanson and Litten indicates the importance of multiple variables that affect a higher education institute’s choice. Figure 22. Factors affecting choice of higher education institute (Hanson and Litten model) 27 AIMER - Detailed Project report

5.2 Step 1: Focus Group Discussions Five online focus group discussions (FGD) were used to collect the data in order to identify the factors affecting the choice of graduate studies in management. This study was conducted in August 2020, consisting of participants representing diverse backgrounds from different states in the country. The individuals were informed about the study’s purpose over the phone and were invited to attend the meetings. The focus discussion panels consisted of one discussion leader and 15 participants, each composed of undergraduate students, professionals, and parents of undergraduate students representing different regions in the country. According to this methodology, the participants were probed based on a semi-structured guide containing several open questions and introductory questions. The guide familiarized, directed, and created focus among the participants on the purpose of the study. A qualitative content analysis was used to analyze the data. A total of 60 people participated with different age, race, and background. Of these, 35 were men and 25 women. We combine the findings from the focus group interviews and the Hansen and Litten model to identify factors that influence the choice of a graduate management program. The outcome of the focus group interviews resulted in 15 items, which were used to develop the questionnaire for the subsequent survey. The various factors which were identified as part of the focus group discussion is shown below: Figure 23. Factors identified from focus group discussions AIMER - Detailed Project report 28

5.3 Step 2: Survey The focus group discussions were followed by a self-administered, structured questionnaire that was conducted among 350 participants. We invited responses to the questionnaire items using a five-point Likert scale ranging from strongly disagree to strongly agree, which was coded 1 to 5, respectively. We also incorporated a section for demographic variables (gender, age, income, the programme of study, previous school attended, and residence). Also, we included a section for evaluating the factors that determined their choice of master’s education in management. The face and content validity were verified and ensured by two experts in research methodology. The item and construct reliability for all the 15 initial items were ascertained using the Cronbach alpha generated from the output. The analysis is carried out using a quantitative approach, that is, conjoint analysis, to study the preferences of the MBA/PGDM market in choosing an institute for study. Our rationale behind choosing Conjoint analysis was because this method is renowned, well-tested, and employed in many industries, including higher education, and helps in understanding consumer preferences. It helps measure the trade-offs made while consumers make choices about the attributes or factors of products or services, hence providing a fair assessment and results. Therefore, the conjoint analysis was identified as the best method that helps in assessing the formation of choices and the components affecting preferences toward a service while ensuring that a natural or realistic decision-making process is maintained. Table 1 shows the various institute attributes and levels used for the conjoint analysis. Attributes Attribute Levels Program accreditation A: NBA B: AACSB Institute’s ownership status A: Private Unaided B: Private Aided Location of the institute A: Easy access to city B: Easy access to tourist places Total tuition fee A: INR 3-6 lakhs B: INR 6-9 lakhs C: INR 9-12 lakhs D: INR 12 lakhs and above Average salary during placements A: INR 5-10 lakhs B: INR 10-15 lakhs C: INR 15-20 lakhs D: INR 20 lakhs and above International collaboration A: Present B: Absent Program structure A: One year post graduate certificate program in management B: Two year post graduate diploma in management C: Part-time post graduate diploma in management Table 3: Institute attributes and its levels 29 AIMER - Detailed Project report

Private Unaided Easy access to tourist places AACSB Accredited Fee INR 12 lakhs and above Average salary International Two year PGDM INR 20 lakhs and collaboration above 46 After identifying the attributes and levels, the various attributes and levels were processed for assessment. We combined these attributes and their levels through conjoint analysis and developed these into institute profiles to be assessed by respondents. A total of 140 profiles were developed but we reduced it further to 16 profiles to measure trade-offs made by the respondents and estimate the utility. We used a fractional factorial design through the orthogonal design program in SPSS software. The 16 profiles were circulated to respondents for assessment and ranking, who rated each profile on a 10-point Likert scale based on their preference. The figure above shows an example of the profile as assessed by the respondents. We identified the target audience as prospective MBA/PGDM students, that is, Indians who considered pursuing an MBA/PGDM program, having an undergraduate degree, and who did not enroll previously in any master’s degree program. We ensured that the samples obtained were from within the population of interest through screening questions that eliminated respondents did not have an undergraduate degree, who had attended or were currently attending any postgraduate program, and finally, who were not considering an MBA or PGDM as an option. From 500 online questionnaires sent and returned, a total of 350 respondents were identified to pass all the screening questions and was selected as the final sample for analysis. The final 350 samples consisted of 57% males and 43% females. 40% were from Kerala, and the remaining 60% were from the rest of the parts of the country. 98% of respondents were more than 21 years old. 52% were married, and 40% were having full – time employment. 85% of the respondents preferred private unaided institutes for their masters. 82% of the respondents were from an engineering background in their undergraduate degrees, and the remaining were from commerce and arts. The respondents indicated the top three reasons for pursuing higher studies in management as improvement in career prospects (55%), learning new skills (30%), and to migrate to other countries (15%). We also gathered information regarding the popular media that respondents choose to gather information. The most popular sources used by respondents to get general information were social media (75%) and friends (55%). Respondents seek more information about the program through websites (82%) and social media (40%). The most popular social media used by the sample were Instagram (85%) and Facebook (70%). AIMER - Detailed Project report 30

The results from the conjoint analysis denote the level of importance for the respondent group for each attribute. This is indicated in the importance value percentage that sums up to 100%. We find that of all factors, the top three most important attributes were total tuition fees with an importance value of 27%, followed by lecturing time with an importance value of 24%, and MBA program accreditation with an importance value of 22%. Lecturing days (19%), university ownership status (7%), and university location (1%) were shown to have the least importance in decision making. Attributes Importance values Contrasts Total tuition fees (T) 29.76 T>S>O>P>C>L Average salary during placements (S) 25.08 Institute’s ownership status (O) 22.43 Program structure (P) 10.12 International collaboration 6.75 Location of the institute (L) 5.86 Table 4. The importance level of attributes Attribute Attributes level Utility Standard Contrasts Estimates Error T2 > T3 > T1 > T4 Total tuition fees (T) INR 5-10 lakhs (T1) 0.13 0.02 S4 > S3 > S2 > S1 INR 10-15 lakhs (T2) 0.42 0.02 PU > PA PGDM > PGCM > INR 15-20 lakhs (T3) 0.19 0.07 PGDM INR 20 lakhs above (T4) -0.14 0.05 Average salary during INR 5-10 lakhs (S1) 0.09 0.01 placements (S) INR 10-15 lakhs (S2) 0.13 0.05 INR 15-20 lakhs (S3) 0.21 0.02 INR 20 lakhs > (S4) 0.29 0.05 Institute’s ownership Private Unaided (PU) 0.54 0.06 status (O) Private Aided (PA) -0.32 0.05 Program structure (P) One year post graduate 0.17 0.05 certificate program in management (PGCM) Two year post graduate 0.26 0.05 diploma in management (PGDM) Part-time post graduate 0.08 0.05 diploma in management (PGDM_PT) Table 5. Attribute level utilities for conjoint profiles 31 AIMER - Detailed Project report

6. MARKET STRATEGY

6. MARKET STRATEGY A marketing function encompasses an integrated foundation of (1) marketing activities(inside-out,outside-in,andboundary- spanning activities); (2) customer value- creating processes (3) networks (internal, vertical, Intermarket, and opportunistic); and (4) stakeholders (primary and secondary). We use Hult’s framework to design the market strategy according to which the implementation of marketing activities signals the superior capabilities of an organization. Figure 24. Marketing function 6.1 Marketing activities We develop three distinctive capabilities to structure the marketing activities in the organization. We primarily adopt a relational marketing approach in contrast to a transactional or hybrid approach considering the long-term interactions required with all the stakeholders such as the students, alumni, faculty, parents, industries, other institutions located within and outside the country, governments, investors, society, media, NGOs and others. We use three methodologies to further structure the relational marketing strategies of AIMER vis-à-vis inside-out(internal), outside-in (external), and spanning activities: • Inside-out processes: comprises of various internal resources and capabilities of the organization; for example, research, consulting, case and teaching materials, offline and online courses. These form the cornerstone of all academic contributions that directly or indirectly signal the quality of the institute. • Outside-in processes: act as a bridge between the processes that refine organizational capabilities and the external environment. This includes but not limited to industry tie- ups, taking up projects of social relevance and collaboration with other institutes located in various geographies. Having strong outside-in processes equips AIMER to compete globally by anticipating the challenges and opportunities well ahead and build long-lasting relationships with various stakeholders. • Spanning processes: integrate the inside-out and outside-in activities. These activities include various branding exercises online, and offline including both traditional methods such as media advertisements including social media marketing, and others such as management fests, industry-sponsored competitions, academic and industry-oriented conferences. Critical activities in the spanning process are, among others, strategy development, purchasing process, customer service development, customer service delivery, and new product/service development. 33 AIMER - Detailed Project report

Communication channels Extant of reach Probability Brand Recall Cost of targeted Probability for Newspaper front page ♠ impressions Target Audience ♠ advertisements ♠ ♠ ♠ ♠ ♠ Other newspaper ♠ ♠ advertisements ♠ ♠ ♠ ♠ ♠ ♠ Radio advertisements ♠ ♠ ♠ ♠ ♠ ♠ ♠ Television ♠ ♠ ♠ advertisements ♠ ♠ ♠ ♠ Career counselling ♠ ♠ ♠ ♠ events (international) ♠ ♠ ♠ Career counselling events (domestic) ♠ ♠ International ♠ ♠ practitioner conferences International academic conferences Management fests and competitions including case studies, leadership events etc Hoardings Facebook ads ♠♠♠♠ Linkedin ads ♠♠♠♠ Twitter ads ♠♠♠♠ Instagram ads ♠ ♠♠♠ Google ads ♠♠♠♠ YouTube ads ♠♠♠♠ Influencer marketing ♠ ♠ ♠ ♠ Table 6. Marketing strategies performance matrix ♠ probability between 0.00-0.20 ♠ probability between 0.60-0.80 ♠ probability between 0.80-1.00 ♠ probability between 0.20-0.40 ♠ probability between 0.40-0.60 AIMER - Detailed Project report 34

Figure 25. Performance evaluation of various promotional activities Figure 26. Relational marketing strategies 35 AIMER - Detailed Project report