SUMMER INTERNSHIP REPORT
“A study analysis of residential market through digital marketing through and enhancing the CBRE portal with reference to CBRE.”
“Submitted in the Partial Fulfillment for the Requirement of
Post Graduate Diploma in Management”
Submitted To: Submitted By:
Name of internal Guide: Mallika Methew Name: Piyush Sharma
Designation: Assistant Proff. Roll No:33
Name of External Guide: Shalin Raina Batch: 2017-19
Company: CBRE South Asia Pvt. Ltd.
Designation: Director of Residential India
Description Page No.
Acknowledgement Executive Summary Certificate from Organization, faculty and declaration from student Introduction to topic
Origin & development of the industry.
Growth, present & future of industry.
Defining the concept.
Objective of the project Company Profile
Growth & present strategy
Products & Services
Market profile Analysis & Interpretation Findings & Inferences Recommendations and Conclusion Bibliography
With the immense pleasure I would like to present this report for CBRE South Asia Pvt. Ltd. It has been an enriching experience for me to complete my summer training at CBRE South Asia Pvt. Ltd. Which would not have possible without the goodwill and support of the people around. As a student of JAGANNATH INTERNATIONAL MANAGEMENT SCHOOL, Kalkaji. My heartiest thanks to Mr. Shalin Raina & Mrs. Isha Chopra it would have been impossible for me to complete my work job without their corporation. I would like to express my sincere thanks to all colleagues who helped me during my training program.
Words are insufficient to express my gratitude toward Mr. Shalin Raina (Director, Residential CBRE South Asia Pvt. Ltd.) & Mrs. Isha Chopra (Senior Manager, Digital Marketing, CBRE South Asia Pvt. Ltd.)
I would also like to thank Dr. Jai Batra, Director of JIMS, Kalkaji and Mallika Mathew for providing me an opportunity to be a part of such a reputed organization and complete my summer training.
However I accept the sole responsibility for any possible error of omission and would be extremely grateful to the reader of this project report if they bring such mistakes to my notice.
The title for my project is “A study analysis of residential market through digital marketing through and enhancing the CBRE portal with reference to CBRE.” And it is done in CBRE South Asia Pvt. Ltd., Gurugram.
Summer internship is known to be a student’s first brush in corporate world. This is the time for the student to put words and theories into action. This helps to integrate classroom learning with real life situation. While doing the project students are placed under the guidance of a mentor who serves as manner.
This project report deal with knowledge about the consumer behavior that Influence the consumers to buy the residence properties and generating a lead.
The objective of the study is to understand the consumer’s budget and their buying behavior,
Analyzing the scope of development in digital market, what are the major factors that affect the most while buying a property, I also learned about the valuation of the properties and at last what extra CBRE’s competitors are providing to its consumer.
The project is carried out depending on the various data’s which are obtained from secondary sources that is the website of the company’s book.
This study was carried to generate a lead with consumers. So that they know factor which are responsible for buying a residency property.
The objective of the project was analysis of the factor that effect buying decision. Hence it is required data to be collected from the people who are potential buyer and seller of residence property. The study highlighted the features like past performance, present performance, infrastructure, Location, profit percent, economic growth.
Source: – IBEF.org
1.0 INDUSTRY SCENARIO
1.1 INDIA REAL ESTATE
The real estate sector is one of the most globally recognized sectors. In India, real estate is the second largest employer after agriculture and is slated to grow at 30 per cent over the next decade. The real estate sector comprises four sub sectors – housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth of the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in both the short term and the long term. Bangalore is expected to be the most favored property investment destination for NRIs, followed by Delhi, Ahmadabad, Pune, Chennai, Goa, and Dehradun.
India’s rank in the Global House Price Index has jumped 13* spots to reach the ninth position among 55 international markets, on the back of increasing prices in mainstream residential sector.
Source: – IBEF.org
1.2 LOCAL SCENARIO
Despite being hit by the overall slowdown in the real estate market and seeing price corrections up to 10% in most areas, Delhi-NCR continues to be attractive to end-users and investors. Being the national capital, Delhi attracts migrants from all across the country.
In fact, as per the Economic Survey of 2017, Delhi, Gurugram, Noida and Greater Noida saw the maximum influx of migrants between 2001 and 2011. Obviously, there is a dire need to fulfill the housing needs of these migrants.
As per ANAROCK data, the housing supply in Delhi over the last two years has been fairly low as compared to its counterparts – Gurugram and Noida. This is essentially due to demand-supply mismatch; there is massive demand for affordable housing in the city, while property prices in most pockets of the city have skyrocketed.
419100085725001.3 About the Company :
Info About the Company
Company Name : CBRE (CB Richard Ellis)
Type : Public Company
Trade as : NYSE: CBRE (Class A)
Industry : Real Estate
Founded : August 27, 1906 (112 Years Ago)
Area Served : World Wide
Product : Commercial & Residence Real Estate
Number of Employees : 75,000 (2016)
CBRE Group, Inc. is the largest commercial real estate services and investment firm in the world. It is based in Los Angeles, California and operates more than 450 offices worldwide and has clients in more than 100 countries. The company is ranked #207 on the Fortune 500 and has been included in the Fortune 500 in every year since 2008.The Company receives business from 90 of the top 100 companies on the Fortune 100.
Source: Forbes & CBRE Homes
2.0 Company History :
The firm CBRE has setup its roots in San Francisco in 1906. By 1940s the firm grew and become one of the largest Real Estate in western United States. In 1960s – 70s, the company went public and open its wings in both its service portfolio and geographic coverage to become a full-service provider with growing presence throughout in United States.
The next major milestone occurred in 1989 when employees and others acquired the company’s operations from Sears to form CB Commercial. Throughout the 1990s, CB Commercial moved aggressively to accelerate growth and cultivate global capabilities to meet client demands. The company acquired leading firms in investment management (West mark Realty Advisors—now CBRE Global Investors, 1995), mortgage banking (L.J. Melody ; Company, 1996) and property and corporate facilities management, as well as capital markets and investment management (Koll Real Estate Services, 1997).
Soon thereafter, CBRE announced the acquisition of London-based Hillier Parker May ; Rowden, one of the top property services firms operating in the United Kingdom. With this development, CBRE became the first real estate services firm with a platform to deliver integrated real estate services—through one commonly owned, commonly managed company.
In late 2006, CBRE create a real estate services firm with unprecedented scale, scope and service offerings. In particular, CBRE became the global leader in the provision of outsourcing services to major occupiers, including corporations, healthcare organizations and public sector institutions. The company has been consistently ranked the #1 provider of real estate outsourcing services by the International Association of Outsourcing Professionals.
In 2011, CBRE attained leadership in another key business segment acquiring the majority of the real estate investment management business from Netherlands-based ING Group, The Company also changed its name to CBRE Group Inc. that year in order to better align its identity with its industry-leading brand.
In 2013, CBRE significantly enhanced its occupier outsourcing services platform in Europe with the acquisition of Norland Managed Services Ltd, the leading provider of building technical engineering services in the U.K. and Ireland.
In 2015, CBRE acquired Global Workplace Solutions (GWS) from Johnson Controls. GWS is a leading provider of integrated facilities management solutions on a global basis. Total revenue exceeded $10 billion for the first time. In addition, CBRE was ranked #2 (out of 500 companies) in financial growth and performance by Barron’s.
In 2017, both Forbes and Fortune named CBRE one of America’s best employers for diversity and inclusion, and Euro money voted CBRE the global real estate advisor of the year for the sixth consecutive year.
In 2018, Fortune named CBRE one of the Most Admired companies in the real estate sector for the sixth consecutive year and The Lipsey Company ranked CBRE the top real estate brand for the 17th year in a row. In addition, CBRE changed its symbol on the New York Stock Exchange to “CBRE.” CBRE ascends to #207 in the Fortune 500.
Source: CBRE Homes
2.2 Products/Services :
Advisory and Transaction Services
Advisory and Transaction Services | Occupier (Source: CBRE HOMES)
Advisory and Transaction Services | Investor
(Source: CBRE HOMES)
2.3 As Investors :
Delivering the industry’s most powerful service platform, they provide real estate investors with a proven, yet bespoke marketing and leasing strategy that delivers an exceptional outcome aligned with our clients’ investment objectives. Their experienced and best-in-market professionals are experts in developing tailored, comprehensive strategies to create value across all commercial real estate asset classes – office, industrial and retail. CBRE’s proprietary relationships with global occupiers (89 of the Fortune 100 for example) enable their professionals to create and drive value for their investor clients that are distinctive in the marketplace.
Recognized as the number #1 Brokerage firm worldwide by the National Real Estate Investor, CBRE has 50% more transaction activity than our closest competitor. And we leverage the proprietary market intelligence that comes with this activity – along with the industry’s leading global research and consulting capability – to position today’s real estate for tomorrow’s demand.
2.4 As Occupier :
CBRE creates opportunities that meet their clients’ most demanding real estate challenges. With proprietary market intelligence, a team passionately focused on creating exceptional outcomes and the industry’s most powerful service offering, they deliver the complete spectrum of strategic advisory and transaction services across all property types.
2.5 Asset Services
____________Global scale. Local service. Tangible results.___________
With a network across the Americas, Europe, Africa, the Middle East (EMEA) and Asia Pacific, CBRE leverages global best practices and real-time data to improve building operational performance. Their team collaborates across a complete spectrum of integrated services to help clients to achieve optimal asset and portfolio management. They strategically position assets in the most diverse markets, through the most challenging market conditions—making significant investments each year in their service platform to deliver cutting-edge solutions. Continuing education helps their employees advance their industry knowledge, allowing them to attract and retain top talent. And, we employ the highest industry standards in all of their processes to ensure regulatory compliance, consistency and service excellence.
2.6 Valuation ; Advisory Services
CBRE provides comprehensive valuation, advisory and consulting services for real estate owners, investors and lenders, combining our specialized expertise and premier technologies to deliver industry-leading valuation reports and analysis.
2.7 Development Services (Trammell Crow Company)
At Trammell Crow Company (TCC), their expertise, industry leadership and the backing of CBRE have made them one of the largest commercial real estate developer in the U.S. with over $6.7 billion in active projects.
For nearly 70 years, TCC has been providing a full range of development and investment services to commercial real estate occupiers and investors. As a merchant builder, we create value through site identification, by procuring optimal entitlements, and directing the design, construction, and leasing of assets positioned to meet the needs of the market or user.
2.8 Investment Management (CBRE Global Investors)
They provide a range of innovative solutions that strive to optimize investment returns, taking into account the risk tolerances of their institutional investor clients.
2.9 Capital Markets
CBRE Capital Markets provides local market expertise and the intelligence necessary for success. As the worldwide industry solutions leader, they offer premier advisory services. Through real estate investment sales, debt and structured finance and investment banking, they deliver real competitive advantage and superior returns on client’s real estate investments.
In 2016, our combined worldwide property sales and mortgage volume totaled $400 billion, helping maximize profitability for their clients.
2.9.1 Organization Structure :
2.9.2 Future Plan :
CBRE FAST FORWARD 2030 “The Future Of Work & Workplace.”
The ideas, trends, and behaviors that will shape work and workplace in 2030 are already perceptible today. Some are clearly evident whilst others are emerging quietly around us. In this study, 220 experts, business leaders and young people from Asia, Europe, and North America shared their views on how these trends will impact business, evolve work practices and continue to revolutionize how, when, and where work happens.
In 2030, the many p?laces where we work and live will be diverse and entwined: humanity, creativity, culture, and community will be integral. The research demonstrates that significant changes are happening – across the world. Not only is business changing, but people are reflecting on the very meaning of work in their lives and how to be a part of vibrant virtual and physical communities that bring joy and high quality of experience to their lives.
2.9.3 Competition :
1. JLL (Jones Lang LaSalle)
2. Kennedy – Wilson holdings
3. E House holding
CB Richard Ellis Group is a commercial real estate services firm. One of CBRE’s main competitors in the real estate management and development industry is Jones Lang LaSalle (JLL). Other competitors in the financials sector include: Kennedy-Wilson Holdings (KW), HFF (HF), and E-House (China) Holdings (EJ).
266700-180975As compare to its competitors CBRE and American Reality Investors, Inc. these both company is gaining profit in NYSE. But its main competitions is with JLL Group as in India these both are playing good role in Indian Market.
2.9.4 Corporate Responsibility :
The firm works on the principle of sustainable success that can be only built on a foundation of responsible business practices, and that everyone gains an advantage by subscribing to the values of RISE (Respect, Integrity, Service and Excellence).
As the world’s largest commercial real estate services firm, they recognize the impact their communities, clients, employees and stakeholders. By influencing positive outcomes in every phase of our business, CBRE helps to build healthier, more vibrant communities that connect to each other and create the economic vitality required to address important environmental and social issues.
Its area of impact
3.0 Digital Marketing :righttop
Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium.
Digital marketing’s development since the 1990s and 2000s has changed the way brands and businesses use technology for marketing. As digital platforms are increasingly incorporated into marketing plans and everyday life, and as people use digital devices instead of visiting physical shops, digital marketing campaigns are becoming more prevalent and efficient.
Digital marketing methods such as search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing,6 e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e–books, and optical disks and games are becoming more common in our advancing technology. In fact, digital marketing now extends to non-Internet channels that provide digital media, such as mobile phones (SMS and MMS), callback, and on-hold mobile ring tones. In essence, this extension to non-Internet channels helps to differentiate digital marketing from online marketing, another catch-all term for the marketing methods mentioned above, which strictly occur online.
Use in the digital era :
There are a number of ways brands can use digital marketing to benefit their marketing efforts. The use of digital marketing in the digital era not only allows for brands to market their products and services, but also allows for online customer support through 24/7 services to make customers feel supported and valued. The use of social media interaction allows brands to receive both positive and negative feedback from their customers as well as determining what media platforms work well for them. As such, digital marketing has become an increased advantage for brands and businesses. It is now common for consumers to post feedback online through social media sources, blogs and websites on their experience with a product or brand. It has become increasingly popular for businesses to use and encourage these conversations through their social media channels to have direct contact with the customers and manage the feedback they receive appropriately.
Word of mouth communications and peer-to-peer dialogue often have a greater effect on customers, since they are not sent directly from the company and are therefore not planned. Customers are more likely to trust other customers’ experiences. Examples can be that social media users share food products and meal experiences highlighting certain brands and franchises. This was noted in a study on Instagram, where researchers observed that adolescent Instagram users’ posted images of food-related experiences within their social networks, providing free advertising for the products.
It is increasingly advantageous for companies to use social media platforms to connect with their customers and create these dialogues and discussions. The potential reach of social media is indicated by the fact that in 2015, each month the Facebook app had more than 126 million average unique users and YouTube had over 97 million average unique users.
Brand awareness :
Ease of access
A key objective is engaging digital marketing customers and allowing them to interact with the brand through servicing and delivery of digital media. Information is easy to access at a fast rate through the use of digital communications. Users with access to the Internet can use many digital mediums, such as Facebook, YouTube, Forums, and Email etc. Through Digital communications it creates a Multi-communication channel where information can be quickly exchanged around the world by anyone without any regard to whom they are. Social segregation plays no part through social mediums due to lack of face to face communication and information being wide spread instead to a selective audience. This interactive nature allows consumers create conversation in which the targeted audience is able to ask questions about the brand and get familiar with it which traditional forms of Marketing may not offer.
By using Internet platforms, businesses can create competitive advantage through various means. To reach the maximum potential of digital marketing, firms use social media as its main tool to create a channel of information. Through this a business can create a system in which they are able to pinpoint behavioral patterns of clients and feedback on their needs. This means of content has shown to have a larger impingement on those who have a long-standing relationship with the firm and with consumers who are relatively active social media users. Relative to this, creating a social media page will further increase relation quality between new consumers and existing consumers as well as consistent brand reinforcement therefore improving brand awareness resulting in a possible rise for consumers up the Brand Awareness Pyramid. Although there may be inconstancy with product images; maintaining a successful social media presence requires a business to be consistent in interactions through creating a two way feed of information; firms consider their content based on the feedback received through this channel, this is a result of the environment being dynamic due to the global nature of the internet. Effective use of digital marketing can result in relatively lowered costs in relation to traditional means of marketing; Lowered external service costs, advertising costs, promotion costs, processing costs, interface design costs and control costs.
Brand awareness has been proven to work with more effectiveness in countries that are high in uncertainty avoidance, also these countries that have uncertainty avoidance; social media marketing works effectively. Yet brands must be careful not to be excessive on the use of this type of marketing, as well as solely relying on it as it may have implications that could negatively harness their image. Brands that represent themselves in an anthropomorphizing manner are more likely to succeed in situations where a brand is marketing to this demographic. “Since social media use can enhance the knowledge of the brand and thus decrease the uncertainty, it is possible that people with high uncertainty avoidance, such as the French, will particularly appreciate the high social media interaction with an anthropomorphized brand.” Moreover, digital platform provides an ease to the brand and its customers to interact directly and exchange their motives virtually.
2.9.6 Scope Of Digital Marketing :
Digital Marketing industry is booming not just in India but all parts of the world. The year 2016 took the industry by surprise with over 1.5 lakh job opportunities in the Digital Marketing domain. Well, the following was a bigger surprise when only the first quarter of 2017 marked for 8 lakh job opportunities.
The surveys conducted by several forums have predicted this number to grow with Digitalization in the nation. Our Prime Minister has been actively promoting the idea of Digital India. PM Modi’s digital India campaign gained massive popularity. The initiative of Government of India is aimed at providing easy services to its natives.
Now imagine when a nation’s government is promoting the digital interaction, what do you think will be the Digital Marketing scope in that nation.
It is easy :
Accessing the digital media is no rocket science. It is a piece of cake. The newest of users also take a maximum of few days to learn how to operate the digital media. This is purely because it is designed in such a user-friendly manner that its primary objective is to ease the operations for human beings, the reason why our mobile phones are now called smartphones.
Eco- friendly :
Being responsible citizens of the world it is important that we operate through mediums that do not harm our atmosphere cause being ignorant to the atmosphere will only have an adverse effect on us. The digital media additionally cuts down on paper usage. We operate the digital media over the internet and thus can save ourselves a lot of hustle in terms of hard work, long process of work and all the other drawbacks of using the traditional Medias.
Fastest Reach :
Previously radio was considered to have the fastest reach because of the live communication feature. Radio is still the medium with the widest reach but the new media is gradually overshadowing the most popular medias like a newspaper, television, etc.
Today, you post anything online and it gets trending within a few hours. This is because the number of users of the digital media are touching heights with each passing day.
The man kind is used to being influenced by whatever is trending the most. The virtual media has not fallen short of influencing the masses of its own new style. The social media occupying the most space has infused itself so well in the lives of the users that it is like the early morning newspaper that is a must. Only this newspaper is carried forward all day long (pun intended).
Latest developments and strategies :
One of the major changes that occurred in traditional marketing was the “emergence of digital marketing” (Patrutiu Baltes, Loredana, 2015), this led to the reinvention of marketing strategies in order to adapt to this major change in traditional marketing (Patrutiu Baltes, Loredana, 2015) .
As digital marketing is dependent on technology which is ever-evolving and fast-changing, the same features should be expected from digital marketing developments and strategies. This portion is an attempt to qualify or segregate the notable highlights existing and being used as of press time.
Segmentation: more focus has been placed on segmentation within digital marketing, in order to target specific markets in both business-to-business and business-to-consumer sectors.
Influencer marketing: Important nodes are identified within related communities, known as influencers. This is becoming an important concept in digital targeting. It is possible to reach influencers via paid advertising, such as Facebook Advertising or Google Adwords campaigns, or through sophisticated sCRM (social customer relationship management) software, such as SAP C4C, Microsoft Dynamics, Sage CRM and Salesforce CRM. Many universities now focus, at Masters level, on engagement strategies for influencers.
To summarize, Pull digital marketing is characterized by consumers actively seeking marketing content while Push digital marketing occurs when marketers send messages without that content being actively sought by the recipients.
Online behavioral advertising is the practice of collecting information about a user’s online activity over time, “on a particular device and across different, unrelated websites, in order to deliver advertisements tailored to that user’s interests and preferences
Collaborative Environment : A collaborative environment can be set up between the organization, the technology service provider, and the digital agencies to optimize effort, resource sharing, reusability and communications. Additionally, organizations are inviting their customers to help them better understand how to service them. This source of data is called User Generated Content. Much of this is acquired via company websites where the organization invites people to share ideas that are then evaluated by other users of the site. The most popular ideas are evaluated and implemented in some form. Using this method of acquiring data and developing new products can foster the organizations relationship with their customer as well as spawn ideas that would otherwise be overlooked. UGC is low-cost advertising as it is directly from the consumers and can save advertising costs for the organization.
Data-driven advertising : Users generate a lot of data in every step they take on the path of customer journey and Brands can now use that data to activate their known audience with data-driven programmatic media buying. Without exposing customers’ privacy, users’ Data can be collected from digital channels (e.g.: when customer visits a website, reads an e-mail, or launches and interact with brand’s mobile app), brands can also collect data from real world customer interactions, such as brick and mortar stores visits and from CRM and Sales engines datasets. Also known as People-based marketing or addressable media, Data-driven advertising is empowering brands to find their loyal customers in their audience and deliver in real time a much more personal communication, highly relevant to each customers’ moment and actions.
An important consideration today while deciding on a strategy is that the digital tools have democratized the promotional landscape.
5. Remarketing: Remarketing plays a major role in digital marketing. This tactic allows marketers to publish targeted ads in front of an interest category or a defined audience, generally called searchers in web speak, they have either searched for particular products or services or visited a website for some purpose.
6. Game advertising: Game ads are advertisements that exist within computer or video games. One of the most common examples of in-game advertising is billboards appearing in sports games. In-game ads also might appear as brand-name products like guns, cars, or clothing that exist as gaming status symbols.
The new digital era has enabled brands to selectively target their customers that may potentially be interested in their brand or based on previous browsing interests. Businesses can now use social media to select the age range, location, gender and interests of whom they would like their targeted post to be seen by. Furthermore, based on a customer’s recent search history they can be ‘followed’ on the internet so they see advertisements from similar brands, products and services, This allows businesses to target the specific customers that they know and feel will most benefit from their product or service, something that had limited capabilities up until the digital era.
Why Digital Marketing is Important :
34% of the businesses already had an integrated digital marketing plan in 2016
72% marketers believe that traditional marketing is no longer sufficient and Digital Marketing will make their company revenue to be increased by 30% by the end of 2017
More than 80% of businesses will increase their digital marketing spending plan that may go beyond the IT budget.
Why Digital Marketing is important for your business :
You need to incorporate befitting Digital Marketing Strategy in your business module in an attempt to be an active part of exceptionally pervasive and equally lucrative online market place.
Since DM is not just a quickly developing power in today’s world of marketing, it is set to be the eventual fate of marketing, and it seems that soon digital marketing will surpass all the traditional marketing maneuvers.
Advantages and limitations:
The whole idea of digital marketing can be a very important aspect in the overall communication between the consumer and the organisation. This is due to digital marketing being able to reach vast numbers of potential consumers at one time.
Another advantage of digital marketing is that consumers are exposed to the brand and the product that is being advertised directly. To clarify the advertisement is easy to access as well it can be accessed any time any place.
However, with digital marketing there are some setbacks to this type of strategy. One major setback that is identified, is that Digital marketing is highly dependent on the internet. This can be considered as a setback because the internet may not be accessible in certain areas or consumers may have poor internet connection.
As well as digital marketing being highly dependent on the Internet is that it is subject to a lot of clutter, so it marketers may find it hard to make their advertisements stand out, as well as get consumers to start conversations about an organisations brand image or products.
As digital marketing continues to grow and develop, brands take great advantage of using technology and the Internet as a successful way to communicate with its clients and allows them to increase the reach of who they can interact with and how they go about doing so,. There are however disadvantages that are not commonly looked into due to how much a business relies on it. It is important for marketers to take into consideration both advantages and disadvantages of digital marketing when considering their marketing strategy and business goals.
An advantage of digital marketing is that the reach is so large that there are no limitations on the geographical reach it can have. This allows companies to become international and expand their customer reach to other countries other than the country it is based or originates from.
As mentioned earlier, technology and the internet allows for 24 hours a day, 7 days a week service for customers as well as enabling them to shop online at any hour of that day or night, not just when the shops are over and across the whole world. This is a huge advantage for retailers to use it and direct customers from the store to its online store. It has also opened up an opportunity for companies to only be online based rather than having an outlet or store due to the popularity and capabilities of digital marketing.
Another advantage is that digital marketing is easy to be measured allowing businesses to know the reach that their marketing is making, whether the digital marketing is working or not and the amount of activity and conversation that is involved.
With brands using the Internet space to reach their target customers; digital marketing has become a beneficial career option as well. At present, companies are more into hiring individuals familiar in implementing digital marketing strategies and this has led the stream to become a preferred choice amongst individuals inspiring institutes to come up and offer professional courses in Digital Marketing.
A disadvantage of digital advertising is the large amount of competing goods and services that are also using the same digital marketing strategies. For example, when someone searches for a specific product from a specific company online, if a similar company uses targeted advertising online then they can appear on the customer’s home page, allowing the customer to look at alternative options for a cheaper price or better quality of the same product or a quicker way of finding what they want online.
Some companies can be portrayed by customers negatively as some consumers lack trust online due to the amount of advertising that appears on websites and social media that can be considered frauds. This can affect their image and reputation and make them out to look like a dishonest brand.
Another disadvantage is that even an individual or small group of people can harm image of an established brand. For instance Dopplegnager is a term that is used to disapprove an image about a certain brand that is spread by anti-brand activists, bloggers, and opinion leaders. The word Doppelganger is a combination of two German words Doppel (double) and Ganger (walker), thus it means double walker or as in English it is said alter ego. Generally brand creates images for itself to emotionally appeal to their customers. However some would disagree with this image and make alterations to this image and present in funny or cynical way, hence distorting the brand image, hence creating a Doppelganger image, blog or content (Rindfleisch, 2016).
Two other practical limitations can be seen in the case of digital marketing. One,digital marketing is useful for specific categories of products,meaning only consumer goods can be propagated through digital channels.Industrial goods and pharmaceutical products can not be marketed through digital channels. Secondly, digital marketing disseminates only the information to the prospects most of whom do not have the purchasing authority/power. And hence the reflection of digital marketing into real sales volume is skeptical
Analysis and Interpretation
Working at CBRE for just 2 months was like my dreams come true. The atmosphere was awesome with supporting collogues who treats us as new joinees. They also look after us at every step to ensure that we aren’t facing any problem. Even the director of the CBRE Residential India (Mr. Shalin Raina) is such a wonderful person he never ignored us he always ask us whether everything is going well or not.
My mentor Mrs. Isha Chopra always supported me in my daily tasks. She was the one under whom I was working. She teaches me all the important factors which was lacking in my directory to be updated and many short ways to do the lengthy things in digital marketing.
4.1 Objectives :
Discovered 100 portals which were showing Google AdWords, so that it can helped CBRE to allocate the Ads Campaigning which will help CBRE’s customers to get informed.
Get the detailed knowledge about usage and importance of Google AdWords for any company and why it is required in terms of promotions.
To learned about SEO Elements for the portal and why it is so important and trending these days.
To Collect Information of Noida and Greater Noida Societies and valuate it with residential team & Make PPT on Residence societies in Noida.
Audited CBRE Homes portal and find all the lacks and problems with the portal and give the suggestions to the digital marketing team what more we can do with the portal as well as new widgets for the portal.
Learned about Google Analytics and its importance and also learned the real time scanning about the portal which helps in lead generation for the company.
Valuate the properties of South Delhi (Kalkaji, New Friends colony, Greater Kailash etc.) with valuation team.
Intact with CBRE’s customers via. Calling to Hyderabad ; Pune region and help market valuation team in lead generating.
Learned about Google Algorithm with the help of digital marketing team.
Learned about different types of URL (Uniform Resource Locator) with SEO (Search Engine optimization) and how to place your URL at top of the searched options.
I also digital marketing team in auditing of CBRE Homes Portal as well as its competitors Portal and I was asked to find the extra services and features what its competitors are providing to its customers
Digital marketing team asked me to make my own blog and was told to apply all the SEO Elements on that blog.
Take 2 days lecture of advance Excel with one of the mentor who help me in applying the H-lookup and V-lookup. Even they took a test for the same where they gave me a sample excel sheet with lots of data and ask me to apply H-lookup and V-lookup.., etc.,.
5.0 Findings :
While working with CBRE for two months makes me more ritual towards it. I got to know every nerves in just couple of weeks. Talking about findings as I was assign to have a hawk eye on CBRE’s competitors and go through every detailed features which was provided by competitors. I have to compare all the extra features and services which were provided by its competitors such as – mobile applications, feedback forum, some minor faults in portals, creative ways to present website data etc.
5.1 Limitation :
Working at CBRE was a memorable experience for me and it could not be possible without the efforts of my mentors. Though we had a lot of work load but there was limitation for interns for the use of internet so we had to use our own internet. As there was problem with mobile networks too, the work could not be done efficiently .There was not proper sitting plan for the interns. All the interns had to vacate the room if there was any meeting of the permanent employees. We had to sit in the Bangalore’s meeting room for the time. Since there is no provision of Pre placement offer, so the internship could just be a mere experience rather than learning something for further work. It would me more easy to do the work in limited time but due to not having proper internet services it was difficult. Recommendation ; Conclusion:
I found that CBRE has good and innovative plans, new and growing infrastructure, latest technologies, changes done in design of website and enhancement of the website with new updates. Working here for two months is an unforgettable experience for me. There were lots of stuff to learn which will helped me to achieve the targets in given time. Working here, taught me to adapt corporate environment. This makes CBRE one of the best real estate online website in India. It is giving competition to many other real estate’s Companies such as: JLL, Kennedy – Wilson holdings, E House holding, etc. and taking their place in this internet world. So, CBRE is an efficient and a good Company to go through, as it is well established and have many properties listed on it daily. Thus, it can be concluded that CBRE provide a wealth of knowledge and experience, along with hard work to achieve a pleasant and enjoyable real estate.
In the end, I would like to thanks my internal and external mentors for giving me support to complete my training.
In February 2018, DLF bought 11.76 acres of land for Rs 15 billion (US$ 231.7 million) for its expansion in Gurugram, Haryana.