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When one thinks of the education sector in India, the first few names to come to mind are IIT, IIM, DPS followed by others. Linked to a social status, quality education or branded name, all these associations sum up to a perceived achievement.
What are the associations one has with these institutions and equally importantly, why?
The Indian education sector’s market size in FY’12 was estimated to be Rs 341,180 crore and is expected to grow substantially to Rs 602,410 crore by FY’15 in response to a strong demand for quality education. However, the list of recalled institutes is not very exhaustive. For a country the size of India, with about 550 million people in the age group of 5-24 years, the largest in the world, there are very few renowned names and what they deliver is even less.
From an outside-in perspective, in economic terms, education in India operates as a sellers market. The demand for education far exceeds the availability of seats. Due to the vast gap of quality between the top institutes and the newer private education institutions, we have a situation of too few seats being chased by too many people in some institutions. On the other hand, some institutes are unable to attract students and have been forced to close down. Since 2011, over 225 B-schools and 50 engineering colleges have shut down across the country. The key factor for the failure of such institutes is the quality and service of education they offer which affects the students largely in not securing jobs. What an Irony!
The education sector in India is undergoing a significant change with a rapid increase in the number of private players entering the sector. Private education revenue is growing fast at 19% and is expected to reach Rs 239,197 crore in FY’15 from Rs 159,465 crore in FY’12. Education now, is no longer a social service, but slowly becoming a business.
Most parents or students today will vouch for the fact that it is a money-making business barring few centres of learning. Most educational professionals too, will shudder at the thought of their institution as a “brand” and students or parents (in case of schools) as their customers as they are tutored to think that it is a social service.
Unfortunately this is a myth. Any business which exists with a consideration (however small or big) needs to orient itself to serve its customer. Defining your students or parents as a customer only improves the service delivery and levitates the sector as a whole.
Understanding and catering to this customer is the need of the education sector. So how does our tune into being customer friendly? The 5 crucial factors central to the education sector are the 3 E’s & 3C’s.
The cornerstone for any good business is a good product, in this case, the quality of education. Without delving into all the parameters that define quality, suffice to say that like every product which needs to undergo change and development over time, it is imperative that quality of education imparted should also continuously evolve.
Most often, in many institutions, faculty members take comfort in using content they are familiar with and not necessarily that which is updated and most relevant. So any institution that does not deliver excellence is bound to cause customer dissonance.
http://www.asianage.com/ideas/shy-indian-education-sector-shuns-branding-996
What are the associations one has with these institutions and equally importantly, why?
The Indian education sector’s market size in FY’12 was estimated to be Rs 341,180 crore and is expected to grow substantially to Rs 602,410 crore by FY’15 in response to a strong demand for quality education. However, the list of recalled institutes is not very exhaustive. For a country the size of India, with about 550 million people in the age group of 5-24 years, the largest in the world, there are very few renowned names and what they deliver is even less.
From an outside-in perspective, in economic terms, education in India operates as a sellers market. The demand for education far exceeds the availability of seats. Due to the vast gap of quality between the top institutes and the newer private education institutions, we have a situation of too few seats being chased by too many people in some institutions. On the other hand, some institutes are unable to attract students and have been forced to close down. Since 2011, over 225 B-schools and 50 engineering colleges have shut down across the country. The key factor for the failure of such institutes is the quality and service of education they offer which affects the students largely in not securing jobs. What an Irony!
The education sector in India is undergoing a significant change with a rapid increase in the number of private players entering the sector. Private education revenue is growing fast at 19% and is expected to reach Rs 239,197 crore in FY’15 from Rs 159,465 crore in FY’12. Education now, is no longer a social service, but slowly becoming a business.
Most parents or students today will vouch for the fact that it is a money-making business barring few centres of learning. Most educational professionals too, will shudder at the thought of their institution as a “brand” and students or parents (in case of schools) as their customers as they are tutored to think that it is a social service.
Unfortunately this is a myth. Any business which exists with a consideration (however small or big) needs to orient itself to serve its customer. Defining your students or parents as a customer only improves the service delivery and levitates the sector as a whole.
Understanding and catering to this customer is the need of the education sector. So how does our tune into being customer friendly? The 5 crucial factors central to the education sector are the 3 E’s & 3C’s.
The cornerstone for any good business is a good product, in this case, the quality of education. Without delving into all the parameters that define quality, suffice to say that like every product which needs to undergo change and development over time, it is imperative that quality of education imparted should also continuously evolve.
Most often, in many institutions, faculty members take comfort in using content they are familiar with and not necessarily that which is updated and most relevant. So any institution that does not deliver excellence is bound to cause customer dissonance.
http://www.asianage.com/ideas/shy-indian-education-sector-shuns-branding-996
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