The aim of this report is to analysis report about the Marketing Activities in general, specially the activities of Marketing Activities of Roots Developments Limited. Other objectives are to know the work process and monitoring system of marketing department and find out existing problems of Roots Developments Limited. Report also find out how efficiently its present strategies are working. finally find out the opportunity and threat, also find out the strengths and weaknesses of the organization.
- To find out the Marketing activities of Roots Developments Ltd.
- To know the services offered by Roots Developments Ltd.
- To identify differences between theory and practice by working directly in a company.
- To know the terms and conditions of finance and accounts activities.
- To know the work process and monitoring system of marketing
- To discuss on function and operation of each level of the company.
- To find out existing problems of Roots Developments Ltd.
- To find out how efficiently its present strategies are working.
- To get an overall idea about the performance of Roots Developments Ltd.
- To find out the opportunity and threat of Roots Developments Ltd.
- To find out the strengths and weaknesses of the organization.
The methodology describes the procedures to organize the scattered ideas & views to conduct a study. Proper working procedure helps to capture the right things during study periods & finally fulfills the objective of the study.
Generally a method involves a technique in which various stages of collecting data or information are interpreted. So, adoption of methodology is an important step in performing any study.
In this study a methodology is followed for the achievement & successful accomplishment of the dissertation work relevant data from reliable sources have used while preparing the report. Both primary & secondary data have used where necessary.
Data collection method:
Relevant data for this report has been collected primarily by direct investigation of different records, papers, documents, operational process and different personnel. No structured questionnaire has been used. Information regarding office activities of Roots Developments Ltd. has been collected through consulting and discussion with company personnel and employee.
Both primary and secondary source of data are used to complete this study. These two sources are explained below-
- Face to face conversation with the company Department Head, Manager, Marketing Manager, Executive and other Employee.
- Notes taken from day to day working.
- Different manuals of Roots Developments Ltd.
- Files and documents of the Corporate Office.
- Monthly report of Roots Developments Ltd.
- Different paper of Roots Developments Ltd.
- Newspaper and Internet.
History of Real State Business
One of the fundamental rights of human being is housing. But regrettably a large number of populations in Bangladesh are still underprivileged of this requirement. One of the main reasons behind this situation the over population of the country. The rapid increasing of the growth is also alarming to deteriorate housing conditions. Even more to the reality is that every year a significant percentage of rural population arrived in Dhaka in order to search for job, study, for employment purpose, business purpose and others. On the other hand the land situation of the Dhaka city is gradually decreasing for many causes and becoming over population loaded.
Some pioneer group of companies started the housing and apartment business in the sense of real estate business in late 1970s in Bangladesh. Step by step during 1980s, very few were directly involved to develop this sector. Passing 1990s, this business has become a huge investing and massive contribution in national economy. It has become the most competitive business in Bangladesh and expanded through out the country.
The Dhaka city is expanding rapidly due to rapid urbanization; the shopping activities have increased in different urban areas of the country. The life style of urban people has also changed. Now a days they want to live in a modem but secured place like apartment building. The demand of modern commercial complex and residential apartment is very high in Dhaka City. Besides the sponsors are experienced in similar sectors. Their observation and experiences have inspired them to construct such two types of projects.
In order to meet the housing problem of Dhaka City in particular RDL emerged on 2008. Now near about 600 Real Estate Developer Companies are engaged in this business. As a result, real estate business in Bangladesh holds much popularity now-a-days. That’s why prosper is very is good indeed.
The shortage of affordable dwelling/ commercial place around the world was an immense problem, As Bangladesh is a member of LDC (Least Developed Country) the metropolitan cities housing infrastructure are not preplanned and well established. For this the people have been facing various problem of business/living. After analyzing that the company envisaged to fix up a target market on which it can concentrate. The average earning groups who are mainly the employers of the government organization or NGOs, entrepreneur of small businesses etc are the fixed target clients of RDL. We believe of our strength to meet the expectation of the client.
Background of Roots Development Limited
Roots Development Limited is a fast growing quality construction and Developer Company in Dhaka to accomplish the ambition of typical breathing apartment and worthwhile endeavors. A house of eminent local, American and European sound immigrant entrepreneurs, full proficient experts of planner, designer and engineers have been contributing for different tasted residential houses particularly for Bangladeshi immigrants and archetypal buyers.
An inclusive address for sound living with no hazards is the vision of the company. The immigrants already finding their way to build up a bridge between their heritage and dreams of reality through and to the real roots.
We are passing through the golden era of internet & telecommunication where the whole is considered as a mere global village. The choosing tendency of people is changing day by day. So the standard style, quality, location, security and prestige are the uncompromising concern of the company will apart anyone buyer from the flow of traditional dwelling system.
Absolutely earth quake preventive standard construction materials with Bangladesh Standard Testing Institute (BSTI) approvals, Rajdhani Unnyan Kartripokhya (RAJUK) approved design, prescribed salient fitting & fixtures will assure our valued customer for ever relation with and distinguished projects of Roots Properties Limited.
Reasonable and competitive price, timely hand over and after sale services are the fundamental policies of the company for your utmost satisfaction. We, Roots Properties Limited committed to building up our real roots.
Roots Development Company [RDL] is working for the development both in urban and its adjacent areas. It has the reputation in the quality apartment and commercial complex construction in the Dhaka city particularly in remarkable areas.
RDL the promising shape of the capital city of Dhaka’s present urban outlook and life style. RPL is the name of belief that has already marked its success as one of the exclusive Real Estate Company in the perspective of Real Estate production in Bangladesh. Accomplished and valued client’s pleasure is its motto. It pledges the spirit of time of the day and most excellent quality within the reach of the urban dwelling system.
After incorporating RDL. The success of the company goes to its experienced and skilled personnel’s. A team of hard-core professionals consisting of engineers, technocrats planners and architects along with a dedicated workforce help to achieve, which a few others could hope for total quality to the absolute delight of the customer. RDL has successfully started to construct different apartment projects located at Bosundhara,Banosree, aftab nagor, Uttara, Mohammadpur, Kalabagan, Kanthal Bagan, Elephant Road, west Dhanmondi and Mirpur areas in Dhaka city. The sell process of those projects is on function on first come first serve basis.
In RDL, construction materials and equipments are procured with great care so as to ensure highest promising standard of construction. RDL is enthusiastic to preserve a high standard in quality control and work of genius. Use of high quality materials and high-tech equipment is a daily routine for RDL family.
RDL assures its valued clients of entire service backed by years of collective efforts of the company and a widespread assortment to unbeaten mission. After sale service that turning point on our complete appreciative and hope of your expectations, aspiration and desires.
The whole strength of RDL is absolutely competent to build up a separate and tasted apartment class, commercial growth and urban development progress. Those who visited once the projects of RDL, remains a smooth and continuous communication. We assure the security of their invest first of all. RDL thinks of product first. The company always bears the courage of expenditure the actual need for any construction. Superiority for quality is an ethical matter in company’s motto. The in detail knowledge with growing tendency from accomplishing huge residential and commercial projects has no alternative. This effort has really made us a different than other traditional flow of rising companies.
Policy of Roots Developments Limited
Roots policy is to work in partnership with our clients. We make sure we fully understand our clients’ needs and concerns. RDL work together to work out the best strategy and tactics needed to deliver what RDL promise.
We are an ethical and eco-friendly company. We work in partnership with local authorities, local communities and other statutory bodies to ensure that we not only satisfy the authorities’ legal requirements we also take into account the environmental effect our development may have for local communities. We are very conscious about the damage some developments may cause to local environment.
Roots consideration in site selection
Roots normally work in and around the Dhaka City, but for a major and exciting project we will take on any challenge anywhere in the country.
Roots Development Company selection of sites is determined by the availability of schools, colleges, banks & financial institutions, hospitals & clinics, markets & shopping centres and parks & recreational facilities within a reasonable distance from the development site. RDL prides itself in its ability to provide a safe and secured environment with a strong emphasis on enhancing the area’s aesthetic appearance and beauty.
Finally Roots consider, Customer satisfaction’ is our only measure of success. Our customers are our best assets. To serve and satisfy Roots customers is one of Roots primary goals.
Roots Business Areas
RDL is a provider of apartment, shop, office space, rental service and security service for specific client segments. RDL also provides architectural solution for building design and logistic solution for construction.
RDL selected client, sectors include top-level management personnel of national and multinational companies, small business enterprise, government employees, NGOs, distribution and others. RDL segmented the client groups on the basis of social structure. RDL provides its client exclusive apartments, rental service, and security service.
RDL corporate structure, based on its business areas, has been developed and the focus of the company’s strategy has been directed to the management of logistic chains and technical information as well as the supply of construction related raw materials.
Roots Commitment and Specialty
Roots Development Company [RDL] has originated the following core commitment and policies to establish secured and foreign standard living atmosphere in Dhaka. The dependable and constructive steps of RDL absolutely made it different standard development company from the traditional flows. RDL clearly declares that:
- RDL never compromises with its quality for secured living and uses Bangladesh Standard Testing Institute [BSTI] approved construction materials as per proper rules and regulations of Rajdhani Unnyan Kartripokhya [RAJUK].
- RDL always makes the valued investors assured the hand over of their living project within the scheduled time frame.
- RDL has engaged a high profiled expert team of architect designer, planner and environment specialists for extra ordinary Archetypal Design.
- The mission of building up sound and complete apartment for only two types of buyers: only Bangladeshi immigrants in abroad and conscious buyers.
- RDL always chooses lands only in prime locations in Dhaka and land size is a great concern for avoiding huge gathering in a living apartment complex.
- RDL chooses lands at such a prime location in Dhaka with all type of communication facilities.
- RDL is the only committed developer company in Bangladesh that the valued buyers in land and in abroad always feel free for their secured investment.
- Competitive price, flexible and affordable payment mode, available loan facilities with minimum interest rate [if needed] are very favorable to our valued clients.
- After sale services for utmost satisfaction of the client for peaceful and comfortable living, RDL has adopted practices of ever relations with them.
- RDL builds your home to generate your roots.
Function of The RDL:
There are several department of Roots Developments .but the key function of main four department are discuss below:
The task of those function has been discussed in the following:
These particular areas of the company deal with making marketing plans, implementing and executing the plan, carrying out promotional activities etc. the specific task are:
- Plan for Selling
- Expedite selling activities
- Searching new customer
- Advertising for project to attract the customer
- Advertising in TV. News paper and Magazine etc.
- Participating in different trade Fare home and abroad
- Provide necessary information to the customer
- Publishing yearly calendar, leaflets, telephone book
- Sending those publishing to the prospective customer
- Making sales deal with interested customer
- Taking the customer to the project for consideration
- Time to time inform the buyers about their land Development
- In the office briefing to the customer about the project
Marketing Strategy of RDL
Generally marketing means a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. Many people think of marketing only as selling and advertising. However, selling and advertising only the tip of the marketing iceberg. It the marketer does a good job of understanding consumer needs, develop products that provide superior value, and prices, distributes and promotes them effectively, these products will sell easily. Marketing of fixed assets are not such as other products or services. It is because buyers think a lot before making a buying decision of such product. They consider a number of things before making such decisions. So marketing strategy used in this business is like the other products marketing strategy. The marketing strategies used by the RDL are stated below: Like the other companies products marketing strategy, the marketing theory of RDL is made up of the 4 ps. Product, Price, Place, Promotion. Each 4 Ps contributes to its marketing.
Analysis 4 Ps of Roots Developments Limited:
1. Product Strategy
Normally we know, a product is anything that maximizes utility of the consumers. With respect to product, marketing strategy consists of the following features of a product:
Roots Developments Ltd (RDL) is committed to provide to the living standards of the people. This commitments demands immense social responsibility of ensuring quality in terms quantity, purity, stability, safety, efficacy and presentation of the product. At every stage of the production, a stringent control mechanism involving raw material testing, in-process quality control, finished product testing as well as stability monitoring and documentation is maintained to ensure the highest quality product consistently.
In my study, products are land and buildings for residential and commercial use, for these products the main features are as follows:
- Product Varity of the RDL
- Durability of the Products
- Design of the Products
- Sizes and Without Impediments
Quality Maintenance and Control
In the case of land the quality is assured by developing firms and eliminating its problems such as lowland ness, legal obligation, impediments etc. On the other hand, in the case of building construction quality materials are used and all the necessary materials are used and maintained accordingly, in some cases necessary experts opinions are also considered. All the quality factors are controlled by the direct supervision of the MD of the company as well as with his selected personnel specialized in the respective fields.
2. Pricing Strategy
Generally price is the amount of money charged for a product or service, or sum of the value that consumers exchange for the benefits of having or using the product or service. Again Pricing policy is the course of action or guiding philosophy that helps a business firm to pricing decisions smoothly and perfectly. It also guides the firm to achieve its goals. It is an important element of the entire marketing strategy of a firm. A firm can easily manipulate the demand of the target market by handling its price carefully.
At the present time, the market is highly segmented, primarily based on location, price of the land and size of the apartments. As a result, the RDL is highly concerned to provide highest quality residential real estate by considering its price as accepted by the target market.
The most common statement of the marketing executive of RDL is that we are dedicated to providing customers of real estate with the highest quality services possible so the price of Roots Developments Ltd is higher than other competitors.
The objectives of pricing strategy must be consistent with the company overall mission and Purposes. A company can obtained six major objectives through its pricing survival. These are maximum current profit, maximum revenue, maximum sales growth, maximum market skimming, and product quality leadership. Roots Developments Ltd pursues three of the above objectives- Survival, maximum current profit, and maximum sales growth through its pricing.
Survival: Company pursues survival as its major objectives. Since RDL strong competitors and change in consumers wants for lands and housing, therefore survival is one of its pricing objective.
Maximum Current Profit: It estimates its demand and costs associated with alternative prices and choose the price that produces the maximum current profit, cash flow and rate of return on investment
Maximum sales Growth: RDL sets a reasonable price for its products (lands and Apartments) considering the competitors prices. The company wants to maximize unit sales and thus profit.
There are a number of price setting approaches, these are- markup pricing, and target return pricing; buyer based pricing, going rate pricing, sealed bid pricing approach. At the present time, RDL adopts going rate pricing method for its products. In going rate pricing the firm bases its price largely on the competitor’s prices with less attention paid to its own costs and demands. The study shows the pricing of the real estate depends on certain factors such as Location, square feet, quality of construction, construction cost, and amenities, markup policy, Competitors price and demand for the product. In the case of pricing, RDL considers the following factors:
- Determine the purchase price
- Estimates the developments costs.
- Predict the future costs of the land.
- Fixed costs of the asset.
- Variable costs of the assets.
- Lastly competitors costs.
3. Place/Distribution Strategy
In the face of today’s competitive business environment, Roots Developments Ltd develops and retains high achieves and a motivated workforce and also provides an excellent working environment for them that reflect and promote a high level of loyalty and commitment, both to its employees and from its employees. At Roots Developments Ltd, good work is always expected and rewarded. Over the years, the company has been successful in providing an environment and culture that nurtures individual growth and development, and allows people to attain personal fulfillment as well as achieve company objectives. The competent workforce of the company provides with every reason to be optimistic about the future.
4. Promotion Strategy
Promotion mix is composed of four tools of communications- advertising, personal selling, sales promotion, and publicity. In the face of toady’s competitive business environment, RDL develops and retains high achieves and a motivated workforce. We create an excellent working environment for them that reflect and promote a high level of loyalty and commitment, both to our employees and from our employees. At RDL, good work is always expected and rewarded. Over the years, the company has been successful in providing an environment and culture that nurtures individual growth and development, and allows people to attain personal fulfillment
Here most of the importance is given to the advertisement and on creating customer faith and
also to the after sales services. Roots Developments Limited spends the biggest portion of its total promotion budget for advertising. When we look at the company, we can easily realize that the company could successfully anticipate the effectiveness of advertising. Here some of vehicles used as media for the advertisement of RDL products.
Advertisements are published frequently on the most of the national dailies citing feasibility, opportunities, advances etc along with attractive photograph of the projects.
Neon Sign Billboard
Lots of billboard and neon sign are established at the different places of the city. Generally these places are selected according to the commercial importance.
Advertisement is also frequently shown on the national and private channel in order to attract the potential customers and also to get the people to know about the projects
Company maintains good relationship with the customers. Generally, the company follows two mode of personal selling for maintaining long term relationship with their target customers.
Field force employees
A number of employees are engaged in door to door marketing. They go to the customers houses, explain them about projects and request them to come to the office about the real condition of the projects. Generally this is the task of influencing the people to make a purchase decision.
In House Marketing Team
In hose marketing team is the part of the marketing department of the company. Usually they work with the direct customers who come to the office directly for land and office purpose. Different personnel of the in house marketing team co-ordinates with the customers. The personnel explain explain different aspects of the projects to the customers and also give them answer of questions. However their main motto is to sell their products by giving service.
Sales promotion is another essential ingredient in marketing campaign. Advertisement offers a reason to buy, whereas sales promotion offers an incentive to buy. RDL offers the following discounts, gifts, low cost services price off, cost free services etc.
Sales policy of RDL:
Moat of the company in this industry develop sales policy based on in house in house sales personnel. The out side sales forces are generally used to create customers. In case of purchasing a plot or a flat the first task a customer has to do is booking the plot or flat with a specified amount of money. After the booking rest of the are done by sales and credit realization personnel. In case of selling RDL follows the following two sales policies.
- Sales at a time with cash payment
In this case at first the customer pays the booking money and after one month of booking pays the rest of amount.
- Sales on installment
This is comparatively relaxed policy. There are several installment schemes. In this case the purchaser can pays a specified amount either in 12 or 24 or 36 or 60 or 72 installments.
STRUCTURAL & GENERAL ENGINEERING FEATURES:
- A reputed team of professionals supervises total foundation and structural Work.
- Experts specializing in earthquake design will design structure and foundation.
- Structural Design Parameters based on American Concrete Institute (ACI) code and American Standards of Testing (ASTM) codes.
- Heavy reinforced Cement Concrete Foundation.
- Systematic Structural combination of steel Reinforced Concrete frame and Shear wall core.
- Floor slabs all Reinforced Cement Concrete
- Sub-Soil Investigation and Soil Composition comprehensively analyzed.
- Comprehensive checking and Testing of all steel reinforcement by professional Design and Supervising Engineers.
- All Structural Materials including steel cement bricks, sylhet sand and other aggregates etc. of highest available standard and screened for quality.
- Direct supervision at every stage of construction by a team of experienced and qualified Civil Engineers to ensure highest quality of workmanship.
- Construction site equipment employed includes Vibro-hammers, Mechanical rollers, Steel cutting & Bending equipment, welding equipment, concrete mixers, concrete vibratos, water pumps, Material handing equipment, leveling instruments, theodolite etc.
- Systematic testing of concrete and other completed work samples at every stage from quality control Laboratories.
- Protection from Cyclone winds up to prevalent speeds incorporated in structure design.
- Structure is capable of consuming Earthquakes up to 7 on Richter scale and protection from Cyclonic storms (200km) per hour.
Building Entrance Features
- Secured Decorative MS Gate with Lamp posts as per the elevation & perspective of the Building.
- Logos on polished marble or granite.
- Comfortable internal driveway.
- Personal mailbox.
- Reception desk with Marble/Granite Top.
- Visitor’s waiting room & Separate toilet for visitors.
- Tiles floor in the reception area.
- Light Fittings.
- Community space for flat owners.
- International standard 08 Passengers capacity Lift (LG-Otis or Equivalent).
- Adequate lighting.
- Fast & reliable service to residents on all floors.
- Lift Lobbies & Staircases.
- Spacious lift lobby in each floor.
- Homogeneous floor tiles in all lift lobbies and staircase with proper lighting (RAK or Equivalent).
- Stair tiles in all staircases (RAK or Equivalent)
- Will maximize advantages especially in relation to the daylight and outside view.
- Privacy will be emphasized in designing the layout so that the master and second bedrooms are located away from the guest bedroom and main entertainment areas.
Cable TV and Internet Provision
- Provision for connection of satellite dish antenna with multi channel capacity from the
- cable TV operation in Master Bed, Family living/Main living.
- Provision for telephone connection of Master Bed, Family living/Main living.
- Provision for internet cable connection in each flat.
- International Standard Generator (SDMO, France / FG. Wilson, Uk / Parkins or Equivalent)
- KVA capacity to cover Lift, Pumps, Common Lights and 3 (Three) Lights, 3 (Three) Fans per Apartment.
- Two Units (One standby)
- European Origin pedrollo or Saer or Equivalent.
- Protective parapet Wall
- Protected children’s area
- Cloth drying area
- Roof top garden
- Good Quality and standard (Panasonic or Equivalent)
- To connect each Apartment to the concierge Desk
Interior Building Materials
- Essentially correct Uniform Floor Slope towards Water Outlet.
- Foreign made Sanitary Wares in all Bathroom except servant’s toilet (Cotto or RAK or equivalent).
- Full height wall Glazed tiles in all bathrooms (RAK / C B C or Equivalent) except servant’s toilet.
- Matching floor tiles in Bathrooms (RAK / C B C or Equivalent)
- All Mirrors in Bathrooms with overhead Lamps.
- Good Quality Chrome plated Fittings (Nazma/Gloria/ Equivalent).
- All Chrome plated Fittings carry Manufacture’s Warranty.
- Porcelain soap cases and Towel Rails.
- Cabinet Basin with marble top in Master Bath.
- One Bathtub in Master Bathroom (Ariston or Equivalent).
- Titles on Floor and Wall up to 7 feet in Maid’s bath with Long pan, shower and Lowdown.
- Provision for exhaust fan in all bathrooms.
- Concealed Hot and Cold water lines in Master Bath, 2nd Bath & 3rd bath.
Floors & Verandah
- Mirror polish Homogeneous Tiles in Floors (RAK or C B C or Equivalent, Size 16”x16”).
- Tiles in Stair, Lobby & Verandah (C B C / RAK or Equivalent, size 16”x16”).
- Outside walls are plastered 00′-10”’ standard brickwork (1st class).
- All interior walls are also plastered 5′ brickwork (1st class).
- Walls separating apartments are 00′-10” brickwork (1st class)
- Smooth Finish Walls.
- Walls below ground are water proof RCC.
Painting & Polishing
- Plastic paint in all internal walls and ceilings in soft colors (Berger or Equivalent).
- French polished Doorframes & shutters.
- Exterior wall will be Weather coat paint (Berger or Equivalent).
- MK (Singapore) or Equivalent electrical Switches, plug points and other Fittings.
- Fancy Light Fixtures in all Rooms.
- Three emergency lights and three Fans in each Apartment.
- Independent electric meter in each apartment.
- Electrical distribution box with main switch circuit breakers.
- Concealed electrical wring (BRB/PARADISE or Equivalent).
- All power outlets with ear-thing connection.
- Provision for air conditioner in master bed, 2nd bed and living area.
- Emergency power in lifts, lobby, inter COM service, common spaces like car parking, reception area, security room and main gate concealed fan hook.
Main Door: Solid teak (Chittagong) decorative Main Entrance Door with lucrative chains, spy holes, calling bell switch, solid brass doorknocker, apartments no. In brass plate, doors handle with security Lock)
Door frame: Main door frames (00′-10”) are made of Chittagong Teak.
- Internal doors are made of strong and durable Flush door with polish & good quality Mortis Lock
- All internal doorframes are of Chapalish/ Tick Shamble/ Shilkarai. (Covered
Bathroom Doors: Waterproof laminated door.
- Sliding Windows as per Architectural Design of the Building
- 5 mm thickness glass with mohair lining
- Rain water barrier in 4” Aluminum sections
- Safety grills in all windows
- Fly proof net in all windows
- Impressively designed platform with Marble / Granite top.
- Provision for double burner gas out let.
- Space provision for gas oven, washing machine & refrigerator.
- Partly tiles in the kitchen wall (Matching Glazed tiles)
- Suitably placed exhaust fan.
- One stainless steel sinks with mixture for washing purpose.
- Concealed water line for hot and cold water.
- Gas burners are surrounded by wall tiles up to 5 feet.
- Floor covered with homogeneous tiles (RAK/CBC or Equivalent).
General Terms & Conditions for Buyer or Clients:
- Application for allotment of apartments should be made on the prescribed application form duly signed by the applicant along with the Earnest money. The Company has the right to accept or reject any application without assigning any reason thereto.
- On acceptance of an application, the company will issue an allotment letter to the applicant on the receipt of which the applicant/allottee shall start making payment as per the schedule of payment in this Brochure Allotment of apartments are made on first come first served basis.
- Payment of earnest money, installments, car park costs, additional works and other charges shall be made by Bank Draft of Pay Order against which respective receipts will be issued. Bangladeshis residing abroad may remit payments in foreign exchange by TT of DD.
- Payment of installments and all other charges are to be made on due dates. The company may issue reminders to the allottee but, notwithstanding the issue of reminders, the allottee must adhere the schedule of payment to ensure timely completion of construction.
- Delay in payments beyond the due date will make the allottee liable to pay a delay charge of 3% per 30 days on the amount of payment delayed. If the payments is delayed beyond 60 days, the company shall have the right to cancel the allotment without notice to the allottee. In such an event the amount paid by the allottee will be refunded after deducting the Earnest Money.
- Connection fees/charges, security deposits and other incidental expanses relating to gas, water, sewerage and electric connections are not include in the price of apartments. These payments will be made by the company directly to the authorities concerned, on the allottee’s accounts. The allottee will be billed proportionately on actual costs basis.
- Limited changes in the specifications, design and/or layout of the apartment and other facilities may be made by the company in larger overall interest of due to unavoidable reason.
- The possession of each apartment shall be duly handed over to the allottee on completion and on full payment of installments and other charges. Till then the possession will rest with the company.
- The allottee will pay stamps duties, registration fees, value added tax, documentation charges and other miscellaneous taxes and expenses to be incurred in connection with the deed of conveyance (Sales Deed). Only the actual sums shall be charged.
- Upon registrations, the flat owner irrespective of the floor becomes the proportionate owner of the land on which the building is to be constructed.
- Should the purchaser want to avail loan from any finical institutions the company will do all that is possible to help secure the loan. However the final decision regarding the grant of loan rests with the financial institution and with the compliance. All the necessary papers for grant the loan must be signed by the purchaser and he/she must attend the Registration office for the registration the mortgage deed. Irrespective of the loan being sanctioned or not, the client will be liable to pay as per schedule installments.
- After talking over of apartment or the project, the allottee(s) must consult the company prior to undertaking any structural or layout changes within the apartment complex. Failure to do so will be at the sole risk of the allottee.
- The completion period of the construction of the project can be affected by unavoidable circumstances beyond the control of the company, like force majeure, natural calamity, political disturbance strikes and changes the fiscal policy of the state etc.
- For the management of common facilities like the supply of electricity, water and sewerage and the maintenance of the building etc. and Owner’s Association will be formed. All allottees after full payments of instilments and dues must became member of this Association for the common interest. Each allottee (for each allotment of apartments) must initially deposit Tk. 25,000 (Taka Twenty five thousand) only in the Reserve Fund for the management Expenses of the compel.
Dhaka is the most important city of Bangladesh where every year people are increasing. People are coming to Dhaka for various reasons. The population of Dhaka city is increasing terrifyingly. The current population growth of Bangladesh is 2.06% (2007 CIA EST.) and the population growth of Dhaka city is 4.2% . How fast the city is growing? In reality, Shelter problems are extremely familiar problems in Dhaka city. It was seen that In the middle of the 1970 and by 1985, apartment buildings were so popular that there was an acceptability of concept of living in a flat. At that time, there was an acute shortage of land and in a situation of rapid increase of land prices and the cost of constriction. However, Urbanization sense actually stared in the British period when they had a tendency to build their administrative centers on the banks of large rivers. A recent study of World Bank has estimated that about 40% of people of Bangladesh will be living in urban areas within 2025. Dhaka, the prime city of Bangladesh, its share of national urban population was 25% in 1981, 31% in 1991 and 34% in 2001 respectively . So, it is very clear if we want to solve housing problems beside the increasing population, we should have a proper plan of doing it. Real estate is playing an important role in the economy which is certainly important for a county like Bangladesh. As urbanization is taking place very fast, real estate business is also becoming more significant business in the last couple of years.
Average Investment in housing and construction US$ 1274 million per year Scope of Competitive Rivalry Still, most of the major competitors are concentrated in Dhaka, competing based on the location, price and size.
Analysis of the RDL:
- Authenticity: That is the reason why customers come to them.
- Quality Commitment: Their finishing is best.
- Good Materials: Cement reinforcement, GI pipe, Ready mix cement, Hollow blocks.
- Reputation: More than 50 projects.
- Back up Support: Five concrete batching plants with a fleet of truck mixers, four concrete block plants.
- Experienced Professionals: Even their chairman is also an engineer.
- Design and Appearance: Even, they do design from KTGY (Singapore).
- Table cloth
- Tissue Box
- Web site
- Email list
- Referral : People come to them through referee
Average Price: 3500-10000 sft (Roots Developments Limited)
They don’t search land owners rather landowners want to give them land. Even, they don’t have agents for land search. The main reason of offering land to concord is its goodwill in the market. Landowners think that if they will provide land to concord, their value will be more. Even, they don’t give cash to landowners for their land. Concord just goes for win-win business.
Roots Brand Values:
1. Reliability: service is carried out dependably and accurately. Emotional benefit: customers feel they can rely on the service provider.
2. Assuredness: service staff demonstrates trust and confidence. Emotional response: customers trust the work being done and statements that are made.
3. Tangibility: service staff and premises are clean and look good. Emotional judgment: customers sense the organization takes pride in itself.
4. Empathy: Service staffs are caring and provide individualized attention, emotional reaction: customers feel recognized as individuals.
5. Responsiveness: Service staffs are willing to rapidly help customers. Emotional experience: customers fell they are important to the organization.
Findings of The origination:
Roots Developments Limited major findings of this are as follows :
- Actual market image of Roots Developments Ltd
- Company has opportunity to be market leader in this industry.
- It has moderate market share in the industry.
- Actual market size of the company
- The main competitors of the company
- The reason of highest market share is quality.
- Marketing strategy of the company.
- Customer satisfaction and their attitude toward the company
- Problem faced both customers and marketers in the same industry.
- Ensure that Brand is viewed as an asset of the company.
Findings in the real estate business:
The task of marketing is not an easy, one mainly for such fixed asset, which cannot be replaced. Again now we are living in a very fast changing world. The demand of people also changing frequently and the result is a difficult position for every company to meet the changing customer demand. In the case of marketing and other function, the company department faces the following problems.
Lack of customer faith
The most difficult job for the most marketing executives is to create faith on customer mind. They always hesitate to make such purchase decision. They hardly believe the company and its projects for following reasons. There is no direct government supervision in this sector. So they feel insecure to make purchase decision from the company. There is no government policy to guide the business.
Lack of customer knowledge regarding housing
This result in too much time is needs for the marketer to make a better understanding regarding their perception about the company product.
Failure in commitment
Sometimes the company fails to hand over the flat within the specified period due to several factors like storage in raw materials, legal building, deadly in preparation of necessary papers etc.
It is another problem in marketing. Due to political unrest construction and development works delayed which delay the whole project. For this, hand over date is also extended. So, it reduces the good will of the company and customers faith.
Natural climate like heavy rainfall, flood, storm, earth quake, usually delayed the project work. So, unfavorable natural climate is one of the main problems in this business.
Competitors always change the policy frequently in this industry which is also considered as another major marketing problem.
Disturbance of illegal, collectors of subscription, corruption from the government and non- government bodies is also major problem in this sector
SWOT Analysis of RDL:
The term SWOT is the abbreviated from of Strength, Weakness, Opportunity, & Threat. In SWOT analysis Strength & Weakness are determined by internal factor, while Opportunity & Threat are determined by the external factors.
- Roots Development Limited management system are always committed to better service
- All of employees of RDL are sincere reliable.
- Roots Development Limited market potentiality is very high.
- Roots Development Group have effective sales team.
- Roots Development Limited always keep records in appropriate methods.
- Roots Development Limited use advanced information system.
- Roots Development Limited maintain Good relationship between top management & employees.
- Roots Development Limited have strong security system.
- Roots Development Limited has a well-decorated office.
- Could not maintain the rules & regulation according to appropriate law.
- Installment facilities are not in customers favor.
- Decision can take only the top management.
- Improper government policy.
- Low area mark
- New real estate business is opening day by day.
- Improve the service quality then the others.
- Improve high customer satisfaction.
- Take the opportunity to get a huge amount of money.
- Increased the number of Real Estate company.
- Government interrupts in the way of development.
- Growing up of overall cost.
- Complexity of RAJUK rules & regulation.
- Project areas are hassle by the local village political.
In our country there is a not adequate land for people’s livings. Peoples are very interested to get a peace of land that meets their housing problem. Roots Developments Limited. Is one of the renowned housing companies in Bangladesh. The company provides complete housing solution to the people. Roots Developments Limited also contributes in our national economy. Main goal of Roots Developments Limited is to provide better services to the customers. Roots Developments Limited has been faced internal problem which is faced by almost every real estate company. At first, it is very difficult to find out a vast area of blank space in Dhaka city. Beside this Government & Non-government organizations always creates political forces. Local terrors often harassed company for donation. It is very though to occupy after buying the land. It is found in most cases that there is more partner or same land & have to face complexion of laws with them.
Today Real state is recognized the world over as the main engine that runs the economy, creating work not only for masons and managers, accountants and architects, but also for makers and sellers of building materials. It means work for maintenances, security cleaning and other services; work for makers and sellers of appliances, furniture and vehicles; work for bankers and bureaucrats, lenders and lawyer. Human being has always been in search of new and better homes. Thus cities, towns and villages grew, flourished and wither away. In the process, societies forever demand and produce all kinds of goods and services, through, never satisfied, we ask for things more different. Real estate visibly shapes the way people live, work and innovates and therefore most strongly defines culture and civilization. In Bangladesh perspective, it is almost impossible for the government to ensure housing for all. As the public sector failed to provide this, people have taken their own initiative to ensure their fundamental need for shelter. Government alone cannot provide housing to all and realizing this, they decided to share the task of providing safe decent places to live with Real Estate Developers, to make people productive resources. So, government should provide much flexibility to the developers to provide better housing facilities not only to higher income people but also middle and lower income people.
At the present time, the population of our country is increasing at very alarming rate but total rent are remains constant. The demand of housing is very high, particularly in Dhaka city. So, the prospect of real estate business is very high. Now if the real estate companies run their business according to the demand of middle class, lower middle class, and higher middle class people, the business must be profitable. From the study, which I have conducted at Roots Developments Limited (RDL) found that they are using all the possible policies to run the business. The report also has shown the overall picture of the Roots Developments Limited and opportunity in Bangladesh.
I was assigned in the real estate sector in Roots Developments Limited. Three months are short to understand every aspect of a company and overall market condition of this sector. Actually it needs more time to determine the over all market size, conditions, opportunity, and business activities of the company.
Within the short time, I have tried to show the overall scenario of Roots Developments Limited and its Marketing activities and actual market image of different company through direct interviews from different customers based on marketing activities of Roots Developments Ltd.
And finally, At last, Roots Developments Limited doing its business successful in our country. It provides its services as per its commitment & improves the business continuously. So from my own experience I may suggest the following Recommendations for sound and success market operation of the company.
As per earnest observation some suggestion for the improvement of the situation are given below:
- To attract more customers Roots Developments Limited has to create a new marketing strategy which will be able to increase their business as it could improve revenue.
- The officers of Roots Developments Limited Corporate Branch think that long term training is required for company officers for the betterment of the service. Computer training is must today to improve the individual as well as company
- Maximum customers are expecting the responsible price, so carefully the price should be established in per flat. All modern facilities are equal distribution in all class of people.
- To provide financial assistance like Desa, Tista, Wasa, T&T to be strengthened & for getting connection of utilities promptly the procedural bottleneck should be
- Improve office atmosphere to give customers friendly feeling.
- Provide intimate attention to customer needs.
- Customer convenience will receive priority.
- Customer database should be more organized.
- Have to more aware about customer’s right.