Description
Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of complexity.
A
PRO1ECT REPORT
ON
“A STUDY ON CONSUMER BUYING BEHAVIOUR
TOWARDS RESIDENTIAL PROPERTIES IN PUNE CITY”
FOR
“KUMAR BUILDERS”
BY
GUNDYAL GOPAL NAGESH
(Batch 2006-08)
UNDER THE GUIDENCE OF
PROF. MAHESH GADEKAR
SUBMITTED TO
“UNIVERSITY OF PUNE”
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR
THE AWARD OF THE DEGREE OF MASTERS OF BUSINESS
ADMINISTRATION (MBA)
THROUGH
VISHWAKARMA INSTITUTE OF MANAGEMENT
PUNE-48.
1
A
PRO1ECT REPORT
ON
“A STUDY ON CONSUMER BUYING BEHAVIOUR
TOWARDS RESIDENTIAL PROPERTIES IN PUNE CITY”
FOR
“KUMAR BUILDERS”
BY
GUNDYAL GOPAL NAGESH
(Batch 2006-08)
UNDER THE GUIDENCE OF
PROF. MAHESH GADEKAR
SUBMITTED TO
“UNIVERSITY OF PUNE”
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE
AWARD OF THE DEGREE OF MASTERS OF BUSINESS
ADMINISTRATION (MBA)
2
THROUGH
VISHWAKARMA INSTITUTE OF MANAGEMENT
PUNE-48.
Acknowledgement
3
Before we get into the thick of the things I would like to add a few heartfelt
words for the people who were the part of this project in numerous ways people
who gave unending support right from the stage the basic idea was conceived.
This dissertation from a part of my two year .B.! programme and is in
partial fulfillment of the re"uirement of their in reference.
I acknowledge with sense of reverence my gratitude towards the
management of Kumar Builders. #or providing me an opportunity to work as a
summer trainee in their esteem organi$ation.
I want to give special the %& anager and other staff of the company who
helped me to complete the project. I also thank my Director Dr. Sharad L. 1oshi
and my internal guide Prof. Mahesh Gadekar for guiding me from time to time.
CONTENTS
Sr.No. Topic Page. No.
'
1 Executive Summary of Project 01-02
2 Objective Of The Study (3)(*
2.1 +bjectives (3
2.2 ,cope +f The ,tudy ('
2.3 -imitations (.
2.' /eed 0 ,ignificance +f The ,tudy (*
3 Company Profile 07-18
3.1 Introduction To 1ompany (2
3.2 Branches 0 +ffices 12
3.3 !chievements 0 !wards 13
3.' 3roducts &ange 0 4ariety 1'
3.. +rganisation ,taff 0 5esignation 1*
3.* -ist of 1ompetitors 16
4 Theoretical Background 19-32
5 Research Methodology 33-35
6 Data Analysis and Interpretation 36-44
7 Findings 45-46
8 Conclusion 47
9 Recommendations 48
Annexure
Bibliography
49-51
52
.
Chapter 1
Executive Summary
Chapter 2
*
Objectives of the Study
2
Chapter 3
Company Profile
6
Chapter 4
heoretical !ac"#round
7
Chapter $
%esearch ðodolo#y
Chapter '
1(
(ata )nalysis
and
*nterpretation
11
Chapter +
,indin#s
12
Chapter -
Conclusion
13
Chapter .
%ecommendations
1'
)nnexure
1.
!iblio#raphy
1*
1. Executive Summary
This study is related to construction industry in India. %eightened reali$ation
on the part of all stakeholders that infrastructure would play a key role towards
pushing India8s 953 to the desirable 6 percent mark has come as a boon for India8s
construction industry.
The industry is riding a growth wave: which is evident from the financial
results posted by some of the leading contractors. %owever: the industry is faced with
certain challenges. The need to be price competitive: adherence to safety: "uality
consciousness: adapting to technological changes: developing and using new
construction materials and having an ade"uately trained manpower are issues that
industry must look into and address.
;The construction sector: therefore: has to gear up fully to take on the ever)
increasing challenge.;
This study was basically concern with consumer buying behaviour towards
residential properties in 3une city with reference to <umar Builders 1onstructions.
The basic objective behind carrying this study was to study the property purchasing
behaviour i.e. =&esidential> of different types of customer in different area in 3une
city: to study the various factors affecting the customer)buying pattern especially in
case of residential properties and to search out new prospects for <umar Builders
1onstruction.
!fter completing this study it was found that ma?imum respondents are
having the resident on rental: it was also found that price 0 location is major factor
which are consider by the customer at the time of purchasing the residential property.
The @"uality8 0 @facilities8 are most considerable parameters at the time of selecting
12
residential property. It was also found that demand of the 2 0 3 B%< flats were more
to comparing other types of residential properties.
!fter going through this study I would recommend <umar Builders that they
should try to decrease #ive star amenities with a view to cut down the property prices
and there by attracting the middle class: and also actively participate and organi$e
property e?hibition: trade shows: hoardings: etc. to create awareness in the market.
They should reduce the maintenance charges and should concentrate on 1&
activities: such as loyalty to create strong good will and gain new customer.
16
2.1 OB1ECTIVES
? To study the property purchasing behaviour i.e. =&esidential> of different
types of customer in different area in 3une city.
? To study the various factors affecting the customer)buying pattern
especially in case of &esidential properties.
? To find the e?pectations 0 needs of customers from <umar Builders
1onstructions.
? To find the opinion of the customers with regard to various schemes
available or schemes offered by <umar Builders constructions.
? To find out the near competitors for <umar Builders 1onstructions.
? To find out the period in which the customers are more willing to purchase
&esidential properties.
? To search out new prospects for <umar Builders 1onstruction.
17
2.2 SCOPE
This study will be beneficial to <umar Builders 1onstructions to know about
customers buying behaviour towards &esidential properties in 3une city. The
company can come to know various factors affecting the customers8 properties buying
behaviour.
1ompany comes to know about customers e?pectations 0 need for future
properties purchases. The sample si$e taken for this project is 1(( &espondents.
%ence: this market study will provide information to 1ompany: and
1ustomers.
2(
2.3 LIMITATIONS
1> The survey was restricted to selected areas in 3une 1ity only.
2> The time duration of this survey was .( days only.
3> &ainy season was main hurdle for this survey.
'> The response from the respondents was fair enough but not up to the mark or
good enough.
.> This project was only restricted to the residential properties of <B1 0 not
commercials 0 others.
*> The survey area were too far as the city is big enough which caused many
transportation problem.
21
2.4 NEED & SIGNIFICANCE
The study conducted is 3une city reflects the market position of <umar
Builders &esidential 3roperties. It gives us the details of various factors of buying
behavior of customers. The study enables the company to prepare marketing strategy
and plan accordingly: so as to capture a greater market share0 the services provided
by the company. It foresight the future re"uirement of the market and thus helps the
manufacturer to face the future completion in a fully prepared way.
Thus it helps the company to have a good brand image and stepping toward
success.
22
3.1 INTRODUCTION TO COMPANY
"Kumar Group" established on 1.th !ugust: 17** by the Late Shri. K. H.
Oswal: a first generation entrepreneur: with a vision to enter into a core sector
business: housing construction: which had an immense potential was the obvious
choice at that time.
In more than last '( years: the +rgani$ation has grown from strength to
strength striving hard to transform that vision into reality. Today the companyAs name
has become synonymous with the "uality 1onstruction business in 3une.
!n I,+ 7((1 B 2((( 0 1'((1B2((' 1ompany 5CT /+&,<C 4C&IT!,
DE!-ITF ,F,TC 1C&TI#I1!TC =5/4> has awarded an I,+ 7((1B 2(((
1ertificate for Duality anagement ,ystem ,tandards maintained by the company for
23
design: development: construction 0 marketing of &esidential and 1ommercial
comple?es.
<umar Builders has become synonymous with "uality construction in 3une.
The company is known for maintaining international "uality construction standards
and also for its ethics: transparency: reliability: professionalism and refle?ivity.
The <umar Builders Institution boasts of a concrete record of more than 1((
completed projects: over 1(( -akhs ,".#t. completed construction and 13
((
satisfied customers. The 3( ongoing residential and commercial projects and
successful diversification into corporate ventures bear testimony to the success story
of <umar Builders.
Quality Policy:
<umar Builders are committed to design: develop: construct and market
&esidential: 1ommercial comple?es and all such types of shelters: which shall meet
customer need consistently. Ge shall further strive to enhance the interest of our
partners: employees: suppliers 0 society.
Quality Objectives:
1. 5emonstrate commitment and compliance to the Duality anagement
,ystem.
2. Improve the competence of employees by continuous training in the areas in
which they work.
3. To be a market leader by enhancing the customer satisfaction.
'. To create a customer focused organi$ation.
Aims:
;Duality is primary; to <umar Builders. !ll systems and procedures are
formulated to achieve the ;Duality +bjective;. Total "uality principles are adopted in
2'
selection of the material: implementation of the project: and even after the project is
handed over. The 9roup is in the process of implementing ATotal Duality
anagementA in all the aspects of its business.
Values:
? %onor and respect those who are e?perts in their fields: those who are wise:
knowledgeable and insightful. 3roject the eminent 0 nurture the learned.
? Be humble and grateful for any gesture: however small
? Gith plentiful resources: guard against mismanagement and waste.
? 5o not use the force but work through. 1onciliation: appreciation and
inspiration.
? aintain your position through growth and e?pansion: which re"uires effort.
? 3ractice five strategies of actionB !lliance: 3atience: +ptimum Etili$ation of
&esources: /urturing of human assets and !ggressiveness.
? 3lan for the ac"uisition of wealth with the eyes of crane: employ a variety of
postures like peacock: strike with the ferocity of a boar and display the velour
of a lion.
? +ffer your gratitude to 9od.
Human Resources:
<umar Builders is professionally managed and a significant force in an
intensely competitive market. This is because we treat our employees with respect and
dignity. Ge believe the growth of the 9roup is dependant on the growth of our people.
They find an independence to chart their own course: an openness to new ideas:
efficiency in implementation and an enormous professional satisfaction. Ge have men
2.
of mission who can face challenging opportunities with finesse and purpose. The open
door policy and informal and vibrant atmosphere is an achievement in itself.
Technology:
In the conte?t of technological advances: the <umar Builders is in the
forefront in implementing ,tate)+f)The)!rt Technology with the latest systems H
/etworking techni"ues. These assists management to access information and establish
proper checks and controls over the business transactions. 1ontinuous technological
up gradation helps the 9roup keep up with time.
Social Obligation:
The group believes in repaying its debt to society and does so in many
different ways. !fter reali$ing the grave need for shelter it has initiated the task of
development of slums. 4arious projects for beautification: Gater #ountains: ,chools:
and 5evelopments of 9ardens: large roadside plantations: drinking water and public
toilets facilities have been taken up. +n a more macro level: the group has contributed
its mite towards promoting sports development: besides lending a helping hand to
many charitable institutions.
? ,lum development
? 5rinking Gater program
? %elping in building better public toilet facility
? Cnvironment cleanliness and beautification
? 1reating gardens
? ,ports
? ,chools and %ospitals
? Tree 3lantations.
2*
After Sales:
<umar Builders strive hard and are committed to provide all such type of
services related to pre 0 post booking activities in order to enhance customer
satisfaction.
Ge assist all the esteemed customers to avail loan: help them in all type of
correspondences re"uired an ensure them to handover timely possession.
It is our endeavor to sort out all the complaints H "ueries before and after sales
to achieve ma?imum customer satisfaction.
Financial Assistance:
• ICICI Bank
• Standard Charted Bank
22
3.2 BRANCHES & OFFICES
Pune Head Office:
<umar 1apital: 2nd #loor:
2'13:Cast ,treet: 1amp:
3une: India ) '11 ((1.
Tel. : I71 =(2(> '(((*((( H1H2H3: 2*3.((*..
Fax : I71 =(2(> 2*33(.6'.
E-mail : salesJkumarbuilders.com
Mumbai Branch Office:
+ffice /o. 2: 1st #loor:
!li 1hambers: /agindas aster &oad
#ort: umbai ) '(( (23
Tel. B I71 =(22> **326'6
**326'61.
#a? B I71 =(22> **326'62.
C)mail B kumartechJvsnl.net
Bangalaru Branch Office:
1(H12: 3alace &oad:
13th ain: 4asant /agar
Bangalaru ) .*( (.2
Tel. B I71 =(6(> 223. *622.
Telefa? B I71 =(6(> 223. *6...
26
C)mail B salesblreJkumarbuilders.com
3.3 Achievements & Awards
• <umar Builders receives srishti green cube award from commerce minister
<amal /ath in 5elhi.The ,rishti 9reen 1ube !wards was instituted for K9ood
9reen 9overnance =93>L.
• <umar Builders were the first 1onstruction 1ompany in India to obtain an
I,+ 1'((1B2((' Cnvironment 1ertification.
• <umar Builders bagged the award on the basis of the social activities and their
concern for preservation of the environment: which is seen through the
implementation of e?tensive programmes in the following major areas:
namelyB
? ,olid Gaste anagement
? &ainwater %arvesting
? ,olar Cnergy
? &eduction of 5ust: /oise !nd Gater 3ollution !nd
? C?panding the 9reen Belt.
27
3.4 PRODUCTS RANGE & VARIETY
Residential Projects
Commercial Projects
Multiplex / Retail Projects
IT / BTS Projects
Investment Opportunities
Future Projects
Completed Projects
3(
Kumars Residential Projects
Kumar Meadows Kumar Kruti Buena Vista
Windsor Park Kumar Puram Sophronia
Kumar City Laxmi Vilas Hillscape
The Orion Residency Kumar Surkasha Kumar Dhruv
Kumar Sahawas Kubera Sankul Kumar Shantiniketan
Kubera Vihar Kumar Sansar i-Life
31
3.5 ORGANISATION STAFF & DESIGNATION
No. Name Designation Department
Lalitkumar 1ain 1hairman 0 5
Kruti 1ain C?ecutive 5irector
1 Sameer Palshikar edia anager !dvertising
2 Yogesh Bhave
%.+.5. ) !ccounts
0 #inance
!ccounts 0
#inance
3 Girish Mande %.+.5. Banking
Banking 0
3ayments
4 B.R. Gulati
%.+.5. M
!dministration
!dministration
5 Reena Manjrekar %.+.5. ) 1.&.+. 1.&.+.
6 Surender Khunekari ,r. C?ecutive ) C53 C.5.3.
7 Sheetal 1oshi
1ompany
,ecretory
1.,.
8 K.B. Shivankhede
1hief Technical
1oordinator
1onstruction H
Technical
9 S. Premnath 9 ) Technical
1onstruction H
Technical
10 Anil Nemavarkar 3roject 1o)ordinator
1onstruction H
Technical
11 Ritesh Oswal
%.+.5. M
1orporate arketing
1orporate ,ales 0
kt.
12 Vinay Nimbalkar
%.+.5.
Clectrical
Clectrical
13 D.V. Godbole
%.+.5. )
%orticulture
%orticulture H
-andscape
14 Chandrahas Bollabattin ,r. C?ecutive ) %& %.&.
15 RAHUL BOKIL
anagement
&epresentative
I.,.+.
16 Viresh Parekh 1oordinator -and H -egal
17 B.H. Tingre %.+.5. ) -egal -egal
32
18 Neelima Gohad %.+.5. ) -egal -egal
19 Brig. Ramesh Hasija
%.+.5. )
aintenance
aintenance
20 Vijay Oswal 9.. ) +perations +perations
21 Anil Suratwala
9.. M
Township
5evelopments
3roject 3lanning 0
Township
5evelopments
22 D.S. Thorat
%.+.5. M
3ublic &elations
3ublic &elations
23 Rupam Singh
,r. anager M
3ublic &elations
3ublic &elations
24 Abhay Deshpande %.+.5. ) 3urchase 3urchase
25 Niranjan Bhatkulkar
%.+.5. M
Duantity !nalysis
Duantity !nalysis
26 Ravindra D. Patil
%.+.5. M
Duality !ssurance
Dyality !ssurance
27 Rajendra Bhagat ,ales anager ,ales 0 kt.
28 Anil Deshpande ,ecurity Incharge ,ecurity
29 Mohan Tak 1.C.+. ) 1-EB
,ymphony H
1onniseur 1lub
30 Rajashree Swami
,ystem 0
3rocedure anager
,ystems 0
3rocedure
33
3.6 LIST OF COMPETITORS
Mantri Builders
#ergusson 1ollege &oad
=antri %ouse> ,hop N 727:
5eccan 9ymkhana:
3une '11(('3honeB =2(> 2.**1('(
Bramha Builders
2(.H2.1: .9. &oad
3arvati:
3une '11((7
3honeB =2(> 2*33((.2
Panchshil Real Estate Consultant
Bund 9arden &oad
=<onar Cstate>
3une %.+.:
3une '11((13honeB =2(> 2*1223**
Rohan Builders (I) Private Limited
613: Bhandarkar &oad
=3radeep 1hambers>
5eccan 9ymkhana:
3une '11(('3honeB =2(> 2.*2''13
Paranjape Schemes Constructions
!nand 1olony: Crandwane
=3,1 %ouse>
5eccan 9ymkhana:
3une '11(('3honeB =2(> 3(2233''
Nyati Builders Private Limited
<alyani /agar
=/yati 1ommerce %ouse>
Ferwada:
3une '11((*3honeB =2(> 2**6*123
D.S. Kulkarni Developers Limited
1162H* Oangali aharaj &oad
=5,< %ouse>
,hivajinagar %.+.:
3une '11((.3honeB =2(> .*('21((
K Raheja Private Ltd.,
,urvey /o. 1'' 0 1'.:
,amrat !shok 3ath: +ff. !irport &oad:
Ferwada: 3une M '11 ((*
TelB I71 (2( 2*1126.7
3'
4. THEORETICAL BACKGROUND OF BUYING BEHAVIORS
? Definition of Buying Behaviour:
Buying Behavior is the decision processes and acts of people involved in
buying and using products.
The dynamic interaction of affect and cognition: behaviour: and the
environment by which human beings conduct the e?change aspects of their lives
? Meaning of Consumer Behaviour:
1onsumer behaviour can be looked upon as a study of how individuals make
decisions on how to spend their available resources like time: money and effort on
various consumption)related items.
%uman beings are greatly influenced in their buying actions by various factors
like opinions of others: marketing stimuli like product: advertising: packaging and
product appearance
? Scope of Consumer Buying Behaviour
• Ghy do consumers buy a particular productHservice brandP
• %ow do they buy themP
• Ghere do they buy these productsP
• %ow often do they buy themP
• Ghen do they buy themP
• Ghat factors influence the decision making process of the consumersP
• The buying process involves the user: influencer: decider: and the buyer
3.
• The process is greatly affected by selective information received by a
consumer
• It is very important to understand what and how much information is
re"uired by the consumer to help him evaluate the products and services
• !s such understanding why a consumer finally buys a product is very
comple?
? Importance Of Consumer Behaviour
• Cver increasing intensity of competition
• ore aggressive competitors emerging with greater fre"uency
• 1hanging bases of competition
• 9eographic sources of competition are becoming wider
• /iche attacks are becoming fre"uent
• 3ace of innovation is rapid
• 3rice competition becoming more aggressive
• 3roduct differentiation is declining
? Why Focus On Consumer Behaviour
• 3rofit making through customer satisfaction
• 5ramatic increase in the "uality of consumer and
marketing research
• 5evelopment of consumer behaviour research
• ,hifting from the mass marketing concept to individual
marketing concept.
? Characteristics Of Consumer Behaviour
Consumer behaviour is dynamicB
3*
• The feelings: thinking: perceptions: and actions
of the consumers and the society at large keep changing fre"uently.
• ,trategies that work today may not work
tomorrow.
• The product life cycles are becoming shorter.
? Benefits of Consumer Behaviour
• ,tay loyal for a long time
• Buy new products and upgrade e?isting ones
• Talk favourably about the firm and its products
• 3ay less attention to competing brands
• +ffer productHservice ideas to the firm
• !re cost effective
? Approaches To Consumer Behaviour
Managerial:
• icro and cognitive in nature
• Cmphasi$es on attitudes: perceptions: lifestyle and demographic
characteristics
• Cnvironmental effects)reference groups: family and culture
• &isk of this approach is overemphasis on rationality of a consumer and
overlooks
• the dynamics of environmental factors independent of the individual
• Tends to focus more on purchase than on consumption
Holistic:
32
• ore macro in approach
• Tends to focus more on consumption e?perience than on purchasing
process
• ,tresses the broader: culturally derived conte?t of consumption
• Cmphasi$es on environmental conte?t of the consumer8s actions
• This approach may not be actionable and all decisions are not rational.
? Need To Understand Consumer Buying Behaviour:
• Ghy consumers make the purchases that they makeP
• Ghat factors influence consumer purchasesP
• The changing factors in our society.
• 1onsumer Buying Behavior refers to the buying behavior of the
ultimate consumer. ! firm needs to analy$e buying behavior forB
? Buyers reactions to a firms marketing strategy has a
great impact on the firms success.
? The marketing concept stresses that a firm should create
a Marketing Mix => that satisfies =gives utility to> customers:
therefore need to analy$e the what: where: when and how
consumers buy.
? arketers can better predict how consumers will
respond to marketing strategies.
? Stages of Consumer Buying Process:
,i? ,tages to the 1onsumer Buying 5ecision 3rocess =#or comple? decisions>.
!ctual purchasing is only one stage of the process. /ot all decision processes lead to a
36
purchase. !ll consumer decisions do not always include all * stages: determined by
the degree of comple?ity.
The 6 stages are:
1. Problem %eco#nition=awareness of need>))difference between the desired
state and the actual condition. 5eficit in assortment of products. %unger))
#ood. %unger stimulates your need to eat.
1an be stimulated by the marketer through product information))did not know
you were deficientP I.C.: see a commercial for a new pair of shoes: stimulates
your recognition that you need a new pair of shoes.
2. *nformation search--
? Internal search: memory.
? C?ternal search if you need more information. #riends
and relatives =word of mouth>. arketer dominated sourcesQ
comparison shoppingQ public sources etc.
! successful information search leaves a buyer with possible alternatives: the
evoked set. %ungry: want to go out and eat: evoked set is
? 1hinese food
? Indian food
? Burger king
? <londike <ates etc
3. Evaluation of )lternatives--need to establish criteria for evaluation: features
the buyer wants or does not want. &ankHweight alternatives or resume search.
ay decide that you want to eat something spicy: indian gets highest rank etc.
If not satisfied with your choice then return to the search phase. 1an you think
of another restaurantP -ook in the yellow pages etc. Information from
37
different sources may be treated differently. arketers try to influence by
;framing; alternatives.
4. Purchase decision--1hoose buying alternative: includes product: package:
store: method of purchase etc.
5. Purchase--ay differ from decision: time lapse between ' 0 .: product
availability.
6. Post/Purchase Evaluation--outcomeB ,atisfaction or 5issatisfaction.
Co#nitive (issonance: have you made the right decision. This can be reduced
by warranties: after sales communication etc.
!fter eating an indian meal: may think that really you wanted a chinese meal
instead.
? Types Of Consumer Buying BehaviourB
Types of consumer buying behavior are determined byB
• -evel of Involvement in purchase decision. Importance and intensity of
interest in a product in a particular situation.
• Buyers level of involvement determines why heHshe is motivated to seek
information about a certain products and brands but virtually ignores
others.
%igh involvement purchases))%onda otorbike: high priced goods: products visible
to others: and the higher the risk the higher the involvement. Types of riskB
• 3ersonal risk
• ,ocial risk
• Cconomic risk
The four type of consumer buying behavior areB
'(
? &outine &esponseH3rogrammed Behavior))buying low involvement
fre"uently purchased low cost itemsQ need very little search and decision
effortQ purchased almost automatically. C?amples include soft drinks:
snack foods: milk etc.
? -imited 5ecision aking))buying product occasionally. Ghen you
need to obtain information about unfamiliar brand in a familiar product
category: perhaps. &e"uires a moderate amount of time for information
gathering. C?amples include 1lothes))know product class but not the
brand.
? C?tensive 5ecision akingH1omple? high involvement:
unfamiliar: e?pensive andHor infre"uently bought products. %igh degree of
economicHperformanceHpsychological risk. C?amples include cars: homes:
computers: education. ,pend a lot of time seeking information and
deciding.
Information from the companies Q friends and relatives: store
personnel etc. 9o through all si? stages of the buying process.
? Impulse buying: no conscious planning.
The purchase of the same product does not always elicit the same Buying Behavior.
3roduct can shift from one category to the ne?t.
#or e?ampleB
9oing out for dinner for one person may be e?tensive decision making =for someone
that does not go out often at all>: but limited decision making for someone else. The
reason for the dinner: whether it is an anniversary celebration: or a meal with a couple
of friends will also determine the e?tent of the decision making.
'1
? Categories That Effect The Consumer Buying Decision Process
! consumer: making a purchase decision will be affected by the following
three factorsB
1. 3ersonal
2. 3sychological
3. ,ocial
The marketer must be aware of these factors in order to develop an appropriate
for its target market.
1. Personal
Eni"ue to a particular person. 5emographic #actors. ,e?: &ace: !ge etc.
Gho in the family is responsible for the decision making. Foung people purchase
things for different reasons than older people.
2. Psychological factors
3sychological factors includeB
• Motives--
! motive is an internal energi$ing force that orients a personAs
activities toward satisfying a need or achieving a goal.
!ctions are effected by a set of motives: not just one. If marketers can identify
motives then they can better develop a marketing mi?.
!,-+G hierarchy of needsRR
o 3hysiological
o ,afety
o -ove and Belonging
o Csteem
o ,elf !ctuali$ation
'2
/eed to determine what level of the hierarchy the consumers are at to
determine what motivates their purchases.
• Perception--
Ghat do you seeP 3erception is the process of selecting: organi$ing
and interpreting information inputs to produce meaning. IC we chose what
info we pay attention to: organi$e it and interpret it.
Information inputs are the sensations received through sight: taste: hearing:
smell and touch.
Selective Exposure)select inputs to be e?posed to our awareness. ore likely
if it is linked to an event: satisfies current needs: intensity of input changes.
Selective (istortion)1hangingHtwisting current received information:
inconsistent with beliefs.
!dvertisers that use comparative advertisements: have to be very careful that
consumers do not distort the facts and perceive that the advertisement was for
the competitor.
Selective %etention)&emember inputs that support beliefs: forgets those that
donAt.
• Ability and Knowledge--
/eed to understand individual8s capacity to learn. -earning: changes in
a personAs behavior caused by information and e?perience. Therefore to
change consumersA behavior about your product: need to give them new
information reB product...free sample etc.
0no1led#e is the familiarity with the product and e?pertise.
Ine?perience buyers often use prices as an indicator of "uality more than those
who have knowledge of a product.
'3
2earnin# is the process through which a relatively permanent change in
behavior results from the conse"uences of past behavior.
• Attitudes--
<nowledge and positive and negative feelings about an object or
activity)maybe tangible or intangible: living or non) living.....5rive
perceptions Individual learns attitudes through e?perience and interaction with
other people.
1onsumer attitudes toward a firm and its products greatly influence the
success or failure of the firmAs marketing strategy.
!ttitudes and attitude change are influenced by consumers personality
and lifestyle.
1onsumers screen information that conflicts with their attitudes.
5istort information to make it consistent and selectively retain information
that reinforces our attitudes. IC brand loyalty.
There is a difference between attitude and intention to buy =ability to
buy>.
• Personality--
!ll the internal traits and behaviors that make a person uni"ue:
uni"ueness arrives from a personAs heredity and personal e?perience.
C?amples includeB
? Gork holism
? 1ompulsiveness
? ,elf confidence
? #riendliness
? !daptability
''
? !mbitiousness
? 5ogmatism
? !uthoritarianism
? Introversion
? C?troversion
? !ggressiveness
? 1ompetitiveness.
Traits effect the way people behave. arketers try to match the store image to
the perceived image of their customers.
There is a weak association between personality and Buying BehaviorQ this
may be due to unreliable measures.
• Lifestyles--
&ecent E, trends in lifestyles are a shift towards personal
independence and individualism and a preference for a healthy: natural
lifestyle. -ifestyles are the consistent patterns people follow in their lives.
3. Social Factors
1onsumer wants: learning: motives etc. are influenced by opinion leaders:
personAs family: reference groups: social class and culture.
• Opinion leaders--
,pokespeople etc. arketers try to attract opinion leaders...they actually use =p
y> spokespeople to market their products. ichael Oordon =/ike: c5onalds:
9atorade etc.> 1an be risky...ichael Oackson...+O ,impson...1hevy 1hase
• Roles and Family Influences--
'.
&ole...things you should do based on the e?pectations of you from your
position within a group.
3eople have many roles. %usband: father: employerHee. Individuals
role are continuing to change therefore marketers must continue to update
information.
#amily is the most basic group a person belongs to. arketers must
understandB
? that many family decisions are made by the family unit
? consumer behavior starts in the family unit
? family roles and preferences are the model for childrenAs future family
=can rejectHalterHetc>
? family buying decisions are a mi?ture of family interactions and
individual decision making
? #amily acts an interpreter of social and cultural values for the
individual.
The #amily life cycleB families go through stagesQ each stage creates different
consumer demandsB
? Bachelor stage.
? newly married: young: no children...me
? full nest I: youngest child under *
? full nest II: youngest child * or over
? full nest III: older married couples with dependant children
? empty nest I: older married couples with no children living with them:
head in labor force
'*
? empty nest II: older married couples: no children living at home: head
retired
? solitary survivor: in labor force
? solitary survivor: retired
? oderni$ed life cycle includes divorced and no children.
• Reference Groups--
Individual identifies with the group to the e?tent that he takes on many
of the values: attitudes or behaviors of the group members.
#amilies: friends: sororities: civic and professional organi$ations. !ny group
that has a positive or negative influence on a persons attitude and behavior.
&embership #roups =belong to>
!ffinity marketing is focused on the desires of consumers that belong to
reference groups. arketers get the groups to approve the product and
communicate that approval to its members. 1redit 1ards etc.
)spiration #roups =want to belong to>
(isassociate #roups =do not want to belong to>
• Social Class-
!n open group of individuals who have similar social rank. E, is not a
classless society. E, criteriaQ occupation: education: income: wealth: race:
ethnic groups and possessions.
,ocial class influences many aspects of our lives. IC upper middle class
!mericans prefer lu?ury cars ercedes.
? Epper !mericans)upper)upper class: .3S: inherited wealth: aristocratic
names.
'2
? -ower)upper class: 1.2S: newer social elite: from current professionals
and corporate elite
? Epper)middle class: 12..S: college graduates: managers and
professionals
? iddle !mericans)middle class: 32S: average pay white collar
workers and blue collar friends
? Gorking class: 36S: average pay blue collar workers
? -ower !mericans)lower class: 7S: working: not on welfare
? -ower)lower class: 2S: on welfare
,ocial class determines to some e?tent: the types: "uality: "uantity of products that a
person buys or uses. -ower class people tend to stay close to home when shopping: do
not engage in much pre)purchase information gathering. ,tores project definite class
images. #amily: reference groups and social classes are all social influences on
consumer behavior. !ll operate within a larger culture.
• Culture and Sub-culture--
1ulture refers to the set of values: ideas: and attitudes that are accepted
by a homogenous group of people and transmitted to the ne?t generation.
1ulture also determines what is acceptable with product advertising. 1ulture
determines what people wear: eat: reside and travel. 1ultural values in the E,
are good health: education: individualism and freedom. In american culture
time scarcity is a growing problem. IC change in meals. Big impact on
international marketing.
'6
5. RESEARCH METHODOLOGY
What is Research?
The following eight characteristics of research will serve us well in defining meaning
of research.
Cight characteristics of researchB
1. &esearch originates with a "uestion or a problem.
2. &esearch re"uires a clear articulation of a goal.
3. &esearch follows a specific plan of procedure.
'. &esearch usually divides the principal problem into more manageable sub)
problems.
.. &esearch is guided by the specific research problem: "uestion: or hypothesis.
*. &esearch accepts certain critical assumptions. These assumptions are
underlying theories or ideas about how the world works.
'7
2. &esearch re"uires the collection and interpretation of data in attempting to
resolve the problem that initiated the research.
6. &esearch is: by its nature: cyclicalQ or more e?actly: spiral or helical.
? This project is concern with Survey Research:
,urvey research is one of the most important areas of measurement in applied
social research. The broad area of survey research encompasses any measurement
procedures that involve asking "uestions of respondents. ! ;survey; can be anything
form a short paper)and)pencil feedback form to an intensive one)on)one in)depth
interview.
? Survey Method: -
,urvey research method is techni"ue of investigation by direct
observationHrespondent or by systematic gathering of data from population.
Advantages of Survey Method:-
1> Inferences based on facts.
2> 3ersonal 1ontracts with respondents.
3> Instrument of social development.
'> 9reater objectivity.
.> ore reliability of the data.
? Questionnaire: -
Duestionnaire is used to collect information from respondent. In this study
"uestionnaire content both close ended 0 open)ended "uestionnaire.
.(
Sample size is100 respondents which are further calculated in percentage and
shown graphically in various charts.
Respondents as sample unit.
? Non-Random 1udgment Sampling
/on)probability sampling is that procedure which does not afford any basis
for estimating the probability that each item in the population has of being included in
the sample.
? For this project Primary as well as Secondary data is use.
? Primary Data:
Information collected for first time is called as 3rimary 5ata 0 is in the
original character. 3rimary data collected either through observation or through direct
communication with respondents in one form or another or through personal
interviews.
3rimary data is collected through the survey method with help of
"uestionnaire.
? Secondary Data:
,econdary data means data which already been collected and analy$ed by someone
else. ,econdary data collected from books: Internet 0 maga$ines.
.1
• Research Design:-
&esearch design is the guideline: which help the researcher to get the re"uired
information from the respondents within the specific time limit:
6. DATA ANALYSIS
1) Table showing present type of Residential Ownership.
Type No. of Respondents º of Respondents
+wnership 3* 3*S
+n &ental '7 '7S
+thers 1. 1.S
Total 1(( 1((S
.2
The above table shows that: ma?imum no. of respondents stays on rental basis
i.e.'7S: 3*S of the respondents have their ownership on residence and 1.S of
respondents are in others category: which include residence on lease or staying at
relative.
2) Table showing areas preferred to purchase residential properties.
Area No. of Respondents º of Respondents
Peth Area 11 11S
Kalyani Nagar 17 R7 S
Hadapsar 23 23S
Kondwa 2* 2*S
Katraj (2 (2S
Baner (. (.S
Pashan (7 (7S
Total 1(( 1((S
The above table shows that ma?imum no. of respondents i..e.2*S prefer <ondwa
area: whereas 23S of respondents preferred %adapsar area: while 17S of respondents
.3
prefer <alyani /agar area: whereas (7S of respondents preferred 3ashan area while
(2S of respondents preferred <atraj area and (.S of respondents preferred Baner
area for purchasing residential properties.
3) Table Showing Factors taken into consideration while purchasing Residential
properties.
Factors No. of Respondents º of Respondents
Location 26 26S
Price 37 37S
Transportation Facility 1* 1*S
Accessibility to Market (2 (2S
Others 1( 1(S
Total 1(( 1((S
The above table shows that ma?imum no. of respondents i.e. 37S consider 3rice:
whereas 26S consider location while 1*S consider transportation facility whereas
1(S consider other factors like 4astushastra: Gater availability etc. and (2S of
respondents consider accessibility to market as important factor for purchasing
residential properties.
.'
4) Table showing Parameters considers while selecting residential properties.
Parameters No. of Respondents
Brand Name .3
Quality *2
Space (Sq. ft.) '7
Facilities 23
Interior 3(
Schemes .2
The above table shows that ma?imum no. of respondents i.e. 23 consider #acilities as
parameter while *2 respondents consider Duality: whereas .2 of respondents consider
,chemes whereas .3 respondents consider Brand name while '7 respondents consider
,pace =,". ft.> and 3( respondents consider Interiors as the parameters while selecting
residential properties.
5) Table showing sources of Information for respondents while Property
Purchasing.
..
Sources No. of Respondents º of Respondents
Hoardings 13 13S
Newspapers 12 12S
Agents/Consultants 33 33S
Relatives/Friends 26 26S
Others (7 (7S
Total 1(( 1((S
!bove table shows that 33S of respondents get their information from !gents
H1onsultants: where as 26S of respondents get information from &elativesH #riends
while 12S of respondents get information from /ewspapers whereas 13S of
respondents get information from %oardings and (7S of respondents get their
information through +ther ,ources like -ocal /ews 1hannel:&adio:Internet etc. for
3urchasing &esidential 3roperties.
6) Table showing awareness in respondents about various schemes offered by
KBC.
Awareness No. of Respondents º of Respondents
Yes *2 *2S
No 33 33S
Total 1(( 1((S
.*
The above table shows that ma?imum no. of respondents i.e. *2S were aware about
the various schemes offered by <B1 whereas 33S of respondents were not aware
about various schemes offered by <B1.
7) Table showing duration of the year when normally respondents like to
purchases residential properties.
Month No. of Respondents º of Respondents
1an to Apr 3. 3.S
May to Aug 13 13S
Sept to Dec .2 .2S
Total 1(( 1((S
.2
!bove table shows that ma?imum no. of respondents i.e. .2S would prefer ,ept to
5ec as the duration where as 3.S respondents would prefer Oan to !pr while 13S of
respondents prefer ay to !ug as the duration of the year where they would like to
purchase residential properties.
8) Table showing type of Residential property respondents would like Purchase.
Type No. of Respondents º of Respondents
1 BHK Flat 16 16S
2 BHK Flat '6 '6S
3 BHK Flat 2' 2'S
Bungalow/Row house (' ('S
Others (* (*S
Total 1(( 1(( S
.6
!bove table shows that ma?imum no. of respondents that is '6S would like to
purchase 2 B%< #lat: whereas 2'S respondents prefer 3 B%< #lat: while 16S
respondents prefer 1B%< #lat whereas 'S of respondents prefer BungalowH&ow
house and (*S respondents prefer others which include 5uple?: Terrace #lat:
!ttached #lat etc. for purchases of residential property.
9) Table showing mode of purchases of residential property preferred by
respondents.
Mode No. of Respondents º of Respondents
Home Loans .2 .2S
Lum-sum (* (*S
Installments 33 33S
Others (' ('S
Total 1(( 1((S
.7
!bove table shows that ma?imum no. of respondents i.e..2S would prefer %ome
-oans whereas 33S of respondents would prefer Installments while (*S of
respondents would prefer -um)sum and ('S of respondents prefer +thers.
7. FINDINGS
1> 5uring the time of survey: it was found that '7S respondents are having the
resident on rental: 3*S respondents are having own property 0 1.S respondents
are having other sources such as lease: relatives 0 friends etc.
2> It was found that 2*S of respondents were preferred to purchase residential
property in <ondwa area: 23S of respondents in %adapsar 0 17S: 11S: 7S: 2S
*(
people in <alyani /agar: 3eth area: 3ashan /agar: <atraj area respectively: only
.S respondents were preferred in Baner area.
3> It was found that the price 0 location is major factor which consider by the
customer at the time of purchasing the residential property. %ere 37S
respondents are considering the price: 26S respondents are consider location 0
1*S 0 2S respondents are considering transportation 0 market facility.
'> It was found that the @"uality8 0 @facilities8 are most considerable parameters at
the time of selecting residential property. Brand /ame 0 schemes are also
consider the consumer at the time of purchasing the residential property.
.> It was found that the source of information for consumers the real estate
consultant play very vital role. 33S respondents go through the consultants: 26S
respondents prefer relatives 0 friends: 12S go through newspapers 0 22S
respondents prefer through hoarding 0 others sources.
*> It was found *2S respondents were aware of various schemes offered by <B1 0
33S respondents were not aware. %ere the most of the respondent8s opinions
about schemes of <B18s are good.
2> In the duration of ,eptember to 5ecember the most of the respondents were like
to purchase the residential property because most of the festival are in this
duration. %ere .2S respondents preferred in ,eptember to 5ecember: 3.S
*1
respondents preferred in Oanuary to !pril 0 13S respondents preferred in ay 0
!ugust.
6> It was found that demand of the 2 0 3 B%< flats were more as comparing to
other types. '6S respondents prefer 2 B%< flat: 2'S respondents prefer 3 B%<
0 16S 0 'S respondents choose the 1 B%< 0 Bungalow respectively. %ere
*S respondents go through the other type such as 5uple? flat: 9allery or Terries
0 1 %< flat.
7> In the mode of payments .2S respondents go through home loans of various
banks 0 private financial institutes: 33S respondents go through installments:
*S respondents through lum sum amount 0 'S respondents choose other mode
of payments.
1(> It was found that the close competition of <B1 were 4ascon: Bramha Builders 0
/yati Builders which were mostly known by the respondents.
*2
8. CONCLUSION
• It can be seen that <umar Builders is most popular brand.
• Duality is considering lot while purchasing residential property.
• The <umar Builders stands first among three top companies in 3une city.
• The Buyers consider Duality and price while purchasing the residential
property.
• The customer may change the Brand if the 3articular brand is not available
and also because of close substitute.
• 3rice hike is also one of the reasons for change in brand.
• !dverting and other sales promotion tools have a great effect on sales of the
residential property.
*3
9. RECOMMENDATIONS
1. <B1 should try to tap other market potentials: such as /asik:
<holapur: ,urat !hmedabad and 2
nd
tire cities.
2. <B1 should try to decrease #ive star amenities with a view to cut
down the property prices and there by attracting the middle class.
3. <B1 should actively participate and organi$e property e?hibition:
trade shows: hoardings: etc. to create awareness in the market.
'. <B1 should organi$e annual customer meet to appreciate those
customer who have been with them and awarded them.
.. <B1 should take mass media such as television more precisely cable
media to target local customers.
*. <B1 should also concentrate more on interior decoration to compete
with other competitors.
2. <B1 should reduce the maintenance charges.
6. <B1 should also concentrate on 1& activities: such as loyalty to
create strong good will and gain new customer.
*'
ANNEXURE
Questionnaire
“A STUDY ON CONSUMER BUYING BEHAVIOUR TOWARDS
RESIDENTINAL PROPERTIES IN PUNE CITY”
WITH SPECIAL REFERENCE TO KUMAR BUILDERSS
Personal Details
NAME:-
OCCUPATION :-
GENDER:-
FAMILY SIZE :-
CONTACT :
E-MAIL:-
NO. OF EARNING MEMBERS:-
ANNUAL INCOME:
1. 5o you have any plan to purchase residential property in 3uneP
? Fes ? /o
2. Ghat is your present type of propertyP
? +wnership ?+n rental ? +thers
3. In which area would you prefer to purchase residential propertiesP GhyP
? 3eth area ? %adapsar ? 3ashan ? Baner
? <alyani nagar ?<atraj ? <ondwa
*.
'. Ghich factor do you take in to consideration while purchasing residential
propertiesP =1hoose any one>
? -ocation ? 3rice
? Transportation facility ? !ccessibility to market
? Others ___________________________________________
.. Ghich parameters do you take in to consideration while selecting a residential
propertyP =!llow to multiple choice>
? Brand /ame ? Duality
? ,pace =s". ft> ? #acilities
? Interiors ? ,chemes
*. Ghich other construction company H industry are you aware of other than <B1P
=+pen ended>
TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
2. 3l$. Indicate the source of information that you consider for property purchasingP
=choose any one>
? %oarding ? /ewspapers
? !gent ? &elatives
? +thers
6. !re you aware of various schemes offered by <B1P
? Fes ? /o
**
If yes what is your opinion:
? 4ery 9ood ? 9ood ? !verage
7. 5uring which duration of the year normally would you like to purchase residential
propertiesP
? Oan. to !pr. ? ay to !ug. ? ,ep. to 5ec.
1(. Ghat type of residential property you would like to purchasesP
? 1B%< #lat ?2B%< #lat
? 3B%< #lat ? BungalowsH&ow %ouse
? +thers
11. Ghat will be your mode of purchase of residential propertyP
? %ome -oans ? -um sum
? Installments ? +thers
TTTTTTTTTT
,ignature
*2
BIBLIOGRAPHY
Books referred
Title B ) arketing anagement
Name of the Author B ) 3hilip <otler
Title B ) arketing &esearch
Name of the Author B ) Thomas 1 <innear
Title B ) 1onsumer Buying Behavior
Name of the Author B ) O. 3aul 3eter
Title B ) &esearch ethodology
Name of the Author B ) 5r. ,. ,hajahan
Other sources:-
1> /ews 3aper
2> aga$ines
3> Internet websites
Webliography Referred :
a> www.google.com
b> www.marketingprofessors.com
c> www.indiatimes.com
d> www.kumarbuilders.com
*6
*7
doc_629400479.doc
Six Stages to the Consumer Buying Decision Process (For complex decisions). Actual purchasing is only one stage of the process. Not all decision processes lead to a purchase. All consumer decisions do not always include all 6 stages, determined by the degree of complexity.
A
PRO1ECT REPORT
ON
“A STUDY ON CONSUMER BUYING BEHAVIOUR
TOWARDS RESIDENTIAL PROPERTIES IN PUNE CITY”
FOR
“KUMAR BUILDERS”
BY
GUNDYAL GOPAL NAGESH
(Batch 2006-08)
UNDER THE GUIDENCE OF
PROF. MAHESH GADEKAR
SUBMITTED TO
“UNIVERSITY OF PUNE”
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR
THE AWARD OF THE DEGREE OF MASTERS OF BUSINESS
ADMINISTRATION (MBA)
THROUGH
VISHWAKARMA INSTITUTE OF MANAGEMENT
PUNE-48.
1
A
PRO1ECT REPORT
ON
“A STUDY ON CONSUMER BUYING BEHAVIOUR
TOWARDS RESIDENTIAL PROPERTIES IN PUNE CITY”
FOR
“KUMAR BUILDERS”
BY
GUNDYAL GOPAL NAGESH
(Batch 2006-08)
UNDER THE GUIDENCE OF
PROF. MAHESH GADEKAR
SUBMITTED TO
“UNIVERSITY OF PUNE”
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE
AWARD OF THE DEGREE OF MASTERS OF BUSINESS
ADMINISTRATION (MBA)
2
THROUGH
VISHWAKARMA INSTITUTE OF MANAGEMENT
PUNE-48.
Acknowledgement
3
Before we get into the thick of the things I would like to add a few heartfelt
words for the people who were the part of this project in numerous ways people
who gave unending support right from the stage the basic idea was conceived.
This dissertation from a part of my two year .B.! programme and is in
partial fulfillment of the re"uirement of their in reference.
I acknowledge with sense of reverence my gratitude towards the
management of Kumar Builders. #or providing me an opportunity to work as a
summer trainee in their esteem organi$ation.
I want to give special the %& anager and other staff of the company who
helped me to complete the project. I also thank my Director Dr. Sharad L. 1oshi
and my internal guide Prof. Mahesh Gadekar for guiding me from time to time.
CONTENTS
Sr.No. Topic Page. No.
'
1 Executive Summary of Project 01-02
2 Objective Of The Study (3)(*
2.1 +bjectives (3
2.2 ,cope +f The ,tudy ('
2.3 -imitations (.
2.' /eed 0 ,ignificance +f The ,tudy (*
3 Company Profile 07-18
3.1 Introduction To 1ompany (2
3.2 Branches 0 +ffices 12
3.3 !chievements 0 !wards 13
3.' 3roducts &ange 0 4ariety 1'
3.. +rganisation ,taff 0 5esignation 1*
3.* -ist of 1ompetitors 16
4 Theoretical Background 19-32
5 Research Methodology 33-35
6 Data Analysis and Interpretation 36-44
7 Findings 45-46
8 Conclusion 47
9 Recommendations 48
Annexure
Bibliography
49-51
52
.
Chapter 1
Executive Summary
Chapter 2
*
Objectives of the Study
2
Chapter 3
Company Profile
6
Chapter 4
heoretical !ac"#round
7
Chapter $
%esearch ðodolo#y
Chapter '
1(
(ata )nalysis
and
*nterpretation
11
Chapter +
,indin#s
12
Chapter -
Conclusion
13
Chapter .
%ecommendations
1'
)nnexure
1.
!iblio#raphy
1*
1. Executive Summary
This study is related to construction industry in India. %eightened reali$ation
on the part of all stakeholders that infrastructure would play a key role towards
pushing India8s 953 to the desirable 6 percent mark has come as a boon for India8s
construction industry.
The industry is riding a growth wave: which is evident from the financial
results posted by some of the leading contractors. %owever: the industry is faced with
certain challenges. The need to be price competitive: adherence to safety: "uality
consciousness: adapting to technological changes: developing and using new
construction materials and having an ade"uately trained manpower are issues that
industry must look into and address.
;The construction sector: therefore: has to gear up fully to take on the ever)
increasing challenge.;
This study was basically concern with consumer buying behaviour towards
residential properties in 3une city with reference to <umar Builders 1onstructions.
The basic objective behind carrying this study was to study the property purchasing
behaviour i.e. =&esidential> of different types of customer in different area in 3une
city: to study the various factors affecting the customer)buying pattern especially in
case of residential properties and to search out new prospects for <umar Builders
1onstruction.
!fter completing this study it was found that ma?imum respondents are
having the resident on rental: it was also found that price 0 location is major factor
which are consider by the customer at the time of purchasing the residential property.
The @"uality8 0 @facilities8 are most considerable parameters at the time of selecting
12
residential property. It was also found that demand of the 2 0 3 B%< flats were more
to comparing other types of residential properties.
!fter going through this study I would recommend <umar Builders that they
should try to decrease #ive star amenities with a view to cut down the property prices
and there by attracting the middle class: and also actively participate and organi$e
property e?hibition: trade shows: hoardings: etc. to create awareness in the market.
They should reduce the maintenance charges and should concentrate on 1&
activities: such as loyalty to create strong good will and gain new customer.
16
2.1 OB1ECTIVES
? To study the property purchasing behaviour i.e. =&esidential> of different
types of customer in different area in 3une city.
? To study the various factors affecting the customer)buying pattern
especially in case of &esidential properties.
? To find the e?pectations 0 needs of customers from <umar Builders
1onstructions.
? To find the opinion of the customers with regard to various schemes
available or schemes offered by <umar Builders constructions.
? To find out the near competitors for <umar Builders 1onstructions.
? To find out the period in which the customers are more willing to purchase
&esidential properties.
? To search out new prospects for <umar Builders 1onstruction.
17
2.2 SCOPE
This study will be beneficial to <umar Builders 1onstructions to know about
customers buying behaviour towards &esidential properties in 3une city. The
company can come to know various factors affecting the customers8 properties buying
behaviour.
1ompany comes to know about customers e?pectations 0 need for future
properties purchases. The sample si$e taken for this project is 1(( &espondents.
%ence: this market study will provide information to 1ompany: and
1ustomers.
2(
2.3 LIMITATIONS
1> The survey was restricted to selected areas in 3une 1ity only.
2> The time duration of this survey was .( days only.
3> &ainy season was main hurdle for this survey.
'> The response from the respondents was fair enough but not up to the mark or
good enough.
.> This project was only restricted to the residential properties of <B1 0 not
commercials 0 others.
*> The survey area were too far as the city is big enough which caused many
transportation problem.
21
2.4 NEED & SIGNIFICANCE
The study conducted is 3une city reflects the market position of <umar
Builders &esidential 3roperties. It gives us the details of various factors of buying
behavior of customers. The study enables the company to prepare marketing strategy
and plan accordingly: so as to capture a greater market share0 the services provided
by the company. It foresight the future re"uirement of the market and thus helps the
manufacturer to face the future completion in a fully prepared way.
Thus it helps the company to have a good brand image and stepping toward
success.
22
3.1 INTRODUCTION TO COMPANY
"Kumar Group" established on 1.th !ugust: 17** by the Late Shri. K. H.
Oswal: a first generation entrepreneur: with a vision to enter into a core sector
business: housing construction: which had an immense potential was the obvious
choice at that time.
In more than last '( years: the +rgani$ation has grown from strength to
strength striving hard to transform that vision into reality. Today the companyAs name
has become synonymous with the "uality 1onstruction business in 3une.
!n I,+ 7((1 B 2((( 0 1'((1B2((' 1ompany 5CT /+&,<C 4C&IT!,
DE!-ITF ,F,TC 1C&TI#I1!TC =5/4> has awarded an I,+ 7((1B 2(((
1ertificate for Duality anagement ,ystem ,tandards maintained by the company for
23
design: development: construction 0 marketing of &esidential and 1ommercial
comple?es.
<umar Builders has become synonymous with "uality construction in 3une.
The company is known for maintaining international "uality construction standards
and also for its ethics: transparency: reliability: professionalism and refle?ivity.
The <umar Builders Institution boasts of a concrete record of more than 1((
completed projects: over 1(( -akhs ,".#t. completed construction and 13
((satisfied customers. The 3( ongoing residential and commercial projects and
successful diversification into corporate ventures bear testimony to the success story
of <umar Builders.
Quality Policy:
<umar Builders are committed to design: develop: construct and market
&esidential: 1ommercial comple?es and all such types of shelters: which shall meet
customer need consistently. Ge shall further strive to enhance the interest of our
partners: employees: suppliers 0 society.
Quality Objectives:
1. 5emonstrate commitment and compliance to the Duality anagement
,ystem.
2. Improve the competence of employees by continuous training in the areas in
which they work.
3. To be a market leader by enhancing the customer satisfaction.
'. To create a customer focused organi$ation.
Aims:
;Duality is primary; to <umar Builders. !ll systems and procedures are
formulated to achieve the ;Duality +bjective;. Total "uality principles are adopted in
2'
selection of the material: implementation of the project: and even after the project is
handed over. The 9roup is in the process of implementing ATotal Duality
anagementA in all the aspects of its business.
Values:
? %onor and respect those who are e?perts in their fields: those who are wise:
knowledgeable and insightful. 3roject the eminent 0 nurture the learned.
? Be humble and grateful for any gesture: however small
? Gith plentiful resources: guard against mismanagement and waste.
? 5o not use the force but work through. 1onciliation: appreciation and
inspiration.
? aintain your position through growth and e?pansion: which re"uires effort.
? 3ractice five strategies of actionB !lliance: 3atience: +ptimum Etili$ation of
&esources: /urturing of human assets and !ggressiveness.
? 3lan for the ac"uisition of wealth with the eyes of crane: employ a variety of
postures like peacock: strike with the ferocity of a boar and display the velour
of a lion.
? +ffer your gratitude to 9od.
Human Resources:
<umar Builders is professionally managed and a significant force in an
intensely competitive market. This is because we treat our employees with respect and
dignity. Ge believe the growth of the 9roup is dependant on the growth of our people.
They find an independence to chart their own course: an openness to new ideas:
efficiency in implementation and an enormous professional satisfaction. Ge have men
2.
of mission who can face challenging opportunities with finesse and purpose. The open
door policy and informal and vibrant atmosphere is an achievement in itself.
Technology:
In the conte?t of technological advances: the <umar Builders is in the
forefront in implementing ,tate)+f)The)!rt Technology with the latest systems H
/etworking techni"ues. These assists management to access information and establish
proper checks and controls over the business transactions. 1ontinuous technological
up gradation helps the 9roup keep up with time.
Social Obligation:
The group believes in repaying its debt to society and does so in many
different ways. !fter reali$ing the grave need for shelter it has initiated the task of
development of slums. 4arious projects for beautification: Gater #ountains: ,chools:
and 5evelopments of 9ardens: large roadside plantations: drinking water and public
toilets facilities have been taken up. +n a more macro level: the group has contributed
its mite towards promoting sports development: besides lending a helping hand to
many charitable institutions.
? ,lum development
? 5rinking Gater program
? %elping in building better public toilet facility
? Cnvironment cleanliness and beautification
? 1reating gardens
? ,ports
? ,chools and %ospitals
? Tree 3lantations.
2*
After Sales:
<umar Builders strive hard and are committed to provide all such type of
services related to pre 0 post booking activities in order to enhance customer
satisfaction.
Ge assist all the esteemed customers to avail loan: help them in all type of
correspondences re"uired an ensure them to handover timely possession.
It is our endeavor to sort out all the complaints H "ueries before and after sales
to achieve ma?imum customer satisfaction.
Financial Assistance:
• ICICI Bank
• Standard Charted Bank
22
3.2 BRANCHES & OFFICES
Pune Head Office:
<umar 1apital: 2nd #loor:
2'13:Cast ,treet: 1amp:
3une: India ) '11 ((1.
Tel. : I71 =(2(> '(((*((( H1H2H3: 2*3.((*..
Fax : I71 =(2(> 2*33(.6'.
E-mail : salesJkumarbuilders.com
Mumbai Branch Office:
+ffice /o. 2: 1st #loor:
!li 1hambers: /agindas aster &oad
#ort: umbai ) '(( (23
Tel. B I71 =(22> **326'6
**326'61.#a? B I71 =(22> **326'62.
C)mail B kumartechJvsnl.net
Bangalaru Branch Office:
1(H12: 3alace &oad:
13th ain: 4asant /agar
Bangalaru ) .*( (.2
Tel. B I71 =(6(> 223. *622.
Telefa? B I71 =(6(> 223. *6...
26
C)mail B salesblreJkumarbuilders.com
3.3 Achievements & Awards
• <umar Builders receives srishti green cube award from commerce minister
<amal /ath in 5elhi.The ,rishti 9reen 1ube !wards was instituted for K9ood
9reen 9overnance =93>L.
• <umar Builders were the first 1onstruction 1ompany in India to obtain an
I,+ 1'((1B2((' Cnvironment 1ertification.
• <umar Builders bagged the award on the basis of the social activities and their
concern for preservation of the environment: which is seen through the
implementation of e?tensive programmes in the following major areas:
namelyB
? ,olid Gaste anagement
? &ainwater %arvesting
? ,olar Cnergy
? &eduction of 5ust: /oise !nd Gater 3ollution !nd
? C?panding the 9reen Belt.
27
3.4 PRODUCTS RANGE & VARIETY
Residential Projects
Commercial Projects
Multiplex / Retail Projects
IT / BTS Projects
Investment Opportunities
Future Projects
Completed Projects
3(
Kumars Residential Projects
Kumar Meadows Kumar Kruti Buena Vista
Windsor Park Kumar Puram Sophronia
Kumar City Laxmi Vilas Hillscape
The Orion Residency Kumar Surkasha Kumar Dhruv
Kumar Sahawas Kubera Sankul Kumar Shantiniketan
Kubera Vihar Kumar Sansar i-Life
31
3.5 ORGANISATION STAFF & DESIGNATION
No. Name Designation Department
Lalitkumar 1ain 1hairman 0 5
Kruti 1ain C?ecutive 5irector
1 Sameer Palshikar edia anager !dvertising
2 Yogesh Bhave
%.+.5. ) !ccounts
0 #inance
!ccounts 0
#inance
3 Girish Mande %.+.5. Banking
Banking 0
3ayments
4 B.R. Gulati
%.+.5. M
!dministration
!dministration
5 Reena Manjrekar %.+.5. ) 1.&.+. 1.&.+.
6 Surender Khunekari ,r. C?ecutive ) C53 C.5.3.
7 Sheetal 1oshi
1ompany
,ecretory
1.,.
8 K.B. Shivankhede
1hief Technical
1oordinator
1onstruction H
Technical
9 S. Premnath 9 ) Technical
1onstruction H
Technical
10 Anil Nemavarkar 3roject 1o)ordinator
1onstruction H
Technical
11 Ritesh Oswal
%.+.5. M
1orporate arketing
1orporate ,ales 0
kt.
12 Vinay Nimbalkar
%.+.5.
Clectrical
Clectrical
13 D.V. Godbole
%.+.5. )
%orticulture
%orticulture H
-andscape
14 Chandrahas Bollabattin ,r. C?ecutive ) %& %.&.
15 RAHUL BOKIL
anagement
&epresentative
I.,.+.
16 Viresh Parekh 1oordinator -and H -egal
17 B.H. Tingre %.+.5. ) -egal -egal
32
18 Neelima Gohad %.+.5. ) -egal -egal
19 Brig. Ramesh Hasija
%.+.5. )
aintenance
aintenance
20 Vijay Oswal 9.. ) +perations +perations
21 Anil Suratwala
9.. M
Township
5evelopments
3roject 3lanning 0
Township
5evelopments
22 D.S. Thorat
%.+.5. M
3ublic &elations
3ublic &elations
23 Rupam Singh
,r. anager M
3ublic &elations
3ublic &elations
24 Abhay Deshpande %.+.5. ) 3urchase 3urchase
25 Niranjan Bhatkulkar
%.+.5. M
Duantity !nalysis
Duantity !nalysis
26 Ravindra D. Patil
%.+.5. M
Duality !ssurance
Dyality !ssurance
27 Rajendra Bhagat ,ales anager ,ales 0 kt.
28 Anil Deshpande ,ecurity Incharge ,ecurity
29 Mohan Tak 1.C.+. ) 1-EB
,ymphony H
1onniseur 1lub
30 Rajashree Swami
,ystem 0
3rocedure anager
,ystems 0
3rocedure
33
3.6 LIST OF COMPETITORS
Mantri Builders
#ergusson 1ollege &oad
=antri %ouse> ,hop N 727:
5eccan 9ymkhana:
3une '11(('3honeB =2(> 2.**1('(
Bramha Builders
2(.H2.1: .9. &oad
3arvati:
3une '11((7
3honeB =2(> 2*33((.2
Panchshil Real Estate Consultant
Bund 9arden &oad
=<onar Cstate>
3une %.+.:
3une '11((13honeB =2(> 2*1223**
Rohan Builders (I) Private Limited
613: Bhandarkar &oad
=3radeep 1hambers>
5eccan 9ymkhana:
3une '11(('3honeB =2(> 2.*2''13
Paranjape Schemes Constructions
!nand 1olony: Crandwane
=3,1 %ouse>
5eccan 9ymkhana:
3une '11(('3honeB =2(> 3(2233''
Nyati Builders Private Limited
<alyani /agar
=/yati 1ommerce %ouse>
Ferwada:
3une '11((*3honeB =2(> 2**6*123
D.S. Kulkarni Developers Limited
1162H*
Oangali aharaj &oad=5,< %ouse>
,hivajinagar %.+.:
3une '11((.3honeB =2(> .*('21((
K Raheja Private Ltd.,
,urvey /o. 1'' 0 1'.:
,amrat !shok 3ath: +ff. !irport &oad:
Ferwada: 3une M '11 ((*
TelB I71 (2( 2*1126.7
3'
4. THEORETICAL BACKGROUND OF BUYING BEHAVIORS
? Definition of Buying Behaviour:
Buying Behavior is the decision processes and acts of people involved in
buying and using products.
The dynamic interaction of affect and cognition: behaviour: and the
environment by which human beings conduct the e?change aspects of their lives
? Meaning of Consumer Behaviour:
1onsumer behaviour can be looked upon as a study of how individuals make
decisions on how to spend their available resources like time: money and effort on
various consumption)related items.
%uman beings are greatly influenced in their buying actions by various factors
like opinions of others: marketing stimuli like product: advertising: packaging and
product appearance
? Scope of Consumer Buying Behaviour
• Ghy do consumers buy a particular productHservice brandP
• %ow do they buy themP
• Ghere do they buy these productsP
• %ow often do they buy themP
• Ghen do they buy themP
• Ghat factors influence the decision making process of the consumersP
• The buying process involves the user: influencer: decider: and the buyer
3.
• The process is greatly affected by selective information received by a
consumer
• It is very important to understand what and how much information is
re"uired by the consumer to help him evaluate the products and services
• !s such understanding why a consumer finally buys a product is very
comple?
? Importance Of Consumer Behaviour
• Cver increasing intensity of competition
• ore aggressive competitors emerging with greater fre"uency
• 1hanging bases of competition
• 9eographic sources of competition are becoming wider
• /iche attacks are becoming fre"uent
• 3ace of innovation is rapid
• 3rice competition becoming more aggressive
• 3roduct differentiation is declining
? Why Focus On Consumer Behaviour
• 3rofit making through customer satisfaction
• 5ramatic increase in the "uality of consumer and
marketing research
• 5evelopment of consumer behaviour research
• ,hifting from the mass marketing concept to individual
marketing concept.
? Characteristics Of Consumer Behaviour
Consumer behaviour is dynamicB
3*
• The feelings: thinking: perceptions: and actions
of the consumers and the society at large keep changing fre"uently.
• ,trategies that work today may not work
tomorrow.
• The product life cycles are becoming shorter.
? Benefits of Consumer Behaviour
• ,tay loyal for a long time
• Buy new products and upgrade e?isting ones
• Talk favourably about the firm and its products
• 3ay less attention to competing brands
• +ffer productHservice ideas to the firm
• !re cost effective
? Approaches To Consumer Behaviour
Managerial:
• icro and cognitive in nature
• Cmphasi$es on attitudes: perceptions: lifestyle and demographic
characteristics
• Cnvironmental effects)reference groups: family and culture
• &isk of this approach is overemphasis on rationality of a consumer and
overlooks
• the dynamics of environmental factors independent of the individual
• Tends to focus more on purchase than on consumption
Holistic:
32
• ore macro in approach
• Tends to focus more on consumption e?perience than on purchasing
process
• ,tresses the broader: culturally derived conte?t of consumption
• Cmphasi$es on environmental conte?t of the consumer8s actions
• This approach may not be actionable and all decisions are not rational.
? Need To Understand Consumer Buying Behaviour:
• Ghy consumers make the purchases that they makeP
• Ghat factors influence consumer purchasesP
• The changing factors in our society.
• 1onsumer Buying Behavior refers to the buying behavior of the
ultimate consumer. ! firm needs to analy$e buying behavior forB
? Buyers reactions to a firms marketing strategy has a
great impact on the firms success.
? The marketing concept stresses that a firm should create
a Marketing Mix => that satisfies =gives utility to> customers:
therefore need to analy$e the what: where: when and how
consumers buy.
? arketers can better predict how consumers will
respond to marketing strategies.
? Stages of Consumer Buying Process:
,i? ,tages to the 1onsumer Buying 5ecision 3rocess =#or comple? decisions>.
!ctual purchasing is only one stage of the process. /ot all decision processes lead to a
36
purchase. !ll consumer decisions do not always include all * stages: determined by
the degree of comple?ity.
The 6 stages are:
1. Problem %eco#nition=awareness of need>))difference between the desired
state and the actual condition. 5eficit in assortment of products. %unger))
#ood. %unger stimulates your need to eat.
1an be stimulated by the marketer through product information))did not know
you were deficientP I.C.: see a commercial for a new pair of shoes: stimulates
your recognition that you need a new pair of shoes.
2. *nformation search--
? Internal search: memory.
? C?ternal search if you need more information. #riends
and relatives =word of mouth>. arketer dominated sourcesQ
comparison shoppingQ public sources etc.
! successful information search leaves a buyer with possible alternatives: the
evoked set. %ungry: want to go out and eat: evoked set is
? 1hinese food
? Indian food
? Burger king
? <londike <ates etc
3. Evaluation of )lternatives--need to establish criteria for evaluation: features
the buyer wants or does not want. &ankHweight alternatives or resume search.
ay decide that you want to eat something spicy: indian gets highest rank etc.
If not satisfied with your choice then return to the search phase. 1an you think
of another restaurantP -ook in the yellow pages etc. Information from
37
different sources may be treated differently. arketers try to influence by
;framing; alternatives.
4. Purchase decision--1hoose buying alternative: includes product: package:
store: method of purchase etc.
5. Purchase--ay differ from decision: time lapse between ' 0 .: product
availability.
6. Post/Purchase Evaluation--outcomeB ,atisfaction or 5issatisfaction.
Co#nitive (issonance: have you made the right decision. This can be reduced
by warranties: after sales communication etc.
!fter eating an indian meal: may think that really you wanted a chinese meal
instead.
? Types Of Consumer Buying BehaviourB
Types of consumer buying behavior are determined byB
• -evel of Involvement in purchase decision. Importance and intensity of
interest in a product in a particular situation.
• Buyers level of involvement determines why heHshe is motivated to seek
information about a certain products and brands but virtually ignores
others.
%igh involvement purchases))%onda otorbike: high priced goods: products visible
to others: and the higher the risk the higher the involvement. Types of riskB
• 3ersonal risk
• ,ocial risk
• Cconomic risk
The four type of consumer buying behavior areB
'(
? &outine &esponseH3rogrammed Behavior))buying low involvement
fre"uently purchased low cost itemsQ need very little search and decision
effortQ purchased almost automatically. C?amples include soft drinks:
snack foods: milk etc.
? -imited 5ecision aking))buying product occasionally. Ghen you
need to obtain information about unfamiliar brand in a familiar product
category: perhaps. &e"uires a moderate amount of time for information
gathering. C?amples include 1lothes))know product class but not the
brand.
? C?tensive 5ecision akingH1omple? high involvement:
unfamiliar: e?pensive andHor infre"uently bought products. %igh degree of
economicHperformanceHpsychological risk. C?amples include cars: homes:
computers: education. ,pend a lot of time seeking information and
deciding.
Information from the companies Q friends and relatives: store
personnel etc. 9o through all si? stages of the buying process.
? Impulse buying: no conscious planning.
The purchase of the same product does not always elicit the same Buying Behavior.
3roduct can shift from one category to the ne?t.
#or e?ampleB
9oing out for dinner for one person may be e?tensive decision making =for someone
that does not go out often at all>: but limited decision making for someone else. The
reason for the dinner: whether it is an anniversary celebration: or a meal with a couple
of friends will also determine the e?tent of the decision making.
'1
? Categories That Effect The Consumer Buying Decision Process
! consumer: making a purchase decision will be affected by the following
three factorsB
1. 3ersonal
2. 3sychological
3. ,ocial
The marketer must be aware of these factors in order to develop an appropriate
for its target market.
1. Personal
Eni"ue to a particular person. 5emographic #actors. ,e?: &ace: !ge etc.
Gho in the family is responsible for the decision making. Foung people purchase
things for different reasons than older people.
2. Psychological factors
3sychological factors includeB
• Motives--
! motive is an internal energi$ing force that orients a personAs
activities toward satisfying a need or achieving a goal.
!ctions are effected by a set of motives: not just one. If marketers can identify
motives then they can better develop a marketing mi?.
!,-+G hierarchy of needsRR
o 3hysiological
o ,afety
o -ove and Belonging
o Csteem
o ,elf !ctuali$ation
'2
/eed to determine what level of the hierarchy the consumers are at to
determine what motivates their purchases.
• Perception--
Ghat do you seeP 3erception is the process of selecting: organi$ing
and interpreting information inputs to produce meaning. IC we chose what
info we pay attention to: organi$e it and interpret it.
Information inputs are the sensations received through sight: taste: hearing:
smell and touch.
Selective Exposure)select inputs to be e?posed to our awareness. ore likely
if it is linked to an event: satisfies current needs: intensity of input changes.
Selective (istortion)1hangingHtwisting current received information:
inconsistent with beliefs.
!dvertisers that use comparative advertisements: have to be very careful that
consumers do not distort the facts and perceive that the advertisement was for
the competitor.
Selective %etention)&emember inputs that support beliefs: forgets those that
donAt.
• Ability and Knowledge--
/eed to understand individual8s capacity to learn. -earning: changes in
a personAs behavior caused by information and e?perience. Therefore to
change consumersA behavior about your product: need to give them new
information reB product...free sample etc.
0no1led#e is the familiarity with the product and e?pertise.
Ine?perience buyers often use prices as an indicator of "uality more than those
who have knowledge of a product.
'3
2earnin# is the process through which a relatively permanent change in
behavior results from the conse"uences of past behavior.
• Attitudes--
<nowledge and positive and negative feelings about an object or
activity)maybe tangible or intangible: living or non) living.....5rive
perceptions Individual learns attitudes through e?perience and interaction with
other people.
1onsumer attitudes toward a firm and its products greatly influence the
success or failure of the firmAs marketing strategy.
!ttitudes and attitude change are influenced by consumers personality
and lifestyle.
1onsumers screen information that conflicts with their attitudes.
5istort information to make it consistent and selectively retain information
that reinforces our attitudes. IC brand loyalty.
There is a difference between attitude and intention to buy =ability to
buy>.
• Personality--
!ll the internal traits and behaviors that make a person uni"ue:
uni"ueness arrives from a personAs heredity and personal e?perience.
C?amples includeB
? Gork holism
? 1ompulsiveness
? ,elf confidence
? #riendliness
? !daptability
''
? !mbitiousness
? 5ogmatism
? !uthoritarianism
? Introversion
? C?troversion
? !ggressiveness
? 1ompetitiveness.
Traits effect the way people behave. arketers try to match the store image to
the perceived image of their customers.
There is a weak association between personality and Buying BehaviorQ this
may be due to unreliable measures.
• Lifestyles--
&ecent E, trends in lifestyles are a shift towards personal
independence and individualism and a preference for a healthy: natural
lifestyle. -ifestyles are the consistent patterns people follow in their lives.
3. Social Factors
1onsumer wants: learning: motives etc. are influenced by opinion leaders:
personAs family: reference groups: social class and culture.
• Opinion leaders--
,pokespeople etc. arketers try to attract opinion leaders...they actually use =p
y> spokespeople to market their products. ichael Oordon =/ike: c5onalds:
9atorade etc.> 1an be risky...ichael Oackson...+O ,impson...1hevy 1hase
• Roles and Family Influences--
'.
&ole...things you should do based on the e?pectations of you from your
position within a group.
3eople have many roles. %usband: father: employerHee. Individuals
role are continuing to change therefore marketers must continue to update
information.
#amily is the most basic group a person belongs to. arketers must
understandB
? that many family decisions are made by the family unit
? consumer behavior starts in the family unit
? family roles and preferences are the model for childrenAs future family
=can rejectHalterHetc>
? family buying decisions are a mi?ture of family interactions and
individual decision making
? #amily acts an interpreter of social and cultural values for the
individual.
The #amily life cycleB families go through stagesQ each stage creates different
consumer demandsB
? Bachelor stage.
? newly married: young: no children...me
? full nest I: youngest child under *
? full nest II: youngest child * or over
? full nest III: older married couples with dependant children
? empty nest I: older married couples with no children living with them:
head in labor force
'*
? empty nest II: older married couples: no children living at home: head
retired
? solitary survivor: in labor force
? solitary survivor: retired
? oderni$ed life cycle includes divorced and no children.
• Reference Groups--
Individual identifies with the group to the e?tent that he takes on many
of the values: attitudes or behaviors of the group members.
#amilies: friends: sororities: civic and professional organi$ations. !ny group
that has a positive or negative influence on a persons attitude and behavior.
&embership #roups =belong to>
!ffinity marketing is focused on the desires of consumers that belong to
reference groups. arketers get the groups to approve the product and
communicate that approval to its members. 1redit 1ards etc.
)spiration #roups =want to belong to>
(isassociate #roups =do not want to belong to>
• Social Class-
!n open group of individuals who have similar social rank. E, is not a
classless society. E, criteriaQ occupation: education: income: wealth: race:
ethnic groups and possessions.
,ocial class influences many aspects of our lives. IC upper middle class
!mericans prefer lu?ury cars ercedes.
? Epper !mericans)upper)upper class: .3S: inherited wealth: aristocratic
names.
'2
? -ower)upper class: 1.2S: newer social elite: from current professionals
and corporate elite
? Epper)middle class: 12..S: college graduates: managers and
professionals
? iddle !mericans)middle class: 32S: average pay white collar
workers and blue collar friends
? Gorking class: 36S: average pay blue collar workers
? -ower !mericans)lower class: 7S: working: not on welfare
? -ower)lower class: 2S: on welfare
,ocial class determines to some e?tent: the types: "uality: "uantity of products that a
person buys or uses. -ower class people tend to stay close to home when shopping: do
not engage in much pre)purchase information gathering. ,tores project definite class
images. #amily: reference groups and social classes are all social influences on
consumer behavior. !ll operate within a larger culture.
• Culture and Sub-culture--
1ulture refers to the set of values: ideas: and attitudes that are accepted
by a homogenous group of people and transmitted to the ne?t generation.
1ulture also determines what is acceptable with product advertising. 1ulture
determines what people wear: eat: reside and travel. 1ultural values in the E,
are good health: education: individualism and freedom. In american culture
time scarcity is a growing problem. IC change in meals. Big impact on
international marketing.
'6
5. RESEARCH METHODOLOGY
What is Research?
The following eight characteristics of research will serve us well in defining meaning
of research.
Cight characteristics of researchB
1. &esearch originates with a "uestion or a problem.
2. &esearch re"uires a clear articulation of a goal.
3. &esearch follows a specific plan of procedure.
'. &esearch usually divides the principal problem into more manageable sub)
problems.
.. &esearch is guided by the specific research problem: "uestion: or hypothesis.
*. &esearch accepts certain critical assumptions. These assumptions are
underlying theories or ideas about how the world works.
'7
2. &esearch re"uires the collection and interpretation of data in attempting to
resolve the problem that initiated the research.
6. &esearch is: by its nature: cyclicalQ or more e?actly: spiral or helical.
? This project is concern with Survey Research:
,urvey research is one of the most important areas of measurement in applied
social research. The broad area of survey research encompasses any measurement
procedures that involve asking "uestions of respondents. ! ;survey; can be anything
form a short paper)and)pencil feedback form to an intensive one)on)one in)depth
interview.
? Survey Method: -
,urvey research method is techni"ue of investigation by direct
observationHrespondent or by systematic gathering of data from population.
Advantages of Survey Method:-
1> Inferences based on facts.
2> 3ersonal 1ontracts with respondents.
3> Instrument of social development.
'> 9reater objectivity.
.> ore reliability of the data.
? Questionnaire: -
Duestionnaire is used to collect information from respondent. In this study
"uestionnaire content both close ended 0 open)ended "uestionnaire.
.(
Sample size is100 respondents which are further calculated in percentage and
shown graphically in various charts.
Respondents as sample unit.
? Non-Random 1udgment Sampling
/on)probability sampling is that procedure which does not afford any basis
for estimating the probability that each item in the population has of being included in
the sample.
? For this project Primary as well as Secondary data is use.
? Primary Data:
Information collected for first time is called as 3rimary 5ata 0 is in the
original character. 3rimary data collected either through observation or through direct
communication with respondents in one form or another or through personal
interviews.
3rimary data is collected through the survey method with help of
"uestionnaire.
? Secondary Data:
,econdary data means data which already been collected and analy$ed by someone
else. ,econdary data collected from books: Internet 0 maga$ines.
.1
• Research Design:-
&esearch design is the guideline: which help the researcher to get the re"uired
information from the respondents within the specific time limit:
6. DATA ANALYSIS
1) Table showing present type of Residential Ownership.
Type No. of Respondents º of Respondents
+wnership 3* 3*S
+n &ental '7 '7S
+thers 1. 1.S
Total 1(( 1((S
.2
The above table shows that: ma?imum no. of respondents stays on rental basis
i.e.'7S: 3*S of the respondents have their ownership on residence and 1.S of
respondents are in others category: which include residence on lease or staying at
relative.
2) Table showing areas preferred to purchase residential properties.
Area No. of Respondents º of Respondents
Peth Area 11 11S
Kalyani Nagar 17 R7 S
Hadapsar 23 23S
Kondwa 2* 2*S
Katraj (2 (2S
Baner (. (.S
Pashan (7 (7S
Total 1(( 1((S
The above table shows that ma?imum no. of respondents i..e.2*S prefer <ondwa
area: whereas 23S of respondents preferred %adapsar area: while 17S of respondents
.3
prefer <alyani /agar area: whereas (7S of respondents preferred 3ashan area while
(2S of respondents preferred <atraj area and (.S of respondents preferred Baner
area for purchasing residential properties.
3) Table Showing Factors taken into consideration while purchasing Residential
properties.
Factors No. of Respondents º of Respondents
Location 26 26S
Price 37 37S
Transportation Facility 1* 1*S
Accessibility to Market (2 (2S
Others 1( 1(S
Total 1(( 1((S
The above table shows that ma?imum no. of respondents i.e. 37S consider 3rice:
whereas 26S consider location while 1*S consider transportation facility whereas
1(S consider other factors like 4astushastra: Gater availability etc. and (2S of
respondents consider accessibility to market as important factor for purchasing
residential properties.
.'
4) Table showing Parameters considers while selecting residential properties.
Parameters No. of Respondents
Brand Name .3
Quality *2
Space (Sq. ft.) '7
Facilities 23
Interior 3(
Schemes .2
The above table shows that ma?imum no. of respondents i.e. 23 consider #acilities as
parameter while *2 respondents consider Duality: whereas .2 of respondents consider
,chemes whereas .3 respondents consider Brand name while '7 respondents consider
,pace =,". ft.> and 3( respondents consider Interiors as the parameters while selecting
residential properties.
5) Table showing sources of Information for respondents while Property
Purchasing.
..
Sources No. of Respondents º of Respondents
Hoardings 13 13S
Newspapers 12 12S
Agents/Consultants 33 33S
Relatives/Friends 26 26S
Others (7 (7S
Total 1(( 1((S
!bove table shows that 33S of respondents get their information from !gents
H1onsultants: where as 26S of respondents get information from &elativesH #riends
while 12S of respondents get information from /ewspapers whereas 13S of
respondents get information from %oardings and (7S of respondents get their
information through +ther ,ources like -ocal /ews 1hannel:&adio:Internet etc. for
3urchasing &esidential 3roperties.
6) Table showing awareness in respondents about various schemes offered by
KBC.
Awareness No. of Respondents º of Respondents
Yes *2 *2S
No 33 33S
Total 1(( 1((S
.*
The above table shows that ma?imum no. of respondents i.e. *2S were aware about
the various schemes offered by <B1 whereas 33S of respondents were not aware
about various schemes offered by <B1.
7) Table showing duration of the year when normally respondents like to
purchases residential properties.
Month No. of Respondents º of Respondents
1an to Apr 3. 3.S
May to Aug 13 13S
Sept to Dec .2 .2S
Total 1(( 1((S
.2
!bove table shows that ma?imum no. of respondents i.e. .2S would prefer ,ept to
5ec as the duration where as 3.S respondents would prefer Oan to !pr while 13S of
respondents prefer ay to !ug as the duration of the year where they would like to
purchase residential properties.
8) Table showing type of Residential property respondents would like Purchase.
Type No. of Respondents º of Respondents
1 BHK Flat 16 16S
2 BHK Flat '6 '6S
3 BHK Flat 2' 2'S
Bungalow/Row house (' ('S
Others (* (*S
Total 1(( 1(( S
.6
!bove table shows that ma?imum no. of respondents that is '6S would like to
purchase 2 B%< #lat: whereas 2'S respondents prefer 3 B%< #lat: while 16S
respondents prefer 1B%< #lat whereas 'S of respondents prefer BungalowH&ow
house and (*S respondents prefer others which include 5uple?: Terrace #lat:
!ttached #lat etc. for purchases of residential property.
9) Table showing mode of purchases of residential property preferred by
respondents.
Mode No. of Respondents º of Respondents
Home Loans .2 .2S
Lum-sum (* (*S
Installments 33 33S
Others (' ('S
Total 1(( 1((S
.7
!bove table shows that ma?imum no. of respondents i.e..2S would prefer %ome
-oans whereas 33S of respondents would prefer Installments while (*S of
respondents would prefer -um)sum and ('S of respondents prefer +thers.
7. FINDINGS
1> 5uring the time of survey: it was found that '7S respondents are having the
resident on rental: 3*S respondents are having own property 0 1.S respondents
are having other sources such as lease: relatives 0 friends etc.
2> It was found that 2*S of respondents were preferred to purchase residential
property in <ondwa area: 23S of respondents in %adapsar 0 17S: 11S: 7S: 2S
*(
people in <alyani /agar: 3eth area: 3ashan /agar: <atraj area respectively: only
.S respondents were preferred in Baner area.
3> It was found that the price 0 location is major factor which consider by the
customer at the time of purchasing the residential property. %ere 37S
respondents are considering the price: 26S respondents are consider location 0
1*S 0 2S respondents are considering transportation 0 market facility.
'> It was found that the @"uality8 0 @facilities8 are most considerable parameters at
the time of selecting residential property. Brand /ame 0 schemes are also
consider the consumer at the time of purchasing the residential property.
.> It was found that the source of information for consumers the real estate
consultant play very vital role. 33S respondents go through the consultants: 26S
respondents prefer relatives 0 friends: 12S go through newspapers 0 22S
respondents prefer through hoarding 0 others sources.
*> It was found *2S respondents were aware of various schemes offered by <B1 0
33S respondents were not aware. %ere the most of the respondent8s opinions
about schemes of <B18s are good.
2> In the duration of ,eptember to 5ecember the most of the respondents were like
to purchase the residential property because most of the festival are in this
duration. %ere .2S respondents preferred in ,eptember to 5ecember: 3.S
*1
respondents preferred in Oanuary to !pril 0 13S respondents preferred in ay 0
!ugust.
6> It was found that demand of the 2 0 3 B%< flats were more as comparing to
other types. '6S respondents prefer 2 B%< flat: 2'S respondents prefer 3 B%<
0 16S 0 'S respondents choose the 1 B%< 0 Bungalow respectively. %ere
*S respondents go through the other type such as 5uple? flat: 9allery or Terries
0 1 %< flat.
7> In the mode of payments .2S respondents go through home loans of various
banks 0 private financial institutes: 33S respondents go through installments:
*S respondents through lum sum amount 0 'S respondents choose other mode
of payments.
1(> It was found that the close competition of <B1 were 4ascon: Bramha Builders 0
/yati Builders which were mostly known by the respondents.
*2
8. CONCLUSION
• It can be seen that <umar Builders is most popular brand.
• Duality is considering lot while purchasing residential property.
• The <umar Builders stands first among three top companies in 3une city.
• The Buyers consider Duality and price while purchasing the residential
property.
• The customer may change the Brand if the 3articular brand is not available
and also because of close substitute.
• 3rice hike is also one of the reasons for change in brand.
• !dverting and other sales promotion tools have a great effect on sales of the
residential property.
*3
9. RECOMMENDATIONS
1. <B1 should try to tap other market potentials: such as /asik:
<holapur: ,urat !hmedabad and 2
nd
tire cities.
2. <B1 should try to decrease #ive star amenities with a view to cut
down the property prices and there by attracting the middle class.
3. <B1 should actively participate and organi$e property e?hibition:
trade shows: hoardings: etc. to create awareness in the market.
'. <B1 should organi$e annual customer meet to appreciate those
customer who have been with them and awarded them.
.. <B1 should take mass media such as television more precisely cable
media to target local customers.
*. <B1 should also concentrate more on interior decoration to compete
with other competitors.
2. <B1 should reduce the maintenance charges.
6. <B1 should also concentrate on 1& activities: such as loyalty to
create strong good will and gain new customer.
*'
ANNEXURE
Questionnaire
“A STUDY ON CONSUMER BUYING BEHAVIOUR TOWARDS
RESIDENTINAL PROPERTIES IN PUNE CITY”
WITH SPECIAL REFERENCE TO KUMAR BUILDERSS
Personal Details
NAME:-
OCCUPATION :-
GENDER:-
FAMILY SIZE :-
CONTACT :
E-MAIL:-
NO. OF EARNING MEMBERS:-
ANNUAL INCOME:
1. 5o you have any plan to purchase residential property in 3uneP
? Fes ? /o
2. Ghat is your present type of propertyP
? +wnership ?+n rental ? +thers
3. In which area would you prefer to purchase residential propertiesP GhyP
? 3eth area ? %adapsar ? 3ashan ? Baner
? <alyani nagar ?<atraj ? <ondwa
*.
'. Ghich factor do you take in to consideration while purchasing residential
propertiesP =1hoose any one>
? -ocation ? 3rice
? Transportation facility ? !ccessibility to market
? Others ___________________________________________
.. Ghich parameters do you take in to consideration while selecting a residential
propertyP =!llow to multiple choice>
? Brand /ame ? Duality
? ,pace =s". ft> ? #acilities
? Interiors ? ,chemes
*. Ghich other construction company H industry are you aware of other than <B1P
=+pen ended>
TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
TTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTTT
2. 3l$. Indicate the source of information that you consider for property purchasingP
=choose any one>
? %oarding ? /ewspapers
? !gent ? &elatives
? +thers
6. !re you aware of various schemes offered by <B1P
? Fes ? /o
**
If yes what is your opinion:
? 4ery 9ood ? 9ood ? !verage
7. 5uring which duration of the year normally would you like to purchase residential
propertiesP
? Oan. to !pr. ? ay to !ug. ? ,ep. to 5ec.
1(. Ghat type of residential property you would like to purchasesP
? 1B%< #lat ?2B%< #lat
? 3B%< #lat ? BungalowsH&ow %ouse
? +thers
11. Ghat will be your mode of purchase of residential propertyP
? %ome -oans ? -um sum
? Installments ? +thers
TTTTTTTTTT
,ignature
*2
BIBLIOGRAPHY
Books referred
Title B ) arketing anagement
Name of the Author B ) 3hilip <otler
Title B ) arketing &esearch
Name of the Author B ) Thomas 1 <innear
Title B ) 1onsumer Buying Behavior
Name of the Author B ) O. 3aul 3eter
Title B ) &esearch ethodology
Name of the Author B ) 5r. ,. ,hajahan
Other sources:-
1> /ews 3aper
2> aga$ines
3> Internet websites
Webliography Referred :
a> www.google.com
b> www.marketingprofessors.com
c> www.indiatimes.com
d> www.kumarbuilders.com
*6
*7
doc_629400479.doc