Marketing Plan on Real Estate1
Marketing Plan on Real Estate1...
Marketing Plan on Real Estate Marketing plan on real estate company „UNITECH‟ | Module – GMSI 579 | MODULE LEADER: MR.ROHIT SINGH | | GROUP MEMBERS:Ankur GuptaRuchika AgrawalRuhi SharmaSandeep SinghShreya Jindal | | | | EXECUTIVE SUMMARY: In any business environment where there is cut throat competition and where number of organisation are chasing the same dollars, volunteers and business sponsors, to stand out among the crowd is critical to success. UNITECH Builder is one of the largest real estate Developer in India with around US$ 5 bn market capitalization. Turning many barren landscapes into landmarks UNITECH has an experience of 20 years in real estate development. It comes under the top 50 real estate companies in the world and boasts development such as South City, Nirvana Country, Cascade, The Close and many more remarkable developments are there. Reliance and commitment is the cornerstone of Unitech‟s corporate philosophy and combined with an exceptional insight that how people aspire to live. The first real estate company in India is Unitech which has achieved the ISO 9001-2000 certification for planning, Marketing and Construction of real estate in the National Capital Region. Unitech is committed to develop energy efficient green buildings and is also a registered member of the Indian Green Building Council.
A great experience in developing prestigious projects across India an Unraveled expertise makes the Untiech the niche of conceptualizing and delivering world class IT/ITes parks, commercial complexes, SEZ‟s , schools, malls, hotels, integrated residential development and amusement parks. Today Unitech is one of the leading real Estate Developers in India. Established in 1972, and now a pan-India presence has been established but earlier Unitech was focussing more on National Capital Region (NCR and is one of the largest and the leading real estate developers in India. The prestigious title of Super Brand by Super Brand India was awarded to Unitech recently. They always believed that the real estate is all about creating state-of-the-art destinations that gives people a different and much better lifestyle, whether in terms of working, living or entertainment. They give high quality housing, retail spaces, amusements parks, office spaces and even hotels. In our project we are working on the entirely new project i.e focusing on the luxury home and as keeping this in mind we have prepared a project that is „ORCHID GARDEN CITY‟ at Sohna road Gurgaon. This includes all the basic feature of luxury homes and the target customer was the upper middle group people. The marketing plan is made on the basic of the concept “customer is king” and thinking in accordance to the customer point of view this plan is made. The whole project will be completed within the time period of 3 years and there is strict work on the time bound possession. The purpose behind launching “Orchid garden city” by Unitech is to consider the whole mass, so that most of the persons can be able to enjoy the facilities of luxury homes. When customer enter into high investment real estate transaction this will become more necessary to build trust. Therefore the objective of them is to make customers happy by fulfilling their demand up to some level. The whole idea is to construct a MULTISTOREY FLAT that is a high rise building. The whole land is of 8000sq.mtr, where one fourth is the covered area and rest is the open area for other facilities. There are 3 multi-storey blocks with 2 blocks of 6000sq.ft and 1 block of 9000sq.ft respectively each block consist of 14 floors. the flat of 3BHK the pricing will be 42,00,000 and
for the 4BHK the pricing will be 63,00,000. The pent house price is depend on the square ft. Its 1800-2250 sq.ft which will cost around 81,00,000 – 10,125000. As, we targeting the upper middle class of customer, the pricing is set according to that. The „Orchid Garden city‟ is located in a good neighbourhood with all modern conveniences and amenities. It is strategically located in the Sohna road, Gurgaon few minutes away from the Delhi airport. The surroundings of the apartments are nature friendly with greenery everywhere as there 75% of the area is open area, where there is numbers of facilities. The sights are beautiful and the surroundings serve the healthy environment. It is a true fact that a booming product or service means nothing until and unless the benefit of the product is communicated well to the targeted customer. Unitech is already a renowned name; everyone is familiar with the company and the quality of product which it delivers. Keeping all these factors in the mind we have progress our project with all the other essential data. CONTENTS S. No. | Topic | Page No. | 1. | Current Marketing Situation | 5 | | (A) Market Description | 5 | | (B) Product Review | 8 | | (C) Competition Review | 10 | | (D) Channels and Logistics Review | 12 | 2. | SWOT Analysis | 14 | 3. | Objectives | 17 | 4. | Issues | 18 | 5. | Marketing Strategy | 20 | | (A) Product | 20 |
| (B) Price | 24 | | (C) Place | 25 | | (D) Promotion | 27 | | (E) Positioning | 30 | | (F) Marketing research & organisation | 31 | 6. | Action Program | 33 | 7. | Feasibility Study | 36 | 8. | Implementation and Control | 44 | 9. | Bibliography | 46 | MARKET DESCRIPTION Unitech Limited is a Real Estate company in India. It is climbing the ladder of success day by day. The company has entered into a diversified market such as Residential sector, Commercial sector, IT parks, SEZs, Hotels, Schools and Amusement Parks etc. The market share of the company is also growing day by day with its diversified market into every sector of real estate. The current market capitalization of the company is Rs.96, 933.95 millions. The Unitech Limited‟s positioning is very good and it can reap the benefits from its growth. The company is in existence since 1971 and it is gaining experience from near about 35 years. The working scale and market size of the company is very large. It has developed a large bank of land/area over the years. It has become one of the leading company in real estate sector. Unitech has captured the Premium market segment because of its valuable core values. The core values of the company are: * Superiority: It provides the highest quality to its customers. * Reliability: Customers can rely on this company‟s honesty. It provides best services to its customers.
* Service Satisfaction: The Company provides highly equipped and efficient dealing operations. By these super core values of the company it has been successful to capture the large market share of the real estate sector. In the Residential Sector, for the Premium segment Customers the company has done the Market Segmentation on the following bases: Geographical segmentation: * Regions: North, South, East, West * Cities: Metro cities like NCR, Mumbai, Chennai, Kolkata and various other cities * Urban Areas Unitech has its existence in all major cities and in all four regions of India. Unitech is the first real estate company which has been awarded by the ISO 9001:2000 Certification in North India. Currently Unitech is working on more than 22 residential projects in Mumbai, Kolkata, Chennai, Delhi NCR, Mohali and Lucknow. Unitech segmented the urban areas for its products and services. The company has 10,600 acres of lands across all over India and the distribution of the land has been done in the major and well developed cities of India. The map below is showing the distribution of the land and its various housing projects. Demographic Segmentation: * Gender: male and female * Occupation: Business class people Unitech Limited targeted Luxury and Upper middle housing segment. Unitech tries to attract the Premium segment customers. In the last fiscal year 2010, the company got high bookings of its residential units. In Gurgaon, the launched area was 9.6 mn sq ft and out of that the sold area was 8.1 mn sq ft. The table below is showing the bookings of its launched and sold area in the last fiscal year:
City | Area launched (mn sq ft) | Area Sold (mn sq ft) | Gurgaon | 9.6 | 8.1 | Noida + Greater Noida | 2.6 | 2.8 | Chennai | 6.2 | 2.0 | Kolkata | 3.6 | 3.1 | (Source: Unitech Ltd. making key strategic moves, 2010) Psychographic Segmentation: Under this segmentation, the company has targeted the high class or luxury living people. The personality and the lifestyle of those customers is also very high class. The cost of these residential units is up to 3 crores and above 3 crores. The company has targeted the high socioeconomic class under this segment. Behavioral Segmentation: * Occasions: Special occasions * Readiness stage: Aware and informed * Loyalty Status: Strong Unitech Limited has segmented the luxury living people so their loyalty status is very strong towards them. They invest in to the luxury living products of Unitech as it is well known and leading company in the real estate sector. The readiness stage is aware and informed because Unitech does proper advertisement of its new projects and apart from this brochures of the upcoming project are also given to customers to inform the customers. PRODUCT REVIEW: Now Unitech Limited is coming in the market with its new project “Orchid Garden City” for the upper-middle level customers segment. It is located in Sohna , Gurgaon. The specialty of Unitech housing projects is that they
provide the quality product and Unitech is also known for its quality. The new housing apartment of Unitech has been designed by the wellmanaged, efficient and standardized architectural team. Unitech‟s strong point is that, the company provides a unique structure in its each and every project and the management or working style of every personnel is standardized by the professionals. Following are the features and Location of the new project “Orchid Garden City”: * Apartment is surrounded by the greenery of Unitech World‟s natural environment. * The sights are very beautiful and just the thing for you and your loved ones. * The apartment and flats are very spacious and airy. * The modern or up to date designs of flats are very excellent in quality and have enough space to use up the precious and beautiful moments with the family. * The location of the building is just few killometers away from the airport and the metro station is also near by the apartment. * There are various sources of recreation with in the apartment like Jogging tracks, Gymnasium, Indoor Jacuzzi, Tennis court, Club House, Swimming pool, kids play area, café, shopping arcades. * The community centre is the best place to meet up with the friends within the apartment. * The place is safe with the secured and gated community. * Separate floors. * The area of ““ORCHID GARDEN CITY”” apartment is around 8000sq.ft of land that is why it is very spacious. * The designs of flats are well-organized and are constructing by vaastu complaint and due to this advantage the maintenance cost is minimum. * No extra charge for parking space. It is complementary for all flat holders.
Flats Specifications: Flooring | Living Room Dining Hall Lounge Stair case | Italian marble Italian marble Italian marble Stones | Wall finishing | Internal External | plastic paint Brick cladding and Textured | Kitchen | Flooring Platform | Ceramic Stoneware floor tilesStainless steel sink with broad Drain board and modular kitchen. Branded C.P fittings and china wear branded | Balconies | Flooring Walls | Rustic Stoneware tilesTextured paint | Doors | Main Door Internal Doors External Doors | Seasoned hardwood frameSeasoned hardwood frameAnodized aluminum and flush doors | Windows | | Aluminum Power coated | Toilets | Flooring Fittings | Ceramic tilesModern fittings of pipelines for geysers and white coloredWash basin | Electrical & Communication | | Cooper wiring and telephone jack | Building | | Spacious parking lot and earthquake resistant construction, sufficient open area | (Source: Singleton-mohali- brochures, 2010) Competition Review: Unitech and DLF are the main competitors in the real estate sector. Both the companies are large enough and have the influences among the people. Unitech and DLF have the major competition in housing apartments. The main housing projects of unitech are: * Luxury Living * The Residences * Escape Premiere * Fresco Nirvana Country etc.
The main housing projects of DLF are: * Express Greens * Commander‟s Court * Garden city * The belaire * Alameda Apart from the DLF, the other competitors of Unitech are: Supertech and M3M. The housing projects of supertech and M3M are: Oxford Square and Golf estate respectively. Unitech has its advantage in the high quality of its products but there is a disadvantage also that it provides the housing apartments only to premium customer segment. But gradually it is entering in to the low budget segment also. The DLF, Supertech and M3M provide the housing apartments to high budget segment as well as low budget segment. Following is the comparison review of these real estate developers. RealEstate Developers | Unitech | DLF | Supertech | M3M | Name of the Residential Project | Luxury Living | Express Greens | Oxford Square | Golf Estate | Specifications: | | | | | a.) Flooring | Vitrified Tiles And stones | Vitrified Tiles | Vitrified Tiles | Vannila Tiles | b.) Infrastructure | Wooden Framework | Wooden Framework | Classic | Classic | c.) Ceiling | Oil bound Distemper | Oil bound distemper | Oil bound distemper | Oil bound distemper | d.) walls finishing | Brick cladding & textured | Oil bound distemper | Combination of ceramic tiles | Acrylic Emulsion |
e.) Electrical fittings | Concealed Cooper wiring | Single Lever CP fittings | CR fittings | Sheets & switches | Other Features: * Luxury Living is located just 10 ms away from Airport whereas Express Greens is located around 4 kms away from N.H 8. Oxford Square is located in a peaceful area and Golf Estate is located near by the famous malls of the city. * Luxury Living is safe and secure with the gated community where as the Express greens and oxford square is also safe but it has no arrangements of proper security. * Luxury living have various facilities within the community like Jacuzzi, swimming pool, community centre, club house, kids play area etc. whereas Express greens and oxford square have the facility of swimming pool and library only. * The land area in luxury living apartment is 300 acres where as the land area in express greens is just 60 acres and in oxford square is 45 acres. * In the Oxford square residential apartment the designing of the flats have done according to the vaastushastra and fengshui where as in luxury living and express greens have not done it. * All the four competitors have the layout of centrally air-conditioning. * In the luxury living apartment there is a choice of 2 BHK, 3 BHK, 4 BHK flats. In Express Greens, there is a choice of 2, 3 and 4 BR and G+2 floors and in Oxford square there is a choice of 3 bedrooms + servant room and 4 bedrooms + servant room. Channels and Logistics Review: Unitech Limited is very promising in the quality they provide. The company is based on the principle of dealing with the clients so tactfully so the clients can feel that they are the partners in the company. Unitech is known for its quality product. The company uses a lot of safety measures for the clients as well as during the construction of any of the projects. Their main
purpose is to ensure the clients that they will live safe here. The safety protocols and modern schedule adopted by the company helps in many ways. As Unitech is known for the quality they provide, the company never leaves a chance of any mishappening and for that they recruit a large number of labors at workplace or at construction site. For the designing of the buildings and flats, Unitech appoints the architectures from the UK and USA. The stock for the construction site is hired by the local dealers. For Luxury Living housing project, the company has recruited the labor from Gurgaon itself. The main professional personnel have come from the headquarters. Bricks, cement and other required things have been hired from local dealers. The furniture and fittings have been purchased from the most popular dealer of the city like Chizzle furniture house. The other requirements like pipelines, washbasins, electrical material, tiles for flooring, wooden frames, paint etc. all the material have been bought from the local dealers. Unitech‟s team coordination helps them to gather the sources of the construction before the time so that they can ensure the best delivery of the product. This can be seen when the company personnel hire the workers, gathers the sources or materials, and taking out the maximum benefits from the local dealers. During the construction the company always thinks about the sustainability whether the they are constructing the residential buildings or commercial buildings or institutional buildings. The company always tries to give the maximum benefits and facilities to the customers. The main reason behind the success of the company is good workforce at the workplace. The company‟s personnel have team coordination; they know the importance of transparency in the work dealings. The company gives high rewards for the high performance because they want to deliver the best. At the construction site, all the works are done in a very comprehensive manner and with the transparency. The company be in touch with the clients for their special requirements: if any. By these ways the company has a symbol of loyalty in every work they do. SWOT ANALYSIS A swot analysis is a strategic tool which helps in uncovering the strengths, weaknesses, opportunities and threats of the product
STRENGTH: Strength can be defined as any technology, finance, motivation, internal asset, business links etc. That can help to fight off the threats and can take advantage of the opportunities coming towards us. * Raised the employment and training opportunities among the employees in the field of construction. By which the employee‟s moral level increases and they get motivated to work hard and give their best performance in the making of the product. * The quality of the product is extra-ordinary, the standards maintain by the company is for the upper middle class group of people, as they want a luxury flats with a high class quality, we are providing them the best furniture, best equipments and other features which will rate our product amongst the top most real estate project. This is one of the strength which is measured by the company, as the company is providing one of the best features within a sensible price the customer get influenced by this. The basic advantages are: * Connected to NH-8, the Delhi and Jaipur express highway. * From IGI airport, hardly 20min drive * The road leading to the site are broad and well constructed. * Extra-ordinary features in the flats * Effective advertisement and promotional strategy * Te serve the product within the time bounded * By giving extra features like pent houses in the plots. * Earthquake resistant construction. WEAKNESS: * Unitech has the bigger name in the market * Lack of public transport.
* Inadequate and inconsistent electricity supply from government * Sohna road was planned to be 6 lanes and then has decided to be 8 lanes but till now there is no progress. * Will not be able to cop-up with expected volume of traffic. * Due to 3 blocks construction there may be problem of sun facing apartment. OPPURTUNITIES: * Capturing the untapped market, there is not as such any good project on this location. * Sources of advertisement are more * Rising standard of living * Easy availability of loan * Changing customer preference as upper middle can also afford the flats. * Increasing the purchasing power of the Indian consumers THREATS: * Safety of infrastructure is a challenging job in construction industry * Political issues on the promotion of new strategies * Availing competition threat. * Current economic condition may affect the construction adversely. OBJECTIVES AND ISSUES OBJECTIVES The main objectives of the organization have been segmented into two parts. In first part we are discussing the objectives related to the organisation and in second part we‟ll discuss the objectives of product which company wants to achieve.
Objectives for the growth of the company 1. Profit maximization 2. Developing solid identity among consumers on a specific target market 3. Generate profits from investments The purpose behind launching “Orchid garden city” by Unitech is to consider the whole mass, so that most of the persons can be able to enjoy the facilities of luxury homes. And for achieving this goal company should need to follow up some objectives which are explained below:1. Promote trust- The main objective of “ORCHID GARDEN CITY” is to build trust of customers. When customer enter into high investment real estate transaction this will become more necessary to build trust. Therefore the objective of them is to make customers happy by fulfilling their demand up to some level. 2. Attract buyers- The another main objective which is lay down by “Orchid garden city” is to attract customers through various promotion strategies and also by providing them unique features or facilities which they will not get anywhere else at this price. 3. Time bound possession- Delays in handling over ownership to the customers will have negative effect on the builders. The main objective place by Unitech for Orchid garden city is “no fear from delays”, Unitech will ensure to their customers that they are not suppose to worry from delayed possession of flats. 4. Quality products:- Unitech wants to make an image of “Orchid garden city” as a safest city which will be built with latest technology. Especially we are careful regarding the quality of the product for which customers are coming to us. The main objective of Orchid garden city desires to provide luxury living with less prices along with finest quality for fulfilling customers wants. 5. Building brand image:- The another significant objective of this project is to create brand image among customers by providing them attractive services like Orchid garden city is providing the facility of swimming pool,
clubs which includes sports clubs, gyms etc and also swimming pool along with a small shopping complex for purchasing day-to-day items. Company will also make image by differentiating their products from others products like the focus of orchid garden city is on whole mass rather than focusing only on NRI”s. Above all , the most important objective of orchid garden city is to build its image through its activities . 6. Awareness among customers: - The objective of this marketing plan is to ensure customers that this service is for them who want to enjoy the features of luxury homes but they cannot afford luxury living. ISSUES The above mentioned objectives will help the company in achieving the target sales but there are some major issues in the way to attain the objectives are as follows1. Competitor approach: - In todays world if an organisation want to earn more profit than their competitors they must be more creative and forward thinker. In real estate professionals are changing the way of doing business. Now they are more i in attracting potential customers. Everyone offers something different or we can say something good or unique. That‟s why competition is rising and hence the feasibility of this marketing plan is dependent on the market strategies of other organisations. 2. Market conditions: - The provisional slowdown in banks foreclosures can be easily appeared that the housing market has struggled in the fourth quarter of 2010 and this will be continued in 2011.It is expecting that the the banks will step up the foreclosure process and because of this interest rates will also increase.which will have the negative impact on the prices due to which first-time home byers still need to struggle. 3. Environmental issues- Environmental issues normally occur in all types of real estate dealings. Managing the associated risks is almost always possible. The bigger challenge tends be initially spotting environmental issues. Failure to identify and address such issues may result in parties unknowingly assuming substantial liabilities.
4. Moral issues- Orchid garden city has decided that they will not delay possession of flats, but if by some case organisation is not able to give it on time than consumer can also file case on us on delaying in the possession of the property. And they can also file a case if the apartment is exactly the same as conveyed to the customers by showing them the model or by the advertisement. This is also a major issue on which must work. FOUR P‟S OF MARKETING FOR „ORCHID GARDEN CITY‟ PRODUCT: The first of marketing is product which refers to the tangible or as physical product itself. This includes the wholesome design of the product, the brand name, the functionality and the description about the features, safety, quality etc. UNITECH is currently launching its new product that is „Orchid Garden City‟ for the upper middle group of people. The main motive of the company is to give the luxury living to the mass of the people. These days real estate is seeking boom in our country with the rise in the disposable income and growing middle class, increasing in the demand of quality residential real estate as an investment option. Every family looking towards the real estate for the best investments and they are in search of luxury living with the best suited price to them. This effort was made by Unitech Builders, they launched luxury living residential housing in the SOHNA road, Gurgaon, which targeting basically the upper middle level group people as other competitive companies like M3M and Supertech focusing more on NRI and rich class people, „Orchid Garden City‟ comes with a new and demandable product in the market and it catches the eyes of many targeted customers and living near by the Gurgaon and in the NCR region. As for today scenario every person wants a luxurious home with all the facilities and amenities with a standard price. The main focus is always on the location of the product, as it is in the NCR reason, there are number of respondents who seeks interest in the project. The whole idea is to construct a MULTISTOREY FLAT that is a high rise building. The whole concept of the product is mentioned below
HIGHLIGTHS OF THE „ORCHID GREEN CITY‟ * The whole land is of 8000sq.mtr, where one fourth is the covered area and rest is the open area for other facilities. * There are 3 multi-storey blocks with 2 blocks of 6000sq.ft And 1 block of 9000sq.ft respectively each block consist of 14 floors. * 1st and 3rd blocks consist of 14th floors where 12th, 13th & 14th floor are Pent house and below 11th floor there are 3BHK flats, five flats in per floor, 1200sq.ft each. For the Pent house the service are extra-ordinary and different amenities are there like: * Terrace garden * Full furnished * Designed Asian paints * Modular kitchen * Four BHK * The whole area of pent house is 1800-2250sq.ft and there are four Pent house. * 2nd block consist of same 14 floors where the pent house location is same of 12th , 13th & 14th floor, with the same facilities and there are four pent house per floor and this building is of 4BHk, per floor five flats, with 1800 sq.ft each. * In the 2nd block the pent house is of 2250sq.ft each * All three buildings are interconnected through a passage and lifts. * Open area consist of: * Swimming pool
* Ample space for Parking * Children‟s playing Garden * Well equipped gymnasium * Badminton court * Tennis court * Social club for parties and other official use. * 100% Power back-up * Facilities: * Earthquake resistant construction. * Around the clock security system * Each flat consist of electronic security system * CCD camera‟s on the entrance and on staircase * Fire fighting equipments * LPG gas pipe line install in every flat * In total there are: * 201 flats * 110 – 3BHK * 55- 4BHK * 36- Pent house * Per floor – 15 flats, in the 1st and 2nd block there are 3BHK flats, five flats per floor and on the 12th, 13th, 14 floor 4BHk pent house, four pent house per floor.
* In the 2nd block, 5BHK flats per floor 5 flats and on the 12th, 13th, 14th floor 4BHK pent house, 4 pent house per floor. * Every flat consist of three/four bedrooms with kitchen, drawing &dining hall, lounge and bathrooms. * Bedroom is 125sq.ft to 150 sq.ft * Kitchen is 6*12 * Drawing room is 300sq.ft-350 sq.ft * Lobby is 96sq.ft * Bathroom is 60-70 sq.ft * Total 8000sq.mtr land is there, where one fourth area is cover area i.e. 2000sq.mtr * Adding 6000sq.ft, 9000sq.ft, 6000sq.ft = 21000sq.ft converting it into mtr. 21000/10.76 = 1951.67 which is approximately 2000sq.mtr Hence, each building is divided accordance to the one-forth cover area, for every flat the distribution is according the per flats. For the 4BHK there is 9000 sq.ft and for 3BHK there is 6000sq.ft. Super area-1200sq.ft but loading is only 20 to 25% Carpet area-900sq.ft The pent houses are extra luxury flats focusing on the joint family needs and other priorities of the customers. The facilities given in the pent house are more as compared to the normal flats. There is terrace for every pent house, where there is a facility of terrace garden and other use. Every pent house is provided with the full furnished home with Jacuzzi bathrooms and facilities in kitchen like microwave, refrigerator, other marble tile , modular kitchen whereas other 3BHK and 4BHK consists of some of this facilities available in kitchen and in rooms wooden flooring etc. The flats are constructing in viewing the best possible interest of the customer and try to execute the world class facilities with best features to
serve the customers. In every flat there is Italian marble flooring covering living room, dining hall, and lounge. Plastic paint is used for the internal wall finishing and for external brick cladding and textured is used. There is ceramic stoneware floor tiles in kitchen with stainless steel sink with broad Drain board with best branded C.P fittings. The doors are seasoned hardwood frame for the internal and external doors are Anodized aluminium and flush doors. There is spacious parking lot and Earthquake resistant construction. The product is made on the expectation and on accordance on the market demand. As home is the only product which everyone wants a good first impression and want it to be the best. PRICE: Every customer basic need is the satisfaction level which they get after paying a vulnerable price for any unit of product. Hence pricing is one of the most essential elements of the marketing mix, as it is the only factor which generates turnover to the organisation and provides a self satisfaction on the customer point of view. Price is the one of all the aspects of marketing mix which creates sales revenue- all the others are cost. The price of the „Orchid Green City‟ is clearly an imperative determinant of the value of sales made. Consumers opinions regarding the price of the product is very essential as it indicates, what they are looking for and how much they value and what they want to pay. The pricing policy of the organisation varies according to the current time and circumstances. Rise in the disposable income and growing middle class, increasing the demand for quality residential real estate and considering real estate as an investment option. The pricing criterion of „Orchid Green city‟ is as follows: TYPES | sq.ft Area | Per sq.ft COST PRICE | Total(In Rs.) | No. of flats | PENTHOUSE | 1800-2250sq.ft | 4500/sq.ft | 81,00,000- 10,125000 | 36 | 4BHK | 1800sq.ft | 3500/sq.ft | 63,00,000 | 55 | 3BHK | 1200sq.ft | 3500/sq.ft | 42,00,000 | 110 | | | | | 201 |
The above table shows the different pricing as per the requirement of the customer. If the customer is willing to purchase the flat of 3BHK the pricing will be 42,00,000 and for the 4BHK the pricing will be 63,00,000. The pent house price is depend on the square ft. Its 1800-2250 sq.ft which will cost around 81,00,000 – 10,125000. As, we targeting the upper middle class of customer, the pricing is set according to that. Expected profit is of 10% is also to be included in the above mentioned cost. Cost of construction: Cost of construction is different for Pent house and 3BHK or 4BHK flats, as we are providing extra-ordinary facilities in the pent house like fully furnished, modular kitchen etc the cost of construction rises as compared to the other flats. The pent house is covered with extra facilities for the convenience of the customers, so that they can get maximum level of satisfaction after investing huge amount on it. There is a new trend emerging where the real estate developers are providing luxurious living, premium housing etc. FLATS | Per sq.ft AREA | Per sq. Ft (in Rs.)COST OF CONSTRUCTION | PENT HOUSE | 1800-2250sq.ft | 1500sq.ft | 4BHK | 1800sq.ft | 1000sq.ft | 3BHK | 1200sq.ft | 1000sq.ft | PLACE: In every business while launching any new product PLACE plays a vital role. Without knowing the right place and the right target audience, no business unit can succeed. For the product like Unitech „ORCHID GREEN CITY‟ the decision of selecting right place was very important. Place is something where our product is distributed among the customers and sold. The „Orchid Garden city‟ is located in a good neighbourhood with all modern conveniences and amenities. It is strategically located in the Sohna road, Gurgaon few minutes away from the Delhi airport. The surroundings of the apartments are nature friendly with greenery everywhere as there 75% of the area is open area, where there is numbers
of facilities. The sights are beautiful and the surroundings serve the healthy environment. The project is located in the one of the best location of NCR. As there is sudden boom in this area and high tech company like M3M is working under this location. Gurgaon, the hub of all the major BPO‟s and software companies in the north India, has become the cynosure for all the investors of real estate. With the entrance of the superlative Corporate, Fortune 500 companies including IBM, Pepsi, DuPont, Coca Cola, Microsoft, telecommunication, Nokia etc and MNC‟s are the highlights in the satellite city of the Haryana. The demand of commercial real estate is increasing in Gurgaon, which has gone up significantly and many big enterprises have been changing their basis from around the world to this miracle city of Gurgaon. All the facilities accessible in National Capital are endowed in the location. All this things make Gurgaon the hot destination for corporate offices. More extensively, Gurgaon properties are greatly utilized for the office spaces as the city provides favourable business environment and hi-tech environment to the buyers. LOCATION: * Situated at the Sohna road, Gurgaon. * Connected to NH-8, the Delhi and Jaipur express highway. * There is 0kms connectivity from the proposed Dwarka expressway. * From Rajiv Chowk approximately 10 min on drive. * From IGI airport, hardly 20min drive * Connected to nearby metro, hudda city centre * World class medical facilities nearby like Fortis, Max health care, Artemis, Vedanta etc., covering with leading schools like Scottish high, Pathways International, G.d Goenka world school and many other commercial complexes and malls. * 24 hours ambulance on call from Max health care Gurgaon.
* Easy access to the neighboring malls and market for daily needs and groceries. PROMOTION: Business of communicating with the customers is known as PROMOTION. It provides a basic of information which enables the customers to make a decision regarding a particular product or service. The cost associated with the promotion of a product or for advertising a product is often represents a considerable proportion of the overall cost of producing the product. But, on the other hand, a successful promotion increases sales so that the other costs and advertisement cost and other promotional cost are spread over a larger output. More of the promotional activity is often create a problem such as increase competitive activity, it develops the product in the eyes of the customer and hence promotional activities and promotional strategy plays a major role in the success of the product. Hence, it is a true fact that a booming product or service means nothing until and unless the benefit of the product is communicated well to the targeted customer. Unitech is already a renowned name; everyone is familiar with the company and the quality of product which it delivers. For promoting the „Orchid Garden city‟ following strategy are adopted: PROMOTIONAL STARTEGY: There are two modes of advertisement basically i.e. PRINT MEDIA & TV MEDIA. Under print media advertisement the promotion is done on Newspaper, Magazines etc. And under TV media promotion is done on TV, radio fm etc. 1. NEWSPAPER: Newspaper advertisement is one of the best ways to promote the product. As the Unitech is already having so much fame in the market, everyone know about the goodwill of the company but for launching a new product newspaper is amongst the best option for advertisement as approximately 85-90 percent of the population read a newspaper, and this is the one of the reason it is very effective. Many real estate agents and brokerages these days consulting the newspaper as the mainstay of the advertisement,
many younger and more well-heeled families get their information and news from newspaper. 2. RADIO ADVERTISEMENT: This medium is basically targeted the young customer and the office going people. As radio is one of the tools which is certainly listen by variety of audience. Giving repetitive advertisement in the Radio Fm makes the product familiar in the eyes of the customer and it brings a glimpse of product in the mind of the customer. Working on the attraction of the customer, radio jingles services are equally effective. In these service, a jingle is create for our product and for the brand too and is put on air, it helps in increasing the visibility of our product that we going to launch and also about the brand among the targeted customer. This is one of the economical tools and it helps in creating the mass awareness. 3. HOARDINGS AND BOARDS: Hoardings are installed outside the open areas in the large poster; it is placed on the highways, on the top of the buildings. For the promotion of the „Orchid Green City‟ the hoardings and boards can play a good role by putting the boards inside the airports and other large facilities as they are effective in delivering the message and it is good in terms of grabbing the attention of the customer as they are not surrounded by text and editorials, they include minimum text and are picture based, attractive piece of art. We can place the hoarding on the boards on NH-6 Delhi, Jaipur express highway as there are so many people who travel from that road on the daily basis and same goes near the toll booth of Gurgaon, there those hoardings and boards gain maximum attention in the eyes of the customer. 4. BRAND AMBASSADAR: By appointing one brand ambassador for the product will throw more influence in the eyes of the customer. For promoting the „Orchid Garden City‟ the brand ambassador will be VIRAT KHOLI the famous Indian cricketer. As the player is known to every single Indian home, by promoting the product by him will influence people mind. 5. EXISTING PROJECTS:
The existing projects of the UNITECH will also influences the sale of „Orchid Garden City‟. As the existing projects of the Unitech is well known and renowned in their own. Like the Nirvana city, the signature tower and other ongoing projects. 6. NEON LIGHTS BOARDS: This is one of the attractive modes of promoting the product. By mentioning the important things related to the product on a neon light board it will attract numbers of buyers, especially at the time of night these neon lights boards seeks special attention by the people. This is another a innovative and economical way of promoting the product. 7. ADVERTISEMENT BALLOONS: These are the special attention seeker promoting tool, by giving the ads on the air balloon and placing it on the open area or in the direction where large numbers of people can see it. It will create a good appeal to the customers and they will seek more interest in the company brand and its product. 8. ONLINE PROMOTION: This is one of the most common methods of promoting the product as now days 90% of the population surf net by hundreds of social sites like Face book, link din, Google ads, yahoo ads, which seek people attention and attract them as they flash on their computer screen. Online promotion includes company website which Unitech already having and we can prepare one more website for „Orchid Garden City‟ capturing its features and basic things to knowledge the customer. 9. BROKER MEETINGS: Brokers are those middlemen which brings the customer to the site and make them aware of the benefits of the product, irrespective of the fact that they charge there commission but their influence are more on the customers. Regular broker meetings will encourage them to work more and to bring on more customers to the destination. 10. SPONSORING SHOWS:
By sponsoring different shows and concerts will make people aware about the product and by giving them the advertisement in brief between the shows will make the product visible in the eyes of the customer. POSITIONING STRATEGY Business positioning strategies help companies in creating their identity for itself and for its products. The main goal of positioning strategy is to create an image among customer, so that if someone is deciding to purchase any flat for luxury living the first name which must be come to their mind will be “ORCHID GREEN CITY”. And for succeeding the product positioning we will adopt following points:* Competition Real estate business is really an important part of Indian economy and as we know that real estate is growing day-by-day along with that the competition is also rising. Everyone wants to grow as fast as they can for that they are adopting different strategies for making their image in front of customers. And for creating different entity among customers one should know how to differentiate their products from others. As Unitech has launched a new service of luxury living which will called “orchid green city”, offering luxury living is not a new service but what is new in this project is that , Unitech is launching this service for uppermiddle level which was earlier offered by others just for rich buyers . It is really an important and also very effective point which will attract the customers and will also differentiate this service with other services. * Customer Interaction Customer interaction is really an important strategy which can be applied through different ways .as we know that there are so many ways of interaction but also there are so many businesses which are different from each other so one should adopt a strategy which will relate to their selective business. As this project is of real estate so we need to use those strategies which will suit to the business. By using new technologies one can easily differentiate their services or products from others.
For maintaining position among customers for interaction we will educate our customers through some attractive techniques like online-mailing to the public,by placing attractive hoardings everywhere , showing advertisements in newspapers attractively which will include pictures , through existing projects, and we will also place advertisement balloons on some places for attracting customers. After doing all these things when our customers are aware about our product and if they have any query we‟ll talk to them personally for telling about the product/service exactly . * Social media Social media is an effective tool which will help in creating lead generation strategy. It is an important and very effective tool which usually does effort for creating their image and for attracting customers and it also encourage readers to share it with others. That‟s why now a days this tool is very effective because through this tool product knowledge can be explored easily. We will place our advertisements on face books, orkuts, LinkedIn etc. * First to Market Making position of the company to be the first time is really an very effective positioning strategy which will help in making the image of the company among customers. Orchid Green City is launched for the time which will provide luxury living product to upper-middle level customers in less prices. This is the main point which will attract customers because now upper-middle level customers can also enjoy the facility of luxury living.it will also help in gaining shares. Market Research & Market Organisation Unitech is one of the leading real estate developers. The company has an experience of tremendous working years with the excellent performance record on large scale and incorporated real-estate development. The new residential project of Unitech has come into picture because of the company‟s market value. Although, the scope of the progress in residential
projects have increased because of the GDP growth and raising per-capita income and there are many other companies as well in the real estate sector which are the competitors of the Unitech. But, the reasons of successful launch of the “ORCHID GARDEN CITY” are the quality and unique structure of the building. The company decided to come up with the new project after analyzing market situation and the current market value or reputation of the company. Unitech is present in all the major cities of India. It is a well known company in the real estate sector. The company analyzed the overall presence and the diversified land in all across India because of that it can provide the broad range of products. Apart from these reasons, the word of mouth of the Unitech is stronger than other companies like DLF, Supertech and M3M. Unitech provides differential interest rates also. Unitech obtained the high margins in fiscal year 2010 because of the high bookings of the residential units and now Unitech‟s housing projects have spread across all major cities and “ORCHID GARDEN CITY” is one of those projects. Unitech has added some new features in “ORCHID GARDEN CITY”. The company decided the location of the project, after going through the deep analyses of the other competitor‟s projects. “Orchid Garden city‟‟ have the excellent connectivity between Delhi and Gurgaon. The cash flows of the Unitech are more than the DLF, Supertech and M3M. Unitech has targeted the premium segment customers. DLF, supertech and M3M have the segmentation and targeting strategy for the middle class people. Unitech did the market research and analyzed that because of the rise in sixth pay scale recommendations the income of the people will rise and the demand for housing will also arise. Unitech limited studied the whole scenario of its competitor‟s strategy and then implement its plan to execute the new housing project, “ORCHID GARDEN CITY” ACTION PLAN FOR „ORCHID GARDEN CITY‟: To prepare the marketing action plan and to follow it is an ongoing process. Good planning guides us on our way to accomplish our immediate and short term goals.
As we proceed towards the action plan, we will gain experience which will benefit us in what we have learned to set and achieve in our mid and long terms goals. And as we move on the goals, the goals which we have achieved will become the initial or the starting points or the benchmarks for the new upcoming goals. The action programs of a marketing plan explain the time frame and activities to be done in the particular course of time. It tells about what will be done, when it should begin and it should be completed. Stage1: Target audience: We will target our audience on the basis of market segmentation:Demographic segmentation: * Family Size: * For nuclear families : 3-4 bedrooms set * For joint families
* Income : Annual income between 1cr-1.50cr * Occupation : Business class people Behavioural segmentation * Benefits: The benefits which customer requires from the product are quality of product which includes comfort level of it and how much luxuries it is. * Readiness stage: Aware and informed * Loyalty Status: Strong Psychographic segmentation * Life style and personality : Orchid Garden City targeted at upper middle level customers.
* Target people
: Targeted the high class or luxury living
Geographic segmentation * Regions: North * Cities
: we are considering NCR cities
Stage 2: PROMOTIONAL STRATEGIES It provides a basic of information which enables the customers to make a decision regarding a particular product or service. Hence, it is a true fact that a booming product or service means nothing until and unless the benefit of the product is communicated well to the targeted customer. Promotional strategies which are undertaken are among the two media i.e. the print media and the TV media. By giving ads in newspapers, Radio Fm, hoardings & banners, by creating awareness among the customers by sponsoring different concerts and shows and giving them regular update on the online web-site of the company. All these modes of advertisement helps in increasing the visibility of the product in the eyes of the customer and it will also increase the demand and the brand image. Stage: 3 Sources of funds For implementing the above two steps we must be aware about our financing resources which are available with us. Following are the sources which we will take into consideration for the implementation of our project:Loan from bank: The most preferred and obvious choice for raising our funds is bank. The bank which we have selected is HDFC bank for taking loans. Investment from Unitech Limited: The amount which we will get from here will be used for construction and remaining will be used for promotion of the project. Booking amount from costumers: We have decided that 25% of the sale amount will be taken as booking amount which we will use for the balance
construction and also for other expenses like salary for the staff, payment of loan interest etc. Stage-4: COST ESTIMATION To meet the best prospective and to make our product exclusive it is essential that we calculate approximately the accurate cost and plan accordingly. We will acquire sources of funds, advertisement cost, cost of land, cost of construction, promotion cost, and other expenses which are defined clearly in the estimated budget of the whole product. Stage-5: Competition Analysis Competitive analysis is really important part for making a business plan. In this we will compare our product with our rival companies. Below we will compare Unitech project with M3M, DLF and Supertech. Basis | Unitech | M3M | Supertech | DLF | What we are offering(Product) Orchid Garden City| Luxury living residence Golf estate| Luxury living residence Oxford Square| Luxury living residence The Pinnacle| Luxury living residence | To whom we are offering(Target Audience) | For upper-middle level customers | Premium customer segment | Premium customer segment | Premium customer segment | Where we are offering our product( Place ) | Sohna Road, Gurgaon | Gurgaon | Noida extension | Gurgaon |
Stage-6 TIME BOUND POSSESSION This action plan clearly defined that the possession of the flat must be given within the time bounded by us. Time bound possession is one of the major action programs which we have to obtain by any means. The completion time of the whole project is three years and within this period the product will be ready to serve the customers. The deadline which we have decided to complete the product will be the same as it is necessary for the accomplishment of the desired goals.
Feasibility study or Developing Budget Purpose for the study: As we all know, to implement the plans one should take care of the budget for the entire project and the cost associated with it. While developing budget we should consider the following things. How much amount is required for the project, how much should we incur on advertisement and promotion of the product. What are the sources for the funds, what amount of profit we get from the project etc. Now for the „Orchid Garden City‟ we have developed the budget as follow: Cost for the project: Cost of land and construction: Rs. 15,069 lacs Cost of advertising: Rs. 1,521 lacs Other expenses: Rs. 100 lacs Total cost for the project: Rs. 16,690 lacs The details of the cost would be given below. Sources of funds: It is basically the sources from where we are getting funds for the project. In our project we are getting funds through loan from bank, investment from Unitech Limited and booking amount from costumers. The details for the same are as follows: * Loan from bank: We have selected HDFC Bank to loan our project. We will take loan of Rs. 113 crore which is approx 75% amount of the cost of land and construction. This amount is used for the purchasing of land and construction only. * Investment from Unitech Limited: This amount will be used for the some part of balance 25% amount which is required for the construction and rest will be used for promotion of the project. The approx investment which is required is Rs. 37.67 crore.
* Booking amount from costumers: We have decided that 25% of the sale amount will be taken as booking amount which will be utilised for the balance construction amount and to meet other expenses like salary for the staff, payment of loan interest etc. We assume that all our flats have been booked and the booking amount has been duly received. The expected amount which we going to get is Rs. 46.77 crore. Allocation of cost: Under this we have mentioned the details of the cost of project i.e. how much the land for each flat costs, what was the cost of construction of flats, expenses that has been occurred on advertisement and promotion and other expenses. Cost of land: This is the cost for the land of each flat and pent house. The cost for the same has been showed in the below graph. Type of flat | Numbers of flat | Area in sq ft | Cost per sq ft | Total cost(in lacs) | 4 BHK flat | 55 | 1800 sq ft | Rs. 3,500/sq ft | Rs. 3,465 lacs | 3 BHK flat | 110 | 1200 sq ft | Rs. 3,500/sq ft | Rs. 4,620 lacs | Pent house 1 | 24 | 1800 sq ft | Rs. 4,500/sq ft | Rs. 1,944 lacs | Pent house 2 | 12 | 2250 sq ft | Rs. 4,500/sq ft | Rs. 1,215 lacs | According to the above table there are 55 4BHK flats which costs Rs. 3,465 lacs and 110 3BHK flats which cost Rs. 3,500 per sq ft. Pent house 1 was situated in building 1 & 3. And the pent house 2 is located in building 2. The cost of pent houses is more than flats because pent houses are fully furnished and equipped. Cost of construction: Under this the expenses which will be incurred on the construction of flats and pent houses are given. The costs are shown in below table:
Type of flat | Numbers of flat | Area in sq ft | Construction cost/sq ft | Total amount(in lacs) | 4 BHK flat | 55 | 1800 sq ft | Rs 1,000/sq ft | Rs 990 lacs | 3 BHK flat | 110 | 1200 sq ft | Rs 1,000/sq ft | Rs 1,320 lacs | Pent house 1 | 24 | 1800 sq ft | Rs 1,500/sq ft | Rs 648 lacs | Pent house 2 | 12 | 2250 sq ft | Rs 1,500/sq ft | Rs 405 lacs | Advertisement expenses: As we all know for the success of any plan proper advertisement and promotion of product is necessary. Good advertisement attracts huge numbers of costumers which is very good for the company. Under this the details of the expenses incurred on the advertisement and promotion of the project is mentioned. There are various expenses incurred for advertising like through newspapers, FM radio, hoardings and boards, brand ambassador etc. The details are given below: Type of advertisement | Expenses incurred | Radio advertisement | Rs 10 crores | Brand ambassador | Rs 1.5 crore | News paper ads | Rs 60 lacs | Hoardings and boards | Rs 50 lacs | Advertisement balloon | Rs 10 lacs | Online promotion | Rs 1 lac | Sponsorships at events | Rs 1 crore | Brochure | Rs 50 lacs | Total | Rs 15.21 crores | The advertisement cost on radio is Rs 2000 for 10 sec. And we have decided that advertisement through radio will be done 10 times a day with each ad is of 10 sec duration for 1 year which would cost Rs 10 crore.
Advertisement in leading national newspaper would cost approx Rs 6000/cm and we decided that we put ads in newspaper of 10cm on 100 random days for the better promotion. We also planned to appoint a brand ambassador for the project. We think that the brand ambassador will be well known Indian cricketer Virat Kholi because he is from Delhi and very famous in Delhi and ncr. We also decided to give sponsorships in various events like music competitions, fashion shows, and cultural events. By doing this lot of people will be attracted towards „Orchid Garden City‟. Other costs: We also planned to construct swimming pool, a big car parking, gymnasium and fitness centre and a social club. Swimming pool would cost around Rs 20,00,000 and car parking would cost approx Rs 5,00,000. The cost for gymnasium and fitness centre would be around Rs 50,00,000 and social club would cost around Rs 25,00,000. A huge playing ground and park will with children‟s rides also be constructed which would cost approx Rs 2,00,000. We also plan to construct a well equipped hospital in future but that would on need and if required. It also includes salaries of the employees of Unitech limited. A total of Rs 1 crore is expected as the salary of staff. Revenue generation: It is very important part in the feasibility study of any project. How much amount should be quoted from the costumers to meet all the expenses of product and to earn desired profits. After analysing the whole current market conditions and after several discussions we have decided to price the „Orchid Garden City‟ as follows: Type of flat | Price per sq ft | Price of each flat | 4 BHK flat | Rs 5,800/sq ft | Rs 1,04,40,000 | 3 BHK flat | Rs 5,800/sq ft | Rs 69,60,000 | Pent house 1 | Rs 7,600/sq ft | Rs 1,36,80,000 | Pent house 2 | Rs 7,600/sq ft | Rs 1,71,00,000 | Under this price the company is able to meet its cost and all expenses incurred and in addition to this company are able to generate a profit of
more than 12% from this project. The price of pent houses includes all the equipments and furnishing while in the ordinary flats no furnishing is done. We also kept a proposal of furnished flats but that would cost more to the costumers. Each pent house also includes Terrie‟s garden. We also giving free membership of fitness centre and swimming pool to all the owners of flats of Orchid Garden City but monthly maintenance amount will be charged from all. This maintenance amount will be utilised for the maintenance of fitness centre and swimming pool and other pity expenses. Profitability study: This study shows that how much profit that company is getting from the project, what was the return that the investors are getting on their investment and what was the percentage of profit to the cost and to the revenue. Unitech limited is getting huge profits from Orchid Garden City. They are getting more profits from the expected. Company expected profits of 10% from this project. But the company is getting more than 12% profit from Orchid Garden City. The total expected cost for the project is Rs 1,66,90,00,000 and from the revenue company is generating Rs 1,87,33,20,000. Hence the profit for the company would be Rs 20,43,20,000. The investors are also getting good return on their investment. They invested Rs 37.67 crore and they are getting in return approx Rs 14.30 crore. So the return on investment that they are getting is nearly 38%. This would be a positive sign for the company and also gain more trust of investors because investors are getting good return on their investment which would ultimately lead to more investment in future projects for the company. Calculation of return on investment: Profit before tax: Rs 20,43,20000 (-) Tax [30% assumed] Rs 6,12,96,000 Net profit after tax Rs 14,30,24,000 Return on investment: net profit after tax/equity share *100
=> 143024000/376700000 * 100 => 0.3796 *100 => Approx 38% Percentage of profit to the cost and to the revenue: Profit | %age to the cost | %age to the revenue | Rs 20,43,20,000 | 12.24% | 10.91% | Calculation of profit percentage to cost and to revenue: To cost: profit/cost *100 => 204320000/1669000000 * 100 => 0.1224 * 100 => 12.24% To revenue: profit/revenue *100 => 204320000/1873320000 * 100 => 0.1091 * 100 => 10.91% IMPLEMENTATION & CONTROL: It‟s depend on the people to make or break program, the main aim is to gain the cooperation and support of the key people at different levels working within the organisation so that the implementation of the action plan can be achieved successfully. In, addition, accomplishment of our goals frequently depends on the commitment, awareness and potential of the people who implement the project. After making our action plan, the main focus is on the implementation of the desired plan and for the accomplishment we must implement the following things: * Construction of Communication Plan
Effective communication does not just happen. It needs careful planning and implementation. For the strategic communication we will initially recognise our target customers, and we will also provide them the proper information that they required, after recognising our customers we will communicate with them so that we can guide them with the proper information related to the product. For targeting the customer, we need to interact with them so that they get the awareness about the product. Communication is commonly defined as the imparting or interchange of thoughts, information among the consumers. In market communication, the means by which we attempt to inform persuade and remind our customers directly or indirectly about the product and the brand is in the following ways: Brand Awareness: refers to the awareness related to our product in the eyes of customers through different promotional strategies. Unitech is a renowned company on its own. And launching a new product with the name of Unitech creates brand awareness and makes the product easily noticeable in the eyes of the customer. Brand Image: „Orchid Garden city‟ is the project of the Unitech group of real estate. Its brand image is very well known to the people as Unitech is among the topmost real estate developers in India. * Build Incremental Changes The main implementation of the action plans is to apply the one step at a time. Successful marketing is more likely to be an incremental process instead of an instant transformation. Every positive result is greater than the one that preceded it, but not large as the one which is following. By changing the smaller changes first we can successfully implement the larger and more difficult challenges in the implementation of the marketing plan. * Monitor the implemented plan continuously Marketing is a never ending and an ongoing process and the implementation of the plan should also be done continuously so that our result can be track on a continuous basic. Past results will be check on the
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