MGT401: Strategic Management

Spring-2021

Term Paper
On
New Real Estate Marketing Trends in Bangladesh: A perspective on
Bproperty Dot Com Limited

Submitted By:
Student Name: S.M. Rezwan Uddin
Student ID: 18104165
Section: 05
Spring-2021

Submitted To:
Instructor’s Name
Dr. Rafi Uddin Ahmed
Professor, Brac Business School
Brac University

Date of Submission: 15th September, 2021

 An Overview of BProperty.com
Introduction:
Bproperty.com is a large real estate firm that has greatly increased in size in recent years,
creating and influencing real estate marketing trends in the country. It's essential to customize
most of the company's effort to fit with consumer and industry standards. In Bangladesh, the real
estate business has been unable to grow and expand as quickly as other industries due to several
problems. Among them are numerous causes, including a dysfunctional licensing system, not
enough records and data, and corruption. To be clear, indecision is extensive and threatens to
obstruct the advancement of the entire business. And thus, Bproperty arrived to this nation with a
saying that they were the "Only Real Estate Solution Provider of Bangladesh" and a goal to
achieve recognition as a recognized brand for all types of property transactions for instance, sale,
purchase, and rent. Moreover, they want to give their clients excellent options to solve whatever
real estate issues they have, and to make the notion of real estate solutions easy to reach. They
are doing their best to alter the face of the Bangladeshi real estate business by introducing rules
and regulations, and services which focus on the consumer. However, for better promotion their
products and services, companies need to include more self-confident ways of making the public
aware of what they provide. Their goal is to maximize contact potential by ensuring that each
client feels comfortable contacting them. Bproperty.com has real estate listings for property
available for purchase and rent. Its two primary locations are Dhaka and Chittagong, where it
does business all across Bangladesh. The company's main location is in Dhaka, Bangladesh. It is
estimated that in December 2021, the website would be receiving more than a million views per
month and over 90,000 monthly visits. Currently, this website includes over 180,000 properties
for sale, 3,000 real estate brokers, 1,500 developers, and 50,000 users that are registered.
The goals of Bproperty.com are to provide exceptional service for customers by streamlining the
property search, purchase, sale, and rent process. In order to establish long-term business
connections with property owners in Bangladesh, Bproperty provides the property's purchasers
and sellers with legal guidance.

7Ps and Business Strategy of Bproperty:

Since customer, business and product preferences evolve quickly, the 7P format has to be
continuously revised. Because we want to get ahead and prosper before our opponents.
Products & Services:
A product is developed or customized to meet the demands of a specific group of individuals. As
with services or goods, the product might be subjective or concrete. They must ensure that the
proper product form is demanded in our market. Bproperty offers the following B2B products
such as exclusive marketing and sales, non-exclusive marketing and sales, secondary marketing
and sales and rental support. Moreover, Bproperty offers the following b2c products such as
residential apartments, commercial spaces, residential and commercial rentals and land
properties
Place (Location & Distribution System):
In terms of place, Bproperty has already the best time and place to ensure optimum profit for the
company is determined when and as the amenities are made available to consumers. The website
for the Bproperty is the major channel for all forms of property purchases, sales and rental. The
website is anticipated to receive over one million views per month in December 2021 and more
than 90,000 visitors per month. The platform currently consists of around 180,000 sales
properties, 3,000 property brokers, 1,500 developers and 50,000 registered users. Furthermore,
the sales team communicates personally with potential online marketing leads and the customer
support team works with the leaders who are the directors of the hotline number communication
and communication between the business development team and B2B.
Pricing Strategy:
The price of the good or service of Bproperty is essentially the money that the consumer has to
ensure the value. The prices of the buildings are for the purchasers of all properties and there is a
transaction between the purchaser and the sellers or suppliers from which Bproperty takes
different services depending on the project location. Actually, based on the customer
segmentation, they are following price penetration strategy to capture the maximum customers.
Promotional Strategy:
To succeed in PR, establishing a presence in the media is crucial. Print media is excellent for
this, and there are big waves in internet communities as well. On the other hand, online news
portals have everything to do with the firm such as- upcoming projects, recent updates, new
events, and many other news. Bproperty ensures that they are delivering the information and
providing them with the direction for their writing. Moreover, The PR staff makes care to garner
the attention of customers regardless of the channel they choose to follow news.
Despite the digital media team handling a majority of this, the PR and digital media teams are
working together on all of the tasks. Both virtual and real events are given equal importance
when coordinating happenings. The digital marketing team gets to work on this once
everything's been completed. First, they work on the campaign design, post publishing and
planning then they begin.

Physical Evidence:
Often physical evidence can be obtained to show a corporation and its services on the market.
Physical proof of service delivery should be provided in the services sectors. This is the physical
evidence of the existence and establishment of a business. Bproperty offers eight Bangladeshi
corporate offices that exceed international standards. Customers feel that Bproperty is their right
pace with excellent markets, disciplined and managed employees and an overall work
environment and company communication method.
Process:
Bproperty’s BD Department works with the Marketing Team to take responsibility of their own
branding and promotion efforts as well as to promote the projects for which they are responsible.
By using Virtual Tour Videos and Facebook Live Sessions on the Bproperty website to promote
their projects. Then they want the Operations Team to make sure that the listings and Virtual
Tour Videos are ready for publication on the website. Finally, First-line sales reps on the Primary
Sales Team have access to the Primary Project Checklist, which contains the project information
they need to sell project-allocated items.
People:
The key employees of Bproperty are crucial to the firm's marketing efforts since they represent
the brand to the public. An organization with thousands of workers, Bproperty, is focused on real
estate. There is a Business Development, HR, Marketing, PR and Customer service departments.
Bproperty's head of department, Mr. Khondoker Rejbeen Ahsan who serves as both the
department head and Bproperty's GM. There is a very effective team that is overseen by Mr.
Khairul Alam who is the Business Development Manager. Mr. Alam's team includes an
Assistant Manager, two Senior Executives, four Executives and other members. The team is
striving to satisfy the needs of the developers and successfully present and deliver projects to
them in meetings and presentations.

SWOT Analysis:
Strengths:
Location Advantages:
Bproperty has covered more than eight area offices inside Dhaka. In addition, they have one
office in the Chittagong division to reach a diverse range of consumers in both the capital and the
country. Bproperty.com features real estate listings for both for sale and for rent. Its two main
offices are in Dhaka and Chittagong, from where it conducts business across Bangladesh. The
headquarters of the corporation are in Dhaka
Service Authenticity & Variations:
As the country's first real estate solution provider, Bproperty offers both online and offline
services. The website is expected to receive over a million views per month and over 90,000
monthly visits by December 2021. This website currently has around 180,000 homes for sale,
3,000 real estate brokers, 1,500 developers, and 50,000 registered members.
A Powerful Presence in the Industry:
The purpose of Bproperty is to enhance contact potential by making each client feel comfortable
contacting them. Bproperty wishes to provide their clients with outstanding options for resolving
any real estate concerns they may have, as well as make the concept of real estate solutions
accessible to them. They are working hard to change the face of the Bangladeshi real estate
industry by establishing new laws and regulations, as well as consumer-focused services.
Dedicated Customer Service:
Customer service has aided this company in effectively communicating with our customers and
developing solid relationships with a broader audience all over the world. It has assisted them in
retaining clients, generating favorable endorsements, online reviews and ensuring the business's
long-term viability in the industry.
Massive Financial Investment:
In order to grow its presence in Bangladesh, Bproperty.com has received a $10 million
investment from its parent business named Emerging Markets Property Group (EMPG). This is
one of the largest investments ever made in a single internet platform in Bangladesh's history.
Resilient Legal Assistance:
Bproperty’s legal services manage the company's legal activities to ensure optimal protection of
the company's legal rights and proper fulfilment of the company's legal duties. They also assist
customers in filling out all legal paperwork and provide information about our country's property
laws so that they are not oblivious of any ends, which helps both the company and the consumers
to make the process of offering the best property resolutions at ease.
Weaknesses:
Less Support from the Industry:
Due to a variety of issues, the real estate industry in Bangladesh has been unable to grow and
expand at the same rate as other industries. So, it is impacting their business operations.
Less Training Sessions for the Employees: There is less training opportunity in Bproperty for
the betterment of the employees.
Lack of Tools & Data Sufficiency: In Bproperty, they are trying to create a digital map with all
properties and due to lack of data, they cannot give the full list of their services. Sometimes, the
required photos of interior area of buildings enlisted for rent or sell are not arranged properly.
Opportunities:
 Bproperty can expand the services to around other major cities so their business can be
expand to generate more revenues.
 They should present internal designing home service in their service collection.
 Because they deal with so many properties, Bproperty needs to build a real-time
database.
 Digital marketing can be introduced to promote their band images.
Threats:
 Sometimes the new customers may think that Bproperty is playing the role of brokers and
that can affect their brand image.
 There are some individual brokers and builders who can be threat for this company.
 Due to the new competitors, the expansion of additional real estate solution providers in
the industry.
PESTEL Analysis:
Political & Legal Forces:
Political forces are important in determining the aspects that can affect Bproperty. To operate
their activities in Bangladesh is exposed to various forms of political environment and political
system risks. To be successful in such a dynamic market, it is necessary to diversify the
systematic risks of the political climate which is stable in our country. There are several factors
such as political stability as well as the importance of the real estate sector on the economy of the
country, corruption level, Bangladeshi Government bureaucracy and intervention in the real
estate business, contract enforcement legal framework, tariffs Favored trading partners, antitrust
laws and tax incentives can be consider factors in political forces.
Economic Forces:
In terms of economic forces, Bproperty needs to consider the factors such as form of economic
system in Bangladesh and its Government involvement in the free market. Moreover, real estate
exchange rates and currency stability in the host country, the standard of infrastructure in the real
estate business, comparative advantages of the host country, labor costs can enhance the
economic productivity in this particular industry. Bproperty’s expenditure discretionary income,
the rate of unemployment, interest and inflation rates can play a significant role to expand this
business.
Technological Forces:
Bproperty should conduct not only a technological analysis of the sector but also a speed
analysis of how quickly technology affects that industry. Slower speeds provide more time, yet
faster speeds of technology disruption may provide Bproperty with limited time to adapt and
remain profitable. By observing the competitors, recent technical advancements and the impact
on the real estate industry's cost structure can impact on technological diffusion.
Social Forces:
In Bangladesh, the culture and method of doing things in our society have an impact on the
culture of an organization in an environment. The population's shared views and attitudes play a
significant influence in this industry. Trust is an issue for the clients of a given market and build
the marketing message for the consumers. In our society, there is a class structure and high
power distance so the level of education as well as customers’ perceptions matters a lot in the
real estate industry.
Environmental Forces:
If there is any change in the climate then it may affect the real-estate industry. The enforced laws
governing pollution in the environment, regulations on air and water pollution in the real estate
business, recycling and waste management in the real estate Industry are the significant forces in
the industry. Therefore, the green environment and its environment-friendly approaches need
support for renewable energy and protect the environment.

Marketing Strategy:
Bproperty.com always tried to ensure their services with the greatest solutions to the targeted
group of customers. Actually, their real estate property solutions are accessible for Bangladesh's
real estate business by introducing authenticity, rigorous laws, and customer-friendly techniques.
Initially, Bproperty has introduced their operations by educating their customers about the
products or services but they have now shifted to a more aggressive approach of 360 degree
marketing strategy. As the company believes that people, particularly from city inhabitants in
their operation areas are aware of Bproperty’s services and that it is now time to reach out to
them. Bproperty plans and executes Above the Line, Below the Line, Trough the Line and digital
marketing operations in Bangladesh.
To broaden the horizon of communication to the mass people uphold brand value on a newer
scale in the global economy. As a result, Bproperty's first step was to publicize individuals with
its offerings. After four years of hard work to raise awareness in Dhaka and other major cities in
Bangladesh, Bproperty aspires to be a household name for any property-related issue.

Promotional Strategy:
Bproperty has their Marketing & Public Relations Department assisted the organization in
experiencing unanticipated expansion sprays and impact in the corporate sector from numerous
angles. Many bright minds working in four teams under this department such as Content, Digital
Marketing, Audio Visuals and PR collectively formulate many new marketing and promotional
strategies.
Bproperty has undertaken an approach which is known as 360 degree marketing technique to
accomplish this. It suggested a marketing campaign in which customers are contacted at all
conceivable points of contact, ranging from traditional media to social media and offline
activation. It increases the possibility of finding new potential customers and engaging them in a
variety of ways. Facebook, Instagram, LinkedIn, Pinterest, SEO for blog articles, Twitter and the
official website and social media post promotion are the ways to promote the existing services of
Bproperty

Financial Strategy & Investment:

Bangladesh's real estate market has grown dramatically in recent years and Bproperty, country's
agent of EMPG, has been a major player in it. The major traits are to its innovative use of
technology and provision of one-stop solutions. Now, the Bangladeshi market has the highest
potential. In order to grow its presence in Bangladesh, Bproperty.com has received a $10 million
investment from its parent business named Emerging Markets Property Group (EMPG). This is
one of the largest investments ever made in a single internet platform in Bangladesh's history.
Bproperty also began the year by outright acquiring another company named Lamudi
Bangladesh.
Bproperty's rental segment was also enhanced by last year's investment, as evidenced by the
launch of the country's first rental marketplace. Furthermore, the financing aided Bproperty in
establishing itself as a formidable brand in Bangladesh. Similarly, the $150 million investment in
EMPG may result in more funding for the program.

MoU with Other Partners:

Actions to be taken by Bproperty:
Based on project details, a post-meeting checklist is generated by Bproperty. This is used to
create a list of inventory items. Respectively, every items on the project checklist has a price
attached to it.
Obtaining Legal Documents:
If the developer decides to sign an MOU with Bproperty then they will gather all legal
documentation. Closing allotment memo and measurement certificate for RAJUK, current land
tax DCR, mutation porcha and RAJUK Lease Deed are required during this MoU Signing.
Signature on a Memorandum of Understanding:
After securing and finalizing legal post-MoU projects, the Developer Company and Bproperty
sign the MoU.
Process:
 The BD Department works with the Marketing Team to take responsibility of their own
branding and promotion efforts as well as to promote the projects for which they are
responsible.
 Bproperty's BD Department uses Virtual Tour Videos and Facebook Live Sessions on the
Bproperty website to promote their projects.
 They want the Operations Team to make sure that the listings and Virtual Tour Videos
are ready for publication on the website.
 First-line sales reps on the Primary Sales Team have access to the Primary Project
Checklist, which contains the project information they need to sell project-allocated
items.

Question no (1): What are the recommendations can be suggested for Bproperty to
overcome their potential challenges?
Answer:
Obstacles and Resolutions of Bproperty:
There is confusion about the offerings of the industry leader, Bproperty.
Many renters are unsure about who pays for property. So, digital media communication in the
form of infographics or 2D animation film may be quite helpful.
No photographs show inside the apartments they offer to sell, rent, or purchase. Customer
dissatisfaction is often due to this. For best results, it is important to ignore the issue altogether.
The level of training and professionalism across the board is sorely lacking. Maintaining
vigilance when recruiting and running additional training sessions can both help reduce the
likelihood of new hires having trust issues.
Area mapping is not easy or precise for users. Better infrastructure and technological assistance
might vastly improve the situation.
Most people see the firm as “broker”, as brokers have a low reputation in Bangladesh, and as a
result, the image of the brand doesn't resonate with our citizens. The worldwide brand's
association with other global entities might provide additional news about its participation with
notable builders, which may lead to increased brand legitimacy.
Question no (2) - What precautions Bproperty should adopt to remain safe from its
competition?
Answer:
Trustworthiness is a huge challenge in coping with something like life that changes like
immobilization. Brokers in Bangladesh have created a wrong image as middlemen for property
and they are well recognized for their unplanned, unsustainable and pricey practices. Choice and
transparency are the fundamental differences, but not alone. There are over 30,000 active listings
on the website of the property via which viewers can find a property that satisfies their
requirements. Every method, phase and purpose is clearly explained when you approach
Bproperty with the requirement of property counsel to ensure full understandings.
In the case of real estate transactions, Bproperty delivers a simplified, speedier and easier process
where all demands for your property are handled in one place: a one-stop solution. They provide
a platform for owners and landlords to sell or rent their property, and even marketing it for them.
Developers with Bproperty have their own website, and Bproperty is actively marketing the
developer's stock to create sales more efficiently and effectively, given the high demand for
property solutions on the part of consumers. In order to buy, sell and rent real estate on this
platform, Bproperty can take these precautions to remain safe from its competition.