customer satisfaction real estate

SHIVAJI UNIVERSITY__________

A

PROJECT REPORT

ON

“A STUDY OF CUSTOMER SATISFACTION OF RESIDENTIAL

PROPERTIES ”

WITH SPECIAL REFERENCE TO

“KUMAR BUILDERS, PUNE”

SUBMITTED TO

SHIVAJI UNIVERSITY, KOLHAPUR

IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF

MASTER OF BUSINESS ADMINISTRATION (M.B.A.)

BY

MR. ANIS .S. SHAIKH

UNDER THE GUIDANCE OF

Prof. V. AJOTIKAR

THROUGH THE DIRECTOR

KOLHAPUR INSTITUTE OF TECHNOLOGY’s

INSTITUTE OF MANAGEMENT EDUCATION & RESEARCH

(KIT’s IMER)

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KOLHAPUR

2006-2008

Acknowledgement

Before we get into the thick of the things I would like to add

a few heartfelt words for the people who were the part of this

project in numerous ways....people who gave unending support

right from the stage the basic idea was conceived.

This dissertation from a part of my two year M.B.A

programme and is in partial fulfillment of the requirement of their

in reference.

I acknowledge with sense of reverence my gratitude towards

the management of Kumar Builders. For providing me an

opportunity to work as a summer trainee in their esteem

organization.

I want to give special the production manager and other staff

of the company who helped me to complete the project.

I also thank my Director Mrs. A.G.JAYAKUMARI. and

my project guide Prof. VAISHLI AJOTIKAR for guiding me

from time to time.

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______________________

ANIS .S. SHAIKH

DECLARATION

To,

The Director,

KIT’ IMER

Kolhapur

Respected sir,

I, ANIS .S. SHAIKH undersigned hereby declare that the

project report entitled:

“A STUDY OF CUSTOMER SATISFACTION OF

RESIDENTINAL PROPERTIES WITH REFERENCE TO

KUMAR BUILDERS, PUNE.”

Written and submitted by me under the guidance Prof. VAISHLI

AJOTIKAR of is my original work. The empirical findings in this

report are based on the data collected by myself. While preparing

the report I have not copied from any report.

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_______

______ ANIS .S. SHAIKH.

Certificate

This is to certify that ANIS .S. SHAIKH. An M.B.A student of

KIT’s IMER has undergone a summer internship in Kumar

Builders, under the title


RESIDENTINAL PROPERTIES WITH REFERNCE TO

KUMAR BUILDERS, PUNE”.

He has successfully completed his project in the partial fulfillment

for the award of Master of Business Administration. This report is

the record of the student’s own effort our able supervision and

guidance.

Prof. A.G.JAYAKUMARI Prof. V.

AJOTIKAR

(DIRECTOR KIT’s IMER) (PROJECT

GUIDE)

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CONTENTS

Sr.No. Topic Page. No.

1 Introduction To The Study 01-06

1.1 Background Of The Study 01

1.2 Objective Of The Study 03

1.3 Scope Of The Study 04

1.4 Limitations 05

1.5 Need & Significance Of The Study 06

2 Company Profile 07-19

2.1 Introduction To Company 07

2.2 Branches & Offices 12

2.3 Achievements & Awards 13

2.4 Products Range & Variety 14

2.5 Organisation Staff & Designation 16

2.6 List of Competitors 19

3 Theoretical Background 20-34

4 Research Methodology 34-36

5 Data Analysis and Interpretation 37-45

6 Findings 46-47

7 Conclusion 48

8 Recommendations 49

Annexure

Bibliography

50-54

55

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Annexure

Bibliography INTRODUCTION OF STUDY

Heightened realization on the part of all stakeholders that

infrastructure would play a key role towards pushing India’s GDP

to the desirable 8 percent mark has come as a boon for India’s

construction industry.

According to the Confederation of Indian Industry (CII),

increased investment in infrastructure has led to a surge in the

activities of the construction industry, and the industry is riding a

growth wave, which is evident from the financial results posted by

some of the leading contractors, showing 30 to 100 percent growth

rates in the first nine months of 2004-05.

However, the industry is faced with certain challenges.

According to a report by CII, the need to be price competitive,

adherence to safety, quality consciousness, adapting to

technological changes, developing and using new construction

materials and having an adequately trained manpower are issues

that industry must look into and address.

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There is a clear increase in fund allocations for the

Infrastructure sector in the tenth plan (2002-2007) by the Planning

Commission; most of which are to be spent in the construction

sector.

The CII report states that besides the direct impact of this

spending on the construction sector, this would also have a ripple

effect boosting demand in other core sectors, such as cement and

steel, (on spending in other sectors), thereby having a positive

impact on the Indian economy as a whole.

"The construction sector, therefore, has to gear up fully to

take on the ever-increasing challenge,"

The report also states that even though a major part of the

construction work is carried out through contractors, it remains a

neglected area.

"There is a need to standardize and develop a fair and

equitable contract document, which should provide adequate

incentives for completion of jobs on or before schedule and

disincentives for delays," the report states.

The CII report recommends that there is a need to revise the

works manual of engineering departments and the use of modern

techniques such as PERT, CPM, Value Engineering, Work-study

be incorporated in contracts. There is also a need to streamline the

system of prequalification.

The construction sector in India, accounting for five percent

of the GDP, is the second highest employer after agriculture, and

provides direct or indirect employment to about 32 million people.

The Indian project exporters have been able to secure large

value contracts abroad during the last three decades. The following

regions continue to be potential markets for Project Exports Sector:

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SAARC Region, Asia [South-East/West (Afghanistan), Africa,

Middle East/oil rich countries, Russia and CIS countries and Latin

American countries. (ANI)

OBJECTIVES:

To study the property purchasing behavior i.e.

(Residential) of different types of customer in different area.

To study the various factors affecting the customer-

buying pattern especially in case of Residential properties.

To find the expectations & needs of customers from

Kumar Builders Constructions.

To find the opinion of the customers with regard to

various schemes available or schemes offered by Kumar

Builder constructions.

To find out the near competitors for Kumar Builder

Constructions.

To find out the period in which the customers are more

willing to purchase Residential properties.

To search out new prospects for Kumar Builder

Construction.

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SCOPE

This study will be beneficial to Kumar Builder Constructions

to know about customers buying behavior towards Residential

properties in Pune city. The company can come to know various

factors affecting the customers’ properties buying behaviour.

Company comes to know about customers expectations &

need for future properties purchases. The sample size taken for this

project is 100 Respondents.

Hence, this market study will provide information to

Company, and Customers.

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Limitations

1) The survey was restricted to selected areas in Pune City

only.

2) The time duration of this survey was 50 days only.

3) Rainy season was main hurdle for this survey.

4) The response from the respondents was fair enough but not

up to the mark or good enough.

5) This project was only restricted to the residential properties

of KBC & not commercials & others.

6) The survey area were too far as the city is big enough which

caused many transportation problem.

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NEED & SIGNIFICANCE

The study conducted is Pune city reflects the market position

of Kumar Builders Residential Properties. It gives us the details of

various factors of buying behavior of customers. The study enables

the company to prepare marketing strategy and plan accordingly,

so as to capture a greater market share& the services provided by

the company. It foresight the future requirement of the market and

thus helps the manufacturer to face the future completion in a fully

prepared way.

Thus it helps the company to have a good brand image and

stepping toward success.

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2.1 Introduction to Company

"Kumar Group" established on 15th August, 1966 by the

Late Shri. K. H. Oswal, a first generation entrepreneur, with a

vision to enter into a core sector business, housing construction,

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which had an immense potential was the obvious choice at that

time.

In more than last 40 years, the Organization has grown from

strength to strength striving hard to transform that vision into

reality. Today the company's name has become synonymous with

the quality Construction business in Pune.

An ISO 9001 : 2000 & 14001:2004 Company DET

NORSKE VERITAS QUALITY SYSTEM CERTIFICATE (DNV)

has awarded an ISO 9001: 2000 Certificate for Quality

Management System Standards maintained by the company for

design, development, construction & marketing of Residential and

Commercial complexes.

Kumar Builders has become synonymous with quality

construction in Pune. The company is known for maintaining

international quality construction standards and also for its ethics,

transparency, reliability, professionalism and reflexivity.

The Kumar Builders Institution boasts of a concrete record

of more than 100 completed projects, over 100 Lakhs Sq.Ft.

completed construction and 13,000 satisfied customers. The 30

ongoing residential and commercial projects and successful

diversification into corporate ventures bear testimony to the

success story of Kumar Builders.

Quality Policy:

Kumar Builders are committed to design, develop, construct

and market Residential, Commercial complexes and all such types

of shelters, which shall meet customer need consistently. We shall

further strive to enhance the interest of our partners, employees,

suppliers & society.

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Quality Objectives:

1. Demonstrate commitment and compliance to the Quality

Management System.

2. Improve the competence of employees by continuous

training in the areas in which they work.

3. To be a market leader by enhancing the customer

satisfaction.

4. To create a customer focused organization.

Aims:

"Quality is primary" to Kumar Builders. All

systems and procedures are formulated to achieve the "Quality

Objective". Total quality principles are adopted in selection of the

material, implementation of the project, and even after the project

is handed over. The Group is in the process of implementing 'Total

Quality Management' in all the aspects of its business.

Values:

Honor and respect those who are experts in their fields, those

who are wise, knowledgeable and insightful. Project the

eminent & nurture the learned.

Be humble and grateful for any gesture, however small

With plentiful resources, guard against mismanagement and

waste.

Do not use the force but work through. Conciliation,

appreciation and inspiration.

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Maintain your position through growth and expansion,

which requires effort.

Practice five strategies of action: Alliance, Patience,

Optimum Utilization of Resources, Nurturing of human

assets and Aggressiveness.

Plan for the acquisition of wealth with the eyes of crane,

employ a variety of postures like peacock, strike with the

ferocity of a boar and display the velour of a lion.

Offer your gratitude to God.

Human Resources:

Kumar Builders is professionally managed and a significant

force in an intensely competitive market. This is because we treat

our employees with respect and dignity. We believe the growth of

the Group is dependant on the growth of our people. They find an

independence to chart their own course, an openness to new ideas,

efficiency in implementation and an enormous professional

satisfaction. We have men of mission who can face challenging

opportunities with finesse and purpose. The open door policy and

informal and vibrant atmosphere is an achievement in itself.

Technology:

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In the context of technological advances, the Kumar

Builders is in the forefront in implementing State-Of-The-Art

Technology with the latest systems / Networking techniques. These

assists management to access information and establish proper

checks and controls over the business transactions. Continuous

technological up gradation helps the Group keep up with time.

Social obligation:

The group believes in repaying its debt to society and does

so in many different ways. After realizing the grave need for

shelter it has initiated the task of development of slums. Various

projects for beautification, Water Fountains, Schools, and

Developments of Gardens, large roadside plantations, drinking

water and public toilets facilities have been taken up. On a more

macro level, the group has contributed its mite towards promoting

sports development, besides lending a helping hand to many

charitable institutions.

Slum development

Drinking Water program

Helping in building better public toilet facility

Environment cleanliness and beautification

Creating gardens

Sports

Schools and Hospitals

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Tree Plantations.

After Sales:

Kumar Builders strive hard and are committed to provide all

such type of services related to pre & post booking activities in

order to enhance customer satisfaction.

We assist all the esteemed customers to avail loan, help them

in all type of correspondences required an ensure them to handover

timely possession.

It is our endeavor to sort out all the complaints / queries

before and after sales to achieve maximum customer satisfaction.

Financial Assistance:

ICICI Bank

Standard Charted Bank

2.2 Branches & Offices:

Pune Head Office:

Kumar Capital, 2nd Floor,

2413,East Street, Camp,

Pune, India - 411 001.

Tel. : +91 (020) 40006000 /1/2/3, 26350065.

Fax : +91 (020) 26330584.

E-mail : [email protected]

Mumbai Branch Office:

Office No. 7, 1st Floor,

Ali Chambers, Nagindas Master Road

Fort, Mumbai - 400 023

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Tel. : +91 (022) 66378480, 66378481.

Fax : +91 (022) 66378482.

E-mail : [email protected]

Bangalaru Branch Office:

10/12, Palace Road,

13th Main, Vasant Nagar

Bangalaru - 560 052

Tel. : +91 (080) 2235 6822.

Telefax : +91 (080) 2235 6855. E-mail :

[email protected]

2.3 Achievements & Awards

Kumar builders receives srishti green cube award from

commerce minister Kamal Nath in Delhi.The Srishti Green

Cube Awards was instituted for “Good Green Governance

(G3)”.

Kumar Builders were the first Construction Company in

India to obtain an ISO 14001:2004 Environment

Certification.

Kumar Builders bagged the award on the basis of the social

activities and their concern for preservation of the

environment, which is seen through the implementation of

extensive programmes in the following major areas, namely:

Solid Waste Management

Rainwater Harvesting

Solar Energy

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mailto:[email protected]


Reduction of Dust, Noise And Water Pollution

And

Expanding the Green Belt.

2.4 Products Range & Variety

Residential Projects

Commercial Projects

Multiplex / Retail Projects

IT / BTS Projects

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Investment Opportunities

Future Projects

Completed Projects

Kumars Residential Projects

Kumar Meadows Kumar Kruti Buena Vista

Windsor Park Kumar Puram Sophronia

Kumar City Laxmi Vilas Hillscape

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The Orion

Residency

Kumar Surkasha Kumar Dhruv

Kumar Sahawas Kubera Sankul Kumar

Shantiniketan

Kubera Vihar Kumar Sansar i-Life

2.5 Organisation Staff & Designation:

No. Name Designation Department

Lalitkumar Jain Chairman & MD

Kruti JainExecutive

Director

1 Sameer Palshikar Media Manager Advertising

2 Yogesh Bhave H.O.D. -

Accounts

Accounts &

Finance

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& Finance

3 Girish Mande H.O.D. BankingBanking &

Payments

4 B.R. GulatiH.O.D. –

AdministrationAdministration

5 Reena Manjrekar H.O.D. - C.R.O. C.R.O.

6 Surender KhunekariSr. Executive -

EDPE.D.P.

7 Sheetal JoshiCompany

SecretoryC.S.

8 K.B. ShivankhedeChief Technical

Coordinator

Construction /

Technical

9 S. Premnath GM - TechnicalConstruction /

Technical

10 Anil NemavarkarProject Co-

ordinator

Construction /

Technical

11 Ritesh Oswal

H.O.D. –

Corporate

Marketing

Corporate

Sales & Mkt.

12 Vinay NimbalkarH.O.D.

ElectricalElectrical

13 D.V. GodboleH.O.D. -

Horticulture

Horticulture /

Landscape

14 Chandrahas BollabattinSr. Executive -

HRH.R.

15 RAHUL BOKILManagement

RepresentativeI.S.O.

16 Viresh Parekh Coordinator Land / Legal

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17 B.H. Tingre H.O.D. - Legal Legal

18 Neelima Gohad H.O.D. - Legal Legal

19 Brig. Ramesh HasijaH.O.D. -

MaintenanceMaintenance

20 Vijay OswalG.M. -

OperationsOperations

21 Anil Suratwala

G.M. –

Township

Developments

Project

Planning &

Township

Developments

22 D.S. ThoratH.O.D. –

Public Relations

Public

Relations

23 Rupam SinghSr. Manager –

Public Relations

Public

Relations

24 Abhay DeshpandeH.O.D. -

PurchasePurchase

25 Niranjan Bhatkulkar

H.O.D. –

Quantity

Analysis

Quantity

Analysis

26 Ravindra D. Patil

H.O.D. –

Quality

Assurance

Qyality

Assurance

27 Rajendra Bhagat Sales Manager Sales & Mkt.

28 Anil Deshpande Security Incharge Security

29 Mohan Tak C.E.O. - CLUB Symphony /

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Conniseur

Club

30 Rajashree Swami

System &

Procedure

Manager

Systems &

Procedure

2.6 List of Competitors:

Mantri Builders

Fergusson College Road

(Mantri House) Shop # 929,

Deccan Gymkhana,

Pune 411004Phone: (20)

25661040

Bramha Builders

205/251, M.G. Road

Parvati,

Pune 411009

Phone: (20) 26330052

Panchshil Real Estate

Consultant

Bund Garden Road

(Konar Estate)

Rohan Builders (I) Private

Limited

813, Bhandarkar Road

(Pradeep Chambers)

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Pune H.O.,


26127366

Deccan Gymkhana,


25674413

Paranjape Schemes

Constructions

Anand Colony, Erandwane

(PSC House)

Deccan Gymkhana,


30223344

Nyati Builders Private

Limited

Kalyani Nagar

(Nyati Commerce House)

Yerwada,


26686123

D.S. Kulkarni Developers

Limited

1187/60, Jangali Maharaj Road

(DSK House)

Shivajinagar H.O.,


56047100

K Raheja Private Ltd.,

Survey No. 144 & 145,

Samrat Ashok Path, Off. Airport

Road,

Yerwada, Pune – 411 006

Tel: +91 020 26112859

3.1 Buying Behaviors

Definition of Buying Behaviour:

Buying Behavior is the decision processes and acts of people

involved in buying and using products.

The dynamic interaction of affect and cognition, behaviour,

and the environment by which human beings conduct the exchange

aspects of their lives

Meaning of Consumer Behaviour:

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Consumer behaviour can be looked upon as a study of how

individuals make decisions on how to spend their available

resources like time, money and effort on various consumption-

related items.

Human beings are greatly influenced in their buying actions

by various factors like opinions of others, marketing stimuli like

product, advertising, packaging and product appearance

Scope of Consumer Buying Behaviour

Why do consumers buy a particular product/service

brand?

How do they buy them?

Where do they buy these products?

How often do they buy them?

When do they buy them?

What factors influence the decision making process of the

consumers?

The buying process involves the user, influencer, decider,

and the buyer

The process is greatly affected by selective information

received by a consumer

It is very important to understand what and how much

information is required by the consumer to help him

evaluate the products and services

As such understanding why a consumer finally buys a

product is very complex

Importance Of Consumer Behaviour

Ever increasing intensity of competition

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More aggressive competitors emerging with greater

frequency

Changing bases of competition

Geographic sources of competition are becoming

wider

Niche attacks are becoming frequent

Pace of innovation is rapid

Price competition becoming more aggressive

Product differentiation is declining

Why Focus On Consumer Behaviour

Profit making through customer

satisfaction

Dramatic increase in the quality of

consumer and marketing research

Development of consumer behaviour

research

Shifting from the mass marketing concept

to individual marketing concept.

Characteristics Of Consumer

Behaviour

Consumer behaviour is dynamic:

The feelings, thinking, perceptions,

and actions of the consumers and the society at large keep

changing frequently.

Strategies that work today may not

work tomorrow.

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The product life cycles are

becoming shorter.

Benefits of Consumer

Behaviour

Stay loyal for a long time

Buy new products and upgrade

existing ones

Talk favourably about the firm and

its products

Pay less attention to competing

brands

Offer product/service ideas to the

firm

Are cost effective

Approaches To Consumer

Behaviour

Managerial:

Micro and cognitive in nature

Emphasizes on attitudes, perceptions, lifestyle and

demographic characteristics

Environmental effects-reference groups, family and

culture

Risk of this approach is overemphasis on rationality of a

consumer and overlooks

the dynamics of environmental factors independent of the

individual

Tends to focus more on purchase than on consumption

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Holistic:

More macro in approach

Tends to focus more on consumption experience than on

purchasing process

Stresses the broader, culturally derived context of

consumption

Emphasizes on environmental context of the consumer’s

actions

This approach may not be actionable and all decisions are

not rational.

Need To Understand Consumer Buying Behaviour:

Why consumers make the purchases that they

make?

What factors influence consumer purchases?

The changing factors in our society.

Consumer Buying Behavior refers to the buying

behavior of the ultimate consumer. A firm needs to

analyze buying behavior for:

Buyers reactions to a firms marketing

strategy has a great impact on the firms success.

The marketing concept stresses that a

firm should create a Marketing Mix (MM) that

satisfies (gives utility to) customers, therefore need

to analyze the what, where, when and how

consumers buy.

Marketers can better predict how

consumers will respond to marketing strategies.

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Stages of Consumer Buying

Process:

Six Stages to the Consumer Buying Decision Process (For

complex decisions). Actual purchasing is only one stage of the

process. Not all decision processes lead to a purchase. All

consumer decisions do not always include all 6 stages, determined

by the degree of complexity.

The 6 stages are:

1. Problem Recognition(awareness of need)--difference

between the desired state and the actual condition. Deficit in

assortment of products. Hunger--Food. Hunger stimulates

your need to eat.

Can be stimulated by the marketer through product

information--did not know you were deficient? I.E., see a

commercial for a new pair of shoes, stimulates your

recognition that you need a new pair of shoes.

2. Information search--

Internal search, memory.

External search if you need more

information. Friends and relatives (word of mouth).

Marketer dominated sources; comparison

shopping; public sources etc.

A successful information search leaves a buyer with possible

alternatives, the evoked set. Hungry, want to go out and eat,

evoked set is

Chinese food

Indian food

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Burger king

Klondike Kates etc

3. Evaluation of Alternatives--need to establish criteria for

evaluation, features the buyer wants or does not want.

Rank/weight alternatives or resume search. May decide that

you want to eat something spicy, Indian gets highest rank

etc.

If not satisfied with your choice then returns to the search

phase. Can you think of another restaurant? Look in the

yellow pages etc. Information from different sources may be

treated differently. Marketers try to influence by "framing"

alternatives.

4. Purchase decision--Choose buying alternative, includes

product, package, store, method of purchase etc.

5. Purchase--May differ from decision, time lapse between 4

& 5, product availability.

6. Post-Purchase Evaluation--outcome: Satisfaction or

Dissatisfaction. Cognitive Dissonance, have you made the

right decision. This can be reduced by warranties, after sales

communication etc.

After eating an Indian meal, may think that really you

wanted a Chinese meal instead.

Types Of Consumer Buying Behaviour:

Types of consumer buying behavior are determined by:

Level of Involvement in purchase decision. Importance

and intensity of interest in a product in a particular

situation.

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Buyer’s level of involvement determines why he/she is

motivated to seek information about a certain products

and brands but virtually ignores others.

High involvement purchases--Honda Motorbike, high priced

goods, products visible to others, and the higher the risk the higher

the involvement. Types of risk:

Personal risk

Social risk

Economic risk

The four type of consumer buying behavior are:

Routine Response/Programmed Behavior--buying

low involvement frequently purchased low cost items;

need very little search and decision effort; purchased

almost automatically. Examples include soft drinks,

snack foods, milk etc.

Limited Decision Making--buying product

occasionally. When you need to obtain information about

unfamiliar brand in a familiar product category, perhaps.

Requires a moderate amount of time for information

gathering. Examples include Clothes--know product class

but not the brand.

Extensive Decision Making/Complex high

involvement, unfamiliar, expensive and/or infrequently

bought products. High degree of

economic/performance/psychological risk. Examples

include cars, homes, computers, education. Spend a lot of

time seeking information and deciding.

Information from the companies MM; friends and

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relatives, store personnel etc. Go through all six stages of

the buying process.

Impulse buying, no conscious planning.

The purchase of the same product does not always elicit the same

Buying Behavior. Product can shift from one category to the next.

For example:

Going out for dinner for one person may be extensive decision

making (for someone that does not go out often at all), but limited

decision making for someone else. The reason for the dinner,

whether it is an anniversary celebration, or a meal with a couple of

friends will also determine the extent of the decision making.

Categories That Effect The Consumer Buying Decision

Process

A consumer, making a purchase decision will be affected by

the following three factors:

1. Personal

2. Psychological

3. Social

The marketer must be aware of these factors in order to develop an

appropriate MM for its target market.

1. Personal

Unique to a particular person. Demographic Factors. Sex,

Race, Age etc.

Who in the family is responsible for the decision making. Young

people purchase things for different reasons than older people.

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2. Psychological factors

Psychological factors include:

Motives--

A motive is an internal energizing force that orients a

person's activities toward satisfying a need or achieving a

goal.

Actions are effected by a set of motives, not just one. If

marketers can identify motives then they can better develop

a marketing mix.

MASLOW hierarchy of needs!!

o Physiological

o Safety

o Love and Belonging

o Esteem

o Self Actualization

Need to determine what level of the hierarchy the consumers

are at to determine what motivates their purchases.

Perception--

What do you see? Perception is the process of

selecting, organizing and interpreting information inputs to

produce meaning. IE we chose what info we pay attention to,

organize it and interpret it.

Information inputs are the sensations received through sight,

taste, hearing, smell and touch.

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Selective Exposure-select inputs to be exposed to our

awareness. More likely if it is linked to an event, satisfies

current needs, intensity of input changes.

Selective Distortion-Changing/twisting current received

information, inconsistent with beliefs.

Advertisers that use comparative advertisements, have to be

very careful that consumers do not distort the facts and

perceive that the advertisement was for the competitor.

Selective Retention-Remember inputs that support beliefs,

forgets those that don't.

Ability and Knowledge--

Need to understand individual’s capacity to learn.

Learning, changes in a person's behavior caused by

information and experience. Therefore to change consumers'

behavior about your product, need to give them new

information re: product...free sample etc.

Knowledge is the familiarity with the product and expertise.

Inexperience buyers often use prices as an indicator of

quality more than those who have knowledge of a product.

Learning is the process through which a relatively

permanent change in behavior results from the consequences

of past behavior.

Attitudes--

Knowledge and positive and negative feelings about

an object or activity-maybe tangible or intangible, living or

non- living.....Drive perceptions Individual learns attitudes

through experience and interaction with other people.

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Consumer attitudes toward a firm and its products

greatly influence the success or failure of the firm's

marketing strategy.

Attitudes and attitude change are influenced by

consumers personality and lifestyle.

Consumers screen information that conflicts with their

attitudes. Distort information to make it consistent and

selectively retain information that reinforces our attitudes. IE

brand loyalty.

There is a difference between attitude and intention to

buy (ability to buy).

Personality--

All the internal traits and behaviors that make a person

unique, uniqueness arrives from a person's heredity and

personal experience. Examples include:

Work holism

Compulsiveness

Self confidence

Friendliness

Adaptability

Ambitiousness

Dogmatism

Authoritarianism

Introversion

Extroversion

Aggressiveness

Competitiveness.

Traits effect the way people behave. Marketers try to match

the store image to the perceived image of their customers.

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There is a weak association between personality and Buying

Behavior; this may be due to unreliable measures.

Lifestyles--

Recent US trends in lifestyles are a shift towards

personal independence and individualism and a preference

for a healthy, natural lifestyle. Lifestyles are the consistent

patterns people follow in their lives.

3. Social Factors

Consumer wants, learning, motives etc. are influenced by

opinion leaders, person's family, reference groups, social class

and culture.

Opinion leaders--

Spokespeople etc. Marketers try to attract opinion

leaders...they actually use (p y) spokespeople to market their

products. Michael Jordon (Nike, McDonalds, Gatorade etc.)

Can be risky...Michael Jackson...OJ Simpson...Chevy Chase

Roles and Family Influences--

Role...things you should do based on the expectations of you

from your position within a group.

People have many roles. Husband, father, employee.

Individuals role are continuing to change therefore marketers

must continue to update information.

Family is the most basic group a person belongs to.

Marketers must understand:

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that many family decisions are made by the family

unit

consumer behavior starts in the family unit

family roles and preferences are the model for

children's future family (can reject/alter/etc)

family buying decisions are a mixture of family

interactions and individual decision making

Family acts an interpreter of social and cultural values

for the individual.

The Family life cycle: families go through stages; each stage

creates different consumer demands:

Bachelor stage.

newly married, young, no children...me

full nest I, youngest child under 6

full nest II, youngest child 6 or over

full nest III, older married couples with dependant

children

empty nest I, older married couples with no children

living with them, head in labor force

empty nest II, older married couples, no children

living at home, head retired

solitary survivor, in labor force

solitary survivor, retired

Modernized life cycle includes divorced and no

children.

Reference Groups--

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Individual identifies with the group to the extent that

he takes on many of the values, attitudes or behaviors of the

group members.

Families, friends, sororities, civic and professional

organizations. Any group that has a positive or negative

influence on a persons attitude and behavior.

Membership groups (belong to)

Affinity marketing is focused on the desires of consumers

that belong to reference groups. Marketers get the groups to

approve the product and communicate that approval to its

members. Credit Cards etc.

Aspiration groups (want to belong to)

Disassociate groups (do not want to belong to)

Social Class—

An open group of individuals who have similar social

rank. US is not a classless society. US criteria; occupation,

education, income, wealth, race, ethnic groups and

possessions.

Social class influences many aspects of our lives. IE upper

middle class Americans prefer luxury cars Mercedes.

Upper Americans-upper-upper class, .3%, inherited

wealth, aristocratic names.

Lower-upper class, 1.2%, newer social elite, from

current professionals and corporate elite

Upper-middle class, 12.5%, college graduates,

managers and professionals

Middle Americans-middle class, 32%, average pay

white collar workers and blue collar friends

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Working class, 38%, average pay blue collar workers

Lower Americans-lower class, 9%, working, not on

welfare

Lower-lower class, 7%, on welfare

Social class determines to some extent, the types, quality, quantity

of products that a person buys or uses. Lower class people tend to

stay close to home when shopping, do not engage in much

prepurchase information gathering. Stores project definite class

images. Family, reference groups and social classes are all social

influences on consumer behavior. All operate within a larger

culture.

Culture and Sub-culture--

Culture refers to the set of values, ideas, and attitudes

that are accepted by a homogenous group of people and

transmitted to the next generation.

Culture also determines what is acceptable with product

advertising. Culture determines what people wear, eat, reside

and travel. Cultural values in the US are good health,

education, individualism and freedom. In american culture

time scarcity is a growing problem. IE change in meals. Big

impact on international marketing.

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Research Methodology

Research Design:-

Research design is the guideline, which help the researcher

to get the required information from the respondents within the

specific time limit,

Type of Research:-

The type of research was descriptive

Nature of Research:-

The nature of research was quantitative.

Type of questions:-

Standard and limited Probing

Type of analysis:-

Statistical

Sources of Data:-

There are two types of Data:-

1) Primary data:-

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Primary data was collected with help of Questionnaire,

which was specifically framed.

2) Secondary data:-

Company Manual, Yearly Magazines.

Research technique :-

Survey method technique was used

Contact method

Interviews with the respondents

Sampling plan:

a) Sample size : - The over all sample size was one hundred

b) Sample element : - Potential Buyers of residential

property.

c) Sample extent : - Pune city

d) Sample Duration : - 1st June 2007 to 31st July 2007

e) Sampling Procedure:- Random Sampling.

Research Instrument:-

The research instrument used was Questionnaire (close-ended and

open-ended).

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Data Analysis

1) Table showing present type of Residential Ownership.

Type No. of

Respondents

% of

Respondents

Ownership 36 36%

On Rental 49 49%

Others 15 15%

Total 100 100%

Residential Ownership

36%

49%

15%

Ownership

On Rental

Others

The above table shows that, maximum no. of respondents stay on

rental basis i.e.49%, and 36% of the respondents have their own

residence and 15% of respondents are in others category, which

include residence on lease or staying at relatives.

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2) Table showing areas preferred to purchase residential

properties.

Area No. of Respondents % of Respondents

Peth Area 11 11%

Kalyani Nagar 19 !9 %

Hadapsar 23 23%

Kondwa 26 26%

Katraj 07 07%

Baner 05 05%

Pashan 09 09%

Total 100 100%

Preffered area for Property Purchase

11%

19%

23%26%

7%5% 9% Peth Area

Kalyani Nagar

Hadapsar

Kondwa

Katraj

Baner

Pashan

The above table shows that maximum no. of respondents i..e.26%

prefer Kondwa area, whereas 23% of the respondents prefer

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Hadapsar area, while 19% of respondents prefer Kalyani Nagar

area, whereas 09% of respondents prefer Pashan area while 07%

of respondents prefer Katraj area and 05% of respondents prefer

Baner area for purchasing residential properties.

3) Table Showing Factors taken into consideration while

purchasing Residential properties.

Factors No. of

Respondents

% of

Respondents

Location 28 28%

Price 39 39%

Transportation

Facility

16 16%

Accessibility to

Market

07 07%

Others 10 10%

Total 100 100%

Factors while Purchasing Resendential Properties

28%

39%

16%

7%10%

Location Price

Transportation Facility Accessibility to Market

Others

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The above table shows that maximum no. of respondents i.e. 39%

consider Price, whereas 28% consider location while 16% consider

transportation facility whereas 10% consider other factors like

Vastushastra, Water availability etc. and 07% of respondents

consider accessibility to the market as important factors for

purchasing the residential properties.

4) Table showing Parameters considers while selecting

residential properties.

Parameters No. of Respondents

Brand Name 53

Quality 62

Space (Sq. ft.) 49

Facilities 73

Interior 30

Schemes 57

Parameters considers while selecting residential properties

5362

49

73

30

57

01020304050607080

Brand

Nam

e

Qua

lity

Space

(Sq.

ft.)

Facilit

ies

Inte

rior

Schem

es

Parameters

No

. o

f R

esp

on

den

ts

Brand NameQualitySpace (Sq. ft.) FacilitiesInteriorSchemes

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The above table shows that maximum no. of respondents i.e. 73

consider Facilities as the parameter while 62 respondents consider

Quality, whereas 57 of respondents consider Schemes whereas 53

respondents consider Brand name while 49 respondents consider

Space (Sq. ft.) and 30 respondents consider Interiors as the

parameters while selecting residential properties.

5) Table showing sources of Information for respondents while

Property Purchasing.

Sources No. of Respondents % of Respondents

Hoardings 13 13%

Newspapers 17 17%

Agents/Consultants 33 33%

Relatives/Friends 28 28%

Others 09 09%

Total 100 100%

Various Sources of Information for Property Purchasing

13%

17%

33%

9%28%

Hoardings

Newspapers

Agents/ConsultantsRelatives/Friends

Others

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Above table shows that 33% of the respondents get their

information from Agents /Consultants, where as 28% of the

respondents get information from Relatives/ Friends while 17% of

respondents get information from Newspapers whereas 13% of

respondents get information from Hoardings and 09% of

respondents get their information through Other Sources like Local

News Channel,Radio,Internet etc. for Purchasing Residential

Properties.

6) Table showing awareness in respondents about various

schemes offered by KBC.

Awareness No. of Respondents % of Respondents

Yes 67 67%

No 33 33%

Total 100 100%

Awareness of Respondents to Various Schemes

67%

33%

Yes

No

The above table shows that maximum no. of respondents i.e. 67%

were aware about the various schemes offered by KBC whereas

33% of respondents were not aware about various schemes offered

by KBC.

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KBC is having good brand name in the city, most of people prefer

it.

7) Table showing duration of the year when normally

respondents like to purchases residential properties.

Month No. of Respondents % of Respondents

Jan to Apr 35 35%

May to Aug 13 13%

Sept to Dec 52 52%

Total 100 100%

Duration of Purchasing Resendential Properties

13%

35%

52%

Jan to Apr

May to Aug

Sept to Dec

Above table shows that maximum no. of respondents i.e. 52%

would prefer Sept to Dec as the duration where as 35% respondents

KIT’s IMER___________________- 50 -


would prefer Jan to Apr while 13% of respondents prefer May to

Aug as the duration of the year where they would like to purchase

residential properties.

8) Table showing type of Residential property respondents

would like to Purchase.

Type No. of Respondents % of Respondents

1 BHK Flat 18 18%

2 BHK Flat 48 48%

3 BHK Flat 24 24%

4 BHK Flat 06 06%

Bungalow/Row house 04 04%

Total 100 100 %

Type of Resedential Property

18%

48%

4% 6%24%

1 BHK Flat

2 BHK Flat

3 BHK Flat

Bungalow/RowhouseOthers

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Above table shows that maximum no. of respondents that is 48%

would like to purchase 2 BHK Flat, whereas 24% respondents

prefer 3 BHK Flat, while 18% respondents prefer 1BHK Flat

whereas 4% of respondents prefer Bungalow/Row house and 06%

respondents prefer others which include Duplex, Terrace Flat,

Attached Flat etc. for purchases of residential property.

9) Table showing mode of purchases of residential

property preferred by respondents.

Mode No. of Respondents % of Respondents

Home Loans 57 57%

Lum-sum 06 06%

Installments 33 33%

Others 04 04%

Total 100 100%

Mode of Purchase

6%

33%

4%

57%

Home Loans

Lum-sum

Installments

Others

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Above table shows that maximum no. of respondents i.e.57%

would prefer Home Loans whereas 33% of respondents would

prefer Installments while 06% of respondents would prefer Lum-

sum and 04% of respondents prefer Others.

Findings

1) During the time of survey, was found that 49%

respondents are having the resident on rental, 36%

respondents are having own property & 15%

respondents are having other sources such as lease,

relatives & friends etc.

2) It was found that maximum no. of respondents were

preferred to purchase residential property in

Kondwa area,i.e 26 % and only 5% respondents

were preferred in Baner area.

3) It was found that the price & location is major factor

which consider by the customer. Here 39%

respondents are considering the price, 28%

respondents are consider location & 16% & 7%

respondents are consider transportation & market

facility.

KIT’s IMER___________________- 53 -


4) It was found that the ‘quality’ & ‘facilities’ are most

considerable parameters at the time of selecting

residential property

5) It was found that the source of information of

consumers the real estate consultant play very vital

role.

6) It was found 67% respondents were aware of various

schemes offered by KBC & 33% respondents were

not aware. .

7) In the duration of September to December the most

of the respondents were like to purchase the

residential property because of the most of the

festival are in this duration.

8) It was found that demand of the 2 & 3 BHK flats

were more to comparing other types

9) In the mode payments 57% respondents go through

home loans of various banks & private financial

institutes, 33% respondents go through installments,

6% respondents through lum sum amount & 4%

respondents choose other mode of payments.

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10) It was found that the close competition of KBC were

Vascon, Bramha Builders & Nyati Builders which

were mostly known by the respondents.

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Conclusion

1) It can be seen that Kumar Builders is most popular brand.

2) Quality is considering lot while purchasing residential property.

3) The Kumar Builders stands first among three top companies in

Pune city.

4) The Buyers consider Quality and price while purchasing the

residential property.

5) The customer may change the Brand if the Particular brand is

not available and also because of close substitute.

6) Price hike is also one of the reasons for change in brand.

7) Adverting and other sales promotion tools have a great effect on

sales of the residential property.

KIT’s IMER___________________- 56 -


Suggestions

1) KBC should try to tap other market potentials, such as Nasik,

Kolhapur, Surat Ahmedabad and 2nd tire cities.

2) KBC should try to decrease Five star amenities with a view to

cut down the property prices and there by attracting the middle

class.

3) KBC should organize annual customer meet to appreciate those

customer who have been with them and awarded them.

4) KBC should take mass media such as television more precisely

cable media to target local customers.

5) KBC should also concentrate more on interior decoration to

compete with other competitors.

6) KBC should reduce the maintenance charges.

7) KBC should also concentrate on CRM activities, such as

loyalty to create strong good will and gain new customer.

KIT’s IMER___________________- 57 -


Questionnaire


RESIDENTIAL PROPERTIES WITH REFRENCE TO

KUMAR BUILBERS, PUNE”

Personal Details

NAME:-

OCCUPATION :-

GENDER:-

FAMILY SIZE :-

CONTACT :

E MAIL:-

NO. OF EARNING MEMBERS:-

1. Do you have any plan to purchase residential property in Pune?

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Yes

2. What is your present type of property?

Ownership On rental

Others

3. In which area would you prefer to purchase residential

properties?

Peth area Hadapsar

Pashan Baner

Kalyani nagar Katraj

kondwa

4. Which factor do you take in to consideration while purchasing

residential properties? (Choose any one)

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Location Price

Transportation facility Accessibility to market

Others

___________________________________________

5. Which parameters do you take in to consideration while

selecting a residential property? (Allow to multiple choice)

Brand Name Quality

Space (sq. ft) facilities

Interiors Schemes

6. Which other construction company / industry are you aware of

other than KBC? (Open ended)

____________________________________________

____________________________________________

7. Plz. Indicate the source of information that you consider for

property purchasing ? (choose any one)

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Hoarding Newspapers

Agent Relatives

Others

8. A) Are you aware of various schemes offered by KBC?

Yes No

B) If yes, what is your opinion about the scheme ?

Very Good Good Average

9. During which duration of the year normally would you like to

purchase residential properties?

Jan. to Apr. May to Aug. Sep. to Dec.

______________________________________________________

__

10. What type of residential property you would like to

purchases?

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1BHK Flat 2BHK Flat

3BHK Flat Bungalows/Row

House

Others

11. What will be your mode of purchase of residential

property?

Home Loans Lum sum

Installments Others

__________

Signature

Bibliography

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Books referred

Title : - Marketing Management

Name of the Author : - Philip Kotler

Title : - Marketing Research

Name of the Author : - Thomas C Kinnear

Title : - Consumer Buying Behavior

Name of the Author : - J. Paul Peter

Title : - Research Methodology

Name of the Author : - Dr. S. Shajahan

Other sources:-

1) News Paper

2) Magazines

3) Internet websites

Webliography Referred

a) www.google.com

b) www.marketingprofessors.com

c) www.indiatimes.com

d) www.kumarbuilders.com

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http://www.kumarbuilders.com/

http://www.indiatimes.com/

http://www.marketingprofessors.com/

http://www.google.com/


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customer satisfaction real estate

Documents

older married

purchasing

selecting

kumar builder

limited decision

purchase residential

consumer buying

consumer buying