PREFACE

Research project is the bridge for the student that takes him from his theoretical knowledge world to practical industrial world. The advantage of this sort of integration (research programme), which promotes guided to corporate culture, functional, social and norms along with formal teaching are numerous. The main aim is: To bridge the gap between theory and practical To help the students to develop the better understandings of concepts and question already raised or to be raised subsequently during their research period. The present research report gives a detailed view of detailed consumer behavior towards purchasing a property.

ACKNOWLEDGEMENT

Preservation, inspiration and motivation have always played a key role in the success of any venture. In the present world of cut throat competition project is likely a bridge between theoretical and practical working, willingly I have prepared this particular project. Firstly, I would like to extend my sincere thanks to Mrs Shilpa Khanna (HOD) and Dr. S C Aggarwal (director) for her able guidance, regular counseling, keen interest and constant encouragement, without this support the project would not have a successful end. I am highly thankful to her for his helpful attitude, regular coaching and inspiration. I sincerely thank to all faculty members and the staff associated for their support given to me time to time. Also, I would like to thank to all my friends and family members for their support given to me time to time. I dont have words to express my thanks, but still my heart is full of gratitude for the favors received by me from every person.

(Shivinder Singh)

DECLARATION

I, Shivinder Singh the undersigned, hereby declare that this report entitled CONSUMER BUYING BEHAVIOUR TOWARDS PURCHASING A PROPERTY is a genuine and bonafied work prepared by me under the guidance of Mrs Shilpa Khanna (HOD.), and is my original work. The matter in this report is not copied from any source. This work is humbly submitted to AIMT for the award of degree of Master of Business Administration.

Place: Date: (Shivinder Singh)

TABLE OF CONTENTS

CHAPTER-I

INTRODUCTION

INTRODUCTION TO INDUSTRY

The term real estate is defined as land, including the air above it and the group below it, and any building or structure on it is also referred to as realty. It covers residential housing, commercial offices, and trading spaces such as theater, hotels, and restaurant retail outlets, industrial buildings such as factories and government buildings. Real estate involves the purchase, sale and development of land, residential and non- residential buildings. The main players in the real estate market are the landlords, developers, builders, real estate agents, tenants, buyers etc. The activities of the real estate sector encompass the housing and construction sectors also. The real estate sector in India has assumed growing importance with the liberalization of the economy. The consequent increase in business opportunities and migration of the labor force has, in turn, increased the demand for commercial and housing space, especially rental housing. Developments in the real estate sector are being influenced by the developments in the retail, hospitality and entertainment (e.g.: Hotels, resorts, cinema theater) industries, economies services and information technology (IT) enabled services etc. The real estate sector is a major employment driver, being the second largest employer next only to agriculture. This is because of the chain of backward and forward linkage that the sector has with the other sectors of economy, especially with the housing, construction and commercial sector. About 250 ancillary industries such as cement, steel, brick, timber, building material etc are dependent on the real estate industry. The real estate sector in India is on a growth path. The development in the real estate market encompasses growth in both commercial and residential spheres. Further, it has been estimated that there would be shortage of 26.53 million houses during the Eleventh Five Year Plan (2007-12), which provides a big investment opportunity, according to a report by the Technical Group on Estimation of Housing Shortage. The popularity of the Indian real estate sector is also highlighted by a report Emerging trends in Real Estate in Asia Pacific 2011 published by Price Water house Coopers and Urban Land Institute. The report focuses on various places where developers such as NHIL Properties and Omaxe are building commercial

and residential developments. These places include Jodhpur, Agra, Punjab, Uttar Pradesh, Haryana, Madhya Pradesh, and Rajasthan among others. The real estate sector in India has assumed growing importance with the liberalization of the economy. The consequent increase in business opportunities and migration of the labor force has, in turn, increased the demand for commercial and housing space, especially rental housing. People looking for a new home have started focusing on the upcoming NCR area comprising Gurgaon, Noida, GreaterNoida, Faridabad and Ghaziabad .Interest in real estate has increased dramatically in recent years. In addition, approaches to real estate investment and financing continue to expand and evolve. There are now a myriad of ways of investing in real estate. These include purchasing properties directly as an individual or with other investors in a partnership, or investing in the stock of publicly traded real estate companies. The latter companies, called real estate investment trusts (REITs), develop and own properties throughout the nation. Investments can also be made in mortgage loans that are used to finance real estate. These investments could include making a mortgage loan (as a lender) or purchasing publicly traded mortgage-backed securities (residential or commercial).

Brief introduction
Indian Organized Retail Market is accelerating with players like Wal-Mart, Bharti, and Reliance etc. which stepped up the demand for real estate. According to analysts, a price index must be incorporated for the housing market to track price movement. And even the government must ensure that there is no shortage of funds. Recent harbinger, the Securities Exchange Board of India is permitting Real Estate Industrys mutual funds in both private and public sector which would go in a long way in attracting funds from small investors emphasizing certain return. Another impediment that can be eased on the discretion of government is the existing tax laws and other complex regulations relating to multidimensional real estates such as industrial parks and SEZs. The success behind the sudden rise of Indian Real Estate Industry is due to the positive outlook of Indian government and which is the second largest employer after agriculture in India. Today this budding sector is witnessing development in all area such as - residential, retail and

commercial in metros of India such as Mumbai, Delhi & NCR, Kolkata and Chennai. Easier access to bank loans and higher earnings are some of the pivotal reasons behind the sudden jump in Indian real estate. Government of India has proposed to achieve 9.0% GDP growth during the Eleventh Plan period and to achieve growth adequate infrastructure is the most basic requirement. To overcome the current constraints of insufficient modern infrastructure, the government is developing a program for infrastructure investment through both public and private sectors, and expects to more than double public investments from 1.2% of GDP in FY07 to 2.8% by FY12. Indian Real Estate Industrys favorable demographics, rising purchasing power, availability of cheap finance, professionalism and reforms initiated by the government are some of the major drivers of this spectacular growth. The burgeoning outsourcing and IT/ITES industry had contributed to the demand for quality office space as with most of the blue-chip MNC's setting shop in the country. Today the estimated demand for IT/ITES Industry alone is expected to be 150 million sq ft of space across the major cities in the year 2010. While in residential segment, availability of easy home finance and rising purchasing power has driven the growth. Builders today are launching high-end, lifestyle residential products to cater to the growing bunch of high net worth individuals. In residential sector there is housing shortage of 19.4 million units out of which 6.7 million are in urban India.

Size of the industry

India today is the second fastest-growing economy in the World. The Indian construction industry is been playing a major role in overall economic development of the country, growing at over 20% CAGR over the past 5 years and contributing ~8% to GDP. In 2005, the sector generated around 31 million jobs. The size of the Indian Real Estate Industry is estimated to be around US$ 12 billion and this figure is growing at a pace of 30% since few years.

Top leading Companies

GMR Group is a business house of 2,500 crore focused on infrastructure development as a key growth driver for India

The DLF Group one of the leading company in India's real estate industry The Salarpuria Group is an ISO 9001:1000 company with offices based in Bangalore, Kolkata and Delhi

The D.S. Kulkarni Group of Companies which enjoys a commanding presence in the housing sector in Pune and Mumbai.

Rishi Ventures with 9 years of market stand has impressive track record. DHFL (Dewan Housing Finance Corporation Limited) founded in 1984 by Late Shri Rajesh Kumar Wadhawan with a motto to provide financial access to the lower and middle income segment of the society.

Janapriya Engineers Syndicate started in the year 1985.

Latest developments

In 2010 the Private equity fund IL&FS Investment Managers (IIML) has planned to invest US$ 300 million in real estate and urban infrastructure projects.

Recently Godrej Group's real estate company, Godrej Properties and Frontier Home Developers has planned to develop a residential project in Gurgaon. It would be a first residential project in the national capital region (NCR) for Godrej Properties.

Shristi Infrastructure Development Corporation would invest US$ 444.7 million over the next three years in seven small cities in West Bengal, Tripura and Rajasthan.

70% of foreign investors in India are making profits as the Real estate investments in India yield huge dividends.

The relaxed FDI rule implemented by Government of India has invited more foreign investors and Indian Real Estate Industry seems to be the most lucrative ground at present. Such friendly revised investor policies allowed foreigners to own property, and dropped the minimum size for housing estates built with foreign capital to 25 acres (10 hectares) from 100 acres (40 hectares).

REAL ESTATE IS A GROWING SECTOR IN INDIA

Real estate in India will continue to rock. Profound economic suggest that the realty sector would grow at 30% per annum to reach to $45 to 50 billion by 2010 from the existing $12 billion. To achieve this growth real estate in India would require huge investments over the next five years. By 2015 it is projected that the market size would grow to $ 90 billion. Estimated suggest that the urban housing sector would require investments to the tune of $25 billion (Rs 1.10 lakh crore) over the next five years. Prices have remained buoyant as new construction lags. According to surveys there is a shortage of 19.4 million units (12.7 million units in rural areas and 6.7 million units in urban areas) in the country about three years ago, which will require real estate in India. Real estate in India will trigger economic growth infrastructure development and enabling government policies would help trigger growth. Real estate in India will help high economic growth has fuelled the demand for real estate. Cities continue to attract interest from IT and ITES companies that are either establishing a base or are looking to expand which will give rise to real estate developer in India. It is the suburban locations that are witnessing development activity due to easier availability of land construction of large floor plate and offer of built to suit facilities thus helping housing construction company in India. According to one estimate the IT and ITES sector are creating 200,000 jobs per annum which itself will create a demand in commercial space of 15 million square feet. Besides it will generate a huge demand for residential flats. So more need for luxury residential apartments in India. Real estate in India assumes that 25 % of the work force joining the IT/ITES sector required independent housing there would be demand for 50 million sq ft of residential accommodation every year to meet the need of the workforce joining the IT/ITES sector alone. The demand has been aided by the ease in documentation and formality of property registration in India. It leads to boost property developer in India. The Indian realty sector would see unchanged interest from N R Is aided by the relaxation in FDI norms in real estate. The government has also helped by permitting banks to advance home loans to N R Is. The report acknowledges that the government had also played a pivotal role in the development of this sector .It had aided the

sector by giving income tax benefits to consumer and benefits to developers. It initiated the rationalization of stamp duty and repealed the Urban Land Ceiling Act in 9 states. A number of state governments are moving towards computerization of land records. Real estate in India has a bright future .The report also pointed out certain issues, which need to be addressed by the government to ensure rapid growth. Some of the issues are absence of large listed companies in these sectors, which has affected fund flow. Foreign still cannot buy or sell undeveloped land, and reassessment of the legal aspect to stamp duty and rent control. At last, changing demographics, low interest rate regime, rising disposable income, and fiscal incentives have provided huge demand for housing. Further nuclearization of Indian families has accelerate the demand for mortgages and for fresh housing thus give rise to more real estate developer in India. Political reforms in relation to real estate: The government is quite rational when it comes to infrastructure and development in the country as it is required to achieve and maintain a growth rate for the economy. The real estate sector being directly related to it, is being given due importance. The government has made suitable amendments in the FDI regulations, taxation structures and various land acts in order to attract more foreign investment into the country. Economic factors: The lower interest rates and ease of credit availability is fueling the demand for real estate in the country. This scenario coupled with the huge potential for consumer credit penetration in India is favoring the real estate sector. Demographic factors: Demographic factors like increasing literacy rates, higher disposable incomes, and increasing urbanization in the country are important factors propelling the demand for real estate in the country. The above factors are going to generate huge demand for residential space, which comprises 80% of the total real estate demand in the country.

PRESENT SCENARIO OF REAL ESTATE IN INDIA

The real sector in India today witnesses a wide spectrum of changes that slowly but surely is expected to make India in to a preferred destination for real estate activity. The real estate market in India is opening up. There are still some barriers to real estate development like unclear titles, tenancy reforms and low property taxes. Two major steps taken by the Government will however be key catalyst in fueling growth in real estate sector in INDIA. Now with reputed builders like DL, ANSAL API etc and international property consultants joining the fray, this image has strengthened and evolves into a professional corporate image. Recent moves to allow 100% Foreign Direct Investment in India. FDI would be in integrated township which would include housing, commercial premises, hotels and resorts, while the urban infrastructure would comprise roads and bridges mass rapid transit system and manufacture of building material. The minimum average that can be developed is 100 acres designed keeping into consideration the local byelaws and regulations. FDI is not allowed in retail sector. Currently, real estate prices have stabilizes to a great deal as a role played by speculation has started declining. There a lot of change being introduce in the Indian real estate sector especially with the cheap labor, pool of people. Other major event is the introduction of real Estate Investment Trust (REIT). Currently mutual fund are not allowed to have direct exposure in real estate but can make debt and equity investment in the company. The Indian version of REIT-REIS (Real estate investment scheme) would enable investment by small investors in the real estate sector and thus earn dividends on the rental income being paid. The fiscal incentives introduce by government introduce 3 years ago have unleashed the market forces. The credit of housing has gone up and interest rates have come down to 8-9% average. With fiscal incentives and factoring inflation the real interest rates on housing loans is very less. This has brought in a sea change in the profile of the home purchaser across the spectrum. The average age of the home buying customer has been drastically reduced. It has been found that young working people in early and mid 20 also buying residential flats. The other major changes witnesses in the real estate industry currently are the reorganization of country status itself. The Government of India has made it mandatory that 3% of the incremental deposits of the banks would be deployed to the

housing industry. Today real estate office market is booming IT AND ITEs segment. With lower operating costs being the driver office property have moved from Central Business Districts to suburbs to Class I cities and this market is continue to expand in Tier II and tier III cities. Real estate sector is still facing the main problem of high stamp duty in Indian states. These range in most Indian cities between 10% to 15% Some states even have double stamp incidence first on land and then on its developments even National Housing and Habitat Policy 1998 recommend stamp duty of 2-3%. Its needed to be reduced by taking the recommendation into consideration which is mentioned in the report otherwise this increasing rates of stamp duty and land cost will give rise to parallel economy which lead to huge loss of government revenue.

INTRODUCTION TO COMPANY

NHI is one of the leading Infrastructure Company in India now. This Company has been established on 13th Jan. 2011. It is consisting of Real Estate Business. Understanding the need of fast changing world NHI has come up with customized residential and commercial complexes and agricultural land, keeping in mind stringent quality policy and international standard infrastructure practices. NHI is one of the sister concerns of Natureway. Natureway mission has been started on 16th Feb, 2002. In these nine glorious years of success & admiration it has formed a milestone in the field of Networking. Not only that it has generated employment opportunities for millions of people & make them self dependent. Inspite of that it has been providing series of professional training programmes all over the country that help a lot of people to trail the path of their dreams & make them true. And above all it has a wonderful track record of growth, customer satisfaction & innovation. The chief business area of Natureway Group includes Networking, Real estate, Infrastructure, Resort, Laser centers, Health clubs and Agricultural Land. In the field of Networking Natureway ha marked its presence in 4 Countries & 22 States in India. It has more than 7000 Outlets & almost 600 Products. NHIVISION To establish a benchmark for developing the new India and to remain at the commanding height in Real Estate Business. NHIMISSION To provide people with the world class Real Estate concepts with Professionalism, Ethics, Quality and Customer Service.

COMPANY'S ACHIEVEMENTS
1. Retail Market & E-commerce 2. Wellness Industry 3. Infrastructure 4. Real Estates "Flats & Duplexes" 5. Resorts 6. Property & Investment

AWARDS WONS BY COMPANY

Mr Neeraj Arora Honable Chief Managing Director of NHIL can win the Rajiv Gandhi National Global Excellance Awards 2012.

THE PROMOTERS
NATURE HEIGHTS INFRA LTD. Nature Heights Infra ltd. A new synonymous to world class residential and commercial projects. The companys credentials reflect in some of the most inspiring creations it has erected till date. people who are now the proud owner of their creations bear a testimony to this very fact. NATURE HEIGHTS aims to become a leading real estate conglomerate by providing impeccable design, quality, meeting customer needs and harnessing skills. NATURE HEIGHTS DEVELOPERS PVT LTD. Nature heights developers pvt ltd. Is a fast growing real estate company establishing in the year 2011 by a team of experienced professionals in the industry ever since 15 years. Wellknown for various prestigious projects.

NATURE HEIGHTS INFRA LTD. :HOW IT WORKS

You have already gone through the introduction and legality of the company. now we will discuss about the work of company. Nature Heights infra ltd. Is that medium through which lacs of people together purchase plot, flat or agriculture land of a particular place? They even resell it and contribute to the profit. This company gives you a chance to become a partner of real estate in which you can purchase or sell plot in easy installments. There remains no chance of losing money and the profit is guaranteed. In this company thousands of people together can convert a useless area in to city, resorts, or colleges, suppose all the people land of hundred acres and the price of land increases if there build a college or a hospital. The working of NHIL can be divided into three parts as described below. 1. Agriculture lands (long term) 2. Residential plots (long term) 3. Flats, plots etc. (short term)

1. Agriculture land:
It includes the purchasing of thousand acre land at reasonable rate. Co. develops this land for farming and after some time investors contribute this land among themselves.NHIL has acquired agriculture land at the border of M.P and Maharashtra and also the agriculture land of Punjab and Rajasthan. Nature Heights launches property plan at different rates time by time. At present, you can purchase land near Nagpur city in Betul district, M.P.by easy installments.

2. Residential Plots:
This property plan is consisting of planning of years start from 4,5,6,7,8 up to 10 years. . In this company thousands of people together can convert a useless area in to city,resorts,or colleges, suppose all the people land of hundred acres and the price of land increases if there build a college or a hospital. Co. also provides maps, with proper govt. approval due to which there remains a guarantee of increasing in price. company provides you residential plots after getting govt. approval. Because there remains the need of govt. permission for plotting or colony more than 5 acres. Company issues you plot along with the facility of supply of water and electricity , roads, parks etc.your first payment of installment after booking the plot is very less. First of all co. issues you a receipt after booking the plot and generates your plot code number in computer. Then co. issue you a bond of plot and allotment letter and also issue agreement to sell along with legal stamp paper. In second year co. receives 25% money of your booked plot as second installment. In this mean time co. has completed its map, evolution etc. therefore issue you the renewal of agreement to sell.co. also provides you the information about plot number, kila number, kharsa number, along with the length and breadth of the plot. Computer priorty wise issues you plot.

3.Short term residential plot, flat, villa, duplex and Commercial property.
In NHIL you can purchase or sell the property with easy installments of 1or 2 years. You can purchase or sell govt. approved plots, flats in the cities like Zirakpur, Chandigarh, Mohali, Abohar, Fazilka etc. This is a short term plan. You get the map, agreement to sell with short

term span of time. According to plan ,you can get registry after completion of payment and also get the possession. You get the dimension information in short term span of time. So this plan is the best for those people who can not do wait.

NATURE HEIGHTS PROJECTS

Understanding the need of fast changing world NHI has come up with customized residential and commercial complexes and agricultural land, keeping in mind stringent quality policy and international standard infrastructure practices. Following are the success glimpses of NHI.

PROPOSED PROJECTS 1.Nature farming

This project all about agricultural land and organic farming. This land is situated between the border of M.P and Maharashtra. It comes under the area of Betul district is 40 km away from Nagpur city. As we now that Nagpur is the largest city of Maharashtra. It is popular tourist destination. It is famous for production of orange. Now Nagpur is international city due to its Mihan project.

2. Nature greens The next is the bliss of solitude of nature away from the crowd in the form of colonization in Anandpur sahib. Nature Greens cover a multiple choice of

residential plots and duplexes in the mid of natural surroundings and away from the crowd of city life.

4. Begumpura Heritage
This project is related to 14th century and it was actually established by Shri Guru Ravidass ji.The following couplet gives the real picture and gives a brief but complete description about the established Begumpura of Guruji. BEGUMPURA SHAHER KO NAAO, DUKH ANDHOH NAHI TAHI THAO Above couplet describes that Guruji had established Begumpura himself which was full of joy and happiness. The Begupura was governed Patshah(Almighty). ThePatshsh had established brotherhood based on natural justice,equality and full freedom.

UPCOMING PROJECTS 1. Proposed Resort, College and colony

2. Proposed Nature Heights Health Sciences

3. Proposed Nature Heights Civil Construction

4. Proposed Hydra Power Plant

5. Proposed Nature Heights Tea gardens

INTRODUCTION TO CONSUMER BUYING BEHAVIOUR

The 1990s have borne witness to dramatic shifts in the marketplace triggered by sharp changes in the lifestyle patterns of the past and present and the radical revolution in the telecommunication technology. Time tested concepts on Brand loyalty and Mass Marketing, are being turned on their heads as they fail to gauge the Behavior of new generation customers. The behavior is characterized by the uniqueness of individual expectations, the preference for multiple options, propensity to abandon Brand loyalty and switch to competition Brands that give higher (perceived) value. The new breed is even willing to import to satisfy specific requirement. It is difficult to classify this generation by conventional Demographic factors and unless their thought process and buying behavior are fully understood, decisions on product designs and packaging, Branding and Distribution channels are likely to be misplaced. With the inevitability of change looming large over the horizon, Indian companies must learn from their western counterparts; not only to identify the sources, timing and direction of the changes likely to affect India, but also the new competencies and perspective that will enable them to respond to these changes, comprehensively and effectively. Companies offering Product or Services will need to understand this new face of the customers. The changing Demographic profile of the population in terms of education, income, size of family and so on, are important by what will be more substantive in days to come will be the Psychographics of customers that is how they feel, think or behave. Markers will have to constantly monitor and understand the underlying Psychographics to map their respective industries are moving and decide what needs to be done, by way of adding value that motivates customers to buy the companys products and influence the future industry structure.

AWARENESS: This means to know about the existence of the product in the market. It is the
first stage of the adoption process. The consumers are exposed to the product innovation. The consumers at this stage are not interested in more information about the product.

PERCEPTION: It is defined as the process by which an individual selects, organizes and

interprets stimuli into a meaningful and coherent of the world. It is how we see the world

around us. Two persons subject to the same stimulus under the same conditions will react differently. A stimulus is any unit of input to any of the senses. The study of perception is largely the study of what we subconsciously add to or subtract from raw sensory to produce our own private picture of the world.

ATTITUDE: In simple dictionary meaning attitude; means a way of thinking is a learned

predisposition to behave in a consistently favorable or unfavorable way with respect to a given object. Attitudes are learned may be because of a previous experience with the product, information acquired from others, and exposure to mass media. Attitudes are not permanent; they do change over a period of time.

CONSUMER BEHAVIOR
The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how consumers think, feel, reason, and select between different alternatives (e.g., brands, products); The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media); The behavior of consumers while shopping or making other marketing decisions; Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome; How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and how marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer. Understanding these issues helps in adapting strategies by taking the consumer into consideration. For example, by understanding that a number of different messages compete for our potential customers attention, one learns that to be effective, advertisements must usually

be repeated extensively. It is also learnt that consumers will sometimes be persuaded more by logical arguments, but at other times will be persuaded more by emotional or symbolic appeals. By understanding the consumer, the company will be able to make a more informed decision as to which strategy to employ. The "official" definition of consumer behavior given in the text is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. Behavior occurs either for the individual, or in the context of a group (e.g., friends influence what kinds of clothes a person wears) or an organization (people on the job make decisions as to which products the firm should use). Consumer behavior involves the use and disposal of products as well as the study of how they are purchased. Product use is often of great interest to the marketer, because this may influence how a product is best positioned or how we can encourage increased consumption. Since many environmental problems result from product disposal (e.g., motor oil being sent into sewage systems to save the recycling fee, or garbage piling up at landfills) this is also an area of interest. Consumer behavior involves services and ideas as well as tangible products. The impact of consumer behavior on society is also of relevance. For example, aggressive marketing of high fat foods, or aggressive marketing of easy credit, may have serious repercussions for the national health and economy. There are four main applications of consumer behavior: The most obvious is for marketing strategyi.e., for making better marketing campaigns. For example, by understanding that consumers are more receptive to food advertising when they are hungry, we learn to schedule snack advertisements late in the afternoon. By understanding that new products are usually initially adopted by a few consumers and only spread later, and

then only gradually, to the rest of the population, we learn that (1) companies that introduce new products must be well financed so that they can stay afloat until their products become a commercial success and (2) it is important to please initial customers, since they will in turn influence many subsequent customers brand choices. As a final benefit, studying consumer behavior should make us better consumers. Common sense suggests, for example, that if you buy a 64 liquid ounce bottle of laundry detergent, you should pay less per ounce than if you bought two 32 ounce bottles. In practice, however, you often pay a size premium by buying the larger quantity. In other words, in this case, knowing this fact will sensitize you to the need to check the unit cost labels to determine if you are really getting a bargain. There are several units in the market that can be analyzed.

SEGMENTATION
Segmentation basically involves dividing consumers into groups such that members of a group (1) are as similar as possible to members of that same group but (2) differ as much as possible from members other segments. This enables us then to "treat" each segment differentlye.g., by: Providing different products (e.g., some consumers like cola taste, while others prefer lime) . Offering different prices (some consumers will take the cheapest product available, while others will pay for desired features). Distributing the products where they are likely to be bought by the targeted segment. In order for a segment structure to be useful: 4. Each segment must have an identityi.e., it must contain members that can be described in some way (e.g., price sensitive) that behave differently from another segment. 5. Each segment must engage in systematic behaviors (e.g., a price sensitive segment should consistently prefer the low price item rather than randomly switching between high and low priced brands).

6. Each segment must offer marketing mix efficiency potentiali.e., it must be profitable to serve. For example, a smaller segment may be profitable if, for example, it is price insensitive or can be targeted efficiently. Some segments are not cost effective. There are three "levels" of segmentation. Levels here refer to the tradeoff between the difficulty of implementing a segmentation scheme and the benefits that result. The first level of segmentation involves personal characteristicse.g., demographics. The trouble with this method of segmentation, however, is that there is often not a good correlation between personal characteristics of consumers and what they want to buy. Psychographics includes a bit more information about the consumer than his or her mere descriptive characteristics. The second level is benefit desiredthat is, segmenting on what someone wants rather than who he or she is. Implementing segmentation on benefit desired is more difficult. The benefit, however, is that one can now make product that matches more closely a particular segments specific desires, and one can promote, price, and distribute it according to the desires of the segment. This method, then, lends itself extremely well to strong product positioningone make a product that offers specific benefits, and we aggressively promote this fact to interested consumers. A drawback, however, is some efficiency is lost in marketing communication. The third level is segmentation based on behavior. Behavior here refers to a persons response (or lack of response) to a given treatment. The rewards are often great, because one can tailor the kind of deal we give a consumer to the minimum concession needed to get that consumer to buy our (as opposed to a competing) product. Direct marketing offers exceptional opportunities for segmentation because marketers can buy lists of consumer names, addresses, and phone-numbers that indicate their specific interests.

THE FAMILY LIFE CYCLE

Individuals and families tend to go through a "life cycle:" The simple life cycle goes from Child/teenager young single young couple full nest widow(er).

A "couple" may either be married or merely involve living together. The breakup of a nonmarital relationship involving cohabitation is similarly considered equivalent to a divorce. Full nest single parent

Single parenthood can result either from divorce or from the death of one parent. Divorce usually entails a significant change in the relative wealth of spouses. In some cases, the noncustodial parent (usually the father) will not pay the required child support, and even if he or she does, that still may not leave the custodial parent and children as well off as they were during the marriage. On the other hand, in some cases, some non-custodial parents will be called on to pay a large part of their income in child support. This is particularly a problem when the non-custodial parent remarries and has additional children in the second (or subsequent marriages).

FAMILY DECISION MAKING

Individual members of families often serve different roles in decisions that ultimately draw on shared family resources. Some individuals are information gatherers/holders, who seek out information about products of relevance. These individuals often have a great deal of power because they may selectively pass on information that favors their chosen

alternatives. Influencers do not ultimately have the power decide between alternatives, but they may make their wishes known by asking for specific products or causing embarrassing situations if their demands are not met. The decision maker(s) have the power to determine issues such as:

Whether to buy; Which product to buy (pick-up or passenger car?);

Which brand to buy; Where to buy it; and When to buy.

One is bargainingone member will give up something in return for someone else. Another strategy is reasoningtrying to get the other person(s) to accept ones view through logical argumentation.

GROUP INFLUENCES
Humans are inherently social animals, and individuals greatly influence each other. A useful framework of analysis of group influence on the individual is the so called reference groupthe term comes about because an individual uses a relevant group as a standard of reference against which oneself is compared. Reference groups come in several different forms. The inspirational reference group refers to those others against whom one would like to compare oneself. For example, many firms use athletes as spokespeople, and these represent what many people would ideally like to be. Associative reference groups include people who more realistically represent the individuals current equals or near-equalse.g., coworkers, neighbors, or members of churches, clubs, and organizations. Pico Underhill, a former anthropologist turned retail consultant and author of the book Why We Buy has performed research suggesting that among many teenagers, the process of clothes buying is a two stage process. In the first stage, the teenagers go on a "reconnaissance" mission with their friends to find out what is available and what is "cool." This is often a lengthy process. In the later phase, parentswho will need to pay for the purchasesare brought. This stage is typically much briefer. Finally, the dissociative reference group includes people that the individual would not like to be like. For example, the store literally named The Gap came about because many younger people wanted to actively dissociate from parents and other older and "uncool" people. The Quality Paperback Book Club specifically suggests in its advertising that its members are "a breed apart" from conventional readers of popular books.

Reference groups come with various degrees of influence. Primary reference groups come with a great deal of influencee.g., members of a fraternity/sorority. Secondary reference groups tend to have somewhat less influencee.g., members of a boating club that one encounter only during week-ends are likely to have their influence limited to consumption during that time period. Another typology divides reference groups into the informational kind (influence is based almost entirely on members knowledge), normative(members influence what is perceived to be "right," "proper," "responsible," or "cool"), or identification. The difference between the latter two categories involves the individuals motivation for compliance. In case of the normative reference group, the individual tends to comply largely for utilitarian reasons dressing according to company standards is likely to help your career, but there is no real motivation to dress that way outside the job. In contrast, people comply with identification groups standards for the sake of belongingfor example, a member of a religious group may wear a symbol even outside the house of worship because the religion is a part of the persons identity.

ATTITUDES
Introduction: Consumer attitudes are a composite of a consumers (1) beliefs about, (2) feelings about, (3) and behavioral intentions toward some object--within the context of marketing, usually a brand or retail store. These components are viewed together since they are highly interdependent and together represent forces that influence how the consumer will react to the object.

Beliefs: The first component is beliefs. A consumer may hold both positive beliefs toward an object (e.g., coffee tastes good) as well as negative beliefs (e.g., coffee is easily spilled and stains papers). In addition, some beliefs may be neutral

Behavioral Intention: The behavioral intention is what the consumer plans to do with respect to the object (e.g., buy or not buy the brand). As with affect, this is sometimes a logical consequence of beliefs (or affect), but may sometimes reflect other circumstances--e.g., although a consumer does not really like a restaurant, he or she will go there because it is a hangout for his or her friends. Attitude-Behavior Consistency: Consumers often do not behave consistently with their attitudes for several reasons:

Ability. He or she may be unable to do so. Although junior high school student likes pick-up trucks and would like to buy one, she may lack a drivers license.

Competing demands for resources. Although the above student would like to buy a pickup truck on her sixteenth birthday, she would rather have a computer, and has money for only one of the two.

Social influence. A student thinks that smoking is really cool, but since his friends think its disgusting, he does not smoke.

Measurement problems. Measuring attitudes is difficult. In many situations, consumers do not consciously set out to enumerate how positively or negatively they feel about mopeds, and when a market researcher asks them about their beliefs about mopeds, how important these beliefs are, and their evaluation of the performance of mopeds with respect to these beliefs, consumers often do not give very reliable answers. Thus, the consumers may act consistently with their true attitudes, which were never uncovered because an erroneous measurement was made.

ATTITUDE CHANGE STRATEGIES

Changing attitudes is generally very difficult, particularly when consumers suspect that the marketer has a self-serving agenda in bringing about this change (e.g., to get the consumer to buy more or to switch brands). Changing affect: One approach is to try to change affect, which may or may not involve getting consumers to change their beliefs. One strategy uses the approach of classical conditioning try

to pair the product with a liked stimulus. For example, we pair a car with a beautiful woman. Alternatively, we can try to get people to like the advertisement and hope that this liking will spill over into the purchase of a product. For example, the Pillsbury Doughboy does not really emphasize the conveyance of much information to the consumer; instead, it attempts to create a warm, fuzzy image. Although Energizer Bunny ads try to get people to believe that their batteries last longer, the main emphasis is on the likeable bunny. Finally, products which are better known, through the mere exposure effect, tend to be better liked-that is, the more a product is advertised and seen in stores, the more it will generally be liked, even if consumers to do not develop any specific beliefs about the product. Changing behavior: People like to believe that their behavior is rational; thus, once they use our products, chances are that they will continue unless someone is able to get them to switch. One way to get people to switch to our brand is to use temporary price discounts and coupons; however, when consumers buy a product on deal, they may justify the purchase based on that deal (i.e., the low price) and may then switch to other brands on deal later. A better way to get people to switch to our brand is to at least temporarily obtain better shelf space so that the product is more convenient. Consumers are less likely to use this availability as a rationale for their purchase and may continue to buy the product even when the product is less conveniently located. (Notice, by the way, that this represents a case of shaping). Changing beliefs: Although attempting to change beliefs is the obvious way to attempt attitude change, particularly when consumers hold unfavorable or inaccurate ones, this is often difficult to achieve because consumers tend to resist. Several approaches to belief change exist: 1. Change currently held beliefs. It is generally very difficult to attempt to change beliefs that people hold, particularly those that are strongly held, even if they are inaccurate. For example, the petroleum industry advertised for a long time that its profits were lower than were commonly believed, and provided extensive factual evidence in its advertising to support this reality. Consumers were suspicious and rejected this information, however.

2. Change the importance of beliefs. Although the sugar manufacturers would undoubtedly like to decrease the importance of healthy teeth, it is usually not feasible to make beliefs less important--consumers are likely to reason, why, then, would you bother bringing them up in the first place? However, it may be possible to strengthen beliefs that favor us--e.g., a vitamin supplement manufacturer may advertise that it is extremely important for women to replace iron lost through menstruation. Most consumers already agree with this, but the belief can be made stronger. 3. Add beliefs. Consumers are less likely to resist the addition of beliefs so long as they do not conflict with existing beliefs. Thus, the beef industry has added beliefs that beef (1) is convenient and (2) can be used to make a number of creative dishes. Vitamin manufacturers attempt to add the belief that stress causes vitamin depletion, which sounds quite plausible to most people. 4. Change ideal. It usually difficult, and very risky, to attempt to change ideals, and only few firms succeed. For example, Hard Candy may have attempted to change the ideal away from traditional beauty toward more unique self expression. One-sided vs. two-sided appeals: Attitude research has shown that consumers often tend to react more favorably to advertisements which either (1) admit something negative about the sponsoring brand (e.g., the Volvo is a clumsy car, but very safe) or (2) admits something positive about a competing brand (e.g., a competing supermarket has slightly lower prices, but offers less service and selection). Two-sided appeals must, contain overriding arguments why the sponsoring brand is ultimately superior--that is, in the above examples, the but part must be emphasized. Appeal Approaches: Several approaches to appeal may be used. The use of affect to induce empathy with advertising characters may increase attraction to a product, but may backfire if consumers believe that peoples feelings are being exploited. Fear appeals appear to work only if (1) an optimal level of fear is evoked--not so much that people tune it out, but enough to scare people into action and (2) a way to avoid the feared stimulus is explicitly indicated--e.g., gingivitis and tooth loss can be avoided by using this mouth wash. Humor appears to be effective in gaining attention, but does not appear to increase persuasion in

practice. In addition, a more favorable attitude toward the advertisement may be created by humorous advertising, which may in turn result in increased sales. Comparative advertising, which is illegal in many countries, often increases sales for the sponsoring brand, but may backfire in certain cultures.

CONSUMER DECISION MAKING

Consumer decision comes about as an attempt to solve consumer behavior problems. A problem refers to a discrepancy between a desired state and an ideal state which is sufficient to arouse and activate a decision process.

CHAPTER-II

RESEARCH METHODOLOGY

RESEARCH METHODOLOGY

Research in common parlance refers to the search of knowledge. One can define research as a scientific and systematic search for pertinent information on a specific topic. It is the voyage of discovering new facts. This inquisitiveness is the mother of all knowledge and the method employed in this quest is known as research. Research is thus an original contribution to the existing stock of knowledge making for its advancement. Research methodology is an attempt to solve the research problem systematically. Research methodology plays an important part in any investigation. Unless the methodology is correct, the analysis and conclusion may not be scientific. The present is based on some objectives and these objectives are listed below:-

OBJECTIVES OF THE STUDY:

The present study is an attempt to analyze the consumer buying Behavior towards Real Estate Industry in Ambala. The study will cover Ambala City and Ambala Cantt and shall revolve around following objectives. To study the property (Residiential) purchasing behavior i.e. of different types of customer in different area. To study the various factors affecting the customer-buying pattern especially in case of Residential properties. To find the expectations & needs of customers from Nature Heights Infra Ltd. To find the opinion of the customers with regard to various schemes available or schemes offered by Nature Heights Infra Ltd. To find out the period in which the customers are more willing to purchase Residential properties. To know the degree of importance of various factors which people consider while purchasing a house.

RESEARCH DESIGN:
A research design is an arrangement of condition for collection and analysis of data in a manner that aims to combine relevance to research purpose with economy in procedure. In fact the research design is the conceptual structure with in which the research is conducted. Research design is needed because it facilitates the smooth sailing of the various research operations. Thereby making research as efficient as possible yielding maximal information with minimal expenditure of efforts, time and money Research design, in fact, has a great bearing on the reliability of the results arrived at and as such constitutes the firm foundation of the entire evidence of the research work. In the other words we can say that research design is advance planning of research. A good research design should be flexible, appropriate, and efficient and so on. It should try to minimize biases and maximize reliability of the data collected and analyzed is considered a good design. The design must give the smallest experimental error and it should yield maximum information. The present study is attempt of descriptive in nature, which defines method to measure and find a method of measuring it along with a clear-cut definition of population. Descriptive Research Design Descriptive research design studies are those studies, which are concerned with describing the character of a group. The researcher makes a plan of the study his research work. That will enable the researcher to save and resources such a plan of study or blue print or study is called a research design.

SCPOE OF THE STUDY:

This study will be beneficial to Nature Heights Infra Ltd. to know about customers buying behavior towards Residential properties in Ambala. The company can come to know various factors affecting the customers properties buying behavior. Company comes to know about customers expectations & need for future properties purchases. The sample size taken for this project is 70 Respondents. Hence, this market study will provide information to Company, and Customers.

DATA COLLECTION:
Data was collected by using primary as well as secondary methods of data collection .

Primary Method
Face to Face interview

Questionnaires Secondary Method Magazines on Property

Internet sites on Property Internet websites of popular property developers of India

SAMPLE SIZE:
Size of samples refers to the numbers of items to be selected from the universe to constitute a sample. This is a major problem before every researcher. The size of sample should neither be excessively large, nor too small. It should be optimum. An optimum sample is one, which fulfills the requirements of efficiency representatives, reliability and flexibility.

a) Sample size b) Sample element c) Sample extent

: - The overall sample size was seventy : - Potential Buyers and Actual Buyers of residential property. : - Ambala City & Ambala Cantt

d) Sampling Procedure:- Descriptive sampling

Sales Manager of under-construction Housing Complexes were also surveyed to know the degree of importance of various factors that people consider while purchasing property, from developers viewpoint.

LIMITATION OF THE STUDY

1. The time duration of this survey was 50 days only. 2. Summer season was main hurdle for this survey. 3. The response from the respondents was fair enough but not up to the mark or good enough. 4. This project was only restricted to the residential properties of NHIL & not commercials & others. 5. The survey area were too far as the city is big enough which caused many transportation. 6. Data was not sufficient and also difficult to gather.

CHAPTER-III

ANALYSIS AND INTERPRETATION

ANALYSIS AND INTERPRETATION Q.1 What is your occupation? Occupation

Businessman Serviceman Professional Others

No. of Respondents
15% 25% 20% 40%

45% 40% 40% 35% 30% 25% 20% 15% 15% 10% 5% 0% Businessman Serviceman Proffesional Others 25% 20%

%age of respondents

Occupation

Interpretation:
The above diagram shows that researcher has covered 15% businessman, 25% serviceman, 20% professionals and 40% others i.e. shopkeepers, farmers etc. in the survey of 70 respondents respectively. Respondents have been categorized by the researcher to make the reality of results from different types of users.

Q.2 Household income per annum:

Below 3 lac 3-5 lac 5-8 lac Above 8 lac

15%

30%

45%

10%

Household income per annum

Below 3 lac 3-5 lac 5-8 lac Above 8 lac

10% 15%

45%

30%

Interpretation:
The above diagram shows that the income level of 15% peoples was below 3 lac, 30 % was 3-5 lac, 45% of peoples was 5-8 lac and 10% of peoples having above 8 lac of income per annum in the survey of 70 respondents respectively.

Q.3 What factor was the first pull to choose this housing complex?
Brand name of developer Attractive and frequent advertisement Location Affordability

15%

5%

35%

45%

50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Brand Name Advertisment Location Affordablity 5% 15% 35% 45%

Factors

Interpretation: Above diagram shows that the main factor to choose property is Afforadablity,45% respondants are choose afforadablity , 35% location,15% brand name and 5% advertisment.

Q.4 Sources of Information for respondents while Property Purchasing. Sources

Hoardings Newspapers Agents/Consultants Relatives/Friends Others

% of Respondents
13% 17% 33% 28% 09%

35% 30%

33% 28%

%age of respondents

25% 20% 15% 10% 5% 0% Hoardings Newspapers Agents Relatives Others 13% 9% 17%

Sources

Interpretation:
Above table shows that 33% of the respondents get their information from Agents /Consultants, where as 28% of the respondents get information from Relatives/ Friends while 17% of respondents get information from Newspapers whereas 13% of respondents get information from Hoardings and 09% of respondents get their information through Other Sources like Local News Channel, Radio, Internet etc. for Purchasing Residential Properties.

Q.5 To what extent do the following factors influence your choice of a housing complex: Factors
Price Range Resale Value Availability of Loan Flexible payment plan Connectivity to public transport Others

Percentage of respondents
35% 3% 17% 25% 15% 5%

40% 35% 35%

%age of respondents

30% 25% 20% 15% 10% 5% 0% Price range Resale value Availablity of loan Flexible Connectivity to payment plan public transport others 3% 5% 17% 25%

15%

Factors

Interpretation:
The above Diagram shows that maximum no. of respondents i.e. 35% consider Price, whereas 25% consider flexibility in payment while 17% consider loan facility whereas 15% consider connectivity to public transport 3% considered resale value and 5% considered other factors like Environment, Water availability and accessibility to the market as important factors for purchasing the residential properties.

Q.6 To what extent do the following in locating factors influence your choice of housing in NHIL. Factors
Peaceful locality Pollution Free Safety-Security Quality of construction Car parking Club membership

Percentage of respondents
65% 70% 75% 85% 15% 2%

90% 80% 75% 65% 70%

85%

%age of respondents

70% 60% 50% 40% 30% 20% 10% 0%

15% 2% Peaceful location Pollution free Security Quality Parking Club membership

Factors

Interpretation:
The above Diagram shows that maximum no. of respondents i.e. 85% consider quality of construction, whereas 75% consider security of their residential while 70% consider pollution free environment whereas 65% consider peaceful location 15% parking facility and only 2% considered club membership for purchasing the residential properties.

Q.7 your previous residence was a: Type of residence

Developer housing complex Independent house Society flat (DDA, SFS etc) Others
80% 70%

No of respondants
15% 75% 5% 5%

75%

%age of respondants

60% 50% 40% 30% 20% 10% 0% Developer housing complex Independent house Society flat Others 15% 5% 5%

Types

Interpretation:
Above diagram shows that 75% respondants was live in their independent houses while 15% respondants live in Develpoer housing complexes And 5% respondants live in society flats and remaning5% respondants like I other houses like on rent ,lease, Servicemans Quarter of Army , Railways etcand they wants to purchase plots after retirement.

Q.8 What were the reasons to shift from previous residence: Reasons
Need for more spaces Need for better location Need for better facilities Need for healthy environment Increase in living status Want for Quality Construction Lack of water and power (in previous locality)

No of respondants
45% 35% 80% 75% 40% 65% 15%

90% 80%

80% 75% 65%

%age of respondants

70% 60% 50% 40% 30% 20% 10% 0% Need for more spaces Need for better location Need for better facilities 45% 35% 40%

15%

Need for Increase in Want for Lack of water healthy living status Quality and power environment Construction

Reasons

Interpretation:
One of the most important thing found out in the survey was that the one of the major reasons to buy the house was the desire of people to have their own house. This reason was not at all important in case of Ambala. This goes on to show that houses in Ambala are very reasonable.

Q.9 The property is: Type

Self owned 75%

Self-owned or Rental No of respondants

Rental 25%

Type of Property

25% Self owned Rental 75%

Interpretation:
The above diagram shows that 75% respondants having their own property and they do not want to purchase any other property while 25% respondants having property on rent and wants to purchase own property for residence.

Q.10 Are you planning to sell current property (move out in case of rental):
Yes 85% No 15%

15% Yes No 85%

Interpretation:
Above diagram shows 85% respondants are want to sell current property because the money they earn from previous property is used for invest in new property and 15% respondants are not to sell their current property because they want to use this property for giving on rent , use it as store etc

Q.11 What type of property are you shifting into: Type of property
Independent house Developer housing complex (NHIL, DLF etc.) Society flat (DDA, SFS etc.) Others
60% 50%

No of respondants
55% 35% 5% 10%

55%

%age of respondants

40% 30% 20% 10% 0% Independent house

35%

10% 5%

Developer housing complex

Society flat

Others

Type of property

Interpretation:
Above diagram shows that maximum no of respondants i.e. 55% wants to shift in independent houses while 35% of respondants want to shift in Developer housing complexes and 5% respondants wants to shift in society flat and remaining 10% want to shift in Service Quaters of diff department in which they service.

Q.12 During which months do you want to purchase property: Months

January-March April -July August-December

No of respondants
35% 13% 52%

January-March 35% 52% April-July August-December

13%

Interpretation:
Above table shows that maximum no. of respondents i.e. 52% would prefer August to Dec as the duration where as 35% respondents would prefer January to March while 13% of respondents prefer August to december as the duration of the year where they would like to purchase residential properties.

Q.13 Which area you will prefer for buying your apartment?(in NHIL) Preference of location
Zirakpur Mohali Panchkula Patiala

No of respondants
15% 65% 45% 15%

70% 65% 60%

%age of respondants

50% 40% 30% 20% 10% 0% Zirakpur mohali 15%

45%

15%

Panchkula

Patiala

Prefer location

Interpretation:
Above diagram shows that 65% respondants choose Mohali 45% Panchkula , 15% Patiala And Rest of 15% respondants choose Zirakpur.

Q.14 How much did you pay or want to pay for the apartment: Payment
10-15 lakh 15-20 lakh 20-25 lakh 25-30 lakh

No of respondants
15% 65% 10% 2%

70% 65% 60%

%age of respondants

50% 40% 30% 20% 10% 0% 10-15 lakh 15-20 lakh 20-25 lakh 25-30 lakh 15% 10% 2%

payment

Interpretation:
Above diagram shows that 65% respondants are willing to pay 15-20 lakh for a flat where as 15% can pay only 10-15lakh for appartment and 10% respondants can pay a huge amount 2025 lakh for a good flat or appartmentt and only 2% was pay 25-30 lakh for a flat.

Q.15 Have you already purchased any apartment? Yes

5%

No
95%

5%

Yes No

95%

Interpretation:
Above diagram shows that 95% respondants are not purchase any appartment in any City while 5% of respondants are purchase appartrment .and in 95% 15% wants to purchase appartment in a City.

Q.16 Are you satisfied with the handed over projects of NHIL? Yes
30%

No
70%

30% Yes No 70%

Interpretation:
Above diagram shows that 59% respondants are not satisfid with the handed over projects and 41% are satisfied with the handed over projects.49% of respondants likes the project and make intrest in that projects .

Q.17 If No what are the reasons ? Reasons

High price Location are too far Property is illegal Others

No of respondants
8% 40% 12% 10%

45% 40% 40%

%age of respondants

35% 30% 25% 20% 15% 10% 5% 0% High price Location Property is illegal Others 8% 12%

10%

Reasons

Interpretation:
Previous question shows that 70% respondants are not satisfied with projects of NHIL, because of location,high price, illegel property etc.

Q.18 How much you are satisfied about the features and amenities of your apartment provided by company NHIL? Satisfaction Level
Very satisfied Satisfied Neutral Dissatisfied Very dissatisfied

Percentage
15% 25% 25% 15% 20%

30% 25% 20% 25% 25% 20%

Percentage

15% 15% 10% 5% 0% Very satisfied Satisfied Netural

15%

Dissatisfied

Very dissatisfied

Satisfaction level

Interpretation:
There are small no of respondants are having NHIL appartments and as above diagram shows 25% of respondants are satisfied with appartment provided by company.there are 25% respondants are nuteral while 15% are very satisfied and only 15% are dissatisfied respectively 20% respondants are very dissatisfied because the projects of NHIL are located in Outer areas of city.

Q19 Who are the close competitors of NHIL ? Name of Competitor

Jaggi Properties Silver city Huda Others

Percentage covers
70% 15% 5% 10%

Competitors
10% 5% Jaggi properties 15% Silver city Huda Others 70%

Interpretation:
Above diagram shows that the jaggi properties is the very close competitor of NHIl it covers 70%, then silver city with 15% and Huda with 5% and 10% others.

CHAPTER-III

FINDINGS, SUGGESTIONS AND CONCLUSION

FINDINGS

During the time of survey, was found that 75% respondents are having own property & 15% respondents are having Developers flats and 5% respondants having other sources such as lease, relatives & friends etc. It was found that maximum no. of respondents were preferred to purchase residential property in Ambala area ,i.e. 55 % and 25% wants to purchase property in Mohali and Chandigarh. It was found that the price & location is major factor which consider by the customer. Here 35% respondents are considering the price, 28% respondents are consider location & 25% considering availability of loan & 5% respondents are consider transportation & market facility. It was found that the quality & facilities are most considerable parameters at the time of selecting residential property In the duration of September to December the most of the respondents were like to purchase the residential property because of the most of the festival are in this duration. It was found that the close competition of NHIL were Silver city, Huda Builders & Jaggi Properties which were mostly known by the respondents.

SUGGESTIONS

NHIL should try to tap other market potentials, such as Mohali, Abohar, Anandpur Sahib, and Nagpur City. NHIL should try to decrease Five star amenities with a view to cut down the property prices and there by attracting the middle class. NHIL should organize annual customer meet to appreciate those customer who have been with them and awarded them. NHIL should take mass media such as television more precisely cable media to target local customers. NHIL should also concentrate more on interior decoration to compete with other competitors. NHIL should also concentrate on CRM activities, such as loyalty to create strong good will and gain new customer.

CONCLUSION

The major external factors which people consider while purchasing the property are Price, Availability of loan and Proximity to workplace.The major In-Locality factors which people consider while purchasing the property are Quality of construction, Availability of water and Pollution-free environmentIt can be seen that NHIL is not most popular brand.Quality is considering lot while purchasing residential property.Adverting and other sales promotion tools have not a great effect on sales of the residential property.

QUESTIONNARE
Personal Information Name..Age. Sex..Job status. Q.1 What is your occupation? Businessman Professional Serviceman Others

If other then please specify_____________________________________________ Q.2 Household income per annum: Below 3 lac 5-8 lac 3-5 lac

above 8 lac

Q.3 What factor was the first pull to choose this housing complex? Brand name of developer Location Attractive and frequent advertisement Affordability

Q.4 Table showing sources of Information for respondents while Property Purchasing. Hoardings Agents Friend Newspapers Relative Others

Q.5 To what extent do the following factors influence your choice of a housing complex: Price Range Resale Value Availability of Loan others

Flexible payment plan Connectivity to public transport

Q.6 To what extent do the following in locating factors influence your choice of housing: Peaceful locality Pollution Free Safety-Security Club membership

Quality of construction Car parking Q.7 your previous residence was a: Developer housing complex Society flat (DDA, SFS etc)

Independent house others

Q.8 What were the reasons to shift from previous residence: Need for more spaces Need for better location Need for better facilities

Need for healthy environment Increase in living status want for Quality Construction Lack of water and power (in previous locality)

Q.9 Are you planning to sell current property (move out in case of rental): Yes No Q.10 The property is: self-owned Rental

Q.11 What type of property are you shifting into: Developer housing complex (NHIL, DLF etc.) Society flat (DDA, SFS etc.) Independent house Others

Q.12 In which months do you want to purchase property: January-March April-August September -December

Q.13Which area you will prefer for buying your apartment in NHIL? Zikrakpur Mohali Panchkula Patiala

Q.14 How much did you pay or want to pay for the apartment? 10- 15 lakh 16-22 lakh 29- 35 lakh 23- 28 lakh

Q.15 Have you already purchased any apartment? Yes No

Q.16 Are you satisfied with the handed over projects of NHIL? Yes No

Q17.If no what are the reasons ? Price are very high Property is Illegal location are too far Others

Q.18 How much you are satisfied about the features and amenities of your apartment provided by the company? Very satisfied Neutral Very dissatisfied Satisfied Dissatisfied

Q19 Who are the close competitors of NHIL ? Jaggi properties Huda Silver city others

BIBLIOGRAPY
BOOKS Research Methodology-C.R Kothari(IInd Edition),page 31

INTERNET http://www.projectfever.com/index.php?main_page=product_info&cPath=2&products _id=23 http://www.indianmirror.com/indian-industries/real-estate.html http://www.scribd.com/doc/33158874/Introduction-to-Consumer-BuyingBehaviour#download http://www.consumerpsychologist.com/intro_Consumer_Behavior.html http://www.scribd.com/doc/58699633/Real-Estate-Ansal-Builders http://www.natureheights.com/about.html