Escolar Documentos
Profissional Documentos
Cultura Documentos
On
A study of Consumer Behavior towards Real
Estate Industry in Lucknow City
Submitted To:
Ms. Maya Basant Lohani
Submitted by
Mohammad Nadeem Khan
IVth Semester
Roll No- 1160672083
Session 2017-2018
1
.
DECLARATION
This is to declare that I Mohammad Nadeem khan (1160672083) student of MBA, have
personally worked on the project entitled “A study of consumer behaviour in real estate
Industry in Lucknow city” The data mentioned in this report were obtained during genuine
work done and collected by me. The data obtained from other sources have been duly
acknowledged. The result embodied in this project has not been submitted to any other
2
ACKNOWLEDGMENT
A project is never the sole product of a person whose name has appeared on the cover. Even
the best effort may not prove successful without proper guidance. For a best project one
needs proper time, energy, efforts, patience, and knowledge and how to use all these things.
But without any guidance it remains unsuccessful. I have done this project with the best of
my ability and hope that it will serve its purpose. It was really a great learning experience and
I would really express my special and profound gratitude to my guide Ms. Maya Basant
Lohani who not only helped me in the successful completion of this report but also spread
her precious and valuable time in expanding my knowledge base, I take immense pleasure in
thanking her for supporting at all stages of this project. After the completion of this Project I
feel myself as a well aware person about the Research Procedure and the complexities that
can arose during the process. Also I got an insight of Real estate. Finally, I am also grateful to
all those personalities who have helped me directly or indirectly in bringing up this project
report.
I would also like to thank Mr. Sushil Pandey Head of Department for his regular support
3
PREFACE
I respect to the allotted period, I have formed relationship with the organization as trainee
but informally it is a sacred place for me as it’s my first practical exposure to an organization
Although I am student of M.B.A Lucknow. It is a two year full time degree courses.
So far this training is scheduled for third semester syllabi as a separate topic to be asked in
detail in viva-voice conducted by external So far I have completed 3nd semester examination.
Thus study will provided me a better opportunity to survive in cut throat competition with a
prosperous existence. I have tried my best to gain out of well framed circumstances & with
the help of experienced personnel who helped me out so for become possible to them. As
being a very confidential functioning many things are there which can’t be known but on the
basis of gathered information and certain hints, the project has been formed. It may have
something missing but I have tried to present all things what I have received. Although this
report has been got checked by different personnel but after that if there is some
Certain observations & suggestions also have been stated which if possible to be reviewed.
4
EXECUTIVE SUMMARY
While working in the organization I was trained as a relationship personnel being engaged
into various jobs such as dealing with clients, answering customer queries through telephonic
conversations and providing them knowledge about new schemes and converting them into
our customers.
As my Research project I was given the topic on “A study of consumer behaviour in real
estate Industry in Lucknow ”. The project work was for this research was conducted in
The research has been conducted to gather information from 100 respondents & a structured
questionnaire will be used to collect the information from the respondents. The data which
was collected from them will be analyzed and classified. It was found that though the Real
estate has the highest market share it needs to improve on its service quality and retail
services.
5
TABLE OF CONTENT
1. Introduction
2. Company Profile
4. Research Methodology
5. Limitations
7. Findings
8. Suggestions/Recommendations
9. Conclusion
10. Bibliography
11. Appendix
6
INTRODUCTION
7
INTRODUCTION
CONSUMER BEHAVIOR
Consumer behavior is the study of when, why, how, where and what people do or do not
anthropology and economics. It attempts to understand the buyer decision making process,
tries to assess influences on the consumer from groups such as family, friends, reference
groups, and society in general. Customer behaviour study is based on consumer buying
behaviour, with the customer playing the three distinct roles of user, payer and buyer.
Relationship marketing is an influential asset for customer behaviour analysis as it has a keen
interest in the re-discovery of the true meaning of marketing through the re-affirmation of the
marketing. Social functions can be categorized into social choice and welfare functions. Each
method for vote counting is assumed as a social function but if Arrow’s possibility theorem is
used for a social function, social welfare function is achieved. Some specifications of the
homogeneity and weak and strong Paretooptimality. No social choice function meets these
function is identification of the interactive effect of alternatives and creating a logical relation
with the ranks. Marketing provides services in order to satisfy customers. With that in mind,
8
the productive system is considered from its beginning at the production level, to the end of
Belch and Belch define consumer behavior as 'the process and activities people engage in
when searching for, selecting, purchasing, using, evaluating, and disposing of products and
ENVIRONMENTAL
BUYER'S BLACK BOX
FACTORS BUYER'S
Product
amount
The black box model shows the interaction of stimuli, consumer characteristics, decision
(between people) or intrapersonal stimuli (within people).[2] The black box model is related to
the black box theory of behaviorism, where the focus is not set on the processes inside a
consumer, but the relation between the stimuli and the response of the consumer. The
marketing stimuli are planned and processed by the companies, whereas the environmental
9
stimulus are given by social factors, based on the economical, political and cultural
circumstances of a society. The buyers black box contains the buyer characteristics and the
The black box model considers the buyers response as a result of a conscious, rational
decision process, in which it is assumed that the buyer has recognized the problem. However,
in reality many decisions are not made in awareness of a determined problem by the
consumer.
Information search
Once the consumer has recognised a problem, they search for information on products and
services that can solve that problem. Belch and Belch (2007) explain that consumers
Personal sources
Commercial sources
Public sources
Personal experience
The relevant internal psychological process that is associated with information search is
10
The selective behaviour process
Stage Description
- Selective exposure consumers select which promotional messages they will expose
themselves to.
- Selective attention consumers select which promotional messages they will pay
attention to
important to them
The implications of this process help develop an effective promotional strategy, and select
11
INFORMATION EVALUATION
At this time the consumer compares the brands and products that are in their evoked set. How
can the marketing organization increase the likelihood that their brand is part of the
functional and psychological benefits that they offer. The marketing organization needs to
understand what benefits consumers are seeking and therefore which attributes are most
Purchase decision
Once the alternatives have been evaluated, the consumer is ready to make a purchase
decision. Sometimes purchase intention does not result in an actual purchase. The marketing
organization must facilitate the consumer to act on their purchase intention. The provision of
credit or payment terms may encourage purchase, or a sales promotion such as the
now. The relevant internal psychological process that is associated with purchase decision is
integration.
Postpurchase evaluation
The EKB model was further developed by Rice (1993) which suggested there should be a
feedback loop, Foxall (2005) further suggests the importance of the post purchase evaluation
and that the post purchase evaluation is key due to its influences on future purchase patterns.
12
BUYING
In the securities market it refers to a process by which the buyer of securities, whose
seller fails to deliver the securities contracted for, can 'buy in' the securities from a
tournament.
In management and decision making, buy-in (as a verb or noun) signifies the
to 'buy in' to the decision, that is, to agree to give it support, often by having been
On the English stock exchange, a transaction by which, if a member has sold securities which
he fails to deliver on settling day, or any of the succeeding ten days following the settlement,
the buyer may give instructions to a stock exchange official to "buy in" the stock required.
The official announces the quantity of stock, and the purpose for which he requires it, and
whoever sells the stock must be prepared to deliver it immediately. The original seller has to
pay the difference between the two prices, if the latter is higher than the original contract
price. A similar practice, termed "selling out," prevails when a purchaser fails to take up his
securities.
The practise is not limited to the UK Stock Exchange but is found in various forms on most
stock exchanges. The rules vary according to the local regulations, and the party which fails
13
Alternatives to short selling available on the SGX :
3. Short a CFD.
"Buying in" regarding poker tournaments is the process of entering a poker tournament that
requires an up-front payment. The size of the payment, otherwise known as the "Buy In",
determines the total winning prize pool and also contains a fee, otherwise known as the rake,
For example a 50 person capacity tournament could cost $55 to enter per player. In poker
terms this could equate to $50+5, meaning $50 goes to the prize pool to pay the eventual
winners and $5 (10%) goes to the house for hosting the tournament. In this example the prize
pool would contain $2500 and the house would take a total of $250 (also 10%).
Management
The process of lobbying for support for part of the influential group before suggesting an
goals and direction from a coach, leader or program. "Buying in" becomes synonymous
with commitment and dedication. In the Spring of 2007, two film makers, Tim
Breitbach(Dopamine) and Ralph Barhydt, started producing a film entitled, "Buying In"
that explores the social issues of buying in based on the success of the boys' and girls'
14
high school basketball teams at The Branson School, in Ross, California, who each won
15
MARKET AWARENESS
nuances and order flow that helps us with the decision making process. At tasty trade, we
use market awareness to help us broadly assess the market, while providing a sense of
Market awareness begins with an overall macro view of the market with stock index futures.
This means understanding the relative strength and weakness of the /ES, /NQ, /TF,
and /YM. We then may look to the bond, commodity and currency futures to gain an
overall view of the current state of the market. In addition, the VIX or /VX futures will
help gauge the fear in the marketplace. Outside of futures, we believe that an
understanding of liquidity, IV rank, binary events, and price movement are important
market awareness is the extent to which a brand is recognized by potential customers, and is
correctly associated with a particular product. Expressed usually as a percentage of the target
market, brand awareness is the primary goal ofadvertising in the early months or years of
a product's introduction.
Market awareness is related to the functions of brand identities in consumers’ memory and
can be reflected by how well the consumers can identify the brand under various
conditions. market awareness includes brand recognition and brand recall performance.
Brand recognition refers to the ability of the consumers to correctly differentiate the brand
they previously have been exposed to. This does not necessarily require that the consumers
identify the brand name. Instead, it often means that consumers can respond to a certain
16
brand after viewing its visual packaging images. Brand recall refers to the ability of the
A brand name that is well known to the great majority of households is also called
a household name.
Importance
"Awareness, attitudes, and usage (AAU) metrics relate closely to what has been called the
Hierarchy of Effects, an assumption that customers progress through sequential stages from
lack of awareness, through initial purchase of a product, to brand loyalty." In total, these
AAU metrics allow companies to track trends in Customer knowledge and attitudes.
Although the hierarchy of effects is considered as a one-way linear relationship, these three
stages are not “clear-cut”. The causal link might be reversed. The usage could cause the
awareness while the attitudes can also influence the awareness. For example, one owned a
Dell wireless mouse and had excellent using experience. Such experience might determine
During this process, the category need is stimulated first. For example, you need to do food
shopping. You will only write down the food categories, like chocolate, instead of brand
names on your list. You will scan the packages of chocolate on the shelf and recognize
friend having used the product in the past or constant advertisement. In this situation, brand
awareness does not require brand recall because brand awareness may occur along with
brand recognition. However, in other situations, brand recall is required. For instance, you
are in a hurry and want to grab a bite at a fast-food restaurant. It is not possible for you to
17
drive around and make a decision. You need to retrieve different fast-food brands in your
memory, choose one and go there directly. In this situation, constant advertisement is
important in consumers’ memory retrieval because the consumers are willing to go to the first
The eventual goal of most businesses is to make profits and increase sales. Businesses intend
to increase their consumer pool and encourage repeat purchases. Apple is a brilliant example
of how there is a very high recognition of the brand logo and high anticipation of a new
product being released by the company. An iPod is the first thing that pops into our minds
when we think of purchasing an mp3 player. iPod is used as a replaceable noun to describe an
mp3 player. Finally, high brand awareness about a product suggests that the brand is easily
recognizable and accepted by the market in a way that the brand is differentiated from similar
products and other competitors. Brand building also helps in improving brand loyalty.
Aided Awareness- This type of awareness is generated in a consumer. When asked about a
product category, if the consumer is aided with a list of company names and he recognizes
Spontaneous awareness --- When asked about a product category, the consumers are asked to
Top of the mind Awareness- When the name of the company is automatically recollected
because the consumer very promptly associates the brand with the product category, it is
called a top of the mind awareness of the product. It’s the first brand name listed by the
consumers when asked to name brands they know without any cues.
18
Methodologies
Mokhira discussion in industry and practice about the meaning and value of various brand
awareness metrics. Recently, anempirical study appeared to put this debate to rest by
suggesting that all awareness metrics were systematically related, simply reflecting their
difficulty, in the same way that certain questions are more difficult in academic exams.
There are many ways to generate brand awareness in the consumers. Listed below are four
such channels
Advertising is the activity or profession of producing information for promoting the sale of
brand awareness within consumers. They can be aired as radio ads, television commercials,
internet etc.
Guerrilla Marketing creative campaigns allow every small firm to compete with bigger
firms by carving out narrow but profitable niches. Nowadays, big firms also use guerrilla
19
(6) working hours that match the customer's requirements. The term 'Guerrilla Marketing' is a
registered trademark of author Jay Levinson who popularized it through his several
'Guerrilla' books.
It is an out of the ordinary way of marketing a product. Low-cost channels can be utilised to
generate a high level of interest in the product and create brand awareness. Utilisation of
personal contacts is the most popular way of guerrilla marketing. Product Plabanking is an
advertising technique used by companies to subtly promote their products through a non-
media.
A formal agreement between the product manufacturer and a media company can be
generated through which the media company also receives an economic benefit, usually in
the form of a fee. The media company in return will showcase the product through any of the
various means they have available to make the brand stand out. Some people, however,
For example, Coca-Cola could pay a given fee to have the title character drinking a Coke,
instead of a Pepsi beverage, or Toyota might pay to have one of the characters drive their
newest automobile. Through product plabanking, companies hope that moviegoers will take
note of the products used by the characters, and therefore think more strongly about using the
products themselves. Social Media is the most contemporary and cost-effective way of
creating a brand awareness with an online audience. Many companies use social media like
20
Challenges
imperative and very helpful to analyze the response your audience has towards the change in
packaging, advertising, products and messages sent across through various means. Working
towards creating an image in the minds of the consumers is not the last thing a company
should aim to do. Inviting consumer feedback and maintaining a constant presence in the
market is equally essential. Availability of the product to the consumer is one such way of
doing this. The consumer should not have to come looking for you when he is in need of
making a second purchase of the product, dealerships and outlets at convenient places should
make the consumer think of the brand as the most convenient and best solution to their needs
of fulfillments.
While brand awareness scores tend to be quite stable at aggregate level, individual consumers
show considerable propensity to change their responses to aided recall based brand
awareness measures. For unaided recall based brand awareness measures, consumers’ brand
awareness remain relatively stable. For top of mind recall measures, consumers give the
same answer in two interviews typically only 50% the time. Similar low levels of consistency
in response have been recorded for other cues to elicit brand name responses.
21
CONSUMER AWARENESS
Consumer awareness is the study of when, why, how, where and what people do or do not
anthropology and economics. It attempts to understand the buyer decision making process,
tries to assess influences on the consumer from groups such as family, friends, reference
groups, and society in general. Customer behaviour study is based on consumer buying
behaviour, with the customer playing the three distinct roles of user, payer and buyer.
Relationship marketing is an influential asset for customer behaviour analysis as it has a keen
interest in the re-discovery of the true meaning of marketing through the re-affirmation of the
marketing. Social functions can be categorized into social choice and welfare functions. Each
method for vote counting is assumed as a social function but if Arrow’s possibility theorem is
used for a social function, social welfare function is achieved. Some specifications of the
homogeneity and weak and strong Paretooptimality. No social choice function meets these
function is identification of the interactive effect of alternatives and creating a logical relation
with the ranks. Marketing provides services in order to satisfy customers. With that in mind,
the productive system is considered from its beginning at the production level, to the end of
22
Belch and Belch define consumer awareness as 'the process and activities people engage in
when searching for, selecting, purchasing, using, evaluating, and disposing of products and
ENVIRONMENTAL
BUYER'S BLACK BOX
FACTORS BUYER'S
Product
amount
The black box model shows the interaction of stimuli, consumer characteristics, decision
(between people) or intrapersonal stimuli (within people). The black box model is related to
the black box theory of awareness ism, where the focus is not set on the processes inside a
consumer, but the relation between the stimuli and the response of the consumer. The
marketing stimuli are planned and processed by the companies, whereas the environmental
stimulus are given by social factors, based on the economical, political and cultural
23
circumstances of a society. The buyers black box contains the buyer characteristics and the
The black box model considers the buyers response as a result of a conscious, rational
decision process, in which it is assumed that the buyer has recognized the problem. However,
in reality many decisions are not made in awareness of a determined problem by the
consumer.
Information search
Once the consumer has recognised a problem, they search for information on products and
services that can solve that problem. Belch and Belch (2007) explain that consumers
Personal sources
Commercial sources
Public sources
Personal experience
The relevant internal psychological process that is associated with information search is
24
The selective perception process
Stage Description
- Selective exposure consumers select which promotional messages they will expose
themselves to.
- Selective attention consumers select which promotional messages they will pay
attention to
important to them
The implications of this process help develop an effective promotional strategy, and select
25
INFORMATION EVALUATION
At this time the consumer compares the brands and products that are in their evoked set. How
can the marketing organization increase the likelihood that their brand is part of the
functional and psychological benefits that they offer. The marketing organization needs to
understand what benefits consumers are seeking and therefore which attributes are most
Purchase decision
Once the alternatives have been evaluated, the consumer is ready to make a purchase
decision. Sometimes purchase intention does not result in an actual purchase. The marketing
organization must facilitate the consumer to act on their purchase intention. The provision of
credit or payment terms may encourage purchase, or a sales promotion such as the
now. The relevant internal psychological process that is associated with purchase decision is
integration.
Postpurchase evaluation
The EKB model was further developed by Rice (1993) which suggested there should be a
feedback loop, Foxall (2005) further suggests the importance of the post purchase evaluation
and that the post purchase evaluation is key due to its influences on future purchase patterns.
26
BUYING
In the securities market it refers to a process by which the buyer of securities, whose
seller fails to deliver the securities contracted for, can 'buy in' the securities from a
tournament.
In management and decision making, buy-in (as a verb or noun) signifies the
to 'buy in' to the decision, that is, to agree to give it support, often by having been
On the English stock exchange, a transaction by which, if a member has sold securities which
he fails to deliver on settling day, or any of the succeeding ten days following the settlement,
the buyer may give instructions to a stock exchange official to "buy in" the stock required.
The official announces the quantity of stock, and the purpose for which he requires it, and
whoever sells the stock must be prepared to deliver it immediately. The original seller has to
pay the difference between the two prices, if the latter is higher than the original contract
price. A similar practice, termed "selling out," prevails when a purchaser fails to take up his
securities.
The practise is not limited to the UK Stock Exchange but is found in various forms on most
stock exchanges. The rules vary according to the local regulations, and the party which fails
27
Alternatives to short selling available on the SGX :
7. Short a CFD.
"Buying in" regarding poker tournaments is the process of entering a poker tournament that
requires an up-front payment. The size of the payment, otherwise known as the "Buy In",
determines the total winning prize pool and also contains a fee, otherwise known as the rake,
For example a 50 person capacity tournament could cost $55 to enter per player. In poker
terms this could equate to $50+5, meaning $50 goes to the prize pool to pay the eventual
winners and $5 (10%) goes to the house for hosting the tournament. In this example the prize
pool would contain $2500 and the house would take a total of $250 (also 10%).
Management
The process of lobbying for support for part of the influential group before suggesting an
and direction from a coach, leader or program. "Buying in" becomes synonymous with
commitment and dedication. In the Spring of 2007, two film makers, Tim
Breitbach(Dopamine) and Ralph Barhydt, started producing a film entitled, "Buying In" that
explores the social issues of buying in based on the success of the boys' and girls' high school
28
basketball teams at The Branson School, in Ross, California, who each won the State
29
REVIEW OF LITERATURE
30
Consumer behaviour
Cognitive theories of behaviour assume there is a poverty of stimulus. This (with reference to
behaviour ) is the claim that sensations are, by themselves, unable to provide a unique
description of the world. Sensations require 'enriching', which is the role of the mental model.
A different type of theory is the perceptual ecology approach of James J. Gibson. Gibson
rejected the assumption of a poverty of stimulus by rejecting the notion that behaviour is
based upon sensations – instead, he investigated what information is actually presented to the
perceptual systems. His theory "assumes the existence of stable, unbounded, and permanent
stimulus-information in the ambient optic array. And it supposes that the visual system can
explore and detect this information. The theory is information-based, not sensation-
based." He and the psychologists who work within this paradigm detailed how the world
could be specified to a mobile, exploring organism via the lawful projection of information
about the world into energy arrays. Specification is a 1:1 mapping of some aspect of the
world into a perceptual array; given such a mapping, no enrichment is required and
Behaviour -in-action
"behaviour -in-action", the notion that behaviour is a requisite property of animate action;
that without behaviour , action would be unguided, and without action, behaviour would
serve no purpose. Animate actions require both behaviour and motion, and behaviour and
movement can be described as "two sides of the same coin, the coin is action". Gibson works
from the assumption that singular entities, which he calls "invariants", already exist in the
real world and that all that the behaviour process does is to home in upon them. A view
31
known as constructivism (held by such philosophers as Ernst von Glasersfeld) regards the
continual adjustment of behaviour and action to the external input as precisely what
that a statement aims to achieve. The invariant does not and need not represent an actuality,
organism will never suffer change as time goes on. This social constructionist theory thus
A mathematical theory of behaviour -in-action has been devised and investigated in many
forms of controlled movement, and has been described in many different species of organism
using the General Tau Theory. According to this theory, tau information, or time-to-goal
Many philosophers, such as Jerry Fodor, write that the purpose of behaviour is knowledge,
but evolutionary psychologists hold that its primary purpose is to guide action. For example,
they say, depth behaviour seems to have evolved not to help us know the distances to other
objects but rather to help us move around in space.[44] Evolutionary psychologists say that
animals from fiddler crabs to humans use eyesight for collision avoidance, suggesting that
Building and maintaining sense organs is metabolically expensive, so these organs evolve
only when they improve an organism's fitness. More than half the brain is devoted to
processing sensory information, and the brain itself consumes roughly one-fourth of one's
32
metabolic resources, so the senses must provide exceptional benefits to fitness. Behaviour
accurately mirrors the world; animals get useful, accurate information through their senses.
Scientists who study behaviour and sensation have long understood the human senses as
adaptations. Depth behaviour consists of processing over half a dozen visual cues, each of
which is based on a regularity of the physical world. Vision evolved to respond to the narrow
range of electromagnetic energy that is plentiful and that does not pass through
objects. Sound waves provide useful information about the sources of and distances to
objects, with larger animals making and hearing lower-frequency sounds and smaller animals
making and hearing higher-frequency sounds.[44]Taste and smell respond to chemicals in the
adaptedness. The sense of touch is actually many senses, including pressure, heat, cold,
tickle, and pain. Pain, while unpleasant, is adaptive. An important adaptation for senses is
range shifting, by which the organism becomes temporarily more or less sensitive to
sensation. For example, one's eyes automatically adjust to dim or bright ambient light.
Sensory abilities of different organisms often coevolve, as is the case with the hearing of
echolocating bats and that of the moths that have evolved to respond to the sounds that the
bats make.
with specialized mechanisms handling particular behaviour tasks. [44] For example, people
with damage to a particular part of the brain suffer from the specific defect of not being able
module.
33
Theories of visual behaviour
Enactivism
Physiology
Sensory system
pathways, and parts of the brain involved in sensory behaviour . Commonly recognized
sensation (touch), taste and olfaction (smell). It has been suggested that the immune system is
an overlooked sensory modality. In short, senses are transducers from the physical world to
The receptive field is the specific part of the world to which a receptor organ and receptor
cells respond. For instance, the part of the world an eye can see, is its receptive field; the
light that each rod or cone can see, is its receptive field. Receptive fields have been identified
for the visual system, auditory system and somatosensory system, so far.
Consumer behaviour is a field of study that focuses on consumer activities. This has been a
topic of vast interest for the marketers all over the world. The marketing managers always
study these consumer behavioural changes and make continuous changes in products and
34
services. According to Blackwell et al. (2006), consumer behaviour is defined as the
activities that people undertake when obtaining, consuming and disposing of products and
services that they expect will satisfy their personal needs. Blackwell et al. (2006) mentions
consumer behaviour has become a factor that has a direct impact on the overall performance
consumer behaviour has become crucial especially due to fierce competition in retail industry
in the worldwide (Lancaster et al, 2002) consumer behaviour addressing the works of
Customer Satisfaction
Satisfaction has been broadly defined by Vavra, T.G. (1997) as a satisfactory post-
According to Westbrook and Reilly (1983) define satisfaction as, “The buyer’s cognitive
state of being adequately or inadequately rewarded for the sacrifices he has undergone”
by, associated with particular Customer Satisfaction Satisfaction has been broadly
According to Westbrook and Reilly (1983) define satisfaction as, “The buyer’s cognitive
state of being adequately or inadequately rewarded for the sacrifices he has undergone”
35
during and after the consumption experience.13 Oliver (1981)14 defines customer
(1996)15 offers more elaboration: “customer satisfaction as a state of mind in which the
customer’s needs, wants and expectations throughout the product or service life have
Account Glossary points out that, “Customer satisfaction is an ambiguous and abstract
concept and the actual manifestation of the state of satisfaction will very from person to
experience and evaluating it … One could have a pleasurable experience that caused
supposed to be. So satisfaction / dissatisfaction isn’t an emotion, it’s the evaluation of the
emotion”. define “Satisfaction, then, is the evaluation or feeling that results from the
disconfirmation process. It is not the comparison itself (i.e., the disconfirmation process),
component.”
36
REAL ESTATE
37
REAL ESTATE
Real estate
Real estate is "property consisting of land and the buildings on it, along with its natural
resources such as crops, minerals or water; immovable property of this nature; an interest
vested in this (also) an item of real property, (more generally) buildings or housing in
general. Also: the business of real estate; the profession of buying, selling, or renting land,
buildings or housing." It is alegal term used in jurisdictions whose legal system is derived
from English common law, such as India, the United Kingdom, United States, Canada,
Residential real estate may contain either a single family or multifamily structure that is
Residences can be classified by, if, and how they are connected to neighbouring residences
and land. Different types of housing tenure can be used for the same physical type. For
example, connected residents might be owned by a single entity and leased out, or owned
separately with an agreement covering the relationship between units and common areas and
concerns.
38
Major categories
Multi-family house – Often seen in multi-story detached buildings, where each floor
owned by individuals. Common grounds and common areas within the complex are
owned and shared jointly. In North America, there are townhouse orrowhouse style
multi-unit housing complex own shares in the cooperative corporation that owns the
property, giving each resident the right to occupy a specific apartment or unit.
Semi-detached dwellings
Detached dwellings
Portable dwellings
39
Houseboats – A floating home
Tents – Usually very temporary, with roof and walls consisting only of fabric-like
material.
The size of an apartment or house can be described in square feet or meters. In the United
States, this includes the area of "living space", excluding the garage and other non-living
spaces. The "square meters" figure of a house in Europe may report the total area of the walls
enclosing the home, thus including any attached garage and non-living spaces, which makes
It can be described more roughly by the number of rooms. A studio apartment has a single
bedroom with no living room (possibly a separate kitchen). A one-bedroom apartment has a
living or dining room separate from the bedroom. Two bedroom, three bedroom, and larger
units are common. (A bedroom is a separate room intended for sleeping. It commonly
contains a bed and, in newer dwelling units, a built-in closet for clothes storage.)
Other categories
Chawls
Villas
Havelis
The size is measured in Gaz (square yards), Quila, Marla, Beegha, and acre.
See List of house types for a complete listing of housing types and layouts, real estate
trends for shifts in the market and house or home for more general information.
40
Sales and marketing
It is common practice for an intermediary to provide real estate owners with dedicated sales
and marketing support in exchange for commission. In North America, this intermediary is
referred to as a real estate broker (or realtor), whilst in the United Kingdom, the intermediary
41
COMPANY PROFILE
42
COMPANY PROFILE
Lucknow, India. The Group’s footprints span sectors such as Real Estate, Property
Management, various Allied Services, Civil Construction, Imports & Exports and Glass
Processing. An evergrowing and expanding business portfolio is the group's hallmark. which
well poised to contribute to and utilize the growth & development in each of these sectors.
The Group has already developed nearly 6 million sq. ft. of residential & commercial
property and is set to develop an additional 15 million sq. ft. area spread in major cities of UP
The Group envisions to enrich lives and raise the standard of living of society at large.
The Group’s mission is to provide world class products & services in each of its areas of
At the Shalimar Group, we have a strong and dedicated team of over 750 personnel who are
our the partners in success. It is because of their dedication that we have developed a large
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The Shalimar Brand Name
Shalimar Corp Limited has constructed very elegantly and strikingly; a large number of
facilities, and multi-storey complexes, by the name of "Shalimar ", since the inception of it in
Service Excellence
Achieving the ultimate satisfaction of our customers & clients through the beautiful and
Organizational Strengths
Under the canopy of creative & innovative construction skills & technology alongside and
scrupulous & efficient management, our organization has carved a respectable niche for itself
in the national market. Our pool of erudite, experienced, and expert professionals from
engineering and other fields command very comprehensive & exclusive knowledge as well
Financial Strength
Shalimar Corp Limited has delivered consistent and handsome growth through its annual
We built our first business premises, "SAS HOUSE", in the year 1987. Over the years we
have constructed a large number of diverse commercial premises, offices, and state-of-the-art
the form of ‘Shalimar Titanium’, which also houses our Corporate Headquarters.
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Located in prime areas of the city, our business and commercial spaces possess unique style
and modern technology. We are well-equipped to provide buildings of your choice and
dreams, promptly and punctually. Our buildings are testament to our esoteric competence and
Our recent constructions include: A Built to Suit Software Park for Tata Consultancy Services
(TCS) and a Hotel Complex for Donaday Hotels of U.K. at Vibhuti Khand, Gomti Nagar,
45
VISION AND MISSION
Vision
growth, just not only building better homes or offices but also providing better facilities, in
Shalimar: A Mission
Shalimar Group, a well-recognized name in real estate business, made an entry in this field in
1985 from Lucknow, initially known as SAS Group. It has grown from strength to strength
setting benchmarks for quality standard innovating in style and technology that captured the
attention of discerning customers. Highly visible buildings constructed under its banner
epitomized excellence and redefined luxurious lifestyles which was once associated with
Lucknow Nawabi culture. After fluttering its banner in the skyline of Lucknow, it has carried
Delivering world class projects with balanced organizational growth is our mission. Our
motto is not only to build better homes, offices and commercial places but to also provide a
better quality of life and environment to end users. We have an unflinching commitment to
the highest levels of innovation professionalism, social and moral responsibility to our
customer enduring them with enthralling architecture, lavish comforts and a gracious living.
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ORGANIZATIONAL STRUCTURE
The people who have been a source of continuous power and strength to 'Shalimar' are our
foundation pillars. Their management skills and never-ending endeavour to take Shalimar a
step ahead of not only its counterparts but also exceed its own performance have enabled
Mr. Khalid Masood Joint Managing Director in M/s. Shalimar Corp Ltd.
A blend of MBA, Civil Engineering and multi-dimensional business skills, he stands out as a
guiding light in framing Shalimar Group’s business strategy. Being extremely focused on all-
47
The energy bundle who fuels Shalimar with enthusiasm and holds administrative duties. She
is also responsible for landscaping and interiors of Shalimar projects. Mrs. Seth lends a touch
A visionary with a highly developed business acumen, Mr. Masood is one of the leading
sheet anchors of the Shalimar Group. He has been guiding the company’s corporate and
marketing affairs with foresight, disciplined planning and efficient execution since its
inception. Under his dynamic spearheading, Shalimar has achieved remarkable professional
strength.
His sterling qualities include leadership capabilities, pursuit of excellence, inspiring &
encouraging his workforce for dedicated commitment, taking the company to greater heights
of success.
Government allied works on his shoulders. He has expertise in execution of projects as well
One of the youngest and most illustrious businessmen in the Indian real-estate sphere
currently, our Director Mr. Kunal Seth is an infusion of fresh young blood into the stolid and
well-founded structure Shalimar figuratively is. An alumni of the esteemed Narsee Monjee
century business techniques on the work floor and the results have been astounding to say the
least.
49
awards
Excellence in work and continuous progress has won the Shalimar Group many accolades.
Today it stands out as a name of repute in the real estate world. Spreading its wings from
Shalimar Group counts its buyer's satisfaction and achievement as its prime most appraisal.
Honorable Minister presenting the Zee News Jewels of the Real Estate Award to
CSR Philosphy
50
Shalimar Corp Limited (“SCL” or “the Company”) firmly believes in adopting the highest
SCL recognizes the community in which it operates as not just a stakeholder but the very
CSR Vision
SCL through its CSR initiatives will strive to enhance value creation in the society and the
CSR Policy
The Corporate Social Responsibility Policy (“CSR Policy”) adopted by the Company spells
out Company’s its philosophy towards its social responsibilities ;ongoing commitment to
contribute to the economic and social development of the society and lays down the
disclosure, evaluation and assessment of projects, programmes and activities forming part of
Company’s CSR.
SCL’s CSR Policy is framed to comply with the provisions of Section 135 of the Companies
Act, 2013 (“the Act”) and the Rules (both as defined hereinafter) and shall apply to all CSR
51
The Policy has been approved at the meeting of the Board of Directors held on December 01,
Implementation of procedures for carrying out the CSR initiatives and reporting
thereof
Definitions
company, nominated as such by Chairperson in writing who shall also be the ex-
“Rules” means the Companies (Corporate Social Responsibility Policy) Rules, 2014.
CSR Committee
The CSR Committee shall consist of 3 (three) directors, out of which at least 1 (one) director
shall be independent director. The CSR Committee shall meet at least twice in a financial
year and the quorum for CSR Committee meetings shall be 2 (two) members. Such other
52
The Committee members may attend the meeting physically or via such audio-visual means
as permitted under the Act. The CSR Committee may call such employees(s), senior
In terms of section 135 of the Companies Act, 2013 and the Rules made thereunder, the
Board of Directors of the Company at its meeting held on November 10, 2014 has constituted
CSR Committee
The CSR Committee to, inter alia, carry out the following functions;
which shall indicate the activities to be undertaken by the Company as specified in Schedule
VII of the Companies Act, 2013 and the rules made thereunder.
iv. To carry out any other function as mandated by the Board from time to time and / or
CSR Activities
53
CSR programmes or projects to be undertaken by the Company in terms of the Policy (either
new or on-going), shall relate to one or more activities listed in Schedule VII of the Act, as
CSR expenditure shall include all expenditure including contribution to corpus, for projects
the CSR Committee, but shall not include any expenditure on any activity which does not fall
The Company shall allocate the following amounts towards its annual CSR corpus -
i. 2% of average net profits made during the three immediately preceding financial
years, as prescribed under the Act and the Rules and calculated in accordance with
Section 198 of the Act, or such other percentage as may be prescribed by the Central
iv.
In the absence of Net Profits in any financial year, the Company shall endeavour to
The allocated CSR budget will be utilized for CSR activities undertaken within India,
i. exclusively for the benefit of employees of the Company or their family members;
and/or,
54
The Company shall endeavor to spend the entire amount of statutory minimum contribution
limit in a financial year. In the event, the Company is unable to spend such amount in any
given financial year, the Board shall specify the reasons for the same in its report to the
The CSR projects or programmes will be identified by CSR Co-ordinator either suo-moto or
local bodies, citizen’s forums, central or state government, registered trusts, societies or other
CSR Committee shall formulate its annual planned expenditure, for a financial year, for the
CSR activities and submit the same for approval of the Board in the format prescribed
above.
The Board shall, after taking into account the recommendations made by the CSR
The Board and/or CSR Committee may delegate the power(s)/authorize the CSR Co-
The Board shall ensure that Company spends the requisite amounts specified under the Act
on CSR activities, failing which it shall specify in its report the reasons for not spending the
amount.
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Mode of Implementation
ii. through any other Registered Trust, Society, Section 8 Company (i.e. a company
incorporated under Section 8 of the Act), established by the holding, subsidiary and
iii. through any other Registered Trust, Society or Section 8 Company, not being
established by the holding, subsidiary and associate company of the Company, with
areas; or,
iv. in collaboration with other companies; or, combination of one or more of the above.
In case one or more CSR projects or programme(s) are undertaken in collaboration with any
other company and/or society, trust or section 8 company, clear demarcation with respect to
established.
The time period for implementation of a particular CSR project or programme or activity
shall depend on, amongst other things, its nature, extent of coverage, intended impact of the
programme etc.
All CSR projects or programmes under the Policy shall be undertaken in India only, with due
consideration and preference to local areas around area of operations of the Company.
56
to the Policy during a financial year, shall decide the implementation schedule and frame
suitable project-specific monitoring mechanism. The CSR Co-ordinator and/or one or more
respectively.
The CSR Co-ordinator shall submit a quarterly report to Chairperson, outlining the
The CSR Co-ordinator will endeavor to obtain feedback from the beneficiaries on on -going
CSR projects.
The Board’s report of the Company shall contain an annual report on CSR containing the
General
The Company shall take such necessary steps, as may be deemed necessary, for building
CSR capacities of its own personnel and/or those of the implementing agencies engaged for
CSR activities, through Institution(s) authorized in the said behalf, from time to time.
The interpretation of the Chairperson of CSR Committee on the provisions of the Policy shall
be final.
The Company reserves the right to amend, cancel or replace the Policy at any time, subject
57
PRODUCT RANGE
Residential
58
Shalimar Gallant,
Lucknow
59
Ibiza Town
Delhi/NCR
60
Shalimar Mannat,
Lucknow
61
OBJECTIVE OF THE STUDY
62
OBJECTIVE OF THE STUDY
An objective is the most important part of a research .The objective is the bull’s eye,
which a researcher has to hit. The objective determines the path on which a researcher
has to walk on, and help him/her by not deveining from the path.
Analyse consumer satisfaction for after sales service provided by Real estate.
63
SCOPE OF STUDY
The scope formulation is the first step to a successful Research process. Project undertaken
the problem of analyzing the consumer satisfaction with special reference to Real estate in
lucknow
To keep things in mind that as the ever changing competitive business environment. New
thoughts and ideas should pour into its, Research & Development to innovate its existing
This study enables the user with answer to formulate an effective marketing mix strategy
with a broader prospective to tap areas where it did not feel the need earlier, hence the
decision of whether to penetrate this section or not can be found out at the end of the data
analysis.
It also gives an idea of the potential of our business in the future & the fluctuation in prices
64
RESEARCH METHODOLOGY
65
RESEARCH METHODOLOGY
INTRODUCTION
evaluation and revaluation of primary and secondary research. The techniques and concepts
used during primary research in order to arrive at findings; which are also dealt with and lead
RESEARCH DESIGN
Exploratory Research is one in we don’t know about the problem, we have to find about the
problem and then work on solving the problem. Whereas in case of descriptive research, we
know the problem, we just have to find the solution to the problem. Generally descriptive
Here after doing the secondary research, we found the general perception about the retail
baking but then in second phase we tried to figure out where the difference lies and on what
RESEARCH TOOL
Research tool
The purpose is to first conduct a intensive secondary research to understand the full impact
and implication of the industry, to review and critique the industry norms and reports, on
which certain issues shall be selected, which remain unanswered , this shall be further taken
66
up in the next stage of secondary research. This stage shall help to restrict and select only
the important question and issue, which inhabit growth and segmentation in the industry.
DATA COLLECTION:
Both primary and secondary data have been collected very vigorously
Secondary data: it is collected by the study of various reports. The reports studied under
The report is the result of a survey which was undertaken in Lucknow city. The objectives
of the project has been fulfilled by getting response from the customer associated to these
available through the questionnaire are used to evaluate the consumer behaviour for the
products of Real estate and the willingness of the customer to purchase its products on
future.
The project also covers an analysis of the switch over of customers to competitors products
in the market.
Project undertaken the problem of analyzing the customer satisfaction in Real estate
67
THE RESEARCH OBJECTIVE
Based on the problem the objective of the research is divided into two which
are as follows:
Primary Objective:
Secondary Objective:
investigation is carried upon the customers in Lucknow city. The reason for choosing this
design is to get responses from the customers so that their buying behaviour about the
The primary data source has been collected through questionnaire by personally
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Websites
Books
Newspaper
Personal consultation
The field work is conducted in the Lucknow city in Shiv shakti infravision
Pvt.Ltd. and other Real Estate Industries as well as various Places like Mall, Showroom and
The sample size consists of 100 units out of which the most logical and non
biased response are selected thus the sample size is taken out to be 100 units.
69
LIMITATION
70
LIMITATION
Though, best efforts have been made to make the study fair, transparent and
error free. But there might be some inevitable and inherent limitations. Though outright
It was not possible to cover each and every respondent due to time constrains.
Unwillingness on the part of the customers to disclose the information as per the
questionnaire.
The decisiveness on the part of the customers regarding some question hence difficulty
71
DATA ANALYSIS
AND INTERPRETATION
72
DATA ANALYSIS
Yes 87
No 13
INTERPRETATION
87% respondent said that they have idea of purchasing Real estate products but 13% are not
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2. Have you ever purchase product of Real estate ?
Yes 77
No 23
INTERPRETATION
77% respondent said that they have ever purchase product of Real estate but 23% are not
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3. What helps you to decide which product of Real estate you purchase ?
TV Advertisement 23
Personal recommendation 36
Special offer 11
Radio advertising 17
News paper 7
Word of mouth 6
INTERPRETATION
23% respondent said that they decide to purchase the product of Real estate by TV
75
4. How frequently you see advertisement of Real estate product ?
Weekly 27
Monthly 37
daily 27
None 19
INTERPRETATION
25% respondent said that they have see advertisement of Real estate product weekly, 33%
76
5. For which one of the following purpose you visit in your product ?
INTERPRETATION
57% respondent said that they have purpose to visit product purchasing brand goods, 23%
77
6. What according to you are attractive features that buy Real estate product ?
Quality 32
Economy 49
look wise 19
19%
32%
49%
INTERPRETATION
32% respondent said that they have attractive features that buy Real estate product Quality,
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7 Are you satisfy with Real estate Products?
Yes 91
No 9
INTERPRETATION
79
8. Do according to you Real estate product have changed the way the Consumer behavior
Yes 71
No 29
INTERPRETATION
71% respondent said that Real estate product have changed the way the Consumer behavior
80
9. Do you suggest Real estate products to others
Yes 89
No 11
INTERPRETATION
89% respondent said that they suggest Real estate products to others yes but 11 said no.
81
10. How will you rate your present Real estate product performance?
Poor 7
Satisfactory 23
Fair 27
Good 21
Very good 13
Excellent 9
INTERPRETATION
7% respondent said that they rate your present Real estate product performance poor, 23%
82
FINDINGS
83
FINDINGS
87% respondent said that they have idea of purchasing Real estate products but 13%
are not
77% respondent said that they have ever purchase product of Real estate but 23% are
not
23% respondent said that they decide to purchase the product of Real estate by TV
23% purchasing local goods, 11% only gathering information and 9% others.
32% respondent said that they have attractive features that buy Real estate product
behavior towards Real estate product Yes but 29% said no.
89% respondent said that they suggest Real estate products to others yes but 11 said
no.
7% respondent said that they rate your present Real estate product performance poor,
23% satisfactory, 27% fair, 21% good, 13% very good, 9% excellent.
84
SUGGESTIONS AND
RECOMMENDATION
85
SUGGESTIONS AND RECOMMENDATION
The brand loyalty for more Shalimar can be increased if the Quality and appearance of
the products are given due attention because Ansal has captured a major share of
automobile sector.
The switch over of the customers can be prevented if more of new products are launched
more frequently like Ansal which launches new products with slight variations from the
previous.
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CONCLUSION
87
CONCLUSION
The customers of Real estate are brand loyal with only a small percent want to shift over
to other brands. Trying of other brands by customers is mainly because the customer
Due to high brand loyalty the customers of Real estate recommend its product to others.
The customers are satisfied with the product range of Real estate product.
88
BIBLIOGRAPHY
89
BIBLIOGRAPHY
BOOKS AUTHORS
Websites
www.Real estate.com
www.google.com
www.shivshaktiinfra.com
90
ANNEXURE
91
QUESTIONNIARE
( a) Yes ( b) No
( a) Yes ( b) No
Q3) What helps you to decide which product of cement you purchase?
92
Q5) For which one of the following purpose you visit in your product ?
(d) Others
Q6) What according to you are attractive features that buy Real estate product ?
Q8) Do according to you Real estate product have changed the way the
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Q9.Do you suggest Real estate products to others
Yes
No
Q10. How will you rate your present Real estate performance?
Poor
Satisfactory
Fair
Good
Very good
Excellent
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