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4P & STP Concept of a Real Estate Company: Amin Mohammad Foundation Ltd

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BBA
Fall2012

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4P & STP Concept of a Real Estate Company: Amin Mohammad Foundation Ltd

  1. 1. Page | 1 (1) Introduction (1.1) Background of the Study: The course Principle of Marketing (MKT101) requires a term paper. Our course instructor selected the topic “4P’s & STP concept of a real estate company. As we were permitted to choose a company ourselves, we chose Amin Mohammad “Foundation Limited” For our term paper. (1.2) Objectives of the Study:  To gain some real life experiences about collecting data from corporate level and developing knowledge about real estate companies.  To develop skill of making term paper or research paper.  This term paper alone with a presentation contains a big deal of marks. So this is also our objective to get the marks as well. (1.3) Data Collection Method:  Primary data have been collected by visiting the corporate office of AMF and talking with few personnel.  Secondary data have been collected from the website of Amin Mohammad Group and several publications. (1.4) Limitations of the Study:  On the way of going to the office of AMF, (at Dhanmondi) we faced traffic jams. That killed a lot of time.  On the way coming back, there was a fight between the police and political party Jamayat (on 13 November, Tuesday). We almost got injured.
  2. 2. Page | 2 (2) Report Findings, Analysis, Discussion (2.1) Theoretical Foundations: 4 P’s: Product, Price, Place, Promotion. The goods and services combination the company offers to the target market is called product. The amount of money that customers must pay to obtain the product is called price. Company activities that make the product available to target customers is called place. The activities that communicate the merits of the product and persuade target customers to buy it is called promotion. STP: Segmentation, Targeting, Positioning. Dividing the market into smaller segments is called segmentation. Selecting the segment or segments to enter is called targeting. And positioning means to position the market offerings in the minds of target customers. BCG matrix: A portfolio planning method that evaluates a company’s strategic business units (SBU) in term of its market growth rate and relative market share. SUBs are stars, question marks, cash cows and dogs.
  3. 3. Page | 3 SWOT analysis: An overall evaluation of strengths, weaknesses, opportunities and threats. Strengths mean the internal capabilities that may help a company reach its objectives. Weaknesses mean the internal limitations that may interfere with company’s ability to achieve its success. Opportunities mean the external factors that the company may be able to exploit its advantage. Threats mean the current and emerging external factors that may challenge the company’s performance.
  4. 4. Page | 4 (2.2) Company Profile:  Company Name: The name of the company is Amin Mohammad Foundation Limited (AMF). AMF is a sister concern of Amin Mohammad Group (AMG).  History: Founded by the present managing director & Chairman M. M. Anamul Haque in 1993. In these 19 years, the company handed over 4500 residential apartments & 0.9 million square feet commercial space.  Vision: To be a world class company in developing ideal investment opportunities and innovative real estate solutions, both locally and globally, that exceeds our clients' expectations.  Mission: To provide the finest real estate services in the region based on the highest standard of ethics, values and client care. In so doing, we will earn the loyalty and trust of the buyers who will become our life long clients and friends. Our success will always be measured by the happiness and the loyalty of our clients. To develop quality residential & commercial properties with high standards at affordable prices and achieve customer satisfaction. To achieve excellence in Real Estate Development, for the benefit of our customer, nation and society through professionalism, ethics, quality and customer service. To respect and comply with Safety, Environmental and legal requirements. To continually improve our competitive edge through innovations, Motivations Suggestion Schemes, and Customer Feedbacks.  Locations: AMF has 4 offices in Dhaka city located at Dhanmondi, Uttara, Gulshan, and Motijheel. AMF also has offices in Chittagong and Sylhet.  Slogan: The slogan of AMF is “Committed to Build the Best”  Company Objective: To present the customers homes that blend indoor and outdoor living, allowing them to enjoy the best of both worlds. Homes that have the ability to content the customer’s family as well as sustain the environment. And best of all, homes that built on answers, not questions.
  5. 5. Page | 5 View of the Head office of AMFL
  6. 6. Page | 6 (2.3) Current marketing situation: It is hard to find out exactly when real estate business started in Bangladesh for the first time. It is considered that real estate business started in late 1970s. But this business started to get progress in late 1990s. From several years, real estate business has become a very fast growing business sector. Dhaka is the target market of this business. But in recent years, real estate business has spread to the other city and urban areas like Chittagong, Sylhet, Khulna, Rajshahi, and Barisal. This business contributes 22% to total GDP in Bangladesh. There are more than 320 real estate companies in Bangladesh. But only top 15 companies have been holding 95% of the total market share. Real estate is one of the most profitable business sectors in Bangladesh. Figure: Stage of real estate company in Bangladesh
  7. 7. Page | 7 (2.4) Marketing mix: (2.4.1) Product profile:  Product’s Description: AMF build and sell residential apartments. They also deal with commercial space. All of their projects have 55% open space blended with indoor living and outdoor refreshment. AMF choose city’s only prestigious location for construction. Few are facilitated with play ground, jogging track, equipped gym, swimming pool, prayer room, service shop, and sophisticated security system with close circuit camera and modern fire fighting system. All of the construction of AMF capable of withstanding wind loads measuring up to 200 kilometers per hour and earthquake resistance up to 7.5 in the Richter scale. AMF strictly follow BNBC rules. AMF also provide 6 months free maintenance service for technical problems. Figure: One of the residential projects of AMFL (located at Gulshan)
  8. 8. Page | 8 Figure: One of the commercial projects of AMFL (located at Dhanmondi)  Products position through BCG Matrix: AMF is one of the top 15 real estate companies in Bangladesh. Definitely it is in the “stars” position. It must keep providing quality apartments in order to hold their position as well as goodwill.  STP: AMF divide the market according to social class under psychographic segmentation. From different social class, they targets upper class people to serve. AMF follows “more for more” positioning strategy. This is why they build high quality residential apartments & commercial complex and set high price to sell. (2.4.2) Pricing strategy: AMFL follows cost based pricing strategy. They design and build premium quality apartments and targets the upper class people to sell.
  9. 9. Page | 9 (2.4.3) Distribution: AMFL collect land for the purpose of construction by print media circulation. AMFL buy steel from BSRM, RSRM and Bashundhara steel. They use Crown, Supercrete, Cemex and anwar brand cement. AMF bring sand from Sylhet and Gozaria. They also use RAK & Fu-Wang tiles and electrical wires & other equipments of Paradise, BRB & Singer Brand. They sell most of their flats from housing fair. Most of their buyers are businessmen. Other flats are sold through their corporate offices. Moreover, AMFL have field agents to increase sell. (2.4.4) Promotional tools: When any housing fair is arranged by REHAB, AMFL offer special discounts and other financial facilities on their apartments. AMFL advertise on daily newspapers very often, especially on “Prothom-Alo”. They also often advertise on TV chanels, especially on “Islamic TV”. Apart from these, AMFL keep contacts with their cusomers sincerely. (3) SWOT analysis Strengths: AMFL have skilled, well-trained & Professional personnel. Weaknesses: We are sorry that no weakness is found. Opportunities: Real estate business is now spreading in the other urban areas. This is a great opportunity. Threats: Lands in Dhaka city is decreasing rapidly. Soon there will be no land for construction.
  10. 10. Page | 10 (4) Conclusion Amin Mohammad Foundation Limited is a raputated and well renowed name in the real estate business of Bangladesh. They have experienced a series of success in their brief business history. This success would not have been possible without maintaining commitment, quality works and sincere blessings of their clients and the relentless effort ans commitment from their dedicated team. So, those who want buy luxerious and quality residencial apartments and commercial complexes, they can choose AMFL with without any hesitation. (5) Recommendations AMFL should work on residencial projects for middle class customers instead of only targeting upper class customers. This step can increase their both profit and popularity. As the land is rapidly being unavilable, they should expand and spread their construction business in the other city and urban areas beside Dhaka. So that they will be able to keep profing in the long run.
  • ShemantoSajan

    Feb. 11, 2020

BBA Fall2012

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