A Study Of The Relative Importance Of Various Media Of Promotion In The Real Estate Sector In India

Abstract

Real estate contributes a significant portion to the GDP of the country yet not much research is done on real estate in general and its marketing in particular. Real Estate developers use different media for advertising and promotion. The purpose of this paper is to identify the relative importance of various media for promotion in the real estate sector in India. This paper considers seven different media for promotion namely Newspapers, Hoardings, Social media, Google ads, Property fairs, TV ads, and Pamphlets. Sales Managers of the Real estate companies were approached with a structured questionnaire and were asked to rank these seven media in order of importance. 101 responses were received. Based on this ordinal data, a non-parametric test of Mann-Whitney (Wilcoxon Rank Sum) test was conducted to find out the relative importance of those seven media and whether there were significant differences in the importance of these various media. From the study, it can be concluded that Google ads are significantly more important than other media for promotion, followed by Social media which is significantly more important than Newspapers, Hoardings, Property fairs, TV ads, and Pamphlets.