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Discover the history, present situation, and future opportunities in the thriving real estate market of Bangladesh. Learn about Asset Developments & Holdings Ltd, a pioneer in the industry, its philosophy, activities, and remarkable services for customers.
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Presented By: • Ziaul Hoque Shishir(C) • Shahin khan • Tanvir Rahman • Asad Saimon • Shakh Jahidur Rahaman
History of Real Estate in Bangladesh • The urbanization of Bangladesh is quite similar to that in Latin America; formerly called over-urbanization in 1950s, this is a situation where a rapid rate of urbanization does not lead to corresponding growth in industry and economy but results in a shift of people from low-productivity rural agricultural employment to low-productivity urban employment or underemployment. • Due to globalization, the urbanization process is also increased. The ever-increasing urban Population is creating an increasing demand for shelter. • Bangladesh has one of the lowest land-person ratios in the world. The situation is further aggravated every year through an irrevocable reduction of per capita share of land for housing, as a result of continuing population growth.
Present Situation in Real Estate • Dhaka City, born during the Mogul 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. • A good number of real estate companies are working under one umbrella association named 'Real Estate and Housing Association of Bangladesh' (REHAB). Almost 361 Companies are at Present affiliated with this association, while more than 400 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
Real Estate Opportunities • As economy of Bangladesh is changing rapidly that results market is becoming too much competitive and customers are becoming focal point of all the activities. At present some companies are already come up with quality that maximizes the customer’s satisfaction and started operating in this market. • The ADHL must carefully develop every step of the marketing decisions and should be based on market information, customer perception, quality and gut feeling. Beside this competition, there are some opportunities for the marketers
ASSET DEVELOPMENTS & HOLDINGS LTD • Bangladesh has come a long way since its independence. It has improved key social indicators and the well being of its people. The Asset Developments & Holdings Ltd has an integral part of this progress. • ASSET DEVELOPMENTS & HOLDINGS LTDphilosophy is simple: To improve living standards. As a result of this philosophy, ASSET DEVELOPMENTS & HOLDINGS LTD is today Bangladeshis largest residential real estate company. Its slogan is that we are dedicated to providing customers of real estate with the highest quality services possible. • ADHL the largest private sector business conglomerate of Bangladesh started its journey back in 18th day of November 1999. With a record of the highest growth rate in the history of Bangladesh Real Estate Industry, ADHL has maintained its leadership position with consistent growth over the years. The company maintained its growth performance even when the industry experienced a decline in market growth.
Activities of the Company • Real Estate Business in private sector mainly concentrated on land development and construction of apartments. ADHL develops unimproved and undeveloped land and then sell the plot to the people and make profit, and they also construct residential and commercial buildings and sell them to make profit. • In order to accomplish the above task the company proceeds in the following ways. The first task of the company is to find out elite class of society they who are in housing needs. The next task of the company is to collect corporate data of the above identified classes. Generally these data includes the followings. • Income level. • Living style. • Living standard. • Thinking about housing.
Land Procurement policy • Land Procurement policy • Application • Allotment • Payment • Hand Over • Utility Connection • Transfer of ownership • Management • Transfer Cost
Six Steps to remarkable Service • Connect with customer The people of the ADHL always try to be connected with their customers to meet there expectations by providing better quality, flexibility of the larger selection and innovative products. • Discover what they want People of this company are highly concerned to define what the customer wants while they are negotiating with the buyers of apartments and sellers of the land. At this stage, the company also gets the flexibility of getting background information and their perceptions regarding the company and its market position • Know what you can do To increase customer loyalty, the people of the selling department of ADHL spend their considerable time to define what they should do when the customer show his or her positive attitude toward for closing the buying process.
Six Steps to remarkable Service • Do it • Whenever people of the ADHL can understand what the customers want and how they want to close the buying process then they do in accordance of customer responses. • Follow-up It is highly practiced in the ADHL for maximizing its customer feedback because it believes that business is defined by customer relationship • Thank them Having completed the buying process for the apartment buyer and the selling process for the land sellers, the AHDLs selling and purchasing department gives them feedback and ensure them for their expectations and finally congratulate them.
Personal Selling • Personal selling is face to face to selling in which a seller attempt to persuade a buyer to make a purchase. Personal selling is divided into three tasks Order getting Order getters attempt to increase their firm’s sales by selling to new customers or by convincing current customers to buy more of a company’s products. Order taking Order takers are involved in the routine completion of a sales. They complete the sales transaction and mainly deal with the same or similar customers. A sales clerk in a supermarket is an order taker. Support Personnel Do not make any sales but help facilitate the selling function. There are two major types of support personnel: missionary salespeople and technical specialists. A missionary salesperson for a drug company (i.e., a detailer) will visit doctors and try to convince them to use various drugs manufactured by her company.
The Personal Selling Process Step 1: Prospecting and Qualifying: Prospecting, the first step in the personal selling process, focuses on developing a list of potential customers (prospects). Both internal (a company’s own records) and external sources can be used to prospect. Qualifying deals with determining which prospects are most likely to purchase the product. Step 2: Pre approach A good salesperson attempts to know his/her prospect well. You want to know something about the buyer’s company, the buyer’s specific product needs, and what brands are currently being used. The more you know about your prospects, the easier it is to sell to them.
Step 3: Approaching the Customer Cold calls are not the most effective way of approaching customers. Some salespeople spend a great deal of time canvassing an area trying to find prospects willing to listen to their spiel without a prior appointment Step 4: Presentation Step During the presentation step, the salesperson has a vital job. She/he has to tell the prospect the "product story" and highlight the benefits of the product . A good salesperson has to convince prospects that the product is special and will provide important benefits
Step 5: Closing the Sale The salesperson asks the prospect to buy the product. One common approach is to assume that the prospect does want to buy the product and to ask "when you do want delivery?" or "how many do you want. Step 6: Follow-up A good salesperson follows up and ensures that everything went well. By demonstrating that you care about your customers, you will increase the chances that customers will continue to buy from you and recommend you to others.
ADHL Personal Selling Strategy 1.Field force employees: A number of employees are engaged in door to door marketing. They go to the customer’s houses, explain them about projects and request them to come to the office about the real condition of the projects. Generally this is the task of influencing the people to make a purchase decision. 2.In House Marketing Team In house marketing team is the part of the marketing department of the company. Usually they work with the direct customers who come to the office directly for land and office purpose. Different personnel of the in house marketing team co-ordinates with the customers. The personnel explain different aspects of the projects to the customers and also give them answer of questions. However their main motto is to sell their products by giving service.