A Project Report

On

“A STUDY ON CHANNEL PARTNER BEHAVIOUR WITH REFERENCE

TO REAL ESTATE INDUSTRY”

Undertaken at

Project Report Submitted To

Balaji Institute of Modern Management (BIMM), Pune

In

Partial Fulfilment of the PGDM (Sales and Marketing)

Curriculum
For Academic Year 2016-2018

By:

Shefali Rochani
(BIMM-1618235)

Under the supervision of

Mr. Samit Hemnaney
General Manager
Lodha Belmondo, Pune

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 Declaration

I, Shefali Rochani, Student of BIMM-Balaji Institute of Modern Management,

Pune, Hearby declare that this project entitled “A Study on Channel Partners
Behaviour with reference to Real Estate Industry.” for LODHA GROUP is a
bonafide record of work done by me during the course of summer internship
project work of PGDM program and all contents and facts are prepared and
presented by me without any bias.

I also declare that it has not previously formed the basis for the award to me for
any degree/diploma associate ship, fellowship or other similar title, of any
Institute/Society.

Place: Pune

Date: 30th June 2017

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 Acknowledgement

It gives me a great pleasure to express my deep sense of gratitude and indebtedness

to LODHA GROUP, Pune for following me to undergo summer project program
in their reputed organization.

I owe a great debt to my mentor Ms. Sanskriti Dhumal who in spite of their
pressing duties and responsibilities has shown a genuine interest in providing
necessary guidance regarding concept of the project and rendered support at all
stages of the project.

I would like to convey my sincere thanks to Mrs. Archana Shrivastava (Director-

BIMM) and Mr. Darshan who helped me and motivated me whenever required.

Last but not the least I would like to thank my institution and my faculty members,
without whom this project wouldn’t have been a distant reality.

Regards,

Shefali Rochani

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 Certificate

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 Executive Summary

Today’s growing business world has continuously changing demands. Any

organization if wants to compete and succeed, has to identify the needs of its
customers, form and modify its strategies accordingly and has to give highest
customer delivered value. Today’s marketing management demands high brand
awareness and best product quality. To sustain in the competitive market
organizations need to find ways to ‘connect’ with the clients. So the builders and
real estate developers quickly adopted the innovative concept of channelizing the
estate business.

The project entitled “Study on Channel Partners behaviour with reference to

Real Estate Industry.” is aimed at evaluating the factors affecting Channel
Partners behaviour while associating with a developer, Motivation level by various
Incentive program, Identifying importance of the aspects that contributes in their
success.

The project was focused on the study and analysis of data collected from all those
Channel Partners who are already registered with Lodha Belmondo. The purpose
was to evaluate the level of performance delivered to Channel Partners by Lodha
Belmondo, Overall satisfaction level of Channel Partners and to examine their
perception towards association with Lodha Belmondo.

The collected data was from Pune region, interacting with the Channel Partners by
using survey method in the form of Questionnaire. The data acquired was analysed
by using tools in SPSS and excel.

Finally after analyzing the feedback from Channel partners, it is concluded that
their satisfaction is affected by the variables and had impact on their success.
Therefore Lodha should fill the Gap between Channel Partner expectation and
perception in following variables:

1. Improve Incentive Programs

2. Management of Leads, prospects and conversions should be improved.

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 Table of Contents

Chapter No Topic Page No

1 Introduction

A. Introduction to Industry 7
B. Introduction to Company 9
C. Introduction to Product 14
D. SWOT Analysis 24
E. Objective 26
F. Research Methodology 27
G. Limitations 28

2 Literature Review 29
3 Data Analysis and Interpretations 33
4 Findings 55
5 Summary and Suggestions 56
6 Bibliography 57
Annexure 58

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 CHAPTER 1

Introduction

A. Industry scenario

INDIAN REAL ESTATE INDUSTRY

The Indian real estate sector is one of the most globally recognized sectors. In the
country, it is the second largest employer after agriculture and is slated to grow at
30 per cent over the next decade. It 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.

According to a study by ICRA, 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 the near future, as a survey by an industry body has revealed
a 35 per cent surge in the number of enquiries with property dealers.

The Indian real estate market size is expected to touch US$180 billion by 2020.
The housing sector alone contributes 5-6 per cent to the country's gross domestic
product (GDP). Also, in the period FY08-20, the market size of this sector is
expected to increase at a compound annual growth rate (CAGR) of 11.2 per cent.
Retail, hospitality and commercial real estate are also growing significantly,
providing the much-needed infrastructure for India's growing needs.

The Indian real estate sector has witnessed high growth in recent times with the
rise in demand for office as well as residential spaces. According to data released
by Department of Industrial Policy and Promotion (DIPP), the construction
development sector in India has received Foreign Direct Investment (FDI) equity
inflows to the tune of US$ 24.28 billion in the period April 2000-December 2016.

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To regulate the real estate sector, the government has come up with the idea of
Real Estate Regulatory Authority (RERA) Bill which is expected to help buyers.
RERA is supposed to protect the interest of the homebuyer and ensure timely
delivery of projects. Real Estate Regulatory Authority (RERA) Bill was introduced
in 2013 and finally the bill got approved in March last year. Although RERA is a
central law, its implementation will depend on state governments, as real estate is a
state subject. Maharashtra government had approved the Real Estate (Regulation
and Development) Act (RERA) and it came to affect from June 15.

Lodha said sales were affected during November 2016 to January 2017 period
because of poor demand post demonetisation. Their new sales bookings grew by
30 per cent last fiscal at around Rs.8300-8500 crore. Out of this, about Rs.7000
crore sales were from Indian market and rest from London where they launched
their first project.

Real estate developer Lodha Group said it had achieved sales of over Rs.1200
crore in March 2017, its strongest monthly sales performance ever. The company
said it had surpassed its earlier benchmark of Rs.800 crore recorded last month, in
February 2017. Lodha Group has achieved combined sales of Rs.2000 crore for the
months of February and March, reflecting market leadership and growth of the real
estate sector.

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 B. Brief Introduction to the Company

THE LODHA GROUP

Established in 1980, privately held Lodha Group is India's No 1 real estate

developer and amongst the world’s select multinational real estate developers with
presence in India and the United Kingdom.

The Group is currently developing an estimated 43 million sq ft of prime real

estate with the largest land reserves in MMR, and has 28 ongoing projects across
London, Mumbai, Pune and Hyderabad.

The company has several landmark developments to its credit including World
One - the world's tallest residential tower, and Palava City - the largest private
development in the world. The company has brought some of the top global names
including Armani/Casa, Trump, Philip Starck, Jade Jagger, Greg Norman and Pei
Cobb Freed to India. It has recorded the biggest land deal in India till date, buying
a plot for INR 4,053 Cr from the Mumbai Metropolitan Region Development
Authority (MMRDA) in 2010, where it is developing New Cuffe Parade, a world-
class mixed use development set to become the new city centre of Mumbai.

Lodha Group is one of the largest employers in Mumbai with over 3,800 direct
associates and over 25,000 workmen at its sites. It has the largest technical
manpower in RE and comprising over 1,800 dedicated construction management
personnel.

Pioneering new trends in the market, the Group introduced CASA by Lodha,
offering the mid-income consumer luxury homes within easy reach. The Group
also introduced the concept of branded office spaces, with offerings at every level,
from world-class corporate offices and large-scale office campuses to signature
boutique offices for growing businesses. The Group's tremendous success has been
marked by financial investments from the finest global investors, including JP
Morgan, Deutsche Bank, HDFC Ventures and ICICI Ventu

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 1 . RECENTLY COMPLETED PROJECTS:

 Lodha Costiera, Napean Sea Road

 Lodha's Chateau Paradis, Worli Seaface
 Lodha Aria, East Parel
 Lodha Grandeur, Prabhadevi
 Lodha Palazzo, JVPD Scheme, Juhu
 Lodha Paradise, Thane
 Lodha Goldcrest, Lonavala
 Lodha Imperia, Bhandup
 Lodha One, JVPD Scheme, Juhu
 Lodha Aurum, Kanjurmarg
 Lodha Luxuria, Thane
 Casa Bella, Palava
 Casa Univis, Thane
 Casa Ultima, Thane
 Casa Essenza, Dahisar
 Casa Royale, Thane
 Lodha Excelus
 iThink Thane
 iThink Kanjur
 Supremus Worli naka
 Boulevard

2. ONGOING PROJECT: OFFICE SPACES:

 Supremus, Powai
 Supremus, Upper Worli
 Supremus, Kanjurmarg
 Supremus, Thane

3. ONGOING PROJECT: RESIDENCES:

 Lodha Bellissimo, Mahalaxmi

 Lodha Primero, Mahalaxmi
 World One, Upper Worli
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 World Crest, Upper Worli
 Lodha Aurum Grande, Kanjurmarg
 Lodha Aristo, Thane
 Lodha Aqua, Dahisar
 Lodha Golflinks, Palava
 Lodha Bellezza, Hyderabad
 Casa Bella Gold, Palava
 Casa Rio, Palava
 Casa Rio Gold, Palava
 Casa Paradiso, Hyderabad

4. UPCOMING PROJECTS:

 Apartments at Walkeshwar, Prabhadevi, Andheri, Powai and Thane

 Bungalows at Palava and Pune

5. VISION AND MISSION

The Lodha Group seeks to build a better life for its customers by leveraging its
core strengths - the 5 Ls of Leadership, Luxury, Lifestyle, Location and Legacy -
to create landmarks of exemplary quality and design that benchmark the highest
standards of international living.

Leadership
The company believes in Leadership through Innovation and has time and again
set new benchmarks for the real estate industry with a series of 'firsts' to its credit.

 One of the first 'By Invitation Only' project in Mumbai

 Among the first few to introduce the concept of 'Full Cheque' payment - in 1985
 One of the first to develop Individual Bungalow Scheme concept in Mumbai's
suburbs: 'Green Park'
 Among the first Customer Reward Program in Indian Real Estate: The Paradise
Pleasure Points Program
 One of the first to offer 'Sky Garden'

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 Among the first to offer biometric fingerprint access control and motion detector
sensors for security
 One of the first to offer complete 'Home Automation Systems' with cell phone
operated appliances

Legacy
Mumbai is fast emerging as a world-class city, modeling itself on the lines of
Tokyo and Shanghai. The Lodha Group is in its own way contributing to this
mission. The Group has created a legacy for generations to come by creating
architectural landmarks, delivering luxury lifestyles through innovative solutions,
developing locations and setting high quality standards for itself and the industry at
large.

Lifestyle

The company has always endeavored to make a qualitative difference to the

lifestyles of its discerning customers by enhancing the quality of living, recreation
and work areas, to new levels of excellence.

 Exclusivity & Privacy

 Nature at your doorstep
 Every convenience at your fingertips
 Weekend Homes
 Great Work Environment

Location

While choosing a location or site for development, The Lodha Group considers
several factors such as connectivity of the area, its proximity to railway stations,
highways, business hubs and airports, the infrastructure support, the views it
affords and the potential for area development - thereby creating 'location-al
advantages'. In instances where the infrastructure does not support the project, the
Group develops and/or supplements the infrastructure within its project limits.

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Luxury
The Lodha Group has taken 'Luxury' to new heights - beyond majestic air-
conditioned lobbies and swimming pools. By benchmarking itself with some of the
best in the world, every Lodha project has many things extraordinary to offer the
global Indian - fully air-conditioned residences, finest Italian marble flooring,
fitted Poggenpohl kitchens, Zen landscaping, car parks with car lifts, resident spas,
Sky gardens and sundecks, open-air cookout areas, green open spaces, hi-tech
gyms, floodlit tennis courts, world-class facilities and schools, Wi-Fi enabled
Business Centres, fingerprint access and motion detector sensors for security,
Home Automation Systems with cell phone-operated appliances and much more.

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 C. Brief Introduction of the Product

LODHA BELMONDO

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A residence that exudes all the style one expect from an international luxury resort.
Bringing together the finest privileges of life, Lodha Belmondo offers a luxury
living experience without par. An extravagant 50,000 sq. ft. clubhouse, a golf
course, a full-sized cricket ground and an affiliated pre-primary school, from
exclusive spas to a gourmet restaurant, Lodha offers every comfort of a global
lifestyle.

Incorporating decades of expertise and the finer nuances of luxury resort living
into his grand plan, Christopher Benninger’s design for Lodha Belmondo
envisages a range of residences, customized to individual needs. Choose from chic
studio apartments, spacious 2, 3 and 4 bedroom residences; lavish 4 bedroom
duplex sky villas or the ultimate in luxury - independent golf villas set around the
golf course.

Each residence exudes luxury and style, with fine marble, international fittings &
fixtures, and premium finishes combining to provide an unparalleled, world-class
living experience.

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3.1 PRODUCT OFFERINGS:

GOLF VILLA

Area: 5600sqft + garden area

 Italian marble flooring in living, dining, master bed, master bathroom &
common areas
 Fully AC homes
 Fitted modular kitchen with gas detector
 Kohler & Jaguar bath fittings
 4-fixture bathroom with designer tiles & marble flooring
 Motion sensors for automated lightening in bathrooms
 Video door phone
 CCTV monitoring of common areas

SKY DUPLEX

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Area: 5600sqft

 Italian marble flooring in living, dining, master bed, master bathroom &
common areas
 Fully AC homes
 Fitted modular kitchen with gas detector
 Kohler & Jaguar bath fittings
 4-fixture bathroom with designer tiles & marble flooring
 Motion sensors for automated lightening in bathrooms
 Video door phone
 CCTV monitoring of common areas

4 BHK & 3 BHK L

Area: 4 BHK - 2700sqft, 3 BHK L - 2300sqft

 Italian marble flooring in living, dining, master bed, master bathroom &
common areas
 Fully AC homes
 Fitted modular kitchen with gas detector
 Kohler & Jaguar bath fittings
 4-fixture bathroom with designer tiles & marble flooring
 Motion sensors for automated lightening in bathrooms
 Video door phone
 CCTV monitoring of common areas

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3 BHK, 2 BHK L, 2 BHK & Studio

Area: 3 BHK- 2100sqft, 2 BHK L-1800sqft, 2BHK-1400sqft, Studio: 700sqft

 Imported Italian marble flooring in living, dining & common areas

 Laminated wooden flooring for all bedrooms
 Fully AC homes
 Kohler & Jaguar bath fittings
 Designer tiles in toilets
 Motion sensors for automated lightening in bathrooms
 Video door phone
 CCTV monitoring of common areas.

3.2 PRICE:

Configuration Starting Price

GOLF VILLA Rs. 7 Cr

SKY DUPLEX Rs. 6 Cr

4 BED RESIDENCE Rs. 2.1 Cr

3 BED LUXE RESIDENCE Rs. 1.7 Cr

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3 BED RESIDENCE Rs. 1.4 Cr

2 BED LUXE RESIDENCE Rs. 1.2 Cr

2 BED RESIDENCE Rs. 90 L

STUDIO Rs. 55 L

3.3 AMENITIES:

Evason spa and club facilities

Evason Spa and Club, Extending over 50,000 sq. ft., it is divided into 4 distinct
zones that offer the perfect balance of active fitness, soothing therapies and
creative fulfillment, to help attain a state of sublime well-being.

Greg Norman golf course

Lodha Belmondo’s meticulously designed, 45-acre riverside 9-hole golf course
with turf imported from the US. With a well-equipped pro-shop, and professional
golf coaches.

River Promenade
The central motif is clearly the Pavana River. A 1.2 km riverside promenade with
viewing decks, a picturesque jetty where sturdy boats stand ready.

Landscape
Subtly crafted, rich and multi-faceted, the landscape at Lodha Belmondo unfolds
like a beautifully woven tapestry. Following its course is a park, with leisurely
walkways, quiet retreats and open-air decks, a riverside theatre and café provide
beautiful backdrops for cultural and social evenings under the stars.

Organic Farm
Lodha Belmondo boasts a flourishing organic farm, assuring you of farm-fresh,
organic fruits and vegetables, and, of course, robust health and well-being

Fitness
There are many ways to stay fit. With tennis, badminton and basketball courts,
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leafy jogging tracks and a picturesque I km. long riverside promenade, one can
enjoy every moment of invigorating fitness regimen.

Helipad
Why brave rush hour traffic when there's a helipad on your own estate? Lodha
Belmondo provides charter helicopter services.

KEY CONVENIENCES

 Internationally-affiliated pre-primary school

 Well-stocked department store
 Well-equipped business centre
 Medical clinic
 ATM
 Temple

3.4 SERVICES:

 ACTIVITIES
 Yoga consultation & classes
 Meditation session
 Zumba fitness regimes
 Boxing & martial arts classes
 Pilates exercise sessions
 Weekly kid's activities

 RECREATION
 Movie screening
 Art & craft gallery
 Sessions of artisan & handcraftsmanship — for creating souvenirs for
lifetime
 Gourmet parties at your place

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  SPAS:
 Indigenous ingredients, plants and herbs, to offer truly natural and authentic
Spa experience.

 EXPERTS ADVICE:
 Fitness consultants
 Osteopaths
 Energy healers
 Facialists
 Sleep specialists
 Make up and nail courses

3.5 LOCATION

Strategically located at the entry point to Pune, Lodha Belmondo enjoys the best of
both worlds – the active business, cultural and spiritual life that Pune is known for,
and easy access to its reputed schools and health facilities, as well as the serene
privacy of a luxury resort.
Located on the Mumbai-Pune Expressway,

Opposite Subrata Roy Sahara Stadium

 10 minute drive away from Hinjewadi , Pimpri-Chinchwad and Talegaon

 Dehu Road railway station a 20-minute drive away
 Easy access to Pune airport
 1 hour away from proposed new international airport at Navi Mumbai
 1.5 hours away from Central Mumbai
 Easy access to Pune-Bangalore highway (NH4)
 Reputed schools like Akshara International School, Blossom Public School
and Orchid School, and colleges like the famous Symbiosis Institute, DY
Patil Institute of Management Studies and hotel management and
engineering colleges nearby
 Easy access to distinguished hospitals like Sanjeevani, DY Patil and Aditya
Birla Hospitals

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  Easy access to Osho Ashram, Sadhu Vaswani Mission and other pilgrimage
centres
 20-minute drive to Lonavala

3.6 PARTNERS

 Evason by Six Senses

 Greg Norman Golf Course
 Christopher Charles Benninger Architects (CCBA)
 Hirsch Bedner Associates (HBA)
 Landscape Design: PBB
 JW Consultants LLP
 MEP Consulting Engineers
 NRI

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 SITE VISIT / PROCESS FLOW:

Reception

Model Presentation (20

mins)

Audio Visual (5 mins)

Showcase Flat (20 mins)

Golf Course (20 mins)

Brochure Presentation (15

mins)

Final Discussion (No limit)

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 D. SWOT ANALYSIS

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STRENGTH

 Decades of experience in the field of real estate.

 One of the leading real estate groups in India.
 Strong brand equity.
 Excellent relations with customers.

WEAKNESS

 Limited global presence.

 High cost of finance and government intervention in land dealings.

OPPORTUNITY

 Expansion in new geographies.

 Availabilty of OC certified inventories.

THREATS

 Fluctuating interest rates.

 Environment regulations.
 Penalty

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 E. OBJECTIVES OF THE STUDY

PRIMARY:

 To understand the factors influencing Channel Partners association

with a Developer.

SECONDARY:

 To find the motivation level of Channel Partners by various incentive

program.

 To analyze the gap between channel partners expectation and management’s

delivery.

 To find the overall satisfaction of Channel Partners by Lodha Belmondo.

 To Analyze the Channel Partner perception towards association with Lodha

Belmondo.

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 F. RESEARCH METHODOLOGY

Research Design : Descriptive Research

Source of Information : Primary Data

Primary Data Collection : Survey Method

Primary Data Collection Instrument : Questionnaire

Sampling Methods and Techniques : Convenience Sampling

Sample Size : 62 Channel Partners

Tool Used

 PIE CHARTS & BAR GRAPHS

 WEIGHTED AVERAGE METHOD
 FRIEDMAN TEST

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 G. LIMITATIONS

 Due to time constraints the sample size was limited to 62 Channel Partners
and many Channel Partners were not ready to talk and share information.

 Objectives and the purposes of the study had to be explained to the Channel
partners and their responses maybe biased.

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 CHAPTER 2

LITERATURE REVIEW

Channel Partners: An Emerging Trend in Real Estate

What are Channel Partners?

Essentially CPs are the agencies that take the responsibility to sell-off whole or
part of the realty projects in a pre-agreed upon duration & take their
commission/fees in doing so. In this process, they underwrite the properties which
are to be sold by them.

How are Channel Partners different from Brokers?

Although doing the same work, there is a huge difference between Brokers and
Channel Partners.

A Broker acts as a liaison between the Seller & Buyer and in this process he takes
his commission from both the parties.

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A Channel Partner on the other end underwrites the property to be sold for a
particular duration by paying the owner some percentage of its cost (refundable).
The CP is then free to use any means of promotion & sale including sub-broking,
conducting events, etc. to sell the property. Once the property is sold in the pre-
decided duration, the CP gets a handsome cut from its sale, much larger than a
broker’s, and gets his underwriting amount back from the builder. If in case a CP
fails to sell the underwritten properties in the specified time duration, he is liable to
pay to the builder, an amount that is pre-specified in the agreement between him
and Builder.

With the evolution of new ways & processes in Real Estate, Builders have quickly
adopted the concept of Channel Partners. Following are some of the benefits that a
builder enjoys in partnering with a Channel Partner:

 Immediate funding of Operational Costs: The builder uses the

underwriting amount to fund his immediate cash requirements. This is similar to
funding by booking amount, the difference being that the percentage of cash is
relatively small.
 Guaranteed sell of the property: By partnering with the CPs, the Builder
ensures that his property will be sold. He no longer has to worry about the
marketing and promotional activities. Even if the CP is unable to sell the property
in the specified time, the Builder easily gets the interest amount by penalizing the
CP.
 Better than Broking: Using CPs is better than relying on the brokers. This
is because of the fact that brokers have no liability to sell the property, whereas
CPs have!
 Free Promotion: Suppose that a CP has underwritten 50 units out of total
100 units constructed by the Builder. Now, to sell those 50 units, the CP will carry
on promotional activities by conducting events, advertising etc. But in this whole
process, the Builder is getting benefit of free publicity of remaining 50 units as
they fall under the name of same project.
(www.realthorizon.com)

CHANNEL RELATIONSHIP

The relationship between a manufacturer and its channel partners is popularly

known as channel relationships that are based on interactions and connections
among the parties involved. The basic aim of building and maintaining such
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relationships is to create value and enhance the level of benefits for all the parties
involved (Agariya and Singh, 2011). There are many ways to create value in
relationship between manufacturer and channel partners like cost reduction, lead
time improvements etc. (Cannon and Homburg, 2001; Ulaga and Eggert, 2006;
Wagner and Lindemann, 2008). Efficient and appropriate utilization of
distribution channels can result in reduction in cost of maintaining inventories and
improvement in lead-time. But to utilize distribution channels efficiently one must
keep and maintain a sound system of information exchange and proper
coordination of all the business processes

There are few things that explain the importance of building and maintaining
channel relationships. Firstly, it is important that each of the channel partners of
the distribution channel must play their role in the most appropriate manner
because it has got some benefits for the channel partner itself and for others as
well. But to make the channel partners to perform their roles, there is a strong need
for building sound channel relationships. Wang and Kess (2006) have explored
the role of the distributor which is not just limited to selling the product but also to
provide services against the product to customers, to provide information about the
current customer needs and market trends, etc.(Lin and Chen, 2008; Mudambi
and Aggarwal, 2003; Paun, 1997).

On the other hand the manufacturer must seriously and accurately incorporate all
the information provided by the distributors. Secondly, the channel partners must
focus on removing asymmetry existing in the distribution channel that creates
irregularity in distribution process. As explained by Anderson and Weitz (1989),
asymmetry brings instability and low profitability atleast for one channel member
in the relationship. This can only happen if strong channel relationship exists.
Thirdly, due to the change in market trends and customer expectations, a
manufacturer needs to offer a broad range of products, specialized products etc.
But to make this broad range of products available to customers, a manufacturer
needs to have strong channel relationship with increased number of distributors
which can regulate the sales process (Vlachopoulou et al., 2005).

(www.icommercecentral.com)

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CHANNEL INCENTIVES

A recent survey of 102 U.S. technology channel players, from Channel insight
rated the following incentives in order from most effective to least effective:

1. Performance-based incentives
2. Big-deal discounts
3. Volume rebates
4. Short-term price-based incentives;
5. Sales Promotional Incentive Fund (SPIF) programmes
6. Non-payment incentives
7. MDF

(www.imaeurope.com)

When asked Channel Partners to describe how vendors can help partners cope with
the changing sales environment, our respondents provided clear direction. A
request for additional sales and marketing support was first and foremost, followed
by the need for sales and technical training. Channel partners also expressed
interest in having the vendor share best practices in sales, marketing and market
research. When asked partners to rank the importance of a pre-defined list of
vendor activities and attributes. Channel partners listed high quality products,
vendor reputation in the marketplace and competitive pricing as the most important
activities and attributes that contribute to their success, closely followed by
tracking and reporting on sales and incentives. Partners also reported that
competitive benchmarking is important to them and few vendors do a good job of
providing this information. It is interesting to note that good incentive programs
are important, but not primary, and in fact cannot make up for deficits in
reputation, product, pricing, and communication.

(www.modeln.com)

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 CHAPTER 3

DATA ANALYSIS
AND
INTERPREATIONs

1.TYPE OF COMPANIES IN REAL ESTATE INDUSTRY

TYPE OF COMPANY NO. OF CHANNEL PERCENTAGE

PARTNERS
Retail 37 60%
ACP 22 35%
Institution 2 3%
IPC 1 2%
TOTAL 62 100.00%

Institution IPC
2, 1,
3% 2%
Retail
ACP
22, ACP
35%
Retail Institution
37, IPC
60%

Figure 1 : Type of Company

INTERPRETATION:

 Majority of the Channel Partners are in Retail Business i.e. 60% followed by
ACP( Alternative Channel Partner) i.e. 35%.

LODHA GROUP Page 33

2.TYPE OF BUSINESS IN REAL ESTATE INDUSTRY
TYPE OF BUSINESS NO. OF CHANNEL PERCENTAGE
PARTNERS
Primary 39 63%
Secondary 24 39%
Rental 29 46%
Commercial 19 31%
Land 11 17%

45
39
40
35
29
30
24
25
19
20
15 11
10
5
0
Primary Secondary Rental Commercial Land

Figure 2: Types of Business in Real Estate Industry

INTERPRETATION:

 63% of the Channel Partners are doing primary business which handles
properties on sale for the first time.
 39% of Channel Partners are in Secondary business that is reselling of the
property.
 46% of Channel Partners are doing business through Rental i.e. they become
the medium between a tenant and an owner for leasing out their properties
and helping them with the overall process.
 31% CP are in Commercial business and 17%CP handles land property

LODHA GROUP Page 34

3. TOTAL NO. OF YEARS IN THE BUSINESS

YEAR NO. OF CHANNEL PERCENTAGE

PARTNERS
Less than 5 6 10%
5-10 years 31 50%
More than 10 years 25 40%
TOTAL 62 100.00%

40

30

20 31
25
10
6
0
less than 5 5-10 years more than 10
years

Figure 3: Total no of years

INTERPRETATION:

 50% of Channel Partners have an experience between 5-10 years into Real
estate business
 40% Channel Partners have more than 10 years of experience into Real
estate business.

4. COMPANY REGISTERED WITH

REGISTRATION NO. OF CHANNEL PERCENTAGE

PARTNERS
REAP 31 50%
EAAP 20 32%
NAR 6 10%
Others 5 8%
TOTAL 62 100.00%

LODHA GROUP Page 35

 REAP 31

EAAP 20

NAR 6

Others 5

0 5 10 15 20 25 30 35

Figure4:Company Registrations

INTERPRETATIONS:
 Majority of the Channel Partners are registered with REAP and EAAP
i.e. 31 and 20 respectively.

5. INVESTOR BASE OF CHANNEL PARTNER

INVESTOR BASE NO. OF CHANNEL PERCENTAGE
PARTNERS
Pune 62 100%
Mumbai 18 29%
NRI 6 10%
Others 8 13%

LODHA GROUP Page 36

 70 62
60
50
40
30
18
20
6 8
10
0
Pune Mumbai NRI Others

Figure 5: Investor base of channel partners in Pune

INTERPRETATION:

 As the respondents are based of Pune, all Channel Partners have client
base from Pune.
 18 Channel Partners have investors from Mumbai also and 8 Channel
Partners have NRI clients who are willing to invest in India.

6. SOURCE OF BUSINESS:

SOURCE OF NO. OF CHANNEL PERCENTAGE

BUSINESS PARTNERS
SMS 31 50%
Online Portals 23 38%
Tele Calling 27 44%
Own website 4 6%
Newspaper 22 36%
Exhibtions 0 0%
Resedential inserts 2 3%
Emails 25 41%

LODHA GROUP Page 37

 60%
50%
50% 44%
41%
38% 36%
40%
30%
20%
10% 6%
3%
0%
0%

Figure 6: Sources of Business

INTERPRETATION:

 Major sources of business are SMS, Online portals, Tele Calling,

Newspapers and Emails. Therefore ‘Digital Marketing’ plays a vital role in
today’s world.

7. RATING OF FACTORS AFFECTING CHANNEL PARTNER

ASSOCIATION WITH A DEVELOPER

Weighted Average Method:

Table 1: Table for number of respondent for individual factor

Weightage 1 2 3 4 5 Column1
Not at all Slightly Fairly Very
FACTORS important important Important important important SUM
Brand 4 4 40 9 5 62
Incentives 0 2 45 9 6 62
Relationship building 3 0 48 9 2 62
Timely payment 0 11 48 2 1 62
Additional benefits 11 14 21 7 9 62

LODHA GROUP Page 38

Table 2: Table for weighted score

Weightage 1 2 3 4 5 Column1
Not at all Slightly Import Fairly Very Weighted
FACTORS important important ant important important Sum
Brand 4 8 120 36 25 193
Incentives 0 4 135 36 30 205
Relationship
building 3 0 144 36 10 193
Timely
payment 0 22 144 8 5 179
Additional
benefits 11 28 63 28 45 175

Sorting the weighted score in descending order and finding the corresponding
ranks.

Table 3: Perception table

Weighted
Factors Average Rank
Brand 12.86666667 2
Incentives 13.66666667 1
Relationship
Building 12.86666667 2
Timely payment 11.93333333 3
Additional
Benefits 11.66666667 4

INTERPRETATION: As we can interpret from Weighted average, Incentive is

the most important factor and additional benefits is the least important factor.

LODHA GROUP Page 39

 8. Rating of Incentive Program on level of Motivation

Weighted Average Method

Table 1: Table for number of respondent for Individual Incentive type

Weightage 1 2 3 4 5 Column1
Incentive No motivation Somewhat Important Motivated Fairly Important Highly Important SUM
Big deal discount 4 8 19 20 11 62
Performance 0 5 22 27 8 62
Market development fund 1 4 38 14 5 62
Non-payment Incentive 2 16 40 4 0 62
SPIF 1 13 39 0 9 62
Volume rebates 2 2 38 12 8 62

Table 2: Table for weighted score

Weightage 1 2 3 4 5 Column1
No Somewhat Fairly Weighted
Incentive motivation Important Motivated Important Highly Important sum
Big deal discount 4 16 57 80 55 212
Performance 0 10 66 108 40 224
Market development
fund 1 8 114 56 25 204
Non-payment Incentive 2 32 120 16 0 170
SPIF 1 26 117 0 45 189
Volume rebates 2 4 114 48 40 208

Sorting the weighted score in Descending order and finding the corresponding
ranks.

LODHA GROUP Page 40

Table 3: Perception table

Weighted
Incentive Program average RANK
Big deal discount 14.1333333 2
Performance based incentive 14.9333333 1
Market development fund 13.6 4
Non-payment Incentive 11.3333333 6
SPIF 12.6 5
Volume rebates 13.8666667 3

INTERPRETATION: Performance based incentive is highly motivated for

Channel Partners and Non-payment Incentive is least motivated.

9. AWARENESS OF LODHA

AWARENESS NO. OF CHANNEL PERCENTAGE

PARTNERS
High 41 66%
Medium 17 27%
Low 4 7%
TOTAL 62 100.00%

Low, 4,
7%

Medium,
17, 27% High
Medium
Low

High, 41,
66%

Figure 7: Awareness of Lodha among Channel Partners.

LODHA GROUP Page 41

INTERPRETATIONS:

 Most of the Channel Partners are aware of Lodha Belmondo project i.e. 66%
and many of them are already associated with Lodha.
 27% are moderately aware about the project and 7% Channel Partners had
difficulty recognizing the name.

10. INTERESTED TO REGISTER WITH LODHA BELMONDO

INTERESTED TO NO. OF CHANNEL PERCENTAGE

REGISTER PARTNER
Already registered 34 55%
Yes 11 18%
No 17 27%
TOTAL 62 100.00%

40
35
30
25
20
34
15
10 17
5 11
0
Already Yes No
Registered

Figure 10: Registration with Lodha Belmondo

INTERPRETATION: Out of 62 Channel Partners,

 34 Channel Partners are already registered with Lodha

LODHA GROUP Page 42
  11 were interested to get registered and 17 were not not interested to register
with Lodha.

11. SINCE HOW LONG WITH LODHA

TIME PERIOD NO. OF CHANNEL PERCENTAGE

PARTNERS
Less than 1 year 5 15%
1-2 years 17 50%
2-3 years 9 26%
3-4 years 3 9%
More than 4 years 0 0%
TOTAL 34 100%

More than 4 years 0

3-4 years 3

2-3 years 9

1-2 years 17

Less than 1 year 5

0 5 10 15 20

Figure 11: How long with Lodha

INTERPRETATION: Out of 34 Channel Partners,

 15% Channel Partners were from Less than 1 year

 50% were working from 1-2 years and 26% were from 2-3 years
LODHA GROUP Page 43
  9% had 3-4 years of experience with Lodha.

12. MEETING WITH SOURCING MANAGERS

MEETING NO. OF CHANNEL PERCENTAGE

PARTNERS
Twice/ Thrice a weak 7 21%
Once a weak 18 53%
Once a month 9 26%
TOTAL 34 100%

18
20

15
9
10 7

0
Twice/Thrice a Once a weak Once a month
weak

Figure 12: Meeting with sourcing manager

INTERPRETATION:

 21% Channel partners does meeting 2-3 times a weak with sourcing
manager.
 53% Channel Partners meet once a weak while 26% meet once a month.

LODHA GROUP Page 44

13. COMFORTABLE WITH SHARING DATA

NO. OF CHANNEL PERCENTAGE

PARTNERS
Very comfortable 4 12%
Comfortable 14 41%
Somewhat comfortable 13 38%
Not at all comfortable 3 9%
TOTAL 32 100%

Not at all
4, 12% 3, 9%
comfortable
Somewhat
comfortable
13, 38% Comfortable
14, 41%
Very comfortable

Figure 13: Comfortable with sharing data

INTERPRETATION:

 12% of Channel partners were “very comfortable” sharing their data base.
 41% were “comfortable” and 38% were “somewhat comfortable”
 Whereas 9% were “not at all comfortable” sharing their data.

LODHA GROUP Page 45

14. RATING OF ASPECTS THAT CONTRIBUTES TO YOUR SUCCESS

Statistical Test: Friedman Test and Weighted average.

Variable and Measurement: The Channel Partners are asked to tell how
important the following factors are that contributes to their success.

1. High/ quality product

2. Builder Reputation
3. Competitive pricing
4. Good Incentive program
5. Sales training
6. Marketing Support
7. Management of leads
8. Competitive benchmarking

Each factor was measured on a 5 point scale (1=Least Important, 5= Most

Important)

Test Hypothesis:

H0: Factors that contribute to Channel Partner’s success do not differ in magnitude
of importance.(equal mean rank)
H1: Factors that contribute to Channel Paartner’s success differ in magnitude of
importance.( mean rank are not equal)

Level of Significance: alpha= 0.05

Observations:

Test Statisticsa
N 34
Chi-
43.376
Square
df 7
Asymp.
.000
Sig.
a. Friedman Test

LODHA GROUP Page 46

Conclusion: Since the P value(0.000) is less than the level of significance (0.05)
the null hypothesis is rejected. Hence it is concluded that activities & attributes
significantly differ in magnitude of importance.

To find out where the difference lies we refer to the ranks table.

Ranks
Mean
Rank
Highqualityproduct 5.13
Builderreputation 5.29
Competitivepricing 5.13
Goodincentiveprogr
4.85
am
Salestraining 3.28
Marketingsupport 3.01
Managementofleads 4.22
Competitivebenchm
5.07
arking

Weighted Average Method

Table 1: Table for number of respondent for individual factor

Column
weightage 1 2 3 4 5 1
Not at all slightly importan fairly Very
Activities important important t important important SUM
Highly/quality
product 0 2 18 8 6 34
Builder reputation 0 0 19 10 5 34
Competitive pricing 0 3 17 8 6 34
Good incentive
program 0 0 25 4 5 34
Sales training 4 5 22 1 2 34
Marketing support 0 12 20 2 0 34
Management of
leads 2 3 22 3 4 34
Competitive
benchmarking 0 1 21 4 8 34

LODHA GROUP Page 47

Table 2: Table for weighted score

weightage 1 2 3 4 5 Column1
Not at all slightly importan fairly Very Weighted
Activities important important t important important Sum
Highly/quality
product 0 4 54 32 30 120
Builder reputation 0 0 57 40 25 122
Competitive pricing 0 6 51 32 30 119
Good incentive
program 0 0 75 16 25 116
Sales training 4 10 66 4 10 94
Marketing support 0 24 60 8 0 92
Management of
leads 2 6 66 12 20 106
Competitive
benchmarking 0 2 63 16 40 121

Sorting the weighted score in Descending order and finding the corresponding
ranks.

Table 3:

WEIGHTED
Activities AVERAGE RANK
Highly/quality product 8 3
Builder reputation 8.133333 1
Competitive pricing 7.933333 4
Good incentive program 7.733333 5
Sales training 6.266667 7
Marketing support 6.133333 8
Management of leads 7.066667 6
Competitive
benchmarking 8.066667 2

INTERPRETATION: Builder reputation, competitive benchmarking and high/

quality product are most important and marketing support is least important.

LODHA GROUP Page 48

15. RANK THE PERFORMANCE OF LODHA

Statistical Test: Friedman Test and Weighted average.

Variable and Measurement: The Channel Partners are asked to tell what they
think about Lodha based on the following factors.

1. High/ quality product

2. Builder Reputation
3. Competitive pricing
4. Good Incentive program
5. Sales training
6. Marketing Support
7. Management of leads
8. Competitive benchmarking

Each factor was measured on a 5 point scale (1=Poor, 5= Excellent)

Test Hypothesis:

H0: Factors that contribute to Channel Partner’s success do not differ in magnitude
of importance.(equal mean rank)
H1: Factors that contribute to Channel Paartner’s success differ in magnitude of
importance.( mean rank are not equal)

Level of Significance: alpha= 0.05

Observations:

Test Statisticsa
N 34
Chi-
72.135
Square
df 7
Asymp.
.000
Sig.
a. Friedman Test

LODHA GROUP Page 49

Conclusion: Since the P value(0.000) is less than the level of significance (0.05)
the null hypothesis is rejected. Hence it is concluded that activities & attributes
significantly differ in magnitude of importance.

To find out where the difference lies we refer to the ranks table

Ranks
Mean
Rank
Highqualityproduct 5.38
Builderreputation 5.84
Competitivepricing 5.34
Goodincentiveprogram 3.13
Salestraining 3.66
Marketingsupport 3.01
Managementofleads 3.99
Competitivebenchmarking 5.65

From the rank table, we can find that builder reputation has a mean rank of
5.84,competitive benchmarking has a mean rank of 5.65, high/quality product has a
mean rank of 5.38 and competitive pricing has a mean rank of 5.34.

Weighted Average Method

Table 1: Table for number of respondent for individual factor

Weightage 1 2 3 4 5 Column1
Activities Poor Average Fair Good Excellent SUM
High/ quality product 0 0 18 10 6 34
Builder reputation 0 0 15 11 8 34
Competitive pricing 0 1 18 6 9 34
Good incentive program 2 7 22 3 0 34
Sales training 1 5 24 4 0 34
Marketing support 0 9 25 0 0 34
Management of leads 2 3 22 5 2 34
Competitive
benchmarking 0 1 14 13 6 34

LODHA GROUP Page 50

Table 2: Table for weighted score

Weightage 1 2 3 4 5 Column1
Weighted
Activities Poor Average Fair Good Excellent Sum
High/ quality
product 0 0 54 40 30 124
Builder reputation 0 0 45 44 40 129
Competitive
pricing 0 2 54 24 45 125
Good incentive
program 2 14 66 12 0 94
Sales training 1 10 72 16 0 99
Marketing support 0 18 75 0 0 93
Management of
leads 2 6 66 20 10 104
Competitive
benchmarking 0 2 42 52 30 126

Sorting the weighted score in Descending order and finding the corresponding
ranks.

Table 3:

Weighted
Activities average RANK
High/ quality product 8.26666667 4
Builder reputation 8.6 1
Competitive pricing 8.33333333 3
Good incentive
program 6.26666667 7
sales training 6.6 6
marketing support 6.2 8
Management of leads 6.93333333 5
Competitive
benchmarking 8.4 2

LODHA GROUP Page 51

INTERPRETATION: High/ quality product is best delivered by Lodha and
Good incentive program as well as management of leads are not good.

Table showing Gap between Expectation and Performance delivered

Factors Expectation Performance GAP

Delivered

5.13 5.38 0.25

High/ quality product
5.29 5.84 0.55
Builder reputation
5.13 5.34 0.21
Competitive pricing
Good incentive (1.72)
program 4.85 3.13

3.28 3.66 0.38

sales training
3.01 3.01 0
marketing support
4.22 3.99 (0.23)
Management of leads
Competitive 0.58
benchmarking 5.07 5.65

From the above table it is seen that some variables have exceeded the expectation
and some have fallen short.

LODHA GROUP Page 52

16. OVERALL SATISFACTION WITH LODHA

Mean of SATISFACTION

One-Sample Test
Test Value = 0
95% Confidence Interval of
Sig. (2- Mean the Difference
T Df tailed) Difference Lower Upper
satisfaction 16.613 33 .000 3.147 2.76 3.53

INTERPRETATION: From the above table we can interpret that overall

Satisfaction with Lodha group is 3.147 (Mean Difference).

11. REASONS FOR NOT INTERESTED CHANNEL PARTNERS

REASONS NO. OF CHANNEL PERCENTAGE

PARTNERS
Location 6 35%
Business Type 5 29%
Builder-Channel Partner 2 12%
tie ups
Incentives 1 6%
Awareness 3 18%
TOTAL 17 100%

LODHA GROUP Page 53

 Location

1, 6% 3, 18%
6, 35% Business Type

2, 12%
Builder-Channel
Parner tie ups
5, 29%
Incentives

Awareness

Figure : Reasons for not interested Channel Partners

INTERPRETATION: Out of 17 Channel Partners not interested to register

with Lodha

 35% Channel Partners had constraint with Location as respondents were

taken across tha city.
 Next constraint is Business Type i.e 29% , as many were into Seconday
Business or commercial/Rental.
 18% had client base not aware about the Brand/Project.
 12% Channel Partners were already tied up with different developers.
 And for 6% incentive was a concern.

LODHA GROUP Page 54

 CHAPTER 4

FINDINGS

 Incentive is the most important factor considered by Channel Partners

while associating with a developer followed by Brand and Relationship
Building.

 With the application of weighted average it is concluded that

Performance based Incentive is most effective incentive program
followed by Big Deal Discounts.

 It is found that 18% of the Channel Partners are interested to get

registered with Lodha.

 It is inferred that 53% of Channel Partners meet once a week with the
sourcing manager.

 It is found that 41% Channel Partners are comfortable with sharing their
data.

 From the table of GAP it is seen that the performance level of some
variables have exceeded the expectation while that of incentive program
and management of leads have fallen short.

 From one sample t test, we can interpret that overall satisfaction with
Lodha group is 3.147 (mean difference)

 35% of Channel partners not interested to register had Location

constraint while 29% had business type issue.

LODHA GROUP Page 55

 CHAPTER 5

SUMMARY & SUGGESTIONS

 Company should make a group of top 50 Channel Partners and when target
is achieved the should be encouraged by giving extra perks:
 Gifts & Vouchers, Awards & Recognition, etc.

 Company should fill the Gap between Channel Partner expectation and
perception in following variables.:

 Management of Leads
1. Company should hire tele-callers so that leads can be managed well
2. The Sourcing Manager should do frequent meetings with the Channel
Partners, he/she needs to be updated about the progress on regular basis
or else he will lose out interest and will not send further leads.

 Big deal discount and volume rebate benefits should be given to encourage
the channel partners.

CHAPTER 6

BIBLIOGRAPHY

LODHA GROUP Page 56

  www.lodhagroup.com

 www.ibef.com

 www.modeln.com

 www.insightsfromanalytics

 www.realthorizon.com

ANNEXURE

LODHA GROUP Page 57

 CHANNEL PARTNER INTERACTION FORM

PERSONAL INFORMATION

Name of company:

Contact person:

Contact details:
Phone No.:
Email id:

QUESTIONNAIRE

1. What type of company is yours?

a. Institution c. ACP
b. Retail d. IPC

2. Type of business
a. Primary c. Rental e. Land
b. Secondary d. Commercial f. others(specify)

3. Total no. of years in Business

a. Less than 5 b. 5-10 years c. more than 10

4. Your company is registered with?

a. NAR c. REAP
b. EAAP d. others

5. What is your investor base?

a. Mumbai b. Pune c. NRI d. Others

6. What are the sources through which you do your business ?

LODHA GROUP Page 58

 a. SMS e. Newspapers
b. Online portals f. Exhibitions
c. Tele calling g. Resedential inserts
d. Own website h. Emails

7. Please rate the factors on basis of importance while associating with a

Developer.

Not at all Slightly Important Fairly Very

important important important important
Brand name
Incentives &
slab
Timely
payment
Relationship
building
Additional
benefits(bonu
s offers)

8. Please rate the Incentive Program on level of motivation provided by the

developers?
(1 being No motivation and 5 being Highly motivated)

1 2 3 4 5
Big deal
discounts
Performance
Based
incentive

Market
Development
Fund
Non

LODHA GROUP Page 59

payment
Incentives
SPIF (Sales
performance
Incentive
fund)

Volume
rebates

9. Awareness of Lodha Group

a. High b. Medium c. Not aware

10. Are you interested to register with Lodha Group (Belmondo Project)?
a. Already Registered
b. Yes
c. No

CHANNEL PARTNERS ALREADY REGISTERED WITH LODHA

BELMONDO

11. Since how long have you been associated with this project?
a. less than 1 year d. 3-4 years
b. 1-2 years e. more than 4 years
c. 2-3 years

12. How often does the sourcing manager meets you?

a. Twice / Thrice a week
b. Once a week
c. Once a month

LODHA GROUP Page 60

 13. Are you comfortable sharing your data with the Lodha?
a. Not at all comfortable
b. Somewhat comfortable
c. Comfortable
d. Very Comfortable

14. Rate the factors on basis of importance that contributes to your success.

Not at all Slightly Important Fairly Very

important important important important
High/Quality
product
Builder
Reputation
Competitive
pricing
Good
Incentive
program
Sales &
Technical
Training
Marketing
support
Management
of leads,
prospects and
conversations
Competitive
Benchmarkin
g

LODHA GROUP Page 61

15. On the parameters specified below, how would you rate Lodha on a scale of 1
to 5? Where 1 being Poor and 5 being Excellent.

Poor Average Fair Good Excellent

High/Quality
product
Builder
Reputation
Competitive
pricing
Good
Incentive
program
Sales &
Technical
Training
Marketing
support
Management
of leads,
prospects and
conversations
Competitive
Benchmarkin
g

16. On a scale of 1 to 5, express your overall satisfaction with Lodha?

1 2 3 4 5

Highly Highly
dissatisfied satisfied

LODHA GROUP Page 62

 CHANNEL PARTNERS NOT INTERESTED TO REGISTER WITH
LODHA BELMONDO

11. Select the following Reason, which effects your decision not to register with
Lodha?
a. Business type
b. Builder- channel partner tie ups
c. Incentive Schemes
d. Location
e. Awareness

LODHA GROUP Page 63