A

Summer Internship Project Report

On

“A Study of Customer’s Perception towards 360 Degree Housing solutions”

Submitted to

(Parul Institute of Engineering & Technology MBA)

In

Gujarat Technological University Ahmedabad

Under the Guidance of

Faculty Guide Company Guide

Prof. Vidhita Sinha Mr. Jay Patel

Submitted By:

Mr. Sandeep Parmar (MBA Semester III)

[Batch: 2014-2016, Enrollment No:147420592037]

TABLE OF CONTENT

1. Chapter: 1 THE INTRODUCTION

2. Chapter: 2 LITERATURE REVIEW

3. Chapter: 3 RESEARCH METHODOLOGY

4. Chapter: 4 DATA ANALYSIS & INTERPRETATION

5. Chapter: 5 RESULTS OR FINDINGS

6. Chapter: 6 SUGGESTIONS OR CONCLUSIONS

7. Chapter: 7 REFERENCES OR BIBLIOGRAPHY

Chapter: 1 THE INTRODUCTION

1.1 Company Profile: Property Planet The Planet Media is a group of companies which include Property

Planet, Black Id solutions, Women Planet. Property Planet was established in 2014 and is pioneer in

providing 360 degree housing solutions. It is a blend of convenience and up-to-date way “Where Property

meets People”. Thus, it provides a common marketing platform where buyers and

sellers meet and search, compare, purchase, rent and decorate their properties.

Chapter: 1 THE INTRODUCTION (Cont’d)

1.2 Concept of 360 Degree Housing Solutions:A 360 Degree housing solutions is unique innovative concept

aiming to provide “A Complete Solutions” for housing requirements starting from property search to make house into home.

It offers all housing needs and home accessories under one roof.

1.3 Distribution Network: Property Planet GIDC Vadodara, Premium Banks & Corporate Houses. Salons, Waiting lounge of hospitals, Malls & Restaurants. Premium Societies, Lifestyle showrooms Real Estate consultants, financial & Investment Advisories Property Planet Subscribers.

Chapter: 1 THE INTRODUCTION (Cont’d)1.4 Services: Property Planet

(1) Home Accessories Book/Property Pedia Book: Biggest size ever (24cm*32cm) with high quality printing in

advertisement Type wise and segmentation wise data of housing needs.

(2) Property Web-portal: Pop-up list with one page display for all selected properties.

(3) 365 Days Exhibition Studio: Display of all property and home accessories data over projector

with free of cost at our company.

(4) Toll free facility: Toll free calling for customer inquiry.

(5) Customer Service Department for Walk in clients: Extension of your office at our office.

Chapter: 2 LITERATURE REVIEW

Content of Literature Review Source of Content Definition: Perception, Perception Process & Nature of Perception

Schiffman, L.G. and Kanuk, L.L., Consumer Behavior, Eight Edition, 2004, Prentice Hall, India.

Difference between Perception & Sensation

Schiffman, L.G. and Kanuk, L.L., Consumer Behavior, Eight Edition, 2004, PrenticeHall, India.

Consumer Decision Model Blackwell, Miniard et al. 2011

The theory of Reasoned action Fishbein & Ajzen 1975 Loudon & Della Bitta 1993

The theory of planned behavior Ajzen, 2006

Theory of Direct Perception J.J. Gibson

Theory of Perception Gregory, 1990, 219)

Self-perception theory Bem, 1965, 1972)

Personal Factors influencing perception Eysenck, Keane, 2008, 74)

Chapter: 3 RESEARCH METHODOLOGY

3.1 Objective of Study: To study the medium (mode) influencing source of information for

property. To identify various factors that affects the customer’s choice of

purchasing home accessories.

3.2 Research Hypothesis:

Null Hypothesis:

There is no significant difference in male and female customers who likes to search property by visiting property web-portals.

Alternative Hypothesis:

There is significant difference in male and female customers who likes to search property by visiting property web-portals.

Chapter: 3 RESEARCH METHODOLOGY (Cont’d)

3.3 Research Design: Exploratory Research Design.

Research Type Exploratory Research

Sampling Type Non-Probability (Convenience Sampling)

Sample Size 100

Sampling Unit Customers living in Vadodara City

Tools for Data Collections A Questionnaire consists of 25 questions.

Sources of Data Primary (Questionnaire) & Secondary (Internet, Official data from company, literature review and Company brochure)

Tools for Data Analysis Student’s t-test (Unpaired t-test)

Chapter: 3 RESEARCH METHODOLOGY (Cont’d)

3.4 Limitations, Scope & Significance of the Study:

1. Limitations of Study:

1. Time, cost and location factors

2. Sample Size limitation

3. Hesitant Customer behavior

2. Scope of Study:

1. This study was carried out in Vadodara.

2. 100 samples were taken for the study.

3. Same study can also be conducted by taking more samples.

4.This study was conducted by questionnaire form.

5. One can use other methods to collect data for it.

Chapter: 3 RESEARCH METHODOLOGY (Cont’d)

3. Significance of Study:

1. It would provide better ways to fulfill customer’s needs for their housing requirements.

2. It would help customers to search, select, buy and rent or sell their property as per their convenience.

3. It would offer a common marketing platform for all housing solutions & home accessories needs under one roof.

4. It would increase provincial reach of customers for clients.

Chapter: 4 DATA ANALYSIS & INTERPRETATION

Question: 1 Your Gender ?

Gender No of RespondentsMale 59

Female 41

Question: 2 Your Age?

Age Group No of Respondents(25-31) 47(32-38) 22(39-45) 15(46-52) 10(>52) 6

Question: 3 What is your level of Education?

Level of Education No of RespondentsUp to 12th 5

Graduation 56Post-graduation 35

Other (Please Specify) 4

Question: 4 What is your Occupation?

Occupation No of RespondentsGovernment Job 24

Private Job 65Business 11

Other (Please Specify) 0

Question: 5 What is your Annual Income?

Annual Income No of Respondents1,20,000 - 2,40,000 Rs/- 212,40,000 - 3,60,000 Rs/- 483,60,000 - 4,80,000 Rs/- 28

> 4,80,000 Rs/- 3

Question: 6 What is your Marital Status?

Marital Status No of RespondentsMarried 55

Unmarried 45

Question: 7 How familiar are you with Property Websites?

Level of Familiarity No of RespondentsNever Heard of Property Websites 20

Aware but Never Used Property Websites 26Regular User of Property Websites 6

Uses sometimes only 48

Question: 8 Which of the following Property Portals do you use for Property search?

Name of Online Property Portal No of Respondentswww.magicbricks.com 23

www.housing.com 18www.makaan.com 2www.99acres.com 12

Not Applicable 45

Question: 9 How would you like to search Property?

Way of Searching Property No of RespondentsBy Visiting Real Estate Agent 21By Visiting Property Websites 24

By Visiting Real sites of Construction 55

Question: 10 Do you like to buy, to sell, or to rent your property through property web-portals?

Option No of RespondentsYes 70No 30

Question: 11 How do you obtain information regarding Property?

Source of Property Information No of RespondentsNews Papers 53Yellow Pages 6

Advertisement 10Referral from Friends & Family 11

Internet 18Brokers 2

Question: 12 What do you think is the most important need for customers when they buy property?

Most Important Need For Customers No of RespondentsLocation 60

Price 9Luxury 3

Basic Amenities 28

Question: 13 What marketing tool (for residential property) is most interesting to you and which you most frequently noticed?

Tool for Marketing No of RespondentsOpen House Advertisement 19News Paper Advertisement 77

Property Magazine 4

Question: 14 According to you which of the following plays very important role in consumer buying of Home Accessories?

Option given to Respondents No of RespondentsSuggestions from Friends & Family 34

Promotional Offers & Price offs 19Attractive Display 22

Advertisement 20Brand Knowledge 2Services of Firm 3

Question: 15 How difficult it is to search most affordable & quality Home Accessories for you?

Level of Difficulty No of RespondentsVery Difficult 31

Difficult 51Not Difficult 15

Question: 16 How much importance do you give to price when you buy your home accessories?

Code Value Frequency Percentage (%)1 Very Important 22 222 Important 77 773 Normal 1 14 Least Important 0 05 None 0 0

Question: 17 How much importance do you give to quality when you buy your home accessories?

Code Value Frequency Percentage (%)1 Very Important 86 862 Important 14 143 Normal 0 04 Least Important 0 05 None 0 0

Question: 18 What do you think about 360 degree housing solutions concept?

Type of Concept No of RespondentsExcellent Concept 29

Good Concept 42Average Concept 19

Poor Concept 10

Statistical Tools for Data Analysis I have applied student’s t-test (Unpaired t-test).

Null Hypothesis:

There is no significant difference between gender and the way of searching property by real estate agent.

Alternative Hypothesis:

There is a significant difference between gender and the way of searching property by real estate agent.

Group 1 (Male Customers) Group 2 (Female Customers)26 2527 2629 2731 2735 2839 3140 3245 3451 3555 38

Unpaired t-test Results:

P value and statistical significance: The two-tailed P value = 0.0447 which means P value: ≤ 0.05 so it is Significant.

Confidence interval:  The mean of Group 1 (Male) minus Group 2 (Female) equals 7.50  95% confidence interval of this difference: From 0.20 to 14.80. 

Intermediate values used in calculations:  t (Calculated Value) = 2.1574  Degrees of Freedom (df) = 18  Standard Error of Difference = 3.476 

Calculation of table value of t-test:

Degrees of Freedom df = 18

Level of Significance (Alpha) = 0.05 %

Standard Error of Difference = 3.476

t (table value) = 1.734

Group Statistics

Interpretation:

Since t (Calculated Value) = 2.1574 is greater than t(table value) = 1.734, null hypothesis is rejected.

So, we can conclude that there is a significant difference between gender and the way of searching property by real estate agent.

Therefore, Alternative Hypothesis is accepted.

Group Group 1 (Male) Group 2 (Female)Mean 37.80 30.30

Standard Deviation (SD)

10.09 4.37

Standard Error Mean(SEM)

3.19 1.38

N 10 10

Chapter: 5 RESULTS OR FINDINGS

1. The demographic results are as follows:

+ Male = 59 Female = 41

+ Married = 55 Unmarried = 45

+ Employment Levels: Govt. Employees = 24 Private Job = 65

Business = 11

+ Up to 12th = 5, Graduation = 56, Post-graduation = 35 & other = 4

+ Age (25-31) = 47, (32-38) = 22, (39-45) = 15, (46-52) = 10, & (>52) = 6.

2. 20% of total respondents have not heard about property websites.

3. 26% of total respondents actually know about property websites but yet not used it.

4. 45% of total respondents are not using property portals.

5. 55% respondents likes to visit real construction sites for property.

Chapter: 5 RESULTS OR FINDINGS (Cont’d)

6. 70% respondents likes property portals to search property, buying and selling of it.

7. 53% respondents obtained property information via news-paper advertisements.

8. 80% respondents are unaware about current real estate property prices.

9. For 60% respondents location is very much important.

10. News paper advertisements is most frequently noticed.

11. For 34% respondents suggestions from friends & family matters a lot in home accessories buying process.

12. 77% respondents believes price plays very important role in buying decision of home accessories.

13. 86% respondents believes quality is very important.

Chapter: 6 SUGGESTIONS OR CONCLUSIONS

1. Since customers are unaware about property web-portals, it is suggested to create customer awareness about property web-portals and property websites.

2. Advertisements and promotion of core services of company are utmost need to attract the customers.

3. Print media and social media advertisements should be done.

4. It is suggested that company should give High quality housing solutions and home accessories requirements with

affordable price. 

Chapter: 7 REFERENCES OR BIBLIOGRAPHY

(A) Web Resources:

[1] Rookes, P., Willson, J.: Perception. Theory development and organisation. London and New York : Routledge, 2007, 13-38.

[2] AJZEN, I., 1985. From intentions to actions: a theory of planned behavior. In: J. KUHL AND J. BECKMAN, eds. Action-control: From Cognition to Behaviour. Heidelberg: Springer, 11-39.

[3] Snyder, M., & Cunningham, M. R. (1975). To comply or not comply: testing the self-perception explanation of the foot-in-the-door phenomenon. Journal of Personality and Social Psychology, 31, 64–67.

[4] Ajzen, I. and Fishbein, M., Understanding Attitude and Predicting Social Behavior. Prentice-Hall, Englewood Cliffs, NJ, 1980.

[5] Matlin, M.: Cognition. John Wiley and Sons, Inc. 2005, 44-52.

[6] Eysenck, M. W., Keane, M.T.: Cognitive psychology. Psychology Press 2010, 121-152.

[7] http://helpsme.com/articles/marketing/marketing-strategies-service-businesses

[6] Website of Women Planet: http://womenpla.net/

(B) Book Resources:

[1] Business Research Methods, 12th Edition by Donald R. Cooper, Pamela S. Schindler.

[2] Research Methodology (Methods & Techniques), second edition by Kothari C.R.

[3] The Official brochure of Property Planet Company.