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  • Market Opportunity Assessment

Evaluating/Validating market and success factors for a high-end school

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The Client

The client is a renowned ICSE school in Madurai which operates with a vision of providing top-notch, quality education to its students. The school was well-reputed for its academic program and respected in the area. With a focus on globally relevant education within the Indian context and culture, the aim is to holistically educate children, encompassing not just academic needs, but also their culture, physical, emotional and social well-being. The client envisioned establishing a premium, international school in Madurai that would cater to students in and around the city.

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Business Context

In their quest to open a school that nurtured its student body while providing education that would lead to academic excellence, the client needed to know the current educational scenario in the city of Madurai and surrounding areas to understand parents’ satisfaction with the schooling options available. In particular, the demand and drivers for a premium positioned school needed to be determined. The attitudes and beliefs of stakeholders including parents, teachers, students and alumni had to be evaluated.

The client approached Prayag to conduct a market study to assess demand for high quality education and understand expectations of the target segment to evaluate who would consider an international school. The client needed to know the satisfaction levels of parents of existing students and understand their experiences with the school(s) their children went to. Opening a niche school with premium positioning is a large undertaking, and the client wanted to have all the knowledge of the particular city and needs and expectations of parents in the area, before embarking on this journey.

Prayag's Solution

Prayag conducted a comprehensive study of Madurai and the surrounding catchment areas to assess the demand for the type of educational institution the client wanted to set up. The primary objectives of the study were to:

  • Assess the demand for a high quality school in and around Madurai
  • Know the demand for residential versus day scholar program options
  • Understand stakeholders’ attitude towards the ICSE board
  • Gauge the acceptance for a premium positioned school
  • Calculate school fees that parents would be willing to pay
The methodology utilized was predominantly primary research. We interviewed 300 parents, school children, alumni, competing schools, school teachers and education consultants using a combination of face to face and telephonic interviews. The interview research took the form of structured questionnaires, prepared for each segment of . We then synthesized the data from the various interviews and gave the client the information that would help them evaluate the success factors and criteria of their intended plan.

Benefits

The research findings covered the objectives the client had, and Prayag synthesized the data to provide the requisite inputs for the school. With our help and the insights provided, the client has set up an international school in Madurai.



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