ANALYSIS OF ADVERTISEMENT OF REAL ESTATE PROPERTIES BY BUILDERS IN KOLKATA

PRESENTED BY: AMRITA CHATTERJEE BATCH: 2010-12

COMPANY NAME: magicbricks.com (TBSL) INTERNAL GUIDE: Prof. Pradip Dutta

EXTERNAL GUIDE: Mr.Atanu Upadhyay (Zonal manager, magicbricks.com)

COMPANY PROFILE
Magicbricks.com is a real estate property portal Launched by TBSL - August 2006, as a platform to bring together property seekers and sellers in real estate industry

Providing services in over 20 cities across India

Has been using a host of tools like e-mail alerts, sms- alerts, location map service, etc. to cater the need of customers

PRODUCT PROFILE
VISIBILITY SERVICES
BANNERS OTHER VISIBLITY SEVICES

LISTING SERVICES
PREMIUM LISTING COMBO PACK

DATABASE SERVICES
PROPERTY MAILER SMS ALERTS

Objectives
To gather knowledge about different media used by builders for advertising real estate projects and properties Which media are more frequently used for advertising properties than other media Finding out the objective/s of builders for advertising their properties and projects To search for any significant trend of advertising by different categories of builders as per type of media used

Research methodology
Sampling Technique: Structured questionnaire prepared and surveyed through meeting/interviewing different individual builders and representatives/ employee of real estate companies Data Collection : Primary Source Research Instrument: Questionnaire

Sampling Unit: Representatives or employees of the real estate companies and the builders themselves.
Sample Size : 50 units

Sampling Area: Different regions of Kolkata, like DumDum Road, Jessore Road, Salt lake, Howrah, Tollygunj, Garia, other regions of South Kolkata

Limitations of research
Research confined to only certain regions of Kolkata, so result or trend found here may not be applicable in general to entire Kolkata or industry Analysis, findings and recommendations are based on data of 50 respondents surveyed Respondents surveyed were all builders dealing with residential properties only Results of the research may show variations if carried out at a different time period

DATA INTERPRETATION
Respondents surveyed according to the category of real estate builders Respondents Using Any of the media to advertise their properties

35 30 25 20 15 10 5 0

8% Advertise

32
Small enterprise or individual builder

13 Medium enterprise builder

5
Large or Corporate enterprise

92%

Do not advertise

Advertise 46

Do not advertise 4

Extent to which real estate builders rely on word of mouth for spreading awareness and promoting their properties and getting customers
25 20 15 10 5

0
Highly Very much dependent dependent Somewhat dependent Negligible Not at all

42% respondents highly rely on word of mouth, only for 2% of the respondents it is least important medium For 98% of respondents word of mouth is significant in bringing new business opportunities.

Main objective of advertising real estate properties or projects by builders

To attract/gain customers To attract customers & create awareness about properties/project To attract customers& create/spread brand name All of three
0 5 10

12

22

11
15 20 25

24% respondents consider attracting customers as only objective for advertising properties For 44% of the respondents, both attracting customers and creating awareness about their real estate properties are equally important as objectives For 22% respondents attracting customers, creating awareness for their projects and creating or spreading brand name are equally important objectives for advertising their properties/projects

Different media used by builders for advertising their properties

16 14

Builders advertising their properties through more than one media

14

35 30 25 20 15 10 5 0

12 10 8 6

33

31 18

2 0

SMALL ENTERPRISE OR INDIVIDUAL BUILDERS

MEDIUM ENTERPRISE /BUILDERS

LARGE /CORPORATE ENTERPRISE

Print media

Outdoor media

Electronic media

Builder category

Small enterprise/individual
Medium enterprise Large enterprise builder

14
9 4

Respondents Using Print Media For Advertising Their Properties

35 30 25

Typse of print media used by respondents for advertising properties

28%
20

USERS NON-USERS 72%

15 10

33

16
5 0 NEWSPAPER

3
MAGAZINES BROCHURES/FLIERS

USERS 33

NON-USERS 13

All respondents who use print media use newspaper for advertising their properties apart from advertising through other print media

Respondents Using Outdoor media for advertising real estate properties/ projects

Types of outdoor media used by respondents for advertising

22%

33% 67% USERS NON-USERS

BILLBOARDS HOARDINGS

39%

BANNERS
KIOSKS
0% 7% 32%

BOARDS

USERS 31

NON-USERS 15

Of respondents who advertise through outdoor media, many of them use more than one type of outdoor tool for advertising

Respondents using electronic media for advertising their properties

Types of electronic media used by respondents for advertising real state properties

5%

0% RADIO

39% 61% USERS NON-USERS

TELEVISION INTERNET

95%

USERS 18

NON USERS 28

All respondents using electronic media for advertising properties, advertise though internet, one respondent also advertise through radio

FINDINGS
Advertising considered as important tool for creating awareness and for attracting prospective customers Word of mouth serves as the common mode for promoting properties and for getting prospective customers Builders look to fulfill multiple objectives through advertising Most builders preferred newspaper advertisement over others for getting prospective customers Electronic media used by least number of builders surveyed. Significant number of individual builders were found not at all being aware about concept of internet advertising Builders using internet portals for advertising, consider it more cost-effective than other media

RECOMMENDATIONS AND CONCLUSION

Opportunity lies for magicbricks.com to increase its interaction with those with little knowledge about internet advertising, through conducting fairs, events, seminars especially for them Large pool of small and medium enterprise builders and individual builders exists who can become successful business opportunity Magicbricks.com should make its presence more visible by advertising vigorously through various media channels Cost- effective service packages should be introduced for attracting small enterprises or individual builders Efforts should be made to ensure that existing client get responses for their advertisement faster