Professional Documents
Culture Documents
MBA HR Projects Real Estate
MBA HR Projects Real Estate
Praveen Gupta
(2011-2013)
INDEX
No Particulars Page
1 Acknowledgement 1
2 Declaration by the Student 2
3 Certificate from Internal guide 3
4 Executive Summary 4
5 Brief Background of the Industry 5
6 Overview of the company 6
7 Products of the company 7-8
8 Domestic Real estate scenario 9
9 Objectives 10
10 Modes of the promotion 11-12
11 Growth and effect of Internet advertisement 13-15
12 Methodology 16
13 Areas visited (map) 17-18
14 Limitation 19
15 Analysis and Interpretation 20-30
16 Findings 31
17 Recommendations 32
18 Conclusion 33
19 Questionnaire 34
20 References 35
ACKNOWLEDGEMENT
First and foremost I would like to thank Mr. Atanu Upadhayay, Zonal Manger of
MAGICBRICKS.COM for providing me an opportunity to do my project work on
„Different Modes of Promotions used by Small Agents and Builders in the real
estate business and Effect of Internet Advertisement on them.‟ Mr. Upadhayay has
been my external guide during work and has assisted me in every possible way in
understanding the workings of the company. It has been a good experience being
with him and working under his guidance. He has guided me with his valuable
inputs to overcome the obstacles faced during my work.
I would like to express my sincere gratitude towards Prof. Biswanath Ghosh for
letting me the opportunity to pursue my summer interns in Magicbricks.com. Prof.
Biswanath Ghosh was my internal guide during the internship „I remember I called
him after my first day of internship when I was demotivated and tired and he
motivated me by saying it‟s the time to feel the heat you have to work hard‟ that
helped me throughout my work he also by gave some valuable information as to
how to go about with the project.
I would also like to thank Mr. Avik Goswami, Mr. Sudarshan saha , Mr. Siddharth
Bhattacharya, Mr. Amit Bose , Mr. Rajiv Biswas , Mr. Samindra Banerjee, Mr.
Pranay Jain of MAGICBRICKS.COM for their support and assistance throughout .
Finally I would also like thank my Parents specially my brother for his always kind
Support throughout my career.
PRAVEEN GUPTA
STUDENT DECLARATION
I declare that the project titled “Different Modes of Promotions used by Small
Agents and Builders in the real estate business and Effect of Internet
Advertisement on them .” has been done by me as a part of the curriculum for the
degree of Masters In Business Administration at Eastern Institute of Management ,
Kolkata during my Summer Internship .
(Signature of Student)
Name in full
Date
CERTIFICATE FROM INTERNAL GUIDE
“Different Modes of Promotions used by Small Agents and Builders in the real
estate business and Effect of Internet Advertisement on them” was conducted
under my supervision.
Signature of Faculty:
My work as a Summer Trainee in Magic Bricks was to collect Raw Data from the
market or we can say from different localities which was allocated to us so as to
find out the different modes or medium used by small agents and builder to
promote their business to expand their business in which one of the medium was
Internet which has been a recent trend my work was to scan the locality look for
the agents and builders also if the agent or builder was interested in advertising
through our portal we did that by fixing an appointment through our seniors.
Apart from above work , as a Summer Trainee I was also Suppose to ask them
which mode of advertisement they use more often if they showed interest in Online
advertisement we used to fix appointments with them and then a representative
from magicbricks meets that agent and explains the procedure and thus sells the
product
Thus after doing the Studies we can say that there is a huge scope for internet
advertising in the years to come builders already rely in internet advertisement but
the small agents still rely on advertisement done through newspaper slowly they
are getting used online/internet advertisement.
Brief Background of the Industry
Real Estate Industry is rapidly growing at a fast pace in India, the drastic change in
population is demanding for more residential apartments , multistoried buildings
thus more and more construction is taking place which in return benefits the Real
estate industry, it also plays a critical role in the development of India‟s economy.
It is the second largest employer after agriculture.
High Growth in services as well as manufacturing sector has also resulted in high
demand for commercial and industrial real estate.
Real estate industry is divided into four sub-sectors: Housing, Retail, Hospitality
and Commercial. The housing sub-sector contributes five-six per cent to the
country's gross domestic product (GDP). Meanwhile retail, hospitality and
commercial real estate are also growing significantly.
Growth in the Indian economy has stimulated demand for land and developed real
estate across industries. Demand for residential, commercial and retail real estate is
rising throughout India, accompanied by increased demand for hotel
accommodation and improved infrastructure.
Overview of the Company
Within three months of its launch it became the No.1 property portal.
Magicbricks.com has over 6 lakh registered users, including over 65000 real
estate agents and more than 13,000 builders.
It is a unique Banner which Display‟s the Projects / properties every time the page
is opened.
Benefits: - A well Planned Banner is placed on the page footer which scrolls with
the page, which constantly attracts attention.
Benefits: - it gets Maximum exposure with logo, name and description which has
the advantage of high visibility and branding.
It is an intrusive flash banner which appears each time the page is opened and it
gets the maximum response.
Gets a special display in the left panel of all relevant city special pages.
Multiple responses with a special display format in property search result. Get
higher positions comparing free property listing it also adds Brand value.
Domestic Real Estate Scenario
The Real Estate Scenario in India is witnessing a huge growth as most of the
metropolitan cities are escalating the property map with more and more projects.
According to reports, an estimated size of the Indian real estate sector is $ 12
billion of country‟s 600 billion economy. the real estate sector is witnessing a
stable and further sustainable boom and the market is expected to reach $45 billion
in next five years. This boom in the real estate market comprises of basically three
sectors , i.e residential , commercial and retail. This boom in real estate market can
be apparently observed in delhi, greater noida and other major cities of the country
.
As the demand is getting higher , more and more players are entering the industry
with a wide range of project to offer . The market trends in indian real estate sector
are very healthy and are indicating towards a positive trend for the long-term
investors. Other factors which are likely to contribute to long term demand for real
estate in india are rapid population growth , rising disposable incomes for
individuals and easy credit lending facilities .
To find out the ways by which the small agents and builders promote their
business.
To Find out how many builders and small agents promote their business
with the help of Internet through a questionnaire .
T.v : Small Real estate agents generally don‟t promote their business though
this medium but Builders prefer this medium, as it reaches the mass builders
like DLF, Godrej, merlin group do put their advertisement in T.V.
Internet advertisement has grown immensely around the globe , as internet has got
a vast reach which can allow advertisers to reach significantly more people at a
very less time and in a cost effective way, nowadays people are using internet to do
everything which starts from social networking to doing online transactions , thus
internet has been playing a dominant role . thus the advertisers are choosing this
medium to promote their business in a cost effective way . Internet advertising is
becoming a platform and a choice for local as well as for global advertisers it
has become one of the key tools that companies use to attract attention for their
product or services . the growth of this particular media attracts the attention of
advertisers as a very good source or we can say a productive technique to bring in
customers in a cost effective way .
Internet advertisement offers so many facilities to the to the users of it, Still agents
and builders prefer Newspaper Advertisement as their first preference of
advertisement and then Internet but online portals they offer many benefits as
compared to newspaper ads for example if the the agent want to edit his ad he can
do so but if we talk about newspaper ad the user cannot do so also thus editing
facility allows agents to add few more properties in their ad by simply clicking on
the the edit option also if they refresh their site the particular agent page is shown
at the top .
Many top builders such as DLF , Avani , Merlin group etc are mostly dependent on
internet advertisement and they spend huge amount of money in online ad , but
they get a good response as they own the special city page or premium page.
Many Agents find online advertisement as cost effective as they offer so many
facilities , but these facilities can only be beneficial if the user has knowledge of
computer .
Therefore it has been a mixed effect as few agents and most builders prefer online
ad as they have got a good response but in the years to come online ad for small
agents will become a good way to promote their business as the investment is quite
low and return is high
METHODOLOGY
Research design
Sources of data:
Method:
Sample size: 30
i)South Kolkata
ii)North Kolkata
Research Instrument
Questionnaire
Areas visited
South Kolkata :
North Kolkata
Limitations of the study
Since the study had to be completed in the time span of two months where the field
of study was vast , another limitation was area of operation though I am not a
resident of Kolkata it was tough for me to visit areas which I had never heard of, I
was assigned to locate builders , small agents and to make them understand how
internet advertisement can expand their business , it was difficult for me to make
small agents understand about internet advertisement who haven‟t used computer‟s
throughout their life . while locating agents use of internet was strictly banned thus
we had to physically look for agents in different localities by asking from people
residing in that area .
We had to bring the visiting card of Agents we had visited and most of the small
brokers owned tea shop , runned small business thus they never had any visiting
card , another difficulty was that it was difficult to introduce my association the
MAGICBRICKS without any Identity card .
For all this reason I had restrict the sample size to 30 respondents which have been
chosen randomly
ANALYSIS AND INTERPRETATION
15
10
5
0 A B C
Recently 2-5 years More
started than
years
Interpretation :
From the above survey it can be clearly seen that there are new agents who are
entering the real estate business out of 30 respondent 9 are new players and have
recently started this business which shows how real estate market is booming at a
fast pace and the majority of the respondent are in this business for more than 5
years which also indicates that they have got the return from that business which
had made them stay longer.
People Surveyed according to their role in real estate business
Interpretation
One of the reason as to why there are more agents is their brokers and sub-
brokers who are categorized under agents , also in places like jessore road ,
Dumdum road, lake town (north Kolkata), Lake gardens, jadavpur we find
more agents then builders .
18
16
No of respondents
14
12
10
0
yes no can't say
Options
INTERPRETATION
This particular question was asked to find out their view as to see what is
their view regarding advertisement
INTERPRETATION
The other reason which make them advertise is number of agents and builders in a particular
area . so to get better contacts or a name in the market advertisement is required , respondent
who said no where those who believed in word of mouth .
Agents and builders surveyed to know how often they take the help of
advertisement.
25
20
no of resondents
15
10
0
Very less Always Not required
options
INTERPRETATION
This was a very interesting question for them and the answer which I got
mostly was „Yes‟ the reason was there has been lot new construction which
enables Builders and agents to advertise .
Also to find a place in the market to maintain the goodwill they had to
advertise to keep themselves updated.
Agents and builders surveyed to know which mode of promotion got them
more response. (those who prefer advertisement)
100%
% OF RESPONSE
0%
Internet
Television
Newspaper
others
MODES OF PROMOTION
INTERPRETATION
People still believe Newspaper as the most trusted and preferred mode of
advertisement if we talk about other modes internet is booming at a quite
fast pace though it is not able to catch the speed newspaper but the soon a
time will come when internet will become the most preferred mode
Other reason why internet mode is still lagging behind newspaper is that
many agents are not computer savy as they don‟t have much knowledge
about computers .
People surveyed to know their view regarding the current popularity of
Internet Advertisement (1 refers – very poor , 5 refers – very good )
5
POPULARITY RATING
0 2 4 6 8 10 12 14 16
NO OF RESPONDENT
INTERPRETATION
After conducting this survey it was thus found from agents and builders
point of view that currently Internet advertisement is quite popular in the
market generally agents who are using internet advertisement find it quite
user friendly and easy to use , whereas who hasn‟t used internet
advertisement still find it to be quite popular as they hear it from their
friends who are in this field.
There where agents who rated it as 1(very poor) as they had invested in
online advertisement but they didn‟t got any response.
Agents and builders surveyed to know their preferred mode of advertisement
INTERPRETATION
Respondents who do internet advertisement said they will not switch to other
mode of advertisement as they find online ad as cost effective , comes in
their budget , more visibility in terms of duration of advertisement.
Agents and builders surveyed to know which online portal provided them
with more response ( if they advertise online)
OTHERS
ONLINE PORTALS
INDIA PROPERTY
99ACRES
MAGICBRICKS
% OF RESPONSE
INTERPRETATION
This was asked to those agents who used internet advertisement as to find
out which online portal gave them more response their was good fight
between Magicbricks and 99acres .
Thus is states that 99 acres and magicbricks are very close competitors of
each other despite magicbricks have upper hand because it falls under the
times of india group
People surveyed to find out whether internet advertisement will become
popular in days to come
60%
50%
40%
% OF RESPONSE 30%
20%
10%
0%
YES
NO
CAN'T SAY
OPTIONS
INTERPRETATION
Most people who has used internet advertisement believed that it increases
the sale of any product and it had a good future ahead due to invent of so
many technology .
Many believed that it will still take time to be the best mode of
advertisement.
FINDINGS
Through survey it was found that are very few brokers who are computer
savvy.
Many agents where were also found as sub-brokers who run their business
through a tea shop.
By research it was found that there are more brokers then agents.
It has been found that mostly builders prefer Internet advertisement as their
main source of advertisement as compared to that of an agent
Before buying any product people look in the internet about its features and
cost to make a decision whether to buy that product or not.
After doing the research it was found that 99acres is one of the main
competitors thus magicbricks should focus on providing more benefits to
their existing as well new client.
Magicbricks should focus on small agents as well ( mainly who are new and
financially not strong) .
Magicbricks has got a good brand image as it comes under Times of India,
so the company must put more emphasis on promoting their portal in local
newspapers and print media.
Magicbricks should also introduce package of low amount which will bring
in more advertisement from agents who have recently started their business.
There has been a significant change in the way small agents and builders operate.
Advertisement has been their main source to promote their business most agents
and builders are changing their mode and switching to Internet advertisement
which comprises of so many benefits by doing this agents and builders are getting
a good responses, as nowadays people are spending more time in the internet as it
provides everything in just a click.
Though there has been a significant rise in online advertisement still Newspaper
advertisement is still hugely demanded as we all know newspapers over a period
have built a strong level of trust and confidence in the people which is unmatched
by any other form of media.
Thus online media has its use as it is booming at a fast pace and is becoming the
choice for agents and builder to promote their business still it comes second after
newspaper in terms of popularity , trust ,response etc. therefore newspaper
advertisement for advertising is the still the best medium to promote business and
it may take more approximately 4-5 years to become the most preferred mode of
advertisement ,.
Questionnaire
NAME:
Age:
Sex:
Locality:
a) Yes b ) No
a) 1 b)2 c) 3 d)4
e)5
9) Which online portal has gathered you more response if you advertise online
?
www.magicbricks.com
www.tbsl.com
www.google.com