summer internship project report on construction company

7/27/2019 summer internship project report on construction company

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Acknowledgement

I take this opportunity to express my sense of gratitude to all those who helped me in

completing this project. The successful task would be incomplete without the mention of the

people whose constant guidance and encouragement crown all efforts with success.

First of all I would like to convey my thanks to Mr. Lalit patil (Mentor) for his

constant suggestions which have resulted in successful completion of project

I would like to express my sincere gratitude to Mr. Vijay Gawad (Chairman, G.M

Group) for giving me the opportunity to work and learn with G.M. Group. I would also like to

thank Mr. Rakesh Patil (Marketing and Sales) who extended to me all the support and

cooperation I required during working in the field in various areas from time to time.

The individual and personal efforts of everyone concerned were memorable and I am

once again sincerely thankful to the whole team of G.M Group and for their cooperation and

providing me the required information and resources and helping me throughout for the

successful completion of this project.

Date: 15rd July 2013

Place: Mumbai

Amit Gawad


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EXECUTIVE SUMMARY

I started my internship project on 6th May 2013 in G.M. Group asked to recommend

Estado on how G.M group should improve the brand.

I was asked to collect the information related to real estate and also

conduct a survey on brand recall and brand association.

I prepared the questionnaire for brand recall and brand association.

The objectives of my questionnaire are as follows -

1. To find which brand has maximum recall.2. To find what attributes are related with the brand and3. To find out the buying preferences.

I worked directly under Mr. Rakesh Patil (Marketing and Sales) on branding options

for the company and also in forming various marketing strategies.


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1 INTRODUCTION OF THE COMPANY

Formed in the year 2004, by 2 young & dynamic entrepreneurs:

Mr. Govind Gawad, MS in Entrepreneurship

Mr. Madhukar Gawad, PGDBM in Finance and Entrepreneurship

G.M Group is a young company with a fresh and unique approach

to the Virars Real Estate market. G.M is headed by its Chairman Mr. Vijay

Gawad

G.M group has been formed on the simple premise that the realty markets

need to create credibility through transparency in transactions, quality

products, customizing products to customer needs and above all timely deliveries.

We believe that this guiding principle will help the group to develop its unique

position in the market as a developer who delivers a quality product on time and

has the flexibility to create homes suited to client needs.

The culture of the organization is deep rooted into its four pillars,

Quality, Ethics, and Relationship & Transparency (QERT).


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2 RESEARCH METHODOLOGIES

What is research?

Research can be defined as a scientific and systematic search for pertaining information on a

specific topic. We define research as the systematic design, collection, analysis and reporting of

data and findings relevant to a specific situation facing the company.

3.1 OBJECTIVES OF THE STUDY

Project has mainly two following objective-

1. To determine the customers perception.

2. To determine the customers expectations.

3.2 SCOPE OF THE STUDY:

The project undertaken gives me a broad view of the virar Real Estate industry and also

helps me to understand the consumer behavior.

3.3 DATA COLLECTTION METHODS:-

1. Primary data are collected through questionnaire method which is designed to keep

n view the objective of the study.

2. Secondary data is collected through internet sources, research papers, and published

reports by various institutions.


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3 BRAND ASSOCIATION

Brand association is anything which is deep seated in customers mind about the brand.

Brand should be associated with something positive so that the customers relate your brand to

being positive. Brand associations are the attributes of brand which come into consumers

mind when the brand is talked about. It is related with the implicit and explicit meanings

which a consumer relates/associates with a specific brand name. Brand association can also

be defined as the degree to which a specific product/service is recognized within its

product/service class/category. While choosing a brand name, it is essential that the name

chosen should reinforce an important attribute or benefit association that forms its product

positioning.

1. Customer benefitCustomer benefit refers to the need that is satisfied by a product. For Example, cavity control

by a toothpaste is a customer benefit. Customer benefit may be rational, psychological

(emotional) benefit, or self- expressive benefit. A rational benefit is closely linked to a

products attribute and would be part of a rational decision process. A psychological

benefit relates to what feelings are engendered when buying and or using the brand.

An example of a rational benefit for a computer to a consumer would be its ability not to lose

work whereas a psychological benefit would be the feeling of being professional. For a car,

the emotional benefit would be the feeling of safety when driving it as a driver of a Volvo car

would testify.

The self-expressive benefit relates to the ability of a brand to help a consumer to

communicate his or her self-image. Since consumers have multiple roles, the

consumer has an associated self-concept and a need to express that self-concept. The

purchase and use of brands is one way to fulfil the need for self-expression. He gives the

example of a consumer who may define him/herself as successful and powerful by driving a

Mercedes Benz.

2. Product attributes


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These refer to a products characteristics. Attributes are associated with a products rational

benefit. For example, a Volvo cars attribute is durability. Similarly, a shampoos attribute

would be its safety to use every day. A marketer requires to identify an attribute that is

important to a major segment and not already claimed by a competitor, e.g. an attribute that

offers something extra (like features or services that offer something better). The

identification of an unmet customer problem can sometimes lead to an attribute previously

ignore by competitors. Indeed, unmet needs are strategically important because they can

represent opportunities for firms that want to make major moves in the market.

3. Use / application

A marketer can associate a brand with a particular use or application. For example, a beer can

be associated with good friends in a warm social setting. A study of the coffee market

revealed that there were nine relevant use contexts for coffee.

4. User / Customer

Another way of positioning a brand is to associate it with a type of user or customer. This

involves identifying the brand with its target segment. For example, a brand can be associated

with those who are interested in weight control as would be the case of a new drug.

5. Celebrity

This is the individual who endorses a brand. Linking a celebrity with a brand can transfer

associations such as reliability, strength, performance, and so on. The extent to which the

association can be linked to the celebrity depends on how credible the person is perceived by

the audience. Specifically, a source is more persuasive when the audience perceives him or

her as highly credible as when perceived as being low in credibility. In other words, the

person need not be credible but it is how the consumers perceive him.

6. Lifestyle / Personality

The brand can be viewed as a person. Like a person, a brand can be perceived as being

competent, trustworthy, active, or youthful. A brand personality may help communicate a

products attribute and thus contribute to a functional benefit. Similarly, it can help create a

self-expressive benefit that becomes a vehicle for the customer to express his or her own

personality.


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7. Competitors

A firm positions its brand using the organizations attributes such as innovation, a drive for

quality, and a concern for the environment. A firm can position its brand with respect to a

competitor. Sometimes it is not important how good customers think a firm is, but how they

believe it is better than a given competitor. While this brand association can be accomplished

by comparative advertising, it is not usually allowed in some countries

8. Country of Origin

One more strategic option that a marketer has is to associate a brand with a country. The

country of origin has an effect on the markets perception of a product - either a positive or a

negative perception. Cateora (1996) asserts that a company competing in global markets may

manufacture products world-wide and when the customer becomes aware of the country of

origin, there is the possibility that the place of manufacture will affect product/brand image.

The influence may be to add credibility or to lower it.

Examples of Brand Association.

When I say 5-star Hotel I immediately recall the brand J.W.Marriott. Thus the brand Marriott

is associated with Premium 5star hotels.

The Nike Swoosh, Nokia sound, Film Stars as with Lux, signature tune Ting-ting-ta-ding

with Britannia, Blue colour with Pepsi, etc. Associations are not reasons-to-buy but

provide acquaintance and differentiation thats not replicable. It is relating perceived qualities

of a brand to a known entity. For instance- BMW is associated with sophistication, fun

driving, and superior engineering. Most popular brand associations are with the owners of

brand, such as - Bill Gates and Microsoft, Reliance and Dhirubhai Ambani.


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4 BRAND ASSOCIATIONS ROLE IN CREATING BRAND EQUITY

The value premium that a company realizes from a product with a recognizable name as

compared to its generic equivalent. Companies can create brand equity for their products by

making them memorable, easily recognizable and superior in quality and reliability. Mass

marketing campaigns can also help to create brand equity. If consumers are willing to pay

more for a generic product than for a branded one, however, the brand is said to have

negative brand equity. This might happen if a company had a major product recall or caused

a widely publicized environmental disaster.

In his significant work on brand equity Aaker suggests that brand associations are vital in

creating value for the company since the host of different brand associations provide value to

in different ways. He identifies five propositions that all feed into creating value for the

company and thereby help generate strong brand equity. Those are; helping to process/

retrieve information, differentiating the brand, generating a reason to buy, creating positive

attitudes/feelings and lastly providing a basis for brand extensions.

In his significant work on brand equity Aaker suggests that brand associations are vital in

creating value for the company since the host of different brand associations provide value to

in different ways. He identifies five propositions that all feed into creating value for the

company and thereby help generate strong brand equity. Those are; helping to process/

retrieve information, differentiating the brand, generating a reason to buy, creating positive

attitudes/feelings and lastly providing a basis for brand extensions .

Help process and retrieve information

A brand association can serve as an information chunk that can help the decision maker to

cope with the otherwise large amount of information that the consumer may have difficulties

accessing and processing. Associations can also help in the interpretation of facts. For

example, with high-technology brands such as HP, brand associations may influence the

interpretation of a long specifications list


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Differentiate

Associations of a brand may play a critical role in differentiating brands from one another. A

specific brand association linked to a certain brand can become the key competitive

advantage. An example is the high performance soft-drink Gatorade that is highly associated

with athletic competition where competing brands may have trouble being credible in

claiming the same feature. Hence, brand associations can be a great barrier to competitors.

Reason to buy

Plenty of brand associations include product attributes or customer benefits that provide the

decision maker with reason to buy or consume the brand. An example is That calls for a

Carlsberg which provides the consumer with a reason to buy the beer whenever one has an

occasion. Another example is the Vestas tagline Experience the forces of wind. If this is

well-positioned in the consumers memory as a brand association, it can provide future

Vestas employees with a reason to buy. Other brand associations may provide credibility

and confidence in the brand. Thus, influence the purchase decision.

Create positive attitudes

Some brand associations are interlinked and can stimulate positive attitudes that are

transferred to the brand. Celebrity endorsers, symbols, and slogans can in the right context

elicit positive feelings towards the brand (Ibid). For instance, Nike has successfully used

Michael Jordan as an endorser. Finally, Nokias slogan connecting people is spot on in

most situations.

Basis for extension

An association can also serve as the basis for an extension by creating a sense of fit between

the brand and the brand extension or by providing reason to buy the extension. For example

the brand association low cost with Easy Jet and Easy Hotel shows how marketers can use

the associations as a platform for extension.


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Brand associations role in creating customer-based brand equity

To create strong Customer Based Brand Equity the consumer needs to have strong, unique

and favorable brand associations in mind. This is important because these brand associations

will differentiate the brand from other competing brands.

Strong brand associations

The strength of brand associations is influenced by two factors; personal relevance and the

consistency with which it is presented over time. The more deeply a consumer thinks about

any brand information and relates it to existing knowledge in memory, the stronger the brand

association will be. This corresponds to the way the association is spread in the associative

network by the brand as a node. Strong associations will be recalled faster and will make the

consumer pay attention to the brand

Favorable associations

Favorable associations for a brand are those identified as desirable to consumers in terms ofconvenience, reliability, and effectiveness and deliverable by product. Marketers create

favorable associations by convincing consumers that the brand possess just what the

consumer need and want.

Unique associations

Unique brand associations refer to the brands unique selling proposition. At best, the brand

associations should be exclusive to that specific brand and not be shared with any other

competing brands.


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5 QUESTIONNAIRE

1. What is the first name that comes to your mind when you think about a real estate

company?

2. What attributes do you associate with the brand? Choose

Reliability

Transparency

On time Delivery

Quality of construction

3. How did you form this opinion?

1)By coming in touch with the employees of the firm

2)Through advertisements

3)Through the association with the owners of the company

4)Word of mouth publicity

5)Product class

6)Celebrity/Person

7)Bought products

8)Friends recommendations

4. Have you ever purchase the product from this brand?

Yes No


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5. If yes, does the product satisfy all your needs?

6. If no, then what changes are needed to be done?

7. Do you base your buying classifications on the following, please rank from 1-5

Location

Brand

Price

Quality

Visit to site

8. Does the brand increase the acceptance of the product?

Yes No

9. Have you visited the company website?

Yes No

10. If yes, how useful is the website for?

Knowing more about the product

Knowing more about the company

Knowing the price

Does not help


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6 DATA ANALYSIS AND INTERPRETATION

Q1. Which is the first company that comes to your mind when you think about a real estate

company?

The brand Viva has the maximum recall i.e. 5, 2nd is Swastik and ekta with 4 recalls and

Ameya and hdil have 3 recalls each.

Viva being having the maximum recall this shows that brand recall does not affect the

purchasing decision of the consumer

Q2.What attributes do you associate with the brand?

0

1

2

3

4

5

6


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46 % people form an attribute that the brand they recalled is Reliable

36 % people form an attribute that the brand they recalled has quality of construction

7 % feel that the brand they recall maintains transparency

5 % form an attribute that the brand always delivers on time

2 % form an attribute because of IPL, Personal Contact and Locality of schemes.

That means people prefer a brand which is Reliable, has quality of construction and maintains

transparency.

Reliability is the most vital factor for the consumers to buy a product from the builder,

followed by quality of construction.

Q3. How did you form this opinion?

46%

36%

7%

5%

2% 2% 2%

What attributes do you associate with the

brand?

reliability

Quality of construction

Transparency

delivery on time

Locality of schemes

IPL

personal contact


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19 % form this attribute by recommendation made by friends

18 % by advertisements and word of mouth publicity

16 % by coming in association with the owners of the company

11 % by product class

9 % by coming in touch with the employees of the firm

5 % have bought the product and

2 % have seen it themselves and, relatives own a property with the builder

35% people form an attribute about a company by coming in touch with friends, word of

mouth publicity and advertisements

27 % form an opinion by coming in association with the owners of the firm and product class

Thus one can conclude that the Brand recall is based on personal recommendations,

advertisements also have a significant role to play.

Q4. Have you ever purchased a product from this company?

19%

18%

16%

11%

9%5%

2%

How did you form this opinion?

friend recommendations

through advertisement

through association with the

owners of the company

product class

by coming in touch with

employyes of the firm

bought products

seen it


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57.4 % people havent purchased any product from the companies still they recall those

brands.

It is significant to note that almost 60% people have not actually purchased the product, but

already have a Brand recall

Q5. Does this product satisfy all your requirements?

8

22

Have you ever purchased a product from this

company?

Yes

No

80%

3.2

Does this product satisfy all your

requirements?

yes

no


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20 % people are not satisfied with the products they have bought.

It is also significant that those that have bought the products from a known brand are

unsatisfied with the brand. Therefore of the 43% who buy the brand, 20% are dissatisfied

with the Brand therefore the dissatisfaction rate is as high as 9% which is alarming.

Q7. Rank the following buying preferences on the scale of 1 - 5.

Location of the property is the first preference for buying, followed by price of the product,

third is visit to site people prefer buying a property only after visiting the site, Brand ranks

4th when it comes to buying preference and the last preference is quality. It is significant to

note that the first preference is location. Therefore the advertising strategy should be endemic

to that area in which the product us being sold. Perception of quality needs to improve since

buyers seem to feel that they have no control over the quality since location and price are

their preference.

Q8. Does the brand increase the acceptance of the product?

0

1

2

3

4

5

6

location brand price quality visit to site

scale

scale


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91 % people agree that the presence of Brand increases the acceptance of that product

I.e. most of the people are brand conscious.

Q9. Have you visited the company website?

91%

9%

Does the Brand Increase the acceptance of

the product?

Yes

No

39%

61%

Have you visited the comapny website?

Yes

No


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61 % people have not visited the company website. Most people visit the company website

before purchasing their product.

Q10. What was the company website useful for?

Company website is most useful to derive maximum information about the company, to

know more about the product and pricing. Also many people feel that the company website is

not at all useful.

19 % people think the company website is not useful at all

36% people think that website is more useful for knowing more about the company

45 % feel that it is useful for knowing more about the product and price.

28%

36%

17%

1.2

What was the company website useful for?

Knowing more about the

product

knowing more about the

company

knowing more about the price

does not help


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7 RECOMMENDATION FOR G.M. Group

G.M should focus on getting in more walk-ins as the maximum audience choose

recommendations by friends and word of mouth publicity helped them to form an opinion

about the company. Forming a Brand name is a long process and G.M should continue to

focus on good locations, be reliable and maintain the good quality construction to be a

successful brand over the years to come.


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8 CONCLUSION

The conclusion of the report are as follows

1. G.M should focus of building reliability and maintain the quality of construction.

2. The company should focus on developing flat in the range of 25 - 40lakhs at good

locations and maintain the same quality of construction.

3. On the basis of the Survey. I am of the firm belief that there is significant opportunity for

G.M in establishing its brand as someone who provides excellent quality at a reasonable

price in the preferred location

4. G.M therefore must focus on providing excellent quality at affordable price in the

location they are in.

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summer internship project report on construction company

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