Summer Internship Project Report

On

A Study on Pricing and Marketing Strategies Being Used By

Real State

Submitted in partial fulfilment of requirement of

Bachelor of Business Administration (B.B.A) General

BBA V (Morning)

Batch 2017-2020

Submitted to: Submitted by:

Ms. Annu MishraSuchit Kumar

Assistant Professor 02514101716

JAGANNATH INTERNATIONAL MANAGEMENT SCHOOL

KALKAJI
 ACKNOWLEDGEMENTS

A lot of effort has gone into this training report and for that I would like all those who
have contributed in completing this project.

First of all, I would like to send my sincere thanks to Mr. KULDEEP RAWAT General
Manager Marketing, Indiabhoomi.com for her valuable guidance during the internship
and constant encouragement during the completion of this project report.

Also, I am highly intended and extremely thankful to Ms. ANNU MISHRA,Assistant

Professor, JIMS Kalkaji who as my guide was a constant source of inspiration and
encouragement to me. The strong interest evinced by her has helped me in dealing with
the problems I faced during the course of project work.

I express my profound sense of gratitude to them for their timely help and co-operation
in completing the project.

Lastly, I would like to thank my entire beloved family & friends for providing me
monetary as well as non – monetary support, as and when required without which this
project would not have completed on time. Their trust and patience is now coming out in
form of this thesis.
 CERTIFICATE OF COMPLETION

This is to certify that Suchit Kumar, enrolment number 02514101716 pursuing BBA
(General) from Jagannath International Management School, Kalkaji has
successfully completed the research project on “A study on Pricing and Marketing
Strategies being used by Real Estate Industry” under my supervision and guidance.

She has taken care of all necessary aspects and has shown keen interest and utmost
sincerity during the completion of this project file.

I certify that this project file is up to my satisfaction and as per theguidelines laid down
by the Guru Gobind Singh IndraprasthaUniversity.

Ms Annu Mishra

(Internal mentor)
 DECLARATION

I declare that s

a. All the work done is my original.

b. I have not used work that is previously produced by any other student or any
other person to submit it as my own.

c. The work confirms to the guidelines for layout, content and style as set out in the
Regulations and Guidelines.

Suchit Kumar

CONTENT
 S.no Description Page no.
1. Acknowledgements
2. Certificate of Completion
3. Declaration
4. Content
5. Executive Summary
6. Introduction to the topic
7. Objectives
8. Literature Review
9. Company Profile
10. Research Methodology
11. Analysis and Interpretation
12. Findings and Inferences
13. Limitations
14. Recommendations and Conclusions
15. Appendices
16. Bibliography

EXECUTIVE SUMMARY
There is no standard marketing strategy for business in the era of accelerated
innovation. There are many stages in identify marketing strategy and sales. Thus, to
determine proper marketing strategy or business strategy depend on the product and
service your company wants to market. To identify the right approach, you should carry
out situational analysis market growth, strength, weakness, demographics, competitor
analysis, opportunity, threats regarding cost structure of production, market stability and
market exit backed with reliable data.

Once you gain clarity on your market, then apply your learning from the analysis to best
fit for product or service to sale. There are ten of thousand articles, books and webinar
on marketing; you can use those to learn and experiment.

Sales strategies can include, but are not limited to: a detailed plan of best practices and
processes set out by management, from how to research and qualify prospects, cold
calling, pitching, and the sales presentation, to closing techniques and account
management policy.
 Chapter – I

Introduction to the topic

This project aims at studying ofpricing and marketing strategies

being used by the Real estate industry

Real Estate

Real estate is an item of real property, buildings or housing in general. Real estate
business is the business of real estate; the profession of buying, selling, or renting
land, buildings, or housing.
The real estate sector is one of the most globally recognized sectors. Real estate sector
comprises four sub sectors - housing, retail, hospitality, and commercial. The growth of
this sector is well complemented by the growth of the corporate environment and the
demand for office space as well as urban and semi-urban accommodations. The
construction industry ranks third among the 14 major sectors in terms of direct, indirect
and induced effects in all sectors of the economy.

CONTRIBUTION OF REAL ESTATE TOWARDS INDIAN ECONOMY

Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030
from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by
2025. Retail, hospitality and commercial real estate are also growing significantly,
providing the much-needed infrastructure for India's growing needs.

E-commerce have registered high demand for office space in recent times. Commercial
office stock in India is expected to cross 600 million square feet by 2018 end while office
space leasing in the top eight cities is expected to cross 100 million square feet during
2018-20. Gross office absorption in top Indian cities has increased 26 per cent year-on-
year to 36.4 million square feet between Jan-Sep 2018. Co-working space across top
seven cities has increased sharply in 2018, reaching 3.44 million square feet, compared
to 1.11 million square feet for the same period in 2017.

MARKET
‘Market’ refers to a place where goods are purchased and sold, e.g., vegetable market’,
cloth market’, ‘fruit market’ ‘grain market’ etc. In simple words, it refers to a place where
actual buyers and sellers meet to effect purchases and sales. The term ‘market’ does
not only mean a particular place where goods are bought and sold but the whole of any
region in which buyers and sellers purchase and sell.

It should be clearly understood here that the word ‘market’ does not refer to any
particular geographical meeting place of buyers and sellers but as the getting together
of buyers and sellers in person, by mail, telephone or other means of communication.
‘Market’ is not essentially concentrated at one particular point; it can scatter throughout
the region.

What Is Marketing?

Marketing refers to activities undertaken by a company to promote the buying or selling

of a product or service. Marketing includes advertising, selling, and delivering products
to consumers or other businesses

Understanding Marketing

Marketing as a discipline involves all the actions a company undertakes to draw in

customers and maintain relationships with them. Networking with potential or past
clients is part of the work too, including writing thank you emails, playing golf with a
prospective client, returning calls and emails quickly, and meeting with clients for coffee
or a meal.

At its most basic, marketing seeks to match a company's products and services to
customers who want access to those products. The matching of product to customer
ultimately ensures profitability.

THE FOUR P’S IN MARKETING.

Product
Product refers to an item or items the business plans to offer to customers. The product
should seek to fulfill an absence in the market, or fulfill consumer demand for a greater
amount of a product already available. Before they can prepare an appropriate
campaign, marketers need to understand what product is being sold, how it stands out
from its competitors, whether the product can also be paired with a secondary product
or product line, and whether there are substitute products in the market.
Price
Price refers to how much the company will sell the product for. When establishing a
price, companies must give considerations to the unit cost price, marketing costs and
distribution expenses. Companies must also consider the price of competing products in
the marketplace and whether their proposed price point is sufficient to represent a
reasonable alternative for consumers.

Place
Place refers to the distribution of the product. Key considerations include whether the
company will sell the product through a physical storefront, online, or through both
distribution channels.

Promotion
Promotion, the fourth P, refers to the integrated marketing communications campaign.
Promotion includes a variety of activities such as advertising, selling, sales promotions,
public relations, direct marketing, and sponsorship.

Promotions will vary depending on what stage of the product life cycle the product is in.
Marketers understand that consumers associate a product’s price and distribution with
its quality, and they take this into account when devising the overall marketing strategy.

Steps of Marketing

1. Analysing Marketing Opportunities

The First step in marketing process is to analyzing market opportunities. After analyzing
the marketing opportunities only then marketer and C-suite executives can
availing them by satisfy the customer's requirements. If a particular company best
satisfy customer requirements this will also give competitive advantage and edge to the
company. Analyzing the marketing opportunities is very
important in marketing planning process. Marketer and C-suite executives must
analyze the long-run opportunities in the market for the purpose of rapid growth as well
as to improve the business unit's performance. To evaluate marketing
opportunities, companies needs to operate a reliable and well managed marketing
information system.
There are so many techniques and frameworks that can help in situational analysis.

1. 5 c analysis
2. PEST analysis
3. SWOT Analysis

2. Selecting the target Market

To succeed in today's competitive marketplace, it becomes compulsory that

companies must be customer centered. They must divert the customers from the
competitors towards them and keep them by delivering greater value and desired
satisfaction. A sound marketing strategy always
requires a careful, deliberate analysis of consumers and consumer’s behavior
As a marketer or business student you know that
companies cannot satisfy all consumers in a given market area, so successful
companies divide up the total market in different segments which called market
segmentation and then they choose the best segments (market targeting). After that
they design strategies for profitably serving and satisfying targeted
segments better than their competitor that is called the market positioning.

So successful companies select the target market then learn about the
needs, characteristics, or behavior of targeted market
which might require separate products or marketing mixes.
3. Developing the Marketing Mix
As in previous step of the marketing process company has decided marketing strategy
to targeted market now this is the time to begin planning for
marketing mix. Marketing mix is a set of controllable
marketing variables that the firm blends to produce and satisfy the wants of
targeted market.

An effective marketing program always reflect elements of marketing mix into

designed to achieve the company's marketing objectives and goals by delivering value
and satisfaction to consumers. This required focus on marketing 4 P’s & 4Cs which are
mentioned as below:

Product = Customer Solution.

Price = Customer Cost.
Place = Convenience.
Promotion = Communication.

4. Managing the Marketing Effort

After designing and putting into action the marketing mix then companies requires to
manage the marketing effort to achieve its objectives and goals in target markets. This
step actually needs the four management functions
that are: analysis, planning, implementation, and control. If management will focus on
these four functions then they will definitely achieve desired company goals and
objectives.

Features of Marketing:

1. Identification as well as assessment of markets and sales forecasting.

2. Formulation of marketing policy to cater to the market chosen.
3. Planning and operation of the marketing organization to achieve the desired level of
sales and to deal with the customers.
4. Organization and conduct of sales promotion through salesmanship, advertising and
other methods.
5. The costing and budgeting of the market effort.
6. Measurement and review of the result of marketing effort in order to check whether
the firm is providing the desired level of consumer satisfaction.

IMPORTANCE OF MARKETING

(1) Marketing Helps in Transfer, Exchange and Movement of Goods:

Marketing is very helpful in transfer, exchange and movement of goods. Goods and
services are made available to customers through various intermediaries’ viz.,
wholesalers and retailers etc. Marketing is helpful to both producers and consumers.

(2) Marketing Is Helpful In Raising And Maintaining The Standard Of Living Of The
Community:

By making available the uninterrupted supply of goods and services to consumers at a

reasonable price, marketing has played an important role in raising and maintaining
living standards of the community. Community comprises of three classes of people i.e.,
rich, middle and poor. Everything which is used by these different classes of people is
supplied by marketing.
(3) Marketing Creates Employment:
Marketing gives employment to many people. It is estimated that about 40% of total
population is directly or indirectly dependent upon marketing. In the modern era of large
scale production and industrialization, role of marketing has widened. This enlarged role
of marketing has created many employment opportunities for people.

(4) Marketing as a Source of Income and Revenue:

The performance of marketing function is all important, because it is the only way
through which the concern could generate revenue or income and bring in profits.
However, someone must actually go into the market place and obtain dollars from
society in order to sustain the activities of the company, because without these funds
the organization will perish

(5) Marketing Acts as a Basis for Making Decisions:

In the past problems was less on account of local markets. There was a direct link
between producer and consumer. In modern times marketing has become a very
complex and tedious task. Marketing has emerged as new specialized activity along
with production.

(6) Marketing Acts as a Source of New Ideas:

The concept of marketing is a dynamic concept. It has changed altogether with the
passage of time. Such changes have far reaching effects on production and distribution.
With the rapid change in tastes and preference of people, marketing has to come up
with the same.

(7) Marketing Is Helpful In Development Of An Economy:

Marketing is the kingpin that sets the economy revolving. The marketing organization,
more scientifically organized, makes the economy strong and stable, the lesser the
stress on the marketing function, the weaker will be the economy.
Advantages of Marketing

1. Marketing Widens the Market:

Marketing draws out the hidden wants of consumers, creates new demand, locates the
untapped areas and finds out the possibilities of selling new products. It thus enlarges
the market and enables the producers to increase production and earn more profits

2. Marketing Facilitates Exchanges in the Ownership and Possession of Goods

and Services:
It creates time, place and possession utilities for the goods and services. It is helpful to
both producers and consumers. Producers come to know about the specific needs and
preferences of the people and the customers about the products that manufacturers can
offer.

3. Marketing Helps in Optimal Utilization of Resources:

As the marketing efforts widen the area of market, the producers can utilize their
resources, otherwise remaining partly utilized, to the maximum. This optimum use of
resources reduces the total cost per unit.

4. Marketing Accelerates Other Activities:

Because of marketing so many other activities such as banking, transport, insurance,
warehousing, etc. get a boost as they are needed more to help in the marketing
process.

5. Marketing Increases the National Income:

National income is the sum total of goods and services that a nation possesses. The net
effect of all marketing efforts is a rise in production of existing industries, investment in
new industrial units and provision of more services. The nation becomes richer with the
increase in its national income and there is a rise in per capita income. The economy
rises from underdeveloped stage to developing stage and then marches towards a
developed economy.

6. Marketing Raises the Standard of Living:

With the provision of more items of necessities, comforts and luxuries, cheaper as well
as costly and with more services and amenities as its disposal, the community enjoys a
higher standard of living. Even the poorer sections of society find many more things
within their reach because of lowering of costs of commodities and services. Paul Mazur
says “marketing is the delivery of a standard of living to society”. Prof. Malcom Me Nair
added further that “marketing is the creation and delivery of standard of living to
society.”

7. Marketing Provides Gainful Employment Opportunities:

Marketing creates a climate for more production and services. It also results in more
social overhead as more roads, more warehousing facilities, more transport and
communication, more banks, more training and technical institutions, more manpower is
needed for the same and the avenues of employment increase. Moreover, marketing is
a complex mechanism involving a number of functions and sub-functions which call for
different specialized personnel for employment. It is estimated that 30 to 40 per cent of
total population is engaged in direct or indirect marketing activities.

8. Marketing Stabilizes the Economic Conditions:

Marketing not only sets the economy revolving but also provides steady and stable
economic conditions where all are happy. It bridges the gap between producer and
consumers. It is a connecting belt between the two wheels of the economy of a nation,
i.e., the production and the consumption. Marketing by balancing production with
consumption, provides stable prices, full employment and a strong economy.

9. Marketing Acts as a Basis for Making Decisions:

An entrepreneur is confronted with many problems as to what, how, when, how much
and for whom to produce? In the past, there were lesser problems on account of local
markets and direct link between the producers and the consumers. But in modern times,
marketing has become very complex and tedious. It has emerged as a new specialized
activity along with production. As a result, producers are largely dependent upon
marketing mechanism to decide which, how when and how much to produce.

10. Marketing Provides Maximum Satisfaction of Human Wants:

It serves as an effective link between the business and the society, removes hindrances
of knowledge, educates people, cultivates their minds, lures them to buy the best and
thus enables ultimately to get maximum satisfaction.
Disadvantage of Marketing

Cost

Adverting and marketing costs money. If you don’t do the proper research then
you might end up throwing money away. Wasting marketing efforts by targeting
the wrong audience using an inappropriate medium would be a serious and costly
mistake. So it is important to do your research beforehand and keep your costs to
a minimum.

Investment of Time

Researching the appropriate marketing strategy, designing and writing the

adverts, getting them published, dealing with any response. It’s important to spend
time keeping track of how successful or not your marketing campaign is. A
potential disadvantage of marketing here is the risk of time wasted for an
unsuccessful campaign.

Competition in the Market

Competition in the marketing space may be another disadvantage. You want your
advert to stand out, but unless you can afford to pay for a full page spread you will
be competing with the other businesses scrambling for attention

Marketing Strategy

A marketing strategy refers to a business' overall game plan for reaching prospective
consumers and turning them into customers of the products or services the business
provides. A marketing strategy contains the company’s value proposition, key brand
messaging, data on target customer demographics, and other high-level elements
The Creation of Marketing Strategy

A carefully-cultivated marketing strategy should be fundamentally rooted in a company’s

value proposition, which summarizes the competitiveadvantage a company holds over
rival businesses. For example, Walmart is widely known as a discount retailer with
“everyday low prices,” whose business operations and marketing efforts revolve around
that ideal.

Whether it's a print ad design, mass customization, or a social media campaign, a

marketing asset can be judged based on how effectively it communicates a company's
core value proposition. Marketresearch can be helpful in charting the efficacy of a given
campaign, and can help identify untapped audiences, in order to achieve bottom-line
goals and increase sales.

Types of Marketing Strategy

1. Paid advertising

This includes multiple approaches for marketing. It includes traditional approaches like
TVCs and print media advertising. Also, one of the most well-known marketing
approach is internet marketing. It includes various methods like PPC (Pay per click) and
paid advertising.

2. Cause marketing

Cause marketing links the services and products of a company to a social cause or
issue. It is also well known as cause related marketing.

3. Relationship marketing

This type of marketing is basically focused on customer building. Enhancing existing

relationships with customers and improving customer loyalty.
4. Undercover marketing

This type of marketing strategy focuses on marketing the product while customers
remain unaware of the marketing strategy. It is also known as stealth marketing.

5. Word of mouth

It totally relies on what impression you leave on people. It is traditionally the most
important type of marketing strategy. Being heard is important in business world. When
you give quality services to customers, it is likely that they’d promote you.

6. Internet marketing

It is also known as cloud marketing. It usually happens over the internet. All the
marketing items are shared on the internet and promoted on various platforms via
multiple approaches.

7. Transactional marketing

Sales is particularly the most challenging work. Even for the largest retailers, selling is
always tough especially when there are high volume targets. However with the new
marketing strategies, selling isn’t as difficult as it was. In transactional marketing the
retailers encourage customers to buy with shopping coupons, discounts and huge
events. It enhances the chances of sales and motivates the target audience to buy the
promoted products.

8. Diversity marketing

It caters diverse audience by customizing and integrating different marketing strategies.

It covers different aspects like cultural, beliefs, attitudes, views and other specific needs.

Marketing Strategy of Real Estate

1. Identify the target market

Many real estate brokers and businesses focus on a niche market and become an
expert in that market. This gives you an idea about what’s driving the target market
currently, what risks are involved, and most importantly where the market is headed in
the short and long term.

For example, a real estate broker who knows the details about a new transportation or
school project coming locally could change his marketing strategies accordingly.

2. Budget for marketing expenses

Another major factor in successfully expanding your real estate business is to develop a
marketing budget and stick to it.

There are literally hundreds of avenues to spend your marketing dollars on, such as real
estate websites, email marketing, social media marketing, and postal marketing.

Your spend must be based on your target audience. For example, customers in the San
Francisco bay area might require internet-based marketing, whereas customers in a
rural area might require a different approach.

3. Create a website and use social media

Regardless of the market, you must establish your presence on the internet with the
help of a professional website, as well as dedicated accounts on social media sites such
as Facebook, Twitter, and LinkedIn. These are relatively inexpensive, with the potential
for huge outreach.

You can also market your business on search engines such as Google and Bing, by
paying for ad campaigns.

4. Encourage referrals and word-of-mouth

Most successful real estate agents generate several deals through referrals from
previous customers. A customer referral is most valued by a new buyer or seller.
For example, new customers are more comfortable selecting a real estate agent when
referred by a friend, colleague, or relative. You can always boost this approach by
offering referral bonuses to the person who refers a new customer.

5. Respond quickly

We live in a world that is moving at a much faster pace than ever before. It is very
important to respond to customer queries or else you will risk losing new business.

You must have access to email via a smartphone at all times and ensure that you
respond to a customer request as soon as possible. You cannot wait to respond until
the next day in this business. If you are prompt in responding, it adds to your credibility
and reputation.

6. Publish a real estate newsletter

If you are serious about your long-term success, then you may consider publishing a
weekly or monthly newsletter with updates on current mortgage rates, changes in real
estate laws, benefits of homeownership, how to develop a real estate investment
portfolio, health checks on the local market, and so on.

All current and prospective customers would appreciate the insights from such a
newsletter, as it shows your knowledge and commitment to the business.

7. Dispel questions on the need for a real estate agent

Disintermediation refers to the mindset where customers wonder whether they really
need a real estate agent or not. Disintermediation marketing targets such customers to
convince them of the value offered by a real estate professional.

You can educate the customers via your website or marketing channels on the need for
a real estate agent and lawyer during the sales or purchase of a house or piece of land.
8. Plan for success

Regardless of whether you are a real estate agent or a real estate developer, you will
need a real estate development business plan. This will set you up for success

Many people fail when they work in a vacuum without such planning. For example, you
can plan your budget for next year’s real estate marketing strategies with the help of a
well-documented business plan.

9. Develop brand awareness

Just like big brand businesses, your real estate business must also strive to develop a
brand of its own. It could be under your name or your business’s name. Any real estate
sales strategy that you apply must keep this concept in mind.

People often wonder how to get into real estate sales and how to successfully build a
business. The answer lies in planning to develop a name brand and using it to market
the business for years to come.

Advantage of Marketing Strategy

Promotes Your Business to a Target Audience

You can’t sell your products or services without appealing to the people most likely to
buy those products and services. That group is known as your target audience, and a
marketing strategy is the most effective way to reach that all-important group. If you
have targeted this group correctly, you know their habits, behaviors, wants, and needs,
and you also know where they like to hang out on social media. This information shapes
the methods you will use to promote your business. For example, if you own a comic
book store, online marketing can be more beneficial than traditional advertising to help
you reach your audience on social media platforms.

Helps You Understand Your Customers

You have to do market research before you develop a marketing strategy, and that
research can provide you with reams of data that you can use over and over to help
refine your product development and to keep up with trends and shifts in your target
audience’s behavior. With the evolution of digital information, even small businesses
have access to hyper-detailed information about prospective customers. This is known
in the digital world as “big data,” large data sets that give you a deep analysis into
customer behavior based on factors such as online activity, buying activity, mobile
activity, and interactions at stores and shops.

Helps Brand Your Business

Your marketing strategy isn’t just about boosting leads and converting them into buyers,
it’s also about expressing the culture, values, and purpose of your business. The
process of communicating that vision to your audience is the essence of branding. For
example, Apple’s marketing strategy is all about simplicity, elegance, design, and
function. Their products are sleek, simple, beautiful, and offer multiple functionalities.
When people think of Apple, they think of a company whose products are always on the
cutting-edge of technology, design, and physical attractiveness.

Disadvantage

Costs of Marketing

Although the digital revolution has somewhat evened the playing field, the truth is that
small business is still at a disadvantage, when it comes to grabbing their share of
eyeballs through their marketing efforts. Big data has great value, but accessing that
data is expensive, and you have to keep analyzing that data to stay abreast of buyer
trends. Launching a marketing campaign on your website can also be expensive,
especially if you’re using a pay-per-click strategy to attract more prospects. Television
and radio advertising spots are also costly, and even local advertising space is at a
premium, because there is so much competition for the local audience.

Time and Effort May Not Yield a Return

Big brands can afford to spend time and effort working on a marketing campaign that
fails, because they have the resources to regroup and move on. As a small business
owner, however, the return on investment on a marketing campaign may be low, and
that means you have spent months crafting a strategy that did nothing to help your
bottom line. Even the most well-planned marketing campaigns fail, and at the small
business level, that can set you back for months.
Pricing

Pricing is the process whereby a business sets the price at which it will sell its products
and services, and may be part of the business's marketing plan. In setting prices, the
business will take into account the price at which it could acquire the goods,
the manufacturing cost, the market place, competition, market condition, brand, and
quality of product

Pricing in Real Estate

List price is the price that an available property is advertised on the market for. That
amount would show up in every advertisement for the home, so potential buyers would
know what the seller's price for the home starts at. Sellers don't always sell their homes
for the list price. Sometimes they will get more, and sometimes they will get less. This
depends on the current market conditions.

Sales price is the price that the buyer actually pays for the property. It is the amount
that will be entered into the sales contract and the amount that a lender will take into
consideration when providing a mortgage for the property.

An appraisal plays a big part in the final sales price of a home. If a lender is involved in
the transaction, the lender must ensure that the home is worth the amount that will be
loaned. An appraisal will be done, typically pulling in information about current market
conditions. For example, an appraiser will look at similar properties in the area that are
comparable to the property being sold. Adjustments will be made when comparing
properties, taking into consideration the condition of each property. If one property is
completely updated with granite countertops and stainless steel appliances, and
another is outdated with laminate countertops and old appliances, the updated home
will likely fetch a higher price.

A good real estate agent will also review comparable properties before listing a home.
He will also review comparable properties to advise clients on a good price to offer
when clients are interested in purchasing a property. A property listed on the market at
a high price won't attract many buyers, and a buyer that offers too much on a home may
lose out when the property is appraised and the home doesn't meet the appraisal value
needed for the bank to fund the mortgage. All of these factors will affect an agent's list-
to-sell ratio.

Marketing rules under RERA Act

1. It is well known that great property images are essential to effective real estate
marketing, but you do not want to go so far as to make them deceiving.

2. Marketing collaterals should not contain false or misleading information.

3. RERA registration number and website details to be provided in marketing collaterals.

4. Project website to be periodically updated based on the progress of the project.

5. Sale able area related specification in the marketing collaterals to mention “Carpet
Area’’ as per RERA.

6. Exempted projects, it is important to ensure that oc has been obtained and mention
such OC reference number.

7. Ensure that the registration no. granted by RERA is disclosed on all advertising
materials as well as on company website and website of channel partners.

8. Ensure that pre-RERA advertising materials is withdrawn and only RERA complaint
advertising materials is being used.

9. Any claims made about any property or land characteristics in any photographic
representations should be accurate and should not give prospective buyers, any wrong
impression.

10. Photographic enhancements by touching up to hide undesirable characteristics or

enhance other features could mislead consumers.

11. If testimonials are used such as quotes or other comments from satisfied to promote
real estate development, they must be accurate.
 CHAPTER-II

OBJECTIVES OF THE STUDY

Objectives
The research is based on the study of marketing strategy used by Real estate. The
objectives of my study are as follows:

1. To study the home buyer’s perception towards residential real estate.

2. To know effect of marital status on home buyers level of satisfaction for residential.

3. To know the pricing of the real estate industry.

 CHAPTER-III

LITERATURE REVIEW

Literature Review

The realty industry today has changed so much that each sector needs special skills to
make it work efficiently. All over the world, prices are fluctuating. Global agencies
monitor trends in the top influential cities.
With many foreign investments in India and NRIs returning, the Indian property market
watch is on the top most of every big agency. Mumbai is the costliest city to live in Asia.
The purchasing power of the new generation of Indians has increased. They are
investing in real estate in a big way- in terms of investment and assets. People have
acquired refined tastes in housing needs and become professional in dealing with
builders.
Financial companies and banks have given a boost to real estate marketing as well. To
add to this the government has allowed foreign investors also to test the market
conditions here have helped. Every area of real estate be it industrial, retail space,
malls, office complexes, residential colonies, hospitals, clinics and other healthcare
units have a vast potential for growth.

As more opportunities grow for people to work they also wish to invest in places close
by to live in. Builders or developers in various regions are now separately marketing
each space.
Even home loan companies and banks are independently marketing the properties they
are giving loans. This helps them to guide their dedicated clientele and ensure the
marketing trends remain closely monitored for future development.
Various tie ups with groups in India and overseas have taken place this year
with increase in FDI. Nowadays most of real estate focus is on shopping malls and
residential complexes. In some areas down south, the thrust is on IT parks, and
corporate offices and resorts.

Chua (1999) studied the role of international real estate in a mixed-asset portfolio while
attempting to control higher taxes, transaction costs and asset management fees
incurred when investing in real estate, as well as the appraisal smoothing in real estate
return indices.

According to experts tracking the realty sector, sites such as Magicbricks.com,

99acres.com, Makaan.com, IndiaProperty.com and Common Floor.com are fast
becoming the choice of consumers looking for renting a property, as well as for
developers.

The online real estate market is yet to reach an inflection point as seen in the travel or
e-commerce sector. However, with the penetration of internet, more and more
consumers in the urban areas have started using this medium as the first point of
search for all their real estate needs. Many newly-launched real estate projects in good
locations are losing out on sales because of faulty marketing vision.

In changing real estate and construction market, the old thumb rules used by industry
specialists sometimes stops beingvalid. There is a fundamental shift in the market rules.

Sometimes the investments involved in the industry are very high and these
investments are built on speculation. It is very valuable to collect data on the market
dynamics in a scientific manner to reduce risk.

This indicates that the seven factors whose rating has been given by the respondents is
analyzed and shows that all the factors have no significant impact on marketing
strategies. These factors have proved to be incremental in affecting the marketing
strategies adopted by any real estate company. Further, one way has validated that the
seven factors do not significantly affect the marketing strategies of real estate
companies.

(3 books)
 CHAPTER-IV

COMPANY PROFILE

ABOUT THE COMPANY

ABOUT INDIANBHOOMI.COM

Indiabhoomi.Com Private Limited is a certified company, established in 2001 in New

Delhi. It’s headquarter is in Vasantkunj, New Delhi.

Indiabhoomi.com is a real estate marketing company, whose headquarter is situated in

South Delhi. The company’s core operations are to promote real estate projects and
provide facilities like site-visits, financing, loan, process assistance, registry assistance
etc.

History

Mr. Kuldeep Rawat is a man of action. He believes in acting rather than just hoping. He
started his career as a sales person in the year 2001 and has works in many respected
organizations like RPGs Group Music World Entertainment, Northland India pvt.ltd.,
Raymond ltd., Carlson Group Radisson Blu, H4E Real Estate News, BCI and GLF as
event coordinator, Kiera Homes as sales and marketing manager. Now it’s been 17
years of work experience and he believes that its time to utilize these past experiences
to serve even better to our clients and thus he founded Indiabhoomi.com in 2015 and
from there on there is no looking back. He has earned trust and goodwill in the market
by this excellent services and delivering customer values at large.

Mission

Indiabhoomi.com is best known for its smooth and client centred services. It has
undertook marketing and selling activities for many affordable and luxury apartment and
flats. Some of them are Sky Apartment, Unity Apartment, Tulip Apartment, and Silver
Oakwood Apartment, Imperial Apartment etc. based in areas like Mahipalpur,
Chattarpur, Mehrauli, Vasantkunj, and Shantikunj. The company not only believes in
client satisfaction rather it also helps the client to find the property that fits their needs
the best and safeguards their interest. It ensures that the investment being made by the
people are appreciated and secure. The company works only with trusted and
registered builders and assure timely delivery of projects.

Vision

The vision of Indiabhoomi.com is to harness talent and technology to make the real
estate industry more reliable and trustworthy in the eyes of end user.

Values
Transparency & Integrity

Quality & Assurance

Diligence

Customer Service & Focus

Branches

Vasantkunj (Headquarter)

Kishangarh

Mehrauli

Mahipalpur

South Extention II

Gurugram (NCR)

Noida Sec 18 (NCR)

Dwarka

Products

The company deals in a variety of services and with its PAN India online presence
ensures to provide services on time.

The name of services are mentioned below-

Services
Basic lead posting Pack
Platinum Listing Pack
Featured Static Listing (FSL)
Locality banners
 Top Dealer Badge
Property Verification
General power of attorney assistance
Property registry assistance
Agreement to sell
Stamp Duty and stock holding
Property registration and documentation verification

Employees

Over 80 people work with indiabhoomi.com at headquarters in both offices including all type of
workers, i.e. skilled, semi-skilled & unskilled labourers and managers. Around 65% of the
employees are skilled managers whereas, 35% employees are semi-skilled and unskilled
labourers.

Key Management Personnel

Kuldeep Rawat, MD

Nitya Nand Kashyap, Accounts

Ravish Kumar, site engineer

Ankit Tyagi, Senior Manager

Mansi Rawal, Branch Head-Delhi

Pawan Wadera, Assistant Manager-HR

Amit Tanwar, Assistant General Manager-Accounts

Competitors

Investors Clinic

Brick on Brick

Antriksh group

Square Yard
360 Degree investing

Nakshtra, Dwarka

Land and Title pvt.ltd.

Akhil Space

Housing Solution

Indianbhoomi Group over its competitors:

Service Advantages

09 Years Free Service on purchase of Authorized properties.

Turnkey Solution on disputed plots.

Service for Brokers.

Service for Buyers.

Comprehensive chart for after sales.

Qualified & Trained Personnel for Support.

Excellence
Assurance of genuine properties at the most competitive prices.
Our marketing and service facilities are available in many areas.
We possess a team of experienced and dynamic professionals.
We welcome customer feedback and queries.

Key advantages include:

Quality products from best builders.

Ex stock availability
On time Delivery
Best Price & transparency
Efficient Service
Team work
PAN India Presence
Our Customer relationship management (CRM), Inventory, Financials, Sales &
Service operations are running on SAP
Proactive to your requirements

Driven with commitment

Indiabhoomi.com is a company that is driven with zeal and commitment to achieve the
highest levels of success and will grow beyond all expectations. We provide basket of
products under one roof to meet various project requirements. The company principally
competes on the basis of product quality and performance, reliability of supply, timely
delivery, customer service and price.

The preferred choice

Indianbhoomi Group along with its brands, have earned the distinction of being the
preferred choice of marketing products in India. The essence of Indianbhoomi Group’s
success lies in the expertise of its fine team of professionals, strong relationships with
associates and the ability to adapt quickly, coupled with the vision to always think ahead
 CHAPTER-V

RESEARCH METHODOLOGY
Purpose of the study

The research has been done to study marketing strategies being used by real state.

Research Design

Descriptive research design has been used in this study. Descriptive research is also
called Statistical Research. The main goal of this type of research is to describe the
data and characterises about what is being studied. Descriptive research is used to
obtain information concerning the current status of the phenomena to describe “what
exists” with respect to variables or conditions in a situation.

Sources of data collection

a. Primary Data: Primary data is the main and raw source of data collection through
interaction with the staff of the company and structured questionnaire. Structured
Questionnaire is a quantitative method of research. It is a positivist research method.

b. Secondary Data: Secondary data is data taken by the researcher from secondary
sources, internal or external of the organisation. Secondary data is collected from
following sources: -

● Internet
 ● Book
● Journals
● Publications
● Website of the company etc.

Primary research has been done in this project.

Sampling Procedure

Sample Technique: Simple random sampling

Simple random sampling refers to the sampling technique in which each and every item
of the population is given equal chance of being included in the sample. Random
sampling is sometime referred to as “Representative Sampling.” If the sample is chosen
at random and if the sample is sufficiently large, it will represent all groups in the
population. A random sample is also known as “Probability Sample” because every item
of population has equal opportunity of being selected in the sample.

Sample Area: Delhi

Sample Size: 50
 CHAPTER-VI

ANALYSIS AND INTERPRETATION

1. Do you think in Real Estate sector, 'Professional Marketing" exists?

a)Yes

b)No

c)May be

Interpretation

Out of the sample size of 50 employees, 40% of the sample size think that Professional
Marketing exists in real estate sector. 40% of the sample size thinks that maybe
Professional Marketing exists in real estate sector. On the other hand, 20% of the
sample size feels that Professional Marketing is not exists in real estate sector.

2.How do you attract your prospective customers?

a) Discover Where Your Customer Lives

b) Try Direct Response Marketing

c) Position Yourself as the Answer

Interpretation

In sample size of 50 employees, 50% of think that to attract the customers discover
where your customer lives. 30% of sample size think that position yourself as the
answer. On the other hand, 20% of sample size think that try direct response marketing.
3. Do you think, Office welcome, Environment and refreshments like free lunch etc.
help in Better CRM development?

a) Yes

b) No

c) Maybe

Interpretation

In sample size of 50 employees, 50% of the sample size think that Office welcome,
Environment and refreshments like free lunch etc. cannot help in better CRM
development. 30% of the sample size think that Office welcome, Environment and
refreshments like free lunch etc. help in better CRM development. On the other hand,
20% of the sample size think that Office welcome, Environment and refreshments like
free lunch etc. maybe help in better CRM development.
4. Do you think, personalized messages and greeting on anniversary and birthday will
help in better CRM?

a) Yes

b) No

c) May be

Interpretation

In sample size of 50 employees, 50% of the sample size think that, personalized
messages and greeting on anniversary and birthday will help in better CRM. 30% of the
sample size think that, personalized messages and greeting on anniversary and
birthday will cannot help in better CRM. On the other hand, 20% of the sample size
think that, personalized messages and greeting on anniversary and birthday will may be
help in better CRM.

5. What does the modern homebuyersor renter WANT from a real estate company?

a) Amazing customer service

b) Honesty in terms of home policy

c) Transparency in terms of pricing

Interpretation

In sample size of 50 employees, 40% of the sample size think that modern homebuyers
or renter WANT amazing customer service from a real estate company. 40% of the
sample size think that modern homebuyers or renter WANT honesty in terms of home
policy from a real estate company. On the other hand, 20% of the sample size think that
modern homebuyers or renter WANT transparency in terms of pricing from a real estate
company.

6. What do you think are the biggest problems in real estate marketing?

a) Unaware of new tools

b) Tracking what works

c) Making the Right Hires

Interpretation

In sample size of 50 employees, 40% of the sample size think that biggest problems in
real estate marketing is unaware of new tools. 40% of the sample size think that biggest
problems in real estate marketing is making the right hires. On the other hand, 20% of
the sample size think that biggest problems in real estate marketing is tracking what
work.
7. How much influence do you feel advertisement have over consumer’s buying
behaviour?

a) Large influence

b) Medium influence

c) Small influence

d) Cannot say

Interpretation

In sample size of 50 employees, 60% of the sample size think that large influencefeel
advertisement have over consumer’s buying behaviour. 20% of the sample size think
that medium level of influence advertisement have over consumer’s buying behaviour.
On the other hand, 10% of the sample size think that small level of
influenceadvertisement have over consumer’s buying behaviour.
 CHAPTER-VII

Findings and Inferences

Findings and Inferences

Advertising

Advertising properties listed for sale represent implied endorsements of agents’ competence
and trustworthiness. After all, the owners of the properties advertised for sale must have
believed the agents to be competent and trustworthy; otherwise they would not have hired them
to help sell their properties.

Networking

Networking is the most multi-faceted, versatile and effective marketing tool available to real
estate agents. Among other things, it allows them to exchange information and showcase their
trustworthiness. Above all, it also makes it possible to interact with other people, who ideally will
like and trust an individual agent well enough to do business with, and refer others to him or her.

Prospecting

The best way to develop a client base is by well-focused prospecting. Prospecting is an

essential marketing strategy. It generates new leads that can be converted into clients. It also
provides the inflow of new clients. These clients will ultimately become part of the pipeline by
contributing repeat and referral business.

A Benefit for All Agents

All real estate agents can benefit from applying the best marketing practices of high producing
agents. Specifically, this means that the key marketing strategies of high producing agents will
help you attract clients.
CHAPTER-VIII

LIMITATION

LIMITATION
1. Due to time constraints the sample size had to be confirmed to 50.

2. The respondents have replied to the queries recalling from their memory. Therefore
recall bias and personal bias are possible.

3. The respondents I approached did not agree to the need and utility ofthe project and
hence not agreed to provide me the information.

4. The behaviour of the customer is unpredictable which may result in the lacking of
accuracy in the data.

5. My survey consisted of 90% male and 10% of female, which led togender biasness.

6. As the sample size of the survey was so small and comprise of only 50 employees,
the results may have some prone to errors

7. Study accuracy totally based upon the respondents response.

8. Unable to getting the co-operation of the employees

9. Stipulated short span of time for survey

 CHAPTER-IX

Conclusions

Indian real estate market is undecided in current state as the economy is under
continuous pressure of economy downfall. In current scenario, the property prices are
moving for correction though the real estate market is moving more over towards crash
situation and buyers are waiting till more lowering down of property prices.
In main Delhi location, the property prices have been curbed by 10 to 12% during last
one year but comparatively the property prices have taken a rise of 5% in Delhi NCR
regions whereas property prices.

Despite the recession period, the property developers are still launching new projects
and coming up with attractive marketing ideas to promote sales and even poor
economic situation could not stop the launch of 65000 new units in metro cities. Small
property developers are in huge problem as the giant and established property
developers are launching the project with huge discount and giving subsidy in property
rates but the 221 fact is that, urban India is under shortage of housing and property
prices will surely rise in future though, it is under pressure currently. In this study, the
analysis has been done on the customer satisfaction and marketing strategy towards
real estate industry with respect to Delhi NCR and the study indicates that, the initial
negligence of customer leads to blunder of customer satisfaction issue at later stage.

The fact is sure that, the customer needs a particular property but, one thing is also
true that, the property will also not get vanished in few hours or days from the location
and must not be in hurry during property buying process, also not to agree with one
sided bounding terms and conditions implemented by real estate developer. The
customer must not rely on the information provided by third party as third party is more
interested in their commission and the customer has to check every detail from personal
perspective and also get the documentation properly. In fact, before involving into
financial transaction with property developer, the customer must look that the property
selected by him must be suitable in every aspect.

Though, it has been noticed that, the actual frauds use to be created by developers by
putting up undue terms and conditions on customers and the customer who is looking
for property has to bear those fraudulent terms and conditions because these
developers have made a kind of cartel where the legal procedure is almost same for
every developer. Though, this real estate cartel is not explicitly visible but this cartel has
been formed just be adapting the agreement form applied by one developer to other
developer, putting customer into miserable situation. The era required strict real estate
law, where every issue must be legally implied and the legal fraternity must pose some
power in hand of customers too.
 Chapter – X
Recommendations

Recommendations

Recommendations to the employees:

1. Time management
2. Avoid duplication to task and efforts
3. Set your priorities
4. Rethink your errands
 5. Manage time for Social networking
6. Learn to say no
7. Leave work at work
8. Seek help of counsellors
9. Don’t overbook work
10. Use technology wisely
11. Plan and organise task
12. Use the facilities available for work life balance in organisation.

Recommendations to the organisation:

1. Offer flexibility in work

2. Provide adequate training programmes
3. Promote awareness about work life balance.
4. Providing assurance of security of job.
5. Maintain a balance between centralization and decentralization
6. Strengthening the role of HR department.
7. Continuous improvement in the working conditions of the organisation.
8. Adopt various performance appraisal techniques to motivate employees.
9. Conducting emergency drills to create preparedness for business emergencies
that might occur in future.

Appendix

Questionnaire
Name: ___________________________ Age: ________

Designation: ______________________ Gender: ________

Years of service: a) 1-5 years b)6-10 years c)11-20 years d) Above 20 years

Q1.How do you rate the Working Environment of the Organization?

a. Highly Satisfactory
b. Satisfactory
c. Averagely Satisfactory
d. Dissatisfactory
e. Highly Dissatisfactory

Q2. Do you feel you are able to balance your work life?

a. Always

b. Often

c. Sometimes

d. Rarely

e. Never

Q3. What are the allowances available to you by the company?

a. Bonus

b. Mobile

c. Medical

d. Loans

e. All of these

Q4. How do you rate the medical benefits provided by the Organization for the
employees & their families?
a. Highly Satisfactory
b. Satisfactory
c. Average
d. Dissatisfactory
e. Highly Dissatisfactory

Q5. How do you rate leave policy of the Organization?

a. Highly Satisfactory
b. Satisfactory
c. Average
d. Dissatisfactory
e. Highly Dissatisfactory

Q6. To what degree you have trained for handling any kind of emergency situation in
your work place?

a. Excellent

b. Good

c. Average

d. Poor

Q7. How often do you think or worry about work (when you are not actually at work)?

a. Always

b. Often

c. Sometimes

d. Rarely

e. Never

Q8. Do you ever miss out any quality time with your family or your friends because of
Pressure of work?

a. Always

b. Often

c. Sometimes

d. Rarely

e. Never
Q9. Do you think there should be paid paternity leaves?

a. Strongly Agree

b. Agree

c. Indifferent

d. Disagree

e. Disagree Strongly

Q10. How frequently employees have to overstay in the office to complete their work?

a. Always

b. Most of the time

c. Sometime

d. Rarely

e. Never

Bibliography

www.wikipedia.com

www.slideshare.com

www.scribd.com

www.investopedia.com