Brand Image and Its Effects on Consumer Purchase

7/31/2019 Brand Image and Its Effects on Consumer Purchase

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Introduction

Brand a powerful

Add values to the products

True brand fulfills the real or perceived needsof customers


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Background information of Real estate industry

presently worth $75 billion

growing at the rate of 30 % per annum

second largest employer

Rs.1 invested in real estate sector results in 78 paisabeing added to GDP

80% share of the real estate market is garnered byresidential sector

the Government of India set up the HUDCO to finance

housing and urban infrastructure 100 per cent FDI in housing through integrated

township development


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Indian cities are normally categorized into three tiers:

Tier I comprises the Delhi, Mumbai and

Bangalore

Tier II consists of Hyderabad, Pune and

Chennai

Tier iii cities are Ahmedabad, Jaipur, Surat,

Nagpur


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RESIDENTIAL REAL ESTATE

Growth drivers for Residential estate:

Changing demographics

employment opportunities people in the earning age bracket (25 to 44

year olds) and higher salaries

increasing disposable incomes IT and Its


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COMMERCIAL REAL ESTATE

human resources with necessary skill

competitive business environments

operating cost urban infrastructure


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Commercial locations in India

Mature

Destinations In transition

Emerging

The commercial property market has been

growing at an annual rate of approximately30% over the past eight years


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Need and Significance of the Study

To monitor the impact of brand on the

performance, efficiency and profitability


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Objectives of the Study

Examining the impacts of branding on the real

estate firm

current situation of builders and developers

respect to spending on brands


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Brand :Does it stand for something

Lodha- Property with luxury

Magarpatta- famous township and resident

Of many company


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Factors are considered while purchasing residential

properties

53.33% Respondents consider completed project/Reputation of builder it

indicates the importance of Branding

63.33% Respondent consider cost (Rate) which indicates the Builders reputation,

location, market price

66.66% Respondent consider location

0

20


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Recall

Kalpataru recall rate is 80%

Nyti recall rate 66.67%

Shreemanyogi recall 13.33%

SSD developers has 20% recall

0

5

10

15

20

25

30

Nyti Kalpataru Sreemanyogi SSD

developer


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How much rate (price) of branded properties is

ideal?

2%-5%

8%

5%-8%

39%

8%-10%

38%

More than 10%

15%


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Ranking Of factors

Location

Construction quality

Price Brand name


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Comment on well known brand

properties v/s unknown

Quality of construction

Rates are high

amenities commitments


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Recommendations

Real Estate Company should spend 2-3% on branding and marketing

builders should kept their promises and should give possession on time,approve project from legal bodies and quality of construction up to thestandards.

location is very important aspect so, if you have presence in primelocation brand it helps to enhance brand image

Instead of creating just devolve building creates a landmark it not justincrease visibility but it helps to generate WOM

Configuration should be proper so different class of people will remainseparate. It would be better for the brand prospective and customerscomfort prospective.

Documents

Brand Image and Its Effects on Consumer Purchase