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Methodology

Research data can be collected either in the form of secondary or primary or both. Generally, in academic research, both secondary and primary forms of data collection are used (Sekaran, 2003). Therefore, in this research also both primary and secondary forms of data collection were put into application.

Secondary Data

Secondary Data usually factual information can be obtained through secondary data, those have already been collected from other sources and are readily available from those sources (Malhotra, 2003). The definition and characteristics of secondary data presented above suggest us that secondary data are data that have already been collected for purpose other than the problem in hand (Sekaran, 2003). Before detailing as how and what secondary data were collected in this research, in would be worth to examine the advantages and disadvantages of such data.

Secondary data are easily accessible, relatively inexpensive, and quickly obtained. Some secondary data are available on topics where it would not be feasible for a firm to collect primary data. Although it is rare for secondary data to provide all the answers to a non-routine research problem, such data can be useful in a variety of ways (Sekaran, 2003).

Even though so many drawbacks are associated with the secondary data, but such data were found useful in this research as identifying the problem, developing an approach to the problem, answering some research questions and interpreting primary data. The secondary data in the present research were collected from books, journals, periodicals, newspapers, and magazines and published reports.

Primary Data

A researcher originates primary data for the specific purpose of addressing the problem at hand. The collection of primary data involves all six steps of the marketing research process. Obtaining primary data can be expensive and time-consuming. The definition of primary data presented above suggests us primary data are those data that are collected for the particular purpose of research in hand (Sekaran, 2003). The disadvantage of collecting primary data is that it is lengthy and resource and time-consuming process (in comparison of secondary data), but the advantage of primary data is that they are first-hand information that is comparatively more reliable (than secondary data) ( Sekaran, 2003). Primary data can be collected from various sources and methods that are case studies, observation, questionnaire survey and interview (Sekaran, 2003).

For this research, the questionnaire survey and interview methods were considered as a most appropriate method to collect primary data. The survey involves relating to a large number of respondents using a pre-designed questionnaire, which may be broadly classified on the basis of their context as psychographics and lifestyles, advertising evaluation, or general survey.

In the questionnaire-based survey, the most important aspect is designing questionnaire. Designing questionnaires may appear to be simple, especially to those who have not designed one before (Sekaran, 2003). After all, we may think, once we have a clear notion of the information desired, it should be easy to formulate appropriate questions and arrange them in the form of an instrument. In the present research, a questionnaire was designed considering the required information in accordance with research objectives. The questions in the questionnaire can be open and close-ended. In this research, only close questions were included in the questionnaire. Generally, questions are either open-ended or closed-ended and questions are selected in accordance with the researcher's convenience. In this research consisted only close-ended questions, as they were found easy to respond and analyze. The questionnaire consisted 10 close-ended questions with their multiple options.

One of the most import parts of the survey process is to determine the sample. There are various methods of selecting the sample and they are categorized as probability and non-probability (Sekaran, 2003). In the present research, in order to collect primary data sample were selected with the non-probability method, the probability of selecting the sample was uncertain. In the survey, the respondents were Product Development Managers working in different companies in Indian software industry. The sample size was 25.

5. PRIMARY DATA COLLECTION

1. How do you see the future scope of new software products in education segment?

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According to the data description in this table; for 72% (18) out of the total 25 respondents, they find that the future scope of new software products in education segment is ‘highly prospective’; for some 20% (5) respondents of them, they find that the future scope of new software products is ‘simply prospective’; and for the remaining 8% (2) respondents, this is ‘not prospective’. Based on those data, it can be clearly summarized that certainly the future scope of new software products in education segment is highly prospective.

2. Do you believe that high level of innovation and new product development is key today for a company in Indian and global software industry?

In accordance with the data account in this table; for 84% (21) out of the total 25 respondents, they unhesitatingly believe that high level of innovation and new product development is key today for a company in Indian and global software industry; whereas for the remaining only 16% (4) respondents, they do not believe to this fact. These data suggest to plainly generalize that certain high level of innovation and new product development is key today for a company in the Indian and global software industry.

3. Whilst developing new software product in education segment, which market should be the target of an Indian software company?

According to the data description in this table; for 56% (14) out of the total 25 respondents, whilst developing new software product in education segment, ‘both domestic and international markets’ should be the target of an Indian software company; for some 24% (6) respondents of them, this should be ‘only domestic market’; and for the remaining 20% (5) respondents, this should be ‘only international market’. Based on these data, it can be clearly summarized that whilst developing new software product in education segment both domestic and international markets should be the targets of an Indian software company.

4. Whilst developing new software product in education segment, what should be the strategic approach of an Indian software company?

In accordance with the data account in this table; for 64% (16) out of the total 25 respondents, they conclude that whilst developing new software product in education segment, ‘customization’ should be the strategic approach of an Indian software company; whereas for the remaining some 36% (9) respondents, ‘standardization’ should be the strategic approach of an Indian software company. These data suggest to plainly generalize that whilst developing new software product in education segment customization should be the strategic approach of an Indian software company.

5. How do you agree to the fact that appropriate transfer of organizational practices and development culture would be key to success of a new software product in education segment?

According to the data description in this table; for 60% (15) out of the total 25 respondents, they ‘strongly agree’ to the fact that appropriate transfer of organizational practices and development culture would be key to success of a new software product in education segment; for some 28% (7) respondents of them, they ‘reasonably agree’ to this fact; whereas for the remaining just 12% (3) respondents, they ‘disagree’ with this fact. Based on these data, it can be clearly summarized that undoubtedly appropriate transfer of organizational practices and development culture would be key to the success of a new software product in the education segment.

6. What will be the appropriate time horizon for strategic release management for a new software product in education segment?

According to the data description in this table; for 68% (17) out of the total 25 respondents, they opine that ‘6-12 months’ will be the appropriate time horizon for strategic release management for a new software product in education segment; for some 20% (5) respondent of them, ‘above 12 months’ will be appropriate time horizon; whereas for the remaining just 12% (3) respondents, ‘0-6 months’ will be appropriate time horizon. Based on these data, it can be clearly summarized that 6-12 months would be the appropriate time horizon for strategic release management for a new software product in the education segment.

7. Whilst developing new software product in education segment, what should be the main marketing approach of an Indian software company?

In according with the data account in this table; for 60% (15) out of the total 25 respondents, whilst developing new software product in education segment, ‘meeting market needs’ should be the main marketing approach of an Indian software company; whilst for the remaining some 40% (10) respondents, ‘adding value’ should be the main marketing approach of an Indian software company. These data suggest to plainly generalize that whilst developing new software product in the education segment, meeting market needs should be the main marketing approach of an Indian software company.

8. Do you agree that MISP model of positioning would be appropriate for promoting a newly developed software product in education segment by an Indian software company?

In accordance with the data account in this table; for 64% (16) out of the total 25 respondents, they agree that MISP model of positioning would be appropriate for promoting a newly developed software product in education segment by an Indian software company; whilst for the remaining some 36% (9) respondents, they do not agree to this fact. These data suggest to plainly generalize that certainly, MISP model of positioning would be appropriate for promoting a newly developed software product in education segment by an Indian software company.

9. How important is marketing alliance through strategic networking for successfully marketing a newly developed software product in education segment by an Indian software company?

According to the data description in this table; for 40% (10) out of the total 25 respondents, they find that marketing alliance through strategic networking is ‘simply important’ for successfully marketing a newly developed software product in education segment by an Indian software company; for some 32% (8) respondents of this, this is ‘highly important’; whilst for the remaining some 28% (7) respondents, this is ‘not important’. Based on these data, it can be clearly concluded that certainly marketing alliance through strategic networking is greatly important for successfully marketing a newly developed software product in education segment by an Indian software company. 

10. Which form of control system would be comparatively more effective for monitoring and controlling of a newly developed software product in education segment by an Indian software company?

According to the data description in this table; for 64% (16) out of the total 25 respondents, ‘outcome – based control’ would be comparatively more effective for monitoring and control of a newly developed software product in education segment by an Indian software company; whilst for the remaining some 36% (9) respondents, ‘behaviour-based control’ would be comparatively more effective. Based on these data, it can be clearly concluded that outcome-based control would be comparatively more effective (than behaviour-based control) for monitoring and controlling of a newly developed software product in education segment by an Indian software company.

CONCLUSION AND RECOMMENDATION

The majority of the early on players in the Indian software product space focused chiefly on the financial and accounting segments, the newer companies are looking at segments such as business intelligence, security and education. Moreover, in the current environment of a global recession developing a new software product in education segment (textbook and library service) is a safe hand. Universities around the world today make every effort to carry the most complete, relevant education to its students. To better train students for the place of work, the schools of business particularly wish to include business management software into its curriculum. Nowadays, students can put on skills that enhance job opportunities and observe how all aspects of a business work together. Students as well get hands-on experience installing and configuring the software. Considering the prospective future of education segment, ITPLdecides to develop a new software product in this segment, where the purpose is to cater both Indian and foreign universities and business schools. The rationale is that students have come up with the crucial university companion, capable of helping out with both academic and social life. ULL as an educational software will work on a smartphone or handheld computer. It possibly will assist students to opt their text books and offer feedback on essays. It will even assist them to get home from the pub if they get too drunk to create it under their own steam. Currently, the program is just a prototype. It is the idea of experienced professionals from different high-profile Engineering Colleges, Training Institutes, and Universities of India associated with ITPL.

Software products vary from physical products in a few contexts. Whilst physical products necessitate to have production issues overtly dealt with all through the product development process, and belatedly changes in product designs can have cost and time insinuations, software products do not have such restraints. As an alternative, additional issues such as compatibility with hardware platforms and operating systems, both of which transform fast, turn out to be decisive. Software products are easier to copy, either in the course of piracy or by copying key features and giving sufficient protection of intellectual property rights is tricky. Software product development is feasible merely if the company can internally conceptualize exceptional applications and capture value principally in the course of the marketing part of the value chain. The restricted demand potential of the Indian domestic market and the huge geographical reserve from the biggest market for packaged software makes the entry and marketing of software products an intricate offer. Software product companies necessitate having suitable reference clients to induce other clients to purchase costly software products and Indian client installations are generally not regarded proper reference installations.

The time horizon for strategic release management in a disordered environment is 6-12 months, or 2-3 product releases ahead. The time horizon ought to be corresponding both with the marketplace and the internal competences of the company. In the time horizon the future product releases and the required release projects are planned at a high level of concepts (such as product idea, key new features and technology, quality goals, release timetable, coarse resource allocation) and documented, such as in the form of a combined release plan or a product and technology roadmap. Discovering the entire product solution comprising added value and configuration with market needs is indispensable to set up and to cut off catalysts. Close customer relationships help out to categorize the requirements of the target market. In small companies, this is most probably to be carried out in the course of business networks, where a direct sales approach is unsurpassed fitting to early adopters. Small companies generally have inadequate resources for sales and marketing for commercializing products themselves. Marketing alliances in the course of strategic networking thus happen to vital. Strategic alliances to support product promotion in the course of word-of-mouth amongst industry consultants. The conjectural positioning in accordance with the MISP model is that one product must be acknowledged and marketed, refined to include innovators, work with early on adopters and afterward take this one product athwart the chasm once the technology has been proved to work and is suitable for clients. A control system is set of processes that a company uses to monitor, direct, assess and recompense its sales personnel. It is planned to control salesforce behavior and activities in such a mode that organizational objectives are attained. The sales literature gives two system categories namely behavior-based control system (BBCS) and outcome-based control system (OBCS). A BBCS assesses the salesforce in wake of the selling process, and recompense is typically in the course of a fixed salary. An OBCS assesses the salesforce in wake of end results, and compensation is generally incentive-based. Traditionally, sales managers focused largely on the OBCS. Nowadays, nevertheless, the OBCS is extensively used jointly with the BBCS in a range amid the two control systems.

Recommendations

Whilst developing ULL education segment software product customization should be the strategic approach of ITPL.

6-12 months would be the appropriate time horizon for strategic release management for ULL.

Whilst developing new software product (ULL), meeting market needs should be the main marketing approach of ITPL.

Outcome-based control would be comparatively more effective (than behaviour-based control) for monitoring and controlling of a newly developed software product in education segment (ULL) by ITPL.

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