Marketing MBA Project
Marketing MBA Project
Project Report On
SUBMITTED BY
THROUGH
This is to certify that Mr./Ms. Akash Balasaheb Jaware has successfully completed a
summer internship project work entitled " Understanding service cum product
perception of consumer for real estate " during the period from 7th August 2023 to 30th
September 2023.
Yours Sincerely,
SHUBHAM SHIVHARE
CEO& Founder – Prop Edge Realty
Teerth Techno space, behind Mercedes Showroom, Baner Pune Ph. no. – 7219176720
Email: - info@propedgerealty.com
DECLARATION
I, the undersigned, hereby declare that the Project Report titled “understanding service cum
product perception of consumer for real estate ” written and submitted by me to the
Savitribai Phule Pune University in partial fulfilment of the requirements for the award of
degree of Master of Business Administration under the guidance of Dr.Govind Kumar Sir is
my original work and the conclusions drawn therein are based on the material collected
by myself.
Date: Signature
Place: Name
ACKNOWLEDGMENT
I would like to take this opportunity to express my sincere thanks and gratitude to my college D.
Y. PATIL INSTITUTE OF MASTER OF COMPUTER APPLICATION AND MANAGEMENT,
AKURDI, PUNE for all their guidance, inspiration, constructive suggestions which helped me in
the project.
The successful start of this project was made by their guidance and co-operation.
I owe my heartfelt gratitude and deep regards towards my guide Dr.Govind Kumar Sir for
leading and directing me at every step of the project. I would like to thank her for her invaluable
help and for her crucial role throughout the course.
Last but not the least I would like to thank all the people who directly indirectly who have helped
and encouraged me in completing the project effectively and timely.
Place: Pune
Date :
INDEX
2 ORGANISATION PROFILE
3 OUTLINE OF THE PROBLEM /
TASK UNDERTAKEN
4 RESEARCH METHODOLOGY
4.1 Introduction
4.2 Research Design
4.3 Sampling Design
4.3.1 Sampling Type
4.3.2 Sampling Method
4.3.3 Sample Size
4.4 Data Collection
4.5 Summary of the research Instrument
4.6 Tools For Data Analysis
4.7 Statistical Techniques
LIST OF TABLES
LIST OF FIGURES
Figure Title Page.
No. No.
LIST OF GRAPHS
Graph Title Page.
No. No.
LIST OF ABBREVIATIONS
Sr.
No Abbreviation Expansion
EXECUTIVE SUMMARY
Project Title : Exploring the lead generation technique in real estate with respect to
Pune market
Duration : 2 month
The real estate market of Pune is expected to see a rising graph on both residential
and commercial fronts, so much so that 2023 will surpass the average of overall
residential sales in the last five years. Potential homebuyers sitting on the fence for some
time can take the plunge now as this is the best time for investment in the real estate
sector.
With the pandemic hitting all sectors, industries and marketers have adopted new
solutions to attract customers. In 2021, we saw rapid acceptance and growth of
PropTech solutions across various stages, from construction, sales, marketing, and
customer interaction to asset management. Apart from engaging customers with the best
suitable deals, developers are now providing them with new-age real estate platforms.
These platforms offer various services, such as virtual tours, apartment management,
online rent agreement, virtual site visits, and digital payment integration, among others.
While Propedge Realty is a leading real estate consultant agency in Pune. Company has a
huge amount of data of customers but it is not able achieve a desirable target due to the
quality of the data generated, hence it is need to understand the factors affecting on
generating fresh and potential leads which will assist the company to understand the loop
wholes and to minimize it hence this study has undertaken with titled Exploring the lead
generation technique in real estate with respect to Pune market.
The study was majorly focused on generating positive leads and understanding the
requirement of the customer and promote the right property to the customers. This was
started from 7 August 2023 and was completed on 30 September 2023.The project
started by briefing and site visits followed by making cold calls to customers and
knowing their requirement across Pune and various another region.
There were 15 questionnaires which were made and asked to the customers. After
completing this study, it was found that the lead generated from websites were more
prosperous, it was also found that price, locality, connectivity, brand image and
amenities are the major factor which is considered by the customers at the time of
purchasing the residential property. The ‘quality’ & ‘facilities’ are most considerable
parameters at the time of selecting residential property. It was also found that the
demand of the 2 & 3 BHK flats were more to comparing other types of residential
properties.
After going through this study, I would recommend PROPEDGE REALTY that they
should try to concentrate on CRM activities, such as loyalty to create strong good will
and gain new customers. Also, they should come up with more Multi Developer events
and should make people aware about their company by using hoardings and social media
campaigns.
INTRODUCTION TO ORGANIZATION
Company Profile:
Working Hours: - 10 Am To 7 Pm
Website: http://www.propedgerealty.com
VISION: To ensure that each Sales Agent, is profitable, positive, passionate and
proactive. Develop premium quality real estate franchise system, providing sustained
value to end users and community. Be recognized and respected as a Leader of
Innovation and Sustainability in the region. Service every town and city within India
with equal passion to enhance customer delight.
INTRODUCTION TO COMPANY:
Prop edge realty is Pune’s foremost channel partner the realty sector. Founded in
2020, by one of PIBM’s student Mr. Shubham Shivhare.Propedge Realty is the Channel
partner Firm of sales& marketing solution for real estate companies that focuses on
product conception and design, product and brand development, market assessment,
scaling up the best-in-class distribution, and CRM solutions, over and above
conventional guidance and consultation for developers. We help developers focus on
what they do best i.e., build best in class commercial and residential spaces, by lending
our support and expertise with a dedicated team of marketing and sales strategists for
each project, capable of creating a differentiated brand identity for the developer and the
project at hand, rooted in scientific research and data, proven sales track record, and
objective led market communication. Propedge Realty is committed to offer
Founding Principles:
1. Customer is King
2. Transparency throughout Sales and After-sales
3. Ethics and Values
4. Building strong relationship with our clients.
Competitors:
1. FANM Properties Services Pvt. Ltd.
2. Ira group Pvt. Ltd.
3. Mind Space Realty Pvt. Ltd.
4. Goyal Properties
5. Square Yards Pvt. Ltd.
6. 99 acres Pvt. Ltd
ORGANIZATION STRUCTURE
Chairman
Employees
Managing Director
3. Generating leads and assist the company to maximizing its revenue was the main task
undertaken during internship.
In order to accomplish the targets of the assignment a survey has been conducted
amongst customers of the actual property marketplace. The survey is based totally on
questionnaire filling technique and restricted to some components of Pune west aspect.
The survey is restricted to the information needed to show legal, technical and financial
transparency between undertaking developer and purchaser.
RESEARCH METHODOLOGY:
INTRODUCTION
What is research? Research can be defined as a scientific and systematic search for
pertaining information on a specific topic. We define research as the systematic design,
collection, analysis and reporting of data and findings relevant to a specific situation
facing the company. The main aim of research is to find out the truth which has not been
discovering yet.
2. RESEARCH DESIGN
A survey research method was the basic research design. I interacted personally with
people through questionnaire method. The Questionnaire had various questions
regarding the respondent’s basic information such as contact details, income, preferred
location, carpet area, amenities, land details and RERA number.
Exploratory research is a type of research conducted because a problem has not been
clearly defined. Exploratory research helps in determine the best research design, data
collection method and selection of subjects. Given its fundamental nature, exploratory
research often concludes that a perceived problem does not actually exist.
It seeks to find out how people get along in the setting under question, what meaning
they give to their actions, and what issues concern them. The goal is to learn what is
going on here? On the other hand, Descriptive research is aimed to find the complete
description about an existing problem or phenomenon.
SAMPLING DESIGN:
Sample design is selecting some of the elements in a population, by which we may draw
conclusions about the entire population. This Study of the geographical area comprising
Pune South region. It has tried to cover local area in these regions. Generally, I met with
the most of the middle and upper middle-class people. The sample size consisting of 85
real estate buyers of these region.
Sampling Method:
Probability sampling method is Selecting a sample from population element that every
member of the population has a chance of being selected. hence, I choose a random
group of individuals from total population by which I may predict the conclusion about
whole population.
Sample Type:
Simple Random sample: In a simple random sample, each population element has a
known and equal chance of selection.
Sampling Size: a group of real estate buyers of Pune South region has selected for study.
sampling size = 85 customers.
DATA COLLECTTION METHODS:
Research has been done by using both primary data as well as secondary data.
1.Primary Data: - The data is collected from questionnaire method & discussion
method.
II. Discussion Method : Data is collected from feedback and the interview of the
customer.
2.Secondary Data :- Secondary data is the data that have been already collected by and
readily available from other sources . The secondary data for this project is collected
from the organization's record , internet, reference books etc. The data is also carefully
analyzed before taking into consideration for further process.
1. The time period is the main limitation. The study has been done in only few
days which were very short period.
Tools for data analysis: - MS Excel is a tool used for analyzing data
DATA ANALYSIS:
Table No.1. Shows the income level of the respondents.
SR INCOME LEVEL NO OF NO OF
NO. RESPONDENTS RESPONDENTS IN
%
1 2.5 L - 5 L 8 9.4%
2 6 L - 10 L 23 27.1%
3 11 L - 25 L 36 42.4%
4 26 L ONWARDS 18 21.2%
TOTAL 85 100%
INTERPRETATION:
The budget is something which matters a lot for customer because in the end the
customer is the one who has to pay. Hence by understanding the income level we can
estimate the tentative budget of the customer. As per the above analysis maximum
customers are come under the income level of 11L to 25L category. As most of the
projects of west pune are in Baner, Waked , and Hinjewadi area the Average cost of 1
BHK range between 40 to 60 Lakh. There are 27% customer falling under 6L to 10 L
category. The Good part is 21.2% of the respondents are having the income above 26
Lakh, which shows high purchasing power.
Table No.2. Shows the age group of the respondent.
Sr AGE GROUP NO OF NO OF
NO RESPONDENTS RESPONDENTS
IN %
1 Below 25 years 26 30.6%
INTERPRETATION:
The above figure shows the age group of the respondent. The maximum number of the
respondents are from 26-40 years (47.1%) age group. This people mostly buy the flats
for living purpose. There are 30.6% of the respondent under 25 years of the category,
this respondent mostly come with family and purpose of buying can be for living or
investment. The minimum number of respondents are from 41 years and above
category, the less number in this category can be because most of the people mostly get
settled before 40 years.
Table No.3. Shows the employment status of the respondent.
SR NO EMPLOYMENT NO OF NO OF
STATUS RESPONDENTS RESPONDENTS
IN %
1 Self Employed 27 31.8%
2 Employee 47 55.3%
3 Worker 11 12.9%
Total 85 100%
INTERPRETATION:
For understanding the customer segment, we need to understand the employment status
of the customer. From the above the analysis, it is interpreted that most of the
respondents are employees i.e., 55.3% where as some are self-employed i.e., 31.8% who
generally purchase property for investment purpose. There is also 12.9% of the
respondent under worker category. The employment status gives us a brief over views
about the choices of the respondent.
Table No.4. Shows the type of real estate respondents searching for.
SR TYPE OF REAL NO OF NO OF
NO ESTATE RESPONDENTS RESPONDENTS IN
%
1 COMMERICAL 24 28.2
2 RESIDENTIAL 62 72.9
3 PLOTTING 45 52.9
4 RESALE 19 22.4
Figure No.4. Shows the type of real estate respondents searching for.
INTERPRETATION:
Understanding the basic need of the customer makes easy to provide a right service to
them. Hence it needs to understand which type of real estate customer wants to buy.
From the above analysis it is interpreted that most of the customers want to purchase
residential property that is 72.9% followed by the Plotting that is 52.9%. The
commercial projects also got good response that is 28.2% followed by Resale property.
Residential Property got most response due to the areas like Baner, Hinjewadi, Wakad
are coming with township plans that will provide everything under one roof.
Table No.5. Shows the types of medium respondent choose will buying the property
SR TYPE OF MEDIUM NO OF NO OF
NO RESPONDENTS RESPONDENTS IN
%
1 Developer 46 54.1%
Total 85 100%
INTERPRETATION:
The Developer and the Channel partner are two mediums through which the selling of
the property in real estate takes place. From the above analysis it is interpreted that there
is very less difference between Developer and Channel partner, but we can see 54.1% of
the respondent wants to go with developer this is because of the trust and no third party
involved in between. There 45.9% of the respondent are willing to go with Channel
partner.
Table No.6. Shows if any Agent has contacted the respondent.
SR AGENT NO OF NO OF
NO RESPONDENTS RESPONDENTS IN %
1 YES 66 77.6%
2 NO 19 22.4%
Total 85 100
INTERPRETATION:
In a real estate having a positive lead is something which matters a lot. Generating leads
need expertise as well as money, the agents invest lot of money as well as their time to
generate positive lead. From the given analysis it is interpreted that maximum number
that is 77.6% of the respondent were contacted by the agents to know their requirement.
The leads are often generated when a person provide their requirements on websites,
apps such as no broker, magic bricks, etc.
Table No.7. Shows various aspects of property.
4 Cost 62 72.9
5 Possession 33 38.8
INTERPRETATION:
There are various factors that affects the buying behavior of the customers. The factors
vary person to person according to their needs and requirements. The basic factors are
highlighted in above bar chart. From the given analysis it is interpreted that maximum
numbers of respondent choose the property depending upon Location and Cost of the
project. Both have got 72.9% followed by developer of the project that is 63.5%. Carpet
area and Possession of the property are also the important aspects that attracts the
customers.
2 NO 18 21.2%
TOTAL 85 100%
INTERPRETATION:
Understanding the consumer requirement is one of the most important aspects. Various
developer conducts online surveys on social media pages and websites. This survey helps
the developer to make their plan according to consumers requirements. From the given
analysis it is interpreted that maximum numbers of respondent that is 78.8% have
participated in the survey and 21.2% haven’t. This survey also helps to generate new
leads and customer engagement on the website.
Table No.9. Shows participation of the respondent for property search.
2 NO 20 23.5%
TOTAL 85 100%
INTERPRETATION:
In recent times internet has changed the buying behavior and perspective of consumers.
Internet shopping has become new trend, the apps like No broker, magic bricks, olx,
property search, etc. are the emerging apps which shows various property. From the
given analysis it is interpreted that maximum numbers of respondent that is 76.5% have
scrolled over internet for property search.
Table No.10. Shows the frequency of Ads.
SR PLATFORMS NO OF NO OF RESPONDENTS
NO RESPONDENTS IN %
1 On Web Sites 39 45.9%
3 Emails 8 9.4%
Total 85 100%
INTERPRETATION:
Internet has provided solutions to many things but in the back end it also collects our
data, this data is used to show various ads about the products that we have searched over
internet. From the given analysis it is interpreted that 45.9% of the respondent get Ads
over websites, followed by social media 44.7% and 9.4% on emails.
Table No.11. Shows the information gap status of the respondents
2 No 24 28.2%
TOTAL 85 100%
INTERPRETATION:
Understanding the needs and providing the information is the main aim of consultant
agencies. From the given analysis it is interpreted that 54.1% of the respondent agrees
that the consultant agencies bridge the gap, 28.2% of the respondent do not agree about
this consultancy services. There are also 17.6% of the respondent are not sure about the
consultancy services.
Table No12. Shows the loan assistance status.
2 No 22 25.9%
Total 85 100%
INTERPRETATION:
From the given analysis it is interpreted that 74.1% of the respondent need home loan
assistance for their future investment in real estate. Various people take loan to save
taxes and also to manage their expenditure properly for their living. Now a days various
banks provide home loans to their client but choosing the right bank is important
because, various bank have different rate of interest. It is also seen that 25.9% of the
respondent are not interested in home loan assistance.
Table No.13. Shows the satisfaction level of the customers with the service provided by
propedge Realty.
SR SATISFACTION NO OF RESPONDENTS NO OF RESPONDENTS
NO LEVEL IN %
1 1 19 22.4%
2 2 16 18.8%
3 3 15 17.6%
4 4 25 29.4%
5 5 10 11.8%
TOTAL 85 100%
Fig No.13. Shows the satisfaction level of the customers with the service provided by
propedge Realty.
INTERPRETATION:
Customer satisfaction is the most important factor for each and every organization. From
the given analysis it is interpreted that out of 85 respondent 25 have rated 4 stars rating
for Propedge Realty, followed by 22.4% giving 1 star rating. From this we can interpret
that there are almost equal number of respondents which are satisfied as well as not
satisfied with the serives provided by the Propedge Realty.
OBSERVATIONS & FINDINGS:
1. During the time of survey, it has found that the most of the positive leads are
generated from References given by the old clients.
2. It has found that 78.8% (from fig no.8) of the respondent have participated in
online campaigns.so investing more in digital lead generation technology is
very important for the organization.
3. Creating a social media presence essential because 90.6% (from fig no.9) of the
respondent were getting the pop up advertainments on websites and social
media.
4. During the internship it was also observed that the their where also various fake
leads generated from broking applications such as No Broker, Magic Bricks, Olx,
etc.
5. It was also found that for generating Leads the organization has to invest their
money according to its target. Every lead has a specific cost and also varies
from time to time.
6. The leads generated from market where mostly old leads and the conversion
ratio was also very low.
7. It was also observed that if the client is not interested then also the client is called
several times.
SUGGESTIONS:
1. Company should update their database according to the remarks given after
cold calling. Calling the unwilling customer is waste of time and money.
2. Company should update its customer’s database once in a month.
3. Company should make more contact with contractors & Architects to tap more
about the project and target the customers according to its features.
4. As a consultant firm company should provide all the legal information regarding
project and loan documentation to the customers in details which assist the
company to be a loyal consultant firm in the mind of the customers.
5. The database generated through the project should be put to effective use through
continuous follow-ups to the potential customers. A follow-up should be made on
the industry potential as a whole as well.
6. Company should concentrate on CRM activities such as loyalty to create strong
good will and gain new customers.
Suggestions to customer:
1. Customer should not Hide or fake its budget from the Channel Partner.
2. Customers should check all the legal and technical documents and ask the details
of the builders/project, before buying any of the property.
KEY LEARNINGS & CONTRIBUTION TO THE HOST
ORGANIZATION
1. As a marketing aspirant I learnt that how real estate channel partner’s work.
Generating the leads was a very challenging task for me while working as a
Management trainee at Propedge Reality.
2. I learnt that making heathy relation with the customers is a need of a good
marketing person.
3. I learnt how to give a good pitch to the customers regarding real estate as a
management trainee. we also have to understand the pain points of the customers
and need to give solution for it rather than selling what we have.
4. While doing this internship I understand that doing marketing is not an easy task
as it looks because now a days customers are more talented hence as a marketer
we need to be updated.
In the time span of 2 months of Internship I have concluded that the Lead generation is a
key factor through which we get prospective customers. Lead generation is also a cost
for the company. Buying a house is a dream of every person that everyone wants to
fulfil. It involves multiple parameters to consider before purchasing a house. Each
consumer has their own preferences, tastes & needs, according to which they buy the
property. They took into consideration so many aspects like the brand of the developer,
price of the property, location of the property, future expectations of the property etc.
Developers alone can't satisfy all these customers need. Hence it must be needed such
regulatory body who act as mediator between consumer and project developers. This
study provides evidence and information as to what really influences the intention to
purchase property. The study can thus serve as a future reference on the study of real
estate.
BIBLIOGRAPH
Website:
References
senerity, a. (n.d.). Retrieved from https://www.punerealestate.com/index.htm:
https://punerealestate.com/banerpashanroad/3bhk-apartments.html
(Gradcoach, n.d.)
References
(PhD), D. J. (n.d.). Retrieved from Gradcoach: https://gradcoach.com/what-is-research-
methodology/
References
(n.d.). Retrieved from Gradcoach: https://gradcoach.com/what-is-research-methodology/
Maharashtra Real Estate Regulatory Authority, I. (n.d.). Maharashtra Real Estate Regulatory
Authority. Retrieved from Maharashtra Real Estate Regulatory Authority:
https://maharerait.mahaonline.gov.in/searchlist/search?CertficateNo=P52100001810
References
(n.d.). Retrieved from Gradcoach: https://gradcoach.com/what-is-research-methodology/
Maharashtra Real Estate Regulatory Authority, I. (n.d.). Maharashtra Real Estate Regulatory
Authority. Retrieved from Maharashtra Real Estate Regulatory Authority:
https://maharerait.mahaonline.gov.in/searchlist/search?CertficateNo=P52100001810
QUESTIONNAIRES:
1. Name*
Your answer
2. Gender*
1. Male
2. Female
4.Age *
1. Below 25 years
2. Between 26-40 years
3. Above 41 years
1. Self-employed
2. Employee
3. Worker
6. Which type of real estate are you searching for? *
1. Commercial
2. Residential
3. Plotting
4. Resale
1. Yes
2. No
1. Carpet Area
2. Developer of the project
3. Location
4. Cost
5. Possession of the property
10. Have you ever participated in any social media campaign conducted by the Channel
Partner (Broker). *
1. Yes
2. No
11. Have you scrolled over internet for property search? *
1. Yes
2. No
.Choose
13. Do you think real estate consultant agency bridges the information gap between
real estate developer and customers? *
Choose
1. Yes
2. No
15. How much satisfied are you with the service provided by Propedge Realty? *
Not satisfied
1
2
3
4
5
Highly satisfied