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ACKNOWLEDGEMENT

I take this opportunity to express my sense of gratitude to all those who helped me in
completing this project. The successful task would be incomplete without the mention of the
people whose constant guidance and encouragement crown all efforts with success.
First of all I would like to convey my thanks to Dr. ROHIT SINGH (Faculty Mentor, Auro
University) for his constant suggestions which have resulted in successful completion of
project
I would like to express my sincere gratitude to Mr AAKASH PATEL (DIRECTOR) for
giving me the opportunity to work and learn with AAKASH GROUP who extended to me all
the support and cooperation I required during working in the field in various areas from time
to time.
The individual and personal efforts of everyone concerned were memorable and I am once
again sincerely thankful to the whole team of AAKASH GROUP and AURO UNIVERSITY
for their cooperation and providing me the required information and resources and helping me
throughout for the successful completion of this summer internship project.

EXECUTIVE SUMMARY
Building a brand is always one of the toughest jobs for any business unit and once the brand is
build it is necessary for the business unit to understand or rather to say find the effectiveness
of building the same brand. I was given the project by Mr AAKASH PATEL to understand the
brand building process of the brand EXPRESSIONS which is a real estate project of the
construction firm AAKASH GROUP and to look forward to potential elite class consumers
regarding the brand awareness of the brand EXPRESSIONS
To understand the brand building of the EXPRESSIONS I learned the cbbe model of the
brand that is the consumer based brand equity model so that a better knowledge regarding the
brand can be kept in mind. Further with the guided me to conduct a market survey regarding
the brand awareness of EXPRESSIONS in the premium section of the society. I conducted a
market survey taking 45 respondents who belong to the elite class of society with the help of a
questionnaire; the questionnaire was made with the help of Mr Aakash Patel and Mr Rohit
Singh. The questionnaire helped me to find out the thinking of people regarding the brand
EXPRESSIONS.
Apart from learning just about Expressions I also came to know a lot about the real estate
sector, how wide it is? And also the current scenario in real estate sector in Surat. With the
survey conducted I came to know that the consumers have mixed feelings regarding the brand
EXPRESSIONS and how they think of the brand while purchasing a residential house.
With the help of the survey conducted I was able to conclude my report and also able to give
some suggestions to Mr Aakash Patel who is the director of Aakash Group of Builders.

1. COMPANY STUDY
1.1 OVERVIEW OF REALESTATE INDUSTRY IN INDIA.
Real Estate Industry in India:
The size of the real estate industry in India is estimated by FICCI, to be around US$ 12
billion. This figure is growing at a pace of 30% for the last few years. Almost 80 % of real
estate developed in India, is residential space and the rest comprise office, shopping malls,
hotels and hospitals. This double-digit growth is mainly attributed to the off shoring business,
including high-end technology consulting, call centers and software programming houses
which in 2003-04, is estimated to have accounted for more than 10 million square feet of real
estate development. This is the ideal time to invest in the country as policy makers have
begun to emphasize on developing adequate infrastructure for the country. Real estate
companies would also do well to maximize their own performance and operational efficiency.
The future of the real estate sector in India is going to be guided by two important factors,
namely suitable amendments in the Foreign Direct Investment (FDI) guidelines in townships,
housing, built-up infrastructure and construction development projects as well as abolition of
Service Tax on the construction industry especially the housing sector. Conversely, if the
abolition per se is not possible then drastic modifications in the existing Service Tax norms is
the need of the hour. This Sector is already overburdened with taxes; any further imposition of
taxes in any form would adversely affect the growth of this sector of the economy.
The importance of the Real Estate sector, as an engine of the nations growth, can be gauged
from the fact that it is the second largest employer next only to agriculture and its size is close
to US $ 12 billion and grows at about 30% per annum. Five per cent of the countrys GDP is
contributed by the housing sector. In the next three or four or five years this contribution to
the GDP is expected to rise to 6%. The Real Estate Industry has significant linkages with
several other sectors of the economy and over 250 associated industries. One Rupee invested
in this sector results in 78 paisa being added to the GDP of the State. A unit increase in
expenditure in this sector has a multiplier effect and the capacity to generate income as high
as five times. If the economy grows at the rate of 10% the housing sector has the capacity to
grow at 14% and generate 3.2 million new jobs over a decade.

Furthermore, this sector has witnessed a spurt in demand not just in residential property but
also in commercial property. A fast growing area is the I.T. and I.T.-enabled services along
with the BPO boom. Estimates worked out show that 42 million sq. ft. of space will be
required every year till 2008, only in I.T. and I.T.-enabled services especially in the cities like
Bangalore, Chennai, Hyderabad and Pune, which is also now gradually shifting to North
India.
To achieve the much desired growth and development in the Real Estate Segment, FICCI
would like to submit the following 10 points for consideration:

Infrastructure Status to Housing:

Infrastructure status should be provided to housing sector. This will enable easier access to
low cost institutional funds as also allow the sector to tap long term funds.

Real Estate Mutual Funds:

The Government should consider setting up of Real Estate Mutual Funds/ Investment
Trusts to provide the much needed support to the cash starved housing sector, similar to
the structures adopted for Estate Mutual Funds/ Investment Trusts in developed real estate
markets such as, USA, Singapore, Hong Kong, etc. Real Estate Mutual Funds/ Investment
Trusts would be an efficient mode for providing equity financing as against debt, which is
currently the norm for financing real estate developments in India.

Stamp Duty:

In some States the Stamp Duty is as high as 14- 15 % of the value of the transaction.
Astonishingly in the Indian context, not only are the rates high, but also the levy of Stamp
Duty is applicable in every subsequent transaction, be it the initial transfer purchase of
land or on further sale of the same land after development or any other succeeding
transaction. Opportunely some states have brought the Stamp Duty down to between 6-8
%, this should ideally be further brought down to 2-3 % and made uniformly applicable
across all states. However, if the above suggestion is not acceptable then if stamp duty has
already been paid on one transaction, there should be a mechanism in the law, whereby
there is a provision for concession or a system of credit for any subsequent transactions.
This would avoid the resultant cascading effect of Stamp Duty, thereby reducing the cost

of a property. The concept of credit for taxes paid on subsequent transactions already
exists in other statutes such as CENVAT, VAT, Minimum Alternate Tax (MAT), etc.

Public Private Partnership:

There is a need to evolve a regulatory framework that encourages participation of the


private sector in bringing technical and managerial expertise in formulating and delivery
of basic amenities like water, sanitation, sewerage, transport and electricity.

Archaic Laws:

Availability of land for housing projects has been constrained by a variety of laws like the
Rent Control Act and Urban Land Ceiling and Regulation Act, which must be repealed in
all the States. A necessary legal and policy framework has to be put in place to restrict
growth of slums and at the same time to re-develop the slums into hygienic and liveable.

Foreclosure Laws:

The existing foreclosure laws are cumbersome as well as time consuming and make it
practically impossible for Housing Finance Institutions (HFIs) to repossess a dwelling unit
financed. HFIs are reluctant to take risk and continue to land primarily on salaried urban
borrowers. Amendment of (National Housing Board) NHB Act has already been initiated.
The implementation process needs to be expedited to bring in the required changes.

Environmental Impact Assessment Notification:

The notification specifies that no construction activity to be taken up, in spite of the
approval of plans by the Competent Authority, till the environmental clearance has been
sought. In cases where approval has already been granted it is suggested that construction
activities should be allowed. In the intervening period the builder / developer can obtain
the environmental clearance certificate. In the case of the environmental clearance
certificate being denied then appropriate action if necessary and warranted can be taken
against the developer / builder and builder be given time to get clearance before he applies
for completion certificate, otherwise the completion certificate will not be given
Furthermore, in the case of future proposed projects the environmental clearances should
be taken by the States themselves or by the planning bodies and not by individual
builders.

Land Acquisition:

The Land Acquisition Act of 1894, still, to a large extent, governs the procurement of raw
land. With the changing investment scenario it has become necessary to review the
existing law, in order to ensure that private developers and colonizers procure the land
directly from farmers and land owners without putting undue financial burden on State/
Central Governments on land acquisition for public purposes. Today, a builder is governed
by Agriculture Land Ceiling Act even after the lands have been urbanized in the zone
plans / master plans. This makes builders to create several companies in order to
circumvent the archaic laws. It is submitted that once the land has been urbanized and
incorporated in the master plan, then Agriculture Land Ceiling Act should not apply and
builders should be permitted to acquire lands as per their requirements, for the
development of townships.

Foreign Direct Investment (FDI):

Suitable modifications in the FDI guidelines are required, particularly in repatriation of


funds, clarification on the basic definition of built-up area, streamlining of Clearance
procedures as well as the opening up of the Retail Segment to FDI.

Service Tax:

No rationale has been provided for exclusion of services in relation to construction of


residential bungalows, which may not form part of residential complexes.

COMPANY PROFILE

Name of the firm

Address

Website
Phone Number

Year of establishment
Name of Chairman

Aakash Group Builder & Organizers, Real


Estate Developers.
Expressions at VIP Road Surat.
www.Aakashgroup.in
9925212007, 9909933455
1981
Mr Dipak K. Patel (Founder, Chairman &
Managing Director).

Type of Job

Mr Manish K. Patel (Chairman & Managing


Director)
Construction

No. of employees

70-80

Type of Firm

LTD

INTRODUCTION OF THE COMPANY


AAKASH GROUP - AN ISO 9001:2008 & 14001:2004 CERTIFIED
ORGANISATIONS. Aakash group has Quality and Excellence with over 3 decades of
expertise and experience. It has created some of the most pioneering episodes of real estate
promotion and town planning for a period of over 30 impressive years in Gujarat.
From a very modest beginning to the accomplishment of numerous projects in varied sectors,
Aakash group has left an indelible mark in the real estate industry and technology. The
different projects under the Aakash group's crown are Aakash Avenue, Aakash Era, Aakash
Enclave, Aakash Bungalows, Expressions, Aaksh Prithvi, and Aaksh Empire at Althan Bhimrad road, Surat.)
Expressions, Enjoy, Aakash Earth, Aakash Echo Point are advanced luxury lifestyle
residential projects are under construction & Business Centre, Evergreen at Vesu - Canal
Road are an absolute spectacle of immaculate architecture.
With more than 3 decades as a leading maestro in real estate promotion and town planning,
the Aakash Group ranks as the natural choice for smart decision makers like you. With
Aakash Group one can take excellent complex environment for granted.

Surats fastest growing Real Estate Company.


Tallest building in South Gujarat with the Height of 70mtr and 22 floors.
First to put a 10000 Sq. Ft. flat in Surat.
First to provide helipad on residential.
First to provide private CAR parking on each floor near your flat.
First to provide Switchless Home Operated with smartphone or iPad.
Private swimming pool with garden in your house.
Running more than 8 projects at a time.

MAJOR COMPETITORS
1) HAPPY HOME GROUP
2) RAJHANS GROUP
3) RAJ-GREEN GROUP
4) SURANA GROUP
5) RAGHUVIR GROUP
6) RAVANI BUILDERS
7) RAMESHVARAM GROUP
8) VAISHNODEVI GROUP
9) SNS GROUP
10) SANGINI GROUP

PEST
Political Factors
The political factors affecting the construction and housing industry mostly consists of
documentation and permits that has to be obtained during the various phases of
construction of a structure and its sale.
Building Commencement Certificate: Construction of a building or any such structure
cannot take place unless and until the builder or the company secures a
commencement certificate from the authority; in case of Surat it is the SMC who
gives Raja chitti and after completion

BUC (Building use certificate) is taken to

handover the property to the customers.


Floor Space Index (FSI): FSI is basically a ratio, which determines how tall buildings
can or a structure can be constructed on a particular plot. The local authority issues
it.
Occupation Certificate: After the completion of construction work of a building, the
builder or the company has to secure an Occupation Certificate without which the
flats in the building cannot be occupied for residential or commercial purposes

Economic Factors
Fluctuations in prices of inputs: Many builders tend to stop work when the prices of
inputs like cement; iron etc. goes up so as to wait for the time when they expect the
prices will come down. This result in unnecessary delay in the work and the cost of
wasting time would actually be more than the increase in price.
Changes in demand: Changes in demand due to factors like changes in disposable
income of prospective buyers and inflation. Also with the easy availability of housing
loans and tax exemption on loans the demand for houses is rising.
Future Growth & Resale Value: Any project must be located in an area that if not fully
developed must at least be on the way. This is because people prefer those areas
having high resale value and will fetch them a good amount of gain.
Stamp Duty & Registration: Payments of Stamp duty followed by the registration of
the agreement are two important acts when one enters into an agreement with a

developer/seller. With the decrease in the stamp duty by 50% it is considered as a


good sign for Construction Sector.

Social Factors
Credibility of the company/firm: People dont know what kind of materials has been
used in the construction of a building or a structure. Credibility of a builder or the
company plays an important role in convincing the buyer to buy the house and be
sure of the quality of construction work done. A low credibility or image can lead to
poor financial performance. A good image is not just built in a day; it takes years of
servicing the society through following high standards of work in the process of
construction and sale.
Perceived Image of the property developed: A flat is selected on the basis of
infrastructure facilities like water availability, transport facilities, nearness to schools,
colleges, hospitals, shopping complexes, leisure centers, etc.
Building Facilities: The builders may offer buildings that have swimming pools,
health-clubs, gyms & parks.
Technical Factors
Due to technical nature of the construction process, the technical environment keeps
on changing every day. There are developments in techniques used, materials used
and various other such aspects of the construction business. A few of such
developments are as follows.
Pre-structured Concrete Blocks: These are blocks of concrete, which are made in the
factories according to the dimensions of the building or structure to be built. It is just
like a jigsaw puzzle where these blocks are put together using a huge crane and

joined together using mortar by workers. This enables quick completion of work and
also economies of scale.
Mixture of Cement and Sand: nowadays in order to save time the constructor can
order the mixture of sand and cement directly from the suppliers as against the
traditional way of ordering cement and sand separately and then filtering them and
then mixing it.
Other Equipments: other modern machines that are used in construction are the use
of huge drilling type of machines to dig the ground, which was before done by
workers.

SWOT ANALYSIS of AAKASH GROUP COMPANY


STRENGTH:

Strong Brand Recognition.


Growing National Presence.
Superior Research and Development Department.
Strong Financial Returns.
Strong sense of culture in working environment.
Successive experience being competitive.
Effective leadership.
Customer loyalty.
Diversified business.
Product innovation compatibilities.
Technological experience.
Good corporate image.

WEAKNESS:

Complexity of operations
Lengthy Processing Chain.

OPPORTUNITIES:

Growth of Core sector industries.


Growing e-commerces business.
Increasing urbanization.

THREATS:

Take over Possibilities.


Natural calamities.

MAIN PROJECT
INTRODUCTION
"Branded" properties could become the norm as demand for high standards of design, leisure
and labelled property increases among the rich in both established and emerging markets.
Many companies are endorsing celebrities for their real estate projects e.g.: Rajhans group
have appointed Amitabh Bachchan as their brand ambassador for all the projects. Global
research conducted by the Knight Frank shows that developers can increase profits by around
a third by building "branded homes," fully-serviced designer luxury pads that separate them
from the rest of the real estate pack and appeal to an aspirational clientele.
Apart from advertising, marketers are adopting many new techniques to market their product
so that customers get to know the brand properly and think of it as a branded product. In the
same manner Aakash group also did different marketing techniques to make
EXPRESSIONS a well-known brand in Surat city as well as other nearby areas.
As the tag line of Aakash group says Home for All the project expressions is for the elite
class people of the society as it has certain features, amenities and luxuries which are
considered as a status symbol by people and to make it a brand of that level. Aakash group has
removed all the barriers in the fields of marketing in case of expressions. By studying
carefully I was able to prepare the CBBE model of expressions.

Salience Dimensions
1. Recall

Whenever there is discussion of Luxurious flat in Surat City.


Some unique features like Roof top Helipad, Sky garage, Endless
swimming pool, and World class Automation.
By seeing the logo of Expressions.

2. Recognition

Whenever person think for purchasing a luxurious residential then


Expressions will be in Purchase consideration.

Performance Dimensions
1. Primary Characteristics and supplementary features
Helipad for convenience
Sky Garage for security
Swimming pool for relaxation
Garden for Leisure
Personal Banquet social need
Club house Over all entertainment
Spa for relaxation
Game Zone for entertainment
2. Unique style, design and Status living.

Imagery Dimensions

1. By looking at the brand, product and it features, an individual think having luxury
which make one self-feel special.
2. This will boost the feeling of excitement within an individual for the experience of
the product related to brand.
3. The luxury motivates an individual to pay high for a lavish life style.

Judgment Dimensions
1. Brand Quality

Consumer will get value for money.


Get satisfaction for what they have paid for.

2. Brand Credibility

As its a project of well-known group there is Expertise and trustworthiness.


If a person have budget for spending more amount then it will be liked by
consumer as it has certain value added features and amenities.

3. Brand Consideration

Expressions is liked by everyone because of its gigantic size and amenities and
if a consumer from target market will think of buying house for self, then there
will be brand consideration of Expressions as it is one of the best project for
the people wanting status, facilities and luxury for them.

4. Brand superiority

Expressions is totally different from other residential project. It is one of its


kind in itself as the amenities and facilities provided in the project is not given
by any other project or construction group right now in the real estate scene of
Surat.

Feelings Dimensions
1. Expressions Brand is full of fun and excitement because consumer will feel good
by purchasing this product. By thinking of having such a good and luxury brand
consumer will get excited.
2. Expressions is a sub brand of Aakash Group, Aakash Group is well known
established brand in real estate industry so consumer will have security that they
will get proper and durable product. And they have trust that they will get value for
money.

3. Consumer is spending huge money on Brand Expressions because he is getting


sufficient in return of that, so there is value of money which is accepted by society,
i.e. you are getting benefit and values in return of the cost you are paying.
4. Status of individual will increase by being associated with brand Expressions.

Resonance Dimensions
1. When person think for buying a luxurious flat.
2. As Expression is not a Brand for repeat purchase but one can be loyal with Aakash
Group by giving suggestion to other to invest in and also stay connected by
investing their own money.
3. Expression is luxury symbol so by having it customer will feel proud for brand.

4. If person like Expression brand then he will seek for new information by visiting
website or maintaining personal relation.

Standing tall and commanding a height rivaled by none in the city, Aakash group
brings a sublime expression of class and luxury. The 19 storey residential tower
features two blocks and offers the ultimate living experience for rich and famous.
Each block features very spacious, naturally ventilated and exceptionally welldesigned 5 bedroom apartments on floor, which offer breathtaking views of the
city space, who have a penchant for the finest the life has to offer. The sky park on
the terrace is heaven on earth. A fitness center and an envious list of lifestyle
amenitiesin the clouds.
Yes, sky is the limit here. Literally.
CRISIL has, over the past two decades, rated the debt and bank facilities of, and
provided developer grading to, several key players in the realty sector, which have
greatly benefitted from CRISILs strong credibility and excellent rating process.
CRISILs latest offering to the realty sector, Real Estate Star Ratings, provides
comprehensive , independent assessment of real estate projects in the city: the
assessment addresses two critical needs in the realty sector: improved transparency
and objective benchmarking of projects. The biggest challenge facing Indias real
estate sector is its adverse image. Delinking individual projects from general
perceptions through a Star Rating is a step away from this image. Though aimed at
providing homebuyers with an independent view, the rating also provides
developers with an opportunity to differentiate their projects. CRISILs rating
system will not only help developers showcase their project in the short-term, but
in building an impeccable reputation of delivering certificated buildings over the
long term.

1ST TALLEST ICONIC TOWER OF SOUTH GUJARAT


EXPERIENCE
EXPRESSIONS
7 STAR AMENITIES NOW 1st TIME IN GUJARAT
1ST TALLEST TOWER (80 Mtr. Height)
Provisional Roof-Top HELIPAD
Personal SMART POOL
SKY GARAGE with SMOKE DIFFUSER
Personal SMART POOL
Sensored AUTOMATED VEHICAL ENTRY
All are supplements of personal freedom
SMART I-CONNECT
CAR WASH CLINIC
ENERGY GENERATION
AUTOMATIC BUILDING MANAGEMENT System
12 HEIGHT Floor to Floor (Approx.)
UNINTERRUPTED POWER SUPPLY (Express Feeder)
SKY WALK Terrace
1ST 5 STAR CRISIL RATED PROJECT OF SOUTH GUJARAT

Surat is one of the fastest growing city, where people come from pan
India for fulfilling basic needs i.e. food, clothing and shelter. Since last
20 years, Surats construction industry is continuously innovating and
upgrading and achieving new milestones every year. From last 8 years,
Surat has been ranked no. 3 in the construction industry in Asia. In the
city which is known as textile and diamond city, Mr. Dipak Patel and
Mr. Manish Patel, Founder of Aakash group, a group who is in the
industry from last 20 years and last 10 years, they have given the city a
new face and new direction which is called Aakash group. Mr. Dipak
Patel and Mr. Manish Patel came to me in 2012 with a unique concept
and said we want to build something that till now, no one has made
and people feel good after purchasing it. Knowingly or unknowingly
the uttered the word EXPRESSIONS. This is the story of a dream
project named EXPRESSIONS. EXPRESSIONS comes in our life
when we experience something new. something unique, something
different and from such experiences, we get two different things, one is
We feel good or get excited by getting such experiences and the
second is We feel good about it that we end up saying WOW, now
that is what we call EXPRESSIONS.

LITERATURE REVIEW
A city's brand is increasingly considered an important asset for urban development and an
effective tool for cities to distinguish themselves and improve their positioning. The
introduction of corporate-level marketing concepts and, especially, corporate branding has
significantly contributed towards the development of a city branding theory. In practice,
however, there is an evident confusion of a wide branding strategy with one of its
components, namely the design of a new logo and slogan or, at best, the development of a
promotional campaign. The need to adapt any branding tools to the needs of cities and
addresses the necessity of a comprehensive city brand management framework. (Ashworth &
Kavaratzis, 2009)
All property firms, designers, real estate agents and stakeholders who/that are involved in
property development are to ensure that their products are designed with brand consciousness
in mind. Property purchasers are brand conscious in relation to the property developers and
they ranked developers based on the brand personality. Property purchasers look at trend,
professionalism and investment as the top 3 priorities in the property brand. (Fah & Cheok,
2012)
Brand building is a relational marketbased asset because it arises from the relationships that
consumers have with brands. Given the fact that trust is viewed as the cornerstone, as well as
one of the most desirable qualities in any relationship, the importance of brand trust is in the
development of brand equity. (DelgadoBallester & Alemn , 2005)
In an increasingly competitive marketplace, greater emphasis is being placed on brand image
development as the basis for consumer discrimination. Advertising has a central role to play in
developing brand image, whether at the corporate, retail or product level. It informs
consumers of the functional capabilities of the brand while simultaneously imbuing the brand
with symbolic values and meanings relevant to the consumer. These two functions of
advertising closely parallel the informational and transformational schools of advertising
effects and theories on the central and peripheral routes to consumer persuasion. Such
dichotomous approaches to explanation are unlikely to represent the reality of consumer
choice in that brand image is likely to be formed by the simultaneous absorption of
advertising messages based on both the functional and expressive capabilities of brands.
(Meenaghan, 2006)

The nature, role, and function of core values are considered a central part of the value
foundation of a corporate brand. Core values are an important part for any organization in the
process of brand building. Core values also leads to a vital relationship between the brand and
the consumer. Core values are important for building a corporate brand as well as building a
brand in any other sector. (Urde, 2003)
Brandbuilding effort has to be aligned with organizational processes that help deliver the
promises to customers through all company departments, intermediaries, suppliers, as all
these play an important role in the experience customers have with the brand. In building an
effective brand all the segments as well as all the levels have to work effectively to achieve
the goal of effective brand building. (Ghodeswar, 2008)
Building a strong brand has been shown to provide numerous financial rewards to firms, and
has become a top priority for many organizations. According to CBBE model building a
strong brand involves four steps (1) Establishing the proper brand identity, that is, establishing
breadth and depth of brand awareness (2) Creating the appropriate brand meaning through
strong, favourable, and unique brand associations, (3)Eliciting positive, accessible brand
response, and (4) Forging brand relationship with customers that are characterized by intense,
active loyalty. (keller, 2013)

Marketers have shown increasing interest in the use of corporate societal marketing (CSM)
programs. There are six means by which CSM programs can build brand equity: (1) building
brand awareness, (2) enhancing brand image, (3) establishing brand credibility, (4) evoking
brand feelings, (5) creating a sense of brand community, and (6) eliciting brand engagement.
This point leads to how effective CSM can lead in building a strong brand and helps in
gaining financial benefits. (Hoeffler & Keller, 2002)
To build luxury brand in todays competitive business world is so much difficult that
marketers are breaking the rule of traditional marketing and have started using new and
innovative techniques to market a brand and convert it into a luxury brand e.g.: Chroma
advertising. This leads the firm to gain more and more financial benefits and the relationship
between a brand and consumers can be created. (Dietz, 2014)
The brand equity perspective is one potential ground, which can be utilized for building a
strong brand. It highlights the theoretical gaps, which need to be addressed to apply the brand
equity concept as a guiding perspective on brand building. Brand equity is also considered as
one of the most important factor to achieve economic goals of the organization which can
only be achieved by building a brand. (Biedenbach, 2011)
The brand embodied a set of values and attributes which were appropriate, which stimulated
consumer interest, which distinguished brand from others and created a unique piece of
property for its owners. Brands are the means that consumers use to distinguish products and
services based on essential and non-essential attributes and they are a source of businesss
differential advantage. Furthermore, brands communicate tangible and intangible advantages
and are attractive to a range of feeling. In order to make decisions for brand strategy, branding
plays an important role. A brand is needed because it identifies the product, and the
responsibility of the product hence lies in the hands of the makers or producers of the product.
Brands are important in both consumer and business-to business situations, where a decision
of purchase is needed. A strong brand can create sufficient higher total returns to shareholders
than a weak brand. Brands are at the heart of marketing and business strategy and building

brand equity or strong brands, is considered to be one of the key drivers of a business success.
(Hasan & Khan, 2010)
In the bid to build a worldclass brand, it's tempting for managers to invest everywhere that
the brand touches customers. The do everything approach rarely works well, however,
because resources are spread too thinly to be costeffective. Leading brandbuilders such as
Citibank and Coach take a more selective, deliberate approach, adhering to several
management principles, they focus on the most important customers to their business
enterprise; they concentrate investments on the customer touch points that will do most to
increase brand equity and raise profitable demand; they set realistic goals for implementation
and focus on changes that are easier to implement; they revisit their performance on a regular
basis and make their brand program selfsustaining and adaptive. (Hogan, Almquist, & Glynn,
2005)
Retailers can find a rationale for investing in their store brand range in order to differentiate
themselves from their competitors. Managers should ensure that their store brands' image is
seen as congruent with their own retailer brand image. In particular, more attention should be
paid to the values reflected by the store brands and the store brands' price image. (Kremer &
Viot, 2012)
There is a limited effect of corporate branding on customer emotional attachment and brand
loyalty. The impact of corporate branding on brand loyalty was only evident through
functional benefits and corporate associations. The examination of the differential effects of
corporate branding dimensions on emotional attachment and loyalty has contributed to a
better understanding of the mechanism that underlies the operation of an effective corporate
branding strategy. (So, Yap, & Parsons, 2013)
The attitude toward brand alliance represents a strategic marketing opportunity to help an
unknown online brand to leverage a favourable first impression from consumers in terms of
brand trust and attitude toward the brand's web site. Online brand trust does not exert a fully
mediated role between the brand alliance's evaluation and subsequent consumers' reactions to
the online brand. Partnering with wellknown and reputed brands improves the equity of the
new online brand which, in turn, enhance consumers' disposition to engage in online
transactions with the online brand. (DelgadoBallester & Espallardo , Building online brands
through brand alliances in internet, 2008)

The brand extension as a strategy is dependent on the similarity of positioning strategies


between existing and new brands. Different strategies which are adopted by the marketers in
building a good brand is the only thing that makes a new brand different from that of an old
brand, Apart from that the difference in old and new brands can be identified by the ways it is
branded by the marketers. (Doyle, 2009)
Brands should be managed as valuable, longterm corporate assets. It is proposed that for a
true brand asset mind-set to be achieved, the relationship between brand loyalty and brand
value needs to be recognised within the management accounting system. It is also suggested
that strategic brand management is achieved by having a multidisciplinary focus, which is
facilitated by a common vocabulary. There is a relationship between the constructs and
concepts of branding, and to provide a framework and vocabulary that aids effective
communication between the functions of accounting and marketing. (Wood, 2000)

Brand credibility, commitment and connection are essential in developing branding strategies
for healthy brands. A credible brand minimizes risk and increases consumer confidence.
When consumers believe that a brand is credible and repeatedly purchase it, a commitment to
the brand can develop. Finally, the brand can imbue such meaning that the consumer uses the
brand to help construct and cultivate a desired selfimage or selfconcept. (Kemp, 2011)
The marketers principal objective is typically to build a relationship with buyers, rather than
merely to make a single sale. Ideally, the essence of that relationship consists of a strong bond
between the buyer and the brand. Six strategies for building that relationship;(1) linking the
brand to a particular need; (2) associating it with a pleasant mood;(3) appealing to
subconscious motives; (4) conditioning buyers to prefer the brand through reward; (5)
penetrating perceptual and cognitive barriers to create preference; and (6) providing attractive
models for buyers to emulate. The choice of an individual strategy or combination depends
mainly on the nature of the branded product or service. The success of the strategy depends
heavily on the marketers understanding of the preference building and bonding process.
(Alreck & Settle, 1999)
Current purchases are affected by brand image mostly directly and by brand awareness mostly
indirectly. In contrast, future purchases are not affected by either dimension of brand
knowledge directly; rather, brand knowledge affects future purchases via a brand relationship
path that includes brand satisfaction, brand trust, and attachment to the brand. Thus, brand
knowledge alone is not sufficient for building strong brands in the long term; brand
relationship factors must be considered as well. (FranzRudolf Esch, 2006)
Specific internet tools and their application are discussed within opportunities to create brand
equity for products classified by experience, credence and search characteristics. An
understanding of target customers will be critical in underpinning the selection and
deployment of relevant ibranding tools. Tools facilitating interactivity machine and
personal are particularly significant. (Geoff Simmons, 2010)
Endorser credibility has an indirect impact on brand equity when this relationship is mediated
by brand credibility. This mediating relationship is moderated by type of branding. However,
the endorser credibilitybrand credibility and endorser credibilitybrand equity a
relationship does not vary according to the type of branding employed. Celebrity endorser
should be one who is perceived as credible based on their attractiveness, expertise and
trustworthiness (Spry, Pappu, & Cornwell, 2011)

OBJECTIVES OF THE STUDY

Main objectives of the project


1. To study the brand building model of EXPRESSIONS
2. And to see the effectiveness of the brand EXPRESSIONS in the mind of
potential wealthy consumers.

Secondary objectives
1.
2.
3.
4.

To understand requisites of building a brand in real estate sector.


To see whether a brand evokes positive feeling in the mind-set of customers or not.
How to select attributes of a brand in real estate.
To identify how to create a recall & recognition value in the brand.

RESEARCH METHODOLOGY
Research design:Research design is the plan for collecting the information related to the study.
Research design explains the methods that are used for collecting the
information. The research design will focus attention on the different methods
that are used for collection of the data. Also it will help to solve the problem.
Different forms of collecting the data will be tasted in the research design.
Survey method is used to collect the necessary data. In the survey method, the
personal interview is used to collect the information from the respondents
through structured questionnaire. The respondents are visited personally, and the
detail information is collected related to the study.
Choice of the research design:A research design specifies the methods and procedure for conducting a
particular study. Broadly the research can be grouped in to three categories.
Exploratory research
Descriptive research
Casual research
In my study, I have used descriptive research method to collect necessary
information related to the study.

DATA COLLECTION METHODS


(1) Primary Data:-

Primary data are those, which are collected for the first time and they are original
in character. A set of questions regarding study was drawn up. The total numbers
of questions were sixteen. The followings are the questions.

Below question is known as Dichotomous question. When a


question has two possible responses, we consider it dichotomous.
Surveys often use dichotomous questions that ask for a Yes/No,
True/False or Agree/Disagree response.
1. Does brand EXPRESSION evokes positive feeling in your mind?
Yes
No
2. Do you prefer to buy houses or apartments which are more advertised or branded?
Yes
No
3. The higher the property cost, the better the quality of life and status.
Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
4. Do you think a well-known property developers brand (like expressions) is best for
you?
Yes
No
5. Do you look for any kind of rating while buying a house (e.g. crisil rating)?
Yes
No
6. If apartments at EXPRESSIONS are provided on rental basis by Aakash group will
you be willing to take it on rental basis?
Yes
No

Below six questions are known as Multiple choice questions with a single answer.
The respondent has to choose one answer between more than 2 options.
7. Current type of your house
Apartment
Bungalow

Row-house

8. Status of current house


Purchased
Rented
9. What are the qualities you look for while buying a house?
Location
Amenities(e.g.: swimming pool, club house)
Construction group
Pricing
10. According to you what is the recognition power of brand EXPRESSIONS
Amenities(Helipad, sky deck)
Logo
11. Rank the following parameters on your purchase preference(1-Highest & 5-Lowest)
Location ____
Amenities ____
Construction group ____
Pricing ____
12. While buying a house at EXPRESSIONS what will be your demand to the builder?
Discount
Payment Facilities

2. The secondary data which was already prepared so these data was only used to reach the
aims and objectives of this project. These data has been collected from various internet sites
and portals.

DATA COLLECTION TECHNIQUES


Sampling Size:
A random sample of 45 elite class respondents of Surat city was selected.
Sampling Method:
Convenience Sampling: Convenience Sampling has been selected because this
study requires independent unbiased respondents where they were selected
according to their economic status.

Questionnaire:
A structured interview using a questionnaire was adopted as the survey tool.

Printed and Digital Sources:


The secondary data I collected was through the study of the published research articles and
research papers by renowned authors and online websites which helped me in fulfilling the
needs of my report.
Analyses of Data:
The data so generated was subjected to rigorous statistical treatment and the
inferences were drawn accordingly. The basic analytical tools like bar charts and
pie charts are used.

ANALYSIS
Q.1 Age
AGE (YEARS)
20-30
31-40
41-50
51-60

NO. OF RESPONDENTS
13
16
12
04

NO. OF RESPONDENTS
4; 9%
13; 29%
12; 27%

20-30
31-40
41-50
51-60

16; 36%

From the chart we can know about the age factor of the respondents, majority of the
respondents belongs to the age group of 31-40 years of age i.e. 35% of the total number of
respondents. This leads us to the conclusion that most of our respondents are in their young
age and are considering to buy their own house. The age group of 51-60 years consist of the
smallest piece of the pie I.e. only 9%.

Q.2 Marital status

STATUS
Married
Unmarried
Others

NO. OF RESPONDENTS
39
06
0

NO. OF RESPONDENTS
6; 13%
Married
Unmarried
Others

39; 87%

Out of total 45 respondents 87% i.e. 39 respondents are married and only 6 respondents are
unmarried. This leads us to believe that people search for new homes after they are married.

Q.3 Number of children in the family.

NO. OF CHILDREN
1-2
3-4
5 and above
None

NO. OF RESPONDENTS
24
13
00
08

NO. OF RESPONDENTS
8; 18%

1 to 2
3 to 4

24; 53%
13; 29%

5 and above
None

From the survey data we can understand that more than half of the respondents have 1 or
more than 1 children in the family, none of the respondents have 5 or more than 5 children in
their family.8 of the respondents do not have any children. This shows us that respondents
having family are mostly searching for new house or rather to say are interested in purchasing
a new house.

Q. 4 Current type of the house.

TYPE OF HOUSE
Apartment
Bungalow
Row-house

NO. OF RESPONDENTS
24
18
03

NO. OF RESPONDENTS
25

24
18

20
15
NO. OF RESPONDENTS

10
3

5
0

Apartment

Bungalow

Row-house

TYPE OF HOUSE

Out of total 45 respondents 24 of the respondents are currently living in an apartment, 18 of


the respondents are living in a bungalow and only 3 respondents are living in a row-house.
Thus we can say that respondents living in apartments and bungalow are interested more in
buying an apartment, and also wealthy people like to live in a bungalow or in an apartment.

Q. 5 Status of current house.

STATUS OF HOUSE
Purchased
Rented

NO. OF RESPONDENTS
32
13

NO. OF RESPONDENTS
8; 18%
Purchased
Rented

37; 82%

All the respondents mostly are having their own house, except 8 of the respondents have a
rented house. Which leads us to the result that even though the respondents are having their
own house, they are willing to buy a new house for the purpose of house change of for the
purpose of investment and the respondents living in a rented house wants to purchase their
own house.

Q. 6 Does brand EXPRESSION evokes positive feeling in your mind?

ANSWER
Yes
No

NO. OF RESPONDENTS
26
19

NO. OF RESPONDENTS
30

26

25
19

20
NO. OF RESPONDENTS

15
10
5
0

Yes

No
ANSWERE

All the respondents are aware about the brand EXPRESSIONS but it is very important to
know that whether the brand evokes a positive feeling in the mindset of the consumers or not,
it is very essential to know about the feeling of the brand as it helps in knowing the value of
the brand. The brand EXPRESSIONS evokes positive feelings in the mindset of 26
respondents out of 45 because it is the tallest building of the city and also it has certain value
added amenities, Respondents having no positive feeling for EXPRESSIONS is because of
the low bookings and slow working of the project.

Q. 7 What are the things you look for while buying a house?

QUALITIES
Location
Amenities
Construction group
Pricing

NO. OF RESPONDENTS
12
08
06
19

NO. OF RESPONDENTS

NO. OF RESPONDENTS

20
18
16
14
12
10
8
6
4
2
0

19
12
8

QUALITIES

Price is considered as one of the main factors while buying a house because price of a product
is one of the main factor that customers consider the most before buying any product, and it
can be seen in the survey that maximum number of respondents consider price before
purchasing a residential house. Location is another best thing that consumers look for while
purchasing a house because location of the house affects day to day activities of the customer
as well as his family, apart from that location of the house helps to determine the resale value
of the house. Construction group is the least factor that the consumers take into consideration
in the buying process because respondents look for amenities provided by the construction
group and not the construction group name.

Q.8 According to you what is the recognition power of brand EXPRESSIONS

ASPECTS
Amenities
Logo

NO. OF RESPONDENTS
38
07

NO. OF RESPONDENTS
7; 16%
Amenities
Logo

38; 84%

The amenities provided by expressions are considered to be a benchmark in the real estate
lobby of Surat, which is why most of the respondents identify the brand EXPRESSIONS
with the help of its amenities. Respondents consider the logo of AAKASH GROUP as the
logo of EXPRESSIONS and identify it with the help of it. Respondents came to recognize the
logo with the help of hoardings and advertisements done by Aakash group.

Q. 9 Rank the following parameters on your purchase preference (1-Highest & 5-

Lowest)

PARAMETERS
Location
Amenities
Construction
group
Pricing

1
11
21
6

RAITINGS
2
3
5
19
11
8
1
5

4
7
3
15

5
3
2
18

39

Chart Title
39
Axis Title

21
11

19
6

11
5

21

18

15
3

Axis Title
Location

Amenities

Construction group

Pricing

0
3
4

0
3 2
5

Q.10 while buying a house at EXPRESSIONS what will be your demand to the

builder?

DEMANDS

NO. OF RESPONDENTS

Discount
Payment
Facilities

22
23

NO. OF RESPONDENTS

Discount

23; 51%

22; 49%

Payment Facilities

While purchasing houses, customers frequently ask for different types perks and benefits and
facilities from the builders out of which two main factors are discount and payment facilities.
Respondents ask for discount to decrease their overall cost of purchase and 51% respondents
ask for easy payment facilities so that they can easily pay the full amount of purchase easily.

Q. 11 Do you prefer to buy houses or apartments which are more advertised or

branded?

RESPONSE
Yes
No

NO. OF RESPONDENTS
37
08

NO. OF RESPONDENTS
40

37

35
30
25
Axis Title

20
15

10
5
0

Yes

No
Axis Title

The residential houses which are more frequently advertised, consumers prefer
to buy that house because due to advertisements the consumers feel that they are
buying a branded house. 37 respondents out of 45 like to buy house which is
more advertised it also gives them the sense of popularity.8 of the respondents
buy house regardless the number of advertisements done as they favour to buy a
house which is more suitable to them.

Q. 12 Do you think the higher the property cost, the better the quality of life and
status?

PARAMETERS

NO. OF RESPONDENTS

Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree

18
20
06
01
00

NO. OF RESPONDENTS

Axis Title

20
18
16
14
12
10
8
6
4
2
0

18

20

6
1
0

Axis Title

Higher the properties price higher the status 18 respondents strongly agree
with the statement 20 respondents agree with it and only 1 respondent disagree
with it. According to the respondents it adds to their status and increased value
in the society. People buy residential houses in posh areas because the price of
the properties in that area is more as compared to that of other areas, this leads
to increase the status and value of the owner in the society.

Q. 13 Do you think a well-known property developers brand (like expressions)


is best for you?

RESPONSE
Yes
No

NO. OF RESPONDENTS
27
18

NO. OF RESPONDENTS

18; 40%

Yes
No

27; 60%

Respondents feel that residential houses like EXPRESSIONS are suitable for
them because it creates credibility of them in the market as they are a brand of a
famous construction group (Aakash group, Raj Green group, Happy Homes).
Rest of the 40% respondents thinks they will be willing to buy any other house
if they get better pricing policy or more facilities.

Q. 14 Do you look for any kind of rating while buying a house (e.g. crisil
rating)?

RESPONSE
Yes
No

NO. OF RESPONDENTS
09
36

NO. OF RESPONDENTS
36

Axis Title

9
Yes

No
Axis Title

Respondents purchase house without considering any of the ratings by any


different organizations, the respondents are least concerned about any of the
ratings. Out of 45 respondents only 9 of the respondents consider any ratings
while buying a house and 36 respondents do not consider different types of
ratings because they only take factors like price and amenities into consideration
before buying a house.

Q. 15 If apartments at EXPRESSIONS are provided on rental basis by


Aakash group will you be willing to take it on rental basis?

RESPONSE
Yes
No

NO. OF RESPONDENTS
33
12

NO. OF RESPONDENTS

12; 27%

Yes
No

33; 73%

The price of an apartment in EXPRESSIONS is very high as it has many


different amenities so even wealthy people think twice before buying an
apartment at EXPRESSIONS, so 73% of the respondents are willing to rent an
apartment at EXPRESSIONS if Aakash Group initiates it. 27% respondents
believe that they will only buy the apartment and not rent it because they feel
that paying one time is better than paying huge amount on rent every month.

CONCLUSION AND RECOMMENDATIONS


There is a decline stage right now in real estate sector due to inflation and other
factors so it becomes difficult job for real estate developers to sustain in the
market and earn profits.

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