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A

PROJECT REPORT
ON

“A STUDY ON CUSTOMER BUYING DECISION PROCESS


TOWARDS RESIDENTIAL PROPERTIES ”

AT
“SHIVSHAKTI PROMOTERS & BUILDERS”
Submitted to
SAVITRIBAI PHULE PUNE UNIVERSITY
In the Partial fulfillment of Masters in Business Administration

Submitted by
VIKAS ABHANGE

Under the Guidance of


PROF. JYOTI MESHRAM

JAYAWANTRAO SAWANT INSTITUTE OF MANAGEMENT &


RESEARCH
HADAPSAR PUNE – 28
2016-2017

1
A
PROJECT REPORT
ON

“A STUDY ON CUSTOMER BUYING DECISION PROCESS


TOWARDS RESIDENTIAL PROPERTIES ”

AT
“ SHIVSHAKTI PROMOTERS & BUILDERS ”
Submitted to
SAVITRIBAI PHULE PUNE UNIVERSITY

In the Partial fulfillment of Masters in Business Administration

Submitted by
VIKAS ABHANGE

Under the Guidance of


PROF. JYOTI MESHRAM

JAYAWANTRAO SAWANT INSTITUTE OF MANAGEMENT &


RESEARCH
HADAPSAR PUNE – 28
2016-2017

Acknowledgement
2
This began as the project semester of MBA programme; I would like to thank
Savitribai Phule Pune University and “JAYAWANTRAO SAWANT INSTITUTE
OF MANAGEMENT & RESEARCH” for giving me and opportunity to undertake
this project as a subject for practical fulfillment of MBA course

I would like to express my best acknowledgement towards our honorable

Director Dr Anita khatke mam for goving for valuable guidance inspection to

complete the project.

I am thankful to Prof. Jyoti Meshram for guiding and cooperating with me

throughout the project.

I am grateful for the inspiration and encouragement of many resource

people who help me bring this project into life. Thus the project has been a

learning experience and has helped me to understand practical aspects of life.

And last but not the least I would also like to thanks each and every person

who directly or indirectly supported or helped me to make this project a success

Vikas Abhange

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CONTENTS

Sr.No. Topic Page. No.


1 Executive Summary of Project 01-03
2 Objective Of The Study 04,05
2.1 Objectives 5
2.2 Scope Of The Study 06
2.3 Limitations 07
2.4 Need & Significance Of The Study 08
3 Company Profile 09
3.1 Introduction To Company 10-14
3.2 Branches & Offices 15
3.4 Products Range & Variety 16,17
3.5 List of Competitors 18
4 Theoretical Background 19-34
5 Research Methodology 35-38
6 Data Analysis and Interpretation 39-48
7 Findings 49-51
8 Conclusion 52
9 Recommendations 53,54
Annexure 55-58
Bibliography 69,60

Chapter 1

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Executive Summary

5
1. Executive Summary

This study is related to construction industry in India. Heightened realization

on the part of all stakeholders that infrastructure would play a key role towards

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

construction industry.

The industry is riding a growth wave, which is evident from the financial

results posted by some of the leading contractors. However, the industry is faced with

certain challenges. The need to be price competitive, adherence to safety, quality

consciousness, adapting to technological changes, developing and using new

construction materials and having an adequately trained manpower are issues that

industry must look into and address.

"The construction sector, therefore, has to gear up fully to take on the ever-

increasing challenge."

This study was basically concern with consumer buying behaviour towards

residential properties in Pune city with reference to Shivshakti promoters & builders

The basic objective behind carrying this study was to study the property purchasing

behaviour i.e. (Residential) of different types of customer in different area in Pune

city, to study the various factors affecting the customer-buying pattern especially in

case of residential properties and to search out new prospects for Shivshakti

promoters & builders After completing this study it was found that maximum

respondents are having the resident on rental, it was also found that price & location is

major factor which are consider by the customer at the time of purchasing the

residential property. The ‘quality’ & ‘facilities’ are most considerable parameters at

the time of selecting residential property. It was also found that demand of the 2 & 3

BHK flats were more to comparing other types of residential properties.

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After going through this study I would recommend Shivshakti promoters &

builders that they should try to decrease Five star amenities with a view to cut down

the property prices and there by attracting the middle class, and also actively

participate and organize property exhibition, trade shows, hoardings, etc. to create

awareness in the market. They should reduce the maintenance charges and should

concentrate on CRM activities, such as loyalty to create strong good will and gain

new customer.

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Chapter 2

Objectives of the Study

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2.1 OBJECTIVES

 To study the property purchasing behaviour i.e. (Residential) of different

types of customer in different area in Pune city.

 To study the various factors affecting the customer-buying pattern

especially in case of Residential properties.

 To find the expectations & needs of customers from Shivshakti promoters

& builders properties

 To find the opinion of the customers with regard to various schemes

available or schemes offered by Shivshakti promoters & builders

constructions.

 To find out the near competitors for Shivshakti promoters & builders

Constructions.

 To find out the period in which the customers are more willing to purchase

Residential properties.

 To search out new prospects for Shivshakti promoters & builders

Construction.

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2.2 SCOPE

This study will be beneficial to Shivshakti promoters & builders Constructions

to know about customers buying behaviour towards Residential properties in Pune

city. The company can come to know various factors affecting the customers’

properties buying behaviour.

Company comes to know about customers expectations & need for future

properties purchases. The sample size taken for this project is 100 Respondents.

Hence, this market study will provide information to Company, and

Customers.

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2.3 LIMITATIONS

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

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

3) Rainy season was main hurdle for this survey.

4) The response from the respondents was fair enough but not up to the mark or

good enough.

5) This project was only restricted to the residential properties of Shivshakti

promoters & builders & not commercials & others.

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

transportation problem.

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2.4 NEED & SIGNIFICANCE

The study conducted is Pune city reflects the market position of Shivshakti

promoters & builders Residential Properties. It gives us the details of various factors

of buying behavior of customers. The study enables the company to prepare

marketing strategy and plan accordingly, so as to capture a greater market share& the

services provided by the company. It foresight the future requirement of the market

and thus helps the manufacturer to face the future completion in a fully prepared way.

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

success.

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Chapter 3

Company Profile

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3.1 INTRODUCTION TO COMPANY

‘’ SHIV SHAKTI GROUP’' was established in the year 1986.SHIV SHAKTI

GROUP is the largest Dealership of ceramic/vitrified tiles in Pune.SHIV SHAKATI

GROUP is specialized in high-quality Ceramic wall and floor tiles and sanitary ware.

We are the company that has been on the forefront of innovation in home decor.SHIV

SHAKTI GROUP is growing Company in Marble & granite, Enterprises, Transport

,lodging, Builder and promoter. In more than last 40 years, the Organization has

grown from strength to strength striving hard to transform that vision into reality.

Today the company's name has become synonymous with the quality Construction

business in Pune.

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Certificate for Quality Management System Standards maintained by the

company for design, development, construction & marketing of Residential and

Commercial complexes.

Shivshakti group has become synonymous with quality construction in Pune.

The company is known for maintaining international quality construction standards

and also for its ethics, transparency, reliability, professionalism and reflexivity.

The Shivshakti Builders Institution boasts of a concrete record of more than 25

completed projects, over 40 Lakhs Sq.Ft. completed construction and 3,000 satisfied

customers. The 15 ongoing residential and commercial projects and successful

diversification into corporate ventures bear testimony to the success story of

Shivshakti Builders.

Quality Policy:

Shivshakti Builders are committed to design, develop, construct and market

Residential, Commercial complexes and all such types of shelters, which shall meet

customer need consistently. We shall further strive to enhance the interest of our

partners, employees, suppliers & society.

Quality Objectives:

1. Demonstrate commitment and compliance to the Quality Management

System.

2. Improve the competence of employees by continuous training in the areas in

which they work.

3. To be a market leader by enhancing the customer satisfaction.

4. To create a customer focused organization.

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Aims:

"Quality is primary" to shivshakti Builders. All systems and procedures are

formulated to achieve the "Quality Objective". Total quality principles are adopted in

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

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

Management' in all the aspects of its business.

Values:

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

knowledgeable and insightful. Project the eminent & nurture the learned.

 Be humble and grateful for any gesture, however small

 With plentiful resources, guard against mismanagement and waste.

 Do not use the force but work through. Conciliation, appreciation and

inspiration.

 Maintain your position through growth and expansion, which requires effort.

 Practice five strategies of action: Alliance, Patience, Optimum Utilization of

Resources, Nurturing of human assets and Aggressiveness.

 Plan for the acquisition of wealth with the eyes of crane, employ a variety of

postures like peacock, strike with the ferocity of a boar and display the velour

of a lion.

 Offer your gratitude to God.

Human Resources:

Shivshakti Builders is professionally managed and a significant force in an

intensely competitive market. This is because we treat our employees with respect and

dignity. We believe the growth of the Group is dependant on the growth of our people.

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

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efficiency in implementation and an enormous professional satisfaction. We have men

of mission who can face challenging opportunities with finesse and purpose. The open

door policy and informal and vibrant atmosphere is an achievement in itself.

Technology:

In the context of technological advances, the Shivshakti Builders is in the

forefront in implementing State-Of-The-Art Technology with the latest systems /

Networking techniques. These assists management to access information and establish

proper checks and controls over the business transactions. Continuous technological

up gradation helps the Group keep up with time.

Social Obligation:

The group believes in repaying its debt to society and does so in many

different ways. After realizing the grave need for shelter it has initiated the task of

development of slums. Various projects for beautification, Water Fountains, Schools,

and Developments of Gardens, large roadside plantations, drinking water and public

toilets facilities have been taken up. On a more macro level, the group has contributed

its mite towards promoting sports development, besides lending a helping hand to

many charitable institutions.

 Slum development

 Drinking Water program

 Helping in building better public toilet facility

 Environment cleanliness and beautification

 Creating gardens

 Sports

 Schools and Hospitals

 Tree Plantations.

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After Sales:

Kumar Builders strive hard and are committed to provide all such type of

services related to pre & post booking activities in order to enhance customer

satisfaction.

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

correspondences required an ensure them to handover timely possession.

It is our endeavor to sort out all the complaints / queries before and after sales

to achieve maximum customer satisfaction.

Financial Assistance:

 ICICI Bank

 Standard Charted Bank

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3.2 BRANCHES & OFFICES

Pune Head Office:

Papde Wasti Tukai Tekadi, Hadapsar, Pune - 411028

Tel. : 8805021616 /8805697878

E-mail : blueberrypune1@gmail.com

3.4 PRODUCTS RANGE & VARIETY

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Residential Projects

Commercial Projects

Future Projects

Completed Projects

Shivshakti Residential Projects

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Blueberry

3.6 LIST OF COMPETITORS


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Mantri Builders Bramha Builders

Fergusson College Road 205/251, M.G. Road

(Mantri House) Shop # 929, Parvati,

Deccan Gymkhana, Pune 411009

Pune 411004Phone: (20) 25661040 Phone: (20) 26330052


Panchshil Real Estate Consultant Rohan Builders (I) Private Limited

Bund Garden Road 813, Bhandarkar Road

(Konar Estate) (Pradeep Chambers)

Pune H.O., Deccan Gymkhana,

Pune 411001Phone: (20) 26127366 Pune 411004Phone: (20) 25674413


Paranjape Schemes Constructions Nyati Builders Private Limited

Anand Colony, Erandwane Kalyani Nagar

(PSC House) (Nyati Commerce House)

Deccan Gymkhana, Yerwada,

Pune 411004Phone: (20) 30223344 Pune 411006Phone: (20) 26686123


D.S. Kulkarni Developers Limited K Raheja Private Ltd.,

1187/60, Jangali Maharaj Road Survey No. 144 & 145,

(DSK House) Samrat Ashok Path, Off. Airport Road,

Shivajinagar H.O., Yerwada, Pune – 411 006

Pune 411005Phone: (20) 56047100 Tel: +91 020 26112859

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Chapter 4

Theoretical Background

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4. THEORETICAL BACKGROUND OF BUYING BEHAVIORS

 Definition of Buying Behaviour:

Buying Behavior is the decision processes and acts of people involved in

buying and using products.

The dynamic interaction of affect and cognition, behaviour, and the

environment by which human beings conduct the exchange aspects of their lives

 Meaning of Consumer Behaviour:

Consumer behaviour can be looked upon as a study of how individuals make

decisions on how to spend their available resources like time, money and effort on

various consumption-related items.

Human beings are greatly influenced in their buying actions by various factors

like opinions of others, marketing stimuli like product, advertising, packaging and

product appearance

 Scope of Consumer Buying Behaviour

 Why do consumers buy a particular product/service brand?

 How do they buy them?

 Where do they buy these products?

 How often do they buy them?

 When do they buy them?

 What factors influence the decision making process of the consumers?

 The buying process involves the user, influencer, decider, and the buyer

 The process is greatly affected by selective information received by a

consumer

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 It is very important to understand what and how much information is

required by the consumer to help him evaluate the products and services

 As such understanding why a consumer finally buys a product is very

complex

 Importance Of Consumer Behaviour

 Ever increasing intensity of competition

 More aggressive competitors emerging with greater frequency

 Changing bases of competition

 Geographic sources of competition are becoming wider

 Niche attacks are becoming frequent

 Pace of innovation is rapid

 Price competition becoming more aggressive

 Product differentiation is declining

 Why Focus On Consumer Behaviour

 Profit making through customer satisfaction

 Dramatic increase in the quality of consumer and

marketing research

 Development of consumer behaviour research

 Shifting from the mass marketing concept to individual

marketing concept.

 Characteristics Of Consumer Behaviour

Consumer behaviour is dynamic:

 The feelings, thinking, perceptions, and actions

of the consumers and the society at large keep changing frequently.

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 Strategies that work today may not work

tomorrow.

 The product life cycles are becoming shorter.

 Benefits of Consumer Behaviour

 Stay loyal for a long time

 Buy new products and upgrade existing ones

 Talk favourably about the firm and its products

 Pay less attention to competing brands

 Offer product/service ideas to the firm

 Are cost effective

 Approaches To Consumer Behaviour

Managerial:

 Micro and cognitive in nature

 Emphasizes on attitudes, perceptions, lifestyle and demographic

characteristics

 Environmental effects-reference groups, family and culture

 Risk of this approach is overemphasis on rationality of a consumer and

overlooks

 the dynamics of environmental factors independent of the individual

 Tends to focus more on purchase than on consumption

Holistic:

 More macro in approach

 Tends to focus more on consumption experience than on purchasing

process

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 Stresses the broader, culturally derived context of consumption

 Emphasizes on environmental context of the consumer’s actions

 This approach may not be actionable and all decisions are not rational.

 Need To Understand Consumer Buying Behaviour:

 Why consumers make the purchases that they make?

 What factors influence consumer purchases?

 The changing factors in our society.

 Consumer Buying Behavior refers to the buying behavior of the

ultimate consumer. A firm needs to analyze buying behavior for:

 Buyers reactions to a firms marketing strategy has a

great impact on the firms success.

 The marketing concept stresses that a firm should create

a Marketing Mix (MM) that satisfies (gives utility to) customers,

therefore need to analyze the what, where, when and how

consumers buy.

 Marketers can better predict how consumers will

respond to marketing strategies.

 Stages of Consumer Buying Process:

Six Stages to the Consumer Buying Decision Process (For complex decisions).

Actual purchasing is only one stage of the process. Not all decision processes lead to a

purchase. All consumer decisions do not always include all 6 stages, determined by

the degree of complexity.

The 6 stages are:

1. Problem Recognition(awareness of need)--difference between the desired

state and the actual condition. Deficit in assortment of products. Hunger--

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Food. Hunger stimulates your need to eat.

Can be stimulated by the marketer through product information--did not know

you were deficient? I.E., see a commercial for a new pair of shoes, stimulates

your recognition that you need a new pair of shoes.

2. Information search--

 Internal search, memory.

 External search if you need more information. Friends

and relatives (word of mouth). Marketer dominated sources;

comparison shopping; public sources etc.

A successful information search leaves a buyer with possible alternatives, the

evoked set. Hungry, want to go out and eat, evoked set is

 Chinese food

 Indian food

 Burger king

 Klondike Kates etc

3. Evaluation of Alternatives--need to establish criteria for evaluation, features

the buyer wants or does not want. Rank/weight alternatives or resume search.

May decide that you want to eat something spicy, indian gets highest rank etc.

If not satisfied with your choice then return to the search phase. Can you think

of another restaurant? Look in the yellow pages etc. Information from

different sources may be treated differently. Marketers try to influence by

"framing" alternatives.

4. Purchase decision--Choose buying alternative, includes product, package,

store, method of purchase etc.

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

availability.

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

Cognitive Dissonance, have you made the right decision. This can be reduced

by warranties, after sales communication etc.

After eating an indian meal, may think that really you wanted a chinese meal

instead.

 Types Of Consumer Buying Behaviour:

Types of consumer buying behavior are determined by:

 Level of Involvement in purchase decision. Importance and intensity of

interest in a product in a particular situation.

 Buyers level of involvement determines why he/she is motivated to seek

information about a certain products and brands but virtually ignores

others.

High involvement purchases--Honda Motorbike, high priced goods, products visible

to others, and the higher the risk the higher the involvement. Types of risk:

 Personal risk

 Social risk

 Economic risk

The four type of consumer buying behavior are:

 Routine Response/Programmed Behavior--buying low involvement

frequently purchased low cost items; need very little search and decision

effort; purchased almost automatically. Examples include soft drinks,

snack foods, milk etc.

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 Limited Decision Making--buying product occasionally. When you

need to obtain information about unfamiliar brand in a familiar product

category, perhaps. Requires a moderate amount of time for information

gathering. Examples include Clothes--know product class but not the

brand.

 Extensive Decision Making/Complex high involvement,

unfamiliar, expensive and/or infrequently bought products. High degree of

economic/performance/psychological risk. Examples include cars, homes,

computers, education. Spend a lot of time seeking information and

deciding.

Information from the companies MM; friends and relatives, store

personnel etc. Go through all six stages of the buying process.

 Impulse buying, no conscious planning.

The purchase of the same product does not always elicit the same Buying Behavior.

Product can shift from one category to the next.

For example:

Going out for dinner for one person may be extensive decision making (for someone

that does not go out often at all), but limited decision making for someone else. The

reason for the dinner, whether it is an anniversary celebration, or a meal with a couple

of friends will also determine the extent of the decision making.

 Categories That Effect The Consumer Buying Decision Process

A consumer, making a purchase decision will be affected by the following

three factors:

1. Personal

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2. Psychological

3. Social

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

for its target market.

1. Personal

Unique to a particular person. Demographic Factors. Sex, Race, Age etc.

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

things for different reasons than older people.

2. Psychological factors

Psychological factors include:

 Motives--

A motive is an internal energizing force that orients a person's

activities toward satisfying a need or achieving a goal.

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

motives then they can better develop a marketing mix.

MASLOW hierarchy of needs!!

o Physiological

o Safety

o Love and Belonging

o Esteem

o Self Actualization

Need to determine what level of the hierarchy the consumers are at to

determine what motivates their purchases.

 Perception--

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What do you see? Perception is the process of selecting, organizing

and interpreting information inputs to produce meaning. IE we chose what

info we pay attention to, organize it and interpret it.

Information inputs are the sensations received through sight, taste, hearing,

smell and touch.

Selective Exposure-select inputs to be exposed to our awareness. More likely

if it is linked to an event, satisfies current needs, intensity of input changes.

Selective Distortion-Changing/twisting current received information,

inconsistent with beliefs.

Advertisers that use comparative advertisements, have to be very careful that

consumers do not distort the facts and perceive that the advertisement was for

the competitor.

Selective Retention-Remember inputs that support beliefs, forgets those that

don't.

 Ability and Knowledge--

Need to understand individual’s capacity to learn. Learning, changes in

a person's behavior caused by information and experience. Therefore to

change consumers' behavior about your product, need to give them new

information re: product...free sample etc.

Knowledge is the familiarity with the product and expertise.

Inexperience buyers often use prices as an indicator of quality more than those

who have knowledge of a product.

Learning is the process through which a relatively permanent change in

behavior results from the consequences of past behavior.

 Attitudes--

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Knowledge and positive and negative feelings about an object or

activity-maybe tangible or intangible, living or non- living.....Drive

perceptions Individual learns attitudes through experience and interaction with

other people.

Consumer attitudes toward a firm and its products greatly influence the

success or failure of the firm's marketing strategy.

Attitudes and attitude change are influenced by consumers personality

and lifestyle.

Consumers screen information that conflicts with their attitudes.

Distort information to make it consistent and selectively retain information

that reinforces our attitudes. IE brand loyalty.

There is a difference between attitude and intention to buy (ability to

buy).

 Personality--

All the internal traits and behaviors that make a person unique,

uniqueness arrives from a person's heredity and personal experience.

Examples include:

 Work holism

 Compulsiveness

 Self confidence

 Friendliness

 Adaptability

 Ambitiousness

 Dogmatism

 Authoritarianism

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 Introversion

 Extroversion

 Aggressiveness

 Competitiveness.

Traits effect the way people behave. Marketers try to match the store image to

the perceived image of their customers.

There is a weak association between personality and Buying Behavior; this

may be due to unreliable measures.

 Lifestyles--

Recent US trends in lifestyles are a shift towards personal

independence and individualism and a preference for a healthy, natural

lifestyle. Lifestyles are the consistent patterns people follow in their lives.

3. Social Factors

Consumer wants, learning, motives etc. are influenced by opinion leaders,

person's family, reference groups, social class and culture.

 Opinion leaders--

Spokespeople etc. Marketers try to attract opinion leaders...they actually use (p

y) spokespeople to market their products. Michael Jordon (Nike, McDonalds,

Gatorade etc.) Can be risky...Michael Jackson...OJ Simpson...Chevy Chase

 Roles and Family Influences--

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

position within a group.

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People have many roles. Husband, father, employer/ee. Individuals

role are continuing to change therefore marketers must continue to update

information.

Family is the most basic group a person belongs to. Marketers must

understand:

 that many family decisions are made by the family unit

 consumer behavior starts in the family unit

 family roles and preferences are the model for children's future family

(can reject/alter/etc)

 family buying decisions are a mixture of family interactions and

individual decision making

 Family acts an interpreter of social and cultural values for the

individual.

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

consumer demands:

 Bachelor stage.

 newly married, young, no children...me

 full nest I, youngest child under 6

 full nest II, youngest child 6 or over

 full nest III, older married couples with dependant children

 empty nest I, older married couples with no children living with them,

head in labor force

 empty nest II, older married couples, no children living at home, head

retired

 solitary survivor, in labor force

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 solitary survivor, retired

 Modernized life cycle includes divorced and no children.

 Reference Groups--

Individual identifies with the group to the extent that he takes on many

of the values, attitudes or behaviors of the group members.

Families, friends, sororities, civic and professional organizations. Any group

that has a positive or negative influence on a persons attitude and behavior.

Membership groups (belong to)

Affinity marketing is focused on the desires of consumers that belong to

reference groups. Marketers get the groups to approve the product and

communicate that approval to its members. Credit Cards etc.

Aspiration groups (want to belong to)

Disassociate groups (do not want to belong to)

 Social Class—

An open group of individuals who have similar social rank. US is not a

classless society. US criteria; occupation, education, income, wealth, race,

ethnic groups and possessions.

Social class influences many aspects of our lives. IE upper middle class

Americans prefer luxury cars Mercedes.

 Upper Americans-upper-upper class, .3%, inherited wealth, aristocratic

names.

 Lower-upper class, 1.2%, newer social elite, from current professionals

and corporate elite

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 Upper-middle class, 12.5%, college graduates, managers and

professionals

 Middle Americans-middle class, 32%, average pay white collar

workers and blue collar friends

 Working class, 38%, average pay blue collar workers

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

 Lower-lower class, 7%, on welfare

Social class determines to some extent, the types, quality, quantity of products that a

person buys or uses. Lower class people tend to stay close to home when shopping, do

not engage in much pre-purchase information gathering. Stores project definite class

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

consumer behavior. All operate within a larger culture.

 Culture and Sub-culture--

Culture refers to the set of values, ideas, and attitudes that are accepted

by a homogenous group of people and transmitted to the next generation.

Culture also determines what is acceptable with product advertising. Culture

determines what people wear, eat, reside and travel. Cultural values in the US

are good health, education, individualism and freedom. In american culture

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

international marketing.

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Chapter 5

Research Methodology

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5. RESEARCH METHODOLOGY

What is Research?

The following eight characteristics of research will serve us well in defining meaning

of research.

Eight characteristics of research:

1. Research originates with a question or a problem.

2. Research requires a clear articulation of a goal.

3. Research follows a specific plan of procedure.

4. Research usually divides the principal problem into more manageable sub-

problems.

5. Research is guided by the specific research problem, question, or hypothesis.

6. Research accepts certain critical assumptions. These assumptions are

underlying theories or ideas about how the world works.

7. Research requires the collection and interpretation of data in attempting to

resolve the problem that initiated the research.

8. Research is, by its nature, cyclical; or more exactly, spiral or helical.

 This project is concern with Survey Research:

Survey research is one of the most important areas of measurement in applied

social research. The broad area of survey research encompasses any measurement

procedures that involve asking questions of respondents. A "survey" can be anything

form a short paper-and-pencil feedback form to an intensive one-on-one in-depth

interview.

39
 Survey Method: -

Survey research method is technique of investigation by direct

observation/respondent or by systematic gathering of data from population.

Advantages of Survey Method:-

1) Inferences based on facts.

2) Personal Contracts with respondents.

3) Instrument of social development.

4) Greater objectivity.

5) More reliability of the data.

 Questionnaire: -

Questionnaire is used to collect information from respondent. In this study

questionnaire content both close ended & open-ended questionnaire.

Sample size is100 respondents which are further calculated in percentage and

shown graphically in various charts.

Respondents as sample unit.

 Non-Random Judgment Sampling

Non-probability sampling is that procedure which does not afford any basis

for estimating the probability that each item in the population has of being included in

the sample.

40
 For this project Primary as well as Secondary data is use.

 Primary Data:

Information collected for first time is called as Primary Data & is in the

original character. Primary data collected either through observation or through direct

communication with respondents in one form or another or through personal

interviews.

Primary data is collected through the survey method with help of

questionnaire.

 Secondary Data:

Secondary data means data which already been collected and analyzed by someone

else. Secondary data collected from books, Internet & magazines.

 Research Design:-

Research design is the guideline, which help the researcher to get the required

information from the respondents within the specific time limit,

41
Chapter 6

Data Analysis
and
Interpretation

42
6. DATA ANALYSIS

1) Table showing present type of Residential Ownership.

Type No. of Respondents % of Respondents


Ownership 36 36%
On Rental 49 49%
Others 15 15%
Total 100 100%

The above table shows that, maximum no. of respondents stays on rental basis

i.e.49%, 36% of the respondents have their ownership on residence and 15% of

respondents are in others category, which include residence on lease or staying at

relative.

2) Table showing areas preferred to purchase residential properties.

43
Area No. of Respondents % of Respondents
peth Area 11 11%
Kalyani Nagar 19 !9 %
Hadapsar 23 23%
Kondwa 26 26%
Katraj 07 07%
Baner 05 05%
Pashan 09 09%
Total 100 100%

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

area, whereas 23% of respondents preferred Hadapsar area, while 19% of respondents

prefer Kalyani Nagar area, whereas 09% of respondents preferred Pashan area while

07% of respondents preferred Katraj area and 05% of respondents preferred Baner

area for purchasing residential properties.

3) Table Showing Factors taken into consideration while purchasing Residential

properties.

Factors No. of Respondents % of Respondents


Location 28 28%
Price 39 39%
Transportation Facility 16 16%
Accessibility to Market 07 07%
Others 10 10%
Total 100 100%
44
The above table shows that maximum no. of respondents i.e. 39% consider Price,

whereas 28% consider location while 16% consider transportation facility whereas

10% consider other factors like Vastushastra, Water availability etc. and 07% of

respondents consider accessibility to market as important factor for purchasing

residential properties.

4) Table showing Parameters considers while selecting residential properties.

Parameters No. of Respondents


Brand Name 53
Quality 62
Space (Sq. ft.) 49
Facilities 73
Interior 30
Schemes 57

45
The above table shows that maximum no. of respondents i.e. 73 consider Facilities as

parameter while 62 respondents consider Quality, whereas 57 of respondents consider

Schemes whereas 53 respondents consider Brand name while 49 respondents consider

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

residential properties.

5) Table showing sources of Information for respondents while Property

Purchasing.

Sources No. of Respondents % of Respondents


Hoardings 13 13%
Newspapers 17 17%
Agents/Consultants 33 33%
Relatives/Friends 28 28%
Others 09 09%
Total 100 100%

46
Above table shows that 33% of respondents get their information from Agents

/Consultants, where as 28% of respondents get information from Relatives/ Friends

while 17% of respondents get information from Newspapers whereas 13% of

respondents get information from Hoardings and 09% of respondents get their

information through Other Sources like Local News Channel,Radio,Internet etc. for

Purchasing Residential Properties.

6) Table showing awareness in respondents about various schemes offered by

shivshakti builders.

Awareness No. of Respondents % of Respondents


Yes 67 67%
No 33 33%
Total 100 100%

47
The above table shows that maximum no. of respondents i.e. 67% were aware about

the various schemes offered by whereas 33% of respondents were not aware about

various schemes offered by shivshakti builders

7) Table showing duration of the year when normally respondents like to

purchases residential properties.

Month No. of Respondents % of Respondents


Jan to Apr 35 35%
May to Aug 13 13%
Sept to Dec 52 52%
Total 100 100%

48
Above table shows that maximum no. of respondents i.e. 52% would prefer Sept to

Dec as the duration where as 35% respondents would prefer Jan to Apr while 13% of

respondents prefer May to Aug as the duration of the year where they would like to

purchase residential properties.

8) Table showing type of Residential property respondents would like Purchase.

Type No. of Respondents % of Respondents


1 BHK Flat 18 18%
2 BHK Flat 48 48%
3 BHK Flat 24 24%
Bungalow/Row house 04 04%
Others 06 06%
Total 100 100 %

49
Above table shows that maximum no. of respondents that is 48% would like to

purchase 2 BHK Flat, whereas 24% respondents prefer 3 BHK Flat, while 18%

respondents prefer 1BHK Flat whereas 4% of respondents prefer Bungalow/Row

house and 06% respondents prefer others which include Duplex, Terrace Flat,

Attached Flat etc. for purchases of residential property.

9) Table showing mode of purchases of residential property preferred by

respondents.

Mode No. of Respondents % of Respondents


Home Loans 57 57%
Lum-sum 06 06%
Installments 33 33%
Others 04 04%
Total 100 100%

50
Above table shows that maximum no. of respondents i.e.57% would prefer Home

Loans whereas 33% of respondents would prefer Installments while 06% of

respondents would prefer Lum-sum and 04% of respondents prefer Others.

51
Chapter 7

Findings

52
7. FINDINGS

1) During the time of survey, it was found that 49% respondents are having the

resident on rental, 36% respondents are having own property & 15% respondents

are having other sources such as lease, relatives & friends etc.

2) It was found that 26% of respondents were preferred to purchase residential

property in Kondwa area, 23% of respondents in Hadapsar & 19%, 11%, 9%, 7%

people in Kalyani Nagar, Peth area, Pashan Nagar, Katraj area respectively, only

5% respondents were preferred in Baner area.

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

customer at the time of purchasing the residential property. Here 39%

respondents are considering the price, 28% respondents are consider location &

16% & 7% respondents are considering transportation & market facility.

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

the time of selecting residential property. Brand Name & schemes are also

consider the consumer at the time of purchasing the residential property.

5) It was found that the source of information for consumers the real estate

consultant play very vital role. 33% respondents go through the consultants, 28%

53
respondents prefer relatives & friends, 17% go through newspapers & 22%

respondents prefer through hoarding & others sources.

6) It was found 67% respondents were aware of various schemes offered by KBC &

33% respondents were not aware. Here the most of the respondent’s opinions

about schemes of KBC’s are good.

7) In the duration of September to December the most of the respondents were like

to purchase the residential property because most of the festival are in this

duration. Here 52% respondents preferred in September to December, 35%

respondents preferred in January to April & 13% respondents preferred in May &

August.

8) It was found that demand of the 2 & 3 BHK flats were more as comparing to

other types. 48% respondents prefer 2 BHK flat, 24% respondents prefer 3 BHK

& 18% & 4% respondents choose the 1 BHK & Bungalow respectively. Here

6% respondents go through the other type such as Duplex flat, Gallery or Terries

& 1 HK flat.

9) In the mode of payments 57% respondents go through home loans of various

banks & private financial institutes, 33% respondents go through installments,

6% respondents through lum sum amount & 4% respondents choose other mode

of payments.

54
10) It was found that the close competition of KBC were Vascon, Bramha Builders &

Nyati Builders which were mostly known by the respondents.

55
Chapter 8

Conclusion

56
9. CONCLUSION

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

 Quality is considering lot while purchasing residential property.

 The Kumar Builders stands first among three top companies in Pune city.

 The Buyers consider Quality and price while purchasing the residential

property.

 The customer may change the Brand if the Particular brand is not available

and also because of close substitute.

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

 Adverting and other sales promotion tools have a great effect on sales of the

residential property.

57
Chapter 9

Recommendations

58
9. RECOMMENDATIONS

1. Shivshakti builders should try to tap other market potentials, such as

Kholapur, Surat Ahmedabad and 2nd tire cities.

2. Shivshakti builders should try to decrease Five star amenities with a

view to cut down the property prices and there by attracting the middle class.

3. Shivshakti builders should actively participate and organize property

exhibition, trade shows, hoardings, etc. to create awareness in the market.

4. Shivshakti builders should organize annual customer meet to

appreciate those customer who have been with them and awarded them.

5. Shivshakti builders should take mass media such as television more

precisely cable media to target local customers.

6. Shivshakti builders should also concentrate more on interior decoration

to compete with other competitors.

7. Shivshakti builders should reduce the maintenance charges.

8. Shivshakti builders should also concentrate on CRM activities, such as

loyalty to create strong good will and gain new customer.

59
Annexure

60
ANNEXURE

Questionnaire

“A STUDY ON CUSTOMER BUYING DECISION PROCESS

TOWARDS RESIDENTIAL PROPERTIES”

WITH SPECIAL REFERENCE TO SHIVSHAKTI BUILDERSS

Personal Details

NAME:-

OCCUPATION :-

GENDER:-

FAMILY SIZE :-

CONTACT :

E-MAIL:-

NO. OF EARNING MEMBERS:-

ANNUAL INCOME:

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

 Yes  No

2. What is your present type of property?

 Ownership On rental  Others

3. In which area would you prefer to purchase residential properties? Why?

 Peth area  Hadapsar  Pashan  Baner

 Kalyani nagar Katraj  Kondwa

61
4. Which factor do you take in to consideration while purchasing residential

properties? (Choose any one)

 Location  Price

 Transportation facility  Accessibility to market

 Others ___________________________________________

5. Which parameters do you take in to consideration while selecting a residential

property? (Allow to multiple choice)

 Brand Name  Quality

 Space (sq. ft)  Facilities

 Interiors  Schemes

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

(Open ended)

____________________________________________

____________________________________________

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

(choose any one)

 Hoarding  Newspapers

 Agent  Relatives

 Others

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

 Yes  No

62
If yes what is your opinion,

 Very Good  Good  Average

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

properties?

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

10. What type of residential property you would like to purchases?

 1BHK Flat 2BHK Flat

 3BHK Flat  Bungalows/Row House

 Others

11. What will be your mode of purchase of residential property?

 Home Loans  Lum sum

 Installments  Others

__________

Signature

63
Bibliography

64
BIBLIOGRAPHY

Books referred

Title : - Marketing Management

Name of the Author : - Philip Kotler

Title : - Marketing Research

Name of the Author : - Thomas C Kinnear

Title : - Consumer Buying decision process

Name of the Author : - J. Paul Peter

Title : - Research Methodology

Name of the Author : - Dr. S. Shajahan

Other sources:-

1) News Paper

2) Magazines

3) Internet websites

Webliography Referred :

a) www.google.com

b) www.marketingprofessors.com

c) www.indiatimes.com

d) www.blueberrybuilders.com

65

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