Objective and Scope:
The client, a leading consulting firm, wanted to assess the K-12 test prep market in India. They wanted to understand key players, total enrolments, operating model, fees, competition, and other aspects at a city level. For this, it sought Benori’s support to:
- Analyze the key players, enrollments in Joint Entrance Examination (JEE), National Eligibility-cum-Entrance Test (NEET), and Foundation programs
- Market share of key players, growth strategy, operating model, fees and discounts, ranks, and test format
- Impact of COVID-19 on enrolments, forward trends, and other key performance indicators (KPIs) such as unique selling proposition (USP), and digital infrastructure
Approach:
We conducted ~200 in-depth business-to-business (B2B) interviews with center heads and center managers in 32 cities, including Kota, Jaipur, Gurgaon, Chennai, Bhopal, Guwahati, Patan, Indore, Pune, Hyderabad, and others. Target institutes included FIITJEE, Resonance, VMC, Bansal Classes, Sri Chaitanya, Allen, Narayana, PACE IIT JEE, Avanti Learning, Chate Coaching Classes, and other local or regional players. We targeted 5–6 top institutes in each city.
Impact:
The research helped the client in gaining strategic insights into:
- Total addressable market and opportunity of the test prep market in India
- Develop a Factbase of organized test prep players across 32 cities
- Understand enrolment at each center, average revenue per user (ARPU), program pricing, operating model, competition, etc.
