Student Declaration Me, Shah Kalimullah hereby declare that the presented report of internship titled is Marketing strategy

of SEL is uniquely prepared by me after completion of three months work in SEL. My original work is submitted to Northern University Bangladesh, and no part of the report has been submitted for any other degree, or fellowship & the work has not been published in any journal or magazine

Supervisor Declaration This is to certify that the title of internship report is Marketing strategy of SEL. This report is submitted in partial fulfillment of requirement for the degree of BBA program of ADUST.He is Shah Kalimullah ID: 081-294-031 was my under supervision &guidance & no part of this report has been submitted for the part of other degree, diploma or fellowship & the work has not published is any paper, journal or magazine

Letter of Transmittal 10th January 2012 Shawkat Tanveer Rahman Lecturer School of Business ADUST Subject: Submission of internship report on is Marketing strategy of SEL Dear Sir, With due respect, I would submit my internship report on is Marketing strategy of SEL. I have collected information as possible from the management of SEL. Three months work in this real estate company was a worthwhile experience for me as it was in such a reputed organization. I believe that the internship program has enriched both my knowledge & experience. If you have further queries regarding the report, please let me know. Sincerely Yours Shah Kalimullah ID: 081-294-031 Major in Marketing Department of Business ADUST

Acknowledgement First, all praises go to the Almighty Allah, the most gracious, the most merciful, the most kind & generous to man & his action. This internship report is on Marketing strategy of SEL. For preparing this report Im grateful to my organizations supervisor Sanaullah Sunny, Manager, Marketing. He helped me a lot though the time of work by giving his tender hand time to time. I would like to convey my sincere gratitude to my university supervisor. Shawkat Tanveer Rahman Lecturer School of Business Department of Business Administration, Atish Dipankar University of Science & Technology. Without his guidance & assistance the report would not have been seen & light of day. Finally, my deep gratitude goes in favor of my university for getting library, lab facilities & my teachers to enrich my knowledge, which helps me in different stages to complete this report . Sincerely Yours Shah Kalimullah ID: 081-294-031 Major in Marketing Department of Business ADUST

EXEUCTIVE SUMMARY

Apartment marketing in Dhaka city is relatively a new business. The real estate sector Bangladesh is growing at a 3.8% since 1992.The huge financial resources and physical difficulty in building and effective barriers to entry. About half of the total projects (44% to 51%) surveyed located at Dhanmoni, Gulshan, Baridhara and Banani. Companies face competition in price, quality, goodwill, time efficiency selling procedure and obviously form the viewpoint of location of the project. About 20% of the completed projects.40% of the projects under construction and 40% of the future projects are between 1500-2000 sift in size. 80% of the respondents recognize the changing societal concerns attitudes and life style as the most important driving forces in the industry. It has been reported that 85% of the companies followed mark up policy in determining price while 5% of the companies pricing policy were based on competitors pricing and 10% of the companies followed a pricing method according to convenience. Newspaper advertising and hoarding are the most common and frequent tool of promotion. Dependable service and customer credibility are identified as the most important key success factors. SEL should try to win the race for industry leadership by employment bold creative entrepreneurial strategy because emerging apartment industry has no established rules of game. A leading firm like SEL with powerful strategy can shape the rules and become the industry leader.SEL needs to push hard the building technology quality of construction and attractive performance features.SEL should search out new customer group and new geographical areas to enter. This has already been taken by the SEL is the only develop who extended its formal marketing programs overseas.SEL should use price cuts in special events for new buyers into the market. Advertising strategy has already well accepted to the customers. Now it should enhance its marketing force with more skill on relationship marketing. Because in case of a high involvement product SEL imperative for the marketing forces to come closer to the customer and help them in decision making.

Chapter One: Introduction 1.1 BACKGROUND OF THE STUDY Housing is a prime need ranked equally with food and clothing. This very basic provides people with the measure of safety and security. With emergence of Dhaka is the capital city of Bangladesh. There occurred a rapid rise its population within a very short time as Dhaka became the heart of increasing activities of various types. The annual population growth rate in Dhaka is 7% which is about 30% of the countrys total urban population. This rapid increase in population quickly resulted in scarcity of open spaces in the important residential areas of Dhaka. This problem has further assumed serious magnitude by hazards of purchasing land and constructing building etc. For these reasons people are relaying to the developers to get well constructed readymade apartments. The informal apartment immediately turned into a formal industry. The apartment market, being an emerging industry, is one in the early formative stage. Most of the builders are in a startup mode adding people acquiring facilities, tearing up sales, trying to broaden customer coverage and gain buyer acceptance. As an emerging industry, it presents strategy makers with some unique challenges because market is new & unproven. Limited information is available about the market. There are many uncertainties about how it will efficiency function how fast it will grow, and how it will efficient function, how fast it will grow, and how big it will get. A little historical data available is virtually useless in projecting future trends. There is a lack of consensus on which construction technology will be most efficient and which product attribute buyer will prefer. In such situation, a firm has to pioneer its own approach to technology product design, marketing distribution. Entry barriers tend to be relatively low (other than capital requirement). So additional new companies and large outsiders are entering especially when it has become more evident that the industrys future is promising. Firms have little hard information about competitors, how fast products are gaining buyers acceptance, and users experience with the product. 1.2 Objectives of the study Generally every study is conducted to find one or more findings if the findings are predetermined they called the objectives of the study. The main purpose of my study is to evaluate the marketing strategy of THE STRUCTURAL ENGINEERS Ltd. Thus the main objectives of the study are as follows. . To illustrate the marketing Strategy of The Structural Engineers Ltd. To find out new ways to achieve Competitive Advantage in the Real Estate Industry. To identify problems faced by the customers as well as the marketers in the market of the same. To put forward some recommendation in the light of the problems identified.

1.4 Scope of the study This study which is the prerequisite for fulfillment of my BBA degree; the internship program mainly gives job oriented experience. which are generated by secondary sources of information such as REHAB, annual report of THE STRUCTURAL ENGINEERS LTD. The duration of the study was three months. This is an individual study, which is worked for this particular study under my internship program supervisor. Since this is a formal study, the scope of the study was

not so detail. I just tried to give anThis report focuses on the overall scenarios of the Real Estate Market and Opportunities which allows THE STRUCTURAL ENGINEERS Ltd to craft its marketing strategy. The study covers overall Real Estate Market and Opportunities, THE STRUCTURAL ENGINEERS Ltd. Marketing strategy Analysis and Marketing System and all the data are collected from the organizations annual report and from other paper which are mainly secondary sources of the company. Information generated from the study has application in all the areas (7ps) of the marketing aspect. These are vital input for identifying the actual market share of the company. Human being has always been in search of new and better homes. Thus cities, towns and villages grew, flourished and wither away. In the process, societies forever demand and produce all kinds of goods and services, through, never satisfied, we ask for things more different. Real estate visibly shapes the way people live, work and innovates and therefore most strongly defines culture and civilization. Today Real state is recognized the world over as the main engine that runs the economy, creating work not only for masons and managers, accountants and architects, but also for makers and sellers of building materials. It means work for maintenances, security cleaning and other services; work for makers and sellers of appliances, furniture and vehicles; work for bankers and bureaucrats, lenders and lawyers. Purpose of this study is to locate and justify the current brand image of THE STRUCTURAL ENGINEERS LTD which has been established through its superior products and customer services, in contrast with the other leading real estate companies in Bangladesh. Apartment marketing is a relatively new field in business arena. There are many dimensions of studying this industry. Considering my project in view, I was more concerned about the supply side the apartment builders, especially, I have confined myself in the conceptual framework on industry analysis. Thus the other related issues are arbitrarily ignored. 1.6 Research Design: 1.3 Sources of information: Secondary data Secondary data is data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records and data collected through qualitative methodologies or qualitative research. Primary data, by contrast, are collected by the investigator conducting the research. Secondary data analysis saves time that would otherwise be spent collecting data and, particularly in the case of quantitative data, provides larger and higher-quality databases that would be unfeasible for any individual researcher to collect on their own. In addition, analysts of social and economic change consider secondary data essential, since it is impossible to conduct a new survey that can adequately capture past change and/or developments. Sources of secondary data As is the case in primary research, secondary data can be obtained from two different research strands: Quantitative: Census, housing, social security as well as electoral statistics and other related databases. Qualitative: Semi-structured and structured interviews, focus groups transcripts, field notes, observation records and other personal, research-related documents.

A clear benefit of using secondary data is that much of the background work needed has been already been carried out, for example: literature reviews, case studies might have been carried out, published texts and statistic could have been already used elsewhere, media promotion and personal contacts have also been utilized. This wealth of background work means that secondary data generally have a pre-established degree of validity and reliability which need not be re-examined by the researcher who is reusing such data. Furthermore, secondary data can also be helpful in the research design of subsequent primary research and can provide a baseline with which the collected primary data results can be compared to. Therefore, it is always wise to begin any research activity with a review of the secondary SEL annual report: every year SEL published annual report about marketing activities, vision, cost analysis, project summary, and corporate profile. So I collect information from SEL annual report. REHAB: REHAB also published a report on Real Estate sector so I collected information from REHAB report. SEL news letter: SEL published news letter in every month. From news letter information can collect easily about SEL To define the actual marketing strategy of THE STRUCTURAL ENGINEERS LTD, it is very important to obtain great insight of the following information.

Each research needs some unique of information from different sources.

1.6.1 Nature of the research design Exploratory research: A type of research conducted for a problem that has not been clearly defined. Exploratory research helps determine the best research design, data collection method and selection of subjects. It should draw definitive conclusions only with extreme caution. Given its fundamental nature, exploratory research often concludes that a perceived problem does not actually exist. Exploratory research often relies on secondary research such as reviewing available literature or data, or qualitative approaches such as informal discussions with consumers, employees, management or competitors, and more formal approaches through in-depth interviews, focus groups, projective methods, case studies or pilot studies. The Internet allows for research methods that are more interactive in nature. For example, RSS feeds efficiently supply researchers with up-to-date information; major search engine search results may be sent by email to researchers by services such as Google Alerts; comprehensive search results are tracked over lengthy periods of time by services such as Google Trends; and websites may be created to attract worldwide feedback on any subject. The results of exploratory research are not usually useful for decision-making by themselves, but they can provide significant insight into a given situation. Although the results of qualitative research can give some indication as to the "why", "how" and "when" something occurs, it cannot tell us "how often" or "how many. Exploratory research is not typically generalizable to the population at large. Social exploratory research "seeks to find out how people get along in the setting under question, what meanings

they give to their actions, and what issues concern them. The goal is to learn 'what is going on here?' and to investigate social phenomena without explicit expectations." (Russell K. Schutt, "Investigating the Social World," 5th Ed.). This methodology is also at times referred to as a grounded theory approach to qualitative research or interpretive research, and is an attempt to unearth a theory from the data itself rather than from a predisposed hypothesis. Earl Babbie identifies three purposes of social science research. The purposes are exploratory, descriptive and explanatory. Exploratory research is used when problems are in a preliminary stage.[1] Exploratory research is used when the topic or issue is new and when data is difficult to collect. Exploratory research is flexible and can address research questions of all types (what, why, how). Exploratory research is often used to generate formal hypotheses. Shields and Tajalli link exploratory research with the conceptual framework working hypothesis. Skeptics, however, have questioned the usefulness and necessity of exploratory research in situations where priori analysis could be conducted instead. The exploratory research has been conducted due to short time and little knowledge of the research focus. The main purpose of the survey is to define the actual marketing strategy of THE STRUCTURAL ENGINEERS LTD. So, exploratory research is most effective for completing this survey. Content analysis: Content analysis is a research tool used to determine the presence of certain words or concepts within texts or sets of texts. Researchers quantify and analyze the presence, meanings and relationships of such words and concepts, then make inferences about the messages within the texts, the writer(s), the audience, and even the culture and time of which these are a part. Texts can be defined broadly as books, book chapters, essays, interviews, discussions, newspaper headlines and articles, historical documents, speeches, conversations, advertising, theater, informal conversation, or really any occurrence of communicative language. Texts in a single study may also represent a variety of different types of writing journals, classroom discussions and lectures, and out-of-class interaction sheets. To conduct a content analysis on any such text, the text is coded or broken down, into manageable categories on a variety of levels--word, word sense, phrase, sentence, or theme--and then examined using one of content analysis' basic methods: conceptual analysis or relational analysis. Perhaps due to the fact that it can be applied to examine any piece of writing or occurrence of recorded communication, content analysis is currently used in a dizzying array of fields, ranging from marketing and media studies, to literature and rhetoric, ethnography and cultural studies, gender and age issues, sociology and political science, psychology and cognitive science, and many other fields of inquiry. Additionally, content analysis reflects a close relationship with socio- and psycholinguistics, and is playing an integral role in the development of artificial intelligence. The following list (adapted from Berelson, 1952) offers more possibilities for the uses of content analysis: Reveal international differences in communication content Detect the existence of propaganda Identify the intentions, focus or communication trends of an individual, group or institution Describe attitudinal and behavioral responses to communications Determine psychological or emotional state of persons or groups.

Chapter two: Literature review and history of real estate sector in Bangladesh

2.1 Introduction There is not much writing on real estate business in Bangladesh. The Real Estate and Housing Association of Bangladesh (REHAB) IS only organization of real estate companies of Bangladesh. A research was conducted in 1997 by REHAB using a sample of 126 projects of 56 real estate companies which only represents a profile of the real estate developers. Out of 126 projects 105 was residential, 9 were commercial, and 12 were residential cum commercial. Of the 126 projects 25 were completed, 81 were construction, and 20 were in pipeline. 2.1 Industry Profile: Dhaka City, born during the Moghul Empire and grown with the British rule, is expanding rapidly. From the beginning of the 20th Century its growth and latter development is marked with sheer lack of proper and far-reaching planning. The impact is now being felt at the end of the century. Dhaka City is undergoing terrific growth phase throughout the last two decades. While there are so many real estate developers in the market, there are also very few of them who have maintained the quality, safety and customer preference. It is customary in the country that the first day quality and impression is lost after a while when people start getting a bit of familiarity. This happens due mainly to lack of professionalism. Sometimes the consumers here are in a fix to choose a particular brand out of many. A good number of real estate companies are working under one umbrella association named 'Real Estate and Housing Association of Bangladesh' (REHAB). Almost 361 Companies are at present affiliated with this association, while more than 400 companies are working independently. BTI took a leading role in the formation of the industry association and is one of the founder members of the REHAB.

2.3 History of Real Estate in Bangladesh: The urbanization of Bangladesh is quite similar to that in Latin America; formerly called overurbanization in 1950s, this is a situation where a rapid rate of urbanization does not lead to corresponding growth in industry and economy but results in a shift of people from lowproductivity rural agricultural employment to low-productivity urban employment or underemployment. The major cities of Bangladesh exhibits the clearest symptoms of overurbanization, where an imbalance between rapid population growth and insufficient employment opportunities led to an increase in poverty and the mushrooming of slum and squatter settlements (Valladares, 2002).

In Bangladesh, the problem of urbanization is further aggravated by limited land supply in urban areas, lower land utilization and the lack of proper planning and land use policy. Due to globalization, the urbanization process is also increased. The ever-increasing urban population is creating an increasing demand for shelter. Article 25 of the United Nations Universal Declaration on Human Rights (1948-1998) has clearly stated that: Everyone has the right to a standard of living adequate of the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right of security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control. (UNO, 1948) Bangladesh has one of the lowest land-person ratios in the world. The situation is further aggravated every year through an irrevocable reduction of per capita share of land for housing, as a result of continuing population growth. Acknowledging the importance of housing, which is one of the five basis needs incorporated in the constitution of Bangladesh, the government is compelled constitutionally to play a vital role in securing housing rights. The constitution of the People s Republic of Bangladesh states in Articles 15(a) that: It shall be a fundamental responsibility of the State to attain, through planned economic growth, a constant increase of productive forces and a steady improvement in the material and cultural standard of living of the people, with a view to securing to its citizens--the provision of the basic necessities of life, including food, clothing, shelter, education and medical care From the above statement it is quite clear that providing shelter to all the people is one of the fundamental responsibilities of sate. But being a government of a poor developing country, it is almost impossible for the government to ensure housing for all. As the public sector failed to provide this, people have taken their own initiative to ensure their fundamental need for shelter. Government alone cannot provide housing to all and realizing this, they decided to share the task of providing safe decent places to live with Real Estate Developers, to make people a productive resource. As a significant development in the housing question has been the adoption of the National Housing Policy (NHP) in 1993 (amended in 1997). The basis principle of the 1993 NHP is that the government would play the role of an enabler of facilitator in the hosing sector (Article 4.2) and not the role of a developer of provider. So the government of the people s republic of Bangladesh is somehow patronizing the real estate developers to contribute in the housing sector of Bangladesh. Statistics show that Bangladesh will need to construct approximately 4 million new houses annually over the next twenty years to meet the future demand of housing. Estimates for annual requirements for housing in urban areas vary from 0.3 to 0.55 million units. The share of urban population in Asia is 39 percent at present and is projected to be 45 percent by 2015. In Bangladesh, 25 percent of the population (some 35 million people) now lives in urban areas; this proportion will be 34 percent (75 million) by 2015. Dhaka with a total population of more than 10 million is now the 22nd largest city in the world. While comparing the growth of the real estate and housing and the construction sector with that of GDP, trend growth in the two

sectors for the period 1992-2002 was 4.8 and 7.5 percent respectively, this is much higher than the trend growth in GDP of 4.6 % for that period. The shares of the real estate and housing sector and the construction sector in the GDP were quite high in the year 2002 and accounted for 8.3 and 8.0% respectively. However, the incremental contributions of these two sectors in the same year were also considerably high at 6.0 and 12.8 % respectively (CPD 2003). The Current trend of urban growth in Bangladesh is about 6-7% per annum. At present 29% of Bangladesh s population live in urban areas, which will be 34% by the year 2025. (REHAB). Considering this situation in this report is to identify the role of Real Estate Entrepreneurs in providing the housing facilities for the growing urban population and how these are influencing the growth pattern of the city and its sustain ability to the trade.

2.2 Growth of real estate sector in Bangladesh The economic performance of Bangladesh has provided strong impetus to the real estate sector, which has been witnessing heightened activity in the recent years. Substantial end-user and investor interest, large scale investment in infrastructure and rapid urbanization have contributed to the growth trajectory of real estate In Bangladesh. The real estate growth story is clearly visible in urban areas. High growth in services as well as manufacturing sector has resulted in high demand for commercial and industrial real estate. The following table shows the important factors which are forcing the real estate sector in Bangladesh. Booming Real Estate In Bangladesh Demand Pull Factors Resultant Impact Supply Push Factors Resultant Impact

Robust and sustained Macro economic growth Upsurge in Industrial & business activities, esp. new economic sectors. Favorable demographic parameters

Increasing occupier base Significant rise in demand for office/industrial space Demand for newer avenues for entertainment, leisure & Shopping Creation of demand

Policy & Regulatory are going to be reformed such as flexibility of foreign direct investment Positive outlook of global investors Fiscal incentives to developers Simplification of urban development guidelines

Entry of number of domestic & foreign players increasing competition & consumer affordability Easy access to mean of project financing Increases developers risk

Significant rise in consumerism Rapid urbanization Gamut of financing options at affordable interest rates Scarcity of open space in the important areas of the city. Hazards of purchasing land Hazards of construction of building. Price of land and apartment is creasing day by day. Rent of the apartment is comparatively high than the rent of the privately constructed apartments. Open market economy and remittance of foreign currency is easy.

for new housing.. Growth in services such as IT/Its, tourism and hospitality etc. Service facilities such as garbage disposal, central satellite TV connection, apartment s services serves time, roof top facilities, and so on. Infrastructure support & development by government

appetite & allows large scale development Improved quality of real estate assets Development of new urban areas & effective utilizations of prime land parcels in large cities

The recent times have also witnessed an evolution of the sector - towards greater institutionalization and corporationalisation. With the entry of global players, inflow of foreign capital, evolution of capital markets, geographical diversification and introduction of reforms, the sector has undergone some significant structural changes. Even critical concern areas like

transparency in the sector is also improving significantly. The trend is expected to continuing the coming years. 2.3 Market Structure and Growth: About the market concentration in the real estate sector Real Estate business, especially apartment projects, took off in the Dhaka City in the late 1970s. From the early 1980s the business started to flourish and showed robust growth. At present, more than 400 companies are active in the real estate business in the country. About 95 per cent of this business is still dominated by the top 10 companies. The market is highly segmented, primarily based on location, price of the land and size of the apartments. We stated that the main reasons for the development of real estate business in Dhaka city were: 1. Scarcity of open spaces in important parts of the city. 2. Hazards of purchasing land. 3. Rapid increase in the population of Dhaka. 4. Fiscal-Financial incentives such as the decrease in the rate of bank interest. 5. Restriction of remittance flows which financed the sector. Rent of apartments had been relatively high compared to the opportunity cost of privately constructed flats. Service facilities which are enjoyed collectively, such as garbage disposal facilities, central satellite connection, security, roof top facilities and lift, save time and reduce costs. Legal and Regulatory Framework. The legal and regulatory framework concerning the housing and real estate development includes laws such as Building Construction Act (1952), Town Improvement Act (1953), Dacca Master Plan (1959) and Building Construction Rules (1984). These laws are not adequate to facilitate resolving habitation problems. Other limitations of these rules included a lack of appreciation about the differences between planning and building rules, the outdated nature of such rules and the inability of the rules to address the demands of an expanding city and targeting only the middle and high-income groups. There is no standard housing plan for Metro Dhaka. The Master Plan (1959) was, in general, prescriptive in nature, with particular public provision proposed on an individual basis for specific places, with exceptions made for schools and open spaces for which generous standards were proposed. The rigid land use zoning of the Master Plan (1959) is out of date as a basis for development management. The Bangladesh National Building Code (1993) which was intended to ensure safety in construction has not been made mandatory. The Building Construction Rule (1984) demands a great deal of information from the applicant, but imposes very few compliance requirements on him. The procedures involved in the enforcement of law such as taking permission before development and construction were felt to be cumbersome. It was found that a developer has to apply to eight different authorities including WASA, DESA, Titas, Fire Department, civil aviation authority and ward commissioner for permission, which costs money and time. Moreover, the information solicited by the agencies relate mainly to ownership, rather than providing guidance for strategic and development control. Since the housing plans are not detailed, there

is ample scope for breach of rules. Lack of adequate staff capacity of the oversight agencies limits monitoring and leaves scopes for non-compliance with the rules and regulations. Two laws which were expected to be enacted, namely Private Housing Policy 2002 and MultiStoried Building Construction Policy 2002, will ensure risk-free construction. Financing the Housing Sector is not found adequate because of high interest rates and limited sources of funds. This is true both for the financing of the developers and the purchasers. The state-owned House Building Finance Corporation (HBFC) is burdened with bad loans, and loan disbursement has tended to be low in recent years. Delta-BRAC Housing came into this market as private-NGO collaboration, but their interest rates are as high as 16 per cent which is higher than even that of the HBFC by one per cent. The major financing organizations for housing are the HBFC and the Commercial Banks while financing by other organizations like Delta-BRAC, National Housing and Micro credit lenders are insignificant. Budgetary Measures in FY2003 Budget Unlike the past fiscal budgets, the government through the FY 2002 - 2003 budget provided a number of incentives to boost the real estate sector of the country. These measures include exemption of registration fees on land development, land sale and apartment transfer which is expected to bring down the overall tax in this sector to the level of 13.5 per cent, waiving of registration fees in cases where the apartment is resold within 5 years of buying and halving of property transfer tax at source. Estimates show that these measures have saved an average buyer about Tk 5 lac on a Tk 45 lac worth apartment. Dr Bhattacharya observed that if tax is paid at a flat rate per square feet of apartment, unaccounted for funds can be mainstreamed. Reflecting on the response of the sector to these new measures, after a protracted slump these measures have been able to infuse new hope. He also appreciated the reduced registration cost and other related costs, which resulted in the recent increase in the number of apartments which were registered. Estimates showed that in the first six months of Fiscal Year 2003 budget 1,500 apartments were registered over and above the normal number. Though these apartments were purchased earlier, many of the buyers did not get them registered because of the high cost involved. Thanks to the increase in apartment registration, the government could mobilize an extra amount of about Tk 41 core as non-NBR tax. He, however, mentioned that though the provision to allow investment of unaccounted money generated half of the additional income from registration fees, amounting to about Tk 20 core, the incentive itself has raised questions as regards the ethics of such measures. Whilst appreciating the beneficial measures taken in the budget, a number of additional budgetary interventions which include: To keep up the impetus, the current tax breaks may continue. Registration fees are perceived to be still high and can be reduced by making provisions for realistic land price disclosure. Fiscal support for linkage industries can lead to reduced raw material cost. y y 2.4 Opportunity Spectrum:

The phenomenal growth witnessed in Bangladesh real estate has widened the opportunity spectrum of the sector even beyond the established asset classes business commercial, retail, residential, industrial and hospitality. This section maps the opportunity in both the asset classes and the emerging asset classes. 2.4.1 Commercial Real Estate The boom in the Commercial Real Estate (CRE) segment is being fuelled by a robust demand from MNCs and corporate Bangladesh alike, particularly from IT/Titas, BFSI, Telecom and Pharmacy companies. Key Growth Drivers Entry of MNCs from different country Growth in knowledge and technology intensive sectors Growing number of domestic company. The primary growth driver of commercial real estate is the MNCs, which, is growing at 9.5-12 per cent annually. According to a survey industry is expected to grow to US$ 120 billion by 2012. As per estimates this translates into in excess of 180 million sq. ft of commercial office space requirement by 2012 -13. (Source: REHAB annual report) 2.4.2 Residential Real Estate In Bangladesh residential real estate is driven by increasing urbanization, rising incomes and decreasing household sizes, the residential segment has been on an upswing over the past few years. Several other sectors such as financial services, biotechnology, telecom, pharmacy, insurance, and consulting businesses are witnessing strong growth and have added to the rising demand. Key Growth Drivers Growing number of first-time home buyers Increasing income levels Increasing number of households Increasing affordability of homes Affordability of housing Penetration of mortgage finance (Source: REHAB annual report) 2.4.3 Real Estate Opportunities As economy of Bangladesh is changing rapidly that results market is becoming to much competitive and customers are becoming focal point of all the activities. At present some companies are already come up with quality that maximizes the customers satisfaction and started operating in this market. So as time goes, market becomes very competitive in nature. In this situation before launching a new model apartment, the SEL must carefully develop every step of the marketing decisions and should be based on market information, customer

perception, quality and gut feeling. Beside this competition, there are some opportunities for the marketers in Bangladesh. These are as follows

2.5 Size and contribution of the Real Estate: The size of the real estate sector and its contribution to the economy in terms of employment generation, accrual of investment, contribution to exchequer, output trends and linkage contribution of this sector are stated bellow: 2.5.1 Employment Generation The real estate sector at present employs about one million people, either directly or indirectly involved about 30 lac people in the sector. According to the Labor Force Survey (LFS), in 2006 5.5% of the labor force was engaged in construction where as for 1999-2000 it was 2.1% and 1995-96 it was 1.8%. 2.5.2 Investment Recent information concerning investment in the housing sector shows steady growth in the both absolute terms and as a percentage of total private investment and GDP. During the first three years of the fifth Five Year Plan period, the investment in housing and construction was US$ 1273.65. According to this trend till 2007 the investment in housing & real estate sector will be more than 2500$USD. (CPD). 2.5.3 Contribution to Exchequer The keynote paper indicated that the contribution of the real estate sector to the exchequer is a substantial one. Various revenues like VAT, registration fees, utility connection fees etc. generated in the real estate sector amount to about Tk 36 crore per year. Regarding payment of corporate income tax of the real estate companies no ready information was available.

2.5.4 Output Trend During the peak years of the early 1990s, over 3,000 apartment units were built by developers every year. Today around 10,000 units are built, but recent time this trend has declined due to delayed delivery of apartments by an average of six months, economic downslide, global recession, and the poor law and order situation.

2.5.5 Linkage contribution

The real estate sector has also made substantial contributions to the growth of a host of backward and forward linkage sectors which include Rod, Cement, Bricks, paints, ceramics, aluminum, furniture, consultancy and many others. In this context, he provided examples of catalytic influence of the real estate and housing sector in development of linkage industries whereby the sector is immensely contributing to employment and the GDP. Those include Bangladeshi state-of-the-art ceramic industries, Thai and Kai aluminum, More than a dozen paint industries, A large number of furniture making and interior design companies, An exponentially growing cement sector, which is helping the country to attain self-sufficiency in this important input. 2.6 Impacts of Private Real Estate Developments on Patterns of Urbanization: Actually the private real estate entrepreneurs are providing residential facilities for the higher income group. Profit maximization is their only motto. Hence, huge lack of services and facilities are observed in the recent real estate schemes. Consequently, several unexpected and disastrous impacts are observed. In observed land use composition with to the standard are stated in the table.

Land Use parameter

% of planned total land % of actual land use area area 40-65 5-10 20-30 5-10 5-10 80-85 2.5-3.5 10-12 0 0

Residential Community Facilities Road & Streets Open Space (parks and playground) Shopping

Here it is seen that for maximizing the profit the private developers are selling more than 80% of the total project area. In Bangladesh the housing problems is basically for the lower income people, but the private real estate developers are developing the apartments for the higher income people. Due to poor load bearing capacity of soil, high-rise buildings are very difficult to build in places being developed by real estate companies at present. Hence, low density of residential area is

resulting in the form of inefficient utilization of the land resources. Urban area is expanding horizontally without maintaining any guidelines. Where selecting the potential land for private land banking, the urban expansion zone was given utmost priority. The expansion zone is the potential urban area where services and utility facilities are supposed to expand within short period of time. When this area is facilitated with the utility and services, the land price also increase substantially. This is a land speculation process may be called private land banking which has created a belt around the city. There are several impacts of this process: y To accommodate the incoming rural to urban migrants, the city needs to expand. But this belt is creating hindrances for the city expansion. The Inner city is facing tremendous pressure of migration. Due to the skewed distribution of land, people are forced to live in slums and squatters. At the same time the land value is also increasing. The result is a potential land price bubble in this area. People are purchasing the land, keeping them vacant for a few years to get more benefit while selling the same. Hence, city is expanding with rural nature and rural areas are loosing its identity. City is forced to expand to a direction in a linear nature through the gaps of the private land banks which is not either expected or planned before.

Several questions can be raised regarding the positive impacts of this process. Through creating tremendous pressure on the core area of the city whether or not, this process can maintain equity in the distribution of land. Unfortunately the answer would be negative as the land ownership pattern is really skewed and complex. Moreover large parcels of lands are occupied by the government organization like Cantonment, Bangladesh Railway etc. at the heart of the city which is either left vacant or under utilized. Of course urbanization is always essential for economic diversification and country s long term sustainability. From this point of view, these real estate developers are patronizing urbanization alternatively helping Bangladesh in its economic sustainability. But, where urbanization is itself a burden for Bangladesh and how far this process can create diversification that is questionable. The unexpected and unplanned growth of residential areas is creating extra problems for the city managers. There is no link between the existing structure plan and the real estate developments. Consequently these projects are creating sheer stress on the planned development of the city. This is also creating polarization in the demand of services facilities. 2.6.1 Findings & Recommendations: 2.6.1.1 Right to Housing for all

The rich people housing is not a problem. If strengthening is the purpose, middle and low income groups should be targeted. Due to the high price of land, most of which is privately owned, it has become very difficult to include middle and low-income people in any housing scheme. Thus providing shelter for low-income people without subsidies has become quite difficult. Though provision for middle and low-income people is possible in government owned khas land, this process is very difficult due to many cases became unsuccessful because it was observed that even if quality shelter is provided for low-income people, ultimately those facilities are enjoyed by the high-income group. Inclusion of relevant experts in decision-making is required in this regard and the private sector should also be involved in this process. The real estate sector should incorporate the idea to set an example in the world by providing housing for the poor. There are many examples of allocating land at nominal prices but such examples are not available for low-income people. In the absence of a land policy, it can not be made clear how land can be made available for new uses and how sharply increasing land prices can be controlled. For low and middle-income people the problems of land scarcity and high prices were of continuous concern. The price of one katha (i.e. 720 sft) of land being around Tk. 50 lac has put low and middle-income people out of the housing market. Though 30 per cent of people living in Dhaka are slum dwellers there is no housing policy for them. The developers develop for profit. If proper attention is not paid, the number of slum dwellers will increase rapidly. In the eastern fringe of Dhaka all the lands up to the Balu River are being grabbed, and whatever development is taking place in that area is not for low-income people. The purchasers are constrained by their capacity especially because of the high cost of borrowing. 2.6.1.2 Housing Ignored in Research It has been observed that research on the housing sector is quite inadequate, studies by academics are mostly theoretical with an academic bias; when they are conducted by developers, business gets the utmost emphasis; when the government themselves perform the study only the thoughts of the government are reflected.

2.6.1.3 Control over the Real Estate Sector About 95 per cent of the business in the real estate sector is controlled by 10 companies and 47.3 per cent of total private investment is in the housing sector. These ten companies have a large share of total private investment. In recent days, more and more companies and many corporate bodies with surplus capacity to invest have entered the real estate sector. They are buying hundreds of acres of wetland for filling and development. However, this will not contribute to a sustainable environment.

2.6.1.4 Dhaka City of Migrants Though Dhaka stretches over a very small area and through in-migration alone its population is growing by 2.5 to 3 lac every year and currently totals 30 lac slum dwellers, an appropriate land policy is still missing. The draft housing policy formulated in 1991 projected that 3.1 million housing units for urban areas and another 2.1 million will be required for rural areas. Thus, the total demand of new housing units is likely to exceed 5 million per year. However, in the paper the number was mentioned to be 4 million, which was considered as an underestimation. 2.6.1.5 on the issue of Finance Growth of the real estate sector is not possible without proper financing being available to both the developers and purchasers. Cost of funding and cost of borrowing are major issues in this regard. At present, contribution of the financing organizations to the sector as a whole is quite inadequate and this is holding back its growth. Since the developers borrow money for a very short-term, the rate of interest is not much of a problem for them. Their problem is primarily with access to credit and delays in decision-making. In many cases developers are not properly follow the procedures for borrowing money from financial organizations. Three parties get involved in the process the developer, the landowner from whom the land was leased and the one who buys the apartment. Thus, the legal aspects of borrowing become cumbersome. A simplified legal method should be established for all institutions and should be made mandatory. While selling apartments, the developers do not properly mention in their prospectus that the apartment is mortgaged against some borrowing. When litigation arises, in many instances the apartment buyers claim that during the purchase they were ignorant about the mortgage and bought the property in good faith. In many cases, adverse judgments were given which seem to be reasonably correct. To avoid such complexities the financing organizations tend to avoid the real estate development sector and rather lend money to other sectors. The interest rate is so high that it is extremely difficult for a purchaser to pay the installments of the loan from the rental income. In many cases their projections go wrong because there are instances when the apartments remain vacant for months on end. Unless they have some additional capacity to repay the loan, they become a defaulter and it then becomes difficult for the financing organizations to manage the loan. So there is a need to restructure the housing loan. The specialized organizations which finance the housing sector have nothing to do with it, as they are borrowing from the banking sector at a 13 to 13.5 per cent rate of interest on an average. As per the provision offered by Bangladesh Bank, they cannot secure any deposit fund if its maturity is less than one year. The general preference of the depositors is to keep the money in the deposit for very short period though its renewal takes place on a roll over basis. He felt that Bangladesh Bank, as with other banks, should keep the maturity pattern flexible so that the potential investors can choose the most suitable deposit plan, which may be later used for housing loan.

The buyers should get loans at lower rates of interest and with longer repayment periods. International financing organizations like WB, ADB, and IMF etc. should also finance the housing sector development if some appropriate guarantor is available. This role can be played by the Bangladesh Bank. 2.6.1.6 Housing - Scope of Definition The definition of housing should not be limited to shelter or living space. Though in general terms in housing is meant for shelter, in an academic sense housing entails house of many kinds comprising educational institutions, recreational centers, shopping centers, and many others. We don t only sleep; we need housing, schools, hospitals, shops and many such things. With such a narrow focus on housing that dealt with only residential use, at some point we may find that illegal shops, schools or colleges have taken over the sides of the highways. 2.6.1.7 Rules - Inadequate and often violated Legal and regulatory aspects of housing development are inadequate and developers are violating the stipulated set back rules of RAJUK by not leaving undeveloped spaces as stated in the set back rules. RAJUK officials in many cases illegally give permission for building of houses in exchange of bribes. Unlimited use of land by a small number of people taking advantage of remittance flows or inheritance is not desirable and therefore should be restricted with the help of legal and regulatory measures. 2.6.1.8 Urban Planning Ignored The Dacca Master Plan formulated in 1959 was burdening us for 35 years but it was never reviewed which was supposed to be done every five years. For this the Master Plan created many problems for us. If the Structure Plan formulated in 1995 could be implemented to solve many of our problems. Though planning is an important aspect, for planning of Dhaka City there is no defined system of budgeting. Therefore, it is quite impractical to expect the general public to do something by their own initiative unless the government comes forward. Before liberation when only 5 per cent people lived in urban areas, the Urban Development Directorate was formed with a Director in the status of Secretary. At that time, urban planning was well in practice, but several efforts have since been taken to close down this organization. He observed that over the last 30 years this organization has not had any planner and therefore could not render functionality. We need a National Land Use Policy. The government with the help of the people should decide on ways and means to keep the country s prime land for agriculture because we have to feed

140 million people, and the government also has the responsibility to provide housing for everybody including the poor. 2.6.1.9 Partnership and Participation Required If real estate developers build apartments in residential areas, they should ensure necessary environmental support as well. Clinics, schools and NGO offices are being housed in apartments developed by the real estate developers. Otherwise, people residing in those areas are facing many problems. 2.6.1.10 Sustainable Environment Threatened The present process of development ignores environmental consequences. As a result low lands and drainage routes are being blocked. Though RAJUK has formulated DMDP it has very little application. It also emphasized that whatever developments are taking place, have to ensure sustainability and environmental assessment. 2.6.1.11Tendency in Architecture The type of apartments being developed resembles a form of box architecture. In current design practice basically a box is made first within which 3 or 4 flats are designed with an outward masking of good elevation and facade treatment where improvement of space articulation and gaming with volume of space is absent. Housing is not just a means of providing square feet of floor space. Rather, a system which is more inclusive of other aspects should be practiced. The small children that live in those boxes do not have any recreational facilities. They are seen playing football on computer screens instead of playing in the green spaces. Finally Though low-income people are needed in the city as construction or garment workers, the number required is not as high as thirty lac. Those people are in Dhaka because the villages cannot provide them with livelihood opportunities. So steps should be taken by the government to keep these rural people in rural areas. Projects like Grihayon , Asrayon , Ghore Phera etc. should be fostered and promoted, In order to reduce rural-urban migration, dedicated programs for the poor should continue. In drawing this conclusion, everyone should carry out his or her responsibilities properly so that Bangladesh could have a housing sector that met the expectations of all stakeholders.

THE STRUCTURAL ENGINEERS Ltd 3.1 History: Structural Engineers Ltd., affectionately called SEL by its innumerable customers and patronesses has been in the construction arena for the last 27 years, initially serving various sectors of the Government including the sectors of health, food, power, disaster management etc. and gradually moving on to the sector of real estate. With a view to alleviating the living accommodation problem of the mega city Dhaka, SEL stepped in the real estate development scene in 1995. During the span of the last 15 years SEL has completed and handed over more than 100 apartment and commercial projects in Dhaka, establishing itself as an embodiment of quality, competence and efficiency. We believe that Quality is not a concern solely of the top management or the quality control department rather it should be the concern of every single member of the workforce, starting from the CEO right down to the bottom rung of the ladder. Besides, based on the philosophy Quality comes first, Profit is its logical sequence, SEL is maintaining Quality at all stages of development by involving the total workforce. With the dedicated contributions of a full-time workforce including architects, design engineers, skilled & experienced project personnel and not to mention state-of-the-art in-house architectural & structural design facilities, SEL has been able to achieve enviable success within a very short time. At SEL we believe that a satisfied customer, whether a landowner or a purchaser, shall become a source of our advertisement, creating a wider scope for business. SEL proudly aver that of the more than 150 completed projects, many of the plots we acquired were through the advocacy of our valued land owners. In all honesty choosing a real estate company is quite a difficult and risky task for a landowner. Nowadays there are many real estate sectors in the field. Which, then, shall one choose and what shall be the criterions for choice? SEL suggestion would be that a landowner may quite easily jump over this hurdle by talking to the landowners and the unit owners of various completed projects of a particular developer. From them SEL shall be able to get an accurate and unembellished picture about that developer.

3.2 The Profile: THE STRUCTURAL ENGINEERS LTD Corporate Office y

Office Of Management Services Office Of Project Planning

SEL Centre, 29 Bir Uttam Qazi Naruzzaman Sharak, West Panthapath, Dhaka-1205 SEL Centre, 29 Bir Uttam Qazi Naruzzaman Sharak, West Panthapath, Dhaka-1205 SELl Centre, 29 Bir Uttam Qazi Naruzzaman Sharak, West Panthapath, Dhaka-1205

Year of Establishment Product Line Turnover in Taka in 2010 Number of Employee Market segment

y y y y y

1995 Apartment & Commercial 1800 Million 2000 - High Class - Higher Middle Class

SEL mission Organization mission refers management customized newer to the question what is pour business and what will it be. A mission statement broadly outline the organizations future direction are serves as guidelines the organization future direction and serves as a guiding concept for the organization is do and to become. Vision of SEL: Vision is the long take over the next 5 to 10 years management expectation of an organization position. The vision of SEL reflects one characteristic that has typified the SEL approach vision something shared by all of our team members. We have a vision to be the best at what we do. A vision is to make the best use of our natural and human resources. A vision is to establish out organization and our country as a respected and valued regional presence. Objectives of SEL To reach the goals of organization in individual aspects & the company as a whole. Efficiency of the work force by employing their skills & abilities. Providing employees with proper standards of job satisfaction Providing the organization with well trained & well motivated employees. Communicate the policies to all employees of Human Resource Management issue. The objective is to have a clear knowledge of planning, organization, leading &Controlling aspects of SEL Anticipate SEL customers requirements and provide the customers with the products which their market quality and services need. Achieve a 20% return equity; achieve an act sales growth rate of 10 %a per year . 2.4 Business Philosophy Profit Maximization Cost Minimization customer value & satisfaction . 3.3: Management and human resources:

Companys Wealth Maximization

Create

The organization clearly has inspired management. Furthermore menagerie emphasizes on expand. Once and professionalism as a result, the group has a highly qualified and well trained staff in each department. The human resources department is responsible for providing policy guidelines and system to the facilitate the recruitment development and maintenances Human resources SEL puts the cutest emphasis in the selection of it human resources. Enclose have been screened from different professional and academic background. Engineering, Accounting, Finance, MBA etc. SEL plans to develop skills and professionalism among the employers. Associated support hand: Architectural consultant: Architect Saiful Hafiz (H-055), Srishti, Upadeshta, 13/1.Gaush Ngar, New Eskaton road, Dhaka. Structural consultant: Engineer Md .Monaiem Hossain House #50, Road 4a, Dhanmondi R/A. Dhaka. Banker: Prime bank, Panthopath branch. Legal advisor: Advocate M.d. Wdud, The law society ispahani building, Motijhil c/a, Dhaka.

3.5: Performance of SEL SEL has undertaken a total of 150 apartment project from 1995. At present Ongoing 20, upcoming 25 and counting. The most important feature of the SEL projects are that they are basically cocentered on dhanmondi, Uttara, Basundhara and Banani region and flat size ranged from 1200-1750 sift. 3.6: SEL projects summary Total number of projects Number of complicated project Ongoing Upcoming and counting Total units available Total sold Price range Size range Geographical coverage

150 130 20 25 708 613 5 million20 million 1200 sft-1800 sift Dhanmondi, Gulshan, Baanani, Mirpur, uttara, eskatom, greenroad middle class and high class.

Customer range

3.7 Product policies of SEL SEL included two product design policy

1. General facilities and specifications. 2. Optional facilities. General facilities and specifications: #Super structure RCC framed structure #Walls are made of hollow brick for external and solid brick for internal walls. #Floor Fu Wang tiles in the all rooms #External door decorative door of teak with brass fittings standard lock brass door #knocker check viewer and door chai #Tiles floor #Colored distempered walls. #Colored aluminum with tinted slighted glass #false ceiling in all toilets, latest electrical facilities modern lift #Generator for electricity back tip #Car parking #Security and communication #Intentional doors flush door with French polish #Door locks standard quality mortise lock in all internal doors except #Kitchen maids room mid maids toilet window scudding aluminums frames with tined #glass and mosquito net. #Safety grills standard grill in windows and verandas. #TV line concealed dish antenna line in living room and master bed room of each apartment. #Telephone connection in all bed rooms and dinning room. #Intercom connection to dining room and master bed room. #Generator emergency generator covers im4. Two emergency light connections. Lift #Connection all bed rooms and living room #Electrical fittings imported good quality switches and sockets. #Local best quality decorative light fittings #Water supply connection from WASS #Sewerage system planned for each apartment #Electricity meter separate electricity meter for each apartment #Wiring system concealed wiring for all electrical and telephone lines.

KITCHEN # imported tiles for wall and floor # designed marble worktop #Stainless steel sinks. #Gas connection for double umber cooker #Power outlets to nm electrical gadgets (mixer, microwave, oven etc) el suitably located exhaust fan

TOLITES

# imported tiles for wall and floor # imported basin, commode etc # Marble top basin counters in master bath # imported bathtub with hand shower will be provide in master bath with geyser. #Large size inure with decorative ferine #Best quality local glass tray, towel rail, head shower, toilet paper holder and porcelain #Soap case in all the toilets 2. Optional facilities Wiring complete with jack pins and sockets #Extra doors partition #Fancy fixtures and luminaries. #Curtain rail/ pelmets #Shower tray/ bath tub in toilets #Extra door locks #Separate line for hot old water in toilets and kitchen #Cabinets in kitchen and rooms #Geysers insolents and kitchen. #Extra 2 pin/3 pin sockets and others.

3.3 Activities of the Company: Real Estate Business in private sector mainly concentrated on land development and construction of apartments. SEL develops unimproved and undeveloped land and then sell the plot to the people and make profit, and they also construct residential and commercial buildings and sell them to make profit. In order to accomplish the above task the company proceeds in the following ways. The first task of the company is to find out elite class of society they who are in housing needs. Such class includes the engineering association, teachers association, doctor association, agriculturist association etc. Generally such classes are grouped according to the professions. The next task of the company is to collect corporate data of the above identified classes. Generally these data includes the followings.

y y y y

Income level. Living style. Living standard. Thinking about housing.

After studying the potential customers then the company informs them regarding the on going projects and also the corning projects in detail. 3.3.1 Land Procurement policy

It has been observed that procurement policy depends upon the location, size, shape and proper documentation. Other countable factors are cash involvement, higher biding of rival s etc. The company normally collects information about land by giving advertisement in newspaper or by personal contact. Landowners also themselves provide information from their own. Generally this company offers cash or apartment or both cash and apartment against the land to the owners. 3.3.2 Terms and Conditions Set by SEL The following terms and conditions are to be maintained while transacting with SEL. Application Interested buyers are asked to submit application on the prescribed form with due signature along with the earnest money. The company also reserves the right to accept or reject application without assigning any reason. Allotment Allotment is normally based on first come first serve basis. On acceptance of the application and down payment, the company issues allotment letter to the applicant on receipt of which he/she starts making payments as per the specified schedule. Buyers willing to make a onetime payment are entertained with substantial discount. Until the full payment of installments, buyers cannot transfer the allotment to the third party. Payment All payments are made by A/C payee cheek or bank draft or pay order or cash, in favor of the owners. The company receives payments. Buyers are requested to follow the payment schedule. The company also issues or may issues reminder to the buyers for delay payment. The buyers are liable to pay delay charge @ 4% to 5% per month. If the payment is delayed beyond two months, company has the right to cancel the allotment. Hand Over Normally the possession of the apartments and lands are handed over within the specified schedule. This may be delayed due to the reasons beyond the control of the company, such as force, natural climates, political disturbance, strikes, etc. The handing over is made after the full payment of the installments. Utility Connection Connection fee, security deposits for water, gas, and electricity, and incidental cost relating to these are not includes in the price of the projects. Buyers make these payments directly to the authorities concerned and the company provides all the necessary assistance. Transfer of ownership Proportionate share of undivided land is registered in favor of each allotted as per the current rules and regulation of Ministry of Works. Transfer Cost

All cost relating to transfer of ownership of the proportionate share of land is borne by the allotted on actual basis. Management The buyers must become a member of the owner s cooperative society, which is formed by the owner of the land and apartments for the management of common services such as lift, pumps, security, compound etc. Each allotted must deposit a specified amount in the reserve fund of 3.4 key Success Factors: 3.4.1 People An organization is as good as its human resources. Based on this very basic fundamental philosophy, THE STRUCTURAL ENGINEERS LTD believes that human beings are its most valuable assets and prime movers. THE STRUCTURAL ENGINEERS LTD also believes that the potential of human resources is limited only to the extent to what one can put to use. Realizing this, THE STRUCTURAL ENGINEERS LTD makes considerable investments in attracting and developing talent ant and dynamic professionals, not only to do their job flawlessly, but also to give them an environment, which fosters innovation and entrepreneurship. The extent of empowerment that is enjoyed by its people at various levels of the organization enables each employee, from the very bottom to the top, to contribute to the overall momentum of the company. The employees of THE STRUCTURAL ENGINEERS LTD. are differentiated not just on the strength of their professional competence, but also on the basis of individual resilience of character and the spirit of enterprise. In the face of today s competitive business environment, THE STRUCTURAL ENGINEERS LTD develops and retains high achieves and a motivated workforce and provides an excellent working environment for them that reflect and promote a high level of loyalty and commitment, both to it s employees and from its employees. At THE STRUCTURAL ENGINEERS LTD, good work is always expected and rewarded. Over the years, the company has been successful in providing an environment and culture that nurtures individual growth and development, and allows people to attain personal fulfillment as well as achieve company objectives. The competent workforce of the company provides it s with every reason to be optimistic about the future. 3.4.2 Quality: Committed to making a difference THE STRUCTURAL ENGINEERS LTD. is committed to provide living standards of the people. This commitment demands massive social responsibility of ensuring quality in terms quantity, purity, stability, safety, efficacy and presentation of the product. At every stage of the production, a stringent control mechanism involving raw material testing, in-process quality control, finished product testing as well as stability monitoring and documentation is maintained to ensure the highest quality product consistently.

Training & Development: Investment for future The ever-changing market place has fuelled THE STRUCTURAL ENGINEERS LTD determination to keep up with the changing times by constantly strengthening the information base, exploring new lines of business and expanding domestic. This prompted the company to undertake infrastructure development to build competitive advantage in order to retain its position as a leading real estate company. THE STRUCTURAL ENGINEERS LTD is committed to developing individual s human, technical and conceptual skills through various educational and a wide range of internal and external human resource development and job related training programs each and every year. At THE STRUCTURAL ENGINEERS LTD, a well-planned and structurally designed in- house training activity-involving sales, marketing and production etc. is conducted throughout the calendar year. These training programs are conducted by in-house resource persons on a regular basis and as per scheduled. THE STRUCTURAL ENGINEERS LTD employees also received training from Rapport Bangladesh Limited and Tack training international on the following topics: y Time Management. y Customer care. y Customer relationship management. y Leadership. y Team building and leadership. 3.4.3 Commitment to the Customer: THE STRUCTURAL ENGINEERS LTD professionals are dedicated to providing you with the best service throughout the real estate transaction! Take a look at the following pledge certificates to detail the services you can expect. Service Pledge y y y y y y y y y Dedicate myself to making the process of buying your next home as easy and as successful as possible. Respect you, your needs and be honest and forthright. Hold your best interests in the highest regard throughout the process. Value and respect your time, being as efficient and effective as possible Understand your needs and respond quickly. Consult with you to determine your particular real estate wants and needs. Use my base of experience, knowledge, tools and the most up-to-date training to best serve you. Explain each step of the process and act as a guide to help you make most informed decisions. Disclose material facts known about the property and respond to questions concerning the property.

y y y y

y y y y y

Help determine your purchasing power, while explaining alternative methods of purchasing and/or financing. Provide an action plan for locating the right property, at the right price and terms, in an acceptable time frame. To the best of my ability, continuously show you new properties that fit your needs. Provide a Customized Home Search Plan for locating the right property for you, only showing you properties that will best meet your needs and in accordance with Fair Housing regulations and ethical real estate practices. Use the most comprehensive database of listings in the area, to help you find the home that best meets your needs, whether to be the Multiple Listing Service and/or other methods. Provide the resources of Century21.com that offers thousands of listings, allowing you to easily review homes that are right for you, access in-depth information on neighborhoods, and additional information. Use my knowledge and expertise to promote the most valuable purchase on your behalf. I will assist you in evaluating the market value of properties that are of interest to you and help you obtain the most advantageous price and terms. Provide access to financing that meets your needs, at the lowest possible rates available to you. Advise and assist you in completing your purchase agreement, and present your offer with integrity in a light most favorable to your needs. Upon acceptance of an offer by you, pre-settlement (escrow) activities throughout the closing process will be monitored as permitted by law or local practice. Offer to provide you with information regarding other professionals (e.g. attorneys, Tax consultant, Govt. authorities) that may assist you during and after your move. Utilize THE STRUCTURAL ENGINEERS LTD System to provide you with in the area of your new home, to assist you further.

3.4.4 Exclusive Buyer Service: y Consult with you to determine your particular real estate wants and needs. This includes providing information as to the advantages and disadvantages of the choices available to you, in order to help you make informed decisions. Maintain your confidentiality and represent your best interests throughout your buying process. Help you define your financial ability to purchase, explain alternative methods of purchasing and financing, and assist in arranging mortgage financing. Provide an action plan for locating the right property, at the right price and terms, in an acceptable time frame. Search using available methods to locate the property that will best meet your needs and wants. This may include properties listed with our office, offered through other real estate companies, as well as unlisted properties.

y y y y

y y y

y y y y y

Show properties that meet your specifications, in accordance with Fair Housing Regulations and ethical real estate practices. Disclose material facts known about the property, and other relevant information that is likely to affect your ability to obtain the right price and terms. Assist you in evaluating the market value of properties that are of interest to you, and suggest negotiating strategies to help you obtain the most advantageous price and terms. As your advocate, advise and assist you in completing your purchase agreement, and present your offer in a light most favorable to you. Refer you to other professionals (attorneys, accountants, inspectors, mortgage lenders, etc.) for information or assistance as appropriate. Upon acceptance of an offer between you and the seller, monitor all pre-settlement (escrow) activities throughout the closing process as permitted by law or local practice. Consult and communicate with you on a regular basis throughout your entire real estate purchase process. Recommend home warranty to protect you.

3.4.5 Customer Service: Huge amounts of money are on the line when people buy real estate and houses. Buyers and sellers need to trust real estate agents, and customer service is the key to generating trust and sales in real estate. "Service is king, and it can make or break a company. Nothing beats knowledge, experience, problem solving and responsiveness. Combining that with good manners usually wins a customer for life. It is one thing to talk about excellent customer service, but it is another to demand it and maintain it as a key element of an organization's culture. The first reaction to customer complaint is a negative one. No matter how much you ve tried, some of them will not be satisfied. But you should try and see customer complaints in a positive light. Complaining clients are clients who care about getting better service. They want to keep working with you. Therefore, instead of seeing comply as a blow to your business, try and see them as valuable feedback. 3.4.5.1 Importance of Customer Service Whatever your business is customer service can make or break your business quickly. From a real estate organization to the kid that delivers your newspaper customer service should be your top priority. If your customer service skills leave a lot to be desired you will lose out on referrals as well as repeat business. Customer service is the key to any business because bad word of mouth advertising travels ten times faster than good word of mouth. Here is a perfect example. If you go to get your hair cut and it is terrible. The first ten people that will listen to the story, you will be sure to tell them where not to get their hair cut. However, if you liked your haircut you will not go around boasting about it. The first few people that notice and compliment you on a nice haircut, you will be happy to refer them to the nice girl at the mall that cut and styled your hair.

Same goes for where you ate lunch. If you liked the food but not the customer service you will be sure to tell people where not to go before you tell them a nice place to go. It is just human nature that makes a lot of people tend to be this way. So let s start off on the right foot and make a good customer service impression as a real estate organization for your customers. The most important thing that you can do first and foremost is smile. Sounds so simple doesn t it? Have you ever heard, It s all in the delivery? It is so very true. Take the time as real estate agent to smile and use eye contact when speaking to your customer. Acknowledging your customers with courtesy, eye contact and smiles makes them feel important and open to you. They will feel the need to be less guarded. Customers will be more likely to share what their needs are and truly what might be holding them back from using your services today. Customer service is about integrity and a positively professional attitude towards your customer. Don t be a glass half empty real estate agent sales representative. Be the glass is have full customer service representative. Listen to what it is they need and if you can help them then do it. If you can t assist them refer them to someone who can help the assist them better with their needs. The customer will almost certainly refer you to someone they know or be back for another service or product that you do offer. By doing that for them, you just told them that you cared about them and their needs. The customer now trusts you and will know that you will be honest in what you can and cannot do for them. This is how long term customer relationships are built. 3.4.5.2 Be Familiar with Buyer/Seller Needs If you are a real estate organization that has a customer that you helped to buy a home, you can get quality leads for your satisfied customer/client. You took the time to sit and earn their trust, they have told you their needs now it is time to go to work for them. Be committed to each individual client. Whether the client is a buyer or a seller, be accessible for them in a timely fashion. One thing you won t want to do is to neglect one customer for another. Each individual customer or client should have your full attention. Make the best of the time that is given to you with each client. They will appreciate you for it and repay you with great word of mouth to your future clients as well as repeat business. 3.4.6 Six Steps to Remarkable Service:

The Structural Engineers Ltd continues its center of attention to increase customer loyalty by improving the quality of customer service. Employees of this real estate go through to understand and work through these steps (every time) for customer loyalty and customer retention.

Connect with customer The people of the SEL always try to be connected with their customers to meet there expectations by providing better quality, flexibility of the larger selection and innovative products. Discover what they want People of this company are highly concerned to define what the customer wants while they are negotiating with the buyers of apartments and sellers of the land. At this stage, the company also gets the flexibility of getting background information and their perceptions regarding the company and its market position. Know what you can do To increase customer loyalty, the people of the selling department of SEL spend their considerable time to define what they should do when the customer show his or her positive attitude toward for closing the buying process. Do it Whenever people of the SEL can understand what the customers want and how they want to close the buying process then they do in accordance of customer responses. Follow-up It is highly practiced in the SEL for maximizing its customer feedback because it believes that business is defined by customer relationship. Thank them Having completed the buying process for the apartment buyer and the selling process for the land sellers, the SEL s selling and purchasing department gives them feedback and ensure them for their expectations and finally congratulate them. 3.4.7 Achieving Customers Satisfaction: Service Quality and Customer Expectation of THE STRUCTURAL ENGINEERS Ltd In any kind of business, keeping a high quality is essential to sustain in the market. And a successful organization like THE STRUCTURAL ENGINEERS Ltd. the service quality must be more than enough to drag as well as to keep the customers.

Customer Perception and Satisfaction To serve with the best quality, reliability, which is the ability to perform the promised service dependably and accurately, must be maintained. Responsiveness, which is the willingness to help customers and provide prompt service, must also be maintained. This dimension emphasizes and promptness in dealing with customer requests, questions, complaints and problems. By hiring right (mainly theory X) kind of employee, this concept can be satisfied. Again, assurance is defined as employee s knowledge and courtesy and the ability of the firms and its employees to inspire trust and confidence. This dimension is likely to be particularly important for services that the customer perceives as involving high risk and/ or about which they feel uncertain about the ability to evaluate outcomes. So we must hire efficient employees. Then empathy is defined as the caring, individualized attention the firm provides to its customers. The essence of empathy is conveying through personalized or customized service that customers are unique and special. All customers want to feel understood by and important to firms that provide service to them. So empathy must be there. So if these points are ensured to have the best quality, the service quality increases itself. And this is very much important to achieve the goal of the organization.

How To THE STRUCTURAL ENGINEERS LTD Satisfy their Customers: Keeping customer satisfied is key to success and it doesn't matter if are selling products or services to external or internal customers. For improve customer satisfaction company perform the following ten activities. Understanding Make sure what customers really want. Use that information to follow up with actions and solutions. Access People want an ease of doing business. THE STRUCTURAL ENGINEERS LTD offers multiple communication methods (phone, web, or call center) and make sure the experience is speedy, efficient, and pleasant. Respect Customers want someone who understands and can respond to their needs. THE STRUCTURAL ENGINEERS LTD always acknowledges customers and treats them with respect to earn their trust and their business. Personalize People like to feel special. Sending specific, personalized messages will help eliminate some customer's feeling of insignificance, help connect with those people, and help form a bond with them.

Streamline Offer processes that are streamlined and automated, but also have available guidance or confirmation at the end of the automated process to ensure that the customers issues, orders, etc., have been resolved or fulfilled. Always have an option to escalate issues to a customer service Department. Track Information Create a knowledge base so customers do not have to repeatedly give their contact, product, or problem details. Target Use data to be proactive, but also use it for a targeted purpose. Do not try to sell the same widget or service to your entire customer base. Approach only those customers who are most likely to be interested. Empower Empower customer service department to resolve problems on the spot, including offering discounts or special services to retain customers who might otherwise head to a competitor. Easy Doing Business Find ways to make it so easy for customers to do business with you that switching to a competitor would be work for the customer. Interpret Need Note the difference between what customers say and do (customers say they want free shipping, but willingly pay for it with no complaints), and find ways to use that information so that everyone benefits. 3.5 Construction of SEL

y y y y y y

Safety and security first. Highest safety- Standard on the basis of ACI code. 24 hours supervision during construction. Earth quake protection up to 8.4 Richer Scale. Cement and concrete are regularly tasted in laboratories for ensuring the quality. All construction is supervised by well qualified term of experienced engineers.

3.6 Infrastructure of SEL

Office layout is divided into 13 sections to ensure smooth execution and implementation of their projects. y y y y y y y y y y y y y Planning and Development. Architecture and Design. Engineering. Marketing Procurement Accounting Administration Public relation Land Advertising Loan Security Human Resource.

3.7 Financial Sources of SEL y y y Own Fund Bank s Loan Advance Payment of customers

The SWOT analysis provides a useful strategic guidance. A SWOT analysis (Strength, Weakness, Opportunities and Threats) allows in constricting balance sheet for the company. In the analysis a company brings together all the internal factors, influencing companys strength and weakness. Based on these factors we can identify external fact0ors which can help to define opportunities and threats that a company faces due to competitive forces and trends in the business environment. Strength y Company has excellent service department.

y y y y y y y y

Brand name is the companys most important assets. Company always concern about to know, what is new and how can it overcome. It has efficient management. Good reputation all over the Bangladesh Wide distribution capability Healthy financial position Has moderate experience in the business field Innovation capacity is excellent

Weakness y y y It does not have narrow marketing program It does not have own training department Dont provide further facilities for the newly customers.

Opportunity #the growth of the industry is very promising. #Purchasing power of ours citizen are increasing #Bank loan facilities provide improved which enable customers with more purchasing power. y Most of the company does not know the actual market size of real estate business. As the need for better housing is increasing, there is a great opportunity to measure the market and penetrate the market. SEL also takes the financial risk to bring any change and penetrate the market. Price should be moderate and somewhat below the competitors price. It has creative power to develop innovative thing.

y y y

Threats y y y y y y Competitors are becoming a big threat for the company. Low price of the competitors is another threat. Political Instability is another great threat for the company. Changing customers demand. Changing world economy rapidly. Currency fluctuation

Chapter four: Marketing Activities of THE STRUCTURAL ENGINEERS Ltd 4.1 Marketing Strategy of SEL: Generally marketing means a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. Many people think of marketing only as selling and advertising. However, selling and advertising only the tip of the marketing iceberg. It the marketer does a good job of understanding consumer needs, develop products that provide superior value, and prices, distributes and promotes them effectively, these products will sell easily. Marketing of fixed assets are not such as other products or services. It is because buyers think a lot before making a buying decision of such product. They consider a number of things before making such decisions. So marketing strategy used in this business is like the other products marketing strategy. The marketing strategies used by the SEL are stated below: Like the other companys products marketing strategy, the marketing theory of SEL is made up of the 7 ps. Product, Price, Place, Promotion. Each P contributes to its marketing. 4.1.1 Analysis 7 ps of SEL: 4.1.1.1 Product Strategy A product is anything that maximizes utility of the consumers. With respect to product, marketing strategy consists of the following features of a product: THE STRUCTURAL ENGINEERS Ltd. is committed to provide to the living standards of the people. This commitments demands immense social responsibility of ensuring quality in terms quantity, purity, stability, safety, efficacy and presentation of the product. At every stage of the production, control mechanism involving raw material testing quality control, finished product testing as well as stability monitoring and documentation is maintained to ensure the highest quality product consistently. Quality Maintenance and Control In the case of land the quality is assured by developing firms and eliminating problems such as lowland areas, legal obligation, impediments etc. On the other hand, in the case of building construction quality materials are used and all the necessary materials are used and maintained accordingly, in some cases necessary experts opinions are also considered. All the quality factors are controlled by the direct supervision of the MD of the company as well as by selected personnel specialized in the respective fields. 4.1.1.2 Pricing Strategy Generally price is the amount of money charged for a product or service, or sum of the value that consumers exchange for the benefits of having or using the product or service. In other words pricing policy is the course of action or guiding philosophy that

helps a business firm to pricing decisions smoothly and perfectly and also guides the firm to achieve its goals. It is an important element of the entire marketing strategy of a firm. A firm can easily manipulate the demand of the target market by handling its price carefully. At the present time, the market is highly segmented, primarily based on location, price of the land and size of the apartments. As a result, the SEL is highly concerned to provide highest quality residential real estate by considering its price as accepted by the target market. The most common statement of the marketing executive of SEL is that we are dedicated to providing customers of real estate with the highest quality services possible so the price of THE STRUCTURAL ENGINNERS Ltd is higher than other competitors Pricing Objectives: The objectives of pricing strategy must be consistent with the companys overall mission and purposes. A company can obtained six major objectives through its pricing survival. These are maximum current profit, maximum revenue, maximum sales growth, maximum market skimming, and product quality leadership. THE STRUCTURAL ENGINEERS Ltd pursues three of the above objectives- Survival, maximum current profit, and maximum sales growth through its pricing. Maximum Current Profit: It estimates its demand and costs associated with alternative prices and choose the price that produces the maximum current profit, cash flow and rate of return on investment. Maximum sales Growth: SEL sets a reasonable price for its products (lands and apartments) considering the competitors prices. The company wants to maximize unit sales and thus profit. Pricing methods There are a number of price setting approaches, these are- markup pricing, target return pricing; buyer based pricing, going rate pricing, sealed bid pricing approach. At the present time, SEL adopts going rate pricing method for its products. In going rate pricing the firm bases its price largely on the competitors prices with less attention paid to its own costs and demands. The study shows the pricing of the real estate depends on certain factors such as location, square feet, quality of construction, construction cost, and amenities, markup policy, competitors price and demand for the product. In the case of pricing, ADHL considers the following factors. y y y y y Determine the purchase price Estimates the developments costs. Predict the future costs of the land. Fixed costs of the asset. Variable costs of the assets.

Lastly competitors costs.

4.1.1.4 Promotion Strategy Activities that provide information leading to sales of their properties and services are called promotion. Advertising, public relations, personal selling, and promotions are all involved in the promotional mix. Promotional techniques are only ways of beginning the selling process; the broker or agent is the one who must complete the sale. 1. Advertising: Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsorthe real estate agent, in our case. Most advertising is channeled through the media; broadcast or print. 2. Public Relations: Any activity designed to create a favorable image toward a business, its products, or its policies. Sponsoring special events like a Cancer Walk-athon, open houses, Parade of Home participation, chamber of commerce membership, publicity, and Salesman of the Year awards are all examples of public relations. These all create positive word-of-mouth advertising, which can lead to sales solely based on your Perceived reputation and good-works. Publicity is a specific kind of public relations worth mentioning. It involves placing nonpaid positive and newsworthy information about your company or people in the media in the form of a press release. Various media encourage businesses to submit articles for publication at their discretion. Examples of newsworthy articles may be the addition of a new agent to a staff, civic service rendered by a real estate firm or agent, relocation of an office, special award recognition, etc. Publicity is not always positive, however. A reporter may discover a problem with your property or services and include your name in a newspaper article. You have no control over what will be printed in this casebut you must act quickly to remedy the damage done. 3. Personal Selling: Any form of direct contact occurring between a real estate sales agent and a customer. Examples are when agents give a presentation to a prospective seller to sign a listing agreement, or when a buyers agent drives the client to show them several homes that meet their needs and wants. Personal selling takes a lot of the agents time, so its important that you qualify the customer before you invest too much time. 4. Promotion: The activities which provide communication between the seller of property (real estate agent) and the many potential buyers (target audience) of that property.

Forms of Promotion most Frequently Used in SEL

Promotion comes in many forms; flyers, visual merchandising, special events, premiums (like printed t-shirts, pens, calendars and notepads with your name and phone number) speaking engagements, and anything you can think of to get attention. Visual merchandising like as displays of properties for sale in windows or at shopping malls are effective selling tools. Open houses are a primary type of special event in the real estate business. An agent has an opportunity to use many of the promotional tools available to aid in its success. Promotional campaigns are a series of activities built around a specific theme for the purpose of reaching the advertisers objectives. Examples of promotional events are the local parade of homes, annual community activities such as rodeos, etc., and brokerinitiated events.

In order to effectively promote a specific property an agent must be able to identify the target market for those property select two advertisements targeting different markets from a local newspaper and identify the markets being targeted. Explain your decision.Promotion mix is composed of five tools of communications- advertising, personal selling, sales promotion, and publicity. In the face of todays competitive business environment, SEL develops and retains high achieves and a motivated workforce. We create an excellent working environment for them that reflect and promote a high level of loyalty and commitment, both to our employees and from our employees. At SEL, good work is always expected and rewarded. Over the years, the company has been successful in providing an environment and culture that nurtures individual growth and development, and allows people to attain personal fulfillment as well as achieve company objectives. It is our competent workforce that provides us with every reason to be optimistic about the future. SEL is committed to developing individuals human, technical and conceptual skills through various educational and a wide range of internal and external human resource development and job related training programs each and every year. At SEL, a well-planned and structurally designed in- house training activity-involving sales, marketing and production etc. is conducted throughout the calendar year. These training programs are conducted by inhouse resource persons on a regular basis and as per scheduled. SEL employees also received training from Rapport Bangladesh Limited and Tack training on the following topics: y y y y y Time Management Customer care Customer relationship management Leadership Team building and leadership

SEL is spending on promotional activities which are shown in the following table-

Expenditures on Promotion Program Figure-1.1 (TK. In Million) Year 2000 2001 2002 2003 2004 2005 2006 2007 Total Sales Promotion 2 5 7 9 14 16 10 13 76 Advertisement Personal Selling 6 9 8 5 12 11 14 16 81 Total

19 22 17 21 14 12 23 20 148

27 36 32 35 40 39 47 49 276

Source: Annual Report of SEL Advertising Objectives: Understand the usage of target marketing. Define and identify the elements of the marketing mix. Define and identify the elements of the promotional mix. Identify the forms of promotions most frequently used in real estate. Advertising of SEL Broadcast Media Radio and television are examples of broadcast media, and are typically the most expensive form of advertising. Broadcast media, however, is being used more frequently by real estate firms than in the past. Pros: Radio is used more frequently than television by brokers because it is a less expensive medium and requires less preparation time (1-2 days insome markets). Larger firms like Century 21 may use the benefits of television to reach national audiences for their franchises. Television sells the reputation of the company, not the individual homes. Smaller firms will usually choose radio in order to reach listeners of varied incomes,ages, and interests within and near the local trading area. Agents can also use radio to promote specific properties or events. Broadcast media is a passive or

intrusive medium. This means the prospect is not searching out the information in the ad, nor may they be actively watching or listening. It may also be harder to directly hit your target market; however, more programming is targeting specific groups. Outdoor/Transit Media These mediums are placed where they can be easily seen by the audience to be reached. For Sale signs placed on properties, car signs, signs on busses, and billboards are all examples of this media. Seen by a lot of people, and the cost is inexpensive per each exposure. Enticing ads may also create memo ability for years to come. For sale sign on a property are excellent. People search them out, and are pleased to take home flyers kept on the sign. Only a few people who are exposed to your ad are in your target market. Many billboards are on heavily traveled roads with high speeds. There is little time to read your message or write down your phone number. Outdoor and transit media are usually contracted for several months (or 1 year), so they cannot be easily changed without great expense. Specialty Media This media is only limited by your imagination. It includes everything you can think of, such as promotional videos, novelty items such as imprinted calendars, balloons, pens, flags and banners, talking messages describing listings, and skywriting. Pros: Your imagination is your only limitation. Anything you can print your name or log on is game. You can use these in direct mail, as a small incentive for attending a seminar, a thank you, Christmas gifts, or attention-getting devices. Most are relatively inexpensive. Cons: A lot of these inexpensive items are quickly discarded or may be given to people who are not your target. Some items may only last a day or two, Then they are used up. Information: Activities carried out by brokers/agents to develop, promote, and distribute Products to satisfy customers needs and wants are known as marketing. There are four basic Elements that constitute the marketing mix; product, price, place, and promotion (known as the7Ps). and since the real estate industry is driven by sales, a fifth P may be addedPeople. To ensure your marketing efforts are not being wasted; you must identify your target market. Target market in real estate is a specific group of people who need the services of an Agent, and have the money to buy. A real estate office, by its very nature, will usuallyServe the needs of many markets with varying needs. In order to introduce a particularProperty, the target market must be identified according to such factors as income, ageGroup, concerns, and buying motives. Knowing the characteristics of a target audience is also necessary to determine what media to use in the promotional strategies.There are many ways to reach your identified target market. But regardless of whichMethod you use, you want to make sure that you are getting the biggest bang for yourBuck. Otherwise, spend your money wisely and identify media or promotions that willReach primarily your potential clients, and not those who are not in the market for your Product. For example; if youre selling homes, you would not advertise on a college radio Station. Students neither have the money to buy homes, nor are they in

need of one.However, if you own apartments as income property and they are located near the school,the college radio station would be a great place to advertise to rent these apartments Advertising Media Information: Before making a decision about which medium is best to carry the desired message to the right people or target audience, it is important to become familiar with the media used in real estate promotion. The four categories of media generally used in real estate include print, broadcast, outdoor/transit, and specialty. A decision must be made as to which media to use based on the buying motives of the target audience, cost vs. budget, the mediums reach, etc. In order to maintain an effective advertising program, it is important that the effectiveness of each promotional event be carefully evaluated.

Here most of the importance is given to the advertisement and on creating customer faith and also to the after sales services. SEL spends the biggest portion of its total promotion budget for advertising. When we look at the company, we can easily realize that the company could successfully anticipate the effectiveness of advertising. Here some of vehicles used as media for the advertisement of SEL products. Print Media Print media includes newspapers, magazines, real estate trade journals, direct mail (directed to specific people on a mailing list), specialty magazines and guides, directories (Yellow Pages), flyers and brochures. Print media is used most frequently in the real estate field. Newspaper advertising offers brokers the advantage of reaching a large percentage of the local market at a relatively low cost on a daily basis. It also provides flexibility in terms of rapid changes or additions in advertisements. Real estate firms use both classified and display newspaper ads. Classified ads are small ads with small type and no illustrations, and are grouped by subject matter, such as Homes for Sale.Advertisements are published frequently on the most of the national dailies citing feasibility, opportunities, advances etc along with attractive photograph of the projects. Neon Sign Billboard Display ads are large ads and may include all or part of the following parts; headline, illustrations, blocks of copy, and facts about the firm such as the name, address, slogan, theme, trademark, and logo. Print media is relatively inexpensive when compared to other mediums. When bought in large quantities, brochures and like printed materials can cost pennies per unit. With the prevalence of inexpensive color printers and copiers, real estate agents can produce professional-quality color flyers themselves on-the-fly. Direct mailings can be sent to a specific list of targeted prospects. Newspaper ads can be created and inserted within a short period, so a last-minute open house may be promoted. Direct mail aka Junk mail may be thrown away unopened. The average success rate of direct mail is 2-3%, which is fairly low. Directories like the Yellow Pages

are printed yearly, and if your information changes during that period, you are out of luck. Magazines sometimes require a long lead time of 2-3 months before your ad is seen, and can be expensive Lots of billboard and neon sign are established at the different places of the city. Generally these places are selected according to the commercial importance. Television Broadcast Media Radio and television are examples of broadcast media, and are typically the most Expensive form of advertising. Broadcast media, however, is being used more frequentlyby real estate firms than in the past. Pros: Radio is used more frequently than television by brokers because it is a less expensive medium and requires less preparation time (1-2 days in some markets). Larger firms like Century 21 may use the benefits of television to reach national audiences for their franchises. Television sells the reputation of the company, not the individual homes. Smaller firms will usually choose radio in order to reach listeners of varied incomes, ages, and interests within and near the local trading area. Agents can also use radio to promote specific properties or events. Cons: Broadcast media is a passive or intrusive medium. This means the Prospect is not searching out the information in the ad, nor May they be Actively watching or listening. It may also be harder to directly hit your Target market, however, more programming is targeting specific groups. Outdoor/Transit Media These mediums are placed where they can be easily seen by the audience to be reached. For Sale signs placed on properties, car signs, signs on busses, and billboards are all examples of this media. Pros: Seen by a lot of people, and the cost is inexpensive per each exposure. Enticing ads may also create memo ability for years to come. For Sale Signs on a property are excellent. People search them out, and are pleased To take home flyers kept on the sign. Cons: Only a few people who are exposed to your ad are in your target market. Many billboards are on heavily traveled roads with high speeds. There is Little time is to read your message or write down your phone number. Outdoor and transit media are usually contracted for several months (or 1 Year), so they cannot be easily changed without great expense. Specialty Media This media is only limited by your imagination. It includes everything you can think of, such as promotional videos, novelty items such as imprinted calendars, balloons, pens, flags and banners, talking messages describing listings, and skywriting. Pros: Your imagination is your only limitation. Anything you can print your Name or log on, is game. You can use these in direct mail, as a small incentive for attending a seminar, a thank you, Christmas gifts, or attention-getting devices. Most are relatively inexpensive. Cons: A lot of these inexpensive items are quickly discarded or may be given to

people who are not your target. Some items may only last a day or two, and then they are used up. Advertisement is also frequently shown on the national and private channel in order to attract the potential customers and also to get the people to know about the projects. Personal Selling Company maintains good relationship with the customers. Generally, the company follows two mode of personal selling for maintaining long term relationship with their target customers. Field force employees A number of employees are engaged in door to door marketing. They go to the customers houses, explain them about projects and request them to come to the office about the real condition of the projects. Generally this is the task of influencing the people to make a purchase decision. In House Marketing Team In hose marketing team is the part of the marketing department of the company. Usually they work with the direct customers who come to the office directly for land and office purpose. Different personnel involved in house marketing team co-ordinates with the customers. The personnel explain different aspects of the projects to the customers and also give them answer of questions. However their main motto is to sell their products by giving service. Sales Promotion Sales promotion is another essential ingredient in marketing campaign. Advertisement offers a reason to buy, whereas sales promotion offers an incentive to buy. SEL offers the following discounts, gifts, low cost services price off, cost free services etc. Sales policy of SEL: Moat of the company in this industry develop sales policy based on in house in house sales personnel. The out side sales forces are generally used to create customers. In case of purchasing a plot or a flat the first task a customer has to do is booking the plot or flat with a specified amount of money. After the booking rest of this are done by sales and credit realization personnel. In case of selling SEL follows the following two sales policies. Sales at a time with cash payment In this case at first the customer pays the booking money and after one month of booking pays the rest of amount. Sales on installment This is comparatively relaxed policy. There are several installment schemes. In this case the purchaser can pays a specified amount either in 12 or 24 or 36 or 60 or 72 installments.

Chapter five: Conclusion and Recommendation Today, Real state is recognized by the world over as the main engine that runs the economy, creating work not only for managers, accountants and architects, but also for makers and sellers of building materials. It means work for maintenances, security cleaning and other services; work for makers and sellers of appliances, furniture and vehicles; work for bankers and bureaucrats, lenders and lawyer. Human being has always been in search of new and better homes. Thus cities, towns and villages grew, flourished and wither away. In the process, societies forever demand and produce all kinds of goods and services, through, never satisfied, we ask for things more different. Real estate visibly shapes the way people live, work and innovates and therefore most strongly defines culture and civilization. In Bangladesh perspective, it is almost impossible for the government to ensure housing for all. As the public sector failed to provide this, people have taken their own initiative to ensure their fundamental need for shelter. Government alone cannot provide housing to all and realizing this, they decided to share the task of providing safe decent places to live with Real Estate Developers, to make people productive resources. So, government should provide much flexibility to the developers to provide better housing facilities not only to higher income people but also middle and lower income people. At the present time, the population of our country is increasing at very alarming rate but total rent are remains constant. The demand of housing is very high, particularly in Dhaka city. So, the prospect of real estate business is very high. Now if the real estate companies run their business according to the demand of middle class, lower middle class, and higher middle class people, the business must be profitable. From the study, which I have conducted at SEL found that they are using all the possible policies to run the business. The report also has shown the overall picture of the real estate market and opportunity in Bangladesh.

In our country there is a not adequate land for peoples livings. Peoples are very interested to get a piece of land that meets their housing problem SEL is one of the renowned real estate companies in Bangladesh. The company provides complete housing solution to the people. SEL also contributes in our national economy. Main goal of SEL is to provide better services to the cast SEL has been faced internal problem which is faced by almost every real estate company. At first, it is very difficult to find out a vast area of blank space in Dhaka city. Beside this Government & non government organizations always creates political forces. Local terrors often harassed company for donation. It is very tough to occupy after buying the land. It is found in most cases that there is more partner or same land & have to face complexion of laws with them. At last, SEL doing its business successfully in our country. It provides its services as per its commitment & improves the business continuously.

Recommendations: As per earnest observation some suggestion for the improvement of the situation aregiven below: To attract more customer SEL has to create a new marketingstrategy which will be able to increase their business as it could improve revenue. The officers of SEL Corporate Branch think that long termtraining is required for company officers for the betterment of the service.Computer training is must today to improve the individual as well as companyperformance. Maximum customers are expect the responsible price, so carefully the price should beestablished in per plot. All modern facilities are equal distribution in all class of people. To provide financial assistance like Desa, Tista, Wasa, T&T to be strengthened& for getting connection of utilities promptly the procedural bottleneck should beremoved. Improve office atmosphere to give customers friendly feeling. Provide intimate attention to customer needs. Customer convenience will receive priority. Customer database should be more organized. Have to more aware about customers right.

y y y y y y y y y y y y y

The company management response to the market must be efficient and active. The company should recruit experienced and active people should be appointed in the marketing division. Product Price should be moderate and adjusted with the competitors price. The company executives should be more caring to the customers speeches and opinions. The company should establish sound and effective communication channels with internal customer through electronic mail. Decentralized authority to prompt communication and decision. The company should establish franchises in different location for prompt customer Care. Website needed for the convenient of the customers. Company should give more advertisement in different media like Radio, TV, Newspaper, and Magazine. It also should offer credit facilities to different classes people in order to increase their ability to purchase the plot/apartment. The company must increase the promotional activity. Establish incentives for frequent and repaid feedback on performance. Use appropriate technology to help jobs easier, more productive, less redundant & repetitive.

Finally THE STRUCTURAL ENGINEERS Ltd has the opportunity to increase its market share by following above suggestion

Reference Books Kotler P. Keller K. Lane, Marketing Management, 12 Th Edition, Ptentice Hall, India,2006, Page no :( 138, 534-603, 632-695.) Kotler P. Principles of Marketing, 10th Edition, Pearson education pte.Ltd. Indian, 2004. Page no:(69, 274, 275 & 565.) Chopra S. Supply Chain Management, 2nd Edition. Pearson education, India, 2003.Page no :( 8, 49, 50, 53, & 71.)

Annual report of SEL Prospects of SEL Different manuals of SEL Different circulars of SEL