Subject: Submission of an internship report on “An evaluation of Bproperty.com's marketing activities”. I am very happy to agree to my internship report entitled "An Evaluation of Bproperty.com's Marketing Activities", which was a requirement for my completion of the MBA program. In the last five months of my career, I have fully experienced my services and managed the basic property acquisition activities of BProperty.com Ltd.
This is to confirm that Ahsan Al-Rifat, ID MBA program, has prepared and submitted an internship report entitled Evaluation of Marketing Activities of Bproperty.com as part of the MBA degree at the Department of Business Administration, Faculty of Business and Entrepreneurship, Daffodil International University. I hereby publish the findings of my own work, carried out with the consent of the above-mentioned organization, in this report entitled "Evaluation of Bproperty.com Marketing Activities" presents the results of my work. In addition, I would like to thank my colleagues at BProperty.com Ltd, especially Mr.
This report is focused on the work experience I received from September 1, 2020 to date as a Business Development Executive at BProperty.com Ltd. I have presented my experience at BProperty.com Ltd in this report, in particular property purchase, management ideas, customer service work, etc. BProperty.com Ltd has continuously sponsored buying, selling and renting property solution services across the country since its establishment in 2016 in Bangladesh.
Organizational workers have to do a lot to encourage potential customers, especially developers, to sell their properties through BProperty.com Ltd.
Background of the Study
Scopes of the Study
Objectives of the Study
Methodology
Limitations
As a graduate, my expertise in collecting, sorting, estimating, translating and presenting qualitative data was not realistic and I had enormous difficulty gathering well-organized information. It provides the easiest platform for anyone in the country to buy, rent or sell real estate. Real estate is owned by the Emerging Markets Property Group (EMPG), which also controls Bayut, the UAE's asset portal (www.bayut.com) and Zameen (www.zameen.com) in Pakistan; Mubawab, Morocco's (www.mubawab.ma) portal number one and Bayut's newly acquired Saudi domain (www.bayut.sa) and Jordan's newly acquired domain (www.bayut.jo).
The founders of Bproperty.com are one of the leading names in the largest and most profitable real estate portal in France, leading highly successful companies worldwide such as SeLoger.com.
Company Profile
Historical Background
Location Office Address
Project Description Name: Bproperty.com Ltd
To make searching, buying, selling and renting the property most pleasant for customers.
THEORETICAL ASPECTS
- Marketing
- Traditional Marketing
- Digital Marketing
- Objectives of Bproperty.com The mission of Bproperty.com is
The word market is used in marketing for a category of buyers or organizations dealing with a product or service, who have the means to purchase the product and are authorized to purchase the product or service in accordance with laws and other regulations. Philip Kotler defines marketing as “the science and art of researching, creating and delivering value to meet the needs of a target market at a profit. It defines, measures and quantifies the size of the identified market and the profit potential.
Traditional marketing is a strategy where marketers define an audience and publish advertisements that the audience can see, listen to and interact with offline, such as newspaper posters, banners or TV ads. Digital marketing is a form of direct marketing that connects consumers with sellers electronically using interactive technologies such as email, websites, online forums and newsgroups, interactive television, mobile communications, etc. (Kotler and Armstrong, 2009). Modern marketing requires promotional materials that were used by companies in the early days to sell their products.
In one of four categories: publishers, TV, direct mail, and telephone, several standard marketing technologies are available. It caters to the needs of those who are hungry for real estate, with the promise of finding, renting and buying more suitable properties than ever before. The vision of Bproperty.com is to become the one and only solution provider in Bangladesh for searching, buying, selling and renting properties.
MARKETING AND BUSINESS DEVELOPMENT ACTIVITIES OF
- Generating Leads
- Communicating with Leads
- Collecting Preliminary Information
- Confirmation of Information
- Setting Meeting with Developers
- Exclusivity Duration
- Working Timeframe
- Exclusive Marketing and Branding
- Site Branding
- Customer Service
- Sales Team
- Legal Support
- Financial Support
- Actions after First Meeting
- Drafting Proposal
- Collecting Legal Documents
- Signing MOU
- Post MOU Activities
In addition, references from important persons such as REHAB members or close persons of any developer company refer their inclined companies so that they can generate quick sales of the projects. Most importantly, Bproperty itself leads the project search activities by members of the Business Development Team to find developer projects so that they can provide exclusive marketing and sales service. After receiving the leads, Bproperty should make the quick and first call to communicate with the developer companies.
After the official launch, Bproperty requests certain real-time information related to the project to predict the effects of working with the developer on their particular project. After receiving the preliminary information, Bproperty again conducts the project visit and survey of the project to confirm about the information provided by the developer and to check the feasibility. The survey team basically judges the location, project status, construction speed, prices of surrounding projects and takes pictures of the project from different angles to synchronize the data.
After a careful review of information related to the project, the business development team convenes a meeting with the developer's governing body, where a team member presents the entire process and norms of exclusive marketing and sales. The duration of exclusivity depends on the status of the project, the number of stocks and the date of handover. With Exclusivity, only Bproperty has the right to market and sell the project on behalf of the developer.
If Bproperty detects any related activity on a site, Bproperty will officially inform the developer company and the company will take immediate action to stop the activity. Bproperty offers to provide legal support to the buyers of the exclusive properties to verify the legal documents of the properties they are going to purchase and also to the sellers to keep them up to date with their legal documents to avoid the obstacles to to cancel the sale of the properties. The project checklist sheet contains A to Z information about the project with the price of the inventories.
After creating the project checklist, a draft proposal is prepared showing the financial terms, customer responsibilities and exclusivity details. After collecting and verifying the legal documents, an MOU is signed between the developer company and Bproperty with a signing ceremony at Bproperty headquarters or at any Bproperty marketplace. The Business Development Department provides the primary sales team with a primary project checklist for selling inventory of the assigned project(s).
MARKETING MIX OF BPROPERTY
- Product
- Place
- Price
- Promotion
- Physical Evidence
- People
- Process
The 'Marketing Mix' idea was developed in the 1960s, when the marketing mix concept of James Culliton was elaborated by Neil H. The marketing mix we know today as "The 4 Ps of Marketing": Product, Place, Price. , & Promotion, was hosted by McCarthy. The 4Ps paved the way for Booms and Bitner, two of the most modern academics, who in 1981 gave us the expanded marketing mix: the 7Ps.
The 7Ps consist of McCarthy's original four components which include three additional factors: physical evidence, people and processes. We would then perform a lifecycle analysis of the product we build as a marketer during the product creation process. The leading channel of all types of property buying, selling and renting is the Bproperty website.
Basically, the price of a product or service is the money that the consumer consumes. Property prices on the Bproperty website are for buyers of any property, and the transaction is between the buyer and the seller of the property (individual, developer, etc.), from whom Bproperty charges different service charges based on project location, type. Real estate ads appear in newspapers, You Tube, Facebook Live Videos and Contents, LinkedIn content and other offline and online media.
The Bproperty sales team conducts personal sales activities by communicating with potential buyers over the phone and viewing properties as agreed by the organization. During certain periods of the year, Bproperty carries out sales promotion activities by lowering product prices to increase sales. Bproperty communicates regularly with developers and treats them as premium customers to acquire their projects and thus provide a direct e-marketing service.
When it comes to marketing, the company's employees are important because they represent. Firstly, the head of the department is Mr. Khondoker Rejbeen Ahsan, who is also the general manager. All team members do their best to serve the developers and complete their projects through impressive and successful meetings and presentations.
PROBLEMS, RECOMMENDATIONS AND CONCLUSION
Recommendations
More promotional activities should be launched regarding the unique benefits of the legal purchase related service offered by Bproperty. More promotional activities should be launched regarding the unique benefits of the rental service offered by Bproperty. More promotional activities should be initiated regarding the unique benefits of the land project related service offered by Bproperty.
More promotional activities should be launched regarding the unique benefits of financial support related to the purchase offered by Bproperty.
Conclusion
BIBLIOGRAPHY
