internship report_ib

Chapter 1:

Introduction

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1.1 Introduction

The real estate sector is one of the fastest growing and thrusting sectors in Bangladesh.

Infrastructural development is highly important for a country to rise as a developed nation

and to ensure housing facilities for the citizens of the country. There are many developing

companies who are serving sophisticated design in this industry. All the companies are trying

to keep the cost low and competing aggressively to take greater market sHeres. Bangladesh

Development Company Ltd has over 21 years of track record of sustained growth, customer

satisfaction, and innovation. Bangladesh Development's primary business is development of

residential, commercial and five star hotels. The company has a unique business model with

earnings arising from development and rentals. Its exposure across businesses, segments and

geographies, mitigates any down-cycles in the market.

Bangladesh Development Company Ltd is one of the leading developing companies in

Bangladesh. It is creating its brand image day by day by providing not only modern

architectural buildings but also sophisticated interior designing for their clients. Bangladesh

Development Company Ltd never compromises with its design and construction products

quality. Their main concern always is the safety of their clients. So clients are also very much

depending on them. Consequently they can build up a very good relationship with their

clients.

In this business Bangladesh Development Company Ltd achieved a very good position in the

market according to their survey that they conducted informally. They have gained trust and

name in providing very modern as well as safe design to their clients.

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1.2 Origin of the Report

As a compulsory part of Internship program, this particular report is being prepared by the

author on the proposed topic “Customer Satisfaction towards a Real Estate Developing

Company in Bangladesh – A Study on Bangladesh Development Company Ltd”. The

intention was to give an opportunity to the students to gain some real world experience by

working in a practical environment. The internship supervisor was Mr. Md. Aslam Uddin,

Assistant Professor, and Faculty of Business Studies.

1.3 Scope of the Study:

As a student of Bachelor of Business Administration (BBA) every student has to conduct a

practical orientation in any organization for fulfilling the requirements of the 12 weeks

Internship Program. The main purpose of the program is to introduce the students to the real

corporate world. My place of internship was “Bangladesh Development Company Ltd”, one

of the leading development companies of Bangladesh. I have worked for 16 weeks at Sales

and Marketing department.

The main intention of the study is the standards and effects of client satisfaction to find

understand and document the processes and activities carried Bangladesh Development

Company Ltd and correlate them to get a clear picture of the level of the overall client

satisfaction. The report covers details about the product, overview of the company and also

facilities provided by the company to satisfy their clients. The main focus is on the analysis

of the clients’ satisfaction level. All the information is collected from all the levels of

employees and clients of Bangladesh Development Company Ltd. I hope that my report

contains all the necessary information needed to complete a successful internship report.

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1.4 Objectives of the Report:

The main objective of this report is to determine the customer satisfaction towards different

apartments of Bangladesh Development Company Ltd.

More specifically, this study entails the following aspects:

To know the company profile of Bangladesh Development Company Ltd.

To find out different kinds of products, services and facilities offered to the

customers by the company.

To give an overview about real estate business in Bangladesh.

To know whether the customers of BDC are satisfied or not to this company.

1.5 Methodology

The methodology describes the procedures to organize the scattered ideas & views to conduct

a study. Proper working procedure helps to capture the right things during study periods &

finally fulfills the objective of the study. Generally a method involves a technique in which

various stages of collecting data or information are interpreted. So, adoption of methodology

is an important step in performing any study.

1.5.1 Population, Sampling and Sampling Unit

Population size is 200 flat/apartment owners who have bought their properties from

Bangladesh Development Company Ltd. From these 50 customers are randomly chosen for

interview. Sampling unit consists of 29 businessmen. 16 service holder and 5 government

officials.

1.5.2 Sample design

This descriptive study covers the sample of 50 respondents. The pool of respondents consists

of businessmen, service holders; government officials who have owned their properties from

Bangladesh Development Company Ltd. Non probability convenience sampling technique is

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used to select the sample. Personal interviewing method is used to get response from

respondents. To record the responses of sample respondents, a structured questioner is used.

1.5.3 Data gathering

In order to prepare the report both primary and secondary data are needed. Primary data is

collected by the questionnaires. Here direct communication is essential for gathering required

data. Secondary data is collected from the internet, books, company’s brochure and journals.

Figure 1: Sources of Data

1.6 Limitations of the Report

The major limitation for this report were

1. Respondents might not give the accurate information.

2. Unfortunately due to the company’s limitations (business secrecy and

confidentiality), it was not possible to acquire sufficient information.

3. Lack of experience of researcher.

4. Time was also a limitation. Gathering information during working was a tough

job.

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Chapter 2:

Literature Review

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2.1 Customer Satisfaction:

Customer satisfaction is a key factor which brings success to a business. To find out about

what customers are satisfied with a company’s business in order to discover wherein the

company’s services/products or operation should be improved; this helps the company’s

business to always meet customers’ demands and expectations.

Customer Satisfaction is the states at which the requirements are fulfilled in a way that meets

the expectation of them and the after sales services are taken care of.

Customer satisfaction is a customer's evaluation of their purchase and consumption

experience with a product, service, brand, or company. Interest in satisfaction stems from its

role in affecting customers' repeat purchase decisions and subsequent company profits.

Figure 2: Customer satisfaction, customer loyalty and business performance

As the link to profitability has become clear, customer satisfaction is now a prominent metric

in business accounting and reporting. There have some reason behind that:

• Customization is more important than reliability in determining customer satisfaction

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Customer satisfaction, customer loyalty and business performance

CustomerSatisfaction

CustomerLoyalty

BusinessPerformance

Understanding customer requirements

Meet customer expectations

Behavioral loyalty

Attitudinal loyalty

Revenue growth

Share of customerCustomer tenure

• Customer expectations play a greater role in sectors in which variance in production and

consumption is relatively low

• Customer satisfaction is more quality-driven than value- or price-driven.

The science of Customer Satisfaction is based on a simple equation:

Customer Satisfaction = Supplier Performance - Customer Expectations

This formula measures the customer satisfaction of customer of any organization.

There have some other formulas which are used to determine the level of customer

satisfaction of an organization. These are:

Expected service < actual service = delighted customer

Expected service > actual service = customer will be dissatisfied

Expected service = actual service, customer will be satisfied

2.2 Real Estate Business in Bangladesh:

Real estate sector is one of the most attractive sectors of investment now in Bangladesh.

Rapid urbanization has become an acute problem for the country. The rate of urbanization is

estimated to be 5-6% annually for Bangladesh (REHAB, 2004). About 25% of the people of

Bangladesh is now living in urban areas and 34% will be living by 2015 (REHAB, 2004) and

50% by 2025 (Singha D., 2001). There is acute shortage of housing supply in all urban areas

and it’s increasing with current demand of 600,000 to 800,000 units all over the country.

Particularly in Dhaka this demand is estimated to be 60,000 units of real estate apartments

combined with 200,000 units of replacement plus backlogs (REHAB, 2004). Dhaka is

currently growing very fast compared to other cities in Bangladesh. Thus there exists a high

demand of plot and flat units. This huge and unfulfilled demand is highly attractive for the

investors. The Real Estate and Housing Association of Bangladesh (REHAB) is the sole

organization of the real estate agents, developers and builders. It had more than 450 members

registered in 2009. Moreover, around 350 non-registered real estate developers are doing

business in this sector (Amin S., 2008). According to REHAB they are currently supplying

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Housing Real Estate Sector in Bangladesh 241 only around 8,000 to 10,000 units of housing

apartments against the abovementioned huge demandi. The approximate turnover in the real

estate sector has been Tk. 20 billion, which contributes revenue of around Tk. 2 billion a year

to the government. The real estate developers and builders have already supplied

approximately 60,000 units to this sector market in the past 20 years. The sector now

employs about 2 million people,\ which consists of architects, engineers, management

officials, direct and indirect labors. The average contribution to GDP of this sector in the last

fiver years was 12- 14%. In 2007-08 . The growth rate of this sector fell to 5.93% from

7.01% of 2006-07 (Amin S., 2008). It drastically dropped from the previous years (Graph-1)

(REHAB, 2004). Real Estate to Real Economy in Bangladesh From 1994-95, over the last 10

years, Bangladesh real estate sector grew at an average of 3.64% reaching the peak at 3.83%

in 1999-00. Though it had a fall in 2000-01, there was recovery in 2001-02. For the last 5

years this sector grew impressively and showed a smooth rising trend. The comparative

scenario of GDP shows a steady 6% growth for Bangladesh. According to the real estate

experts, as GDP of Bangladesh is still below that of other South Asian Countries, Bangladesh

has more to grow which can be fostered by continuous increase in the sHere and growth of

real estate sector in the country. This contribution of real estate and construction in GDP of

Bangladesh was 16.20% in 1994-95, which became 16.69% in 2000-01 and 17.22% in 2004-

05. This sHere slowed down to around 8% in FY 2008 (Graph-2). It was probably due to the

high price barrier for larger portion of population to buy real estate apartments. It was also

almost saturation of the already existing high end population market. The housing real estate

business’s untapped potential is quite evident from the real estate apartment penetration

in the neighboring countries of Bangladesh (Graph-3). Islam M. S. and Hossain A. (2008)

depicted the value addition of the overall housing sector inclusive of the real estates falls in

different areas. As explained by Islam M. S. and Hossain A. (2008), among the 21 subsectors

under the housing industry, Steel (29%), Work Force Labor (20%) and Cement (11%) are the

highest contributing subsectors. Thus the real estate being the most crucial housing

facilitating private channel is extremely vital and it has to have a large backward supply chain

for its sustenance.

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2.3 Apartment Business in Dhaka City:

Dhaka City, born during the Mughal Empire and grown with the British rule, is expanding

rapidly. From the beginning of the 20th Century its growth and latter development is marked

with sheer lack of proper and far-reaching planning. The impact is now being felt at the end

of the century. Dhaka City is undergoing terrific growth phase throughout the last two

decades. While there are so many real estate developers in the market, there are also very few

of them who have maintained the quality, safety and customer preference. It is customary in

the country that the first day quality and impression is lost after a while when people start

getting a bit of familiarity. This happens due mainly to lack of professionalism. Sometimes

the consumers here are in a fix to choose a particular brand out of many. A good number of

real estate companies are working under one umbrella association named ‘Real Estate and

Housing Association of Bangladesh’ (REHAB). Almost 83 Companies are at present

affiliated with this association, while more than 200 companies are working independently.

BTI took a leading role in the formation of the industry association and is one of the founder

members of the REHAB.

2.3.1 Objectives of Apartment Builders Companies:

a) To offer finest apartments in excellent locations to the clients;

b) To provide sound construction with aesthetic design to the clients;

c) To install best possible fittings and fixtures;

d) To satisfy clients by expert-oriented service;

e) To help solving the residential problem of Dhaka city;

Apartment projects has started in late 1970s in Dhaka City. But from early ’80s the business

started to grow and flourish. At present, more than 250 companies are active in business but

95% business is still dominated by of top 10 Companies. Present market is growing at the

rate 15%.

2.3.2 Reasons for development of the Apartment industry:

The main reasons why real estate business developed in Dhaka city are as follows:

a) Scarcity of open space in the important areas of the city

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b) Hazards of purchasing land

c) Hazards of construction of building

d) Rapid increase in population of Dhaka

e) Decrease in the rate of bank interest

f) Price of land and apartments is increasing day by day

g) Rent of the apartments is comparatively higher than the rent of privately constructed flats

h) Open Market Economy. Remittance of foreign currency is very easy

i) Security

j) Service facilities such as garbage disposal, central satellite TV connection, apartments

services saves time, roof top facilities, lift and so on

2.3.3 Targeted market segments of Apartment builders:

The market of real estate business sector is highly segmented. This segmentation is mainly

based on the location, price of the land, and size of the apartments. The segmented areas are:

a) Segmentation – I :Baridhara, Gulshan, Banani, DOHS, Uttara

b) Segmentation – II :Dhanmondi

c) Segmentation – III :Segunbagicha, Shantinagar, Kakrail, Malibagh, Kalabagan

d) Segmentation – IV :Mirpur

e) Segmentation – V :Old Town of Dhaka City

f) Segmentation – VI :(For office building) Motijheel, Dilkusha, Fakirapool DIT h)Extension

Road, RK Mission Road, Shahidbagh, Kawran Bazar, Pantha Path etc.

Places in Dhaka city where apartment projects has been congregated:

Dhanmondi; Gulshan; Banani; Eskaton; Siddeshawari; Panthapath; Baridhara; Elephant

Road; Mirpur Housing Estate, Mirpur; Dilkusha C/A; Kakrail Rd.; Malibagh; Lalmatia;

Indira Road; Pallabi, Mirpur; Old Airport Road; Farmgate; Inner Circular Road; Mohakhali;

Ashulia, Savar; Kalikair, Gazipur.

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2.4 Customer Satisfaction in Purchasing Apartments:

Customer satisfaction is the element to measure the successfulness of a business. Obviously,

one of the challenges in severely marketing competitive environment is bringing to customer

the satisfaction.

Product or Service Features: Customer satisfaction is influenced significantly by

specific product or service features, perceptions of product and service quality and

price. It is the relative value to customer of what is supplied compared with the

satisfaction of purchases from other companies. Bangladesh Development Company

Ltd is very much concern in this factor. Their first priority is always the products

feature.

Client’s Emotion: Personal factors such as the customer’s mood or emotional state

and situational factors such as family member options will also influence satisfaction.

In order to gain the satisfaction from Client effectively, it is necessary to understand

their needs, demands which are very important for Company and while constructing

their buildings they always focus on that point.

Attributions for Service Success or Failure: Attributions are the perceived causes

of events which influence perception of satisfaction. When they have been surprised

by an outcome clients tend to look for the reasons and their assessments of the reasons

can influence their satisfaction.

Perception of Equity and Fairness: Loyal customers often expect to be fairness or

equity which sometimes dissatisfied client of a company because of their high

product and service prices. An appropriate price level while still requiring values from

the relationship like appreciated, recognized as regular customers as soon as initially

entering business transaction with company, company’s staff with clear understanding

their expectations and creating their benefits during the relationship..

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Other Clients, Family Members and Coworkers: High level of customer

satisfaction is the primary goal which all companies try to approach. This is the best

way to attract and maintain relationship with customers. Loyal customers with high

satisfaction are less sensitive and aware of finding an alternative service/product.

Consequently, current customer’s friends, partners and relative will also get

perception of company’s business via their daily usual talks.

Factors affecting Customers Satisfaction: Satisfaction depends on various factors

like Branding, Product Quality, Product Design, Pricing, Customer Service,

Commitment, Convenience, Process and Information Sharing.

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Chapter 3

Company Overview

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3.1 Background and History of Bangladesh Development Company Ltd

Bangladesh Development Company Ltd started its operation in January 1992 with a view to

design and construct luxurious apartments, Duplexes and Commercial Buildings with high

standard and quality by developing lands in the areas of Gulshan, Baridhara, Banani and

Panthapath of Dhaka. After extensive research and development this company has earned the

credibility and reputation from all concerned. Now the Company has got the capability of to

design and construct big budgeted ultra modern high-rise apartments and commercial

buildings as well. The company builds the sculptures with modern elevators and facilities and

proceeding with most experienced professionals to give the ultimate service to the customers.

Bangladesh Development Company Ltd is a local developing company and it is working

locally. So it has a strong brand image as well as a strong business network all over the

country. Bangladesh Development Company Ltd outsources design and consultancy for their

buildings and interior and exterior. But they don’t start working outside the country yet. But

they have future plan to do work internationally and also globally.

3.2 Mission:Mission of Bangladesh Development Company Ltd is to remain in Top of Real Estate

Business in comparison to others offering Quality products in affordable best price for the

Clients.

3.3 Vision:Vision of Bangladesh Development Company Ltd is to make shelter for Urban Dwellers both

middle and Upper class through BRE as a developer of low and High-rise building

Construction using best quality man, materials and equipments.

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3.4 Bangladesh Development Company Ltd at a Glance:

Name of the Company : Bangladesh Development Company Ltd

Parent : Bangladesh Development Group

Founded : January 1992

Founder : Mustafa Kamal Mohiuddin

Managing Director : Mustafa Kamal Mohiuddin

Location : Plot No.-186, Block-B, Bashundhara Avenue Road,

Bashundhara Residential Area, Dhaka 1229, Bangladesh.

Products : Five star hotels, Luxurious apartments, Duplexes,

Condominium, Office spaces, Shops/ Outlets, Satellite city,

Resort city, parking lot etc.

Contact Info:

Telephone : +880-2-8401883-6

Fax : +880-2-8401887

E-mail : [email protected]

Web : www.bdg.com.bd

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mailto:[email protected]

3.5 The Organizational Structure

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3.6 Projects of Bangladesh Development Company Ltd

3.6.1 BDC Towns

East, West, North, South and New Towns are unique projects of BDC to meet the acute

housing crisis by building satellite towns which will encompass not only needs but also all

other facilities that are required for modern living.

East Town

Information: Located beside Dhaka-Chitagong main road(Katchpur/Madonpur).15km

from Motijhel The project under DAP., Plot Size: 2.5 to 20 katha

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West Town:

Information: Beside Dhaka Savar Highway on the banks of river Dhaleswary.

Plot Size: 2.5 to 20 katha

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North Town:

Attachted with Uttora Model Town, Beside Dhaka Mymensingh Hiighway on the

banks of river Turag. Plot Size: 2.5 to 20 katha

South Town:

Developer Name: Bangladesh Development Group (BDG)

This project is South site of Rajuk Jheelmil beside-Dhaka - Mawa Hi-way Road.

Plot size- 2.5 to 20 katha.

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3.6.2 BDC Apartments

SHAYMOLI PLAZA is one of our superb apartments projects at 27/2/C , Shaymoli, Road –

03, Prime location of Dhaka city. Schools, Colleges, Hospitals, Bazar, park, Shangsad

Bhaban & Different Govt.offices are within a walking distance from the project.

The project comprises of a 10 storied residential building having 18 apartments. It has been

designed to suit contemporary life styles with particular emphasis in allowing sufficient

natural light & ventilation, not only in individual apartment but also in the common spaces.

BANGLADESH DEVELOPMENT COMPANY LTD. (hereinafter BDC) is the builder &

developer implementing the apartments complex with all facilities described in the brochure.

Shamoli Plaza

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Some other Apartment projects of BDC

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3.6.3 Features of the Apartment Projects:

1. Building Entrance /Reception

Secured decorative main gate commensurating the elevation and perspective of

the building.

Attractive apartment's logos with plantation

Comfortable internal Driveway

2. Walls and Partitions:

Internal & external walls 5" thick of 1st class bricks.

Wall surfaces of smooth finished plaster with decorative as per Architects design.

3. Room Finishes:

Homogeneous Floor tiles (RAK/Equivalent) in all rooms and verandahs.

Acrylic plastic emulsion paint in all internal walls and white distemper on

Ceilings (Berger /Elite/Equivalent).

4. Outside Paint :

Weather coat paint /cement paint at exterior walls (Berger/Elite) as per Architect's

Choice.

5. Door and Windows:

Imported /Solid wooden Segun decorative entrance Door with heavy duty Lock,

Doorchain, Check viewer, Apartment Number etc.

All internal doors are of Strong & durable veneer flush door shutter with Polish.

6. Toilet features:

RAK/Equivalent commode, lowdown and pedestal basin in master & 2nd

bathrooms will Have RAK oriental pan, lowdown & basin in the toilets ( except

maids toilet).

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Glazed wall tiles in all bathrooms upto full height of 7 (Seven) feet (

RAK/Equivalent) (except maids toilet).

Ceramic floor tiles in all bathrooms ( RAK/Equivalent).

Basin mirrors of good quality with overhead lamp provision.

7. Kitchen:

Shelf at 2.5 feet height from floor level with lines.

Double burner Gas point over tiles topped platform.

One highly polished stainless steel sink (Foreign) with sink cock.

Planned and designed by professional Architect and Structural, Electrical &

Plumbing Design Engineers.

For all service connections disposals (sewerage, solid waste, etc.) BNBC Building

code will be followed.

Structural design parameters are based on American concrete institute (ACI) and

American standards of testing materials (ASTM) and BNBC codes.

Sub-soil investigation and soil composition have been analyzed from laboratory.

11. Major structural materials:

60 Grades MS deformed bar will be used .

Cement: Portland cement of reputed local company will be used in construction

work.

Aggregate:3/4" down Graded best quality crashed stone chips will be used for

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3.7 Marketing Mix of Bangladesh Development Company Ltd:

1. Product:

Product is the most important element to Bangladesh Development Company Ltd for gaining

client satisfaction. Bangladesh Development Company Ltd is a developing company. So its

products include Residential building, Commercial Complexes and Five star hotels. And

Bangladesh Development Company Ltd all time delivers quality products to their clients.

The product offering involves a wide range of products including-

Condominiums,

Duplexes,

Row houses

Apartments of varying sizes.

Ready Plots

BDC is credited with introducing and pioneering the revolutionary concept of developing

commercial complexes in the vicinity of residential areas. BDC has successfully launched

commercial complexes and is in the process of marking its presence across various locations

in Bangladesh.

BDC owns the luxurious Westin hotel at Gulshan Dhaka and also they have an alliance with

Starwood & IGH Group for development and management of hotels in Bangladesh. The hotel

business is currently undergoing a comprehensive review by the company as regards its

future plans, commitment towards resources and the extent of scale and size that the company

aspires to achieve in this segment.

2. Price:

Bangladesh Development Company Ltd is superior and unique in this field of pricing which

is actually depends on the area and the location. For the price of their services it’s high as

because their giving high quality product and their targeted market is also upper class and

upper middle class peoples in society. They facilitate a high pricing range because of its

quality products. They believe that they have the most quality products compare to others, so

they charge high price compare to others. Their pricing strategy is skimming pricing strategy

which is actually charging a high price for luxurious products. They set up this strategy for

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their products as because they believe that the high price is interpreted as a sign of high

quality. They never compromise with their product qualities so they always charges high

prices for those. They believe that, though their products are expensive, their client will be

very satisfied with the products they are getting. To attract the new customer they are trying

their best to keep their price reasonable for their customer who belong to the upper middle

class and upper class people.

2. Place:

Bangladesh Development Company Ltd has established their different projects at different

locations based on customer choices and preferences. Places are convenient for their clients

living hood. Their locations are given below:

1. Banani

2. Gulshan

3. Panthopath

4. Uttara

5. Baridhara

6. Nababgonj

7. Eskaton

8. Kazi Nazrul Islam Avenue

9. Islampur Kumartoli

10. Kawran Bazar

11. Boro Magbazar

After extensive research and development this company has earned the credibility and

reputation from all concerned. Now the Company has got the capability of to design and

construct big budgeted ultra modern high-rise apartments and commercial buildings as well.

The company builds the sculptures with modern elevators and facilities and proceeding with

most experienced professionals to give the ultimate service to the customers. Suitable

locations for the different clients are their aim to gain client satisfaction.

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4. Promotion:

Bangladesh Development Company Ltd is following some promotional strategies in order to

compete in the market. Now-a-days, we are observing that there are so many real estate

companies and to compete in the market is really a great challenge. Furthermore, to develop

the best marketing strategy for real estate companies, they do a bit of research. Bangladesh

Development Company Ltd talks to their current clients and ask them questions about their

experience with their company Bangladesh Development Company Ltd makes

advertisements for their promotion very strongly. They use print media for their

advertisements. Other promotional strategies are: Newspaper advertisement is the most

traditional means of marketing. So Bangladesh Development Company Ltd provides

advertisements in the newspaper to attract and grab the attention of their clients. So, they at

first find online website directories for real estate companies in their area, or even across the

country. Bangladesh Development Company Ltd also has Email campaigns to reach

prospective clients or to up sell to current clients which is really a fast, easy and inexpensive

ways By the personal selling Bangladesh Development Company Ltd has created lots of

communication between the buyer and seller, which is highly interactive, excellent for

communicating complex / detailed product information and features, relationship builds up.

Bangladesh Development Company Ltd every year participates in the rehab fair and grabs

their new, old and potential clients by sales promotion. By that they stimulate quick increases

in sales by targeting promotional incentives on particular products, which is a good short

term tactical tool.

5. People:

Under the perspective of Bangladesh Development Company Ltd, People is that person from

whom client gets service or products and also the clients is fallen under people. In whole,

service provider and service receiver both are the people in service marketing. Bangladesh

Development Company Ltd in this respect has many well known employee works in there,

and those who are not well enough, they provide them proper training, as a result, and those

people also can give a better service after the training. They also recruit the best person in

their company, by giving best priority to those who are better qualified. They also motivate

their employee by giving better salary, bonus (Festival, Occasion). They give reward to that

employee who does a good job in their work.

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Clients are the most important elements to Bangladesh Development Company Ltd. Their

first priority is always to satisfy their clients anyhow because client’s satisfaction is very

important to them. They always keep trying to attract their clients to them and satisfy them.

Because, as the link to profitability has become clear, customer satisfaction is now a

prominent metric in business to Bangladesh Development Company Ltd.

6. Physical Evidence:

The physical evidence of service includes all the tangible representations of the service such

as brochures, letterhead, business cards, report formats, signage, and equipment. Bangladesh

Development Company Ltd also has these physical evidences for their business purpose.

7. Process:

Like other organizations Bangladesh Development Company Ltd has some process of

working. In working process they have flow of activities, number of steps and customer

involvement. The actual delivery steps that the customers experiences or the operational flow

of the services, also give customers evidence on which to judge the service. Some services

are very complex requiring the customer to follow a complicated and extensive series of

actions to complete the process. Company Ltd follows standardized process to provide the

services. Customer involvement, it is very important for each and every organization. Besides

providing the quality service they also keep good relations with their customers. There must

be a link or relation between service sender and service receiver which helps to ensure the

long run business. If there is no relation then it will not go ahead. So for this reason

Bangladesh Development Company Ltd keep a relationship with their customers and the

customer also keep a good relationship with Bangladesh Development Company Ltd and

both make a sense of good relation as well as good business.

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Chapter: 4

Findings and Analysis

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4.1 Data analysis and interpretation:

The data I have collected through using the contracting method are analyzed in the following

art to find out the real scenario of Bangladesh Development Company Ltd and find out the

true picture of the industry. I also tried to interpret or express the thing which the respondent

of my report really wanted to state.

1. The names of the different projects of Bangladesh Development Company Ltd. are

attractive.

Comment: Here the diagram shows that, 12% respondents are strongly disagreed with the

statement, 2% of the respondents are disagreed, 34% respondents are neutral, 50%

respondents are agreed and 2% respondents are strongly agreed with the statement.

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2. Pricing matches with quality of the product.




3. Designs of the Apartment/Flat are attractive.




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4. Different sizes of apartments are available.




5. The Locations of the projects are convenient.

Comment: Here the diagram shows that, 14% respondents are disagreed with the statement,

26% respondents are neutral, 50% respondents are agreed and 10% respondents are strongly

agreed with the statement.

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6. Company’s apartments are available in most of the area.



respondents are agreed with the statement.

7. The registration process of flat and apartment is reliable.




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8. Company’s promotional campaign is not so good enough.




9. Company provides the most informative promotional materials regarding the

products.

Comment: Here the diagram shows that, 20% of the respondents are disagreed with the

statement, 44% respondents are neutral, 36% respondents are agreed with the statement.

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10. Company fails to handover the apartment/flat in time as committed.




11. Company uses quality raw materials to build constructions.




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12. Prices offered for the apartments are not reasonable.




13. Company’s executives are active in responding customer’s query.




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14. Electricity, gas & water connection are available on site as committed.




15. Payment system is satisfactory.


statement, 12% of the respondents are disagreed, 54% respondents are neutral, and 32%

respondents are agreed with the statement.

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4.2 Major Findings

1. Customers of Bangladesh Development Company are not satisfied with the price of

the products as most of the respondents either strongly disagree or disagree that price

of the products are reasonable.

2. Customers are neither satisfied nor dissatisfied in the quality of raw materials used in

construction of the apartment as most of the respondents remain neutral in this

particular statement.

3. Customers are not satisfied with promotional campaign of the BDC as most of the

respondents are either strongly agree or agree that company’s promotional campaigns

are not so good.

4. Customers of the BDL are not satisfied in supply of utility connections (gas,

electricity, water etc) in apartments as most of them either disagree or strongly

disagree that electricity, gas & water connection are available on projects as

committed

5. Customers are not satisfied with the handover time of the completed apartments as

most of them either strongly agree or agree that BDC fails to handover the apartments

in time as committed.

38

Chapter: 5

Recommendations and Conclusion

39

5.1 Recommendations

Bangladesh Development Company Ltd should work on to improve their customers’

satisfaction level in those areas in which are currently dissatisfied or not satisfied.

Bangladesh Development’s pricing strategy should be re-evaluated as the customers are

dissatisfied to the price of the products. Company should conduct a marketing research

regarding ‘pricing’ since it is very important marketing tool and has a significant impact

in business.

Company should use quality raw materials for construction works as a large number of

respondents’ remains neutral about the quality of raw materials used in construction.

BDC Ltd should reevaluate its current promotional campaign strategy and make it more

effective.

Company should aware to handover the completed apartments to its customers in time as

committed.

Company should provide utility connections (gas, water, electricity) in the projects timely

as committed.

.

40

5.2 Conclusion

Bangladesh Development Company Ltd is one of the reputed companies in our country. It is

now operating its activities in the competitive market for providing more and more

sophisticated interior designing. Every company has its long-term goal of operating its

activities with good performance. The overall performance of any organization depends on

the satisfaction of the clients. So the company should consider their individual clients

satisfied with their better services.

Bangladesh Development Company Ltd has successfully managed to keep its position among

the top 10 companies in developing modern building as well as their interior designing. They

have a good potential to expand their business and capture more markets. Their main strength

is their hardworking and efficient workforce which has enabled them to reach what they are

today. With over two decades of excellence, BDC is a name synonymous with global

standards, new generation workspaces and lifestyles. It has the distinction of developing

commercial & residential projects

41

Chapter: 6

Appendix

42

6.1 References

Arora, R. (2007). Message framing strategies for new and mature products. The Journal of Product

and Brand Management, 16(6), 377. Retrieved October 4, 2010, from ABI/INFORM Global.

(Document ID: 1373518421).

Katz, D. (1937). Attitude measurement as a method in social psychology. [Electronic version]. Social

Forces, 15(4), 479-482. Retrieved October 3, 2010, from JSTOR:

http://www.jstor.org/stable/2571413

Narayan, S. (2010). The perils of faking it. Retrieved October 3, 2010, from

http://64.74.118.102/2010/02/04214927/The-perils-of-faking-it.html

Novack, J. (2010). Internal influences – lifestyle and attitude. Retrieved, October 3, 2010, from

http://www.marketingteacher.com/lesson-store/lesson-internal-influences-lifestyle-attitude.html

Oskamp, S. & Schultz, W. (2005). Attitudes and opinions. Lawrence Erlbaum Associates, NJ.

Perner, L. (2010). Consumer behavior: the psychology of marketing. Retrieved October 2, 2010, from

http://www.consumerpsychologist.com/

Petty, R. & Cacioppo, J. (1981). Attitudes and persuasion: classic and contemporary approaches.

Dubuque, IA: William C. Brown.

Shaughnessy, H. (2010). How semantic clustering helps analyze consumer attitudes. Retrieved,

October 4, 2010, from

http://blogs.hbr.org/research/2010/07/every-day-in-the-english.html

Sidgwick, H. (1907). Methods of ethics (7th ed.). Macmillan and Company, London.

Sirgy, J. (1991). Value-expressive versus utilitarian advertising appeals: when and why to use each

appeal. Retrieved October 2, 2010, from

http://www.allbusiness.com/professional-scientific/advertising-related-services/270171-1.html

Smith, J., Terry, D., Manstead, A., Louis, W., Kotterman, D., & Wolfs, J. (2008).

The Attitude-Behavior Relationship in Consumer Conduct: The Role of Norms, Past Behavior, and

Self-Identity. The Journal of Social Psychology, 148(3), 311-33. Retrieved October 4, 2010, from

ABI/INFORM Global. (Document ID: 1501929231).

Solomon, M. (2009). Consumer behavior buying, having, and being (8th ed.). Upper Saddle River,

NJ: Pearson Prentice Hall.

43

http://www.allbusiness.com/professional-scientific/advertising-related-services/270171-1.html

http://blogs.hbr.org/research/2010/07/every-day-in-the-english.html

http://www.consumerpsychologist.com/

http://www.marketingteacher.com/lesson-store/lesson-internal-influences-lifestyle-attitude.html

http://64.74.118.102/2010/02/04214927/The-perils-of-faking-it.html

http://www.jstor.org/stable/2571413

6.2 Questionnaire

Customer Attitudes towards Real Estate Company in Bangladesh: A Study on Bangladesh

Development Company Ltd.

Respondent Name:

Age:

Occupation:

Designation:

Work place:

On a scale of 1 to 5, please rate the following (circle the response that best applies)

Strongly Disagree (SD) 1

Disagree (D) 2

Neutral (N) 3

Agree (A) 4

Strongly Agree (SA) 5

Seria

l

Statements 1

(SD)

2

(D)

3

(N)

4

(A)

5

(SA)

01. The names of the different projects of Bangladesh

Development Company Ltd. are attractive.

02. Pricing matches with quality of the product.

03. Designs of the Apartment/Flat are attractive.

04. Different sizes of apartments are available.

05. The Locations of the projects are convenient.

44

06. Company’s apartments are available in most of the

area

07. The registration process of flat and apartment is

reliable.

08. Company’s promotional campaign is not so good

09. Company provides the most informative

promotional materials regarding the products.

10. Company fails to handover the apartment/flat in

time as committed.

11. Company uses quality raw materials to build

Constructions.

12. Prices offered for the products are reasonable.

13. Company’s executives are active in responding

customer’s query.

14. Electricity, gas & water connection are available

on site as committed.

15. Payment system is satisfactory.

Interviewer Signature:

Date:

45

internship report_ib

Documents

development of residential

infrastructural development

clients satisfaction

weeks internship program

main intention

leading developing companies

overall client satisfaction

effects of client satisfaction