A Study of the Marketing Strategy of Real Estate Sector of India A Case Study of Lucknow City

Abstract

Real estate industry is facing several challenges. Food, cloth and shelter newlineare the basic needs. Even been one of the basic needs this sector is facing newlinechallenges. The reason of the same is the cyclic effect of income of newlineindividual. Due to different issues in economy the individual income has newlinebeen suppressed. The suppressed income is gradually decreasing the newlinedemand of goods. People prefer to keep the money intact. This cyclic newlineissue decreases the overall economic activities. This further increases the newlinelack of investable money. newlineLehman Brothers crisis in 2008 has resulted an economic slowdown. newlineIndian economy was never able to overcome exactly. Due to recent newlinedevelopment of pandemic things have changed a lot. Market has dropped newlinedown; prices are all time low in real estate. Affordable urbanization has newlinedeveloped a small boost in real estate sector. Marketers can use the newlinefindings of the present study for the development of their own marketing newlinetactics. The research also shows that fascinating activities of newlineadvertisement and marketing becomes less applicable when it comes to newlinemarket the real estate. The present study also emphasizes on the quality newlineof product. It is still true in modern context that the quality of product is newlinethe key to success. A valid, approved and quality real estate property is newlinealways easy to market. Value proposition of any property attracts the newlinecustomer. newlinePresent research evaluates the marketing practices used by real estate newlinecompanies in India. Lucknow is considered as a representative of a metro newlinecity. The research has considered 4P s frame work for the study. To know newlineabout the vital marketing and promotional activities in real estate sector newlinethe researcher has conducted survey in three steps. newline8 newlineIn first step a survey among 90 respondents. These were people either newlinewilling or already purchased any residential property in the area. With the newlinehelp of this survey researcher has developed a marketing indicator for real newlinestate consumer sales. Researcher has developed the indicator with newline