Posted on 23rd Oct 2024 12:51:32 AM Marketing
1.1 Introduction
Residence is one of the basic needs of human beings. The right to live in one’s own is a fundamental right of people and it is internationally recognized. The demand of housing in urban areas in developing countries like Bangladesh is dramatically increasing due to natural increase and its fast growth rate. Rural people are migrating not only to find jobs but many wealthy people are moving to urban areas like Dhaka city for the fulfillment of their expectations of better of their future generation, and for enjoying the modern facilities of the city life. This has resulted into a serious crisis all over the country especially in the major cities of Bangladesh. In recent time, the private real estate firms have taken initiatives by ensuring maximum uses of land in a planned way. In this system it is possible to accommodate more people in a comparatively small place.
Advanced Development Technologies Ltd. (ADTL) is one of the leading real estate companies in Bangladesh. It specializes in developing luxurious apartments in prime locations of the Dhaka city. ADTL is also an active member of Real Estate & Housing Association of Bangladesh (REHAB) and currently vice president of REHAB. Advanced Development Technologies Ltd. has become a trusted name in the real estate sector in Bangladesh. From its very inception, the company has won the confidence and goodwill of its client's achieving a yearly turnover of taka 600 million with a compound growth of sixty percent. The study focuses competitors and customers of ADTL in field of Real Estate business in Bangladesh. The studies will find out what should be the company’s decision concerning consumers attitude and competitors moves in market.
1.2 Background of Advanced Development Technologies Ltd.
Advanced Development Technologies Ltd. (ADTL), evidently, had made a mark in the very first year of its emergence with leaping to prominence as prime locations of the city and in manufacturing quality concrete products which have earned them the distinguished stature they enjoy today. Attuned to the rhythms tomorrow, ADTL had humbly launched its journey to reach to its noble vision to ensure a new standard of living for all and thus the slogan it sets ‘For a Beautiful Tomorrow” turns justified while it enormously helps people make pro-nourished dream come true. ADTL’s mission is to build beautiful homes keeping pace with the changes in tastes and needs of modern life style. Using the innovative entrepreneurial approaches, it’s vision is to play a major role to help resolve the housing problem thereby improving the quality of life of the people and ultimately become the market leader in the real estate business. At present, ADTL has Ninety (90) apartment building projects at hand in the most prestigious areas of the city such as Gulshan, Banani, Baridhara, Dhanmondi, Baily Road and Uttara. Sixty Four (64) complete apartment buildings have already been handed over to its clients. Another Eighteen (18) apartment buildings will be handed over very soon and Eight (8) upcoming projects. ADTL attained a compound growth of over 60% in terms of its yearly turnover.
Embarking on a business diversification program, ADTL is operating the most modern fully automatic concrete batching plant with latest technology from UK and Germany, producing high strength & quality concrete to cater to the existing demand of the construction sector.
Entered into joint venture with a reputed Korean company to facilitate transfer of technology and introduction of latest building technology to manufacture environment friendly products like concrete blocks, brick pavement blocks etc. A pioneering initiative in collaboration with a reputed “Korean Architecture & Construction Company” has been undertaken ADTL with a view to developing modern satellite townships with integrated facilities in the vicinity of Dhaka city to cater to the housing needs of the middle class.
In order to develop, initiate and promote major infrastructure development projects in Bangladesh, ADTL has also establish a joint venture collaboration with a USA based international business development group –“SYF Group Inc.” The initiative looks forward to promoting and exploring business opportunities between Bangladesh and USA in the energy, transportation, telecommunication and tourism sectors in line with the strategy of Government of Bangladesh.
Focussing on the potential business trend, ADTL has recently undertaken an agro based production initiative on 100% export oriented food products with setting up of “Europa Foods Ltd.” keeping an aim at exporting quality potato flackes in the European market; it will go into production by September 2005.
1.3 Literature Review
Literature review is essential for every research paper. In this connection to prepare this research this paper I have taken help from many articles, which are related to the present study.
Dr. Miznur Rahman, in his article “The Real Estate Business in Dhaka City” has tried to analyze the market situation, competition, and customer perceptions about the real estate developers. But in his paper he does not mention how the top ranking real estate companies are gaining competitive advantages, and he does not pass his valuable comments on promotional mix, marketing mix etc. which are very important aspects of marketing in the context of competitive market.
According to the journal of IBS Mr, Shib Shankar Roy attempt to investigate how the private Real Estate sector solving the housing need and to analyze the market situation & perception of customer about the Real Estate marketers. He also concludes that the Real Estate marketers should have appropriate plans for constructing low cost apartment in the peripheral areas of the town. But he does not mention how a company can set their marketing strategy for their apartments.
Mr. Taluckder and others has tried to examine and assess the present of apartment marketing and its future. Now, the business environment has changed to multi-various purposes, such as for business, residence etc. The business activities have not been focused through their paper like the promotional activities as the problems associated with the business have not yet been highlighted exactly.
Also, the paper does not pin point how to overcome the major barriers of the Real Estate Companies that are being faced by the developers as well as buyers in the context of present competitive market of the apartment marketing. The study suggests that the future apartment building projects should be planned to cater to the needs of the middle income people. Banks and other financial institutions should extend their assistance to the apartment builders. But they do not mention in their paper that how the problems of the Real Estate Business can be solved. However, they have extended their hands to highlight the various problems by providing information in the arena of Real Estate Business.
Mr. Belayet and others has attempted to investigate the nature of real estate business, psychological aspect of buyers, and policy decision of the firms. But the study does not highlight the subject in details. For purchasing high involvement product like an apartment, there is various economic and psychological factors influence the buyers purchasing decisions. Also, the study does not suggest what kind of government help and facilities will specifically be effective for growing Real Estate Business. But the study mentions some significant aspects of Real Estate Business like the nature of Real Estate Business, pricing policy etc.
1.4 Importance of the study
In developing the urban area, Real Estate Company such as ADTL plays an important role as well as solving housing problem. Now a day’s real estate business in Bangladesh became very much competitive. Competitors are moving very aggressively to achieve their target as well as increase their market share. On the other hand, the customers are become very much aware about the current market of apartments as a result it became very difficult to take decisions. Primary data that are collected and analyzed in this study will be helpful for the decision makers of Advanced Development Technologies Limited.
1.5 Objectives of the study
Every study must have its objectives. Again the objectives should be specified and well defined. So the main objective of this study is to analyze the marketing strategy and the current market of Advanced Development Technologies Ltd.
Bearing the above view in mind, I have notified the following objectives for my research.
1. To find out the gap between the basic marketing and practical marketing.
2. To investigate the present marketing situation of ADTL.
3. To analyze the SWOT of ADTL. and
4. To analyze the customer’s perception about ADTL.
1.6 Scope of the Study
The report is mainly analyzing the marketing strategy of Advanced Development Technologies Ltd. and also analyzes the competitor’s moves as well as the customer’s evaluations about apartments in the Real Estate business sector. The report basically takes into consideration only the apartments business of ADTL. Ready Mix Concrete business, Agro based food business of ADTL will not be considered in this research.
1.7 Methodology
I followed some fundamental steps in the process of marketing research. In my research, I adopted some method to conduct the activity:
i) Source of information
I determined the sources of information that would be required for the study. I used both primary data to conduct the study. The information, which is collected directly from the field for the purpose of the study, is primary data. I collected primary data by surveying the competitors of ADTL as well as the existing and potential customers. I have to turn to the primary sources and collected the information directly by the following ways:
a) Questionnaire for competitor companies.
b) Questionnaire for existing and potential customers.
c) Interviewing the directors and executive of the competitor companies as well as customers.
ii) Data collection method
In the case of primary data collection, three types of methods are used.
a) Personal interview
b) Telephone interview and
c) Questionnaire.
I have collected most of my information through questionnaire and in some cases with telephone interview and personal interview. Because full information cannot be collected through the questionnaire and personal interview, much of the information was not from one member at a time. In some cases competitor companies provide false information’s to keep their business secrecy, that’s why it became necessary to take personal and telephone interview to find out the true information. Some set of questions and discussion method will be used to conduct the face-to-face interview of the experts.
iii) Questionnaire Preparation
Questionnaire is the set of questions that have been fixed earlier on basis of which the respondent give the answer of the question. At the time of preparing questionnaire I have to careful about the warding of the questions. And the list of questions should be in sequence. The following factors are given importance:
· Use simple language.
· Avoid lengthy question.
· Be specific as possible.
· Avoid leading question.
· Avoid unwanted question.
· Avoid estimated question.
· Avoid ambition question.
Except there, I have used some close-ended question so that the respondents can give the answer easily and consequently helped for tabulation. I also used open-ended question so that the respondent can express his judgment on the questionnaire.
iv) Sample
Sample is a part or portion of whole population, which is selected purposively. But the sample must be representative of whole population. The main purpose of sampling may be hampered if the sample selection is not perfect, i.e. it may give a wrong result of the research. So, it is very important to select the sample perfectly.
v) Sample area
Sample area is too important for research work. There fore, the selection of the sample area is necessary for a researcher. I have selected city as my sample area of the study.
vi) Sample size
Sample size is very important for research work. In order to avoid any difficulty I have taken a small sample size in my research project. But I avoid too little sampling as I get a standard result from the research project. I have selected to Dhaka city of the country. Sample Size will be determined rationally for each questionnaire survey.
vii) Sample selection method
I have used Simple random sampling method to conduct the individuals, present & prospective client’s survey and Judgmental sampling method will be used to conduct survey among the builders.
1.8 Limitation of the study
There are limitations in every research that interrupt the workings of the research. The limitations, which are faced by me in conducting the study, are as follows,
· Time constraints.
· Lack of adequate financial support.
· Unavailability of previous research work.
· Conservativeness of respondents.
1.9 Presentation of the report
The present study is presented in four chapters.
In the first chapter, Introduction, Company background, Importance of the study, objectives of the study, Methodology, Limitation of the study and Presentation of the report have been discussed.
In the chapter two, differences between the marketing strategy of Advanced Development Technologies Ltd. and basic marketing are discussed.
In chapter three, an analytical study is conducted to prove the actual happening in so far the general features of the existing competitors in the market and the SWOT of Advanced Development Technologies Ltd.
In the chapter four, an analytical study is conducted upon the existing and potential customer to identify their attitude and tests towards apartments.
The final and fifth chapter reveals a summary of the study, which have been discussed steps to develop the marketing strategy and conclusion.
CONTENTS
Dedication
Acknowledgement
CHAPTER : ONE
1.1 Introduction
1.2 Background of the company
1.3 Literature Review
1.4 Importance of the study
1.5 Objectives of the study
1.6 Scope of the study
1.7 Methodology
i) Source of information
ii) Data Collection method
iii) Questionnaire preparation
iv) Sample
v) Sample area
vi) Sample size
vii) Sample selection method
1.8 Limitation of Study
1.9 Presentation of the study
CHAPTER : TWO
2.1 Marketing Strategy
2.2 Marketing Mix Development
2.3 Product
i) Product Quality
ii) Product Features
iii) Product Style & Design
iv) Brand
v) Brand Strategy
vi) Differentiation of Product
a. Product Differentiation
b. Service Differentiation
c. Personnel Differentiation
d. Channel Differentiation
e. Image Differentiation
vii) Positioning the Product
a. Positioning in Relation to a Competitor
b. Positioning in Relation to a Product Class or Attribute
c. Positioning by Price and Quality
d. Positioning in Relation to a Target Market
viii) Product Life Cycle Marketing Strategy
2.4 Price
a. Mark up Pricing
b. Target Return Pricing
c. Perceived Value Pricing
d. Value Pricing
e. Going Rate Pricing
f. Sealed Bid Pricing
g. One Price Strategy
h. Flexible Price Strategy
2.5 Distribution
2.6 Promotion
a. Advertisement
b. Personal Selling
c. Sales Promotion
d. Public Relation
e. Direct Marketing
i) Type of Product Market
ii) Push versus Pull Strategy
iii) Buyer- Readiness Stage
iv) Product Life Cycle Stage
v) Company Market Rank
CHAPTER : THREE
2.1 Legal status & Management structure
2.2 Market Segmentation
2.3 Reasons Behind The Growth of The Industry
2.4 Existing Products
2.5 Pricing of Apartment
2.6 Promotional Activities
2.7 Current Market
2.8 Degree of Vertical Integration
2.9 Ease of Entry or Exit
2.10 Bargaining power of Customer and Supplier
2.11 Density of Competition
2.12 Technology/Innovation
2.13 Economy of Scale
2.14 Capital Requirements
2.15 Profitability
2.16 Government Activities
2.17 SWOT analysis
CHAPTER : FOUR
3.1 Customers Status & Personal Information
i) Age Range of Customers
ii) Family Details of Customers
iii) Customer’s Occupation
iv) Educational Qualifications of Customers
v) Income Range of Customers
3.2 Company Factors Towards Customer
3.3 Pre Buying Attitude of Customers
i) Why Customers Buy Apartment?
ii) Pre buying Decision Factors of Customer
3.4 Post Buying Attitude of Customers
i) Company Commitment to the Customers
ii) Different Problems Faced by Customer
CHAPTER : FIVE
Summary
Conclusion
Recommendation
Appendix–A Competitor Questionnaire
Appendix–B Customer Questionnaire
Bibliography
LIST OF TABLE
Table 1: Market Segmentation
Table 2: Price lists of different companies
Table 3: Promotional Tools Used by Different Companies
Table 4: Investments for Promotion
Table 5: Comparative SWOT analysis
Table 6: Competitor’s current situation
Table 7: Age Range of Customers
Table 8: Family Members of Customers
Table 9: Educational Level of Customers
Table 10: Influencing Factors of Buying Decisions
Table 11: Customers Evaluation about Apartments
LIST OF CHART
1. Companies in different segment
2. Company’s product line
3. Use of promotional tools
4. Market image in companies view
5. Availability of market information
6. Changing customer attitude
7. Bargaining power of customer
8. Bargaining power of supplier
9. Marketing skill of companies
10. Availability of land for new project
11. Age range of customers
12. Family members
13. Education of customer
14. Income of customer
15. Customers Buying Preference
16. Reason of buying apartment
17. Pre buying factors
18. Most influencing promotional tools
19. Handover of apartment
Internship, Report, Current, Marketing, Situation, Strategy, Advanced, Development, Technologies, ADTL, Bargaining, Power, Customer, Attitude, Supplier, Buying, Preference, Skill, Companies, Influencing, Promotional, Tools, Market, Segmentation, Investments
Share on Facebook