Specialization Project on

AN EMPIRICAL STUDY UNDERSTANDING THE IMPACT

OF DIGITAL ADVERTISEMENT ON REAL ESTATE
PURCHASING

Capstone Project Report

Submitted as a partial fulfilment for the award of the degree of Master of
Management Studies (MMS)
(Under University of Mumbai)

Submitted by

Rohit Venkat

Roll No 36

Under the Guidance of

Dr. Rajesh Nair

2018-2019

SIES College of Management Studies

1
 Certificate

This is to certify that project titled “AN EMPIRICAL STUDY UNDERSTANDING THE
IMPACT OF DIGITAL ADVERTISEMENT ON REAL ESTATE PURCHASING” is
successfully completed by Mr. Rohit Venkat during IV semester, in partial fulfilment of the
Master’s degree in Management Studies recognized by the University of Mumbai for the
academic year 2017 – 2019 through SIES College of Management Studies. This project work is
original and not submitted earlier for the award of any degree/diploma or any associateship of
any other University/institution.

Name: Dr. Rajesh Nair

Date: Signature of Faculty Guide

2
 Declaration

I hereby declare that this project report submitted by me to the SIES College of Management
Studies is a bonafide work undertaken by me and it is not submitted to any other University or
Institution for the award of any degree diploma/certificate or published any time before.

Name of the Student: Rohit Venkat

Roll No.: 36 Signature of Student

3
 ACKNOWLEDEGEMENT

I have taken sincere efforts and worked extremely hard on this project titled “AN EMPIRICAL
STUDY UNDERSTANDING THE IMPACT OF DIGITAL ADVERTISEMENT ON REAL
ESTATE PURCHASING”. I have tried to ensure that justice has been done to the project.
However, it would not have been possible without the kind support and help of many individuals
and organisation. I would like to extend my sincere and humble thanks to all of them.

I would like to thank all the professors at SIES College of Management Studies, particularly my
college guide Dr.. Rajesh Nair who guided me throughout the period and gave in their valuable
inputs to craft this report.

Any acknowledgement would be incomplete without thanking my family for supporting me and
my friends for their constructive feedback. I sincerely hope that this report will provide its
readers in depth knowledge about the topic

Signature

Rohit Venkat

Date:

4
 Executive Summary

Before 2015 the Real Estate sector was considered to be an unorganized sector. But after the
introduction of RERA, that is Real Estate Regulatory Authority, the sector has begun working in
an organized format. The advertising and marketing done by the real estate sector has indeed
become more structured and well planned which has in turn resulted in a smooth execution and a
wider reach.

There are two types of advertisings, one is the traditional or the conventional way and the other is
the modern or the digital way of advertising. In this project we have spoken about both, the
traditional and the modern way of advertisements along with their pros and cons. The project also
contains an overview of few top Real Estate players in the industry and a detailed comparison
about their presence on the digital platforms along with the statistics is also provided in the
project.

During the research, an unstructured interview was conducted with 4 channel partners (brokers)
who are conducting traditional as well as modern mediums of marketing. During the interview a
detailed analysis was done as to which medium of marketing would be more preferable for the
real estate sector.

Apart from this, a detailed interview was also taken with a sample size of 153 participants. In this
detailed interview, the respondents view was taken regarding the impact of the digital
advertisement before making any real estate purchases and if the impact of influence of the
traditional media is greater than the digital media and vice versa.

5
 Contents
1: Introduction.............................................................................................................................................2
1.1 Real Estate Industry in India...............................................................................................................2
1.2 Market Size.........................................................................................................................................3
Chapter 2: Advertisement Industry: Digital v/s Traditional Media...............................................................5
2.1 Digital Marketing v/s Traditional Marketing: What is Traditional?.....................................................7
2.2 Digital Marketing vs Traditional Marketing: What is Digital?...........................................................12
2.3 Digital Marketing vs Traditional Marketing: What Do the Stats Say?...............................................14
2.4 Digital Marketing vs Traditional Marketing: Where to Invest?.........................................................16
2.5 Digital Marketing vs Traditional Marketing: Why Choose Digital.....................................................18
Chapter 3: Top Real Estate Player in India..................................................................................................21
Chapter 4: Literature Review:....................................................................................................................25
Chapter 5: Research Methodology.............................................................................................................28
Chapter 6: Qualitative data – Channel Partner...........................................................................................30
Chapter 7: Quantitative data: Customer Survey.........................................................................................32
Chapter 8: Conclusion and Learnings.........................................................................................................60
Chapter 9: Bibliography..............................................................................................................................61
Chapter 10: Appendices.............................................................................................................................62

6
 1: Introduction

1.1 Real Estate Industry in India

The real estate sector is one of the most globally recognized sectors. Real estate sector comprises
four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well
complemented by the growth of the corporate environment and the demand for office space as
well as urban and semi-urban accommodations. The construction industry ranks third among the
14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in both
the short term and the long term. Bengaluru is expected to be the most favoured property
investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and
Dehradun.
Real estate sector in India is expected to reach US$ 1 trillion by 2030. By 2025, it will contribute
13 per cent of the country’s GDP. Emergence of nuclear families, rapid urbanisation and rising
household income are likely to remain the key drivers for growth in all spheres of real estate,
including residential, commercial and retail. Rapid urbanisation in the country is pushing the
growth of real estate. More than 70 per cent of India’s GDP will be contributed by the urban
areas by 2020.
Cross-border capital inflows to India’s real estate sector have increased 600 per cent during 2012-
17 to reach US$ 2.6 billion. In 2017, India ranked 19th out of 73 countries in attracting cross-
border capital to its property market. Private Equity and Venture Capital investments in the sector
reached US$ 3.37 billion between Jan-Oct 2018.  Between 2015 and March 2018, the retail
segment in Indian realty attracted private equity investments of around Rs 5,500 crore (US$
$853.4 million).
Office space has been driven mostly by growth in ITeS/IT,BFSI, consulting and manufacturing.
Gross office absorption in top Indian cities has increased 26 per cent year-on-year to 36.4 million
square feet between Jan-Sep 2018. Warehousing space is expected to reach 247 million square
feet in 2020 and see investments of Rs 50,000 crore (US$ 7.76 billion) during 2018-20. Grade-A
office space absorption is expected to cross 700 million square feet by 2022, with Delhi-NCR
contributing the most to this demand.

7
The Government of India has been supportive to the real estate sector. In August 2015, the Union
Cabinet approved 100 Smart City Projects in India. The Government has also raised FDI limits
for townships and settlements development projects to 100 per cent. Real estate projects within
the Special Economic Zone (SEZ) are also permitted 100 per cent FDI. Government of India’s
Housing for All initiative is expected to bring US$ 1.3 trillion investments in the housing sector
by 2025. Under the Pradhan MantriAwasYojana (PMAY) Urban, 6,028,608 houses have been
sanctioned up to September 2018. The scheme is expected to push affordable housing and
construction in the country and give a boost to the real estate sector. The government has also
released draft guidelines for investments by Real Estate Investment Trusts (REITs) in non-
residential segment.
 

1.2 Market Size

Real estate sector in India is expected to reach a market size of US$ US$ 1 trillion by 2030 from
US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP by 2025. Retail,
hospitality and commercial real estate are also growing significantly, providing the much-needed
infrastructure for India's growing needs.
Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for
office space in recent times. Commercial office stock in India is expected to cross 600 million
square feet by 2018 end while office space leasing in the top eight cities is expected to cross 100
million square feet during 2018-20. Grade-A office space absorption is expected to cross 700
million square feet by 2022, with Delhi-NCR contributing the most to this demand.
Investments/Developments
The Indian real estate sector has witnessed high growth in recent times with the rise in demand
for office as well as residential spaces. Private equity investments in real estate are estimated to
grow to US$ 100 billion by 2026 with tier 1 and 2 cities being the prime beneficiaries. Private
Equity and Venture Capital investments in the sector reached US$ 2.99 billion during January-
August 2018.
According to data released by Department of Industrial Policy and Promotion (DIPP), the
construction development sector in India has received Foreign Direct Investment (FDI) equity
inflows to the tune of US$ 24.87 billion in the period April 2000-June 2018.
Some of the major investments in this sector are as follows:

8
 In September 2018, Embassy Office Parks announced that it would raise around Rs 52
billion (US$ 775.66 million) through India’s first Real Estate Investment Trust (REIT)
listing.
 New housing launches across top seven cities in India increased 50 per cent quarter-on-
quarter in April-June 2018.
 In May 2018, Blackstone Group acquired One Indiabulls in Chennai from Indiabulls Real
Estate for around Rs 900 crore (US$ 136.9 million).
 In February 2018, DLF bought 11.76 acres of land for Rs 15 billion (US$ 231.7 million)
for its expansion in Gurugram, Haryana.

9
 Chapter 2: Advertisement Industry: Digital v/s Traditional Media

While having a marketing budget is important for any small business, it’s equally important to
spend it in the right direction and make the most of it. How do you know where to spend it when
it comes to digital marketing v/s traditional marketing?

For many businesses, reaching the right “marketing” decision is not easy, even though it can
make a huge difference in their results.

By gaining clarity on the digital marketing v/s traditional marketing aspect, a business can get a
better idea of which marketing method is appropriate and how it is should be applied. For
instance, if you decide to use social media marketing to build your brand and increase your
customer base, you could do it yourself or hire a reputed digital marketing firm like LYFE
Marketing to take care of it.

Running a successful business is not just about choosing the appropriate market or having a high
quality product. It’s also about leveraging the right kind of marketing techniques in order to reach
out to your target audience and convert them into leads or customers.  Some businesses may give
less preference to marketing, but if any serious business wants to increase profits, it will almost
always have set aside a proper budget for marketing.

10
Even if you do acknowledge the need for effective marketing, the whole digital marketing vs
traditional marketing debate might stump you. The reason for this confusion may arise due to the
fact that even though a lot of marketing is done in the traditional way, digital marketing is
steadily gaining an edge.

Yes, there are a percentage of people who don’t use the Internet for conducting any transactions.
However, a considerable chunk of the population is regularly using the Internet for multiple
purposes, including making their day-to-day transactions.

As a business, you need to ensure that you are ahead of your competition. Which means you
cannot just depend on outdated marketing methods anymore. You need to look beyond and
understand how you can leverage the latest digital marketing techniques to grow your reach.

Before we get into the nitty gritty details of digital marketing vs traditional marketing, let’s first
look into some of the basic ideas you need to understand clearly.

11
2.1 Digital Marketing v/s Traditional Marketing: What is Traditional?

Traditional marketing is nothing new as it’s a form of marketing that we have been exposed to at
one point or another. It is a conventional mode of marketing that helps to reach out to a semi-
targeted audience with various offline advertising and promotional methods.

Traditional marketing is a type of marketing that is hard to ignore and includes the traditional ads
we encounter on a daily basis. Many of the common and most tried offline marketing tactics
come under the following five major categories:

 Print (magazines, newspapers, etc.)

 Broadcast (TV, radio, etc.)
 Direct Mail (catalogues, postcards, etc.)
 Telephone (telemarketing, sms marketing, etc.)
 Outdoor (billboards, fliers, etc.)

Traditional marketing may have evolved over the past few decades, but the fundamental aspects
remain the same. The selling techniques that we use today heavily rely on the infamous four P’s
of marketing: product, price, place, and promotion.

Every successful business knows how integral it is to create a proper sales funnel. By leveraging
the four P’s of marketing, a business can actually lead its prospects and customers through any
sales funnel and see favorable results.

12
Let’s take a brief look at each of the 4 P’s that power every form of marketing technique:

 Product: Effective marketing starts with a good understanding of your own product.

Which could be an intangible service or type of a good that fulfills the demand of a target
market.

 Price: The overall cost of the product depends on how well you know it. Price is always
the determining factor when it comes to things like supply, demand, profit margin, etc. 

 Promotion: How you get the word out about your product and market it to your target
audience is promotion. Any method that helps you promote the product and help it gain
more visibility/exposure comes under promotion — whether it is advertising on a
billboard or setting up an ad campaign on Facebook.

 Place: Traditional marketing heavily relies on getting your product in front of your target
audience at the right time and place. Which also means pricing it right. In the marketing
world, placement plays a crucial role. Because when a product is placed in an ideal
location, the chances of converting prospects to customers or clients increase manifold.

On the surface, digital marketing may look different than traditional marketing in a big way as it
is all about the fourth P: promotion. However, the fact of the matter is, digital marketing is highly

13
effective because it does not ignore any of the four Ps of marketing. It rather uses each one of
them in a unique manner, and sometimes even better than traditional marketing.

Digital Marketing vs Traditional Marketing: Downside of Going Traditional

While traditional marketing is still effective, it’s not the only way to make your product popular
among your target market. Today, technology has grown and is enabling businesses to connect to
their audience like never before. Which is why it’s important to consider the drawbacks of
traditional marketing before investing in it.

 Little Interaction

One of the biggest and the most obvious limitations of digital marketing is that there is little or no
interaction between the customers and the medium used for marketing.

Traditional marketing is a one way street where a business is able to broadcast or provide
information to their target audience about its product or service. This brand building exercise is
done in the hope to attract the attention of the right people and maybe convert them into
customers.

14
  No Control Over Timing

Traditional marketing is dependent on promotional methods that once executed cannot be

updated. Whether it is a static text print ad in your local newspaper or a television commercial,
you will have to place a new ad to replace the old one in case of any change. While this may not
seem like a huge factor, but it does make a big difference in the long run. 

For instance, let’s say you run a magazine ad promoting your latest widget. After which, you
make a major update to it that can make a significant impact to the sales numbers. Can you
change the ad on fly? Of course not, which can put a huge dent in your marketing budget
overtime.

 Higher Costs

The recurring costs in traditional marketing can prove to be a huge investment that may or may
not give a good return. Your ad in the local newspaper will only be effective if it is seen by your
target audience on the day it gets published. And what are your chances of that?

If you want to reach out to them again, you need to create and run a new print ad campaign. Or
when you create and distribute posters or fliers in your area, it’s an investment you are making
for a one time exposure. Compare that to content that you create on your website that can bring in
target visitors for years to come at no additional cost.

 Limited Customization Options

Do you want to target customers working in a certain industry and fall in particular age group?
Traditional marketing offers you little help when it comes to customizing your campaign and
targeting a specific customers. 

Even though you can use traditional marketing techniques to market to certain segments, you
cannot go after targeted customers. When you’re using online ads, you have the option to not
only reach out to the right kind of customers, but also show them offers that are tailored towards
them.

15
  Inability to Disclose Full Pricing Details

At the basic level, traditional marketing has never failed to attract people based on discounted
prices or special sales. However, when it comes down to offering more unique, customized
pricing options, you may hit a brick wall. If you analyze the options given to you in print
marketing, you may not find the needed space to display all your pricing options – even though
these can help you convert more people into customers. 

 Poor Campaign Measurement

When executing a traditional marketing strategy, it is essential to know how effective it is to

ensure you’re not investing in the wrong direction. Unfortunately, results that you get from
traditional marketing cannot be measured easily and efficiently. 

However, when you launch an online marketing campaign, you can effortlessly identify where
you are going wrong and if it is successful or not. This alone makes digital marketing much better
than its traditional counterpart.

16
2.2 Digital Marketing vs Traditional Marketing: What is Digital?

Digital marketing or online marketing refers to the marketed related work that a business does
through the Internet or an electronic device such as a mobile phone. Any business (regardless of
its size) can leverage digital marketing to reach out to their target market, connect with prospects
and convert more of them into customers/clients. Everything from search engine marketing to
Facebook marketing comes under digital marketing. And we offer an array of digital marketing
services here at LYFE. Feel free to check them out and see which ones might be best for your
business.

The reason why digital marketing is crucial for a business today is because the Internet is
becoming one of the most used tools. More and more people are logging on the web to carry out
their day to day activities, which includes purchasing goods and services.

If you look at the past decade you’ll see that online marketing has grown exponentially. So when
it comes to digital marketing vs traditional marketing, it’s clear that that digital as a definite edge.

Successful marketing requires a business to connect to prospects and customers in the best
possible way, so that there is an actual return on the investment. Given the fact that a large

17
majority of people (especially the Millennial(s) are spending their time on the Internet, it makes
sense for you, as a business, to connect to them on it.

As technology grows and the new digital ideas are brought to life, the digital marketing world
grows with it. One of the reasons why it continues to deliver results is because it is a form of
inbound marketing. Which means, instead of you going out there to find people, they find you.
Whether it is running an advertisement on Google or creating marketing related content for your
blog, it’s all about attracting your target audience and spreading awareness.

The idea is to get out there and gain exposure. Because the more people know about your
website, your brand and the products you sell, the more familiar they become with your agenda.
Which eventually leads to close relationships or bonding that is developed on the basis of trust.

Being a business, the Internet offers you a way to build an authority in your niche and grow your
online presence like never before.

18
2.3 Digital Marketing vs Traditional Marketing: What Do the Stats Say?

Keeping the current growth of digital marketing in mind, particularly in the U.S., it won’t be long
before digital ad spend takes over traditional advertising such as television ads. As of today, 60%
of marketers across various industries have already shifted their efforts towards digital marketing.

Here are some more stats to help you understand the growth and prominence of digital
marketing…

More than 80% of shoppers/buyers do their research online before investing in a product/service.

Almost 60% of U.S. adults use Facebook on a regular basis.

94% of B2B marketers are actively using LinkedIn for marketing.

Mobile will be accounting for over 70% of digital ad spend by 2019.

90% B2C businesses report social media as being the most effective content marketing tactic.

Regardless of the business you are in, you need to take the importance of digital marketing into
consideration. Or else you may lose out to competition that is taking advantage of the latest
digital marketing techniques.

19
Now, truly understanding digital marketing trends and applying methods that are suitable for
your business may not be your specialty. It may take a considerable amount of time and
investment to see favorable results. In such a scenario, working with a specialized digital
marketing agency like ours can help you get a high return on investment. Contact us if you’d like
to discuss your digital marketing campaign.

20
2.4 Digital Marketing vs Traditional Marketing: Where to Invest?

Setting a marketing budget is one thing, but making sure you get a good return on your
investment is something else. Which is why it makes sense to focus only on those marketing
channels and methods that are more likely to give you the best bang for your buck.

The digital marketing vs traditional marketing debate is age old, and it’s far from over. However,
given the advancement in technology, there is no denying the fact that digital marketing can help
a business generate qualified leads/sales without putting a dent in the wallet. The risk is definitely
smaller when compared to traditional marketing.

If you look around, you’ll find businesses of all sizes taking advantage of digital marketing,
especially because of the lower cost/barrier to entry when compared to offline marketing methods
such as print advertising. Even though print ads can help in brand building, digital marketing can
assist a company in building a strong foundation for effective promotion. And it can be done with
a much smaller budget.

 Investing in Print Ads

There’s no doubt that print ads can work great if done properly. However, without consistency,
print advertising will fail to give favorable results. Whether you choose to advertise in a major

21
magazine or your local newspaper, you need to be ready to spend huge money over a long period
of time.

Also, when it comes to print ads, what many businesses fail to understand is the circulation
aspect. The number of readers who actually see your ad will be less than the number of
magazines in circulation. Because a good percentage of magazine issues will almost always go
unsold.

 Investing in Digital Ads

Digital ads are more customizable than print ads, which makes them less risky. For instance, if
you are running a search campaign, you can target your ad to a certain audience and change it
later on. Making adjustments and tweaking your ads according to real-time data is simply easier.

Then comes the question of CPM, which can be pricey with magazine ads. According to Gaebler,
a full page (black and white) ad costs close to $120k, for a CPM of $50 USD. Compare this to a
digital marketing channel such as Google Display Ads, where you are charged per click, rather
than per impression. Which means CPM can in some cases cost you zero dollars. So if you are a
business with a limited budget and want to increase your chances of success, digital marketing
may be your best bet.

22
2.5 Digital Marketing vs Traditional Marketing: Why Choose Digital

For some brands, especially the well-established ones with a huge offline audience, traditional
marketing may be too expensive to ignore. But for the many small businesses that are trying to
make a mark on a tight budget, digital marketing can prove to be a savior. Which is why many
new and old businesses are leveraging the power of digital marketing and rethinking the
marketing funnel.

 Higher Level of Customer Engagement

Traditional marketing doesn’t allow direct interaction with customers, whereas digital marketing
offers a higher level of engagement and interaction. Whether it is through social media comments
or email messages, your target audience is instantly connected with you through various digital
marketing channels. 

23
Your brand can also easily build better and long lasting relationships with customers by
interacting with them via video, surveys or webinars. Your business performs better when it runs
in conjunction with the requirements of your customers. And digital marketing lets you do that as
you can engage with customers and solve their issues/problems without wasting time.

 Ease of Measuring Results

When you give away brochures, distribute fliers or advertise in magazines, you don’t know how
far your marketing is going to be successful. You may be headed in the wrong direction, but
there’s no way to tell. Unlike traditional marketing, digital marketing lets you measure results. It
allows you to play a clear-sighted marketing game, rather than a blind one. 

You have access to a ton of information about your prospects and customers to help you
understand where you are going. Right from how many people are visiting/leaving your website
to what percentage of them are converting. Imagine the level of tweaking/testing you can do with
digital marketing, which is literally absent in traditional marketing.

24
  Bigger Audience Range

Traditional marketing is limited in many ways, but one of the biggest restriction that comes with
it is the inability to go beyond a regional or local audience. Your business may not be
geographically-bound, so why limit your reach?  Using digital marketing, you can create a highly
customized campaign and widen your reach to different cities or even different countries. So say
goodbye to the blanket approach that traditional marketing takes and say hello to digital
marketing that lets you alter your campaign based on how far you want to go.

 Less Expensive & More Effective

When it comes to spending money on marketing, your return on investment decides whether your
campaign was successful or not. There’s no surprise that digital marketing fetches you a better
ROI because it’s cheaper than traditional marketing/advertising in more than one way. Would
you rather invest in an advertisement where you pay based on performance or in a costly
newspaper ad that is seen by a limited audience? Digital marketing allows you to spend less
while gaining more. For many businesses, it’s a no brainer.

25
  Chapter 3: Top Real Estate Player in India

1. Lodha Group

Established in 1980, the Lodha Group is India’s premiere real estate developer headquartered in
Mumbai, With over 1000 of India’s best and brightest professionals, the group is currently
developing in excessof 29 million square feet of prime real estate over 38 projects in and around
Mumbai from Napean Sea Road to Dombivili, making it the largest developer in Mumbai and
one of the largest in the country. According to J P Morgan Property Report 2008, the Lodha In
2010, the group completed the construction of towers that at 225 meters are amongst the tallest
structures not only in Mumbai but also in India. In 2009, the company emerged as the number 1
unlisted developer in the country, the number 1 developer in Mumbai and the number 1 real
estate brand in the city^. The group has several innovative first to its credit, be it Lodha
Bellissimo" the only Indian residential development to feature amongst the top 1000 landscapes
in the world, LodhaGolflinks" Mumbai’s first Golf development or Palava" 21st
century India’s foremost planned city spread over 5000 acres

2. Godrej Properties Limited

Established as GPL in 1990. One of the first real estate companies of Adi Godrej group to have
obtained the ISO certification. Upcoming development of over 82 million sq ft. Prime locations,
good value, excellent construction and efficient support. Godrej aspire to be among the nation’s
top 3 real estate companies, while continuing to be the most trusted name in the industry. They
want to deliver superior value to all stakeholders through extraordinary and imaginative spaces
created out of deep customer focus and insight.

26
 3. Oberoi Realty

Their impact on life is all-encompassing, be it the comfort of a home, efficiency in the office,
recreation, shopping or space to learn and grow. At Oberoi Realty it is a constant quest and an
abiding commitment to ensure that the relationship between these spaces and the lives ensconced
in or around, feel truly enriched - enhanced by understanding what a discerning lifestyle
demands. Enhancing lives is almost a cultural constant, a lens through which we envision our
every project and each minute detail in it - we are committed to ensure that the experience is
rewarding.

Mumbai, the ever-evolving and reverberating city, is in a constant quest for spaces that can not
only accommodate but also build efficiencies for its everyday flight of ambition and purpose-led
growth. In the Eighties, the city witnessed a dramatic and paradigm shift in its equilibrium from
the southern island towards the suburbs. New enterprises, office spaces and the highly-educated,
upwardly mobile, 'red- blooded' rich demanded world-class living spaces in the emerging areas of
Mumbai. It is in this backdrop that Oberoi Realty took its roots, over three decades ago with a
view to redefine living - delivering the cutting-edge with best global parameters to match or
surpass.

27
 Company Total Avg visit Pages Bounce Visit per Traffic
Visit duration per visit rate country Source
Lodha 370.54K 1min 2 sec 1.73 75.21% India – Search -
pages 79% 61.85%

US – Referrals –
6.57% 12.54%

UAE – Direct –
2.48% 12.65%
00
Godrej 252.82k 1min 1.74 74.77% Sudan – Direct –
Properties 36sec 65.42% 77.47%

India – Search –
29.32% 16.51%

US – Referals –
2.27% 1.84%
Oberoi 51.97k 1min 1.76 79.90% India – Search -
90.23% 56.25%

Us – Display –
4.61% 14.72%

UAE – Direct
2.37% 14.58%

Referals –
1.36%

28
Companies Referral Destinatio Organic Organic Paid Social
source n sites search v/s keyword keyword Presence
paid s s
search
Lodha Lodha Lodha 92.9 – Lodha Lodhaam 4.98%
grp.com luxury – organic NCP – ara – (YouTube –
– 33.60% 23.21% 1.61%, 80.74%,
91.26% 7.1 paid Facebook –
Palava – search Lodha – Lodha 19.26%)
Wiki – 30.49% 14.92% Mira
6.87% road –
Mylodha.c Lodha 1.61%,
Socialkin om – group –
nect.com 12.41% 10.82% property
– 0.62% in
Mumbai
low
budget –
0.72%
Godrej Adzopia. 19.97 – Godrej Godrej 1.2%
Properties net – organic propertie aqua – Facebook –
68.42% search s-25.96% 6.18%, 70.48%,
20.03 –
Theirsve paid Godrej Godrej YouTube –
ndor.com search propertie rejuve – 17.82%,
– s– 3.58%,
15.72% 4.66% ning.com –
Godrej 7.15%,
Teludu.o Godrej reserve –
neindia.c realty – 1.72% Quora –
om – 4.52% 4.56%
2.63%
Oberoi Wiki – 92.13% - Oberoi Mulund 8.95%
100% search realty – buy 3bhk YouTube –
7.87 – 65.95% – 2.23%, 86.84%,
paid
Oberoi Jogeshw Facebook –
realty ari 13.16%
investor property
relations – 2.23%,
– 4.13%
3
i-ven bedroom
mall apartmen
Oberoi – t in
2.61% Mumbai
– 2.13%

29
30
 Chapter 4: Literature Review:

Technology plays a vital role in improving the quality of services provided by the business units
(Khan and Mahapatra, 2009). The technology of internet has brought a revolution in the field of
information sharing and. Internet is already playing a vital role in real estate sales and promotion
and with the advent of more internet penetration it is all set to grow. Thompson (2005) remarked
that the growth of Internet technology has enormous potential as it reduces the costs of product
and service delivery and extends geographical boundaries in bringing buyers and sellers together.
Melody and Robert (2001) remarked that the Internet can provide timely information to
customers because of its ability for instant communication, and its availability. The Internet is an
extremely effective medium for accessing, organizing, and communicating information. Peterson,
et al. (1997).
(https://www.researchgate.net/publication/280943266_FUTURE_OF_ONLINE_MARKETING_
IN_REAL_ESTATE )

When the Internet was invented, it began to change the way that people buy and sell. Real estate
is no exception, although it is admittedly not as easily sold as an ottoman on Amazon.com. In
1998, as the Internet began to exert its vast selling powers, Kelvin Childs wrote an article
discussing the difficulties of converting classified advertisements from paper to web. For years,
newspapers had been publishing real estate advertisements. Toward the end of the 1990’s,
newspapers began their slow decline and internet searches became more common and popular.
However, the language used in print advertisements was drastically different from what was
needed to be picked up by internet search engines. Terminology was the largest difficulty and
biggest area for change, according to Childs. Newspaper publishers had to identify a set of
standards for online classified ads. Once those were in place, search engines would pick up the
listing more easily and people would be more likely to access the kind of real estate they were
looking for. Thus began the initial transition from print to screen, from traditional to modern.
Although social media had yet to arrive, Childs identified a lag between how real estate agents
were marketing and what was actually working. More recently, Benn Rosales and Lani-Anglin
Rosales, two real estate agents who aggressively use social media, have made national headlines
(Hudson 2008). They started their own online real estate magazine titled Agent Genius. Lockett

31
chronicles the lack of social media presence in many cases, but also mentions that the number of
blogs put forth by real estate businesses doubled in one year. In 2007 only four percent of realtors
ran a blog and by 2008, it had risen to eight percent. The National Association of Realtors
expected that number to rapidly rise in coming years. Kendall 33 Of course, communication and
social media experts often do not fit the typical real estate profile. The business has long relied on
referrals and nominations. It is interesting then to note that the Rosales’ online efforts drew
attention from a communication industry expert. Connie Reece, founder of Austin social media
consortium Every Dot Connects, said Agent Genius provides a valuable service in their industry.
The Rosaleses "are doing a remarkable thing in helping to share the new tools and tech with those
in the real estate business," Reece said. "They're getting discussions going on among brokers and
agents, and kind of pooling their resources." The industry at large still has catching up to do, she
said. "I frankly have been surprised that I have not seen more real estate brokers and agents use
social media." (Hudson 2008) The Rosaleses’ account corroborates with Louise Tanguay and
Matt Anderson’s story. The husband-and-wife team own a business called The Sleep Store,
which started off as a website run out of their home (Hopkins 11). Their business caters to
helping children from infancy to six years old sleep well. In 2010, the couple began to use social
media to communicate with their customers and found themselves surprised by the resulting
explosive growth their business experienced. They promoted their Facebook page as part of an
online community for parents and children, launching competitions for the most “likes” and put
advertising banners for Facebook on their homepage and on all staff e-mail signatures. Louise
reports currently spending approximately half of her work day on their social media accounts,
largely because their Facebook page led to doubling their gross sales and led to the (positive)
need for three additional staff members to support The Sleep Store’s increased business (10).
Kendall 34 These types of small-business success stories, centrally focused on social media
reach, are testimonies to the power of properly-harnessed social media marketing. By April of
2011, smart phones became a commonality for many. The iPhone introduced the world to “apps,”
the technology lingo for applications (programs) that are downloadable to phones. Many
businesses have developed apps in order to further integrate with customers. Jones Lang LaSalle,
a leader in commercial real estate, put an app out in spring of 2011 and PRNewswire reported on
the changing face of the market (“New”). Their Chief Information Officer, David Johnson, said it
was only the latest in their effort to become more prominent in user-friendly media: Creating an
app for iPhone is an important step in our ongoing efforts to lead the conversation on commercial
real estate trends. In recent years, we have expanded our channels of communication to

32
encompass LinkedIn, Facebook, YouTube and Twitter, complementing our online presence at
www.joneslanglasalle.com and our media outreach, which can be found in our Press Room.
(“New”) At any rate, some individuals and corporations in the business have begun to realize the
potential that lies in social media. But just because the market is changing does not necessarily
mean that people are not persuaded in the same manner that they always have been. Those selling
will always wonder what will be the deciding factor for their buyers, always trying to anticipate
how they can best appeal.
(https://digitalcommons.liberty.edu/cgi/viewcontent.cgi?article=1315&context=masters )

33
 Chapter 5: Research Methodology

 Type of research: Exploratory research was done to collect the secondary data, the
secondary data was collected from various company websites and various research
papers, and the primary data was collected by 2 ways, one by interviewing and getting
information from the channel partners and the other in form of questionnaire which
was sent to the audience, was a part of the descriptive research.

 Research Design: The research conducted is applied research. Mode of enquiry is

qualitative as well as quantitative. The purpose of the research was to understand the
impact of digital advertisement on real estate purchasing.

 Data Collection: The information used in this project was through primary sources
i.e. personally interacting with the channel partners and getting the first hand
information and also a detailed questionnaire was filled by the audience to understand
the customer .Convenience sampling technique was used while taking the interviews
of the respondents. References from online articles and reports have also been taken
as part of secondary research

 Research instrument: The instrument that was chosen to conduct the research was
that of “structured questionnaire”. A list of questionnaire was prepared which could
give relevant information when answered by the respondents.\

 Sample size: Sample Size of 153respondents was selected

 Sampling method: Convenience sampling was done, that is the questionnaire was
circulated online to the respondents and were filled by them according to their
convenience.

34
 Limitations of this study: Due to lack of resources and time the survey was
conducted on the recent home buyers. Respondents may have been biased towards
some questions.

 Scope for future research: This study can be conducted in other cities of India to get
a holistic approach of the importance of internet marketing in real estate. Expanding
the demographic variety can also help in understanding the future potential of online
presence and marketing in real estate industry.

35
 Chapter 6: Qualitative data – Channel Partner

1 2 3 4
       
Harun Shaikh Soham Chaudhary Vishal Manoj
 
Social media
Telecalling and SMS marketing (pop ups Digital marketing banner on
Conventional blast on sat and sun and ) particular websites
Reference from
existing customer  
100 clicks and 4
  250 calls and 4 leads genuine leads 5 genuine leads in 50 clicks
 
    Cp's Numbers is given in the advertisement
       

Client coming from cp will get a discounted price Cp ladder and its flexible
       
    lead max generated magic bricks 99acres
advantage that they can understand the
customers need properly    
      lead conversion max
 
      genuine leads
 
one on one interaction one to many interaction

A deep informative conversation was conducted with a total of 4 channel partners around
Mumbai in the real estate industry. They details of the conversation is consolidated in the above
table. Out of the 4 channel partners, 2 channel partners followed the traditional and conventional
modes of marketing to reach to their target audience and to generate leads for the real estate
organizations. Similarly, the other 2 channel partners are making optimum use of the technology
and using digital platforms to generate leads. The channel partners have different CP ladders
which differ from company to company. These CP ladders motivates them to engage more
customers and generate a higher number of walkins to the site. The CP ladders are prizes and
gifts which are over and above the incentives that is given to the channel partners.

When the 4 channel partners were asked, which one is more effective, the conventional medium
of marketing or the modern or the digital medium of marketing, hey said that it should be the best

36
of both, that is the traditional and the digital modes of marketing. The digital medium will help in
a wide spread of information in a short span and also in a cost effective way, whereas, the
traditional medium of marketing gives a personal touch to the client, as home buying is a very
emotional and conscious decision to make. A personal touch tough calling and understanding the
customer need will help in engaging the customers and also understand the specifications that the
customers has in his mind. This will help the channel partners pitch the right product to the right
customer in a systematic and a cost effective way. Digital marketing will help to reach the
masses and show the graphical representation of the project to the customers, through which one
can understand the project in detail. And traditional marketing will help the customer to have a
deeper understanding about the project and to interact with the channel partners and have a
connect indirectly with the company, as after all home buying is an emotional process which
cannot be done or understood only digitally.

37
 Age

11%

13%

12%
64%

30-35 36-40 41-45 46 and above

Chapter 7: Quantitative data: Customer Survey

Age of the Respondent

Cumulative
Frequency Percent Valid Percent Percent

Valid 30-35 98 64.1 64.1 64.1

46 and above 30 19.6 19.6 83.7

36-40 18 11.8 11.8 95.4

41-45 7 4.6 4.6 100.0

Total 153 100.0 100.0

Out of the total respondents of 153 that were surveyed 64.1% of the respondents that is 98
respondents were between the age group of 30-35 years of age. 11.8% that is 18 respondents
were between the age group of 36-40 years of age. 4.6% that is 7 respondents were between the
age group of 41-45 years of age. And 19.6% that is 30 respondents were between the age group
of 46 and above years of age.

38
 Income of the Respondent

Cumulative
Frequency Percent Valid Percent Percent

Valid 8.00-10.99 92 60.1 60.1 60.1

11.00-13.99 27 17.6 17.6 77.8

14.00-16.99 18 11.8 11.8 89.5

17.00 and above 16 10.5 10.5 100.0

Total 153 100.0 100.0

Income ( lakhs per annum)

Out of
the
10% total
12%

18% 60%

8.00 - 10.99 11.00 - 13.99 14.00 - 16.99 17.00 and above

respondents of 153 we see that 60.1% of the respondents that is 92 respondents come under the
income gap of 8.00 to 10.99 lacks per annum. 17.6% that is 27 respondents come under the
income gap of 11.00-13.99 lacks per annum. 11.8% that is 18 respondents come under the
income gap of 14.00-16.99 lacks per annum. And 10.5% that is 16 respondents come under the
income gap of 17.00 lacks and above per annum.

39
 First time buyer of the property

Cumulative
Frequency Percent Valid Percent Percent

Valid Yes 109 71.2 71.2 71.2

No 44 28.8 28.8 100.0

Total 153 100.0 100.0

First ti me Buyer
When
the

29%

71%

Yes No
respondents were asked if they were a first time buyer of the property is was seen that 71.2% that
is 109 respondents were the first time buyers and 28.8% that is 44 respondents had made real
estate purchases earlier.

40
 Used internet to get details before purchasing the property

Cumulative
Frequency Percent Valid Percent Percent

Valid Yes 128 83.7 83.7 83.7

No 25 16.3 16.3 100.0

Total 153 100.0 100.0

Usage of Internet before buying property

When
the
16%

84%

Yes No

respondents were asked if they used internet to get details before purchasing the property it was
seen that 83.7% that is 128 respondents did use internet to get information whereas, 16.3% that is
25 respondents used the traditional modes to gain information.

Used mobile application to search for a property before purchasing

Cumulative
Frequency Percent Valid Percent Percent

Valid Yes 90 58.8 58.8 58.8

No 63 4141.2 41.2 100.0

Total 153 100.0 100.0

 Usage of mob app before buying property

41%

59%

The

Yes No

respondents were asked if they used mobile application to search for property before purchasing
and it is seen that 58.8% of the respondents that is 90 respondents agreed to it, whereas, 41.2%
that is 63 respondents said that they did not use mobile applications to search for properties
before purchasing.

Watched any video that helped in your purchase decision

Cumulative
Frequency Percent Valid Percent Percent

Watch
Valid video before
No 86 making
56.2 purchase
56.2 decision
56.2

Yes 67 43.8 43.8 100.0

Total 153 100.0 100.0

44%

56%

42

Yes No
The respondents were asked if they had watched any video that helped their purchase decision, to
which it is seen that 56.2% that is 86 respondents agreed to the question whereas, 43.8% that is
67 people did not agree that the video helped in their purchase decision of the property.

Time spent online before contacting agent

Amount of time searched on internet before contacting the agent
Time spent online before contacting agent
70 Cumulative
62 Frequency Percent Valid Percent Percent
60
Valid 1 month 62 40.5 40.5 40.5
50
2 months 44 44 28.8 28.8 69.3
40 More than 3 months 28 18.3 18.3 87.6

30 3 months 19 12.4 12.4 28 100.0

Total 153 100.0

19 100.0
20

10

0
1 month 2 month 3 month more than 3 month It was
seen
that 40.5% of the respondents invested 1 month to search and get information about the property
on internet before contacting the agent, 28.8% or the respondents invested a time of 2 months,
12.4% or the respondents invested 3 months and 18.3% of the respondents invested more than 3
months of their time to search on internet before contacting the agent to buy a property.

43
 Time taken to make a purchase decision

Cumulative
Frequency Percent Valid Percent Percent

Valid 2-3 months 60 39.2 39.2 39.2

More than 6 months 38 24.8 24.8 64.1

3-6 months 35 22.9 22.9 86.9

1 month 20 13.1 13.1 100.0

Total 153 100.0 100.0

Time taken to make purchase decision

Time taken to make purchase decision
70
It was
60
60
seen
50 that
40 38 39.2%
35
of the
30
20
20

10

0
1 month 2 - 3 month 3 -6 month more than 6 month

respondents took 2-3 months of time to make a purchase decision for a real estate property.
24.8% of the respondents take more than 6 months to make a purchase decision. 22.9% of the
respondents take 3-6 months to make a purchase decision. And only 13.1% of the respondents
take 1 month to make a purchase decision of a real estate property.

44
 Have you ever followed or interacted with a real estate agent on social
media

Cumulative
Frequency Percent Valid Percent Percent

Valid No 91 59.5 59.5 59.5

Yes 52 34.0 34.0 93.5

Maybe 10 6.5 6.5 100.0

Total 153 100.0 100.0

Interacted with agent in social media

It was
seen

7% that
39.2%
34%
of the

59%

Yes No Maybe

respondents took 2-3 months of time to make a purchase decision for a real estate property.
24.8% of the respondents take more than 6 months to make a purchase decision. 22.9% of the
respondents take 3-6 months to make a purchase decision. And only 13.1% of the respondents
take 1 month to make a purchase decision of a real estate property.

45
 Do you find it difficult to understand information about real estate market

Cumulative
Frequency Percent Valid Percent Percent

Valid No 63 41.2 41.2 41.2

Yes 58 37.9 37.9 79.1

Maybe 32 20.9 20.9 100.0

Total 153 100.0 100.0

Find diffi cult to understand informati on about real

estate

Then
21% the
38%

41%

Yes No Maybe

respondents were asked if they find it difficult to understand information about real estate market,
41.2 % that is 63 respondents refused and 20.9% that is 32 respondents were not sure.

46
 SItuati ons

100
90 86

80
70 65
62
59
60 54 54
50 47 47 49 45 46
43 42
40 38
40 35
29 31
30 28
25 24 24 25 24
20 20 20
20 15 15
12 13 12 13
8 10 11 8
10 6 7
1
0
OA is cost OA helps Trust OA Trust OA - of Real estate OA can Brokers gives Prefer to give
effective company to real estate using OA replace discount commision
connect with industry effectively conventional
TA one
Strongly Disagree Disagree Neutral Agree Strongly Agree

I think online advertisement helps company to easily connect with TA

Cumulative
Frequency Percent Valid Percent Percent

Valid Agree 62 40.5 40.5 40.5

Neutral 43 28.1 28.1 68.6

Disagree 25 16.3 16.3 85.0

Strongly Agree 22 14.4 14.4 99.3

Strongly Disagree 1 .7 .7 100.0

Total 153 100.0 100.0

40.5% of the respondents think that online advertisement helps a company to easily connect to
their target audience, whereas, only 0.7% of the respondents do not feel that online advertisement
helps compant to easily connect to their target audience.

47
 I trust online advertisement

Cumulative
Frequency Percent Valid Percent Percent

Valid Neutral 86 56.2 56.2 56.2

Disagree 24 15.7 15.7 71.9

Agree 24 15.7 15.7 87.6

Strongly Agree 11 7.2 7.2 94.8

Strongly Disagree 8 5.2 5.2 100.0

Total 153 100.0 100.0

Out of the total respondents 7.2% of the respondents strongly agree that they trust online
advertisement and 5.2% of the respondents feel that they cannot trust online advertisement. But
56.2% of the respondents are neutral about their perception about online advertising.

I trust online advertisement of real estate industry

Cumulative
Frequency Percent Valid Percent Percent

Valid Neutral 65 42.5 42.5 42.5

Agree 40 26.1 26.1 68.6

Disagree 29 19.0 19.0 87.6

Strongly Disagree 11 7.2 7.2 94.8

Strongly Agree 8 5.2 5.2 100.0

Total 153 100.0 100.0

26.1% of the respondents that is 40 respondents agree that they trust online advertising of real
estate industry , whereas, 42.5% of the respondents are neutral about it.

48
 I can confidently say that real estate players are not using the online medium
effectively

Cumulative
Frequency Percent Valid Percent Percent

Valid Neutral 54 35.3 35.3 35.3

Agree 35 22.9 22.9 58.2

Disagree 31 20.3 20.3 78.4

Strongly Agree 26 17.0 17.0 95.4

Strongly Disagree 7 4.6 4.6 100.0

Total 153 100.0 100.0

22.9% of the respondents feel that real estate players are not using online medium effectively,
whereas, 35.3% are neutral about it. And 4.6% of the respondents strongly disagree to the above
statement.

I believe online advertisement can replace the conventional medium

Cumulative
Frequency Percent Valid Percent Percent

Valid Agree 49 32.0 32.0 32.0

Neutral 47 30.7 30.7 62.7

Strongly Agree 29 19.0 19.0 81.7

Disagree 20 13.1 13.1 94.8

Strongly Disagree 8 5.2 5.2 100.0

Total 153 100.0 100.0

32% of the respondents feel that online advertisements can replace the conventional medium and
only 5.2% of the respondents strongly disagree to the above statement.

49
 I feel buying a flat via brokers will helps me in getting some discount

Cumulative
Frequency Percent Valid Percent Percent

Valid Neutral 45 29.4 29.4 29.4

Agree 42 27.5 27.5 56.9

Disagree 38 24.8 24.8 81.7

Strongly Agree 16 10.5 10.5 92.2

Strongly Disagree 12 7.8 7.8 100.0

Total 153 100.0 100.0

The respondents were asked if they buy the property from brokers will help them get discounts
and 29.4% of the respondents were neutral about it, 27.5% of the respondents agreed to the
statement and 24.8% of the people disagreed to the statement asked.

I prefer to give commission and appoint a broker to find a house for me

Cumulative
Frequency Percent Valid Percent Percent

Valid Neutral 54 35.3 35.3 35.3

Agree 46 30.1 30.1 65.4

Disagree 24 15.7 15.7 81.0

Strongly Disagree 15 9.8 9.8 90.8

Strongly Agree 14 9.2 9.2 100.0

Total 153 100.0 100.0

35.3% of the respondent say that they are neutral about giving commission and appoint a broker
to find a house for them, whereas, 30.1% of the respondents agree to the statement.

50
 Parameters
90
80
70
60
50
40
30
20
10
0
Club House Design Payment Accessibility Outdoor Play Swimming Gym Parking
Terms Area / Pool Space
Garden

1 2 3 4 5

Rotated Component Matrixa

Component

1 2

Accessibility .903

Payment Terms .879

Design .825

Parking Space .683 .502

Swimming Pool .841

Gym .812

Club House .741

Outdoor play area/ Garden .502

Extraction Method: Principal Component Analysis.

Rotation Method: Varimax with Kaiser Normalization.

a. Rotation converged in 3 iterations.

In the above table we can that the total respondents are divided into 2 sets. The first set of
respondents feels that the factors such as Accessibility, Payment terms, Design. And the second
set of people feel that the factors such as Swimming pool, gym, club house, outdoor play area and
gardens are important. Through this we can infer that the first set of people feel that the factors
one considers before possession are important and the second set of respondents feel that the
factors or the facilities that can be used pose possession of the property are important

51
 Rotated Component Matrixa

Component

1 2 3

I trust online advertisement

.898
of real estate industry

I trust online advertisement .780

I can confidently say that real

estate players are not using .562
the online medium effectively

I believe online
advertisement can replace .504 .503
the conventional medium

I prefer to give commission

and appoint a broker to find .853
a house for me

I feel buying a flat via

brokers will helps me in .844
getting some discount

I believe online
advertisement is cost .890
effective

I think online advertisement

helps company to easily .858
connect with TA

Extraction Method: Principal Component Analysis.

Rotation Method: Varimax with Kaiser Normalization.

a. Rotation converged in 4 iterations.

In the above table we can see that the total respondents are divided in 3 sets. The first set of
respondents believe that they can trust the online advertisement done by the real estate industry
and they also believe that the Real Estate industry is not using the online medium of advertising
to its full potential. The second set of respondents believe that they prefer making real estate
purchase through a broker and also feel that they will get an additional discount if they channel
the purchase through a broker. And the third set of respondents believe that online advertising is

52
not just cost effective, but also helps the company or the organization to easily connect with their
target audience.

53
 Group Statistics

Gender of
the
Responde
nt N Mean Std. Deviation Std. Error Mean

Club House Male 78 3.0256 1.29909 .14709

Female 75 2.9067 1.28582 .14847

Design Male 78 3.7051 1.18551 .13423

Female 75 3.8533 1.27017 .14667

Payment Terms Male 78 3.9231 1.30702 .14799

Female 75 4.0000 1.17404 .13557

Accessibility Male 78 4.0769 1.17074 .13256

Female 75 4.0800 1.20539 .13919

Outdoor play area/ Garden Male 78 3.7179 1.14979 .13019

Female 75 3.8000 1.10282 .12734

Swimming Pool Male 78 3.1923 1.24898 .14142

Female 75 3.1467 1.27017 .14667

Gym Male 78 3.4231 1.20086 .13597

Female 75 3.5733 1.15283 .13312

Parking Space Male 78 4.1026 1.23362 .13968

Female 75 4.1067 1.18062 .13633

54
 Independent Samples Test

Levene's Test for

Equality of
Variances t-test for Equality of Means

95% Confidence
Interval of the
Mean Std. Error
Difference
Sig. (2- Differenc Differenc
F Sig. t df tailed) e e Lower Upper

Club House Equal

variances .002 .969 .569 151 .570 .11897 .20904 -.29405 .53200
assumed

Equal
150.87
variances not .569 .570 .11897 .20900 -.29397 .53192
1
assumed

Design Equal
variances .234 .629 -.746 151 .457 -.14821 .19855 -.54050 .24409
assumed

Equal
149.25
variances not -.745 .457 -.14821 .19882 -.54107 .24466
1
assumed

Payment Equal
Terms variances 2.366 .126 -.382 151 .703 -.07692 .20112 -.47430 .32045
assumed

Equal
150.31
variances not -.383 .702 -.07692 .20070 -.47348 .31963
3
assumed

Accessibility Equal
variances .006 .938 -.016 151 .987 -.00308 .19210 -.38263 .37648
assumed

Equal
150.29
variances not -.016 .987 -.00308 .19221 -.38286 .37671
2
assumed

Outdoor play Equal

area/ Garden variances .422 .517 -.450 151 .653 -.08205 .18226 -.44217 .27806
assumed

Equal
150.99
variances not -.451 .653 -.08205 .18211 -.44187 .27777
9
assumed

55
Swimming Pool Equal
variances .021 .886 .224 151 .823 .04564 .20367 -.35678 .44806
assumed

Equal
150.52
variances not .224 .823 .04564 .20374 -.35692 .44820
3
assumed

Gym Equal
variances .080 .778 -.789 151 .431 -.15026 .19044 -.52652 .22601
assumed

Equal
151.00
variances not -.790 .431 -.15026 .19028 -.52622 .22571
0
assumed

Parking Space Equal

variances .531 .467 -.021 151 .983 -.00410 .19535 -.39007 .38187
assumed

Equal
150.99
variances not -.021 .983 -.00410 .19518 -.38974 .38153
7
assumed

H1: There is significant difference in the perception of male and female.

Ho: There is no significant difference in the perception of male and female.
As the significance value of the respondents’ preference towards Clubhouse is more than 0.05,
we reject H1 and accept Ho, which means that there is no significant difference in the perception
of male and female.

As the significance value of the respondents’ preference towards Design is more than 0.05, we
reject H1 and accept Ho, which means that there is no significant difference in the perception of
male and female.

As the significance value of the respondents’ preference towards Payment terms is more than
0.05, we reject H1 and accept Ho, which means that there is no significant difference in the
perception of male and female.

As the significance value of the respondents’ preference towards Accessibility is more than 0.05,
we reject H1 and accept Ho, which means that there is no significant difference in the perception
of male and female.

56
As the significance value of the respondent’s preference towards Outdoor play area/ Garden is
more than 0.05, we reject H1 and accept Ho, which means that there is no significant difference
in the perception of male and female.

As the significance value of the respondents’ preference towards Swimming pool is more than
0.05, we reject H1 and accept Ho, which means that there is no significant difference in the
perception of male and female.

As the significance value of the respondents’ preference towards Gym is more than 0.05, we
reject H1 and accept Ho, which means that there is no significant difference in the perception of
male and female.

As the significance value of the respondents’ preference towards Parking space is more than 0.05,
we reject H1 and accept Ho, which means that there is no significant difference in the perception
of male and female.

57
Group Statistics

Gender of
the
Responde
nt N Mean Std. Deviation Std. Error Mean

I believe online Male 78 3.2436 1.17535 .13308

advertisement is cost
Female
75 3.2400 1.13709 .13130
effective

I think online advertisement Male 78 3.5641 .94786 .10732

helps company to easily Female
75 3.4667 .96329 .11123
connect with TA

I trust online advertisement Male 78 3.0641 .99792 .11299

Female 75 3.0133 .79684 .09201

I trust online advertisement Male 78 3.0897 1.03429 .11711

of real estate industry Female 75 2.9733 .91494 .10565

I can confidently say that real Male 78 3.3333 1.18065 .13368

estate players are not using Female
75 3.2133 1.03053 .11899
the online medium effectively

I believe online Male 78 3.5513 1.16939 .13241

advertisement can replace Female
75 3.3733 1.02368 .11820
the conventional medium

I feel buying a flat via Male 78 3.1667 1.18887 .13461

brokers will helps me in Female
75 2.9867 1.04614 .12080
getting some discount

I prefer to give commission Male 78 3.0897 1.14172 .12927

and appoint a broker to find
Female
75 3.1733 1.05745 .12210
a house for me

58
Independent Samples Test

Levene's Test for

Equality of
Variances t-test for Equality of Means

95% Confidence
Interval of the
Mean Std. Error
Difference
Sig. (2- Differenc Differenc
F Sig. t df tailed) e e Lower Upper

I believe online Equal

advertisement variances .055 .814 .019 151 .985 .00359 .18707 -.36603 .37321
is cost effective assumed

Equal
150.99
variances not .019 .985 .00359 .18695 -.36579 .37297
4
assumed

I think online Equal

advertisement variances .018 .893 .631 151 .529 .09744 .15452 -.20786 .40273
helps company assumed
to easily Equal
connect with 150.53
variances not .630 .529 .09744 .15457 -.20796 .40284
TA 4
assumed

I trust online Equal

advertisement variances 5.657 .019 .347 151 .729 .05077 .14635 -.23840 .33994
assumed

Equal
146.12
variances not .348 .728 .05077 .14572 -.23721 .33875
1
assumed

I trust online Equal

advertisement variances 2.929 .089 .736 151 .463 .11641 .15810 -.19597 .42879
of real estate assumed
industry Equal
149.97
variances not .738 .462 .11641 .15772 -.19524 .42806
2
assumed

I can Equal 3.603 .060 .669 151 .505 .12000 .17945 -.23456 .47456
confidently say variances
that real estate assumed

59
players are not Equal
using the variances not 149.62
.670 .504 .12000 .17897 -.23364 .47364
online medium assumed 1
effectively

I believe online Equal

advertisement variances 1.205 .274 1.000 151 .319 .17795 .17796 -.17366 .52956
can replace the assumed
conventional Equal
medium 149.70
variances not 1.003 .318 .17795 .17749 -.17277 .52866
2
assumed

I feel buying a Equal

flat via brokers variances 2.612 .108 .993 151 .322 .18000 .18132 -.17826 .53826
will helps me in assumed
getting some Equal
discount 149.83
variances not .995 .321 .18000 .18087 -.17738 .53738
9
assumed

I prefer to give Equal

commission variances .417 .519 -.469 151 .639 -.08359 .17809 -.43546 .26829
and appoint a assumed
broker to find a
Equal
house for me 150.79
variances not -.470 .639 -.08359 .17782 -.43494 .26776
2
assumed

H1: There is significant difference in the perception of male and female.

Ho: There is no significant difference in the perception of male and female.
The significance value of the respondents if they believe online advertisement is cost effective
space is more than 0.05, we reject H1 and accept Ho, which means that there is no significant
difference in the perception of male and female.

The significance value of the respondents if they think online advertisement helps company to
easily connect with TAis more than 0.05, we reject H1 and accept Ho, which means that there is no
significant difference in the perception of male and female

The significance value of the respondents if they trust online advertisement is more than 0.05, we
reject H1 and accept Ho, which means that there is no significant difference in the perception of
male and female

60
The significance value of the respondents if they can confidently say that real estate players are
not using the online medium effectively is more than 0.05, we reject H1 and accept Ho, which
means that there is no significant difference in the perception of male and female

The significance value of the respondents if they believe online advertisement can replace the
conventional medium is more than 0.05, we reject H1 and accept Ho, which means that there is
no significant difference in the perception of male and female

The significance value of the respondents if they feel buying a flat via brokers will helps me in
getting some discount is more than 0.05, we reject H1 and accept Ho, which means that there is
no significant difference in the perception of male and female

The significance value of the respondents if they prefer to give commission and appoint a broker
to find a house for meis more than 0.05, we reject H1 and accept Ho, which means that there is
no significant difference in the perception of male and female

61
 Group Statistics

Gender of
the
Responde
nt N Mean Std. Deviation Std. Error Mean

First time buyer of the Male 78 1.3205 .46969 .05318

property
Female 75 1.2533 .43785 .05056

Used internet to get details Male 78 1.1667 .37509 .04247

before purchasing the Female
75 1.1600 .36907 .04262
property

Used mobile application to Male 78 1.4103 .49506 .05605

search for a property before Female
75 1.4133 .49575 .05724
purchasing

Wached any video that Male 78 1.5385 .50175 .05681

helped in your purchace Female
75 1.5867 .49575 .05724
decision

a. t cannot be computed because the standard deviations of both groups are 0.

62
 Independent Samples Test
Levene's Test for
Equality of
Variances t-test for Equality of Means

95% Confidence
Interval of the
Mean Std. Error
Difference
Sig. (2- Differenc Differenc
F Sig. t df tailed) e e Lower Upper

First time buyer Equal

of the property variances 3.355 .069 .914 151 .362 .06718 .07348 -.07800 .21236
assumed

Equal
150.85
variances not .916 .361 .06718 .07338 -.07780 .21216
8
assumed

Used internet Equal

to get details variances .049 .825 .111 151 .912 .00667 .06019 -.11225 .12558
before assumed
purchasing the Equal
property 150.91
variances not .111 .912 .00667 .06017 -.11221 .12554
8
assumed

Used mobile Equal

application to variances .006 .939 -.038 151 .969 -.00308 .08012 -.16137 .15522
search for a assumed
property before Equal
purchasing 150.74
variances not -.038 .969 -.00308 .08012 -.16138 .15522
8
assumed

Watched any Equal

video that variances 1.271 .261 -.598 151 .551 -.04821 .08067 -.20759 .11118
helped in your assumed
purchase
Equal
decision 150.88
variances not -.598 .551 -.04821 .08065 -.20755 .11114
6
assumed

H1: There is significant difference in the perception of male and female.

Ho: There is no significant difference in the perception of male and female.
As the significance value of First time buyer of the property is less than 0.05, we reject H1 and
accept Ho, which means that there is no significant difference in the perception of male and
female on being the first time buyer of the property.

63
As the significant value of used internet to get details before purchasing the property is less than
0.05, we reject H1 and accept Ho, which means that there is no significant difference in the
perception of male and female on using internet to get details before purchasing the property.

As the significant value of used mobile application to search for a property before purchasing
property is less than 0.05, we reject H1 and accept Ho, which means that there is no significant
difference in the perception of male and female on using mobile application to search for a
property before purchasing property.

As the significant value of swatching any video that helped in your purchase decision is less than
0.05, we reject H1 and accept Ho, which means that there is no significant difference in the
perception of male and female on watching any video that helped in their purchase decision.

64
 Chapter 8: Conclusion and Learnings

 As per the findings of the survey conducted, digital and online medium is going to have a
major significance on the real estate sector in the near future.
 As we can see through the survey, internet has already gained relevance amongst the mid
and high income groups of customers for buying and selling real estate properties, but
with the rapid growth and high internet penetration it is going to find relevance among the
masses too.
 Digital marketing helps to improve the brand image, the perception among the potential
customers and also boost the sales. According to studies, 53% of the real estate buying is
through the influence of digital media.
 There is a tremendous opportunity for the online real estate aggregators, developers,
channel partners (brokers) to attract and engage the audience online by providing them
with meaningful, rich and immersive experience to decision makers on the digital
platforms.
 Internet helps to provide the maximum exposure at a minimal cost and is expected to be
one of the main driving force in the emerging real estate sector.
 At the same time, the traditional medium of marketing cannot be ignored as it plays a vital
role in any real estate purchasing. Traditional techniques like making cold calls and
having SMS blasts and distribution of pamphlets gives a customer a personalized feel and
makes him feel connected.
 A real estate purchases is important to an individual and one would not make any decision
without the involvement of an actual human. Hence, an organization cannot only be
dependent on digital modes, but must also concentrate on the traditional modes of
reaching out to its customers as well.

65
 Chapter 9: Bibliography

 Media Reports, Press releases, Knight Frank India, VCCEdge, JLL Research, CREDAI-
JL
 https://www.lyfemarketing.com/blog/digital-marketing-vs-traditional-marketing/
 https://www.researchgate.net/publication/280943266_FUTURE_OF_ONLINE_MARKE
TING_IN_REAL_ESTATE
 https://digitalcommons.liberty.edu/cgi/viewcontent.cgi?article=1315&context=masters )
 https://www.similarweb.com/
 https://www.lodhagroup.in/
 http://www.godrej.com/
 https://hiranandani.com/
 http://www.raheja.com/

66
 Chapter 10: Appendices

Questionnaire

Consumer buying perception for Real estate

* Required

1. Name*

2. Age*Mark only one oval.

 30-35
 36-40
 41-45
 46 and above

3. Income (lacks per annum) * Mark only one oval.

 8.00-10.99
 11.00-13.99
 14.00-16.99
 17.00 & above

4. Gender* Mark only one oval.

 Male

 Female

 Other:

67
5. Are you a first time buyer of property?* Mark only one oval.

 Yes

 No

6. Did you use the internet to get details be for purchasing the property?* Mark only
one oval.

 Yes

 No
7. Did you use mobile applications to search for a property before purchasing?*
Mark only one oval.

 Yes

 No

8. Did you watch any video online that helped you in your purchase decision?* Mark
only one oval.

 Yes

 No

9. Which website did you go on to watch video/walk through of the project before
buying?* Check all that apply.

 YouTube

 Company

 Website

 Social Media

 Other:

68
10. For how much time did you search on the internet before you contact an agent? *
Mark only one oval.

 1 month
 2 month
 3 month
 more than 3 month

11.How much time did it took to make a purchase decision?* Mark only one oval.

 1 month
 2-3month
 3-6month
 more than 6 month

12. Have you ever followed or interacted with a real estate agent or real estate
agency on social media?

Mark only one oval.

 Yes

 No

 Maybe
13. Do you find difficult to understand information about the real estate market
(i.e., current market rates, re-sale tips, etc.)

Mark only one oval.

 Yes

 No

 Maybe
14. Select the following options based on the below situations.* Mark only one oval per
row.

69
 Strongly Disagree Neutral Agree Strongly
agree Agree

I believe online
advertisement is
cost effective

I think online
advertisement
helps company
to easily connect
with TA

I trust online
advertisement

I trust online
advertisement of
real estate
industry

I can confidently
say that real
estate players are
not using the
online medium
effectively

I believe online
advertisement can
replace the
conventional
medium

I feel buying a
flat via brokers
will helps me in
getting some
discount

I prefer to give
commission and
appoint a broker
to find a house
for me

70
71
15. Rate the following parameters that you would consider before buying a real
estate(1-least important factor, 5- most important factor)*

Mark only one oval per row.

1 2 3 4 5
Club House
Design
Payment
Terms
Outdoor play
area/ Garden
Swimming
Pool
Gym

Parking Space