Chetana’s Institute of Management & Research, Bandra (E),

Mumbai

Understanding the change in marketing communication in

Real Estate sector with reference to Indiabulls

Industry Oriented Project

Submitted in partial fulfilment of the requirements for Post

Graduate Diploma in Management (PGDM) Academic Year:
2017-2018

Submitted By
Ajit Nayak
M2- 94(B)
PGDM, Batch: 2016-18
 Declaration

I hereby declare that this project report title “Understanding the change in marketing
communication in Real Estate sector with reference to Indiabulls” submitted in partial
fulfillment of the requirement of Post Graduate Diploma in Management to Chetana’s
Institute of Management and Research is my original work and not submitted for award of
any degree or diploma fellowship or for similar title or prize. References of work and related
sources of information have been duly acknowledged in the report.

The project has been carried out under the guidance of Dr. Hufrish Majra.

I further declare that I have no objection and grant the rights to Chetana’s Institute of
Management and Research to publish any chapter/project or use it for future reference if they
deem fit.

Place : Mumbai

Date :

Name : Ajit Kumar Nayak

Class : P.G.D.M. ; Batch 2016-18

Roll No. : 94(M2)

Signature :
 Certificate

This is to certify that the project titled “Understanding the change in marketing
communication in Real Estate sector with reference to Indiabulls”, submitted by AJIT
KUMAR NAYAK to Chetana’s Institute of Management & Research in partial
fulfillment of the requirement of Post Graduate Diploma in Management, has been done
under the guidance of the undersigned.

Date:

Place: Mumbai

Faculty Guide Dean

Dr. Hufrish Majra Dr.Sunita Srivastava

 TABLE OF CONTENTS

Page No.

Chapter 1 INTRODUCTION

1.1 Introduction to the real Estate Industry 01

1.2 Introduction to Indiabulls Real Estate 04
1.3 Introduction to the Topic 11

Chapter 2 Literature Review 13

Chapter 3 Research Methodology 16

Chapter 4 Data Analysis & Interpretation 18

Chapter 5 Findings 19

Chapter 6 Suggestions/ Recommendation & Limitation 27

Bibliography 29

Annexures 30
 CHAPTER 1

General Management

1.1) Introduction to the Industry (REAL ESTATE)

Introduction

The real estate sector is one of the most globally recognised sectors. In India, real estate is the
second largest employer after agriculture and is slated to grow at 30 per cent over the next
decade. The real estate sector comprises four sub sectors - housing, retail, hospitality, and
commercial. The growth of this sector is well complemented by the growth of the corporate
environment and the demand for office space as well as urban and semi-urban
accommodations. The construction industry ranks third among the 14 major sectors in terms
of direct, indirect and induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in
both the short term and the long term. Bengaluru is expected to be the most favoured property
investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and
Dehradun.
India's rank in the Global House Price Index has jumped 13* spots to reach the ninth position
among 55 international markets, on the back of increasing prices in mainstream residential
sector.

Market Size

The Indian real estate market is expected to touch US$ 180 billion by 2020. The housing
sector alone contributes 5-6 per cent to the country's Gross Domestic Product (GDP).
In the period FY2008-2020, the market size of this sector is expected to increase at a
Compound Annual Growth Rate (CAGR) of 11.2 per cent. Retail, hospitality and commercial
real estate are also growing significantly, providing the much-needed infrastructure for
India's growing needs.
Private equity and debt investments in India's real estate sector grew 12 per cent year-on-year
to US$ 4.18 billion across 79 transactions in 2017.# In 2017@, M&A US$ 3.26 billion worth
of deals have been made in India’s real estate sector. India is expected to witness an upward
rise in the number of real estate deals in 2018, on the back of policy changes that have made
the market more transparent. $
Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand
for office space in recent times. The office space absorption in 2017 across the top eight cities
amounted to 18 million square feet (msf) as of September 2017. Private equity inflows in

1
office and IT/ITES real estate have grown 150 per cent between 2014 and 2017 backed by a
strong attraction towards office sector. In 2017, new retail space of 6.4 million has finished
and supply of around 20 mn sq ft is expected in 2019.

Investments/Developments

The Indian real estate sector has witnessed high growth in recent times with the rise in
demand for office as well as residential spaces. Private equity investments in real estate are
estimated to grow to US$ 100 billion by 2026 with tier 1 and 2 cities being the prime
beneficiaries. ! India stood third in the US Green Building Council's (USGBC) ranking of the
top 10 countries for Leadership in Energy and Environmental Design (LEED) certified
buildings, with over 752 LEED-certified projects across 20.28 million gross square meters of
space. According to data released by Department of Industrial Policy and Promotion (DIPP),
the construction development sector in India has received Foreign Direct Investment (FDI)
equity inflows to the tune of US$ 24.66 billion in the period April 2000-September 2017.
Some of the major investments in this sector are as follows:

HDFC Capital Advisors Ltd has raised US$ 550 million for its second affordable
housing fund, HDFC Capital Affordable Real Estate Fund-2 (H-CARE-2), which will
invest in affordable and mid-income and residential projects across India.
KKR India Asset Finance Pvt Ltd has invested over US$ 500 million in residential
real estate projects in India in 2017, taking its total investments in real estate projects
in India to US$ 1 billion.
Allianz Group and Shapoorji Pallonji Group have partnered to start a real estate fund
named 'SPREF II' and will invest US$ 500 million in commercial office properties in
India.

Government Initiatives

The Government of India along with the governments of the respective states has taken
several initiatives to encourage the development in the sector. The Smart City Project, where
there is a plan to build 100 smart cities, is a prime opportunity for the real estate companies.
Below are some of the other major Government Initiatives:

As of November 2017, a total of 3.076 million houses have been sanctioned under the
Pradhan Mantri Awas Yojana (PMAY) (U) since its launch, according to the Ministry of
Housing and Urban Affairs, Government of India. The Ministry of Housing and Urban
Poverty Alleviation has sanctioned the construction of 84,460 more affordable houses for
urban poor in five states, namely West Bengal, Jharkhand, Punjab, Kerala

2
and Manipur under the Pradhan Mantri Awas Yojana (Urban) scheme with a total investment
of Rs 3,073 crore (US$ 460 million).

Road Ahead

The Securities and Exchange Board of India (SEBI) has given its approval for the Real Estate
Investment Trust (REIT) platform which will help in allowing all kinds of investors to invest
in the Indian real estate market. It would create an opportunity worth Rs 1.25 trillion (US$
19.65 billion) in the Indian market over the years. Responding to an increasingly well-
informed consumer base and, bearing in mind the aspect of globalisation, Indian real estate
developers have shifted gears and accepted fresh challenges. The most marked change has
been the shift from family owned businesses to that of professionally managed ones. Real
estate developers, in meeting the growing need for managing multiple projects across cities,
are also investing in centralised processes to source material and organise manpower and
hiring qualified professionals in areas like project management, architecture and engineering.
The growing flow of FDI into Indian real estate is encouraging increased transparency.
Developers, in order to attract funding, have revamped their accounting and management
systems to meet due diligence standards.

3
1.2) INTRODUCTION TO THE COMPANY (INDIABULLS)

Indiabulls is an Indian group with its Headquarters in Gurgaon and Corporate Office in
Mumbai. It has presence in sectors ranging from Real Estate, Infrastructure, Housing Finance
and Securities.

The Indiabulls Group is an Indian conglomerate headquartered in Gurgaon, India. It was

founded by Mr. Sameer Gehlaut (Chairman) in 1999, and operates in sectors spread across
housing finance, real estate & wealth management. The three main independently listed
companies of the group are Indiabulls Housing Finance Limited (IBHFL), Indiabulls Real
Estate Limited (IBREL), and Indiabulls Ventures Limited (IBVL).
The Indiabulls Group has a net worth of ₹153.32 billion (US$2.3 billion) as of 30 June 2015
and is one of the top dividend paying groups amongst the Indian listed promoter owned
group/companies.
In 2013, Indiabulls Financial Services reverse merged with its own subsidiary Indiabulls
Housing Finance to form the flagship company of the group.

Indiabulls Real Estate stands for excellence and luxury in residential and commercial
properties. It was incorporated in 2006 with its focus on construction and development of
residential, commercial and SEZ projects across major Indian metros. To grow its footprint
internationally, and to give wings to its global ambitions, Indiabulls branched out to London
a couple of years ago with some of the most marquee projects in the heart of upscale central
London.

It is the company’s mission to deliver value creating spaces, and its endeavours epitomise this
philosophy. It has delivered iconic commercial developments of over 3.3 million sq. ft. in
Mumbai namely – One Indiabulls Centre & Indiabulls Finance Centre and in the residential
segment – Indiabulls Sky, Mumbai and Greens Panvel, apart from delivering projects in
Gurugram, Chennai, Madurai, Ahmedabad and Thane.

4
Indiabulls Real Estate is one of the largest real estate company with a Gross Development
Value of INR 32,189 crores, and net worth of INR 5,480 crores as of June 30, 2017 and with
15 on-going projects with total saleable area of 33.91 million sq. ft. under its wing. Further it
has commercial development with a leasable area of 3.15 million sq.ft. under construction.
Additionally the company has a land bank of 1,046 acres and also possesses 2,588 acres of
SEZ land at Nasik, Maharashtra. In July of 2014, Indiabulls Real estate acquired the prime
property, 22 Hanover Square in Central London for Rs.1630 Cr.

RATINGS

IBREL has been assigned credit rating of AA- for long term debt, one of the highest in the
industry.

LISTINGS

All the group companies are independently listed on the Bombay Stock Exchange and the
National Stock Exchange. The combined market capitalization of the companies is ₹325.4
billion (US$5.0 billion) as of 6 August 2015.
Indiabulls Real Estate Limited’s GDR’s are also listed on the Luxembourg stock exchange.

OPERATIONS

Its headquarters are Indiabulls House, Gurgaon. Its corporate office is Indiabulls Finance
Centre, Elphinstone, Mumbai. It has a presence across India and representative offices in UK
[6]
and Dubai.

5
INDIABULLS HOUSING FINANCE LIMITED

Indiabulls Housing Finance (IBHFL) was incorporated in May’ 2005 as a subsidiary of

Indiabulls Financial Services Ltd., registered as a Housing Finance Company and regulated
by National Housing Bank. It provides Home loans and Loan against Property to individuals
and corporates for purchase/construction of residential property. IBHFL is the 2nd largest
private housing finance company in India by profits. The company has a loan book of
₹540.22 billion (US$8.3 billion). And it has cumulatively disbursed loans of over ₹1
trillion(US$15 billion) as of June 30, 2015. The company’s average ticket size for home
loans is ₹2.4 million (US$37,000) and average tenure is 15 years. The Company has the
highest long term credit rating of from CARE and Brickwork ratings and AA+ from CRISIL
and ICRA.

Indiabulls Real Estate Limited

Indiabulls Real Estate was incorporated in the year 2005 with the focus on construction and
development of residential, commercial & SEZ projects across major Indian Metros &
London. It is the 3rd largest real estate company in India by net worth and assets, with a total
Gross Development Value of ₹349.6 billion (US$5.4 billion) and net worth of ₹72.18 billion
(US$1.1 billion), as of June 30, 2015.

IBREL has presence in key Indian metros—Mumbai, Delhi and Chennai. Currently it has 10
ongoing projects in India with total saleable area of 30.14m sqft, and 5 new projects are
planned to be launched shortly with total saleable area of 7.87 m sqft. Additionally the
company has a fully paid for land bank of 1,017 acres & also possesses 2,588 acres of SEZ
land at Nashik, Maharashtra.
Indiabulls Real Estate has delivered two commercial towers in Mumbai—One Indiabulls
Centre & Indiabulls Financial Centre with over 3m sqft space, apart from delivering projects
in Madurai, Ahmedabad and Thane. Recently, Indiabulls Real estate acquired the prime
property, 22 Hanover Square in central London for ₹16.3 billion (US$250 million).

Indiabulls Ventures Limited

Indiabulls Ventures (formerly Indiabulls Securities) is an Indian Capital Markets company
providing securities broking and advisory services. It provides services like Securities
Broking, Advisory, Depository and Equity Research services and offers commodities trading
through a separate company. These services are provided both through on-line and off-line
distribution channels. Its in-house trading platform is called ‘Power Indiabulls’.Indiabulls
Ventures has been assigned the highest broker quality rating BQ-1 by CRISIL.

6
Social Responsibility

Indiabulls Foundation (Indiabulls Groups CSR Arm) was set up in January, 2010 to provide
an impetus to various social initiatives by Indiabulls Group. The foundation supports
inclusive growth in India through focused initiatives in the identified areas of Health,
Education, Sanitation, Nutrition, Disaster Relief and Sustainable Livelihoods.

Initiatives
Health:

1. JanSwasthya Kalyan Vahika™ vehicles: 13 Mobile medical vans provide free

primary healthcare services to nearly 4,00,000 patients every year.
2. Free medical clinics to provide primary and preventive health care to the
underprivileged.
3. Cleft deformity surgery for 1,200 children across 6 states in India in partnership with
Smile Train, an international children charity.
4. Free medical camps conducted for ashram schools and rural communities.
Education:

1. Adopted 31 ashram schools in different districts of Maharashtra and equipped it with

sophisticated e-learning methods to enhance the quality of education.
2. Awarded scholarships to 350 meritorious & deserving students to pursue their higher
education after 12th standard.
3. Tie-up with MKCL (Maharashtra Knowledge Corporation Ltd.) authorized computer
centers to help impart MSCIT courses to rural youth.
4. Children of ashram and adivasi schools in the Thane, Palghar and Raigad districts
given 10000 school bags.
Nutrition:

Free Paushtik Aahar (nutrition supplements) to 5,000 underprivileged malnourished

[25]
individuals every month, and regular monitoring of their health, weight and height.

Sanitation:

7
 Free sanitary napkins to promote hygiene and sanitation amongst rural women. 20,000
underprivileged and rural women are benefitted through this initiative.

Sustainable Livelihoods:
Support to ladies self-help groups to make its Paushtik Aahar (nutritional supplements) and
provide sustainable employment options for the underprivileged.

Rural Empowerment:
Sponsored a water project called ‘Rahat’ at 3 Tribal Ashram Schools where there was acute
scarcity of water. Over 2,300 children of these tribal schools keep benefitting from this
[22]
initiative.

Awards & Recognition

1. Indiabulls was conferred the status of a Business Superbrand by The Brand Council,
Superbrands India in 2008.
2. Indiabulls Housing Finance was awarded the Presidential Award for ‘The Fastest
Growing Company' by NAREDCO in 2014.
3. IBHFL was awarded "Best Employer Brand", June 2012 for its human resource
practice by The Institute of Public Enterprises.
4. Indiabulls Housing was awarded the Best HFC of the year, 2013 at ASSOCHAM
Real Estate Excellence Awards.
5. Indiabulls Real Estate project, Indiabulls Greens, Chennai won the Construction
Industry Award’ 2014 for excellence in Gated Community Projects.
6. Indiabulls Real Estate project, Indiabulls Golf City, Mumbai was awarded by
International Property Awards as the Best Golf Development in India for Asia Pacific
2015.
7. Indiabulls Real Estate commercial project, One Indiabulls Center, was awarded as the
Best Commercial Property at the Awaaz CRISIL CREDAI Real Estate Awards in
2009.

Indiabulls to buy out Fallaron Capital in its Singapore trust for $250 million
Indiabulls Real Estate is set to buy out the stake held by the American private investor
Farallon Capital in its Singapore-listed Indiabulls Properties Investment Trust (IPIT) for
about $250 million as part of a mutually agreed arrangement to facilitate exit for the
private equity partner as the business trust is no longer trading in Singapore bourses.

The transaction is aimed at facilitating a smooth sale of its commercial office rental arm to
the world’s largest private equity fund, Blackstone Group. IPIT controls significant stakes
in two marquee assets of Indiabulls in the country, including One Indiabulls Centre and

8
Indiabulls Finance Centre in suburban Mumbai.

Once completed, Indiabulls will own 100% equity in the Singaporean entity, which owns
stake in two large iconic business parks, which are being offered to Blackston.

ET reported on February 21 that Blackstone Group, the world’s largest private equity firm, is set
to buy a 49% stake in the office rental business of Indiabulls Real Estate in a $600-650 million
deal, valuing the entire portfolio at around $1.2 billion.“This deal will be a prelude to the
proposed rental arms deal with Blackstone. With both the transactions to be concluded by
March, the transaction with Fallaron will get concluded very soon,” said one of the sources.

Fallaron, the $21 billion US private equity fund, has made first exposure to Indiabulls way
back in 2006 by investing close to $200 million into the group holding entity. The fund
has made partial exits from group entities during the years. It has made seven investments
in Indiabulls entities and made an exposure of Rs 3,300 crore. Farallon's investments in
Indiabulls' real estate projects were the first ever foreign direct investments (FDIs) in the
realty sector in India.

Blackstone in talks to buy 49% in office rental business of Indiabulls in $600 million
deal
Blackstone Group, the world’s largest private equity firm, is set to buy a 49% stake in the
office rental business of Indiabulls Real Estate in a $600-650 million deal, valuing the entire
portfolio at around $1.2 billion, said people aware of the matter. Talks are said to be in the
final stages.

The transaction will include landmarks in Mumbai’s Lower Parel such as One Indiabulls
Centre and Indiabulls Finance Centre besides the One 09 building in Gurgaon and One
Indiabulls Park in Chennai, part of a trend of overseas investors picking up select
commercial properties in India.

The New York-based private equity fund, which is also one of the largest owners of
commercial real estate properties in India, is looking to add more assets to its portfolio
ahead of a planned real estate investment trust listing, multiple sources close to the
negotiations said. It acquired the Express Towers building at Nariman Point in 2014.

Blackstone declined to comment. Indiabulls Real EstateBSE -1.25 % didn’t respond to

queries. “The negotiations are reaching the final stages and a definitive agreement could be
signed before March 31,” said one of the people cited above.

DLF Cyber City has rent-yielding assets of 26.9 million square feet with annual rental
income of over Rs 2,500 crore. Indiabulls Real Estate’s annual rental income currently stands
at Rs 720 crore with a leasable area of 5 million sq ft, according to its FY17 annual report.

It has more than 200 marquee clients including Morgan Stanley, HSBC, Mondelez, WPP

9
Group, Aditya Birla Financial Services and others.

The company has four other office projects under development, which will take annual rental
income to Rs 1,357 crore, the report said. In Mumbai, other than Express Towers, Blackstone
also owns the 1.1million sq ft 247 Park, which it acquired from Hindustan ConstructionBSE
0.15 % Co. (HCC) in 2016 for Rs 1,050 crore but missed out on Hiranandani's Office
portfolio which Brookfield acquired for a billion dollars.

Founded in 2006, Indiabulls is the third-largest real estate company in India by net worth and
assets. The company’s gross development value stands at Rs 32,189 crore and net worth at Rs
5,480 crore on June 30, 2017, its website showed. It also has 15 ongoing projects with a total
saleable area of 33.91 million sq. ft., the website showed.

“The deal will be positive for Indiabulls as entry of large institutional investor like
Blackstone will definitely add a fillip to its future plans,” said Harish Sharma, CEO, Centrum
Real Estate Management Advisory. “The deal, if successful, will add further investment
interest in Indian commercial assets as large pension and sovereign funds are looking for
income generating quality properties.”

Indiabulls reported a 45.82% rise in consolidated net profit to Rs 85.35 crore in the
third quarter ended December from Rs 58.53 crore in the year-ago period.

Total revenue from sales rose to Rs 2,164.44 crore from Rs 492.90 crore. Net debt was Rs
4,205 crore at the end of the third quarter. Blackstone, the world’s biggest alternate asset
manager, is the largest institutional investor in Indian property to the tune of $2.7 billion.

It owns 31million sq ft across 18 operating office parks through about 20 companies in the
key markets of Noida, Mumbai, Pune and Bengaluru. It also has 11million sq ft of
commercial space under development across the country. These investments are separate
from its $6 billion private equity portfolio. “Indiabulls has marquee assets on its balance
sheet and pre-sales have been impressive, with the approval issues now largely behind it for
key projects,” JPMorgan analysts Saurabh Kumar and Deepik ..

“Despite being a relative newcomer, its execution has been much better than peers. Cash
flow generation is solid, with the company FCF-positive. We think the stock should see a
significant re-rating over the next few quarters as earnings scale up, narrowing the gap to fair
value.”

FCF is free cash flow. Shares in Indiabulls Real Estate surged 181% in the past year
compared with a 17.6% rise in the benchmark Sensex. It ended at s Rs 217.55, up 1.59%,
on Tuesday.

10
1.3) Introduction to the Topic
‘Perhaps no area of marketing has seen more dramatic change over the years than marketing
communication’ (Keller 2001). Numerous new marketing communication options are
available to marketers due to rapid globalization and the development of new technologies.
Furthermore this has led to the fragmentation of traditional advertising media as well as the
emergence of new, non-traditional media. Marketers must not only choose the proper tools
from this augmented toolbox, but also carefully integrate them in order to create maximum
communicative synergy. Marketers are under constant pressure to innovate, and the new-
media environment has created an extra domain for them to grapple with. All the while, they
strive for integration when there is no one-size-fits-all method of doing so. What great
integrated marketers have in common is a corporate commitment to view a marketing
challenge as a single, and then spend their resources where they will have the most effect.
Promotion is an important element of marketing mix. It is used to create images building the
brand towards the target customer for a company; it has ability to communicate with
consumers in a certain way in order to reach the desired result. (Belch & Belch) While
considering the promotional mix there come the elements or tools of promotional mix.
Advertising, Personal selling, Sales Promotion, Publicity/ public relations are the traditional
elements of promotional mix. In addition of the Direct Marketing, Interactive/Internet
Marketing gives the promotional mix a different dimension. Advertising and other forms of
promotion are an integral part of the marketing process in most organizations. Over the past
decade, the amount of money spent on advertising, sales promotion, direct marketing, and
other forms of marketing communication has increased tremendously all over the world. The
basic task of marketing is to combine the four controllable elements, known as the marketing
mix (4Ps), into a comprehensive program that facilitates exchange with a target market. The
elements of the marketing mix are the product or service, price, place (distribution), and
promotion. For many years, the promotional function in most companies was dominated by
mass-media advertising. However, more and more companies are recognizing the importance
of Integrated Marketing Communications (IMC), coordinating the various marketing and
promotional elements to achieve more efficient and effective communication programs. The
IMC movement is also being driven by changes in the ways companies market their products
and services. (Belch & Belch) During the 1980s, many companies came to see the need for
more of a strategic integration of their promotional tools. These firms began moving toward
the process of Integrated Marketing Communications (IMC), which involves coordinating the
various promotional elements and other marketing activities that communicate with a firm’s
customers. As marketers embraced the concept of integrated marketing communications, they
began asking their ad agencies to coordinate the use of a variety of promotional tools rather
than relying primarily on media advertising. A number of companies Chapter - 1 Introduction
3 also began to look beyond traditional advertising agencies and use other types of
promotional specialists to develop and implement various components of their promotional
plans. On the other hand, Real estate is a flourishing industry in India. Within a very short
span of time real estate has become one of the most lucrative businesses of the country. With
the growing economy, the demand for residential along with commercial constructions have
radically augmented. Over the last decade this sector has become extremely competitive.

11
Today, numerous registered real estate builders are continuously working towards changing
the urban landscape of India. A number of real estate companies are working under one
umbrella association named 'Real Estate and Housing Association of India' . About an 1100
companies are at present affiliated with this association, while several other companies are
working independently. One of the prime objectives of real estate firms is to keep their
customers satisfied, for which it is essential that they maintain a consistent service
performance by their workforce. And doing the job of Real Estate business the organizations
have used various tools and elements of the promotion. Traditionally most of the real estate
organizations use different promotional tools to convey their product towards the customers.
And the means of these conveying massage techniques are changing with the change of the
modern technologies. Now a days most of the key players in the real estate industry using the
Integrated Marketing Communication (IMC) for the promotional activities. This report is
mainly focus on the tools and techniques of IMC used by the Indiabulls Real Estate. And how
effective this tools and techniques for the company.

Gap in Previous Marketing Communication

It is apparently seems that, from the study, above mentioned, there was something missing in the
field of IMC. As IMC has emerged as one of the most influential part for the current world of
Marketing and at the same time Real Estate plays an important role in the economy of India. That’s
why it should have an essence to have a study regarding IMC on the Real Estate Industry, in the
context of Bangladesh. And, doing the job Indiabulls Real Estate may play a vital role, because CRPL
is one of the key players in Real Estate industry of India.

Objectives of the Study :

1) To understand the traditional & Modern Advertising strategies adopted by Real

Estate developers.
2) To compare the marketing communication effectiveness between leading
developers.
3) To provide an in depth analysis of best media type available for growing reality firms

12
 CHAPTER 2
LITERATURE REVIEW

This document outlines the various marketing processes and guidelines for a new
marketing campaign.

Introduction: A marketing campaign may be initiated due to launch of a new property,

sustenance campaign to boost the sales, introduction of a new customer offer or to
launch a thematic campaign. The process begins woth the making of a marketing plan
and ends with the campaign evaluation.

Guiding principles of Marketing Communications

1. The marketing plan should be aimed at meeting business objectives viz sale of
residential/ commercial properties. Building brand/ corporate reputation, improving
and retaining top box score(brand health metrices) for awareness, brand for me and
intention to purchase.
2. The marketing plan should maintain an optimal media mix keeping in mind the
communication objective, target audience and cities.

Process

Step 1: The marketing team prepares the creative brief in consultation with the regional
marketing team.

Step 2: the regional team along with the marketing team understands the product/ services
as well as the business objectives like target audience, sales targets, revenue expected and
prepares a marketing plan. The marketing plan also includes targeted objecitves of the
campaign like desired outcome of awareness.

Step 3: The marketing plan is approved by ED with the recommendation of VP Marketing,

and a budget is allocated for the campaign, in consultation with regional team.

Step 4: Marketing team send a copy of the approved marketing plan in the budgets to the
regional team.

Step 5: The processes for development of print, television, radio, sale collaterals, direct
mailers, emailers, digital and mobile etc. are initiated as per the marketing plan. The
subsequent sections in this document cover each of these processes.

Step 6: The Websites should be updated with all promotional schemes, commercial offers
etc for properties sale in compliance with legal norms and post legal approvals.

13
 Step 7: Once the execution is complete, an E-guard book is created for future reference.
This folder contains the marketing plan, the briefs, the creative, media plans, the budget
allocated, the tracking and evaluation sheets scuh as walk-ins to properties and calls to call
centers.

Print Communications

1. Corporate campaigns, new project launch with innovative features & USP of the
Project, in line with brand guidelines.
2. Campaigns should highlight call to action, key amenities etc and drive sale and build
consumer preferences for the Godrej Properties brand over time.
3. Region specific campaigns.
4. Tactical initiatives like promos, events etc.
5. Any promotional offer.

Radio Communication

1. Radio is gaining importance as a viable medium for advertising owning to :

a. Growing reach
b. Popularity
c. Cost effectiveness of the medium
d. Brand awareness in new cities
2. Thus, radio communication can be effectively used for tactical as well as strategic
communication in sync with television and print.
3. Choosing radio singularity for any communication may not deliver the desired output.
Thus radio will always be a secondary or a tertiary medium as a “reminder”
4. Radio communication can be effectively used for increasing the frequency of the
message and delivering repeated calls for action.

Digital Communication

Real estate marketing brings to mind vivid images of open houses with the aroma of freshly
baked cookies wafting through the air. While open houses (and baking aromas) are still
firmly entrenched in the real estate professional’s toolkit, their marketing arsenal has widened
to include tools that reach users in their new native environments- online.

14
Google Organic Search

So you have built the perfect website that flaunts all your listings, highlights your contact
details, and captures leads. But for users to see this beauty of a website that you built, they
have to first find it on the world wide web. With over one billion websites to choose from,
getting the right target audience to land on your websites is tall order indeed.

Social Media

Unlike what popular wisdom may suggest, social media is a fabulous place to promote your
real estate business. With social media’s unique ability to put you face to face with your
customers, social media marketing is a fantastic opportunity to build personal relationships
with users and gain their trust over time.

15
 CHAPTER 3
RESEARCH AND METHODOLOGY

Research can be defined as a scientific and systematic search for pertaining information on a
specific topic. We define research as a systematic design, collection, analysis and reporting of
data and findings relevant to a specific situations facing the company. The main aim of
research is to find out the truth which has not been discovering yet.

Type Of Research

Descriptive Research

Descriptive research is a study designed to depict the participants in an accurate way. The
three main ways to collect this information are: Observational, defined as a method of
viewing and recording the participants. Case study, defined as an in-depth study of an
individual or group of individuals.

Research Design

A survey research method was the basic research design. I interacted personally with people
through questionnaire filling method. Questionnaire is having questions regarding the
respondent’s basic information such as age, profession and what type of information they
want from real estate projects developer and governments, what type of documents they
check while buying or searching property.

Sample Plan

Study of the geographical area comprising of western, southern and central Mumbai were
undertaken. It has tried to cover professionals, businessmen, investors and serious buyers
from different backgrounds in these regions. Generally I met with the working class,
Professionals etc consisting of 100 people from Mumbai regions.

Sample size -83

Sample units:

Male and Female-83

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 Age: 35-50 years. This is the age group that falls under the category of the people
seriously thinking of another investment.
Sec: A & B- These particular social classes are very conscious about the standard of
living, health and lifestyle.
Profession: Business Class, Working Class, Professionals.
Income Group: Rs 1,00,000 & Above (Monthly Household Income) as this was the
suitable for the research. Hence this particular income group preference.
Sampling frame : Mumbai.

Sampling Technique:

Convenience and snowball sampling.

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 CHAPTER 4

DATA ANALYSIS & INTERPRETATION

1. Primary data are collected through questionnaire method which is design to keep in
view the objective of the study.
2. Secondary data is collected through internet sources, research papers and published
reports by various institutions.

Data analysis techniques:

Quantitative

Data analysis is important for any project because the raw is of no use. The data collected
through questionnaires will be arranges in a tabular form and presented graphically for the
purpose of effective study and in depth analysis and interpretation. Use of percentage, charts,
graph line etc. will be made for the study if necessary.

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 CHAPTER 5

FINDINGS

THE PEOPLE SURVEYED

PRIVATE GOVERNEMENT BUSINESS

3%

10%

87%

During the survey , I visited many government and private offices to meet with people who
can give me proper response of my questionnaire. Met with total 83 people out of which 10%
people are doing government services, 87% people are doing private services and 3% people
are doing business. Target was to meet service class people because they are educated and
they have capability of buying a house.

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 Are you satisfied from the real estate marketing
information provided by real estate companies
highly satisfied satisfied neutral dis- satisfied highly dis-satisfied
2% 4%

21%

43%

30%

With the help of above pie chart it is clear that majority (43%) of the people are satisfied and
very less proportion(2%) of people are highly dis- satisfied with the marketing information
provided by real estate companies. Many people who are satisfied with the marketing
information provided by developer, they were saying that real estate companies doesn’t want
to share each marketing details but also some real estate companies doesn’t want to hide any
marketing details provided by the real estate companies.

Reason are as follows:

Builders do not give complete marketing information in their brochure.

Marketing information provided by real estate developers is condition based.

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 The paper work is a bit different from that of the actual work.

Media source do you prefer while buying/

searching for a property
print digital tv & radio ooh references events & property exhib

9%
2%
11%
40%
1%

37%

The above tables shows that most of the people prefer print media(40%) and digital(37%) for
searching a property. And other sources like tv & Radio, outdoor advertising(ooh) are having
1%, 2%, 11% and 9% respectively.

Many people said that search of property through digital is very comfortable, because in a
single click they can reach to a number of builders and their projects. They also said that
mostly property web portal shows only marketing details of projects but if they will show
legal and technical documents of project, then searching property through internet will
become more beneficial.

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 which of the following neswpaper do you
read regularly?
TOI ET HT OTHERS

13%

12%
50%

25%

According to respondents:

Majority of them read Times of India followed by Economic times.

Since Times of India has a large audience worldwide and is one of the oldest
newspapers of India, it has a huge readership. It is followed by economic Times,
which is preferred by most of the businessmen and Entrepreneurs in India.

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 which are your preferable location in
Mumbai
western south central Navi Mumbai

10%

40%

35%

15%

Majority of people prefer western Mumbai as the location, followed by central Mumbai. The
choice of area depends on the connectivity and the facilities available to the people at a
particular project area.

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 What is your budget for buying a house
35

30

25

20

15

10

0
20-50 L 50-80L 80-100L 1-5 CR ABOVE 5 CR

Many respondents have a budget between 50- 80 L for buying home.

It is worthwhile to note that apart from this range, the budget range of 1- 5 cr is preferred
by 10% of respondents.

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 What is your buying purpose
INVESTMENT END USE

42%

58%

People buy a house for one of the two reasons, either to stay in it or invest in it to keep it as a
second home.

If the area has good connectivity, number of options for healthcare, entertainment & schools
within the vicinity, and descent people in the neighbourhood, people would rather choose to
stay there.

Areas such as south Mumbai and Western line, where property rates are increasing year on
year, people would rather choose to invest in that location to get future benefits and return.

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 CONCLUSION

Now a days customer have become more aware about what they should look for and
the information they should seek, and they are more concerned about the selection of
the right type of house for them. But majority of people are still unaware of the right
type of house for them. Hence I have collected the perception and analysed the
expectations of the general public as a whole.

The conclusion thus is that people need to be more aware of all the documents, the
total legalities, collect as much as information from the builders, and then only they
can do their investment with a free mind. Thus because of the above reasons there is a
need to create awareness among the customers as well as project developer to give the
customer the complete information and the role of “trusted property” to educate
people is appreciated in this regard by using appropriate Marketing communication
tool.

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 CHAPTER 6

SUGGESTIONS & RECOMMENDATIONS

Customers should check all the legal and technical documents and not only the marketing
details of the builders/project, before buying or searching house.

Customers should go through all the terms and conditions of the project developed.

Customer should be aware of the government’s policies related to “Real Estate”

Builders should show their legal and technical documents to the customers, to make them
satisfied because most of the customers want to check it and this also helps in creating a
unique identity of the developers.

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 LIMITATIONS

1. The sample was only of the people mentioned in the above category only from
Mumbai. The perception of people living in other parts may vary.

2. Some of the respondents could not give their proper response due to lack of time.
They at times tend to get biased and project a rosy picture which may affect the
reliability and relevance of the study.

3. It might also be so that some respondents were not motivated enough to respond
properly although full attempt was made to keep it as unbiased as possible.

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 BIBLIOGRAPHY

 Indiabulls.com

 Real estate articles- MCHI CREDIA

 www.ibef.org/industry/indian-real-estate-marketing-digital-age-stand

 Promotion and IMC- Richard J. Semenik

 Integrated advertisement – Kenneth E. Clow

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 ANNEXURE

Q - The people I surveyed

Government
Business
Pivate

Q. – Are you satisfied from the real Estate Marketing Information Provided by Real estate
companies ?

Highly satisfied
Satisfied
Neutral
Dis-satisfied
Highly Dis-satisfied

Q.- Which Media source do you prefer while buying/ searching for a property?

Print media
Digital
Tv & Radio
OOH
References
Events and property exhibition

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Q- Which of the following do you read regularly?

Times of India
Economic Times
Hindustan
Times Others

Q- Which are your preferable location?

Western Mumbai
South Mumbai
Central Mumbai
Navi Mumbai

Q- What is your budget for buying a home?

20-50 L
50-80 L
80-100 L
1 cr-5 cr
Above 5 cr.

Q- What is your Buying purpose?

Investment
End use (Personal)

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