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RESEARCH PROJECT REPORT

On
A study of Consumer Behavior towards Real
Estate Industry in Lucknow City

Towards partial fulfillment of


Master of Business Administration (MBA)

Submitted To:
Ms. Maya Basant Lohani

Submitted by
Mohammad Nadeem Khan

IVth Semester
Roll No- 1160672083

Session 2017-2018

1
.
DECLARATION

This is to declare that I Mohammad Nadeem khan (1160672083) student of MBA, have

personally worked on the project entitled “A study of consumer behaviour in real estate

Industry in Lucknow city” The data mentioned in this report were obtained during genuine

work done and collected by me. The data obtained from other sources have been duly

acknowledged. The result embodied in this project has not been submitted to any other

University or Institute for the award of any degree.

Date: ` Mohammad Nadeem khan

Place: Lucknow Roll No: 1160672083

2
ACKNOWLEDGMENT

A project is never the sole product of a person whose name has appeared on the cover. Even

the best effort may not prove successful without proper guidance. For a best project one

needs proper time, energy, efforts, patience, and knowledge and how to use all these things.

But without any guidance it remains unsuccessful. I have done this project with the best of

my ability and hope that it will serve its purpose. It was really a great learning experience and

I would really express my special and profound gratitude to my guide Ms. Maya Basant

Lohani who not only helped me in the successful completion of this report but also spread

her precious and valuable time in expanding my knowledge base, I take immense pleasure in

thanking her for supporting at all stages of this project. After the completion of this Project I

feel myself as a well aware person about the Research Procedure and the complexities that

can arose during the process. Also I got an insight of Real estate. Finally, I am also grateful to

all those personalities who have helped me directly or indirectly in bringing up this project

report.

I would also like to thank Mr. Sushil Pandey Head of Department for his regular support

and help in the successful completion of my summer training report.

3
PREFACE

I respect to the allotted period, I have formed relationship with the organization as trainee

but informally it is a sacred place for me as it’s my first practical exposure to an organization

to know and get aware to an organizational real practical stressful environment.

Although I am student of M.B.A Lucknow. It is a two year full time degree courses.

So far this training is scheduled for third semester syllabi as a separate topic to be asked in

detail in viva-voice conducted by external So far I have completed 3nd semester examination.

Thus study will provided me a better opportunity to survive in cut throat competition with a

prosperous existence. I have tried my best to gain out of well framed circumstances & with

the help of experienced personnel who helped me out so for become possible to them. As

being a very confidential functioning many things are there which can’t be known but on the

basis of gathered information and certain hints, the project has been formed. It may have

something missing but I have tried to present all things what I have received. Although this

report has been got checked by different personnel but after that if there is some

shortcomings I expect it to be rectified. So the whole study bifurcated in different parts.

Certain observations & suggestions also have been stated which if possible to be reviewed.

4
EXECUTIVE SUMMARY

While working in the organization I was trained as a relationship personnel being engaged

into various jobs such as dealing with clients, answering customer queries through telephonic

conversations and providing them knowledge about new schemes and converting them into

our customers.

As my Research project I was given the topic on “A study of consumer behaviour in real

estate Industry in Lucknow ”. The project work was for this research was conducted in

Lucknow to study the customer satisfaction level.

The research has been conducted to gather information from 100 respondents & a structured

questionnaire will be used to collect the information from the respondents. The data which

was collected from them will be analyzed and classified. It was found that though the Real

estate has the highest market share it needs to improve on its service quality and retail

services.

5
TABLE OF CONTENT

Chapters Page Nos.

1. Introduction

2. Company Profile

3. Objectives of the study

4. Research Methodology

5. Limitations

6. Data Analysis & Interpretations

7. Findings

8. Suggestions/Recommendations

9. Conclusion

10. Bibliography

11. Appendix

6
INTRODUCTION

7
INTRODUCTION

CONSUMER BEHAVIOR

Consumer behavior is the study of when, why, how, where and what people do or do not

buy products. It blends elements from psychology, sociology, social psychology,

anthropology and economics. It attempts to understand the buyer decision making process,

both individually and in groups. It studies characteristics of individual consumers such as

demographics and behavioural variables in an attempt to understand people's wants. It also

tries to assess influences on the consumer from groups such as family, friends, reference

groups, and society in general. Customer behaviour study is based on consumer buying

behaviour, with the customer playing the three distinct roles of user, payer and buyer.

Relationship marketing is an influential asset for customer behaviour analysis as it has a keen

interest in the re-discovery of the true meaning of marketing through the re-affirmation of the

importance of the customer or buyer. A greater importance is also placed on consumer

retention, customer relationship management, personalisation, customisation and one-to-one

marketing. Social functions can be categorized into social choice and welfare functions. Each

method for vote counting is assumed as a social function but if Arrow’s possibility theorem is

used for a social function, social welfare function is achieved. Some specifications of the

social functions are decisiveness, neutrality, anonymity, monotonocity, unanimity,

homogeneity and weak and strong Paretooptimality. No social choice function meets these

requirements in an ordinal scale simultaneously. The most important characteristic of a social

function is identification of the interactive effect of alternatives and creating a logical relation

with the ranks. Marketing provides services in order to satisfy customers. With that in mind,

8
the productive system is considered from its beginning at the production level, to the end of

the cycle, the consumer (Kioumarsi et al., 2009).

Belch and Belch define consumer behavior as 'the process and activities people engage in

when searching for, selecting, purchasing, using, evaluating, and disposing of products and

services so as to satisfy their needs and desires'.

Black box model

ENVIRONMENTAL
BUYER'S BLACK BOX
FACTORS BUYER'S

Marketing Environmental RESPONSE


Buyer Characteristics Decision Process
Stimuli Stimuli

Product

Problem recognition choice


Attitudes
Product Economic Information search Brand choice
Motivation
Price Technical Alternative evaluation Dealer choice
Behaviour s
Place Political Purchase decision Purchase
Personality
Promotion Cultural Post-purchase timing
Lifestyle
behavior Purchase

amount
The black box model shows the interaction of stimuli, consumer characteristics, decision

process and consumer responses. It can be distinguished between interpersonal stimuli

(between people) or intrapersonal stimuli (within people).[2] The black box model is related to

the black box theory of behaviorism, where the focus is not set on the processes inside a

consumer, but the relation between the stimuli and the response of the consumer. The

marketing stimuli are planned and processed by the companies, whereas the environmental

9
stimulus are given by social factors, based on the economical, political and cultural

circumstances of a society. The buyers black box contains the buyer characteristics and the

decision process, which determines the buyers response.

The black box model considers the buyers response as a result of a conscious, rational

decision process, in which it is assumed that the buyer has recognized the problem. However,

in reality many decisions are not made in awareness of a determined problem by the

consumer.

Information search

Once the consumer has recognised a problem, they search for information on products and

services that can solve that problem. Belch and Belch (2007) explain that consumers

undertake both an internal (memory) and an external search.

Sources of information include:

 Personal sources

 Commercial sources

 Public sources

 Personal experience

The relevant internal psychological process that is associated with information search is

behaviour. Behaviour is defined as 'the process by which an individual receives, selects,

organises, and interprets information to create a meaningful picture of the world'

10
The selective behaviour process

Stage Description

- Selective exposure consumers select which promotional messages they will expose

themselves to.

- Selective attention consumers select which promotional messages they will pay

attention to

- Selective comprehension consumer interpret messages in line with their beliefs,

attitudes, motives and experiences

- Selective retention consumers remember messages that are more meaningful or

important to them

The implications of this process help develop an effective promotional strategy, and select

which sources of information are more effective for the brand.

11
INFORMATION EVALUATION

At this time the consumer compares the brands and products that are in their evoked set. How

can the marketing organization increase the likelihood that their brand is part of the

consumer's evoked (consideration) set? Consumers evaluate alternatives in terms of the

functional and psychological benefits that they offer. The marketing organization needs to

understand what benefits consumers are seeking and therefore which attributes are most

important in terms of making a decision.

Purchase decision

Once the alternatives have been evaluated, the consumer is ready to make a purchase

decision. Sometimes purchase intention does not result in an actual purchase. The marketing

organization must facilitate the consumer to act on their purchase intention. The provision of

credit or payment terms may encourage purchase, or a sales promotion such as the

opportunity to receive a premium or enter a competition may provide an incentive to buy

now. The relevant internal psychological process that is associated with purchase decision is

integration.

Postpurchase evaluation

The EKB model was further developed by Rice (1993) which suggested there should be a

feedback loop, Foxall (2005) further suggests the importance of the post purchase evaluation

and that the post purchase evaluation is key due to its influences on future purchase patterns.

12
BUYING

Buying in has several meanings:

 In the securities market it refers to a process by which the buyer of securities, whose

seller fails to deliver the securities contracted for, can 'buy in' the securities from a

third party with the defaulting seller to make good.

 In poker it signifies the up-front payment required to participate in a given game or

tournament.

 In management and decision making, buy-in (as a verb or noun) signifies the

commitment of interested or affected parties to a decision (often called stakeholders)

to 'buy in' to the decision, that is, to agree to give it support, often by having been

involved in its formulation.

Securities market use

On the English stock exchange, a transaction by which, if a member has sold securities which

he fails to deliver on settling day, or any of the succeeding ten days following the settlement,

the buyer may give instructions to a stock exchange official to "buy in" the stock required.

The official announces the quantity of stock, and the purpose for which he requires it, and

whoever sells the stock must be prepared to deliver it immediately. The original seller has to

pay the difference between the two prices, if the latter is higher than the original contract

price. A similar practice, termed "selling out," prevails when a purchaser fails to take up his

securities.

The practise is not limited to the UK Stock Exchange but is found in various forms on most

stock exchanges. The rules vary according to the local regulations, and the party which fails

to deliver is usually penalised and may even be suspended..

13
Alternatives to short selling available on the SGX :

1. Borrow the share and proceed to sell a stock.

2. Buy a put warrant

3. Short a CFD.

4. Sell a Single Stock Future (SSF) in the futures market.

Poker and gaming

"Buying in" regarding poker tournaments is the process of entering a poker tournament that

requires an up-front payment. The size of the payment, otherwise known as the "Buy In",

determines the total winning prize pool and also contains a fee, otherwise known as the rake,

that is paid to the house.

For example a 50 person capacity tournament could cost $55 to enter per player. In poker

terms this could equate to $50+5, meaning $50 goes to the prize pool to pay the eventual

winners and $5 (10%) goes to the house for hosting the tournament. In this example the prize

pool would contain $2500 and the house would take a total of $250 (also 10%).

Management

The process of lobbying for support for part of the influential group before suggesting an

idea, arguing a case or submitting a report.

In the sports world, buying in is a significant aspect of players/participants accepting

goals and direction from a coach, leader or program. "Buying in" becomes synonymous

with commitment and dedication. In the Spring of 2007, two film makers, Tim

Breitbach(Dopamine) and Ralph Barhydt, started producing a film entitled, "Buying In"

that explores the social issues of buying in based on the success of the boys' and girls'

14
high school basketball teams at The Branson School, in Ross, California, who each won

the State Championship in their division in 2007.

15
MARKET AWARENESS

Market awareness, formerly known as tape reading, is an understanding of the market

nuances and order flow that helps us with the decision making process. At tasty trade, we

use market awareness to help us broadly assess the market, while providing a sense of

what to trade and why.

Market awareness begins with an overall macro view of the market with stock index futures.

This means understanding the relative strength and weakness of the /ES, /NQ, /TF,

and /YM. We then may look to the bond, commodity and currency futures to gain an

overall view of the current state of the market. In addition, the VIX or /VX futures will

help gauge the fear in the marketplace. Outside of futures, we believe that an

understanding of liquidity, IV rank, binary events, and price movement are important

metrics to look for in individual stock.

market awareness is the extent to which a brand is recognized by potential customers, and is

correctly associated with a particular product. Expressed usually as a percentage of the target

market, brand awareness is the primary goal ofadvertising in the early months or years of

a product's introduction.

Market awareness is related to the functions of brand identities in consumers’ memory and

can be reflected by how well the consumers can identify the brand under various

conditions. market awareness includes brand recognition and brand recall performance.

Brand recognition refers to the ability of the consumers to correctly differentiate the brand

they previously have been exposed to. This does not necessarily require that the consumers

identify the brand name. Instead, it often means that consumers can respond to a certain

16
brand after viewing its visual packaging images. Brand recall refers to the ability of the

consumers to correctly generate and retrieve the brand in their memory.

A brand name that is well known to the great majority of households is also called

a household name.

Importance

"Awareness, attitudes, and usage (AAU) metrics relate closely to what has been called the

Hierarchy of Effects, an assumption that customers progress through sequential stages from

lack of awareness, through initial purchase of a product, to brand loyalty." In total, these

AAU metrics allow companies to track trends in Customer knowledge and attitudes.

Although the hierarchy of effects is considered as a one-way linear relationship, these three

stages are not “clear-cut”. The causal link might be reversed. The usage could cause the

awareness while the attitudes can also influence the awareness. For example, one owned a

Dell wireless mouse and had excellent using experience. Such experience might determine

the one’s favorite brand attitude toward Dell.

market awareness plays a major role in a consumer’s buying decision-making process.

During this process, the category need is stimulated first. For example, you need to do food

shopping. You will only write down the food categories, like chocolate, instead of brand

names on your list. You will scan the packages of chocolate on the shelf and recognize

different brands. Such recognition might be based on the knowledge of an acquaintance or

friend having used the product in the past or constant advertisement. In this situation, brand

awareness does not require brand recall because brand awareness may occur along with

brand recognition. However, in other situations, brand recall is required. For instance, you

are in a hurry and want to grab a bite at a fast-food restaurant. It is not possible for you to

17
drive around and make a decision. You need to retrieve different fast-food brands in your

memory, choose one and go there directly. In this situation, constant advertisement is

important in consumers’ memory retrieval because the consumers are willing to go to the first

brand that can be recalled.

The eventual goal of most businesses is to make profits and increase sales. Businesses intend

to increase their consumer pool and encourage repeat purchases. Apple is a brilliant example

of how there is a very high recognition of the brand logo and high anticipation of a new

product being released by the company. An iPod is the first thing that pops into our minds

when we think of purchasing an mp3 player. iPod is used as a replaceable noun to describe an

mp3 player. Finally, high brand awareness about a product suggests that the brand is easily

recognizable and accepted by the market in a way that the brand is differentiated from similar

products and other competitors. Brand building also helps in improving brand loyalty.

Measures of market Awareness

Aided Awareness- This type of awareness is generated in a consumer. When asked about a

product category, if the consumer is aided with a list of company names and he recognizes

the company from the given set it is categorized as aided awareness.

Spontaneous awareness --- When asked about a product category, the consumers are asked to

list brands they know without any cues.

Top of the mind Awareness- When the name of the company is automatically recollected

because the consumer very promptly associates the brand with the product category, it is

called a top of the mind awareness of the product. It’s the first brand name listed by the

consumers when asked to name brands they know without any cues.

18
Methodologies

Mokhira discussion in industry and practice about the meaning and value of various brand

awareness metrics. Recently, anempirical study appeared to put this debate to rest by

suggesting that all awareness metrics were systematically related, simply reflecting their

difficulty, in the same way that certain questions are more difficult in academic exams.

Channels of market awareness

There are many ways to generate brand awareness in the consumers. Listed below are four

such channels

Advertising is the activity or profession of producing information for promoting the sale of

commercial products or services.[6] Advertising is used through various media to generate

brand awareness within consumers. They can be aired as radio ads, television commercials,

internet etc.

Guerrilla Marketing creative campaigns allow every small firm to compete with bigger

firms by carving out narrow but profitable niches. Nowadays, big firms also use guerrilla

marketing to catch consumers’ attention at low cost. These tactics include

(1) extreme specialization,

(2) aiming every effort at favourably impressing the customers,

(3) providing service that goes beyond the customers' expectations,

(4) fast response time,

(5) quick turnaround of jobs, and

19
(6) working hours that match the customer's requirements. The term 'Guerrilla Marketing' is a

registered trademark of author Jay Levinson who popularized it through his several

'Guerrilla' books.

It is an out of the ordinary way of marketing a product. Low-cost channels can be utilised to

generate a high level of interest in the product and create brand awareness. Utilisation of

personal contacts is the most popular way of guerrilla marketing. Product Plabanking is an

advertising technique used by companies to subtly promote their products through a non-

traditional advertising technique, usually through appearances in film, television, or other

media.

A formal agreement between the product manufacturer and a media company can be

generated through which the media company also receives an economic benefit, usually in

the form of a fee. The media company in return will showcase the product through any of the

various means they have available to make the brand stand out. Some people, however,

consider product plabanking to be deceptive and unethical.

For example, Coca-Cola could pay a given fee to have the title character drinking a Coke,

instead of a Pepsi beverage, or Toyota might pay to have one of the characters drive their

newest automobile. Through product plabanking, companies hope that moviegoers will take

note of the products used by the characters, and therefore think more strongly about using the

products themselves. Social Media is the most contemporary and cost-effective way of

creating a brand awareness with an online audience. Many companies use social media like

Facebook, YouTube, blogs etc.

20
Challenges

Maintaining market awareness

Maintaining market awareness is a very important aspect in marketing a company. It is

imperative and very helpful to analyze the response your audience has towards the change in

packaging, advertising, products and messages sent across through various means. Working

towards creating an image in the minds of the consumers is not the last thing a company

should aim to do. Inviting consumer feedback and maintaining a constant presence in the

market is equally essential. Availability of the product to the consumer is one such way of

doing this. The consumer should not have to come looking for you when he is in need of

making a second purchase of the product, dealerships and outlets at convenient places should

make the consumer think of the brand as the most convenient and best solution to their needs

of fulfillments.

While brand awareness scores tend to be quite stable at aggregate level, individual consumers

show considerable propensity to change their responses to aided recall based brand

awareness measures. For unaided recall based brand awareness measures, consumers’ brand

awareness remain relatively stable. For top of mind recall measures, consumers give the

same answer in two interviews typically only 50% the time. Similar low levels of consistency

in response have been recorded for other cues to elicit brand name responses.

21
CONSUMER AWARENESS

Consumer awareness is the study of when, why, how, where and what people do or do not

buy products. It blends elements from psychology, sociology, social psychology,

anthropology and economics. It attempts to understand the buyer decision making process,

both individually and in groups. It studies characteristics of individual consumers such as

demographics and behavioural variables in an attempt to understand people's wants. It also

tries to assess influences on the consumer from groups such as family, friends, reference

groups, and society in general. Customer behaviour study is based on consumer buying

behaviour, with the customer playing the three distinct roles of user, payer and buyer.

Relationship marketing is an influential asset for customer behaviour analysis as it has a keen

interest in the re-discovery of the true meaning of marketing through the re-affirmation of the

importance of the customer or buyer. A greater importance is also placed on consumer

retention, customer relationship management, personalisation, customisation and one-to-one

marketing. Social functions can be categorized into social choice and welfare functions. Each

method for vote counting is assumed as a social function but if Arrow’s possibility theorem is

used for a social function, social welfare function is achieved. Some specifications of the

social functions are decisiveness, neutrality, anonymity, monotonocity, unanimity,

homogeneity and weak and strong Paretooptimality. No social choice function meets these

requirements in an ordinal scale simultaneously. The most important characteristic of a social

function is identification of the interactive effect of alternatives and creating a logical relation

with the ranks. Marketing provides services in order to satisfy customers. With that in mind,

the productive system is considered from its beginning at the production level, to the end of

the cycle, the consumer (Kioumarsi et al., 2009).

22
Belch and Belch define consumer awareness as 'the process and activities people engage in

when searching for, selecting, purchasing, using, evaluating, and disposing of products and

services so as to satisfy their needs and desires'.

Black box model

ENVIRONMENTAL
BUYER'S BLACK BOX
FACTORS BUYER'S

Marketing Environmental Buyer RESPONSE


Decision Process
Stimuli Stimuli Characteristics

Product

Problem recognition choice


Attitudes
Product Economic Information search Brand choice
Motivation
Price Technical Alternative evaluation Dealer choice
Perceptions
Place Political Purchase decision Purchase
Personality
Promotion Cultural Post-purchase timing
Lifestyle
awareness Purchase

amount
The black box model shows the interaction of stimuli, consumer characteristics, decision

process and consumer responses.[1] It can be distinguished between interpersonal stimuli

(between people) or intrapersonal stimuli (within people). The black box model is related to

the black box theory of awareness ism, where the focus is not set on the processes inside a

consumer, but the relation between the stimuli and the response of the consumer. The

marketing stimuli are planned and processed by the companies, whereas the environmental

stimulus are given by social factors, based on the economical, political and cultural

23
circumstances of a society. The buyers black box contains the buyer characteristics and the

decision process, which determines the buyers response.

The black box model considers the buyers response as a result of a conscious, rational

decision process, in which it is assumed that the buyer has recognized the problem. However,

in reality many decisions are not made in awareness of a determined problem by the

consumer.

Information search

Once the consumer has recognised a problem, they search for information on products and

services that can solve that problem. Belch and Belch (2007) explain that consumers

undertake both an internal (memory) and an external search.

Sources of information include:

 Personal sources

 Commercial sources

 Public sources

 Personal experience

The relevant internal psychological process that is associated with information search is

perception. Perception is defined as 'the process by which an individual receives, selects,

organises, and interprets information to create a meaningful picture of the world'

24
The selective perception process

Stage Description

- Selective exposure consumers select which promotional messages they will expose

themselves to.

- Selective attention consumers select which promotional messages they will pay

attention to

- Selective comprehension consumer interpret messages in line with their beliefs,

attitudes, motives and experiences

- Selective retention consumers remember messages that are more meaningful or

important to them

The implications of this process help develop an effective promotional strategy, and select

which sources of information are more effective for the brand.

25
INFORMATION EVALUATION

At this time the consumer compares the brands and products that are in their evoked set. How

can the marketing organization increase the likelihood that their brand is part of the

consumer's evoked (consideration) set? Consumers evaluate alternatives in terms of the

functional and psychological benefits that they offer. The marketing organization needs to

understand what benefits consumers are seeking and therefore which attributes are most

important in terms of making a decision.

Purchase decision

Once the alternatives have been evaluated, the consumer is ready to make a purchase

decision. Sometimes purchase intention does not result in an actual purchase. The marketing

organization must facilitate the consumer to act on their purchase intention. The provision of

credit or payment terms may encourage purchase, or a sales promotion such as the

opportunity to receive a premium or enter a competition may provide an incentive to buy

now. The relevant internal psychological process that is associated with purchase decision is

integration.

Postpurchase evaluation

The EKB model was further developed by Rice (1993) which suggested there should be a

feedback loop, Foxall (2005) further suggests the importance of the post purchase evaluation

and that the post purchase evaluation is key due to its influences on future purchase patterns.

26
BUYING

Buying in has several meanings:

 In the securities market it refers to a process by which the buyer of securities, whose

seller fails to deliver the securities contracted for, can 'buy in' the securities from a

third party with the defaulting seller to make good.

 In poker it signifies the up-front payment required to participate in a given game or

tournament.

 In management and decision making, buy-in (as a verb or noun) signifies the

commitment of interested or affected parties to a decision (often called stakeholders)

to 'buy in' to the decision, that is, to agree to give it support, often by having been

involved in its formulation.

Securities market use

On the English stock exchange, a transaction by which, if a member has sold securities which

he fails to deliver on settling day, or any of the succeeding ten days following the settlement,

the buyer may give instructions to a stock exchange official to "buy in" the stock required.

The official announces the quantity of stock, and the purpose for which he requires it, and

whoever sells the stock must be prepared to deliver it immediately. The original seller has to

pay the difference between the two prices, if the latter is higher than the original contract

price. A similar practice, termed "selling out," prevails when a purchaser fails to take up his

securities.

The practise is not limited to the UK Stock Exchange but is found in various forms on most

stock exchanges. The rules vary according to the local regulations, and the party which fails

to deliver is usually penalised and may even be suspended..

27
Alternatives to short selling available on the SGX :

5. Borrow the share and proceed to sell a stock.

6. Buy a put warrant

7. Short a CFD.

8. Sell a Single Stock Future (SSF) in the futures market.

Poker and gaming

"Buying in" regarding poker tournaments is the process of entering a poker tournament that

requires an up-front payment. The size of the payment, otherwise known as the "Buy In",

determines the total winning prize pool and also contains a fee, otherwise known as the rake,

that is paid to the house.

For example a 50 person capacity tournament could cost $55 to enter per player. In poker

terms this could equate to $50+5, meaning $50 goes to the prize pool to pay the eventual

winners and $5 (10%) goes to the house for hosting the tournament. In this example the prize

pool would contain $2500 and the house would take a total of $250 (also 10%).

Management

The process of lobbying for support for part of the influential group before suggesting an

idea, arguing a case or submitting a report.

In the sports world, buying in is a significant aspect of players/participants accepting goals

and direction from a coach, leader or program. "Buying in" becomes synonymous with

commitment and dedication. In the Spring of 2007, two film makers, Tim

Breitbach(Dopamine) and Ralph Barhydt, started producing a film entitled, "Buying In" that

explores the social issues of buying in based on the success of the boys' and girls' high school

28
basketball teams at The Branson School, in Ross, California, who each won the State

Championship in their division in 2007.

29
REVIEW OF LITERATURE

30
Consumer behaviour

Cognitive theories of behaviour assume there is a poverty of stimulus. This (with reference to

behaviour ) is the claim that sensations are, by themselves, unable to provide a unique

description of the world. Sensations require 'enriching', which is the role of the mental model.

A different type of theory is the perceptual ecology approach of James J. Gibson. Gibson

rejected the assumption of a poverty of stimulus by rejecting the notion that behaviour is

based upon sensations – instead, he investigated what information is actually presented to the

perceptual systems. His theory "assumes the existence of stable, unbounded, and permanent

stimulus-information in the ambient optic array. And it supposes that the visual system can

explore and detect this information. The theory is information-based, not sensation-

based." He and the psychologists who work within this paradigm detailed how the world

could be specified to a mobile, exploring organism via the lawful projection of information

about the world into energy arrays. Specification is a 1:1 mapping of some aspect of the

world into a perceptual array; given such a mapping, no enrichment is required and

behaviour is direct behaviour .

Behaviour -in-action

An ecological understanding of behaviour derived from Gibson's early work is that of

"behaviour -in-action", the notion that behaviour is a requisite property of animate action;

that without behaviour , action would be unguided, and without action, behaviour would

serve no purpose. Animate actions require both behaviour and motion, and behaviour and

movement can be described as "two sides of the same coin, the coin is action". Gibson works

from the assumption that singular entities, which he calls "invariants", already exist in the

real world and that all that the behaviour process does is to home in upon them. A view

31
known as constructivism (held by such philosophers as Ernst von Glasersfeld) regards the

continual adjustment of behaviour and action to the external input as precisely what

constitutes the "entity", which is therefore far from being invariant.

Glasersfeld considers an "invariant" as a target to be homed in upon, and a pragmatic

necessity to allow an initial measure of understanding to be established prior to the updating

that a statement aims to achieve. The invariant does not and need not represent an actuality,

and Glasersfeld describes it as extremely unlikely that what is desired or feared by an

organism will never suffer change as time goes on. This social constructionist theory thus

allows for a needful evolutionary adjustment.

A mathematical theory of behaviour -in-action has been devised and investigated in many

forms of controlled movement, and has been described in many different species of organism

using the General Tau Theory. According to this theory, tau information, or time-to-goal

information is the fundamental 'percept' in behaviour .

Evolutionary psychology (EP) and behaviour

Many philosophers, such as Jerry Fodor, write that the purpose of behaviour is knowledge,

but evolutionary psychologists hold that its primary purpose is to guide action. For example,

they say, depth behaviour seems to have evolved not to help us know the distances to other

objects but rather to help us move around in space.[44] Evolutionary psychologists say that

animals from fiddler crabs to humans use eyesight for collision avoidance, suggesting that

vision is basically for directing action, not providing knowledge.

Building and maintaining sense organs is metabolically expensive, so these organs evolve

only when they improve an organism's fitness. More than half the brain is devoted to

processing sensory information, and the brain itself consumes roughly one-fourth of one's

32
metabolic resources, so the senses must provide exceptional benefits to fitness. Behaviour

accurately mirrors the world; animals get useful, accurate information through their senses.

Scientists who study behaviour and sensation have long understood the human senses as

adaptations. Depth behaviour consists of processing over half a dozen visual cues, each of

which is based on a regularity of the physical world. Vision evolved to respond to the narrow

range of electromagnetic energy that is plentiful and that does not pass through

objects. Sound waves provide useful information about the sources of and distances to

objects, with larger animals making and hearing lower-frequency sounds and smaller animals

making and hearing higher-frequency sounds.[44]Taste and smell respond to chemicals in the

environment that were significant for fitness in the environment of evolutionary

adaptedness. The sense of touch is actually many senses, including pressure, heat, cold,

tickle, and pain. Pain, while unpleasant, is adaptive. An important adaptation for senses is

range shifting, by which the organism becomes temporarily more or less sensitive to

sensation. For example, one's eyes automatically adjust to dim or bright ambient light.

Sensory abilities of different organisms often coevolve, as is the case with the hearing of

echolocating bats and that of the moths that have evolved to respond to the sounds that the

bats make.

Evolutionary psychologists claim that behaviour demonstrates the principle of modularity,

with specialized mechanisms handling particular behaviour tasks. [44] For example, people

with damage to a particular part of the brain suffer from the specific defect of not being able

to recognize faces (prospagnosia). EP suggests that this indicates a so-called face-reading

module.

33
Theories of visual behaviour

 Empirical theories of behaviour

 Enactivism

 Anne Treisman's feature integration theory

 Interactive activation and competition

 Irving Biederman's recognition by components theory

Physiology

Sensory system

A sensory system is a part of the nervous system responsible for

processing sensory information. A sensory system consists of sensory receptors, neural

pathways, and parts of the brain involved in sensory behaviour . Commonly recognized

sensory systems are those for vision, hearing, somatic

sensation (touch), taste and olfaction (smell). It has been suggested that the immune system is

an overlooked sensory modality. In short, senses are transducers from the physical world to

the realm of the mind.

The receptive field is the specific part of the world to which a receptor organ and receptor

cells respond. For instance, the part of the world an eye can see, is its receptive field; the

light that each rod or cone can see, is its receptive field. Receptive fields have been identified

for the visual system, auditory system and somatosensory system, so far.

Consumer behaviour is a field of study that focuses on consumer activities. This has been a

topic of vast interest for the marketers all over the world. The marketing managers always

study these consumer behavioural changes and make continuous changes in products and

34
services. According to Blackwell et al. (2006), consumer behaviour is defined as the

activities that people undertake when obtaining, consuming and disposing of products and

services that they expect will satisfy their personal needs. Blackwell et al. (2006) mentions

that a customer follows a sequence before buying a product or service.

consumer behaviour has become a factor that has a direct impact on the overall performance

of the businesses (Kotler and Keller, 2012)

consumer behaviour has become crucial especially due to fierce competition in retail industry

in the worldwide (Lancaster et al, 2002) consumer behaviour addressing the works of

marketers. Moreover, consumer decision making process, in particular, five stages of

consumer decision making process will be discussed in detail.

Customer Satisfaction

Satisfaction has been broadly defined by Vavra, T.G. (1997) as a satisfactory post-

purchase experience with a product or service given an existing purchase expectation.

Howard and Sheth (1969)

According to Westbrook and Reilly (1983) define satisfaction as, “The buyer’s cognitive

state of being adequately or inadequately rewarded for the sacrifices he has undergone”

(p.145). 6, customer satisfaction is “an emotional response to the experiences provided

by, associated with particular Customer Satisfaction Satisfaction has been broadly

defined by Vavra, T.G. (1997) as a satisfactory post-purchase experience with a product

or service given an existing purchase expectation. Howard and Sheth (1969)

According to Westbrook and Reilly (1983) define satisfaction as, “The buyer’s cognitive

state of being adequately or inadequately rewarded for the sacrifices he has undergone”

(p.145). 6, customer satisfaction is “an emotional response to the experiences provided

by, associated with particular purchase expectations with perceptions of performance

35
during and after the consumption experience.13 Oliver (1981)14 defines customer

satisfaction as a customer’s emotional response to the use of a product or service. Anton

(1996)15 offers more elaboration: “customer satisfaction as a state of mind in which the

customer’s needs, wants and expectations throughout the product or service life have

been met or exceeded, resulting in subsequent repurchase and loyalty”. Merchant

Account Glossary points out that, “Customer satisfaction is an ambiguous and abstract

concept and the actual manifestation of the state of satisfaction will very from person to

person and produce/service to produce/service.....”16Schiffman and Kanuk (2004) 17

Woodruff and Gardian (1996)

defines customer satisfaction as “The individual’s perception of the performance of the

product or service in relation to his or her expectations”.

According to Hung (1977), “…. satisfaction is a kind of stepping away from an

experience and evaluating it … One could have a pleasurable experience that caused

dissatisfaction because even though it was pleasurable, it wasn’t as pleasurable as it was

supposed to be. So satisfaction / dissatisfaction isn’t an emotion, it’s the evaluation of the

emotion”. define “Satisfaction, then, is the evaluation or feeling that results from the

disconfirmation process. It is not the comparison itself (i.e., the disconfirmation process),

but it is the customer’s response to the comparison. Satisfaction has an emotional

component.”

36
REAL ESTATE

37
REAL ESTATE
Real estate

Real estate is "property consisting of land and the buildings on it, along with its natural

resources such as crops, minerals or water; immovable property of this nature; an interest

vested in this (also) an item of real property, (more generally) buildings or housing in

general. Also: the business of real estate; the profession of buying, selling, or renting land,

buildings or housing." It is alegal term used in jurisdictions whose legal system is derived

from English common law, such as India, the United Kingdom, United States, Canada,

Pakistan, Australia, and New Zealand.

Residential real estate

Residential real estate may contain either a single family or multifamily structure that is

available for occupation or for non-business purposes.

Residences can be classified by, if, and how they are connected to neighbouring residences

and land. Different types of housing tenure can be used for the same physical type. For

example, connected residents might be owned by a single entity and leased out, or owned

separately with an agreement covering the relationship between units and common areas and

concerns.

Single-family detached house inEssex, Connecticut, USA.

38
Major categories

 Attached / multi-unit dwellings

 Apartment (American English) or Flat (British English) – An individual unit in a

multi-unit building. The boundaries of the apartment are generally defined by a

perimeter of locked or lockable doors. Often seen in multi-story apartment buildings.

 Multi-family house – Often seen in multi-story detached buildings, where each floor

is a separate apartment or unit.

 Terraced house (a. k. a. townhouse or rowhouse) – A number of single or multi-unit

buildings in a continuous row with shared walls and no intervening space.

 Condominium (American English) – Building or complex, similar to apartments,

owned by individuals. Common grounds and common areas within the complex are

owned and shared jointly. In North America, there are townhouse orrowhouse style

condominiums as well. The British equivalent is a block of flats.

 Cooperative (a. k. a. co-op) – A type of multiple ownership in which the residents of a

multi-unit housing complex own shares in the cooperative corporation that owns the

property, giving each resident the right to occupy a specific apartment or unit.

 Semi-detached dwellings

 Duplex – Two units with one shared wall.

 Detached dwellings

 Detached house or single-family detached house

 Portable dwellings

 Mobile homes or residential caravans – Potentially a full-time residence that can be

(might not in practice be) movable on wheels.

39
 Houseboats – A floating home

 Tents – Usually very temporary, with roof and walls consisting only of fabric-like

material.

The size of an apartment or house can be described in square feet or meters. In the United

States, this includes the area of "living space", excluding the garage and other non-living

spaces. The "square meters" figure of a house in Europe may report the total area of the walls

enclosing the home, thus including any attached garage and non-living spaces, which makes

it important to inquire what kind of surface definition has been used.

It can be described more roughly by the number of rooms. A studio apartment has a single

bedroom with no living room (possibly a separate kitchen). A one-bedroom apartment has a

living or dining room separate from the bedroom. Two bedroom, three bedroom, and larger

units are common. (A bedroom is a separate room intended for sleeping. It commonly

contains a bed and, in newer dwelling units, a built-in closet for clothes storage.)

Other categories

 Chawls

 Villas

 Havelis

The size is measured in Gaz (square yards), Quila, Marla, Beegha, and acre.

See List of house types for a complete listing of housing types and layouts, real estate

trends for shifts in the market and house or home for more general information.

40
Sales and marketing

It is common practice for an intermediary to provide real estate owners with dedicated sales

and marketing support in exchange for commission. In North America, this intermediary is

referred to as a real estate broker (or realtor), whilst in the United Kingdom, the intermediary

would be referred to as an estate agent.

41
COMPANY PROFILE

42
COMPANY PROFILE

Established in 1985, the Shalimar Group is a diversified Business House headquartered in

Lucknow, India. The Group’s footprints span sectors such as Real Estate, Property

Management, various Allied Services, Civil Construction, Imports & Exports and Glass

Processing. An evergrowing and expanding business portfolio is the group's hallmark. which

is steadily establishing itself as a leading Business Conglomerate.

Built on the cornerstones of Knowledge, Efficient Management & Transparency; Shalimar is

well poised to contribute to and utilize the growth & development in each of these sectors.

The Group has already developed nearly 6 million sq. ft. of residential & commercial

property and is set to develop an additional 15 million sq. ft. area spread in major cities of UP

and Delhi+NCR in the next couple of years.

The Group envisions to enrich lives and raise the standard of living of society at large.

The Group’s mission is to provide world class products & services in each of its areas of

operations through the tenets of Knowledge & Expertise.

At the Shalimar Group, we have a strong and dedicated team of over 750 personnel who are

our the partners in success. It is because of their dedication that we have developed a large

base of satisfied customers, who are indeed priceless.

43
The Shalimar Brand Name

Shalimar Corp Limited has constructed very elegantly and strikingly; a large number of

luxury apartments, residential enclaves, modern offices, showrooms, state-of-the-art software

facilities, and multi-storey complexes, by the name of "Shalimar ", since the inception of it in

the year 1985.

Service Excellence

Achieving the ultimate satisfaction of our customers & clients through the beautiful and

magnificent constructions of elegant commercial, residential, and retail spaces.

Organizational Strengths

Under the canopy of creative & innovative construction skills & technology alongside and

scrupulous & efficient management, our organization has carved a respectable niche for itself

in the national market. Our pool of erudite, experienced, and expert professionals from

engineering and other fields command very comprehensive & exclusive knowledge as well

as expertise for well-rounded miracles in the real estate sector.

Financial Strength

Shalimar Corp Limited has delivered consistent and handsome growth through its annual

revenues to investors & shareholders since its very inception.

Corporate Offices & IT Parks

We built our first business premises, "SAS HOUSE", in the year 1987. Over the years we

have constructed a large number of diverse commercial premises, offices, and state-of-the-art

software facilities. A fine example of our commercial premises expertise is on showcase in

the form of ‘Shalimar Titanium’, which also houses our Corporate Headquarters.

44
Located in prime areas of the city, our business and commercial spaces possess unique style

and modern technology. We are well-equipped to provide buildings of your choice and

dreams, promptly and punctually. Our buildings are testament to our esoteric competence and

mellowing experience. We also offer built-to-suit and ready-to-occupy options.

Our recent constructions include: A Built to Suit Software Park for Tata Consultancy Services

(TCS) and a Hotel Complex for Donaday Hotels of U.K. at Vibhuti Khand, Gomti Nagar,

Lucknow, on a 5-acre commercial plot.

45
VISION AND MISSION

Vision

We aim at delivering world class projects while maintaining a well-rounded organizational

growth, just not only building better homes or offices but also providing better facilities, in

order to offer a life of better quality.

Shalimar: A Mission

Shalimar Group, a well-recognized name in real estate business, made an entry in this field in

1985 from Lucknow, initially known as SAS Group. It has grown from strength to strength

setting benchmarks for quality standard innovating in style and technology that captured the

attention of discerning customers. Highly visible buildings constructed under its banner

epitomized excellence and redefined luxurious lifestyles which was once associated with

Lucknow Nawabi culture. After fluttering its banner in the skyline of Lucknow, it has carried

forward the flag to Delhi & Haryana.

Delivering world class projects with balanced organizational growth is our mission. Our

motto is not only to build better homes, offices and commercial places but to also provide a

better quality of life and environment to end users. We have an unflinching commitment to

the highest levels of innovation professionalism, social and moral responsibility to our

customer enduring them with enthralling architecture, lavish comforts and a gracious living.

46
ORGANIZATIONAL STRUCTURE

The people who have been a source of continuous power and strength to 'Shalimar' are our

foundation pillars. Their management skills and never-ending endeavour to take Shalimar a

step ahead of not only its counterparts but also exceed its own performance have enabled

Shalimar Group to reach the top and stay there firmly.

Mr. Khalid Masood Joint Managing Director in M/s. Shalimar Corp Ltd.

A blend of MBA, Civil Engineering and multi-dimensional business skills, he stands out as a

guiding light in framing Shalimar Group’s business strategy. Being extremely focused on all-

round growth of the company, he efficiently handles execution of projects, sales/marketing

and administrative decisions.

Mrs. Leena Seth Director in M/s. Shalimar Corp Ltd.

47
The energy bundle who fuels Shalimar with enthusiasm and holds administrative duties. She

is also responsible for landscaping and interiors of Shalimar projects. Mrs. Seth lends a touch

of class to the Shalimar brand.

Mr. Masood Ahmad Chairman in M/s. Shalimar Corp Ltd.

A visionary with a highly developed business acumen, Mr. Masood is one of the leading

sheet anchors of the Shalimar Group. He has been guiding the company’s corporate and

marketing affairs with foresight, disciplined planning and efficient execution since its

inception. Under his dynamic spearheading, Shalimar has achieved remarkable professional

strength.

His sterling qualities include leadership capabilities, pursuit of excellence, inspiring &

encouraging his workforce for dedicated commitment, taking the company to greater heights

of success.

Mr. Abdullah Masood Director in M/s. Shalimar Corp Ltd.


48
An MBA, having diversified from Glass Processing Industry, he holds the responsibility of

Government allied works on his shoulders. He has expertise in execution of projects as well

as relentless passion for infrastructure projects, in short dynamism personified.

Mr. Kunal Seth Director in M/s. Shalimar Corp Ltd.

One of the youngest and most illustrious businessmen in the Indian real-estate sphere

currently, our Director Mr. Kunal Seth is an infusion of fresh young blood into the stolid and

well-founded structure Shalimar figuratively is. An alumni of the esteemed Narsee Monjee

College of Commerce and Economics, he has spearheaded a campaign to introduce 21st

century business techniques on the work floor and the results have been astounding to say the

least.

49
awards

Excellence in work and continuous progress has won the Shalimar Group many accolades.

Today it stands out as a name of repute in the real estate world. Spreading its wings from

Lucknow to Delhi-NCR, excelling in one project after the other.

Shalimar Group counts its buyer's satisfaction and achievement as its prime most appraisal.

This satisfaction is the accolade we cherish the most.

Honorable Minister presenting the Zee News Jewels of the Real Estate Award to

Mr.Sanjay Seth, MD of Shalimar Corp Limited.

CORPORATE SOCIAL RESPONSIBILITY

CORPORATE SOCIAL RESPONSIBILITY POLICY

CSR Philosphy

50
Shalimar Corp Limited (“SCL” or “the Company”) firmly believes in adopting the highest

standards of organizational behavior and corporate values in order to consistently contribute

to the Social, Economic and Environmental Development of the community in which it

operates and creation of value for the nation.

SCL recognizes the community in which it operates as not just a stakeholder but the very

purpose of its existence. SCL constantly endeavours to un dertaking business in a socially,

ethically and environmentally responsible manner.

CSR Vision

SCL through its CSR initiatives will strive to enhance value creation in the society and the

community in which it operates so as to promote its integrated and sustainable development.

CSR Policy

The Corporate Social Responsibility Policy (“CSR Policy”) adopted by the Company spells

out Company’s its philosophy towards its social responsibilities ;ongoing commitment to

contribute to the economic and social development of the society and lays down the

guidelines, framework and mechanism relating to the implementation, monitoring, reporting,

disclosure, evaluation and assessment of projects, programmes and activities forming part of

Company’s CSR.

Scope and Objective CSR Policy

SCL’s CSR Policy is framed to comply with the provisions of Section 135 of the Companies

Act, 2013 (“the Act”) and the Rules (both as defined hereinafter) and shall apply to all CSR

projects or programs undertaken by the Company in India, in relation to one or more

activities outlined in Schedule VII of the Act.

51
The Policy has been approved at the meeting of the Board of Directors held on December 01,

2014 and is effective from the said date.

The Policy, inter-alia, provides for the following:

 Establishment of framework for compliance with the provisions of Regulations to

dedicate a percentage of the Company’s profits for CSR activities

 Implementation of procedures for carrying out the CSR initiatives and reporting

thereof

 Creation of opportunities for active participation in the CSR activities.

Definitions

 “Act” means the Companies Act, 2013 (18 of 2013).

 “Board” means the Board of Directors of the Company.

 “CSR Co-ordinator” means the senior executive of the Company/holding/subsidiary

company, nominated as such by Chairperson in writing who shall also be the ex-

officio Secretary to the CSR Committee.

 “CSR Committee” means the committee of the Board of Directors constituted

pursuant to Section 135(1) of the Act and the Rules.

 “Rules” means the Companies (Corporate Social Responsibility Policy) Rules, 2014.

CSR Committee

The CSR Committee shall consist of 3 (three) directors, out of which at least 1 (one) director

shall be independent director. The CSR Committee shall meet at least twice in a financial

year and the quorum for CSR Committee meetings shall be 2 (two) members. Such other

meetings of the Committee can be convened as and when deemed appropriate.

52
The Committee members may attend the meeting physically or via such audio-visual means

as permitted under the Act. The CSR Committee may call such employees(s), senior

official(s) and / or other concerned persons, as it deems fit.

In terms of section 135 of the Companies Act, 2013 and the Rules made thereunder, the

Board of Directors of the Company at its meeting held on November 10, 2014 has constituted

the CSR Committee comprising of:

SL. No. Name Designation in Committee


01 Mr. Sanjay Seth Chairman
02 Mr. Khalid Masood Member
03 Mr. Rajendra Prasad Member
Functions of

CSR Committee

The CSR Committee to, inter alia, carry out the following functions;

i. To formulate and recommend to the Board, a Corporate Social Responsibility Policy

which shall indicate the activities to be undertaken by the Company as specified in Schedule

VII of the Companies Act, 2013 and the rules made thereunder.

ii. To recommend the amount of expenditure to be incurred on the CSR activities.

iii. To monitor the implementation of framework of CSR Policy.

iv. To carry out any other function as mandated by the Board from time to time and / or

enforced by any statutory notification, amendment or modification, as may be applicable,

necessary or appropriate for performance of its duties.

CSR Activities

53
CSR programmes or projects to be undertaken by the Company in terms of the Policy (either

new or on-going), shall relate to one or more activities listed in Schedule VII of the Act, as

amended from time to time.

CSR expenditure shall include all expenditure including contribution to corpus, for projects

or programmes relating to CSR activities approved by the Board on the recommendations of

the CSR Committee, but shall not include any expenditure on any activity which does not fall

within the purview of Schedule VII of the Act.

Funding & Allocation

The Company shall allocate the following amounts towards its annual CSR corpus -

i. 2% of average net profits made during the three immediately preceding financial

years, as prescribed under the Act and the Rules and calculated in accordance with

Section 198 of the Act, or such other percentage as may be prescribed by the Central

Government from time to time;

ii. any income arising therefrom; and,

iii. surplus arising out of CSR activities.

iv.

In the absence of Net Profits in any financial year, the Company shall endeavour to

spend such feasible amount as it may decide.

The allocated CSR budget will be utilized for CSR activities undertaken within India,

which are not:

i. exclusively for the benefit of employees of the Company or their family members;

and/or,

ii. undertaken in pursuance of normal course of business of the Company.

54
The Company shall endeavor to spend the entire amount of statutory minimum contribution

limit in a financial year. In the event, the Company is unable to spend such amount in any

given financial year, the Board shall specify the reasons for the same in its report to the

shareholders in terms of Section 134(3)(o) of the Act.

Powers for approval

CSR Co-ordinator shall assist/support the CSR Committee in identification, proposing,

implementation and monitoring of CSR projects or programmes, in terms of the Policy.

The CSR projects or programmes will be identified by CSR Co-ordinator either suo-moto or

on receipt of proposals/requests from internal & stakeholders e.g. district administration,

local bodies, citizen’s forums, central or state government, registered trusts, societies or other

entities engaged in CSR related activities.

CSR Committee shall formulate its annual planned expenditure, for a financial year, for the

CSR activities and submit the same for approval of the Board in the format prescribed

above.

The Board shall, after taking into account the recommendations made by the CSR

Committee, consider and approve, as it may consider appropriate.

The Board and/or CSR Committee may delegate the power(s)/authorize the CSR Co-

ordinator and/or one or more of senior executives/officers of the Company/holding

company/subsidiary company, as deemed fit and necessary, to execute, implement and

monitor projects and programmes under the Policy.

The Board shall ensure that Company spends the requisite amounts specified under the Act

on CSR activities, failing which it shall specify in its report the reasons for not spending the

amount.

55
Mode of Implementation

CSR programs or projects under the Policy, will be implemented either –

i. directly by the Company; or,

ii. through any other Registered Trust, Society, Section 8 Company (i.e. a company

incorporated under Section 8 of the Act), established by the holding, subsidiary and

associate company of the Company; or,

iii. through any other Registered Trust, Society or Section 8 Company, not being

established by the holding, subsidiary and associate company of the Company, with

an established track record of at least three years in carrying on activities in related

areas; or,

iv. in collaboration with other companies; or, combination of one or more of the above.

In case one or more CSR projects or programme(s) are undertaken in collaboration with any

other company and/or society, trust or section 8 company, clear demarcation with respect to

responsibility, contribution, implementation, monitoring etc. of each collaborator shall be

established.

The time period for implementation of a particular CSR project or programme or activity

shall depend on, amongst other things, its nature, extent of coverage, intended impact of the

programme etc.

All CSR projects or programmes under the Policy shall be undertaken in India only, with due

consideration and preference to local areas around area of operations of the Company.

Feedback & Monitoring

In order to ensure effective implementation of CSR projects or programmes, the CSR

Committee while approving projects or programs to be undertaken by the Company pursuant

56
to the Policy during a financial year, shall decide the implementation schedule and frame

suitable project-specific monitoring mechanism. The CSR Co-ordinator and/or one or more

of senior executives/officers of the Company/holding company/subsidiary company shall

execute and implement, such implementation schedule and monitoring mechanism,

respectively.

The CSR Co-ordinator shall submit a quarterly report to Chairperson, outlining the

progress/update on on-going CSR programmes.

The CSR Co-ordinator will endeavor to obtain feedback from the beneficiaries on on -going

CSR projects.

The Board’s report of the Company shall contain an annual report on CSR containing the

particulars prescribed by the Act and the Rules.

General

The Company shall take such necessary steps, as may be deemed necessary, for building

CSR capacities of its own personnel and/or those of the implementing agencies engaged for

CSR activities, through Institution(s) authorized in the said behalf, from time to time.

The interpretation of the Chairperson of CSR Committee on the provisions of the Policy shall

be final.

The Company reserves the right to amend, cancel or replace the Policy at any time, subject

however, to the provisions of the Act and the Rules.

57
PRODUCT RANGE

Residential

58
Shalimar Gallant,

Lucknow

2BHK 2BHK+S 3BHK 4BHK & PH

59
Ibiza Town

Delhi/NCR

3BHK 4BHK & PH

60
Shalimar Mannat,

Lucknow

2BHK & 3BHK

61
OBJECTIVE OF THE STUDY

62
OBJECTIVE OF THE STUDY
An objective is the most important part of a research .The objective is the bull’s eye,

which a researcher has to hit. The objective determines the path on which a researcher

has to walk on, and help him/her by not deveining from the path.

 Analyse the Consumer behaviour of among Real estate .

 Analyse consumer satisfaction for after sales service provided by Real estate.

 To analyze the awareness among customers of Real estate.

 To analyse brand loyalty of customers towards the company’s products range.

63
SCOPE OF STUDY

The scope formulation is the first step to a successful Research process. Project undertaken

the problem of analyzing the consumer satisfaction with special reference to Real estate in

lucknow

IMPORTANCE AND USE OF THE STUDY

To keep things in mind that as the ever changing competitive business environment. New

thoughts and ideas should pour into its, Research & Development to innovate its existing

products which should be beyond competitors comprehension.

This study enables the user with answer to formulate an effective marketing mix strategy

with a broader prospective to tap areas where it did not feel the need earlier, hence the

decision of whether to penetrate this section or not can be found out at the end of the data

analysis.

It also gives an idea of the potential of our business in the future & the fluctuation in prices

from time to time & from product to product.

Special reference is made to the improvement of ability of product in terms of packaging&

product innovations & advertisement always means to cut down competitors.

64
RESEARCH METHODOLOGY

65
RESEARCH METHODOLOGY

INTRODUCTION

This chapter aims to understand the research methodology establishing a framework of

evaluation and revaluation of primary and secondary research. The techniques and concepts

used during primary research in order to arrive at findings; which are also dealt with and lead

to a logical deduction towards the analysis and results

RESEARCH DESIGN

The research design applied here was exploratory research

Exploratory Research is one in we don’t know about the problem, we have to find about the

problem and then work on solving the problem. Whereas in case of descriptive research, we

know the problem, we just have to find the solution to the problem. Generally descriptive

research design is applied after exploratory research design.

Here after doing the secondary research, we found the general perception about the retail

baking but then in second phase we tried to figure out where the difference lies and on what

basis the banks differ from each other

RESEARCH TOOL

Research tool

The purpose is to first conduct a intensive secondary research to understand the full impact

and implication of the industry, to review and critique the industry norms and reports, on

which certain issues shall be selected, which remain unanswered , this shall be further taken

66
up in the next stage of secondary research. This stage shall help to restrict and select only

the important question and issue, which inhabit growth and segmentation in the industry.

DATA COLLECTION:

Both primary and secondary data have been collected very vigorously

Secondary data: it is collected by the study of various reports. The reports studied under

secondary data. Primary Data was taken with questionnaire

THE RESEARCH REPORT

The report is the result of a survey which was undertaken in Lucknow city. The objectives

of the project has been fulfilled by getting response from the customer associated to these

segments through a personal interview in the form of a questionnaire. The responses

available through the questionnaire are used to evaluate the consumer behaviour for the

products of Real estate and the willingness of the customer to purchase its products on

future.

The project also covers an analysis of the switch over of customers to competitors products

in the market.

THE RESEARCH PROBLEM

The problem formulation is the first step to a successful Research process.

Project undertaken the problem of analyzing the customer satisfaction in Real estate

67
THE RESEARCH OBJECTIVE

Based on the problem the objective of the research is divided into two which

are as follows:

Primary Objective:

 To analyse customer satisfaction towards the company’s products range.

Secondary Objective:

 Analyse customer satisfaction for different Real estate products.

 Analyse the customer behaviour of Real estate.

THE RESEARCH DESIGN

The research design used in the project is exploratory design. The

investigation is carried upon the customers in Lucknow city. The reason for choosing this

design is to get responses from the customers so that their buying behaviour about the

products of the company and their loyalty could be predicted.

THE DATA SOURCE

The data has been taken from two sources

 Primary data source

The primary data source has been collected through questionnaire by personally

interviewing each respondent on a number of queries structured in a questionnaire.

 Secondary data source

Secondary data was collected from following sources

Prior research reports

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Websites

Books

Newspaper

Personal consultation

THE AREA OF WORK

The field work is conducted in the Lucknow city in Shiv shakti infravision

Pvt.Ltd. and other Real Estate Industries as well as various Places like Mall, Showroom and

retailers situated in different location all over the city.

THE SAMPLE SIZE

The sample size consists of 100 units out of which the most logical and non

biased response are selected thus the sample size is taken out to be 100 units.

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LIMITATION

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LIMITATION

Though, best efforts have been made to make the study fair, transparent and

error free. But there might be some inevitable and inherent limitations. Though outright

measure are undertaken to make the report most accurate.

The limitation of the survey are narrated below:

 The project is valid for Lucknow city only.

 It was not possible to cover each and every respondent due to time constrains.

 There may be some biased response form the respondents

 Some respondents did not provide the full data.

 Unwillingness on the part of the customers to disclose the information as per the

questionnaire.

 The decisiveness on the part of the customers regarding some question hence difficulty

faced in recording and analyzing the data.

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DATA ANALYSIS

AND INTERPRETATION

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DATA ANALYSIS

1. Do you like the idea of purchasing Real estate products?

Yes 87
No 13

INTERPRETATION

87% respondent said that they have idea of purchasing Real estate products but 13% are not

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2. Have you ever purchase product of Real estate ?

Yes 77
No 23

INTERPRETATION

77% respondent said that they have ever purchase product of Real estate but 23% are not

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3. What helps you to decide which product of Real estate you purchase ?

TV Advertisement 23
Personal recommendation 36
Special offer 11
Radio advertising 17
News paper 7
Word of mouth 6

INTERPRETATION

23% respondent said that they decide to purchase the product of Real estate by TV

advertisement, 36 personal recommendation, 11% special offer, 17% radio advertising, 7%

from News paper and 6% word of mouth.

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4. How frequently you see advertisement of Real estate product ?

Weekly 27
Monthly 37
daily 27
None 19

INTERPRETATION

25% respondent said that they have see advertisement of Real estate product weekly, 33%

monthly, 25% daily, but 17% none.

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5. For which one of the following purpose you visit in your product ?

Purchasing brand goods 57


Purchasing local goods 23
Only gathering information 11
Others 9

INTERPRETATION

57% respondent said that they have purpose to visit product purchasing brand goods, 23%

purchasing local goods, 11% only gathering information and 9% others.

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6. What according to you are attractive features that buy Real estate product ?

Quality 32
Economy 49
look wise 19

19%
32%

49%

Quality Economy Look wise

INTERPRETATION

32% respondent said that they have attractive features that buy Real estate product Quality,

49% Economy, 19% Lookwise.

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7 Are you satisfy with Real estate Products?

Yes 91
No 9

INTERPRETATION

91% respondent said that they satisfied buy 9% no.

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8. Do according to you Real estate product have changed the way the Consumer behavior

towards Real estate product ?

Yes 71
No 29

INTERPRETATION

71% respondent said that Real estate product have changed the way the Consumer behavior

towards Real estate product Yes but 29% said no.

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9. Do you suggest Real estate products to others

Yes 89
No 11

INTERPRETATION

89% respondent said that they suggest Real estate products to others yes but 11 said no.

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10. How will you rate your present Real estate product performance?

Poor 7
Satisfactory 23
Fair 27
Good 21
Very good 13
Excellent 9

INTERPRETATION

7% respondent said that they rate your present Real estate product performance poor, 23%

satisfactory, 27% fair, 21% good, 13% very good, 9% excellent.

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FINDINGS

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FINDINGS

 87% respondent said that they have idea of purchasing Real estate products but 13%

are not
 77% respondent said that they have ever purchase product of Real estate but 23% are

not
 23% respondent said that they decide to purchase the product of Real estate by TV

advertisement, 36 personal recommendation, 11% special offer, 17% radio

advertising, 7% from News paper and 6% word of mouth.


 25% respondent said that they have see advertisement of Real estate product weekly,

33% monthly, 25% daily, but 17% none.


 57% respondent said that they have purpose to visit product purchasing brand goods,

23% purchasing local goods, 11% only gathering information and 9% others.
 32% respondent said that they have attractive features that buy Real estate product

Quality, 49% Economy, 19% Lookwise.


 91% respondent said that they satisfied buy 9% no.
 71% respondent said that Real estate product have changed the way the Consumer

behavior towards Real estate product Yes but 29% said no.
 89% respondent said that they suggest Real estate products to others yes but 11 said

no.
 7% respondent said that they rate your present Real estate product performance poor,

23% satisfactory, 27% fair, 21% good, 13% very good, 9% excellent.

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SUGGESTIONS AND

RECOMMENDATION

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SUGGESTIONS AND RECOMMENDATION

The recommendations are

 The brand loyalty for more Shalimar can be increased if the Quality and appearance of

the products are given due attention because Ansal has captured a major share of

automobile sector.

 The switch over of the customers can be prevented if more of new products are launched

more frequently like Ansal which launches new products with slight variations from the

previous.

 Quality are good but it still needs improvements.

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CONCLUSION

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CONCLUSION

The report comes to the following conclusion

 The customers of Real estate are brand loyal with only a small percent want to shift over

to other brands. Trying of other brands by customers is mainly because the customer

wants to try something new.

 The performance of Real estate is fair in comparison to other pro brands.

 Economy is the basic feature influencing to built brand Image.

 Due to high brand loyalty the customers of Real estate recommend its product to others.

 The customers are satisfied with the product range of Real estate product.

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BIBLIOGRAPHY

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BIBLIOGRAPHY

BOOKS AUTHORS

 Marketing Management : Philip Kotler

 Marketing Research : D. D. Sharma

 Research Methodology : C. R. Kothari

 Websites

 www.Real estate.com

 www.google.com

 www.shivshaktiinfra.com

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ANNEXURE

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QUESTIONNIARE

Q1) Do you like the idea of purchasing products Real estate ?

( a) Yes ( b) No

Q2) Have you ever purchase product of Real estate ?

( a) Yes ( b) No

Q3) What helps you to decide which product of cement you purchase?

( a) TV Advertisement ( b) Personal recommendation ( c) Special offer

( d) Radio advertising ( e) News paper ( f) Word of mouth

Q4) How frequently you made a purchase Real estate product ?

( a) Weekly ( b) Monthly ( c) Quarterly ( d) None

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Q5) For which one of the following purpose you visit in your product ?

( a) Purchasing brand goods

(b) Purchasing local goods

(c) Only gathering information

(d) Others

Q6) What according to you are attractive features that buy Real estate product ?

(a) Quality (b) Economy (c) performance

Q7) Are you satisfy with Real estate Product ?

(a) Yes (b) No

Q8) Do according to you Real estate product have changed the way the

Consumer behavior towards real estate ?

(a) Yes (b) No

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Q9.Do you suggest Real estate products to others

 Yes

 No

Q10. How will you rate your present Real estate performance?

 Poor

 Satisfactory

 Fair

 Good

 Very good

 Excellent

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