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Analysis On MarketIng Strategies Of Real Estate In Bangladesh

Introduction 1.1 Introduction & Background The Current trend of urban growth in Bangladesh is about 6-7% per annum. At present 29% of Bangladeshs population live in urban areas, which will be 34% by the year 2025. The role of Real Estate Entrepreneurs in providing the housing facilities for the growing urban population is very important and these are substantially influencing the growth pattern of the city and its sustainability to the trade. Real estate business especially apartment projects has started in late 1970s in Dhaka City. But from early '80s the business started to grow and flourish. At present, more than 350 companies are active in business but 95% business is still dominated by of top 10 Companies. Present market is growing at the rate 15%. The main reasons why real estate business developed in Dhaka city are as follows: Scarcity of open space in the important areas of the city Hazards of purchasing land Hazards of construction of building Rapid increase in population of Dhaka Decrease in the rate of bank interest Price of land and apartments is increasing day by day Rent of the apartments is comparatively higher than the rent of privately constructed flats Open Market Economy. Remittance of foreign currency is very easy Security Service facilities such as garbage disposal, central satellite TV connection, apartments services saves time, roof top facilities, lift and so on A good number of real estate companies are working under one umbrella association named Real Estate and Housing Association of Bangladesh abbreviated as REHAB. Almost 300 Companies are at present affiliated with this association. Table 3.1: List of leading companies

Sl No Name of Company 1 Asset Developments & Holdings Ltd 2 Advanced Developments and Technologies Ltd 3 Building Technologies and Ideas Ltd 4 Assurance Developments Ltd 5 Building Technologies and Ideas Ltd 6 Amin Mohammad Ltd 7 Domino Ltd 8 Navana Real Estate Ltd 9 Rangs Properties Ltd 10 Sheltech Ltd Developments & Holdings Ltd. a privately owned Real Estate company with a growing radius is the Leader of this particular industry in terms of Scale of Operation and Production Volume since 2005 and still holds the position as well. The Real Estate company, which has been selected to evaluate its Operational Management Strategy, is Asset Developments & Holdings Ltd abbreviated as ADHL. The company started its business in the year 1999. Its main and only business operation is to build and sell apartments by developing land in prime location of Dhaka city. 1.2 The Problem Statement Asset Developments & Holdings Ltd has been operating a lot of market promotion activities, research and development works, proper employee training, efficient management team over the years. It has been operating as a market leader in this particular industry in terms of Scale of operation, HR volume, Production volume and reputation as well. Although the company has gone through massive production since 2005, various strategies were formulated. Various policies were adopted in different steps of the operational process and Control mechanisms. This massive scale of operation required the Standardization of Construction materials Material procurement process

Construction process Quality control mechanism Safety & Security issues in construction fields. Financial Policy HR recruitment, training and appraisal system Project Management techniques Product quality Marketing policy And customer support system By standardizing these factors for the operation and management, the company has successfully handed over about 3000 apartments to its customers with reputation, which in tern proved the success of this Standardization Strategy. Since the establishment of the company, the companys operation was limited to the construction of 6 storied apartment buildings only. After 2008 the Government imposed new rules and regulations for the construction in Dhaka city under the authority RAJUK. This new Regulation brought a big change in the previous trends in Building construction of the city. Some regulations and constraints have been imposed which changes the current practice construction of all types of construction companies, so as in Real Estate sector. ADHL being the leader of this sector, has to review its strategies and polices in order to cope with the abrupt change in the Government policy. As per the new regulation, the total floor area is proportioned with the Land area which is determined by the Size or Area of the land and the Width of adjacent Road. It also restricts the maximum Ground Coverage for any Structures. As the land usage is restricted (33% to 50 % depending on the Plot area), it has become uneconomical to construct just 6 storied buildings whereas high rise buildings may be constructed. 1.3 Objectives The broad objectives of the study are to present some facts, findings and suggestions to some issues of its marketing activities. The specific objectives of the study are to: 1. Present a short picture Operational Strategies of ADHL.

2. Evaluation of the recent changes in Government Policy for Construction 3. Discover the adoptability of the companys Current Strategy and organizational structure with the current situation. 4. Discover the changes required for the present practice of ADHL. 5. And suggest probable solutions for the specific problems. Methodology 2.1 Variables and Factors Covered The study has been done on the basis of both secondary and primary data collected from the Asset Developments & Holdings Limited office. The variables of the study mainly consist of Organizational structure Project management techniques. Control mechanism Quality Control System Human Resource Management (recruitment, training and appraisal system) 2.2 Sources of Data The primary data have been collected by questionnaire and direct interview with 25 executives in top management of the company. The study is mainly based on qualitative information extracted from several documents, reports, statistics and brochures of Asset Developments & Holdings Ltd. Besides qualitative information, it has been analyzed the findings based on various opinions of the executive. Interviews, verbal communication and discussion with the executives of the company gave some insights to the problems and issues of the study. 2.3 Population and Sampling Population Frame: The population frame of this study comprise all (550) Employees of the Project Operation, Project Coordination, Customer Relation & Sales, Supply Chain/Procurement, Law & Company affairs, HRD, and Architecture & Interior Design Departments of ADHL. Sampling:

The Sapling method is adopted is Stratified Random Sampling because there are identifiable subgroups of elements within the population having different parameters on a variable of interest. Among the above mentioned departments, 7 samples from Project Operation Department and a group of three people from other six departments were selected randomly. 2.4 Methods of Collecting Data The methods of collecting data followed throughout the study are as follow: i. Personal Interview. ii. Questionnaire. iii. Official documents 2.5 Tools of Analysis The study has been done by primary data analysis with MS excel software and tabulation as direct interviews held and those information were interpreted to show the findings. Typical data analysis includes the comparison of the actual data with standard data. The analysis is performed on the basis of data that obtained in response of a set of questions during the study. Organizational Features of Asset Development & Holdings Ltd 4.1 History & Background The real estate company, which has been selected to evaluate the marketing practices and effects of real estate and housing development in Bangladesh, bears the name Asset Developments & Holdings Ltd abbreviated as ADHL. The company started its business in the year 1999. Its main and only business operation is to build and sell apartments by developing land in prime location of Dhaka city. The basic information of the company is provided below: Name of the company : Asset Developments & Holdings Ltd. Address : 91Gulshan Avenue, Dhaka1212. Telephones : 8817190, 8815975, 8829437, 8812908 Fax : 880-2-8828272. Type of organization : Private Limited Company. The company maintains various project offices in different locations of the metropolitan city of Dhaka. The company has appointed legal, tax and accounting advisory firms, who provide their expert services when required. The company also appoints design firms, surveyors on project basis.

4.2 HR & Administrative Structure An organization is as good as its human resources. Based on this very basic fundamental philosophy, ADHL believes that human beings are its most valuable assets and prime movers. ADHL also believes that the potential of human resources is limited only to the extent to what one can put to use. Realizing this, ADHL makes considerable investments in attracting and developing talent ant and dynamic professionals, not only to do their job flawlessly, but also to give them an environment, which fosters innovation and entrepreneurship. The extent of empowerment that is enjoyed by the people at various levels of the organization enables each employee, from the very bottom to the top, to contribute to the overall momentum of the company. The employees of Asset Developments & Holdings Ltd are differentiated not just on the strength of their professional competence, but also on the basis of individual resilience of character and the spirit of enterprise. In the face of todays competitive business environment, ADHL develops and retains a motivated workforce. ADHL create an excellent working environment for them that reflect and promote a high level of loyalty and commitment, both to its employees and from its employees. At ADHL, good work is always expected and rewarded. Over the years, the company has been successful in providing an environment and culture that nurtures individual growth and development, and allows people to attain personal fulfillment as well as achieve company objectives. It is the competent workforce that provides the company with every reason to be optimistic about the future. The organizational structure and organogram of the company is presented in Figure 1 and 2. It may be seen from the organogram that, the company concerned is well managed and having a complete management hierarchy. 4.3 Vision & Mission Vision: 1. We will be number one developer in terms of quality control. 2. We will clearly identify customers' need and preferences. 3. We will focus on relationship with the customers. 4. We will keep abreast of new technological improvement and try to adapt that. 5. We will sharpen the skills of our workforce and use them efficiently. Mission: The corporate philosophy of ADHL is however based on a very simple principle- "Give the customer value for his money". To this end, it is constantly working towards upgrading and improving every aspect of its activity.

4.4 Values To anticipate the aspirations of their customers and to respond creatively and competitively with branded products and services which raise the quality of life. The long-term success requires a total commitment to exceptional standards of performance and productivity, to working together effectively and to a willingness to embrace new ideas and learn continuously. This is ADHLs road to sustainable, profitable, growth for their business and long-term value creation for their shareholders and employees. The values of the company as detailed by them in their company credentials are as follows: Standard of Conduct: ADHL conduct its operations with honesty, integrity and openness, and with respect for the human rights and interests for their employees. It will similarly respect the legitimate interests of those with whom they have relationships. Obeying the Law: ADHL and its employees are required to comply with the laws and regulations of the countries in which they operate. Community Involvement: ADHL strives to be a trusted corporate citizen and, as an integral part of society, to fulfill our responsibilities to the societies and communities in which they operate. Public Activities: ADHL is encouraged to promote and defend their legitimate business interests. They co-operate with governments and other organizations, both directly and through bodies such as trade associations, in the development of proposed legislation and other regulations, which may affect legitimate business interests. They neither support political parties nor contribute to the funds of groups whose activities are calculated to promote party interests. The Environment: ADHL is committed to making continuous improvements in the management of their environmental impact and to the longer-term goal of developing a sustainable business. They work in partnership with others to promote environmental care, increase understanding of environmental issues and disseminate good practice. Innovation: In their scientific innovation to meet consumer needs they respect the concerns of their consumers and society. It works on the basis of sound science applying rigorous standards of product safety.

Competition: ADHL believes in vigorous yet fair competition and supports the development of appropriate competition laws. It conducts its operations in accordance with the principals of fair competition and all applicable regulations. Business Integrity: ADHL does not give or receive whether directly or indirectly bribes or other improper advantages for business or financial gain. No employee may offer give or receive any gift or payment, which is, or maybe construed as being, a bribe. Any demand for, or offer of, a bribe must be rejected immediately and reported to management. Their accounting records and supporting documents must accurately describe and reflect the nature of the underlying transactions. No undisclosed or unrecorded account, fund or asset will be established or maintained. Conflicts of Interests: All ADHL employees are expected to avoid personal activities and financial interests, which could conflict with their responsibilities to the company. They must not seek gain for themselves or others through misuse of their positions. 4.5 Customer Service Customer service is the key to any business because bad word of mouth advertising travels ten times faster than good word of mouth. Here is a perfect example. If you go to get your hair cut and it is terrible. The first ten people that will listen to the story, you will be sure to tell them where not to get their hair cut. However, if you liked your haircut you will not go around boasting about it. The first few people that notice and compliment you on a nice haircut, you will be happy to refer them to the nice girl at the mall that cut and styled your hair. Same goes for where you ate lunch. If you liked the food but not the customer service you will be sure to tell people where not to go before you tell them a nice place to go. It is just human nature that makes a lot of people tend to be this way. So lets start off on the right foot and make a good customer service impression as a real estate organization for your customers. Whatever the business is customer service can make or break business quickly. If the customer service skills leave a lot to be desired, it will lose out on referrals as well as repeat business. Huge amounts of money are on the line when people buy real estate and houses. Buyers and sellers need to trust real estate agents, and customer service is the key to generating trust and sales in real estate. "Service is king, and it can make or break a company. Nothing beats knowledge, experience, problem solving and responsiveness. Combining that with good manners usually wins a customer for life. It is one thing to talk about excellent customer service, but it is

another to demand it and maintain it as a key element of an organization's culture. The first reaction to customer complaint is a negative one. No matter how much youve tried, some of them will not be satisfied. But you should try and see customer complaints in a positive light. Complaining clients are clients who care about getting better service. They want to keep working with you. Therefore, instead of seeing complains as a blow to yourself or your business, try and see them as valuable feedback. 4.6 SWOT Analysis For SWOT analysis data have been collected from the management bodies of Asset Development & Holdings Ltd and other Real Estate company. For time constraint it was not possible to do the primary survey among the customers. SWOT analysis has been developed solely based on judgment of the management members. Table 4.1: SWOT ANALYSIS Factors Asset Development & Holdings Ltd. Strengths: Internal Technology ............... Technical Expert ....... Quality ...................... Goodwill ................... Loyalty ...................... Labor ......................... Clients........................ High-Technology It has technical experts Better quality Strong goodwill Guard core loyal customers Highly skilled labor Higher-income, Middle-income level client

Weaknesses: Internal Cost ................................. Advertising ...................... Innovation ....................... Expansion facility ........... High overhead cost Less media uses for advertising Lack of innovation Small area of expansion Opportunities: External Easy availability of credit ........................... Higher propensity to spend ......................... Status symbol ................ Bank loans are easy to get to finance new projects. People are more inclined to spend due to raise in higher income level. Buying an apartment in a prestigious area is accepted as a status symbol.

Threats: External Intense competition ...... Increased brand loyalty.... Less availability of appropriate and competent sales persons. There are many potential market competitors around the locality, who had been operating their business in the real estate field. Customers are more inclined to the market leaders of the industry.

The profession of sales person is not so popular here, so it is hard to get efficient and competent sales persons around. 4.7 A brief about Projects The company is poised to embark on challenging projects in the new millennium. It has already handed-over almost 150 complexes (06 storied residential building) and is now constructing around 150 housing projects (06 storied residential building) within Dhaka city. The target client group of these projects is middle and higher income group of people. The projects in Gulshan and Banani are aimed at higher income group and the project at Kalyanpur, Mohammadpur and Uttara are offered for the middle-income group and also the higher income group of people. Table 4.1: Number of Handed-over Projects of ADHL Year Number of Handed-over Project (6-storied residential building -10 Apartments in each project) 2003 10 2004 15 2005 30 2006 40 2007 45 Some of these and their locations are provided below: Anthmion in Banani, Dhaka. Apartment Size: 1760 sft. San Classic in Gulshan, Dhaka. Apartment Size: 2700 sft. to 2900 sft. Kahrey kabir in Banani, Dhaka. Apartment Size: 2250 sft. Heraldic Heights in Mohammadpur, Dhaka. Apartment Size: 1200 sft Pacifica in Gulshan, Dhaka. Apartment Size: 2700 sft. & 1800 sft. Woodscape in Uttara, Dhaka. Apartment Size: 1200 sft. to 1400 sft 4.8 Conclusion Asset Developments & Holdings Ltd is committed to provide a quality living standard for the people. This commitment demands immense social responsibility of ensuring quality in terms

quantity, purity, stability, safety, efficacy and presentation of the product. At every stage of the production, a stringent control mechanism involving raw material testing, in-process quality control, finished product testing as well as stability monitoring and documentation is maintained to ensure the highest quality product consistently. ADHL is also committed to diversity in a working environment where there is mutual trust and respect and where everyone feels responsible for the performance and reputation of their company. The company recruits, employs and promotes employees on the sole basis of the qualifications and abilities needed for the work to be performed. They are committed to safe and healthy working conditions for all employees. They will not use any form of forced, compulsory or child labor. They are committed to working with employees to develop and enhance each individuals skills and capabilities. They respect the dignity of the individual and the right of employees to freedom of association. They maintain good communications with employees through company based information and consultation procedures. The company is always trying to improve its operation to get better output in terms of product design, customer service etc. It always follows the government policies, rules and regulations. Marketing Practices of the Company 5.1 Market Segmentation Marketing is the term applied to the processes of distributing goods from the producer to the ultimate user. Before a product is manufactured, the usual procedure is to study the potential market or customer demand in order to do the size planning which is necessary for the efficient operation of the enterprise. This segmentation is mainly based on the location, price of the land, and size of the apartments. ADHL's main focus is selling of the products and services as customer needs ie apartment which is being constructed in different areas. The purpose of ADHL's Marketing Research Wing is to determine, through the application of the scientific method, what to produce, who the potential buyers are, where those buyers are located, how much to produce, how to sell, and when to sell in order to maximize the service render and net profits earned. Market consists of buyers, and buyers differ in one or more ways. They may differ in their wants, resources, locations, buying attitudes and buying practices. For Market segmentation, ADHL divide large, heterogeneous markets into smaller segments like buyer of exclusive category product that located in Gulshan and Dhanmondi zone, premier category product in Niketon, Lalmatia and Midtown zone, standard category product in Utttara zone and others area and that can be reached more efficiently with products and services that match their unique needs. ADHL Apartments are segmented into 03 (three) groups: 1) Exclusive Category. 2) Premier Category.

3) Standard Category. Exclusive Category: All apartments in Gulshan M/T (GMT), Dhanmondi R/A (DRA), Banani M/T (BMT), Baridhara Society, Banani DOHS, Mohakhali DOHS, Baridhara DOHS. Premier Category: All apartments in Uttara selected Sectors like Sector-1, 3, 4, 5, 7 & 13( for S-13 lakeside only), Lalmatia, Mohammadpur, Indira Road, Niketon, Eskaton, Moghbazar, Elephant Road, West Dhanmondi. Standard Category: Other than Exclusive & Premier/General Segments. [Example: Apartments in Uttara, (Sector-5, 6, 9, 10, 11, 12, 13) and Old Town (Wari), Mid Town (Palton, Shantinagar etc) & Chittagong city] Table 5.1: Location wise ADHL Product category and its Features Sl # Finishing Materials Exclusive Zone/Apts Premier Zone/Apts General Zone/Apts [Material rate will be as per present PROC rate] Remarks 1 General Floor Tiles Chinese 24x24 Tk 90/sft Chinese 24x24 Tk 90/sft RAK 16X16 Code 7GPBG-100,/ 13,/ 15,/ B-1 This should be selected from new collection 2 CP Fittings Imported (GROHE/COTTO) Price Range [Tk.30000-35000 each Bath] Imported (COTTO) Price Range

[Tk. 25000-30000 each Bath] Local Best 3 Sanitary Wares Imported (COTTO/LAUFEN) Price Range [Tk.25000-35000] For all bath RAK Venice/Equivalent Price Range [Tk. 15000-20000] RAK Venice/Equivalent in Master Bath, RAK Orient / Huida/IMEX for 2nd & 3rd Bath 4 Accessories Porcelain Porcelain Porcelain in Master Bath & SS in Others Bath. 5 Main Door Shutter Green Marketing Price Range [Tk.40000-50000] Hatil Price Range [Tk. 20000-30000] Regular/General Standard Internal Door Shutter will be regular/ General 6 Main Door Frame Burma Teak

Price Range [Tk. 20000-25000 each] Ctg Teak Price Range [Tk. 10000-12000] Regular/General Internal Door Frame will be regular/ General 7 Locks Imported Price Range [Tk. 8000-10000 each for European origin] Imported Price Range [Tk.4000-5000 each] Local Price Range General 8 Switches & Sockets MK/ABB/Legrand Price Range [Best Quality] Preferably England MK/ABB/Legrand MK/ABB/Legrand Source: Report of Features and Amenities Selection Committee, April 2008 On the other hand buyers have unique needs and wants, each buyer is potentially a separate market. ADHL's sellers design a separate marketing program for each buyer. Often the company attempt to serve buyers individually and face larger numbers of smaller buyers and do not find complete segmentation. To understand segmentation properly a chart can make clear.

Segmentation in terms of different location, size of the apartment and different income level of people is shown in the following figure: Table 5.2: ADHL Apartment Size and Income Group SIZE OF APARTMENT (PER SQUARE FEET) INCOME GROUP OF PEOPLE Higher Income Level Middle Income Level 940 sft. 1175 sft. 1370 Sft 1485 sft 1645 sft. 1700 sft. 1800 sft. 1950 sft. 2250 sft. 2500 sft. 2550 sft. 2700 sft. 3300 sft. 3310 sft. Following table outlines the major variables for Asset Development & Holdings Ltd that might be used in segmenting consumer markets. Here it can be looked at the major geographic, demographic, psychographic and behavioral variables. GEOGRAPHIC Density : Urban and Suburban

City : Dhaka. DEMOGRAPHIC Age : No limitation. Family Live Cycle : Unmarried, Married and with or without children. Gender : Male and Female. Income Level : Higher or Middle higher or Middle Level. Occupation : Business persons, executives, doctors engineers, professors, officials and proprietors. Education : Educated. Religion : Muslim, Hindu and others. Nationality : Bangladeshis and Foreigners. PSYCHOGRAPHIC Social Class : Upper class, Upper middle class and Middle class. Life style : Comfort and stylish. Personality : Sociable. BEHAVIORAL Benefits : Quality, Service and Aesthetic value. User status : First time users and Potential users. Loyalty status : Strong. Attitude toward product : Positive and Hostile. 5.2 Target Markets Evaluating the segments that have been seen approximately 50 percentage of higher income level people are buying 1800 sft to 3310 sft apartment and approximately 43 percentage of middle-

income level of people are buying 940 sft to 1700 sft apartment. Another 7 percentage of both higher & middle-income levels of people are buying 1800 square feet of apartment. So ADHL should target and concentrate more on middle-income level of people. ADHL can charge a bit higher compare to competitors on these two particular segments. So profitability will be higher and the risk will be lower in serving these two particular segments. Table 5.3: Forecasting Market Potential Factors Importance Rationale Economic state : Highly important Apartment users are not taking properly. Since higher income and middle higher income group are the buyers, but there is a less demand for apartments. Government Policy : Highly Important For Real Estate business government rule is very important. Because it is a direct component for this sector. Political instability : Highly important Political instability has an indirect impact effect on them. Because the industrial activities suffers from hartals and strikes. Local competition : Highly important ADHL is facing stiff competition from local companies who have also realized that they need bigger chunk of market share in order to survive as the market is declining. Raw materials procurement : Moderate important Materials are procured carefully and only the reputed supply sources are enlisted. Environmental issue : Less important Environmental issues have an indirect impact on the Real Estate sector especially for ADHL. 5.3 Product Features and Quality Product Features:

The management is continuously developing products that will meet the needs and desire of potential customers, to improve present products and make them more acceptable than those of competitors, to simplify product lines by eliminating those which have a limited demand, therefore, unprofitable, to locate new users for the product and thus expand the market, to determine the method that will bring the best sales results, and to determine the proper price. For standard features and amenities ADHL should maintain the following things with their trademark: Door (main entrance door of solid wood with door chain, door frame with the best quality). Window (thai aluminum with tinted sliding glass and with flat bar grill). Bathroom (master bath, common bath and servant toilet). Kitchen (tiles in floor & wall, standard basin, all fittings are local standard quality). Floor (standard quality of floor with standard tiles). Others: Paint, Electrical facilities, Water meter, Generator, Night guard etc. In order to enhance the specifications of apartments many fixtures like sanitary wares, tiles, doors etc, are directly imported by ADHL. Asset Development & Holdings Ltd is one of the market leaders in the field of Real Estate Development and has an own identity and trademark company in Bangladesh. This company's logo named "ASEET DEVELOPMENTS" is a main product feature and competitive tool for differentiating the company's product from competitors' product. Product Quality: All planning work, programs and schedules, estimates and budgets, engineering design methods and procedures are aided by computerized information systems to achieve the highest standards of accuracy. It should be pointed out that the structural design parameters are based on American Concrete Institute CACI) and American Standards of Testing Materials (ASTM). Experienced engineers with local and international exposure are responsible for quality control of each and every apartment under Engineering Construction Department. Direct supervision is carried out by a team of experienced and qualified civil engineers to ensure the highest quality of workmanship. Systematic testing of concrete and other completed work samples are done at every stage from quality control laboratory. Comprehensive section by section checking and testing of steel reinforced structures is done by professional design and supervising engineers. We asked them about the suppliers and the quality of raw materials and after go through the answers, we found out that the materials are procured carefully and the reputed supply sources are enlisted. Site supervision and quality control procedures ensure that materials and workmanship is successfully scrutinized at different levels. Important materials are sample tested as also are all casting samples. For maintain product quality the company's principle is- "Give the customer value for his money".

Product Life-Cycle Stage: The product life-cycle (PLC) is a concept that describes the product class, product form or a brand. Asset Development & Holdings Ltd is in the maturity stage of the product life cycle. Because in the year 2003 to 2005 the sales increasing at 10% then the previous year and 2006 to 2007 year the sales increasing at a decreasing rate. The company is in the maturity stage because ADHL's target customers are higher income level people and the higher middle- income level of people and the company knows the price doesn't matter for their customers. Figure: Product Life-Cycle As ADHL is at its maturity stage of product life cycle (PLC), it needs to look after the following facts and issues. Here, the issues regard the necessary considerations of the common variables. STAGE CHARACTERISTICS Sales ....................................... Decreasingly increasing Sales Costs ...................................... Lower than usual cost per customer Profits .................................... High profits Customers ............................. Few early adopters and most middle maturity Competitions ........................ Stable number beginning to decline in some segments, increasing numbers in others. Marketing Objectives Overall Objectives ............................ Maximize profits while defending market size. Product .............................................. Diversify products and offerings Price ................................................. Price to match or best competitors Distribution ..................................... Build more intensive distribution (which ADHL is actually doing now, they are developing more and more complexes at different places) Advertising ..................................... Stress brand differences and benefits. Sales Advertisement ...................... Increase to encourage brand switching, so that

more customers of competitors can be grasped. 5.4 Pricing Policy and Strategy The underlying objective behind the pricing is increasing the share of the market. The demand for ADHL is the mature level of the PLC. So, the company needs to hold onto their present customers as well as attract new customers in order to remain profitable. To attract new customer the company undertake price-cutting to increase the demand. The selling rate of ADHL's apartment is in the mature level of product life cycle. But the question comes if ADHL reduce their price how it would be perceived by the customers? There is a possibility that customers will relate the price reduction with deteriorating product quality. In order to prevent this situation ADHL has to convince their customers that their price reduction results from a better utilization of the resources. This message would be conveyed to the customers through personal contact. The producers need to find out how much consumers are willing to pay for the benefits that ADHL provide with the apartments. The points that are considered in determining the price level of ADHL is the following: Construction Cost... ... (45% to 60%). Land Cost........... ... ... (35%) Overhead Cost... ... ... (5% to 7%). Expected Profit... ... . (8% to 12%). 5.5 Promotional Strategy: Companies must do more than make good products-they have to inform consumers about product benefits and carefully position products in consumers' minds. To do this, it must skillfully employ three mass-promotion tools in addition to personal selling, which targets specific buyers: sales promotion, advertising and public relations. Sales promotion: It includes both publicity & advertising and must be coordinated with the sales program of the company if it is to be most effective in assisting the sales force in selling the apartments. The purpose of publicity and advertising is to increase the acceptability of the company and its product by potential buyer and to create him a desire for the product. This desire and acceptability is more economically obtained through publicity and advertising than through direct sales contact. The company is doing this job to some extent by undertaking different programs like presenting calendars, coffee mags, wall clocks, diaries etc. Publicity: It consists of information about the company and its product that is printed in newspapers, books, and other publications or released to the public in other ways, without charge to the company because of the publicity's value as news, as an illustration, or in some other way. ADHL is doing this job by sponsoring different national and inter-national seminar, workshop related to housing issues.

Advertising: It may be defined as the means of disseminating information concerning the company and its product to the public at large, or a segment thereof, through various channels of communication, at the expenses of the advertiser, for the purpose of creating an interest in and desire for the products of the company. Large sums of money are spent in advertising especially in daily news papers. 5.6 Ten Steps to Customer Services Keeping customer satisfied is key to success and it doesn't matter if are selling products or services to external or internal customers. For improve customer satisfaction company performs the following ten activities. Understanding Make sure there is a thorough understanding of what customers really want. Use that information to follow up with actions and solutions. Access People want an ease of doing business. ADHL offer multiple communication methods (phone, web, or call center) and make sure the experience is speedy, efficient, and pleasant. Respect Customers want someone who understands and can respond to their needs. ADHL always acknowledge customers and treat them with respect to earn their trust and their business. Personalize People like to feel special. Sending specific, personalized messages will help eliminate some customer's feeling of insignificance, help connect with those people, and help form a bond with them. Streamline Offer processes that are streamlined and automated, but also have available guidance or confirmation at the end of the automated process to ensure that the customers issues, orders, etc., have been resolved or fulfilled. Always have an option to escalate issues to a customer service Department. Track Information Create a knowledge base so customers do not have to repeatedly give their contact, product, or problem details. Target

Use data to be proactive, but also use it for a targeted purpose. Do not try to sell the same widget or service to your entire customer base. Approach only those customers who are most likely to be interested. Empower Empower customer service department to resolve problems on the spot, including offering discounts or special services to retain customers who might otherwise head to a competitor. Easy Doing Business Find ways to make it so easy for customers to do business with you that switching to a competitor would be work for the customer. Interpret Need Note the difference between what customers say and do (customers say they want free shipping, but willingly pay for it with no complaints), and find ways to use that information so that everyone benefits. 5.7 After-Sale-Service Asset Development & Holdings Ltd always tries to serve the best quality, reliability in accurately. Responsiveness, which is the willingness to help customers and provide prompt service that is strictly maintained in the company. By hiring right (mainly theory X) kind of employee, ADHL ensures the mentioned jobs. Again, assurance is defined as employees knowledge and courtesy and the ability of the firms and its employees to inspire trust and confidence. This dimension is likely to be particularly important for services that the customer perceives as involving high risk and/ or about which they feel uncertain about the ability to evaluate outcomes. So it hires efficient employees. Then empathy is defined as the caring, individualized attention the firm provides to its customers. The essence of empathy is conveying through personalized or customized service that customers are unique and special. All customers want to feel understood by and important to firms that provide service to them. So empathy must be there. In fact, After- sale-service is very much important to achieve the goal of the organization. 5.8 Analysis of Customer Choice ADHL has been developing high quality residential complexes since 1999 in the growth and development of the Real Estate sector of Bangladesh. Housing is perceived differently now. It is no longer a necessity but rather a status symbol for the ambitious people. People are more conscious about the outlook of their living place as well as exterior and interior decoration. As a result there is an increased demand for renowned developers. The high-end market for apartments have, thus, become saturated and with this preference has come increased desire to make the places of abode look nicer and comfortable.

Houses are becoming a measurement of status symbol. People now try to make their residence nicer than that of their neighbors and friends. The drive is so intense that it has taken the form of competition. A nice looking house is a thing to be proud of and some people spare no means to make their residence look nice. People are more conscious about uniqueness and authenticity. They want their residence to be unique. The design has to be unique so that it is set apart from the others. People opt for exotic designs. With the advent of satellite television, people are more exposed to the life-styles of the people living in other countries. They are more exposed to world class living. Success lies in the ability to adapt with changing times. That is something that the company learnt over the past years. The company also learnt to anticipate that change and mould their services to meet the needs of their valuable clients. Thus ADHL proceed to build homes, introducing daring and innovative living concepts. For that ADHL believe that architecture can captivate the essence of time. Their monuments accordingly capture a particular a particular time frame and yet continue to be appreciated eternally. To each and every development and changes, they add that extra touch of magic which makes it home. Environmental protection is the burning discussion now-a days. People are becoming more and more conscious about the environment. They want environment friendlier means of production. ADHL uses production method that is environment friendly. As environment is becoming an emerging issue Asset Development & Holdings Ltd must look for new technologies and ideas which is fully environment friendly. ADHL gives you a totally secured living environment. Total project area is bounded by high wall, continuous trained security guards in the main gate. Outsider or guest is not allowed without facing the guards. Adequate light facilities in the project area at night. Thus ADHL's apartments are a place of total security, secured like a baby in mother's lap. Internal security Gate security Boundary wall security Guest entrance system To maintain a hygienic and clean environment, 'ADHL' has sufficient arrangements of regular cleaning service to ensure pollution free environment that is a crying need of Dhaka city dwellers. Regular garbage collection Regular garbage disposal Garbage hall with roof

Cleaning inside project area Cleaning inside building (stair, lobby, lift area, etc 5.9 Conclusion Marketing is essentially and integrated concept and its success constitute a whole lot of interdepartmental and intra-departmental activities. General administrative, finance, accounting-all these departments require unleashing a concerted effort along with the marketing department. So the most suitable approach of the marketing department of ADHL should be to ascertaining the understanding of this fact and entertaining the concept widely in the company. The company has segmented their apartments into 03 groups mainly considering the location of the projects like exclusive category, premier category and standard category. There is another conception of segmentation to know the buyer group that is based on apartment size and income group. The core benefits which is offered to the customer that is 'quality that really counts'. The company never compromise with the qualities. Composition of raw materials, design, color, shape and direct supervision is carried out by a team of experienced and qualified civil engineers ensure the best quality of ADHL. It has been observed that people who were very much conscious about quality in order to enhance the specifications of apartments many fixtures like sanitary wares, tiles, doors etc were directly imported by ADHL. The company believes quality products will be there because every thing is done under close supervision. Spectacular and innovative living concepts, daring architectural designs and exciting new features have been the rule of thumb in the design and development of every venture to give ADHL the leading edge. The pricing strategy should be consumer need-oriented or demand-oriented. That means they should first conduct research to find out the perceived value of the product by the consumers. The company always tries to create a favorable company image through public relation which is used to promote products, people, places, ideas and activities. The satisfaction level of ADHLs customers is good enough. But some customers have expressed their dissatisfaction about the ADHL in various aspects. It has a profound effect on the overall satisfaction level of ADHL. The quality of apartment that ADHL provide compared to other Real Estate Developer is better. For that reason ADHL has a strong good reputation. Its customers know that they provide the best quality apartments. ADHL is constantly working towards upgrading and improving every aspect of their activity. Their main focus is selling of the products and services. Analysis & Findings 6.1 Introduction

An interview session has been arranged with some management members to enrich the study. Being a conservative company, ADHL does not disclose any financial data or statement. Here some tables have been drawn based on interview to analyze the marketing activities of the company: Table 6.1: The Interview Schedule: Sl No Designation of the Interviewee Number of Interviewee 1 Assistant General Manager 3 2 Senior Manager 4 3 Manager 8 6.2 Market Segmentation ADHL does not concentrate on the construction of big apartment complexes rather concentrates on small one ie six storied residential building in 5 khata land. The company must intensify its focus on standard category product as the land area in exclusive and premier zone is declining though the company has been enjoying high return from the exclusive and premier category rather than standard category product since 2003. It can also dominate the market by constructing high rise building projects in standard category zone by anticipating new building construction rule Floor Area Ratio (FAR). Table 6.2: Market Segmentation of ADHL Product Year Standard Category Apt Premier Category Apt Exclusive Category Apt 2003 20% 40% 40% 2004 20% 30% 50% 2005 30% 20% 50% 2006 40% 20% 40% 2007 50% 30% 20% Source: The Sales Report of ADHL dated 4th March 2008 6.3 Pricing

The pricing trend of standard, premier and exclusive category product from 2003 to 2007 has been given in the Table 6.3. It is found from the above data that, the rate of sales increasing with decreasing rate. But the present practice of increasing price after 03 months interval, as to cater of declining the risk of irrational price hike, affects in the selling process by maintaining Customer Relationship Management as informed by the officials. It has also been said that the price of ADHL apartment is higher than the market rate. Table 6.3: Pricing Trend of different category products: Year Standard Category Apt (per sft) Increasing Rate Premier Category Apt (per sft) Increasing Rate Exclusive Category Apt (per sft) Increasing Rate 2003 1600 1800 2200 2004 1800 12.5% 2100 16.6% 3000 36.3% 2005 2000 11.1% 2500 19.0% 4000 33.3% 2006 2500 25.0% 3500 40.0% 5000 25.0% 2007 3000 20.0% 4500 28.5% 6500 30.0% Source: The Sales Report of ADHL dated 4th March 2008 Table 6.4: Sales Flow of ADHL Product: Year Number of Apartment Sales) 2003 60 2004 90 2005 180 2006 240 2007 270 Source: The Sales Report of ADHL dated 4th March 2008

6.4 A Comparative Scenario of ADHLs Market Growth There are around 200 enlisted companies in Real Estate Housing Association of Bangladesh (REHAB). ADHL is the market leader in the real sector in Bangladesh. The market share of ADHL is the highest since 2005 because the numbers of customers are increasing more rapidly than competitors. But in the present day the market of ADHL is reducing because of high competition and decreasing rate of customers growth. Table 6.5: Market Share of six storied residential building of leading companies including ADHL in 2003 & 2007: Company Name 2003 2007 ADHL 10% 19% Navana 7% 12% Rangs 11% 14% Advanced Developments 10% 8% BTI 12% 9% Concord Real Estate Ltd 8% 6% Others 42% 32% Source: The Sales Report of ADHL dated 4th March 2008 Table 6.6: Growth of Market Share of ADHL in 2003 to 2007: Year Market Share 2003 10% 2004 12% 2005 16% 2006 18% 2007 19% Source: The Sales Report of ADHL dated 4th March 2008

It is found from the above table that, the growth of market share is the highest on 2005 but it has started to decline in this year though still it has highest market share with a decrease rate. 6.5 Promotional Activities ADHL is not advertising their product on TV channel that is very essential to capture the market. Web based Advertising, lager show concept still not introduced in ADHL. 6.6 Customers Services Some problem exists in rendering quality service which may include the following: 1. Lack of proper inter-dept interaction. 2. Lack of training and development of the employees. 3. Inappropriate schedule of roaster duty. 4. Absence of initiatives to improve the working policy. 6. Lack of team spirit among the members. 6.7 Problems in Sales for Uncontrollable Factors It has been found that the Sales volume has been reduced due to Govt. Regulation on Transactions and intervention of government in real estate sector. Apartment sales also depend on flow of black money in the economy which has been declined recently. To find out the degree of the existing marketing related problems, the opinion of the senior management member has been asked for the sake of better recommendations. Table 6.7: Opinion of ADHL Officials over some marketing issues Marketing Issues Number of vote casted during interview Major Problem Minor Problem No Problem There is no advertising in TV media 6 7 2 There is no web-based advertising 7 5 3 Non-concentration of constructing high rise building 5 7 3 Lacks of computer based communication network for ensuring customer service 4 8 3 Present re-pricing policy after 03 months interval 6 7 2

Recent growth of market share with decreasing rate 6 5 4 Recent regulatory activities of Government specifically Anti-Corruption Commission 8 5 2 6.8 Conclusions It is found from this chapter that the number of projects in exclusive and premier zone is declining as in these locations vacant lands are almost occupied by six storied residential building. The customers who buy the apartments in exclusive & premier zone they are not concerned about the price of the apartment rather they are concern about location status. Consequently the return from these categories of product is higher than that of standard category of product. Now the company is building more apartment complexes of standard category though the return from this is not up to the expected level. In fact there production cost and others cost are almost same like that of exclusive and premier zone but selling price of standard category is significantly less than the selling price of exclusive and premier category product. To ensure the expected return, the company can build high rise building complexes like other companies. In case of building high rise complexes, production cost is less than that of low rise building and in that way the company can earn more profit. The management of the company fix the price of the apartment considering construction cost, land cost, overhead cost and expected profit though sometime it seems asking price of the apartment is psychological rather than real price. In last few years the price of the apartment has increased abruptly because sudden price hike of construction materials like tensile material-mild steel bar, binding material-cement, partition material-brick, timber; electrical fittings, sanitary wares etc. It has been informed during interview that, in this year the company has set up their policy to review the price after 03 months interval as to adjust the recent irregular inflation. But this policy is affecting the sales department in selling the apartment by maintaining relationship marketing. Once they informed a prospect about the price of the apartment where this is not sold out yet and after 03 months price increased. The prospect becomes wondered. It is also found that, the per sft price of the apartment in exclusive zone is approximate 40% higher than the per sft price of the apartment in premier zone and 90% higher than the standard zone. It is again to be noted here that the production cost in all zones is almost same. The market share of ADHL has been increasing since 2003. The rate market growth was higher in 2005. Then the market share starts to increase but with declining rate. It indicates the competitors like Rangs, Navana, BTI, Advanced Developments, Assurance etc are capturing the market with increasing rate. The company can undertake cost reduction plan to enhance the growth of its market share. The company has other marketing related problems like no-advertising in TV channel though its competitors nowadays immensely doing this by most of the TV channels of the country rather recent government aggressive regulatory measures impedes sales activities of the company.

Conclusions & Recommendations 7.1 Conclusions It is quite clear that providing shelter to all the people is one of the fundamental responsibilities of sate. But being a government of a poor developing country, it is almost impossible for the government to ensure housing for all. As the public sector failed to provide this, people have taken their own initiative to ensure their fundamental need for shelter. Government alone cannot provide housing to all and realizing this, they decided to share the task of providing safe decent places to live with Real Estate Developers, to make people a productive resource. The basic principle of the National Housing Policy is that the government would play the role of an enabler of facilitator in the housing sector (Article 4.2) and not the role of a developer of provider. So the government of the peoples republic of Bangladesh is somehow patronizing the real estate developers to contribute in the housing sector of Bangladesh. The size of the real estate sector and its contribution to the economy in terms of employment generation, accrual of investment, contribution to exchequer, output trends and linkage contribution of this sector are very significant as found from the preceding chapters. A good number of real estate companies are working under one umbrella association named Real Estate and Housing Association of Bangladesh abbreviated as REHAB. Almost 200 Companies are at present affiliated with this association. BTI took a leading role in the formation of the industry association and is one of the founder members of the REHAB. Asset Development & Holdings Ltd is one of the leading companies that rendering this service. The company has been applying High-Technology in constructing the complexes. To implement this high-technology it has technical expertise as well. The company has intensified its focus to maintain the better quality product. The weakness parameters of the company mainly encompass high overhead cost, less media uses for advertising, small area of expansion etc. The scope of present report does not cover all the factors and parameters for current marketing practices or activities of ADHL. The company believes in market diversification with maintain the market development. It is found from this report that the number of projects in exclusive and premier zone is declining as in these locations vacant lands are almost occupied by six storied residential building. The customers who buy the apartments in exclusive & premier zone they are not concerned about the price of the apartment rather they are concern about location status. Consequently the return from these categories of product is higher than that of standard category of product. Now the company is building more apartment complexes of standard category though the return from this is not up to the expected level. In fact there production cost and others cost are almost same like that of exclusive and premier zone but selling price of standard category is significantly less than the selling price of exclusive and premier category product. To ensure the expected return, the company can build high rise building complexes like other companies. In case of building high rise complexes, production cost is less than that of low rise building and in that way the company can earn more profit. The management of the company fix the price of the apartment considering construction cost, land cost, overhead cost and expected profit though sometime it seems asking price of the

apartment is psychological rather than real price. In last few years the price of the apartment has increased abruptly because sudden price hike of construction materials like tensile material-mild steel bar, binding material-cement, partition material-brick, timber; electrical fittings, sanitary wares etc. It has been informed during interview that, in this year the company has set up their policy to review the price after 03 months interval as to adjust the recent irregular inflation. But this policy is affecting the sales department in selling the apartment by maintaining relationship marketing. Once they informed a prospect about the price of the apartment where this is not sold out yet and after 03 months price increased. The prospect becomes wondered. It is also found that, the per sft price of the apartment in exclusive zone is approximate 40% higher than the per sft price of the apartment in premier zone and 90% higher than the standard zone. It is again to be noted here that the production cost in all zones is almost same. The report also shows that the market share of ADHL has been increasing since 2003. The rate of market growth was higher in 2005. Then the market share starts to increase but with declining rate. It indicates the competitors like Rangs, Navana, BTI, Advanced Developments, Assurance etc are capturing the market with increasing rate. The company can undertake cost reduction plan to enhance the growth of its market share. The company has other marketing related problems like no-advertising in TV channel though its competitors nowadays immensely doing this by most of the TV channels of the country. ADHL is poised to embark on challenging projects in the new millennium. Several joint venture projects are being negotiated with foreign companies for the lateral expansion of the metropolis. The company maintains quality level, product design and development, product feature, and the best one brand name. ADHL has some of the best planners, architects, engineers, financial experts and marketing professionals to deal with finding that have been appeared through this study. ADHL's product planners need to think about the product, which they have offered and services on three levels. The most basic level is the core product, which addresses the question, what the buyer is really buying .The next level of product is actual product; the planner must build it around the core product. This level includes quality, services, brand name, design and product feature. This is the level that ADHL should be concentrated more because they are not the market leader, they are the market challenger and in the product life cycle they are staying in maturity level. The maturity level is most important part for the company and under this part a company faces more number of competitors. So, for staying the maturity level ADHL should increase their promotional tools and quality of the product. The company needs more advertising from this viewpoint. They will select the media for advertisement, which they think convenient for them. The company does not give advertisement at television but some of their competitors give advertising at television. Finally, the product planner should build an augmented product around the core and actual products by offering additional consumer services and benefits.

7.2 Recommendations The recommendations for Asset Development & Holdings Ltd, based on the findings are as follow: 1. The Asset Developments & Holdings Ltd should concentrate on the construction of high-rise apartment complexes rather than the small one. If they go for high-rise apartment projects targeting low and middle-income group, they may comfortably stay in competition in relation to big operators. 2. The company wants to dominate the market by constructing major housing projects; they may raise funds by forming public limited company or may try to make joint ventures with international real estate operators. 3. ADHL should analyze the product through a questionnaire that, what way competitors' products are superior or inferior and will enable the product development engineers to design new or improved products that are more acceptable to customers. Present re-pricing policy after 03 months interval affecting the sales can be resolved by maintaining fixed price and considering case to case. 4. The training to be given to sales personnel as product knowledge is essential so that selling points can be developed. Knowledge of the potential customers, including their location and buying habits, is also helpful in selling. 5. The company can undertake the advertising program for advertising of their product in TV media as its competitors are doing this and can study the outcome. 6. ADHL can manage the accounts of an ISP for Web-Based Advertisement. By clicking to the links, potential accounts can get connected with the Web Page and come across to the products of ADHL. 7. In the dark at night the Laser show advertising ie laser beam can be undertaken for the campaign. It can attract all level of consumers with a prestige and status for the company. Though, it is expensive, but effective. 8. The company executives should be more caring to the customers speeches and opinions. 9. The company should establish sound and effective communication channels with internal customer through electronic mail. 10. Establish incentive policy for enhancing sales performance. 11. Use appropriate technology to help jobs easier, more productive, less redundant & repetitive. 12. Ensure the government policies, rules, regulations more carefully as to avoid any hassle related to RAJUK, ACC etc.

Marketing Practices of Asset Developments & Holdings Ltd (ADHL) Identifying the Respondent 1. Name : ............................................................................... 2. Position : ............................................................................... 3. Main Office : ............................................................................... 4. Contact Phone : ............................................................................... Company Orientation towards the Market Place 5. What is the main focus of the company? a. Production of services b. Products that you offer c. Selling of the products and services d. Marketing, that is judging customer needs and behaving accordingly e. Societal Marketing, that is social value addition through marketing 6. Why is that main focus? ............................................................................................................................................................ ............................................................................................................................................................ .................................... Market Oriented Strategic Planning 7. What is the mission or broad object of your company? ............................................................................................................................................................ ............................................................................................................................................................ .................................... 8. What levels of employees are responsible for planning the business? ..................................... ..................................... ...................................... .....................................

...................................... ........................................ 9. What are the different steps while considering the planning of the company? ..................................... ........................................ ..................................... ....................................... 10. Does the firm generate Marketing Report? Yes No If YES, then.... 11. What are the usual contents of that Report? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 12. How different projects are maintained? Centrally from a single department Separately from different respective departments If they are maintained separately, then.... 13. What are those projects and their departments? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... Analyzing Overall Market & Marketing Opportunity 14. Does the company maintain an Internal Record System to find out marketing problem? Yes No If YES, then...

15. What are the marketing issues that affect the sales of the company? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 16. Do the company perform any Research Project on your programs? Yes No If YES, then....... 17. What type of research you usually perform? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 18. Do you consider environmental scanning as a major and most valuable element? Yes No If YES, then...... 19. What are the factors and forces that determine business planning of ADHL? Demographic ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... Economic ..................................... ........................................ ..................................... ....................................... Technological

..................................... ........................................ ..................................... ....................................... Political-Legal ..................................... ........................................ ..................................... ....................................... Social-Cultural ..................................... ........................................ ..................................... .......................................... Competitive Environment 20. Who you think are the competitors of your business? ..................................... ........................................ ..................................... ....................................... 21. What are the external opportunities your business enjoys over your competitors? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 22. What are the external threats posed by your competitors? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 23. What internal benefits and strengths you have company wide? ..................................... ........................................ ..................................... .......................................

24. What are the weaknesses you identify in your business? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... Segmentation & Targeting 25. What are the bases of your market segmentation? ........................................ ..................................... ....................................... ..................................... ....................................... 26. What are the considerations the company plays while targeting the market? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... Managing Products & Services 27. What are the projects that youve sold so far? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 28. What are the other projects in hand? ..................................... ........................................

..................................... ....................................... ..................................... ....................................... 29. What are the services you provide along with the projects? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... Pricing Strategies 30. What are the points you consider in determining the price level of your offerings? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... 31. How do you define the price of your services? ..................................... ........................................ ..................................... ....................................... ..................................... ....................................... Bibliography Kamaluddin Sayed, Dhaka Dairy, New Age, Internet Edition, March 22, 2007. www.newagebd.com Kotler Philip, Marketing Management, Prentice Hall, India, 2000. Loudon, David, L. and Bita, A.J.D, Consumer Behavior, 4th edition, McGraw-Hill Book Co. Singapore, 1993.

Morgan, R., & Hunt, S, The commitment theory of relationship marketing, 1994. Peter J. Paul & Olson J. C., Consumer Behavior & Marketing Strategy, (5thedition), Irwin/McGraw-Hill, Singapore, 1999. The Sales Report of Asset Development & Holdings Ltd, Dhaka, 2008 Wells William, et al, Advertising (4th edition), Prentice Hall, USA, 1980. Web Site: www.ashiyancity.bd.com/history/realestate.asp, visited on 20th April 2008 Web Site: www.japangardencity.bd.com/apartmnet .mph visited on 25th April 2008

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