PROJECT REPORT

ON
NEW PRODUCT LAUNCH IN DIGITAL SPACE FOR PUNE
REAL-ESTATE SECTOR





PREPARED BY:
HARSHITA GEMAWAT
BIMHRD
HRD1310171
INTRODUCTION OF THE
COMPANY

MANTRA MEDIA PVT.LTD.
Co-create value for our constituents on a sustainable basis and
make a positive difference."









Founded by: UDAY ZOKARKAR in December of 2008















Mantra Media is a Digital Business Consulting company that
provides end to end solutions leveraging.
1. Internet
2. Mobile media platform

Mantra Media deals in B2B market some of its clients are:

OBJECTIVE

PRIMARY RESEARCH OBJECTIVE (PROs)

To validate the working of my portal and also to find out errors &
rectify.

Analyze probable market conditions for the launch of new property
portal in real estate sector.


SECONDARY RESEARCH OBJECTIVES (SROS)

To analyze real estate sector with regard to digital space.

To carry out market study with different builders with the help of
questionnaire to interpret their response towards the new portal.

To determine the effect of current changes in real estate sector and to
overcome them.



RESEARCH AND METHODOLOGY
Data Source : Primary & Secondary Data
Sampling Units : Members of CREDAI
Research Instrument : Questionnaire
Sampling technique : Systematic Sampling
Contact Method : Personal/Direct
Sample Size : 16
1
st
PART OF PROJ ECT
To test the website and upload the project as
builders and brokers.(Objective: Primary
objective 1)
PRODUCT
mypuneproperty.in
Home page
Projects Uploaded into the portal


Testing of the portal
Working with super admin
MARKETING MODEL
POTERS 5 FORCE MODEL
There is no
rivalry among
existing
competitors, as
there are no
close
competitors

One of the most emerging sector
Less market barriers.
Less competition in small sector

The product is
customized and it is for
B2B sector, so the
buyers have bargaining
power
Currently the biggest threat is of
substitutes:
Newspapers
Headings
Also some big companies design
there own websites, they dont
outsource it.
Presently there are less
number of competitors
in small sector so
suppliers also have
bargaining power.
They develop unique
and customized
product.
2
nd
PART OF PROJ ECT
Objective: Primary objective 2
To conduct market analyses by using questionnaire
and interview technique.
To collect the relevant information from builders and
giving strategic and product recommendation to the
company.
DATA ANALYSIS USING SPSS
Secondary Objective 1
Problem 1:
TOPIC:
Relation between the number of years in real-estate sector and projects completed.
NULL HYPOTHESES:
Number of project completed is independent of number of years in real-estate sector

Chi-Square Tests

Value df Asymp. Sig. (2-sided)
Pearson Chi-Square 20.907
a
9 .013
Likelihood Ratio 21.711 9 .013
Linear-by-Linear Association 8.695 1 .013
N of Valid Cases 16


a. 16 cells (100.0%) have expected count less than 5. The minimum expected count is .38.
CONCLUSION:
The significance value in chi square test is .013 which is less than .05 so we reject
the null hypotheses .So we can conclude that since our null hypotheses is reject so
project completed is dependent on number of years completed in real-estate
business. Since the phi correlation coefficient, Cramers V and contingency
coefficient significance value is same, chi square test is valid.
Problem 2:
TOPIC:
Relationship between years completed in real-estate sector and builders attending virtual fair.
NULL HYPOTHESES:
Builders attending the virtual fair are independent of the years completed in real-estate sector.
Chi-Square Tests

Value df Asymp. Sig. (2-sided)
Pearson Chi-Square 3.751
a
3 .290
Likelihood Ratio 4.593 3 .290
Linear-by-Linear Association .244 1 .290
N of Valid Cases 16

a. 8 cells (100.0%) have expected count less than 5. The minimum expected count is .88.
CONCLUSION:
The significance value is more than .05 so we accept the null hypotheses. We can
conclude that since our null hypothesis is accepted so builders attending the virtual fair
are independent of the years completed in real-estate sector. Since the phi correlation
coefficient, Cramers V and contingency coefficient significance value is same, chi
square test is valid.

Problem 3:
TOPIC:
Relationship between projects completed in real-estate sector and builders attending the
virtual fair.
NULL HYPOTHESES:
Builders attending the virtual fair are independent of the project completed in real-estate
sector.

Chi-Square Tests

Value Df Asymp. Sig. (2-sided)
Pearson Chi-Square 7.486
a
3 .050
Likelihood Ratio 9.735 3 .050
Linear-by-Linear Association 5.174 1 .050
N of Valid Cases 16

a. 8 cells (100.0%) have expected count less than 5. The minimum expected count is 1.31.
CONCLUSION:
The significance value is .05 so we reject the null hypotheses .So we can conclude that since our
null hypotheses is reject so builders attending the virtual fair are dependent of the project
completed in real-estate sector. Since the phi correlation coefficient, Cramers V and
contingency coefficient significance value is same, chi square test is valid.
Problem 4:
TOPIC:
Relation between the number of projects completed in real-estate sector and expenditure
done by builders on E-Marketing.
NULL HYPOTHESES:
Expenditure done by the builders on E-Marketing is independent of the projects completed
in real-estate sector.

Chi-Square Tests

Value df Asymp. Sig. (2-sided)
Pearson Chi-Square 6.583
a
9 .013
Likelihood Ratio 7.790 9 .013
Linear-by-Linear Association .515 1 .013
N of Valid Cases 16


a. 16 cells (100.0%) have expected count less than 5. The minimum expected count is .25.
CONCLUSION:
The significance value is less than .05, we reject the null hypotheses .So we can conclude that
since our null hypotheses is reject so expenditure of builders on E-Marketing is dependent on the
number of projects completed. Since the phi correlation coefficient, Cramers V and contingency
coefficient significance value is same, chi square test is valid.
DATA ANALYSIS

12%
31%
13%
44%
Since how many years are you in real estate
business?
a. Less than 5 year
b. 6 - 10 years
c. 11 - 20years
d. More than 20 years
Weighted average = 14
years
More than 20 years
12%
19%
13%
56%
Number of projects completed till date

a. Less than 5
b. 6 - 10
c. 11 - 20
d. More than 20
More than 20 projects
Weighted average
= 21 projects
16
15
1
12
1
100%
94%
6%
75%
6%
a. News paper b. Hoadings c. TV d. E-Marketing e. Any other
Types of media used to attract potential
customers
No of the builder Percentage

a. Less than
50000
b. 60000 -
300000
c. 400000 -
1000000
d. 1000000
and above
Total
7 6 2
0
16
44%
38%
13%
0%
100%
Monthly spending on E-Marketing
No of the builder Percentage
Weighted average
=Rs. 166000
63% 56%
13%
38%
31%
10
9
2
6
5
a. magicbriks.com b. 99acres.com c. makan.com d.
indiaproperty.com
e. Any other
In which property portal you are registerd
Percentage No of the builder
No of the builder Percentage
8
50%
8
50%
16
100%
Have you participatedin any virtual/online
fairs?
a. Yes b. No Total
1
2
1
4
0
8
13%
25%
13%
50%
0%
100%
bad average good very good excellent Total
Rating of satisfaction level on the scale of 1 to 5 from
bad to excellent.
No of the builder Percentage
14
1
1
16
88%
6%
6%
100%
Are you interested in lead based /enquiry based
model?
a. Yes b. No c. Don't know Total
a. Mobile
b. Tab
c. Laptop/Computer
7
2
16
44%
13%
100%
The source you use to access the property portal

No of the builder Percentage
In which all areas of Pune would you like to invest?

FINDINGS

After analyzing all the primary and secondary data collected
through various means, the following observation can be drawn.

It was found that 44% of the developers are in this business for
more than 20 years, followed by 31% developers who are for 6
to10 years.

The average time for which the Real Estate developers are in
this business is 14 years.

9 developers have completed more than 20 projects which
corresponds to 56% of the sample size. It is followed by 3
developers between 6 to 10 completed projects.

Average number of projects completed by the developers is 21.


All the developers use more than 1 mode of advertising.
Newspapers are preferred mode (100%) followed by hoardings
(94%). TV has not been widely accepted as mode of advertising.

12 out of 16 respondents go for e-marketing to promote their
projects which corresponds to 75% of the sample. (Objective:
Secondary objective 1)

7 out of 16 i.e. 44% builders invest less than Rs.50000 monthly
on e-marketing followed by 38% invest between Rs.60000-
Rs.300000. (Objective: Secondary objective 1)

Average monthly expenditure of Real Estate Developers on e-
marketing is 166000 rupees. (Objective: Secondary objective 1)

Though all the developers opt for more than 1 property portals
for advertising, www.magicbricks.com is the most preferred
property portal by the developers (63%) followed by
www.99acres.com (56%). . (Objective: Secondary objective 2)






88% of the builders are interested in revenue lead based model.
( Objective: Secondary objective 2)

Personal Computers are the choice of device to 100% of the users
to access website while mobile (44%) is also an option for some
builders. Mobile app is not popular for accessing property portals.

8 developers have participated in the virtual property fair which
corresponds to 50% of the sample size.

Online/Virtual fair is a new concept. Majority of the people rate it
good on satisfaction level.

Mean score of satisfaction level is 3. The developers participated in
the virtual/online property fair are satisfied with the property fair.




.



CONCLUSION

The final outcome of the project is that mypuneproperty.in is
brilliant move by mantra media as we have seen that real estate
industry is booming day by day and there are many property portals in
digital space but none of them is specifically for the Pune market, in
such a situation launching a property portal specifically for Pune
market is a right decision.

As Mantra Media has organized real-estate virtual fair along with
CREDAI in past, so it has a fair experience of real-estate sector and
also has a good data base of the builders who attended the fair which
can be helpful in the launch of mypuneproperty.in.

With the launch of the portal, launch of mobile app is indispensable. It
will be convenient for both builders as well as customers. Even
though in current scenario most of the builders are using laptops and
computers for accessing the internet but still with the youth entering in
real-estate sector mobile app is a must.
RECOMMENDATIONS


Strategic Recommendation

As slightly less than half (44%) of the builders use mobile phone
to access property portals and also keeping the market of mobile
apps in the mind, mypuneproperty.in should come up with
mobile app to meet the requirement of builders.

Product Recommendations

1. Google map: Google Map can be installed for a quick view of the
areas of and around the project.

2. Price Trends: The current price trends of properties in various areas of
Pune should be provided to common users.

3. Lease: Along with the option of buy, sell and rent, option of lease
should also be provided to commercial customers.




5. Financing: Financial facility can also be provided to the customers
interested in buying of properties. This will also generate a brand name and
goodwill in the market.

6. NRI Option: A separate NRI section should be there for the sell and
purchase of properties as they are not aware of areas and price range.

7. Country Code: While registering in the portal names of many countries
are there and I have to select from them but while putting in mobile number
there is no option for country code which should be there.

8. Multiple mobile numbers: Should be able to give multiple mobile
numbers while registering and select on which number I want to receive
SMS alerts.




9. Landline number: Can give option for land line number during
registering.

10. Transgender: While registering in gender there is only option for
male and female but there should be option of 3rd gender
"Transgender" as Supreme Court recognized it as third gender.

11. EMI calculator: Can introduce home loan calculator for
calculating EMI.

12. Verification: There can be various verification stages before
getting registered for the security purpose, stages such as mobile
verification by sending OTP (One Time Password).
I will strongly recommend Mantra Media to
go ahead and launch the product in the digital
space as 88% of the builders are interested in
revenue lead based model.

KEY LEARNING
There is a large customer base for the revenue lead based
property portal.

Builders of Real estate sector in Pune use newspaper for
advertising of their projects even though e-marketing is
cheaper.

Virtual property fair is a new concept, and is gaining its
popularity amongst builders.









LIMITATIONS

a. It was observed that different builders answered differently to the
questions. Their answers varied, and analysis was made according to
that.

b. Time Constraints: As we had to understand the real estate sector and
analyze the different players of the same, we got 10 days time for the
research and market survey.

c. Inaccessibility: Appointments with the builders was difficult task.

d. Data limitation: The secondary data available was limited (200
builders where listed in CREDAI).

e. It was very difficult some time to meet with marketing head or the
owner of the company as they were not available in the city.

THANK YOU
ANY QUESTIONS?