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Customer satisfaction towards services provided by hih realty


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research paper on Customer satisfaction towards services provided by hih realty

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Customer satisfaction towards services provided by hih realty

  2. 2. 2 DECLARATION I, Pratima Nivrutti Patil student of Masters of Management Studies (Semester III) of Babasaheb Gawde Institute of Management Studies (BGIMS), hereby declare that I have successfully completed this project on “A STUDY ON CUSTOMER SATISFACTION TOWARDS SERVICES PROVIDED BY HIH REALTY” as a part of my ‘Summer Internship’. The information incorporated in this project is true and original to the best of my knowledge. Signature
  3. 3. 3 ACKNOWLEDGEMENT I would like to express my gratitude and sincere thanks to Mr.Tushar Manik , Co-Founder and Chief Marketing Officer of HIH Realty Pvt.Ltd, for giving me this opportunity and for instilling confidence in me to carry out this study and extending valuable guidance and encouragement from time to time, without which it would not have been possible to undertake and complete this project. I also wish to extend my appreciation to others who have contributed towards this project through their feedback and comments to complete the findings and report. I would also like to thank Mr. Sunil Karve, Director, Maratha Mandir’s Babasaheb Gawde Institute of Management Studies, for his continuous support, encouragement and support. I would also like to thank my parents and others, who have stood by me whenever needed, and without whose support this task would not have been accomplished.
  4. 4. 4 CONTENTS EXECUTIVE SUMMARY ……………………………………...……… 5 INTRODUCTION …………………………………………….…...…… 6  India’s Real Estate Sector……………………………...………..…… 6-17  Company Profile…………………………………………..…………… 18-29  Customer Satisfaction…………………………………..……….…….. 30-39  Literature Review…………………………………………….…..…….. 40 OBJECTIVES OF THE STUDY ……………………………………...... 41 SCOPE OF THE STUDY …………………………………..…...………. 42 RESEARCHAND METHODOLOGY …………………….…...………. 43  Research Design……………………………………...………………… 43  Sample Size ……………………………………………...……………… 44  Data collection ………………………..…………………..……………. 45  Statistical Tool…………………………………………………..…….... 46 DATA ANALYSIS …………………………..…………………….……. 47-61 FINDINGS ………………………….……..……………………………. 62-64 LIMITATIONS ……………………………..…………………………… 65 CONCLUSION ……………………….……………………..………….. 66 SUGGETIONS……………………………………………….…………. 67-71 RECCOMENDATIONS…………….……………..……………………. 72-73 BIBLIOGRAPHY …………………………………………...….....……. 74 ANNEXURE…………………………………………….…………….... 75-78
  5. 5. 5 EXECUTIVE SUMMARY The aim of the study is to understand the level of customer satisfaction towards the services provided by Home India Home Realty Pvt. Ltd. This study will help us to get a better picture as to what customers perceive about companies services and their awareness about the same. The project incorporates taking feedback from already booked customer„s to know their satisfaction level towards services provided by company. The sample was decided based on simple random sampling method. The responses were recorded by conducting a survey with the help of a questionnaire. The questionnaire has been designed in such a way so as to bring out the most accurate data, which will enable the study to get the closest vicinity of its objectives. The data collected from the survey has been appropriately analyzed and has been interpreted in a meaningful way to offer some suggestions and recommendations on improving performance.
  6. 6. 6 INTRODUCTION INDIA’S REAL ESTATE SECTOR Overview While India continues to be one of the fastest growing economies, this pace of growth is unlikely to sustain unless it is supported by an equally robust development of its infrastructure. Key requirements in order to achieve a GDP growth rate exceeding 8-9% include roads, power, ports as well as urban infrastructure. The last couple of budgets have taken steps in the right direction for growth of the sector. An allocation of Rs. 200 billion towards infrastructure projects under the 2011 budget is an attempt to achieve the Governments target for growth of Infrastructure under the Eleventh Plan. India will have around 27 to 30 million shortages of housing units by 2013 and for this; huge amount is required to carry on the development. Slowdown in the global economy along with consistent increase in policy rates by the Reserve Bank of India (RBI) finally seems to be impacting the domestic economy with the GDP growth cooling down since past few quarters. The GDP growth recorded during first quarter of financial year 2012 has slowed down to 7.7percent as against 9.3 per cent during first quarter of financial year 2011.Even the projected GDP growth for financial year 2012 has been revised downward to 7.9 per cent from 8.2 percent by the RBI. The real estate sector in India is being recognized as an infrastructure service that is driving the economic growth engine of the country. In fact, Foreign Direct Investment (FDI) in the sector is expected to increase to US$ 25 billion in the next 10 years, from present US$ 4 billion. The country's urban population will soar to 590 million by 2030,
  7. 7. 7 from 340 million in 2008.India's cities could generate 70 percent of the net new jobs created by 2030, produce more than70 percent of the country's Gross Domestic Product (GDP), and stimulate a near four-fold increase in per capita income. It also says that India needs to invest US$ 1.2 trillion over next 20years to modernize urban infrastructure and keep pace with the growing urbanization. Non-resident Indians and foreign citizens who are Persons of Indian Origin (PIO) are allowed to purchase immoveable property in India. Residential property prices have stabilized now and are deemed attractive for the NRI home buyer. Industry experts feel that with attractive pricing and innovation in construction technology and variety of designs, NRIs are taking a fresh look at India as a unique market in which they can invest. Introduction Real Estate business was one of the key drivers of growth before we witnessed the present economic slowdown. Now, with companies trying to consolidate their positions and finding effective means of sustaining growth, the management of real estate has emerged as one of the key challenges for the corporate sector. The largest occupier of office space in the country has been the Information Technology/ Information Technology enabled Services (IT/ ITeS) segment, which primarily serves the US and European markets. The economic slowdown in these markets have resulted in increasing pressures on the margins of companies operating out of India, which in turn has led to the companies looking to cut costs through reducing expenditure on the real estate segment. The real estate sector in India assumed greater prominence with the liberalization of the
  8. 8. 8 economy, as the consequent increase in business opportunities and labour migration led to rising demand for commercial and housing space. At present, the real estate and construction sectors are playing a crucial role in the overall development of India‟s core infrastructure. The real estate industry‟s growth is linked to developments in the retail, hospitality and entertainment (hotels, resorts, cinema theatres) industries, economic services (hospitals, schools) and information technology (IT)-enabled services (like call centers) etc and vice versa. The Indian real estate sector has traditionally been dominated by a number of small regional players with relatively low levels of expertise and/or financial resources. Historically, the sector has not benefited from institutional capital; instead, it has traditionally tapped high net-worth individuals and other informal sources of financing, which has led to low levels of transparency. This scenario underwent a change with in line with the sector‟s growth, and as of today, the real estate industry‟s dynamics reflect consumers‟ expectations of higher quality with India‟s increasing integration with the global economy. Present Scenario of Real Estate Currently, about 5 per cent of India‟s GDP is contributed by the housing sector. The GDP share of the real estate sector (including ownership of dwellings) along with business services was 10.6per cent in 2010-11. After growing at 10.4 per cent in 2008-09, the rate of growth of this sector has decelerated to 7.8 per cent in 2009-10 and further to 6.9 per cent in 2010-11. Estimates show that for every rupee that is invested in housing and construction, 0.78 paisa gets added to GDP.
  9. 9. 9 Housing ranks fourth in terms of the multiplier effect on the economy and third amongst 14 major industries in terms of total linkage effect according to Economic Survey 2011- 12.Demand for real estate is expected to grow at a compound annual growth rate (CAGR) of 19percent between 2010 and 2014 Tier 1 metropolitan cities are projected to account for about 40percent of this. Growing requirements of space from sectors such as education, healthcare and tourism provide opportunities in the real estate sector. With institutional credit for housing investment growing at a CAGR of about 18 to 20 per cent per annum in the next three-five years, the housing sector‟s contribution to GDP is likely to increase to 6 per cent. While India is among the top countries in terms of housing and work space needs, it ranks 181st in construction permission processes according to the World Bank‟s Doing Business 2012 report.
  10. 10. 10 REAL ESTATE MARKET Real Estate Market Size Activities in the real estate sector may broadly be classified into residential, commercial and the retail segment and hotels. The size in terms of total economic value of real estate development activity of the Indian real estate market is currently US$40-45bn (5-6% of GDP) of which residential forms the major chunk with 90-95% of the market, commercial segment is distant second with 4-5% of the market and organized retail with 1% of the market. Over next 5 years, Indian real estate market is expected to grow at a CAGR of 20%, driven by 18-19% growth in residential real estate, 55-60% in retail real estate, and 20-22% in commercial real estate. Market Segment In recent years, the Industry has evolved from a highly fragmented and unorganized Market into a Semi-organized Market. The sector can be divided into residential, commercial, retail and hospitality asset classes. 1. Commercial Sector The commercial office space in India has evolved significantly in the past 10 years due to change in business environment. The growth of commercial real estate has been driven largely by service sectors, especially IT-ITeS. However, with the emergence of IT-ITeS, which had huge office space requirement, commercial development started moving towards city suburbs. It resulted in multifold development of city outskirts and suburbs like Gurgaon near New Delhi, Bandra and Malad in Mumbai, and the Electronic city in Bangaluru. In addition, over the last 10years, locations such as Bengaluru, Gurgaon,
  11. 11. 11 Hyderabad, Chennai, Kolkata and Pune have established themselves as emerging destinations for commercial development, which are competing with traditional business destinations such as Mumbai and Delhi. Tax sops on the profits of IT-ITeS companies also led to stupendous development of IT Parks and SEZs. However, the demand for office space is directly linked to addition in number of employees, which in turn is dependent on economic growth. When economy slows down, companies hold their expansion plans leading to lower demand for office space. Downturn in the commercial real estate market in India, which had commenced during the second half of 2008, continued during the second half of 2009. The sustained decline was largely the result of postponement of expansion plans by corporate, which adversely impacted demand for office space. IT/ITeS, which had been a major demand driver for the sector in the last 2 years, increased utilization rates of existing commercial space by increasing the number of shifts. 2. Residential Sector in Real Estate Residential demand is the mainstay of the Indian real estate sector. The major demand drivers for the residential market include increasing disposable income levels, increase in the number of nuclear families / households, tax savings on home mortgage products as well as real estate being considered a “necessary” investment. Demand for houses increased considerably whilst supply of houses could not keep pace with demand thereby leading to a steep rise in residential capital values especially in urban areas. Broadly, residential real estate industry can be divided into four growth phases:- Phase I (2001-2005) was an initial growth phase with stabilizing residential real estate
  12. 12. 12 prices following the global recovery post the “dot com” bust and 9/11 terrorist attacks in New York. At the same time, there was steady growth in Indian economic activity, noteworthy recovery in IT/ITES industry, growing urbanization and a rising trend towards nuclear families. Phase II (2006-2008) was a high growth phase where high demand for residential real estate led to doubling of housing prices. Demand rapidly increased due to India‟s growing population, accentuated urbanization, rising disposable incomes, rapidly growing middle class and youth population, low interest rates, fiscal incentives on interest and principal payment for housing loans and heightened customer expectations. Phase III (2009-2010) witnessed substantial slowdown and part recovery in demand because of the global economic downturn, which led to a decline in affordability and tight liquidity. The retreat of various real estate investors, accompanied by slowdown in the capital markets, has resulted in over supply and falling prices. Phase IV (2011-2014) is expected to remain a consolidation phase after slowdown. Demand is expected to remain strong with capital values witnessing modest rise. This period is expected to witness substantial supply of housing especially in urban areas. In spite of the stupendous growth witnessed in the past 10 years, substantial housing shortage is still prevalent in India. The housing shortage in India is estimated at 78.7million units at the end of Phase II. The overall housing shortage in India is likely to decline to 75.5 million units by the end of Phase IV. However, housing shortage in urban areas will continue to rise owing to migration towards urban areas and increasing trend of nuclear families. Housing shortage in urban areas is estimated at 19.3 million units at the end of 2008, up from 15.1 million units at
  13. 13. 13 the start of 2005. Housing shortage in urban areas is likely to touch a walloping 21.7 million units by the end of 2014. Rural areas, on the other hand, will witness a reduction in housing shortage due to migration and conversion of kutcha houses into pucca houses. The government‟s continuous focus on improving the housing situation, especially for population below poverty line, under schemes like Indira AwaasYojna, Rajeev Gandhi Aawaas Yojna, Two Million Housing Programmers, is expected to reduce housing shortage in rural areas. Rural housing shortage is expected to decline to 53.8 million units by 2013-14 from 59.4 million units at the end of 2008. 3. Retail Real Estate In 2010, India witnessed the addition of more than 5 million sq.ft. of organized retail mall space across various primary and secondary locations. This was concentrated largely in NCR, Mumbai, Bangalore and Chennai and was a consequence of the positive sentiments amongst retailers on spatial expansion and enhancing their footprints across the country. The growth of malls in India has increased to about 59 which comprises of the retail stock. The retail stock share will increase to 36 per cent in the coming years. Results found out through a survey state that the retail market is expected to grow in the coming years. There is an increased development of retail malls which are primarily dominated by the local developers. All the 59malls in the southern & Northern states are either in the stages of construction or are already established. Few of the active project developers in the Southern & Northern region are the Mantri Developers, The Prestige Group, DLF, RMZ Corp and so on. Indian retailers are seeking to implement their expansion plans in
  14. 14. 14 the prime cities as well as select Tier II and Tier III cities. FDI in multi brand real estate, when finally permitted, is expected to catalyze a lot of demand from international retailers. That said, international luxury brands will restrict their growth plans to Mumbai, Delhi and Bangalore. 4. Hospitality Real Estate India‟s hospitality industry has enjoyed robust growth over the past few years buoyed by a benign economic and political environment. Increase in domestic, business and leisure travel has benefited hotels in India. Rising incomes, higher weekend trips and increased access to travel-related information over the Internet have propelled growth in hospitality. Premium segment hotels are more prominent in major business destinations in India and are dominant in popular tourist destinations like Goa, which attracts a lot of foreign clientele. In 2010, the industry saw only five private equity deals with a cumulative value of $ 1 56 million. By 2011, the amount grew to $299 million and during the first five months of 2012, hospitality industry has raised $121 million from private equity. A few years back the industry was polarized between large five star hotels and small lodges. Now, both domestic hotel chains and international brands are queuing up with several categories of hotels to cater to different travelers in the value chain and that is why the demand for real estate properties in India are increasing. Private equity players are also keen on budget, mid-sized hotels that work on an asset light model than the asset heavy models that take longer time to become profitable. The entry of several global brands to fill the demand-supply gap has triggered private equity interest in the industry.
  15. 15. 15 5. Special Economic Zone (SEZ) The Government of India introduced the SEZ Act, 2005, to generate additional economic activity, promote exports and create employment opportunities in the country. Developing an SEZ is approximately 15 to 20percent cheaper than developing non-SEZ commercial space; given the various fiscal benefits available to SEZ developers several real estate developers have been attracted to these projects. Under the new SEZ Policy, formal approvals have been granted to 574 SEZ proposals as of March, 2010.As of March 2010, there were 350 notified SEZs and 146 have received in-principle approval. The SEZ Policy allows usage of as high as 50 percent of the SEZ area as non-processing zone, offering significant potential for residential and support infrastructure.
  16. 16. 16 POLICY INITIATIVES Investment Policy The Government has proposed one per cent TDS (tax deduction at source) on transfer of immovable property if the sale value exceeds Rs 50 lakh in urban centers and Rs 20 lakh in other areas in the Union Budget 2012-13. The Reserve Bank of India (RBI) has granted permission to foreign citizens of Indian origin to purchase property in India for residential or commercial purposes. The purchase consideration should be met either out of inward remittances in foreign exchange through normal banking channels or out of funds from NRE/FCNR accounts maintained with a bank in India. According to the latest reforms, FDI up to 100 per cent under the automatic route in townships, housing, built-up infrastructure and construction-development projects (which would include, but not be restricted to, housing, commercial premises, hotels, resorts, hospitals, educational institutions, recreational facilities, city and regional level infrastructure) is allowed subject to the following guidelines (also for investment by NRIs)The project shall conform to the norms and standards, including land use requirements and provision of community amenities and common facilities, as laid down in the applicable building control regulations, bye-laws, rules, and other regulations of the State Government/Municipal/ Local Body concerned. The investor/ investee company shall be responsible for obtaining all necessary approvals, including those of the building/layout plans, developing internal and peripheral areas and other infrastructure facilities, payment of development, external development and other charges and complying with all other requirements as prescribed under applicable rules/ bye-laws/regulations of the State Government/ Municipal/ Local
  17. 17. 17 Body concerned. The State Government/ Municipal/ Local Body concerned, which approves the building/development plans, would monitor compliance of the above conditions by the developer. Investment Opportunities Real estate emerged as the popular sector for private equity (PE) funds, which witnessed investments worth US$ 1,700 million in the sector during 2011. PE in real estate projects will fetch considerable returns by next year-end or early 2013. Limited partners (who write cheque for funds) expect 15-25% returns from real estate deals. Foreign investors are optimistic about India. All they want is prompt action and friendly policies.
  18. 18. 18 COMPANY PROFILE ABOUT COMPANY Home India Home Realty Pvt.Ltd is an organization offering the customers in the residential real estate sector a true value for their money. This company assists them in making an informed decision by bringing forth an array of suitable choices to their disposal by partnering with the best-in-class developers. Company gives them the best offers and much more at No service charge. Established in 2009, HIH Realty Private Limited has grown from an employee base of 2 to 40 employees currently. This company is a growing organization committed to deliver excellence in all their endeavours. Home India Home is the brainchild of two young, vibrant and budding entrepreneurs from the Computer Engineering Stream of Watumull College. It was started off to revolutionize the Real Estate Advisory Business and to organize the currently unorganized Real Estate Sector in India by bringing in a more professional and innovative approach coupled with the right technological backing. Being run by a team of young and dynamic people, everyone is ambitious and charged to make larger than imagined. The Founders scout for talents in the organization through continuous performance assessment tools and qualitative metrics. The selected employee has the option of getting personal mentorship from the founders under the V-NurTure Program.
  19. 19. 19 COMPANIES VISION Company seeks to become a world class, professional real estate organization that bridges perfect transactions between the developers and the consumers. By 2015, company aspires to complete 25,000 delightful transactions. COMPANIES MISSION To bring delight to every stakeholder and build lifelong relationships with: Employees: To provide a nurturing workplace and opportunities for developing to their full potential. Developers: To provide the support of our talented workforce to enable the best-in-class to reach their desired customers. Customers: To provide an assuring hand at every juncture and to assist them in making an informed choice. Investors: To build a growing, sustainable and profitable enterprise through concerted and focused efforts.
  20. 20. 20 COMPANIES VALUES People first: Company values their employees who in turn treat their customers like their own family members. Company puts their people first, nurture them and assist them in giving the customers the best service. Integrity: Company delivers all their services with utmost integrity and transparency. All their dealings bear the seal of trust and the promise of a brand name promoted via word-of mouth by their own customers. Commitment: Company values commitment as the way of life in their organization. Company is committed to deliver their customers unparalleled service standards in the industry. Leadership: Company cultivate ethos that promote leadership qualities in our team. Employees are encouraged to share their views and opinions on matters concerning them and our organization. Excellence: Company strives for excellence in all the services that they offer to their customers. Excellence in the organization is manifested by the continuous improvement through focus on training and nurturing talents.
  21. 21. 21 Innovation: Company promotes innovation by encouraging flow of ideas and exchange of thoughts in an interactive milieu aimed towards self-development of the individuals in the organization. WHY IS HOMEINDIAHOME DIFFERENT FROM OTHERS? Company has a strong presence across Mumbai. Company has a very well cultured team of professionals. Company helps their customers in booking their Dream Home. All the services to their customers are Free of Cost. Company is transparent in all their dealing. They also assist in Home Loans. Company believes in Technology. Company‟s portal makes property search very easy for their customers. CULTURE AT HOMEINDIAHOME Company follows open door policy. Company has flat hierarchy. Company has a team of dynamic people; so they are very rich with new ideas, young Blood, Enthusiastic work approach. HIH believes in Mutual and inclusive growth with all our stake-holders.
  22. 22. 22 Strong believers and followers of our values and a famous quote “All work and no play make Jack a Dull Boy”. Liberal work environment. Services provided by Customer Support Associate Providing property advice to Customers, giving them presentations about Site Investments & advantages of the location. Sales of various new residential Projects. Taking the customers to the actual sites; thus maintaining relations with customers and maintaining integrity. Closing the deal and making final negotiations with the customer. Maintaining systematic records of all the customer interactions. Focusing on After Sales Client Relationship. Ensuring the necessary paperwork and documentations. Assisting in Home Loans and financial Planning. Pro-actively contributing to Sales Strategy, Design and Implementation. Services provided by Relationship Manager Receiving leads from the marketing department and making follow-up calls to the prospective customers. Pitching for various residential projects and negotiating site visit details. Maintenance of records of customer details and preferences. Face-to-face off-site meetings with the prospective customers.
  23. 23. 23 Taking clients for on-site visits, explaining project details and showing sample flats. Negotiating with the customer and closure of the deal. Providing after sales service if any. Tracking & reporting of all pending and closed business operations in assigned database. Maintenance of records of customer sales interviews and adoption situations in assigned database. Follow-up of the leads provided by the marketing department. E-mail and SMS correspondence with the prospective customers. Taking a note of the personal details of the customer, his/her financing options, purpose of investment, etc and advising the customer accordingly.
  24. 24. 24 MAJOR CLIENTS OF COMPANY Lodha Group Established in 1980, the Lodha Group is Mumbai's premier real estate developer. The Group is currently developing in excess of 35 million sq.ft of prime real estate, with over 30 projects in and around Mumbai, from Nepean Sea Road to Dombivali. The Group has further extended its promise of luxury living with successful projects in Hyderabad and Pune. The Lodha Group has several landmark developments to its credit, including World One - the world's tallest residential tower, Lodha Bellissimo - the only Indian residential development to feature amongst the top 1000 landscapes in the world, and Palava – India's most livable city, spread over 4000 acres and located close to the upcoming Navi Mumbai international airport. The Group has also made history by recording the biggest land deal in India till date, buying a plot in Wadala for Rs.4,053 crore, from the Mumbai Metropolitan Region Development Authority (MMRDA). Pioneering new trends in the market, the Group introduced CASA by Lodha, offering the mid-income consumer luxury homes within easy reach. The Group also introduced the concept of branded office spaces, with offerings at every level, from world-class corporate offices to large-scale office campuses to signature boutique offices for growing businesses. The Group's tremendous success has been marked by financial investments from the finest global investors, including JP Morgan, Deutsche Bank, HDFC Ventures and ICICI Ventures and State Bank of India.
  25. 25. 25 The Group currently employs over 3100 associates and provides site-based employment to over 25,000 workers. And going beyond its role as a premier real estate developer, the Lodha Group has been a socially responsible corporate, focusing on education as the best medium to enrich society. Hiranandani Developers Hiranandani has continually pioneered newer technologies, bold design and precision engineering to create landmark residential townships and commercial complexes. Propelled by the drive to change expectations and the lifestyle of people thus changing the skyline of the city, Hiranandani has ushered in an era marked by higher standards of living and global lifestyles. With its far sightedness to spot the shifting societal trends, Hiranandani is today a leading real estate group in its flagship business of construction with a pan – India as well as international presence. The Group is known for its projects of Hiranandani Gardens, Powai, Hiranandani Meadows, Thane, Hiranandani Estate, Thane, Hiranandani Business Park Powai & Thane. Puraniks Group Puranik values are instrumental in making the company a trustworthy corporation. As leaders in real estate, the company firmly believes in value-for-money and transparent deals with strict adherence to timelines and budget estimates. All this has made us a trusted name. Puranik Builders has successfully built over 4 million square feet of
  26. 26. 26 property and has won over 4,000 families who happily reside in homes built by us. And these numbers continue to grow each day. Currently, Puranik Builders owns a land bank of 300 plus acres and is progressively expanding its area of business into wider territories across India. Our ventures include ongoing and upcoming residential properties in prime areas of Mulund, Thane, Dombivali, Neral, Pune, Nashik, Kalyan and Lonavala. Our future endeavors comprise of a range of realty projects, namely residential, commercial, retail, IT Parks and row houses. Happy Home Group Over the last 30 years, Happy Home Group has delivered more than 15 lakh square feet of residential and commercial projects, redefining lives and enriching lifestyles of the people. Its portfolio of ongoing projects spreads over one million square feet, with 500 saleable units available in premium, up-market locations of Bandra, Dadar-Matunga and Mulund. Being the pioneers of property redevelopment and experts in open land development projects, the Group has laid a solid foundation for setting new milestones in the real estate redevelopment sector in Mumbai. Happy Home Group has carved for themselves, a niche in the real estate redevelopment projects. The Group has earned the trust and confidence land owners, societies and flat purchasers by their excellent track record in executed prestigious residential and commercial landmarks which adorn the skyline of Mumbai and its suburbs.
  27. 27. 27 Progressive Group Since its inception Progressive Group it has steadily built itself on the trust that its customers have placed in it. The successful and timely completion of past projects has further strengthened this trust. Over the past years, Progressive Group has achieved success and growth by creating an environment of integrity and fair practices. Our work is at par with international standards and has fetched us a number of national awards for quality and timely completion. Our buildings occupy prime locations, which are easily accessible by road and rail. They are also well connected to educational institutes, hospitals and shopping centers. Progressive Group is also the first builder in Navi Mumbai to be selected by HDFC to be promoted in India and abroad. We believe that a company gets its edge over competition by the services that it has to offer. All our projects are price competent and free from price escalation. We have also tied up with several financial companies to offer our customers housing loans, which are easy to repay. We believe in bringing to our customers not houses but homes. Galaxy Group The Galaxy Group is catering to the ever increasing need for quality housing and commercial properties since 1995. What started out as a startup with just a few employees has since grown into a group that now employees 100+ people and offers a portfolio of residential and commercial properties from Rs.10 lacs to Rs. 1.5 crores and beyond. Developed 26 residential/commercial construction projects consisting of 2639 units covering approximate land area of 6.00 lakh sq.mts. The group has completed 15 residential/commercial projects consisting of 1256 units and 11 residential/commercial
  28. 28. 28 projects consisting of 1383 units in various stages of implementations. The group has contributed to Government projects like 76 km Sardar Patel Ring Road around Ahmadabad (Developed by Urban Development Authority) – Project cost of Rs.25 crore) and the prestigious Sujulam Sufalam irrigation project of Government of Gujarat. Experience in construction of public roads as Government Contractor registered in „A‟ Class, one of the highest classes. Sai Developers Group Ever since its inception in 1994, Sai Developers has believed that success & opportunity come through the people it serves. We have constantly & relentlessly focused on creating a more fulfilling experience for our customers. Today our efforts bear fruit & our name rhymes with commitment to quality, reliability, integrity & excellence in architecture. Sai Developers believes in delivering best-in-class projects that cater to our customer's requirements in terms of quality, space utilization, location, safety & timely completion - 97% of the projects are completed on or before time. Today, Sai Developers is highly regarded for our transparency, commitment, integrity & honesty, marking standard for quality and flawless execution of projects. Juhi Developers Juhi Developers provides the most loyal and dedicated service in the Real Estate Industry. Client‟s satisfaction is our foremost concern and we implement this dedication towards building a long term client relationship. We are a team of committed professionals. Our approach always ensures that every client is important to us.
  29. 29. 29 Juhi Developers bring to each of our projects, Technological and Engineering excellence coupled with comfort and convenience that transcends conventional norms and sets the paradigm for quality and perfection in the current real estate scenario. With a Glorious Clientele, Network of Investors & Financers, Efficient Supply Chain and Banker Relations, we are set to achieve newer benchmarks in Real Estate industry. Building at strategic locations which derive real value both in terms of returns and comfort, Juhi Developers have earned a reputation for quality construction and inspiring design. Projects that stand testimony to their reputation are spread over Navi Mumbai. Cidco has extended hand for development of Navi Mumbai. In 80‟s it was still a time when most people had not awoken to the idea of new township on the other tail of Thane Creek Bridge. It was the time when even the bridge was not yet electrified. CIDCO was fast acquiring and developing vast stretches of land in Vashi, Nerul, Airoli, Kalamboli, NewPanvelto set in motion a process that was to have a snow-balling effect.
  30. 30. 30 CUSTOMER SATISFACTION Why Organizations Focus on Customer Satisfaction Businesses monitor customer satisfaction in order to determine how to increase their customer base, customer loyalty, revenue, profits, market share and survival. Although greater profit is the primary driver, exemplary businesses focus on the customer and his/her experience with the organization. They work to make their customers happy and see customer satisfaction as the key to survival and profit. Customer satisfaction in turn hinges on the quality and effects of their experiences and the goods or services they receive. Customer satisfaction A company should always try to keep every customer happy. It is not enough getting the offered product right, there is so much more to customer satisfaction than the actual core product. Loyal customers that keep coming back bring a lot of revenue to a company with their repeat business. Even if you market your company in a way that a lot of new people come to check the business out and spend some money, a lot of work still needs to be put down on the customer service etc to make the customers keep coming back. A satisfied customer is either a customer that gets what he expected or that gets his expectations exceeded. The more customers a company can send away positively amazed the better. Customers that get their expectations exceeded are usually happy spreading the word about what great service they have received. This also works the other way around, if a customer leaves unhappy, he will not hesitate to voice his negative opinion and this might scare off possible future customers.
  31. 31. 31 Sometimes however it can be enough to keep customers within the zone of tolerance. The zone of tolerance means that the customer gets good enough service to be fairly satisfied. The zone of tolerance lies between what kind of service the customer actually wants and what he is willing to accept. When a customer is within the zone of tolerance he rarely goes out deliberately searching for a new service provider. However, if a customer like this stumbles upon a better offer, he might not be so faithful. Measuring customer satisfaction A company should always try to keep up with what is going on with their customers and in order to do that, research must be done every now and then. It is easy for a company to assume they know what their customers want, but what the customer wants and what the company thinks that the customers want can be very different at times. Measuring customer satisfaction can help make great improvements in the company. It is good to try to find out both current needs and future needs as these always keep changing. A company should always remember not to make too big promises. It is always better to under market a bit in order not to fail the customer and to have a great chance to create an actual wow-experience for the customer, instead of making empty promises. Different methods of doing a customer satisfaction research There are many ways to measure customer satisfaction. You can study customer satisfaction by gathering either secondary or primary data. Secondary data is information that you can get from e.g. libraries or the government. A company can also have secondary data themselves if they have kept some information about their customers or
  32. 32. 32 they have made some previous studies. Primary data is a lot more time-consuming as it is done by collecting new information about a certain field through e.g. conducting interviews, making people fill out questionnaires or through making observations. To best measure customer satisfaction it is good to have both secondary and primary data. When collecting primary data there are two different techniques that can be used. Primary data can be collected by either doing qualitative or quantitative research. When doing qualitative research you do not study a large number of customers, instead you concentrate on getting as much information as possible from a smaller 16number of customers. In-depth interviews face to face or by telephone can be used for qualitative research. It is good to have some kind of a structure of what to ask the customer, but here you also have the chance to react to the answers and ask the customer to elaborate on his comments, leading into more insight. When quantitative research is being carried out it is good to follow at least 50people in order to get a reliable and realistic result. This kind of research is usually done with the help of a questionnaire that can be left to fill out at a restaurant for example, it can be mailed or e-mailed to customers, you can phone customers and interview them or you can walk up to people asking them the questions and ticking their answers. Designing a questionnaire When designing a questionnaire there are many things to keep in mind. If a questionnaire is too long, too complicated or too boring, the customer might just fill it out without even thinking to get it over and done with. If a question is too long and complicated it might be misunderstood and therefore answered incorrectly. The questions should be easy to
  33. 33. 33 follow and in a logical order. A questionnaire should always start with the simplest questions for an easy start. Some questions might also be a bit sensitive for some people and extra-attention should be paid to the forming of these questions so that the respondent does not feel the need to lie just to avoid feeling embarrassed. A poorly done questionnaire can end up just giving wrong information instead of helping the company. A questionnaire should not be too long, but sometimes asking two or three questions instead of one is better. This is in the case of a complicated or ambiguous question. Confusing the respondents should be avoided as much as possible. A questionnaire should also be done in a way that it does not lead the respondents to give a certain answer. Routing, meaning that depending on an answer you move on to another segment, should be used carefully in 17questionnaires as they can easily be confusing. Questions can either be open or closed and both types can be used in the same questionnaire. An open question gives the respondent the chance to answer in his own words and a questionnaire like this reminds a bit of a conversation. This method can bring more details, but open questions require more effort from the respondent and can risk being poorly answered or end up simply not answered at all. Open questions should preferably be placed at the end of the questionnaire if there is a use of both open and closed questions. This helps the customer to first warm-up a bit to the subject before moving on to trickier questions. Questions that can only be answered “yes”, “no‟ or “I don‟t know‟ are closed questions. Closed questions are also the kind that has ready-made suggestions and where you simply tick the right answer. Usually you can only tick one answer, but there are also
  34. 34. 34 questions where you can choose several options. This has to be clearly indicated in the questionnaire. These are the kind of questions that could not start a real conversation. Closed questions have the advantage of being fairly easy to analyze. (Brace, 2008, 40) Paper-questionnaires can sometimes have an advantage because of the lack of interviewer. It is easier to be honest with sensitive questions when there is not a person in front of you and the questionnaire is anonymous. A written questionnaire also gives the respondent the chance to take his time thinking about the answers and filling out open- ended questions. There is also the possibility to add pictures if this suit the questionnaire. Disadvantages of a paper-questionnaire might in some cases be that the respondent can read through it before responding and that the respondent has too much time to think about the answers if the questionnaire is actually looking for attitudes and first thoughts. Whether to include an “I don‟t know” option or not in closed questions should be carefully considered. It makes the option an acceptable alternative and many people might end up ticking this alternative as it is the easiest. However, it might be needed at least in some questions, because the respondent might not actually know the 18answer or at all be familiar with what is asked. If this option is not offered the question might be left blank by many respondents. The layout of a questionnaire should be neat. It should be written in a font that is easy to read and the paper should never be too crammed as it makes the questionnaire hard to follow. One should avoid too long questionnaires, but using more papers instead of cramming it all onto one page usually gives a better response rate. The questionnaire should include a presentation or a cover letter of who is doing the research and why if the respondents are made to answer it without an interviewer. If an interviewer is present, he
  35. 35. 35 should explain the aim of the research. This helps give a sense of purpose to the respondents and can help motivate them. A questionnaire should always also include a thank you to the respondents! It is interesting how small details can influence the outcome of a research. If you ask a question like “How do you feel about the food offered on our lunch menu?” and then provide options from excellent to extremely poor or from extremely poor to excellent, this will influence the answers. One could think that it is the same question and the same answers, but people for some reason tend to tick some of the first alternatives, meaning that if you start with the positive, you will get a more positive outcome and vice versa! Once you have the results of a study they need to be analyzed carefully. A well done questionnaire research can give a lot of insight to a company and shed light on problems a company did not know it had. With the help of open ended questions customers can be able to voice different needs that they have that the company was not aware of. Once the analysis has been done the company can start to think about how to address possible faults and how to be able to wow their customers in the future. The usual measures of customer satisfaction involve a survey with a set of statements using a Likert Technique or scale. The customer is asked to evaluate each statement and in term of their perception and expectation of the performance of the organization being measured.
  36. 36. 36 CUSTOMERSATISFACTIONIN7STEPS It's a well known fact that no business can exist without customers. In the business of Website design, it's important to work closely with your customers to make sure the site or system you create for them is as close to their requirements as you can manage. Because it's critical that you form a close working relationship with your client, customer service is of vital importance. What follows are a selection of tips that will make your clients feel valued, wanted and loved. 1. Encourage Face-to-Face Dealings This is the most daunting and downright scary part of interacting with a customer. If you're not used to this sort of thing it can be a pretty nerve-wracking experience. Rest assured, though, it does get easier over time. It's important to meet your customers face to face at least once or even twice during the course of a project. My experience has shown that a client finds it easier to relate to and work with someone they've actually met in person, rather than a voice on the phone or someone typing into an email or messenger program. When you do meet them, be calm, confident and above all, take time to ask them what they need. I believe that if a potential client spends over half the meeting doing the talking, you're well on your way to a sale. 2. Respond to Messages Promptly & Keep Your Clients Informed This goes without saying really. We all know how annoying it is to wait days for a response to an email or phone call. It might not always be practical to deal with all customers' queries within the space of a few hours, but at least email or call them back
  37. 37. 37 and let them know you've received their message and you'll contact them about it as soon as possible. Even if you're not able to solve a problem right away, let the customer know you're working on it. A good example of this is my Web host. They've had some trouble with server hardware which has caused a fair bit of downtime lately. At every step along the way I was emailed and told exactly what was going on, why things were going wrong, and how long it would be before they were working again. They also apologized repeatedly, which was nice. Now if they server had just gone down with no explanation I think I'd have been pretty annoyed and may have moved my business elsewhere. But because they took time to keep me informed, it didn't seem so bad, and I at least knew they were doing something about the problems. That to me is a prime example of customer service. 3. Be Friendly and Approachable A fellow Site Pointer once told me that you can hear a smile through the phone. This is very true. It's very important to be friendly, courteous and to make your clients feel like you're their friend and you're there to help them out. There will be times when you want to beat your clients over the head repeatedly with a blunt object - it happens to all of us. It's vital that you keep a clear head, respond to your clients' wishes as best you can, and at all times remain polite and courteous. 4. Have a Clearly-Defined Customer Service Policy This may not be too important when you're just starting out, but a clearly defined customer service policy is going to save you a lot of time and effort in the long run. If a
  38. 38. 38 customer has a problem, should they contact different people for billing and technical enquiries? If they're not satisfied with any aspect of your customer service, who should they tell? There's nothing more annoying for a client than being passed from person to person, or not knowing who to turn to. Making sure they know exactly what to do at each stage of their enquiry should be of utmost importance. So make sure your customer service policy is present on your site -- and anywhere else it may be useful. 5. Attention to Detail (also known as 'The Little Niceties') Have you ever received a Happy Birthday email or card from a company you were a client. You ever had a personalized sign-up confirmation email for a service that you could tell was typed from scratch. These little niceties can be time consuming and aren't always cost effective, but remember to do them. Even if it's as small as sending a Happy Holidays email to all your customers, it's something. It shows you care; it shows there are real people on the other end of that screen or telephone; and most importantly, it makes the customer feel welcomed, wanted and valued. 6. Anticipate Your Client's Needs & Go Out Of Your Way to Help Them Out Sometimes this is easier said than done! However, achieving this supreme level of understanding with your clients will do wonders for your working relationship Take this as an example: you're working on the front-end for your client's exciting new ecommerce Endeavour. You have all the images, originals and files backed up on your desktop computer and the site is going really well. During a meeting with your client he/she happens to mention a hard-copy brochure their internal marketing people are
  39. 39. 39 developing. As if by magic, a couple of weeks later a CD-ROM arrives on their doorstep complete with high resolution versions of all the images you've used on the site. A note accompanies it which reads: 7. Honor Your Promises It's possible this is the most important point in this article. The simple message: when you promise something, deliver. The most common example here is project delivery dates. Clients don't like to be disappointed. Sometimes, something may not get done, or you might miss a deadline through no fault of your own. Projects can be late, technology can fail and sub-contractors don't always deliver on time. In this case a quick apology and assurance it'll be ready ASAP wouldn't go amiss.
  40. 40. 40 LITERATURE REVIEW 2013 Home Buyer/Seller Satisfaction study by J.D. Power:- Repeat buyers and sellers expressed more satisfaction with their real estate company compared to customers who were selling or buying a home for the first time, according to the J.D. Power 2013 Home Buyer/Seller Satisfaction study. The 2013 Home Buyer/Seller Study includes 4,371 evaluations from 3,930 respondents who bought or sold a home between March 2012 and April 2013.A real estate company‟s agent remains the most important aspect of the customer‟s experience among first-time and repeat home buyers and sellers; however, customer loyalty is first to the company and second to the agent. Real estate companies remain challenged in adapting their customer service approach to best meet the needs of first-time home buyers and sellers. They need to educate these customers by explaining the current state of the market, discuss foreclosure and short sale transactions, and walk them through every step of the closing process. To measure satisfaction, the study looked at four factors in the home buying experience: agent/salesperson, real estate office, closing process, and variety of additional services.
  41. 41. 41 OBJECTIVES OF THE PROJECT:  Primary Objectives: 1. To know the customer satisfaction level towards services provided by company 2. To identify services to be included in services under support, update and engage to achieve customer delight.  Secondary Objectives: 1. To find out the customer expectation from HIH Realty. 2. To know ways to enhance customer service experience. 3. To suggest methods to reduce the inefficiencies.
  42. 42. 42 SCOPE OF STUDY 1. Customer‟s expectations change accordingly with time. Customer‟s expectations should be studied with great efforts, so that marketers can design the product based on the need of the customers. 2. If the customers need were met then the customer may turn as an asset to the company because they become opinion leader for others. So that the company can increase its market share. 3. It helps the organization to understand the customer psychology on choosing the product or service so that easily the product can be positioned. 4. Helps the company to understand the efficiency of the service provided to the customers, so that it can create the basis for further improvement. 5. The study helps to assess the real opinion and mindset of customers and aids to meet out their expectation in future. This in turn will increase the volume of sales.
  43. 43. 43 RESEARCH METHODOLOGY INTRODUCTION: Research methodology is a way to systematically solve the research problems. It guides the researcher to do the research scientifically. It contains of different steps that are generally adopted by a researcher to study his research problem along with the logic behind them. Data become information only when a proper methodology is adopted. The research methodology includes the logic behind the methods we use in the content of our research study. RESEARCH DESIGN: A research design is the arrangement of condition for collection and analysis of data in a manner which may result in an economy in procedure. It stands for advance planning for collection of the relevant data and the techniques to be used in analysis, keeping in view the objective of the research availability of time. There are three types of research designs. They are,  Exploratory research design.  Conclusive research design. 1. Descriptive research design. 2. Causal research design.  Performance monitoring research. The Research design used in this study was descriptive research design. It includes surveys and fact-finding enquiries of different kinds. The main characteristic of this
  44. 44. 44 method is that the researcher has no control over the variables; he can report only what has happened or what is happening. SAMPLING TECHNIQUES: The simple random sampling technique was employed in the selection of the sample. SAMPLE SIZE: The study was done on 156 booked customers of the company of which effective responses were gathered from 80 booked customer. Therefore the sample size which was drawn was 80 out of 156.The data of 156 booked customers was obtained from the customer database maintained by the company from 2011-2012 and 2012-2013. DATA COLLECTION METHORD: The data collection method for the study the researcher should keep in the mind the two sources of data. • Primary data • Secondary data. PRIMARY DATA COLLECTION: Source of primary data: 1. Experimentation 2. Observation 3. Questionnaire schedule
  45. 45. 45 Primary data has been collected through structured questioner. The questionnaire consisted of a variety of questions that lay consistent with the objective of the research. .  Questionnaire The questionnaire was prepared keeping in view the objectives of study. Different questions were so arranged to know satisfaction level of customers towards services provided by company. The questionnaire not only focused gathering information on the above mentioned areas but also about the service suggestions to be envisaged under support, update and engage. Questionnaire contains four types of questions 1. Open Ended 2. Dichotomous 3. Fixed Alternative Question STUDY CONDUCTED The primary data was gathered through Tele research. The information was gathered from the structured questionnaire. SECONDARY DATA: Secondary data has been collected from the Company Website, Internet etc.
  46. 46. 46 STATISTICAL TOOLS: The data are analyzed through statistical methods. Simplex percentage analysis are used for analyzing are used for analyzing the data collected. Simplex percentage analysis: Percentage analysis is the method to represent raw streams of data as a percentage ( a part in100‐ percent) for better understanding of collected data. Graphs: Graphical representations are used to show the results in simple form. The graphs are prepared on the basis of data that is received from the percentage analysis
  47. 47. 47 DATA ANALYSIS Website Parameter Analysis: 0 10 20 30 40 50 60 70 80 90 100 Engaging and Memorable Graphics and Multimedia Timely Response to Query Submission Navigation Goal Achivement Update and accurate 0 0 0 0 0 3.22 0 6.06 24 6.06 9.37 6.45 24.24 27.27 36 15.15 18.75 32.25 33.33 39.39 24 48.48 25 29.03 33.33 21.21 8 24.24 37.5 16.12 9.09 6.06 8 6.06 9.37 12.9 Extremely Dissatisfied Very Dissatisfied Somewhat Dissatisfied Somewhat Satisfied Very Satisfied Extremely Satisfied
  48. 48. 48 Website Analysis: Description of the Pie chart:  0% respondents are extremely dissatisfied with website services provided by company.  8% respondents are very dissatisfied with website services provided by company.  25% respondents are somewhat dissatisfied with website services provided by company.  34% respondents are somewhat satisfied with website services provided by company.  24% respondents are very satisfied with website services provided by company.  9% respondents are extremely satisfied with website services provided by company Extremely Dissatisfied 0% Very Dissatisfied 8% Somewhat Dissatisfied 25% Somewhat Satisfied 34% Very Satisfied 24% Extremely Satisfied 9% Website
  49. 49. 49 Email Parameter Analysis 0 10 20 30 40 50 60 70 80 90 100 Personalization Content relevance Easy Understanding 4.16 2.12 0 0 0 4.25 33.33 27.65 17.02 33.33 34.04 36.17 18.75 27.65 29.78 10.41 8.51 12.76 Extremely Dissatisfied Very Dissatisfied Somewhat Dissatisfied Somewhat Satisfied Very Satisfied Extremely Satisfied
  50. 50. 50 Email Analysis Description of pie chart:  2% respondents are extremely dissatisfied with Email services provided by company.  1% respondents are very dissatisfied with Email services provided by company.  26% respondents are somewhat dissatisfied with Email services provided by company.  35% respondents are somewhat satisfied with Email services provided by company.  25% respondents are very satisfied with Email services provided by company.  11% respondents are extremely satisfied with Email services provided by company. Extremely Dissatisfied 2% Very Dissatisfied 1% Somewhat Dissatisfied 26% Somewhat Satisfied 35% Very Satisfied 25% Extremely Satisfied 11% Email
  51. 51. 51 SMS Parameter Analysis: 0 10 20 30 40 50 60 70 80 90 100 Personalization Content Relevance 3.33 0 10 6.45 20 9.67 30 38.7 20 32.25 16.66 12.9 Extremely Dissatisfied Very Dissatisfied Somewhat Dissatisfied Somewhat Satisfied Very Satisfied Extremely Satisfied
  52. 52. 52 SMS Analysis: Description of pie chart:  2% respondents are extremely dissatisfied with SMS services provided by company.  8% respondents are very dissatisfied with SMS services provided by company.  15% respondents are somewhat dissatisfied with SMS services provided by company.  34% respondents are somewhat satisfied with SMS services provided by company.  26% respondents are very satisfied with SMS services provided by company.  15% respondents are extremely satisfied with SMS services provided by company. Extremely Dissatisfied 2% Very Dissatisfied 8% Somewhat Dissatisfied 15% Somewhat Satisfied 34% Very Satisfied 26% Extremely Satisfied 15% SMS
  53. 53. 53 Tele-consultant Parameter Analysis: 0 10 20 30 40 50 60 70 80 90 100 0 2.04 2.04 0 0 10.41 12.24 10.2 24.48 21.27 27.08 22.44 24.48 28.57 36.17 22.91 34.69 22.44 14.28 12.766 29.16 22.44 32.65 26.53 23.4 10.41 6.12 8.16 6.12 6.38 Extremely Dissatisfied Very Dissatisfied Somewhat Dissatisfied Somewhat Satisfied Very Satisfied Extremely Satisfied
  54. 54. 54 Tele-consultant Analysis: Description of pie chart:  1% respondents are extremely dissatisfied with services provided by Tele- consultant of the company.  16% respondents are very dissatisfied with services provided by Tele-consultant of the company.  28% respondents are somewhat dissatisfied with services provided by Tele- consultant of the company.  21% respondents are somewhat satisfied with services provided by Tele- consultant of the company.  27% respondents are very satisfied with services provided by Tele-consultant of the company.  7% respondents are extremely satisfied with services provided by Tele-consultant of the company. Extremely Dissatisfied 1% Very Dissatisfied 16% Somewhat Dissatisfied 28% Somewhat Satisfied 21% Very Satisfied 27% Extremely Satisfied 7% Tele-consultant
  55. 55. 55 Relationship Manager Parameter Analysis: 0 20 40 60 80 100 120 2.5 6.49 4 9.85 8.69 16.66 8.455 9.09 9.33 16.9 18.84 24.24 5.63 20 38.96 25.33 32.39 28.98 22.72 22.53 31.25 15.58 25.33 16.9 13.04 16.66 22.53 27.5 19.48 26.66 17.08 21.73 9.09 22.53 13.75 10.38 9.33 9.85 8.69 10.6 18.3 Extremely Dissatisfied Very Dissatisfied Somewhat Dissatisfied Somewhat Satisfied Very Satisfied Extremely Satisfied
  56. 56. 56 Relationship Manager Analysis: Description of pie chart:  8% respondents are extremely dissatisfied with services provided by Relationship Manager of the company.  12% respondents are very dissatisfied with services provided by Relationship Manager of the company.  27% respondents are somewhat dissatisfied with services provided by Relationship Manager of the company.  21% respondents are somewhat satisfied with services provided by Relationship Manager of the company.  20% respondents are very satisfied with services provided by Relationship Manager of the company.  12% respondents are extremely satisfied with services provided by Relationship Manager of the company. Extremely Dissatisfied 8% Very Dissatisfied 12% Somewhat Dissatisfied 27% Somewhat Satisfied 21% Very Satisfied 20% Extremely Satisfied 12% Relationship Manager
  57. 57. 57 Customer Relationship Manager Parameter Analysis: 0 10 20 30 40 50 60 70 80 90 100 7.54 0 23.52 0 50 10.81 50 7.54 2.5 5.88 14.28 0 8.1 50 35.84 30 5.88 14.28 25 48.64 0 20.75 15 17.64 0 0 16.21 0 20.75 25 29.41 42.85 0 10.81 0 7.54 27.5 17.64 28.57 25 5.4 0 Extremely Dissatisfied Very Dissatisfied Somewhat Dissatisfied Somewhat Satisfied Very Satisfied Extremely Satisfied
  58. 58. 58 Customer Relationship Manager Analysis: Description of pie chart:  10% respondents are extremely dissatisfied with services provided by Customer Relationship Manager of the company.  8% respondents are very dissatisfied with services provided by Customer Relationship Manager of the company.  31% respondents are somewhat dissatisfied with services provided by Customer Relationship Manager of the company.  15% respondents are somewhat satisfied with services provided by Customer Relationship Manager of the company.  21% respondents are very satisfied with services provided by Customer Relationship Manager of the company.  15% respondents are extremely satisfied with services provided by Customer Relationship Manager of the company. Extremely Dissatisfied 10% Very Dissatisfied 8% Somewhat Dissatisfied 31% Somewhat Satisfied 15% Very Satisfied 21% Extremely Satisfied 15% CustomerRelationship Manager
  59. 59. 59 Company Analysis: Description of pie chart:  5% respondents are extremely dissatisfied with services provided by the company.  10% respondents are very dissatisfied with services provided by the company.  27% respondents are somewhat dissatisfied with services provided by the company.  24% respondents are somewhat satisfied with services provided by the company.  23% respondents are very satisfied with services provided the company.  11% respondents are extremely satisfied with services provided by the company. Extremely Dissatisfied 5% Very Dissatisfied 10% Somewhat Dissatisfied 27% Somewhat Satisfied 24% Very Satisfied 23% Extremely Satisfied 11% Company Analysis
  60. 60. 60  77% respondent said they want home decor facility service to be included in the services offered by the company.  69% respondent said they want Home Furniture and Fixtures service to be included in the services offered by the company.  73% respondent said they want Transport facility from residence to the site to be included in the services offered by the company.  80% respondent said they want Intermittent Email on market analysis of the property to be included in the services offered by the company. Home Décor Facility Home Furnitur e and Fixtures Shifting Services Transpor t facility from residenc e to the site Intermitt ent Email on market analysis of the property New investme nt suggetio ns Snapshot by email on construc tion update Docume ntation and legal advisory Yes 78.75 68.75 72.5 77.5 80 66.25 83.75 52.5 0 10 20 30 40 50 60 70 80 90 Yes
  61. 61. 61  66% respondent said they want new investment suggestions service to be included in the services offered by the company.  84% respondent said they want home snapshot by email on construction updates to be included in the services offered by the company.  53% respondent said they want Documents and legal advisory service to be included in the services offered by the company.
  62. 62. 62 FINDINGS Observation for various services provided by company: Website: 1. Information on website is not updated as compared to other realty websites. 2. There is no awareness of website of the company. 3. Deficient detailed information of the projects on the website. Email 1. There is no unsubscribed option for Email. 2. The email send to customers were under inappropriate name. 3. The email with same content was reiterated. 4. It did not contain complete details of the projects. SMS 1. Customer found reiterating offer related SMS abrasive. 2. SMS is not personalized. 3. SMS is confusing whether the message is from the company or Lodha. Tele-Consultant 1. The delivery of information from Tele-consultant been found insufficient.
  63. 63. 63 2. Tele-consultant has not provided information on various projects in same vicinity. 3. The information on the project was not customized to the specific customer requirement. 4. Tele-consultant delivery was found insensible. 5. The Tele-consultant only focused on Lodha Projects and they have improper information of other projects. 6. There is no follow up after commitment of call back. Relationship Manager 1. There had been a lot of false commitment made to the customers. 2. The RM was not able to make comparison between various projects. 3. The information dissemination was not properly structured by RM. 4. The RM has pressurized the customer to close the deal fast. 5. The RM acted like a broker not as a realty consultant. 6. The developer and client did not have trust and confidence in RM. 7. The RM did not efficiently negotiate with developer for the client in respect of the prices committed by the RM to the client.
  64. 64. 64 Customer Relationship Manager 1. Cheques pick up and drop facility was not efficient enough and was not given on time. 2. False commitment been made. E.g. commitment of fine reversal has not been fulfilled. 3. There was no customer engagement after property selling. 4. Developer issue resolution is not provided after buying the property. 5. Commitment of the gift was not fulfilled. 6. The payment reminder was not given on the right time. 7. There was demand of documents which were not required.
  65. 65. 65 LIMITATIONS 1. Data issues  Wrong number The data which was available consisted of 12 wrong numbers.  Property cancelled The data which was available consisted of 13 contact information of clients who had cancelled the property. 2. Incomplete responses  There was incomplete response from 7 respondents because they were highly unsatisfied.  There was incomplete response from 16 respondents as they were not interested in responding to the questionnaire. 3. No response  There was difficulty to take responses from 5 respondents as they were out of reach.  There were 9 respondents who were not answered the call. 4. Appointment given beyond the target date  There were 14 respondents who gave call appointments beyond the target date. 5. Non- availability of data  The booked customer data was not available on time to achieve the target on given data.
  66. 66. 66 CONCLUSIONS After conducting market research for HIH Realty Pvt Ltd we came to know different needs of consumers, their valuable suggestions, responses to the different questions. With this information we can conclude that customers are somewhat satisfied by services provided by the company. The research gives an exemplary insight of the performance of the company. The table depicts below mentions the customer satisfaction level towards their overall experience with the company. Customer Satisfaction Level Percentage of Respondent Extremely Dissatisfied 5% Very Dissatisfied 10% Somewhat Dissatisfied 27% Somewhat Satisfied 24% Very Satisfied 23% Extremely Satisfied 11%
  67. 67. 67 SUGGESTIONS Suggestions for improvement in services provided by the company: Website 1. Continual update of the images on the website of projects would build confidence in the customer. 2. Important information of the project should be highlighted on the webpage, so that it can catch the eye of the customer. 3. Website should be updated with current market analysis. 4. Images of the projects should get updated every month, so the current constructed status could be clear. 5. Multimedia and Animated display of projects should be there. 6. Audio Visual information of the projects should be uploaded. Email 1. There should be unsubscribed option for email. 2. The Credential of the person should be known before sending the email and it should not be send to a wrong person. 3. Email sending should be moderate and should not be overdone. 4. It should contain the detailed information of the project. i.e.
  68. 68. 68 information on price of the project construction loan information amenities 5. There should be emails by the company intimating its participation in property exhibitions. 6. There should be emails on current status of the project. 7. Emails should not be repeated with same information. 8. Emails should also be sent containing information current project analysis and its current prices of the Property bought with the images of construction updates. SMS 1. There should be unsubscribed option for SMS. 2. The SMS should be personalized. 3. The sending of the SMS should be moderate, it should not be overdone. 4. Information update on the current prices of the bought property by customer through SMS. 5. Messages should not be repeated with same information.
  69. 69. 69 6. The SMS should be sent on projects of various developers not only of Lodha projects. Tele-consultant 1. Tele-Consultant should be updated with the information on the current status and information on final price of the projects. 2. The call should not be a general call. It should be very specific to the project search by the client. 3. The customization should be refined to the specific customer requirement. 4. Clarity in delivery should be there so that client trust could build up. 5. They should call only on time given by the customer, not on any other time. Relationship Manager 1. The reciprocation by the RM should be quick and on time. 2. The RM should have a good knowledge of the all the project in the vicinity. 3. The RM should give detailed information about projects, and make them understand about all the procedure for acquiring the property. 4. The RM should not represent the developer, understand customer‟s requirement and accordingly should give proper suggestions. 5. The information of overall cost in acquisition of property should be given to client properly.
  70. 70. 70 6. The RM should have proper knowledge of tax applicable, agreement, formulation and other documentation for acquiring the property. 7. The site visit should be must before the possession of the property. 8. RM should stay in touch till the completion of the process. 9. The RM should not pressurize the customer to close the deal fast. 10.The RM should provide Vaastu information of the property andproject. 11.The RM should disseminate information on both Pros and Corns of the project. Customer Relationship Manager 1. The CRM should keep the customer updated with changes in respect of developer policy and developer issues till the possession of the property. 2. The CRM should give proper and detailed information about loan and help in its procurement. 3. The CRM should be made responsible and accountable till the completion of the process. 4. The CRM should keep customer updated, if there is delayed in possession. 5. The customer should be aware of the facility of the CRM given by the company. 6. There should be proper report send through email on the update of the construction. 7. False commitments should not be made.
  71. 71. 71 8. The information on changes in developers plan, policy and charges should be informed to the client on time. Service Suggestions 1. Home loan Advisory service should be provided and a specific person should be appointed for it. 2. Company should help in getting better home loan deals from the bank. 3. Company should provide services for letting out property. 4. Company should provide service for re-sale of property. 5. The company should provide a list of contact details of all the proximate Dish service, Internet service and electric appliance repair service and newspaper service and laundry service providers. 6. The company should issue monthly booklets or magazines containing hot property information.
  72. 72. 72 RECOMMENDATIONS Service Recommendations A. Support Services 1. Home Loan Acquisition a) Concessional rate acquisition b) Advisory on resource management 2. Home Décor Facility 3. Home Furniture and Fixtures 4. Shifting Services 5. Documentation and legal advisory on a chargeable basis. B. Update Services 1. Construction update by mail with snapshots. 2. Intermittent calls for construction update. 3. Market Analysis information to the specific property bought through mail and call. 4. Information on the general trend of the market through mail. 5. New Investment Suggestions.
  73. 73. 73 C. Engage Services 1. Tweets 2. Solicitation and Greetings through mails and call and gifts. 3. Blogs on Facebook and followership 4. Community on Facebook with an online game platform. 5. Half yearly Customer Interaction Meet 6. Linked in Profile Improvement for Professional Engagement.
  74. 74. 74 BIBLIOGRAPHY 1. Barnes, James G. 2000. Secrets of Customer Relationship Management : It's All about How You Make Them Feel. McGraw-Hill. 2. “CUSTOMER SATISFACTION IN 7 STEPS” Article by Adrian Thompson. 3. Kotler Philip, Principles of Marketing, Sultan Chand and Company Ltd., New Delhi, 2002. 4. Gerson, Richard, 1993. Measuring customer satisfaction: A guide to managing quality service. Course Technology Crisp. Kothari C.R., Research Methodology, WishwaPrakashan, New Delhi, 1985(Reprint 2003). Websites: 1. 2. 3.
  75. 75. 75 ANNEXURE Customer Satisfaction Questionnaire Home India Home Pvt Ltd. Name: Age: Occupation: Project: Relationship Manager: Q1. How did you come to know about the company? a) Online b) friends & relatives c) SMS d) other Q2. Please rate the Website of the company on the given parameters Parameters 1.Extremely Dissatisfied 2.Very Dissatisfied 3.Somewhat Dissatisfied 4.Somewhat Satisfied 5.Very Satisfied 6.Extremely Satisfied Engaging and Memorable Experience Graphics and Multimedia Timely Response to Query Submission Navigation Goal Achievement Updated and accurate Q3. Please suggest any improvement for the website which would enhance your Website experience. Q4. Please rate the E-Mails sent by the company on the given parameters.
  76. 76. 76 Q5. Please rate the SMS sent by the company on the given parameters Q6. Please suggest on the improvement of Emails and SMS. Q7. Please rate the service delivered by the Tele-Consultant of the company on the given parameters Q8. Please suggest any other service which the Tele-Consultant should provide? Q9. Please rate the service delivered by the Relationship Manager of the company on the given parameters. Parameters 1.Extremely Dissatisfied 2.Very Dissatisfied 3.Somewhat Dissatisfied 4.Somewhat Satisfied 5.Very Satisfied 6.Extremely Satisfied Personalization Content Relevance Easy Understanding Parameters 1.Extremely Dissatisfied 2.Very Dissatisfied 3.Somewhat Dissatisfied 4.Somewhat Satisfied 5.Very Satisfied 6.Extremely Satisfied Personalization Content Relevance Parameters 1.Extremely Dissatisfied 2.Very Dissatisfied 3.Somewhat Dissatisfied 4.Somewhat Satisfied 5.Very Satisfied 6.Extremely Satisfied Welcome Message Communication Information Sufficiency Customized Information Relevant Suggestions
  77. 77. 77 Parameters 1.Extremely Dissatisfied 2.Very Dissatisfied 3.Somewhat Dissatisfied 4.Somewhat Satisfied 5.Very Satisfied 6.Extremely Satisfied Project Detail Information Project Analysis Documentation Information Project Comparative Analysis Project Market Analysis Realty Market Analysis Relevant Property Suggestions Q11. Please suggest any other service which the Relationship Manager should Provide. Q12. Please rate the service delivered by the Customer Relationship Manager of the company on the given parameters. Q13. Please suggest any other service which the Customer Relationship Manager should provide Parameters 1.Extremely Dissatisfied 2.Very Dissatisfied 3.Somewhat Dissatisfied 4.Somewhat Satisfied 5.Very Satisfied 6.Extremely Satisfied Welcome Correspondence (call & e-mail) Welcome Kit Home Loan Advisory & Procurement Cheque pick up and drop facility Fine Reversal Payment Reminders after registration Developer Issues
  78. 78. 78 Q14. Please tick from the list given below, the service if added to the present Offering would add value to your satisfaction. Service Yes No 1. Home Décor Facility 2. Home Furniture and Fixtures 3. Shifting Services 4.Transport Facility from residence to the site. 5. Intermittent Email on market analysis Of the property. 6. New Investment Suggestions. 7. Snapshot by email on construction Update 8. Documentation and legal advisory Q15. We would request you to make any suggestion which the company should add to the present offering. Q17. Please suggest on improving your experience with the company.