How Pratik Raut explored market research strategies during his Summer Internship
How your internship helps you to have experience in the core aspects of management learning’s? How your summer training makes you explore the nitty-gritty of MBA? How do you get to know the application of theoretical knowledge that you learn in MBA classes?
In this special series of ‘MBA Internship Experience’ of B-school students, Careers360 brings insightful experiences from Management students, who learned and applied theories to successfully complete their internship projects.
Pratik Raut, student of Marketing at SIMSREE, completed his Summer Internship from BASF where he worked extensively for a chemical intermediate-THF and explored market research strategies for the product.
An ex System Engineer from Infosys, Pratik, during his internship understood the value chain of the organization. He further shares the significance of ‘mapping the research for a project’ to generate relevant data.
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Read here to know about the overall Internship Experience
Careers360: Where did you do your summer internship from? What was the size of the company?
Pratik Raut: I did my summer internship at BASF India. BASF is the world’s leading chemical company, which has more than 112,000 employees worldwide. The company has its customers in more than 200 countries.
Careers360: What project you worked on and what was the timeline for execution of different stages of the project?
Pratik Raut: I worked on a project that involved market study of recycling of a chemical Intermediate – Tetrahydrofuran (THF). BASF is the world’s leading manufacturer for THF. The project duration was 2 months. The first week involved desktop research and getting acquainted with the chemical Intermediate THF, studying its market and applications. The next 6 weeks involved field visits to all the major buyers of the chemical. The third stage involved extraction of various insights from the data gathered and making a project report. The final stage involved a presentation to the company officials and presenting the findings of the study to them.
Careers360: Please summarise your project
Pratik Raut: THF is one of the most widely used chemical intermediates worldwide. Many companies use fresh THF in chemical reactions and then recycle it from the leftover waste solvent once the process is over. The project involved finding the total amount of THF that is recovered by the recycling process per year in the Indian Market, the total capacity of recyclers in India, the main reasons due to which companies recover THF, the applications of this recovered THF and the future trends of recovering the THF in India.
Careers360: How did you execute the project?
Pratik Raut: The first week involved getting acquainted with the value chain of BASF and the chemical intermediate THF. I interacted a lot with BASF employees who patiently answered all my naive doubts. I made a project plan and shortlisted all the major THF customers that would be targeted for this study.
In the next 6 weeks, I interviewed all the shortlisted THF customers in Mumbai, Hyderabad, Delhi, Gujarat and Bangalore. I also interviewed the major THF third-party recyclers in Mumbai.
The last week was dedicated to insight generation and research data accuracy testing, using various methods. I created a report of the findings and presented the same to the company officials on the last day of my internship.
Careers360: What were the key challenges that you faced while doing your internship?
Pratik Raut: The key challenges were first to identify the right companies that were to be interviewed and then getting in touch with the right people of those companies. Many a time the officials would be busy and I could not elicit a proper response from them. A lot of follow up was required to ensure setting up an appointment with them and gathering all the required data.
Careers360: Tell us about your key learning’s while doing the project. What was your overall learning after the completion of the internship?
Pratik Raut: I understood and explored various market research strategies in the course of this project. Some of the key learning’s of this project were:
1. For the success of a project, a proper execution plan has to be in place. This serves as a sounding board to check if the project execution is in process as expected.
2. A proper follow up through mail and phone calls is an essential requirement in the success of any project involving market study.
3. Understanding the value chain of the organization and analyzing how your project fits into this value chain is very important.
4. While carrying out a primary or secondary research, research should always be mapped to the project deliverables. Finding relevant data should be the focus.
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Careers360: How supportive was your corporate mentor in the execution of the project?
Pratik Raut: My corporate mentor helped me design the blueprint of the entire project. He guided me as to which organizations would be the best for me to survey. He kept a regular tab on my progress. His timely help and constructive feedback helped me to successfully complete my project.
Careers360: While doing your internship, how were you connected with your academic mentor at your institute?
Pratik Raut: The faculty at SIMSREE is extremely helpful. My mentor, Dr. R. K. Srivastava helped me in prepare a questionnaire so as to get the best outcome from my field visits and helped me strategize my field visits. He also helped me to extract useful insights from the data gathered for the survey.
Careers360: How was your interaction with other employees during your internship period? Would you like to come back to the place for a job?
Pratik Raut: BASF is a great place to work for. I found all the employees very amicable and cooperative. They went out of their ways to offer help whenever required. There are a lot of employee engagement programs that are conducted often at BASF. The work environment is very lively.
I would definitely like to come back and work for BASF in future.
Careers360: Share a memorable incident from your internship days.
Pratik Raut: There were many memorable incidents while working with BASF. But the most memorable was when after my final presentation my corporate mentor appreciated my work and said that the project objectives were perfectly met and everything that was expected from the project was achieved.
This for me meant a successful culmination to the two months of learning process.
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Questions related to SIMSREE Mumbai
My MAT score is 657.50 (86.01%) and ssc 87.66%, PUC or 12th 93.1% and B.Tech 66.27% andI have around 2.8 years of work experience. Can I get chance in SIMSREE and JBIMS. what are the best government and private colleges available for me based on my score below 10 Lacs?
No you cannot get into JBIMS and SIMSREE with the marks scored in MAT exam. You can get into following college:
- BIMTECH Greater Noida
- XIME Banglore
- Balaji Institute Of Modern Management (BIMM) Pune
- SIESCOMS Navi Mumbai
- christ university, banglore
- New Delhi Institute of Management (NDIM) New Delhi
my may mat composite score is 761 & 99.09 percentile .can i take addmission in top mms colleges like simsree,pumba etc
It's really good to hear that you scored 99.09 percentile in MAT but sadly from this year, The official body responsible for MMS admissions has denied to take scores of MAT and ATMA and GMAT.
Because of this decision you won't be able to get MMS in these colleges but yes you can get PGDM in the top colleges like NL Dalmia, SIES, MET etc.
For getting admission in MMS, CET registration is compulsory and you should have a valid score of CET, CAT or CMAT
I got 99.26 percentile in maha cet mba, Im from oms,can I get seat in simsree
With such a good percentile you will be able to get into Sydenham Institute of Management Studies Research and Entrepreneurship Education (SIMSREE). However you can look at other options if you want to and a good guide will be the ranking given on NIRF for Management and the link is: https://www.nirfindia.org/2019/ManagementRanking.html
Students can apply for OMS seats (18 seats, 15%) through CMAT Feb, CMAT Sept or CET (March) scores. Maharashtra students (HU, OHU) can also apply through CMAT scores for these OMS seats.
cutoff for oms through CET for simsree college??
As you asked cutoff for oms through cet for simsree college:
The MAH MBA CET cutoff for SIMSREE final 12 months become 99.8x. The previous yr, it become 99.7x.
Considering the quantity of college students who have seemed for the CET this year, I accept as true
with the cutoffs will hover in that range.
College Cutoffs Seats
SIMSREE- 99.96 9
Follow up with the link below for more information:
what is the last date to apply in Simsree?
Hope this helps!