Client: India’s 2nd largest franchisor of IT education, with sales of Rs. 170Cr. and franchisees in dozens of countries worldwide.
Promoter's Dream: To become the number one career education company in the emerging market space, with a future of sustained, profitable, growth.
The Avenues of Opportunity Recommended by OPENMIND
Focus Positioning but Broaden the Target: Though best known as an IT education company, the client has ventured unsuccessfully into unrelated segments, such as training airhostesses. OPENMIND recommended that the client focus on technology, but broaden its positioning to include technical vocational education. The client’s current target consumers are career seeking 18-22 year olds. By expanding its product line and broadening its consumer base to people of all ages, the client can uncover new opportunities for sustained, profitable growth.
Expand Beyond Emerging Markets: Though the client generates 40% of revenue overseas, it operates only in emerging markets, believing that developed countries have no additional requirement for career education. OPENMIND MD, Mr. Richard Rothman recommended that the client could discover huge opportunities for sustained, profitable growth by entering developed markets – as many of these have high unemployment, enormous buying power, and weak vocational education.
Anytime Delivery: The classroom is becoming a dinosaur; Mr. Rothman advised that a company that teaches technology should take the lead in redesigning its product offerings around digital delivery. OPENMIND recommended that the client could enhance its reputation, expand its client base, and recover enormous opportunities for sustained, profitable growth, by dramatically speeding up its efforts to provide anytime digital delivery of its education..
Actions Taken: The client appreciated and accepted the OPENMIND recommendations and is now into the implementation phase. There was top management involvement in the entire process and decision making.
The OPENMIND Advantage
Industry: The education industry is projected to grow at a Compounded Annual Growth Rate of 16-18% over the next five years.