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Case Study on Product Management for an ed-tech company (Biswadeep Ghosh Hazra) - [Zuperly] {IIFT}

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Case Study on Product Management for an ed-tech company (Biswadeep Ghosh Hazra) - [Zuperly] {IIFT}

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The competition asked 3 things to do-
1) Tracking down metrics related to learning, reading and writing- what would be required to track down on a daily, weekly, monthly and yearly basis?
2) Gamifying that whole setup for accomplishing objectives better
3) Helping in growing a community of learners who shall be accountable for their individual and community growth

I covered in detail the various aspects of-
1) Industry Overview
2) Competitor Analysis
3) TAM-SAM-SOM
4) Marketing Strategy
-Social Media Strategy (YouTube)
-Branding Strategy
5) Cost-Benefit Analysis

The competition asked 3 things to do-
1) Tracking down metrics related to learning, reading and writing- what would be required to track down on a daily, weekly, monthly and yearly basis?
2) Gamifying that whole setup for accomplishing objectives better
3) Helping in growing a community of learners who shall be accountable for their individual and community growth

I covered in detail the various aspects of-
1) Industry Overview
2) Competitor Analysis
3) TAM-SAM-SOM
4) Marketing Strategy
-Social Media Strategy (YouTube)
-Branding Strategy
5) Cost-Benefit Analysis

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Case Study on Product Management for an ed-tech company (Biswadeep Ghosh Hazra) - [Zuperly] {IIFT}

  1. 1. College: XIMB Team Name: Biswadeep Ghosh Hazra Email : UM19148@stu.ximb.ac.in Mobile: 9051707408 Incubate Case Study Solution ZUPERLY
  2. 2. 2.8 3.6 4.6 5.9 7.5 10.4 0 2 4 6 8 10 12 2020 2021 2022 2023 2024 2025 Industry Overview Market Size of the EdTech Industry in the coming years (in $ Bn) Popular EdTech Companies Market Composition School Level (Classes 1 through 12) Primary Upper Primary Secondary Higher Secondary Higher Education Graduation/Post graduation Business & Commerce Science & Technology Arts Corporate Skilling • 1.8 Million K-12 Schools, student base of 252 Million. 500 Million in the age group of 5-24 years • Education Sector was estimated at US$ 91.7 Bn in FY’18 and will reach US$ 101.1 Bn in FY’19 • Number of Universities in India- 993 Number of Colleges in India- 39,931 CAGR- 54.3% 65 30 29 16 11 6 0 10 20 30 40 50 60 70 The bar chart beside shows the % of people (amongst those surveyed) using an EdTech company in lockdown. Byju’s has made use of its heavy marketing campaigns along with the accelerated technological adoption that COVID-19 has bought amongst parents & students alike. Data collected represents the view of parents
  3. 3. Competitor Analysis The competitor analysis will help understand Zuperly’s position with respect to several key industry leaders By virtue of funding, Byju’s been able to market itself aggressively and garner lots of leads that finally convert into consumers (evident from 9,00,000 paid subscribers) • Unacademy and UpGrad has maintained its social media presence uniformly across all channels • Byju’s is the current market leader and has the most downloads (50 Mn+) as well as the best Alexa Site Rank (960). It also has the least time spent on website and consequently, the highest bounce rate (~66%) • Toppr has the least Indian visitors (66.3%) on its website suggesting it is popular in other countries too. Unacademy on the other hand, has almost entirely Indian visitors coming to its website (97.2%) • Unacademy’s engagement is better than all others with a Pageviews per visitor of 4.52 showing the importance of customer oriented design. Its traffic source from search is miniscule (38%) thereby showing how important Social Media is towards driving leads. Lesser number of people search up Unacademy as it is more accessible through Social Media • Site Optimization Opportunities indicate number of keywords the website could target to get better SEO results. Toppr and Byju’s are under-optimized while Upgrad is the most optimized Metrics Founding Year 2010 2013 2011 2015 2011 Type Private Private Private Private Private HQ Location Bengaluru Mumbai Bengaluru Mumbai Bengaluru Employees 2,919 1,943 9,000 1,000 3,036 Educators 10,000 50,000 - 1,000 500 Paying Subscribers 3,50,000 1,50,000 9,00,000 32,000 - Total Funding Raised $ 348.5 Mn $ 110.8 Mn $ 2.1 Bn $ 6.9 Mn $ 200 Mn Twitter Followers 1,03,000 6,184 5,496 1,45,700 5,098 LinkedIn Followers 1,38,014 1,30,186 3,23,709 2,46,976 1,16,371 Facebook Followers 10,96,593 12,84,793 11,70,433 3,35,662 1,43,927 Alexa Site Rank 1,912 1,175 960 4,730 3,939 Alexa Site Rank (India) 153 141 113 437 411 Site Optimization Opportunities 8,800 34,300 30,300 1,800 2,600 Time on website 6 Minutes 6 seconds 3 Minutes 34 Seconds 2 Minutes 45 Seconds 5 Minutes 50 Seconds 4 Minutes 32 Seconds Bounce Rate of Website 46.10% 63.20% 65.90% 48.80% 45.40% % of visitors from India 97.20% 66.30% 77.00% 85.00% 90.50% Pageviews per Visitor 4.52 2.65 2.06 3.88 3.21 Traffic Source from Search(in %) 38% 92% 86% 58% 70% No. of App Downloads 10 Mn+ 10 Mn+ 50 Mn+ 1 Mn+ 10 Mn+ Rating of the App (out of 5) 4.2 4.1 4.4 4.3 4.2 Vedantu Physical Metrics Digital Metrics Unacademy Toppr Byjus UpGrad
  4. 4. TAM-SAM-SOM STATE/UT Unemployment Rate %of people belowpoverty line Literacy Rate StateNSDP(NominalStateDomestic Product) - PerCapita(in INR) StatePopulation Internet Penetration (in %) PotentialReach (InternetLiterate) Rural Population Urban Population AgeGroup (0-14 years) AgeGroup (15-24 years) AgeGroup (25-64 years) Males Females SexRatio Percentage of Males Percentage of Females No.of Colleges No.of Schools Andhra Pradesh 4.50 9.20 67.02 ₹1,51,173 15,70,458 31 4,86,842 10,20,798 5,49,660 5,54,372 2,88,964 6,45,458 7,87,987 7,82,471 993 50% 50% 4814 62702 ArunachalPradesh 5.90 34.67 65.39 ₹1,39,588 15,86,250 38 6,02,775 10,31,063 5,55,188 5,59,946 2,91,870 6,51,949 8,18,498 7,67,752 938 52% 48% 26 4047 Assam 8.10 31.98 72.19 ₹82,078 74,51,955 38 28,31,743 48,43,771 26,08,184 26,30,540 13,71,160 30,62,754 38,05,901 36,46,054 958 51% 49% 485 71042 TAM (Total Available Market) Total Available Market would be anyone in the world who would want to sign up for a course at Zuperly. Total Population of World is 7.828 Bn. Average Internet Penetration of the world is 59.5% thereby making internet availability to 4.66 Bn people SAM (Service Available Market) The Indian population will be considered for SAM. Total Population of the country is 1.4 Bn and the internet penetration rate is 42% . Therefore SAM would be around 588 Mn people, a reduction of almost 88% SOM (Service Obtainable Market) The 18-30 age range of the Indian Population that are digitally literate is the target market for Zuperly. According to the calculations present in Excel above, the 15- 24 age group has 25,20,73,631 people and since most of the population in that https://drive.google.com /drive/folders/1Jdadax6R Zl9YECaYVLXOD_n- qLLhd96g?usp=sharing TOTAL 6.100 21.920 72.990 ₹ 1,26,406 1,36,99,65,385 50 49,82,14,084 89,04,77,500 47,94,87,885 48,35,97,781 25,20,73,631 56,30,55,773 70,32,61,969 66,67,03,416 943 51% 49% 1241 47544 The image is an example of the detailed insights available for each state. This chart will help target a particular state or a city within that state and will aid in strategy formation for each state/city as all of them influence the adoption of EdTech directly/indirectly The factors taken into consideration for each state are- (a) Unemployment Rate (b) % of people below poverty line (c) Literacy Rate (d) State NSDP (e) State Population (f) State Internet Penetration (g) Rural and Urban division (h) Population divided by Age Group (i) Population divided by Gender (j) Number of Colleges (k) Number of Schools Some of the key data points- Total Internet Literate Population- 49,82,14,084 State with the highest NSDP Per Capita- Goa Highest Internet Penetration- Delhi State with most population in 15-24 age – WB State with most number of Schools- UP State with most number of Colleges- UP Excel with detailed calculations-
  5. 5. Marketing Strategy Marketing Strategy Above the Line (ATL) Television Ads Print Media Radio Below the Line (BTL) Outdoor Adverts Direct Marketing Public Relations Through the Line (TTL) Digital Marketing 360 degree Marketing Media Vehicle Brand Cost Source Magazine EdTech Magazine Rs 100,000 Per Insert https://www.themediaant.com/ TV SUN TV (Highest Reach ~BARC) Rs 200 Per second https://www.themediaant.com/ Newspaper Time of India Rs 5,667 per Sq Cm https://www.themediaant.com/ Radio Red FM 93.5 (RJ Mention) Rs 6,000 Per Mention https://www.themediaant.com/ BillBoard 15*40 In Mumbai Rs 70,000 https://armourdigitalooh.com/ Newspaper (Source- Economic Times) (17%) Daily readership (2019)/ Growth over 2018 Times of India 15,236,000 (17%) The Hindu 6,226,000 (17%) The Economic Times 3,701,000 (19%) Mumbai Mirror 2,165,000 (19%) The Indian Express 1,855,000 (16%) The New Indian Express 1,846,000 (22%) All English Dailies 31,366,000 (14%) Name of the newspaper Rates (in Rs. Per sq. cm) Times of India Front Page- Rs 1373 Back Page- Rs 1140 Times Ascent B&W: Up to 120 cm^2-Rs 376 Colour: Up to 120 cm^2-Rs 376 TOI City Times Front Page- Rs 479 Back Page- Rs 384 ATL Marketing Radio Adverts A radio advertising ecosystem has to be maintained. After analysing the viewer statistics, advertising campaigns may be run on Radio Mirchi in the Evening Prime Time and on Red FM in the Evening Prime Time Here our the offline media vehicles that we have selected for offline media with specific brands along with there estimated costs ATL is great for generating initial brand awareness. Paired with digital with will give our campaign a 360 degree view. For Billboards, we will cover major highway destinations. Every city will have a different calling number present on the board to track the effectiveness of ATL marketing. Offline marketing:- • Billboard spaces • Magazine spaces • Radio Slots • Newspaper Space • TV advertising Billboard score= No. of prospective people seeing the ad* average time spent on ad* area of the bill board
  6. 6. Social Media Strategy-YouTube Channel Name Subsciber Base Video Views Engagement Ratio (D/C) Total Uploads Average View Per Video Subscriber last 30 days Views in last 30 days 1 Veritasium 78,60,000 91,39,03,067 116.2726548 298 30,66,789 1,00,000 1,51,15,000 2 The Infographics Show 91,60,000 2,72,46,87,156 297.4549297 2,172 12,54,460 1,90,000 8,64,98,000 3 Dear Sir 70,50,000 36,72,09,061 52.08639163 273 13,45,088 2,20,000 1,54,17,000 4 Dr. Vivek Bindra 1,44,00,000 88,87,66,519 61.71989715 502 17,70,451 2,00,000 2,07,64,000 5 Study Smart 13,80,000 12,17,12,369 88.19736884 1,309 92,981 3,000 4,91,840 6 nptelhrd 17,80,000 38,43,40,247 215.9214871 20,311 18,923 10,000 22,10,000 7 AsapSCIENCE 94,70,000 1,44,29,15,397 152.3669902 350 41,22,615 20,000 90,70,000 8 LearnoHub - Class 11, 12 10,80,000 26,27,43,089 243.280638 6,147 42,743 40,000 47,54,000 9 SidTalk 40,40,000 22,58,40,948 55.90122475 238 9,48,912 20,000 19,47,000 10 wifistudy 1,27,00,000 1,93,75,50,477 152.5630297 26,900 72,028 2,00,000 4,40,10,000 The EdTech industry ideally serves students that are adept at using the internet. Hence there is no better platform to empower and inform our prospects than YouTube. Tie up with Indian and some International YouTube Channels that makes educational videos. A scorecard has been prepared to rate ten prominent channels. The final Price is expected to be dependent upon Social Blade Rank which takes into account all the factors mentioned here. The same can be found in the excel document, the link to which is available in Slide No.4 We have used the following metrics • Engagement ratio ( Number of Views/Number of subscribers) • Average Number of video views (Total views/Number of videos uploaded) • Increase in subscriber base in last 30 days • Increase in video views in last 30 days These metrics have been combined to obtain an Overall Impact Equation to evaluate the influencer we should proceed with. Influencer charge a handsome amount of money, hence we have proceeded with complete data analysis FINAL EQUATION (Overall Impact Equation)- (((Engagement * Average video views)*0.5 )+(0.2*Subs increase last 30 days)*(0.3*Video View increase last 30 days)) This table depicts the final results obtained after computing the above equation for each channel. They are arranged in descending order of preference. The Green and Yellow colored channels can be sought after and the Red colored channels need to have careful strategy & reason behind choosing them Channel Name Overall Impact Equation Score 7 AsapSCIENCE 31,40,86,136 2 The Infographics Show 18,75,58,735 1 Veritasium 17,83,82,529 4 Dr. Vivek Bindra 5,48,85,202 3 Dear Sir 3,52,33,898 9 SidTalk 2,65,24,995 10 wifistudy 60,22,517 8 LearnoHub - Class 11, 12 52,10,719 5 Study Smart 41,00,436 6 nptelhrd 20,44,242
  7. 7. Cost Benefit Analysis Promotion Method Promotion Cost Promotion Estimated Reach Industry Standard Conversion Number of Customers Customer Acquisition Cost Youtube Influencer ₹ 2,00,000.00 9,80,000 0.04% 392 Facebook Ads ₹ 2,00,000.00 34,00,000 0.02% 680 Google Adwords ₹ 2,00,000.00 2,00,000 0.10% 200 Instagram ₹ 2,00,000.00 5,00,000 0.05% 250 Digital Marketing Costs ₹ 8,00,000.00 50,80,000 1522 ₹ 525.62 Other Marketing Tools Word Of Mouth ₹ - 1,000 3% 30 - Billboards ₹ 50,000.00 3,50,000 0.05% 175 Newspaper ₹ 2,50,000.00 15,00,000 0.01% 150 Magazine ₹ 1,00,000.00 5,00,000 0.05% 250 Radio ₹ 1,00,000.00 8,00,000 0.01% 80 Televison ₹ 7,50,000.00 30,00,000 0.02% 600 Guerrilla Marketing ₹ 1,00,000.00 5,000 5.00% 250 Offline marketing Cost ₹ 13,50,000.00 61,56,000 1535 ₹ 879.48 Total Cost ₹ 21,50,000.00 1,12,36,000 3,057.00 ₹ 703.30 Customer Acquisition Cost Estimated Customer Life 2 years Estimated customer revenue per year ₹ 30,000.00 Total Customer Life time Value ₹ 60,000.00 Total Revenue over Period of 2 Years ₹ 18,34,20,000.00 Conclusion: By spending Rs.21,50,000 on marketing we are able to generate 3057 customers. Customer life time value is Rs 60,000. We are able to generate over 18.34 Cr over a period of two years. a) The Costs are approximated and assumed so as to give an idea about the possible costs incurred. The conversion rates are industry specific b) For simplicity, it is assumed that there is no intersection between the reach from Digital Marketing and Offline Marketing c) Digital Marketing is more effective; the Customer Acquisition Cost (~Rs. 526) is less than its Offline Counterpart (~Rs. 880) d) As time passes, more stress to be given on Word of Mouth (WoM) with new promotions designed to stimulate online reviews e) Customer Retention has to be the ultimate goal- Acquiring a new customer is much more expensive (5-25 times) than retaining one Population in Tier II and Tier III Cities Internet Penetration Young population demographics COVID-19 (Short Term) Fear of Missing Out (FOMO) Growth Drivers KPIs (Key Performance Indicators) 1) Market Share 2) Number of Downloads (App) 3) Monthly Active Users 4) Paid Subscribers/Overall Users 5) Average Time Spent per User
  8. 8. Branding Strategy Mission Vision Building a product first company that addresses the needs of the learners thereby improving overall learning efficiency and productivity of its users Establishing Zuperly as a market leader by being the first customer driven EdTech company Brand Essence: Zuperly aims to build a brand by creating products that amalgamates scientifically proven methodologies & the latest technologies to deliver an experience that is unparalleled, every time Brand Communication Brand communication will be constant throughout- whether online or offline. Focus of communication towards the fact that Zuperly helps in achieving the end goal of an user- to attain knowledge and skills for the future. Be Future Ready Brand Idea- Helping people learn Brand Persona- Putting customer feedback first Emotional Benefits- Satisfied that time well spent, Happy, Knowledgeable Functional Benefits- Using proven methods to learn and track effectively and efficiently without much hassle Features & Attributes (Points of Difference)- Focused Learning, Dashboard-first Design, Mood Metrics, Gamified Experiences, Learning Efficiency Features Campaigns Tagline Zuperly: Your Lifelong Learning Mate The tagline promotes the idea that Zuperly is a trusted learning partner for the customer. This promotes TRUST, COMMITMENT, LEARNING, FRIENDSHIP- everything that Zuperly stands for Campaigns will be 360 degree campaigns, we will connect in online and offline both ways. The first campaign will be #superduperzuperly which will focus on the Points of Difference of Zuperly and how it is different from all other EdTech products in the market. Cohort is from the age group of 18-30 years which falls in sync with the youth orientation. Key emotions will be Trust, Camaraderie, Satisfaction Brand Ambassador Why Amitabh Bachchan as the Brand Ambassador? No other Bollywood brand evoke the qualities of TRUST, FRIENDSHIP & RELATIONSHIP better than the Shahenshah himself. He has a connect with all ages and his roles in movies like Bhootnath, Piku, Pa, Black or in shows like Kaun Banega Crorepati has made sure that Big B’s influence is felt throughout, both on and off the silver screen
  9. 9. Thank

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