Finance Presentation

To better understand the requirements of international students and what would make it easier for them to integrate into their new communities, we employed a range of market research techniques. In addition to surveying students and reviewing prior research on the subject, we spoke with students, educators, and community leaders in interviews. It is essential to carry out market research prior to launching a brand-new enterprise in order to get a deeper comprehension of the requirements posed by your intended customer base. This information can be useful in guiding the decision-making on the items or services to offer, the best way to advertise your company, and the prices to charge for those goods and services.

2. Why did you choose this method?

We selected this combination of techniques because we wanted to get a range of viewpoints on the subject. The surveys and previous research gave us additional quantitative data to help us comprehend the extent of the issue and find potential solutions, while the interviews allowed us to further examine the needs and experiences of international immigrant students. It is important to select the strategy or ways that will enable us to answer the questions that you have regarding the target market in the most effective manner.

3. How big was (alternatively, who was included in) your sample?

In order for us to manage the sample efficiently when performing market research, it must be both large enough to be representative of the target market and small enough for us to handle. So, we were able to interview approximately 20-25 newly landed students who are currently living in Canada. Aside from that, we were able to speak with approx. 10students that are intending to visit Canada. In addition, we spoke with approximately 5 educational consultants in India to better understand their perspectives on these services.

4. What questions did you ask, what answers did you receive?

· What challenges do you think you can potentially face since the day you land in Canada?

· The challenges which you face when you will land into a new country will be the knowledge about the country and other initial process.

· Have you been facing any obstacles owing to the cultural differences, language barriers or lack of knowledge?

· Yes, we have faced many problems like finding jobs, faced experience problems, at times doesn’t qualify for any internal job posting at work.

· What are the major difficulties you have while adjusting to a new community?

· Finding a house, opening bank account, getting to know immigration process.

· What type of assistance do you require to feel at home and welcome in your new residence?

· May be a community group, home cooked meals, co-operative tenants, affordable room rent, flexible terms in contract.

5. How representative, accurate or useful was the information you received?

The data we got was typically accurate and useful in determining the needs of students from other countries. However, we discovered that the amount of prior study on the subject was constrained, thus in order to fully comprehend the problem, we largely relied on interviews and surveys. For you to make decisions regarding the company that are in your best interest, the information that you obtain from your market research has to be accurate and helpful. However, it is essential to keep in mind that beginning a new business always entails some degree of risk, and that conducting market research can only give you limited knowledge about potential customers and competitors.

6. As a result, what changes or improvements did you make to your product

         concept or marketing strategy?

As a consequence of our market study, we made the decision to concentrate our efforts on offering assistance with the practical facets of relocating, such as house search and navigating the legal system. Additionally, we chose to help international students rather than all immigrants since we discovered that they frequently experience difficulties. Also considering the infiltration of international students in Canada, we believe it’s a lucrative target for consumers. 

7. What do you still not know, that could provide some risk?

There are still certain dangers involved in our project, such as the chance that we won't be able to assist all of the students who are foreign immigrants and in need of our assistance. However, we think that our market research has allowed us to establish a strong business strategy and given us a comprehensive grasp of the demands of our target market. More importantly, we believe we are not completely novice in the field. In our team, we come from relevant and similar backgrounds from Aviation, and immigration service industries. We have dealt with people who sought the same kind of assistance and services. Hence, we believe we have some first hand experience and can utilize the same in our new venture. Regardless, launching a business in a new country with fresh resources and network may appear as a task and challenge.

Marketing Strategy

         Product

1. What features or benefits will you incorporate?

The product we are selling is a service that helps new international immigrant students to get settled overseas. We will help them with finding housing, getting their SIN appointment, help in exploring new job opportunities, and adjusting to their new surroundings. Our website will serve as the point of sale for our service. Additionally, we will be present on other social media sites, such as Facebook and Twitter, among others.

2. How does this compare to actual or potential competitors?

There are not many competitors in this market. Most of the existing competitors are not focused on helping new international immigrant students specifically. They are either focused on getting admissions for students or they are focused on helping in general.

         Price

1. At what price will you sell the product?

We intend to introduce 2 packages:                                                                                    

Above pricing is as per person and payment in full will be required while enrolling for the services.

We are also considering rolling out an add-on service to the two packages which involves help with procuring a driver’s license in Canada. The pricing for the add-on is tentative and we will gauge customer sentiment and willingness to spend on the add-on service, however preliminary pricing is expected to be 500-700 CAD extra for this service. 

2. How did you determine that price?

Our train of thought is to keep the price reasonable and an amount that people from students to adults could afford. We determined the price by looking at the prices of similar services and by considering the value that our service provides. Since there are little to none bundled service providers like our planned business, it is hard to compare it directly, so we instead looked at each of these services by itself and then discounted the pooled cost to reflect a one stop sale concession. We will keep the pricing lens fluid and change it if we think lowering it would bring in more customers, or even the flipside - raise it on the off chance that there is too much demand and we are leaving money on the table. 

3. How does this compare with competitive or existing products?

At present, we do not have much competition who intend to offer these services as they are focusing more on getting the students admission. They do not offer a bundled service like we plan to do, so that also becomes our point of differentiation. 

         Promotion

1. What method (advertising, personal selling, trade shows, mail, internet)?

We will promote our service through online advertising and through word of mouth. We will also come up with some introductory special offers to our customers where perhaps we could design and build a package for them which meets their needs.

2. Why have you chosen this method (cost, effectiveness, efficiency, coverage)?

As per Immigration, Refugees and Citizenship Canada, there were 528,200 foreign students with study permits in 2020. In comparison to 2019, the number of international students holding a study permit decreased approximately by 17%. With pandemic continue to be there in 2021, the numbers fall to 450,000 international students in higher education by 2021. However, Canada being popular amongst all the youngsters and professional people and progress towards the bringing back daily life to normal. Canada has welcome around 200,000+ students in H1 of 2022 and they are aiming to achieve a target of 4,00,000 by the end of the year. At present, we are hoping to get 5% (10,000) from 250,000) with the services we intend to provide. Through the use of online advertising, we will be able to convey our message to a sizable population of prospective clients. We can track the outcomes of our campaign to see how many people are clicking on our advertisements and going to our website. Additionally, we are able to target our advertisements toward those who are likely to be interested in our service. The promotion of our service through word-of-mouth is an effective and efficient method. We may incentivize clients to refer us to their friends and family by providing them with bonuses for doing so, which will encourage them to spread the word about our company. This form of marketing is frequently more effective than other more conventional forms of promotion, and it often has the added benefit of being highly cost-efficient.

3. Estimate and quantify resources (financial and human) needed.

            At present, we are looking to have volunteer who are already studying in Canada along

            with that we three have also divided our roles:

· Gagan Deep Singh - Will look after Airport Transfers and Accommodation

· Amaleena Bata - Will look after Meals and appointments.

· Sanjana Bindroo - Will look after marketing, general support and sim card allotment.

         Place

1. Will you retail the product, wholesale it, use agents or distributors?

We are starting a new business that will assist newly arrived international students in establishing themselves in their new homes abroad. We want to sell the product to end users via a website as well as via local representatives or distributors in a number of different nations. The website will provide information on the goods and services that we provide the instructions on how to get in touch with us. In addition to this, we will be employing agents and distributors in many nations to assist in the marketing and sale of our goods and services. It will be the responsibility of the agent or distributor to provide potential customers with information about our products and services, as well as to assist in arranging for the purchase and delivery of the goods. If it is required, they will also be accountable for providing customer service. We will provide the agent or distributor with training on our products and services, as well as on how to effectively market and sell those products and services. This training will also cover how to effectively sell those products and services. We think that taking this approach will be the most successful way to communicate with newly arrived international students and to assist them in adjusting to life in their new country.