Professional Documents
Culture Documents
Estate
ANAROCK CONSULTANT
GROUP 10
DEEPANSHU BHATIA
AMAN SINGH
MBA MARKETING 2
2019-2021
MARKETING ANALYTICS
Contents
Abstract ..............................................................................................................................................................................................2
Introduction .......................................................................................................................................................................................2
Review of literature ...........................................................................................................................................................................3
Real-Estate Sector Introduction .......................................................................................................................................................5
Market Size ......................................................................................................................................................................................5
About the Company .........................................................................................................................................................................5
Statement of the problem ..................................................................................................................................................................6
Scope of the study ..............................................................................................................................................................................6
Objectives of the Study......................................................................................................................................................................6
Research methodology ......................................................................................................................................................................6
Area of study ......................................................................................................................................................................................6
All the Analysis done for the project includes following techniques: .................................................................................................6
Research Design: .............................................................................................................................................................................7
Descriptive Research Design-......................................................................................................................................................7
Multi Cross Sectional Research Design- .....................................................................................................................................7
SAMPLING DESIGN .................................................................................................................................................................7
DATA COLLECTION: ...............................................................................................................................................................7
SCALING TECHNIQUES USED IN QUESTIONNARE ..........................................................................................................7
Regression Analysis (using SPSS) ......................................................................................................................................................8
CORELATION (USING EXCEL) ....................................................................................................................................................10
Conjoint Analysis (Using Excel) .......................................................................................................................................................11
Factor analysis (using SPSS) .............................................................................................................................................................13
Factor-1 .........................................................................................................................................................................................16
Factor-2 .........................................................................................................................................................................................16
Factor-3 .........................................................................................................................................................................................16
Factor-4 .........................................................................................................................................................................................16
Factor-5 .........................................................................................................................................................................................16
Data Interpretation: ....................................................................................................................................................................17
Cluster Aanlysis ( using SPSS) .........................................................................................................................................................18
C1 ..................................................................................................................................................................................................27
C2 ..................................................................................................................................................................................................27
C3 ..................................................................................................................................................................................................27
C4 ..................................................................................................................................................................................................27
LEARNINGS & FINDINGS ...........................................................................................................................................................28
Findings: ....................................................................................................................................................................................28
References .....................................................................................................................................................................................29
1
Study on COVID-19 Impact & Consumer Sentiments Towards Buying Real Estate
done at ANAROCK PROPERTY CONSULTANTS PVT LTD.
Abstract
This report includes a comprehensive analysis to study the impact of COVID-19 on purchase of Real estate and factors
influencing the Consumers to buy a Real Estate (Residential/Commercial).
Report begins with about the sector i.e. Real estate sector, how is this sector undergoing, what’s the market situation. Then about
the company information i.e. Anarock Consultants Pvt Ltd. Products & services. What were my Key learnings, findings?
Used different techniques to find results, tools used EXCEL &SPSS, and with what number of factors, analysis can be done
stating consumer behavior through Google Forms (Questionnaire).
Followed by the conclusion i.e. Consumer Sentiments Towards Real Estate can be understood up to 72.4%, using these 5
factors (Basic Amenities, Recreational Facilities, Safety & Security, Expedient Factor & Purchase Facilitations).
• As well, in this COVID-19 scenario buying of Real Estate completely varies from Individual to
Individuals.
• Varying on the basis of Individual’s Personal Disposable Income.
Introduction
Introduction Consumer buying behavior is the sum total of a consumer's attitudes, preferences, intentions, and decisions regarding
the consumer's behavior in the market place when purchasing a product or service. The study of consumer behavior draws upon
social science disciplines of anthropology, psychology, sociology, and economics. Consumer behavior is broadly studied field. It
lets the companies understand how consumer decides about buying their product or acquiring services. Marketing managers are
always interested to know more about consumers’ behavior so they can prepare better communication and advertising campaigns
and messages about their products and services. Consumer makes buying decision every day and many people don’t even know
the factors which derive them to this decision. Usually the factors affecting consumer buying behavior include psychological,
social, cultural and Buying the new home cleaning service involves consumers’ research for the best option available and it might
take various factors in account in its decision-making process. This thesis is about studying factors which most effect on consumer
decision making process when selecting a property. The research work is carried out to highlight the important elements for
customers in the real attestator and let the service provider understand overall picture of customer behavior towards the company
with the help of understanding the factors affecting consumer behavior for choosing a certain service provider. Better
understanding of consumer behavior would let the marketers make the service structure as desired and attractive for the customer
and maintain business activities according to customer demands. This research work would let the customer record their voice in
understanding the companies what kind of service do they want which can improve their life quality with the tailored services by
the service provider and help them to provide better services.
2
Review of literature
The extensive literature review has been conducted to gain deeper understanding of research about online and offline customer
and their experience. The review clarifies and simplifies the dominant dimension consumer consider when they make any online
purchase decision. Following this, the major theoretical gap related to understanding what and why consumers do, and do not
purchase using the Internet is explored with respect to the theories of retail change and consumer behavior theory with particular
reference to the buying decision process. More specifically, the study examined the interrelationships among quality, value,
satisfaction, and loyalty when consumers choose to shop online.
Li and Zhang (2002) examined the representative existing literature on consumer online shopping attitudes and behavior based on
an analytical literature review. In doing so, this study attempts to provide a comprehensive picture of the status of this subfield and
point out limitations and areas for future research. They decided to restrict their search of research articles to the period of January
1998 to February 2002. The other two criteria for selection are the articles are empirical in nature, and the articles measure at least
one of the identified factors in our taxonomy they searched for three Primary IS conference proceedings volumes: International
Conference on Information Systems (ICIS), Americas Conference on Information Systems (AMCIS), and Hawaii International
Conference on Systems Science (HICSS). They also checked the reference sections of the selected articles to identify and include
additional prominent articles in this area. Three out of the five dependent variables (consumer attitudes, intentions, and purchasing
behavior) and three out of the five independent variables (personal characteristics, vendor/service/product characteristics, website
quality) receive the most attention. This seems to constitute the main stream of research in this area. It is found that personal
characteristics, vender/service/product characteristics, and website quality significantly affect online shopping attitudes, intention,
and behavior. The direct implication of these findings is that targeting more appropriate consumer groups, improving product
and/or service quality, and improving website quality can positively influence consumer attitudes and behavior, possibly leading
to increased frequency of early purchase and replication purchases on the part of customers. This methodological matter wants to
be addressed in upcoming research so that a validated instrument can be developed for evaluating consumer online shopping
approaches and behavior.
Chafing and Dholakia (2014) carried out a study in which they examined the purpose the customer to purchase goods online
during their shopping. Mainly there are three Variable in their study those affects the consumer to purchase online or to go offline.
Those are the accessibility features of the shopping sites, the type of the products and their characteristic, and the actual price of
the product. The study revealed that the accessibility and the convenience of the shopping sites create the intention in the customer
to purchase or not. When there are difficulties faced by a consumer to purchase online then the customer switch to the offline
shopping for the purchase behavior and the consumer face difficulty in offline purchasing then they go to the online purchasing.
After relating both the medium of shopping the consumer said that the online shopping is more convenient for them and gives
more satisfaction which inspires the consumer to purchase online in the internet.
Ayer and Eastman (2014) found that the population of senior who are more literate, more knowledgeable and who are more aware
of the technology and those who have a positive behavior towards online shopping and internet are more into online shopping. But
the population of senior who are less aware of the internet and the shopping sites are less involved in the shopping sites because
they do not have a positive attitude towards online shopping rather, they are much more interested in offline shopping and the
seniors who are more involved in the internet uses more online sites for purchasing the goods over the internet. The senior which
have more knowledge about the internet and the shopping sites they compare both the shopping i.e. online and offline shopping
for their purchasing of goods. However, their knowledge and the use of internet by them has no connection with their age and
their satisfaction level while purchasing online.
Sivakumar (2014) concentrated on consumer’s perception of the product sold online and the issues considered important to online
shopping. This study was conducted among the online shoppers at Coimbatore which is in Tamil Nadu state. It is to analyze the
impact of consumer opinion and the attitude. Questionnaire was made to collect the data from the population; these questionnaires
were given to college going students. The total sample size is 150 respondents. The finding of this study shows that improvement
and accessibility influence the customer’s intention to shop online.
Hahn and Kim (2009) examined the influence of consumer trust and perceived internet confidence on consumer apparel shopping
intention through internet or the online retailer operated by a multichannel retailer. A total of 261 students in a large US
Midwestern University participated in the paper-based survey and provided usable responses. Structural equation-based modelling
was used to test hypothesis. They found that the consumer trust in an online retailer was a significant predictor of perceived
internet confidence and search intention for product information through internet retailer. Search intention for product information
through the online store and perceived internet confidence were significant and strong predictors of consumer’s behavioral
intention towards the online shopping. The findings of this study suggest that retailer of offers an internet channels as part of
multi- channels retail strategy and provide consistent service throughout their various channels.
Real-Estate Sector Introduction
The real estate sector is one of the most globally recognized sectors. Real estate sector comprises four sub sectors - housing, retail,
hospitality, and commercial. The growth of this sector is well complemented by the growth of the corporate environment and the
demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14
major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in both the short term and the long term.
Bengaluru is expected to be the most favored property investment destination for NRIs, followed by Ahmedabad, Pune, Chennai,
Goa, Delhi and Dehradun.
Market Size
Real estate sector in India is expected to reach a market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017 and
contribute 13 per cent of the country’s GDP by 2025. Retail, hospitality and commercial real estate are also growing significantly,
providing the much-needed infrastructure for India's growing needs.
Sectors such as IT and Its, retail, consulting and e-commerce have registered high demand for office space in recent times.
Commercial office stock in India is expected to cross 600 million square feet by 2018 end while office space leasing in the top
eight cities is expected to cross 100 million square feet during 2018-20. Gross office absorption in top Indian cities has increased
26 per cent year-on-year to 36.4 million square feet between Jan-Sep 2018. Co-working space across top seven cities has
increased sharply in 2018 (up to September), reaching 3.44 million square feet, compared to 1.11 million square feet for the same
period in 2017
If we critically analyze the research report, we could see that buying behavior is dependent on many factors and is a result of
multiple different considerations. The project has been carried out so as to find out the different aspect of buying and find out why
the customer behave in such ways; we have found different parameters and relation between variables and also segmented
customers on the basis of various attributes through which they make their purchase decision.
The research would help in understanding the different buying pattern of consumer for real estate sector. This would help the
marketer to place a product accordingly at the right place and at the right price also. The marketer would easily get an idea about
which product category to place where and for what segment so that It would capture maximum crowd at the lest possible time
and at least price. The whole crux why market researches are carried out is to find out the gap through research and minimize the
gap.
Research methodology
Area of study
The area of the research was confined to India
All the Analysis done for the project includes following techniques:
• Regression Analysis
• Correlation
• Conjoint analysis
• Factor analysis
• Cluster analysis
.
Research Design:
CONCLUSIVE RESEARCH DESIGN
SAMPLING DESIGN
Target Population: The population was individuals who is a student, Business Individual, Working Professional
or any type of Individuals
Sampling unit: The sampling unit is each member of target population who is a student, Business Individual,
Working Professional, or any type of Individuals
Sampling Size: The sample size for the study was 50 individuals.
Sampling Method: Stratified Sampling Method (Probability) is used. Proportionate Stratified Sampling is used in
Probability Sampling.
DATA COLLECTION:
Primary data: Primary data was collected by means of questionnaires through google form.
ANOVAa
Total 15713732000.000 4
DI: The value of R^2 is significant as indicated by the p value (0.038), i.e. less than 0.05 of F statistic.
Model Summary
DI: R square equals 0.822, indicating 82.2% of variations is explained by Independent variables (Price and Income)
on Dependent variable (Sales).
Coefficients
• Income is relatively more important than price for explaining the sales. This can be observed from
absolute value of standardized coefficients (Beta) table i.e. (0.728) Income followed by Price (0.205)
• Income is positively related with sales as coefficient for Income variable is positive (0.058).
• Price is negatively related with sales as coefficient for Sales variable is negative (-0.006)
• Income goes up by 1 unit, the sales will go up by 0.058 units, while keeping price constant.
• Price goes up by 1 unit, the sales will go down by 0.006 units, while keeping income constant.
• Income significantly influences the sales whereas impact for price is insignificant. This is evident from p
value i.e. 0.016 (Income) and 0.545 (Price).
• The Significance of coefficient is indicated if p value is less than or equal to level of significance (alpha),
which is assumed to be 0.05 in the present case.
• Price Elasticity of Demand: Price coefficient value * (P bar/Y bar)
• -0.006*26.5= -0.2%
• If price goes by 1%, then quantity sales decreases by 0.2%, while keeping income constant.
• Income Elasticity of Demand: Income coefficient value * (I bar/Y bar)
• 0.058*7.2= 0.4%
• If Income goes up by 1%. Then quantity sales increases by 0.4%, while keeping price constant.
CORELATION (USING EXCEL)
Years Disposable Total NCR MMR Bangalo Pune Hyderab Chenn Kolkat
Family Units re ad ai a
Income Sold in
7
Cities
(Sales
in
Units)
2013 500000 318200 118000 67500 47500 36400 11600 24700 12500
2014 700000 342700 114500 77300 53700 46200 11300 23000 16700
2015 900000 307800 76700 65300 64500 45700 16000 24300 15300
2016 1100000 227700 47900 69600 43300 31200 1200 17700 16800
2017 1300000 197400 37600 52600 42200 23900 15100 13100 12900
(Correlation) -0.8996
R=
Data High Degree of Negative
Interpretation Correlation
It concludes that increase in Disposable Income of Individuals doesn't impact (Decrease) sales
of units and vice versa.
R^2= Coefficient of Determination- 0.8093. This would mean that 80.93% variation in
dependent variable (Sales in Units) is explained by Independent Variable (Disposable Income
of Individuals)
Linear Relationship: y=-0.1783x + 439230
350000
300000
Sales in Units
250000
y = -0.1783x + 439230
200000 R² = 0.8093
150000
100000
50000
0
0 200000 400000 600000 800000 1000000 1200000 1400000
Disposable Income
Conjoint Analysis (Using Excel)
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.63427
R Square 0.402299
Adjusted R
Square -0.04598
Standard
Error 1.274755
Observations 8
ANOVA
Significance
df SS MS F F
Regression 3 4.375 1.458333 0.897436 0.516064
Residual 4 6.5 1.625
Total 7 10.875
df 253
Sig. .000
Initial Eigenvalues Extraction Sums of Squared Loadings Rotation Sums of Squared Loadings
Component
1 2 3 4 5 6
Note: Focus Group Discussion was not possible because of this Pandemic Situation, so only Personal
Interviews were taken.
Basic Amenities Recreational Facilities Safety & Expedient Factor Purchase Facilitations
Security
Factor-1 Factor-2 Factor-3 Factor-4 Factor-5
[Easy Register [Promotional offers] [Availability near [Layout of house] [Attractive deals offered by
Process or connectivity of developers]
Formalities] Transport (Metro, rail,
bus or others)]
[Fire system in [Gym facility] [Increased levels of [Reputation of Builder] [Availability of cheaper home
Building] Future value of loans]
Property]
[Appropriate water
supply system]
[Parking Facility]
[Number of
Rooms/bedrooms]
[Location]
Data Interpretation:
• Consumer Sentiments Towards Real Estate can be understood up to 72.4%, using these 5 factors.
• Therefore, these 5 Factors are analyzed from different factors falling under each component of Rotated
Component Matrix Table which is calculated by Performing Factor Analysis. So, instead of measuring 23
different Items we can use the above 5 Items or factors to measure Consumer Sentiments Towards Real
Estate. These 5 Factors can help to Understand Consumer Sentiments Towards Real Estate up to 72.4%
(This 72.4% is derived from Total Variance Explained Table at Eigen Value of 1.097 & KMO Value of
0.778)
• As well, in this COVID-19 scenario buying of Real Estate completely varies from Individual to
Individuals.
• Varying on the basis of Individual’s Personal Disposable Income.
• Rest of conclusions can be drawn from above observations & Interpretations.
Cluster Analysis (using SPSS)
DATA INTERPRETATION/ANALYSIS:
IDENTIFYING who belongs to which cluster, this can be derived from Cluster Membership Table, that is
derived from Non- Hierarchical structure- K means cluster.
1 C1
2 C1
3 C1
5 C1
7 C1
10 C1
14 C1
15 C1
16 C1
19 C1
20 C1
6 C2
17 C2
18 C2
9 C3
12 C3
4 C4
8 C4
11 C4
13 C4
Cluster Membership
1 1 2.441
2 1 3.241
3 1 2.869
4 4 2.500
5 1 2.365
6 2 2.380
7 1 1.746
8 4 2.062
9 3 1.581
10 1 2.422
11 4 1.803
12 3 1.581
13 4 2.291
14 1 1.746
15 1 1.432
16 1 1.746
17 2 1.826
18 2 2.236
19 1 1.582
20 1 1.896
Number of Cases in each
Cluster
1 11.000
2 3.000
Cluster
3 2.000
4 4.000
Valid 20.000
Missing .000
Identified the variables that distinguish the segments at 99% confidence level
Only those variables will be significant that has ‘p’ value less than 0.01 (99% confidence level).
This can be derived from ANOVA Table as follows: 10 Distinguishing Variable are significant for
formulating clusters:
ANOVA
Cluster Error
Mean Mean
Square df Square df F Sig.
[Availability near
connectivity of
Transport (Metro, rail,
bus or others)]
.528 3 .135 16 3.897 .029
[Recommendation of
Family & Friends]
.511 3 .589 16 .868 .478
[Easy Register
Process or Formalities]
1.749 3 .222 16 7.876 .002
[Reputation of
Builder] .858 3 .624 16 1.375 .286
[Increased levels of
Future value of
Property] 2.141 3 .161 16 13.302 .000
[EMI or Instalment
Based payment plans]
.771 3 .165 16 4.680 .016
[Fire system in
Building] .717 3 .428 16 1.676 .212
[Booking amount] .802 3 .509 16 1.576 .234
[Proper space of
corridor] 1.888 3 .180 16 10.465 .000
[Proper sewerage
system] 1.928 3 .073 16 26.438 .000
[Appropriate water
supply system]
.847 3 .104 16 8.168 .002
[Number of
Rooms/bedrooms] 1.125 3 .223 16 5.033 .012
[Promotional offers]
2.413 3 .357 16 6.758 .004
[Attractive deals
offered by developers]
.506 3 .480 16 1.054 .396
[Availability of
cheaper home loans]
.873 3 .136 16 6.400 .005
[A sense of security
that physical assets
provide] 1.158 3 .192 16 6.024 .006
The F tests should be used only for descriptive purposes because the clusters have been chosen to
maximize the differences among cases in different clusters. The observed significance levels are not
corrected for this and thus cannot be interpreted as tests of the hypothesis that the cluster means are
equal.
Created Segment Profiles for each Cluster based on their scores on the distinguishing variables.
Cluster
1 2 3 4
[A sense of security that physical assets provide] 1.09 1.33 2.50 1.50
Cluster Label
C1 Middle class
C3 Affluent
C1
• The people have very important need for price and their buying behavior is depend on that
• These people have very high expectation from the property even if they buy at a lower price because they
have been wanting everything and agrees strongly on the factors
• As price is a concern for them and their buying pattern describes the buying pattern of a middle-class
family
C2
• The buying pattern makes me feel that they are first time buyers of the house and so want all the features
and expected to be a married man/ family man
C3
• The price does not so much is concern for these people compared to the other clusters and they are lethargic
too and do not give importance to recreational features.
C4
• These people seem to invest their asset and since can be seen to get maximum output form the money they
have invested and looks for all the features in a property and all the recreational facility in it
LEARNINGS & FINDINGS
Learnings: Through the project we learnt how to do different types of analysis and how to
interpret them using excel and SPSS,
Findings:
all the findings have been denoted at the end of every analysis and have been aptly
interpreted to the best of the knowledge
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