PROJECT REPORT ON

‘THE MEASUREMENT OF BRAND AWARENESS AND

BRAND PERCEPTION’

By

Pooja Kumari

(11612776)

CoHo (ZR Management Pvt. Ltd.)

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 PROJECT REPORT ON
‘Analysis of lead generation and successful marketing
strategies used for CoHo’s growth’
By KM PoojKumari
(11612776)
CoHo (ZR Management Pvt. Ltd.)

A report submitted in fulfilment of the requirements of

MBA Program of Lovely Professional University

Distribution List:
Faculty Guide: Mr Ashwani Panesar

Company Guide: Ms. Ritika Goel (General

Manager - Sales, marketing and alliances) CoHo
(ZR Management Pvt. Ltd.)

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 AUTHORISATION

I, KM Pooja Kumari, hereby state that this project work entitled ‘Analysis
of lead generation and successful marketing strategies used for CoHo’s growth’
is an original piece of work done and submitted by me towards fulfillment of the
requirement of MBA Program of Lovely Professional University . The findings and
conclusions expressed in this report are genuine and for academic purpose. It has
neither been submitted nor published anywhere before, any resemblance to
earlier project or research work
purely coincidental.

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 ACKNOWLEDGMENT

I would like to express my heartfelt gratitude to all the people who have been a
constant source of guidance and support during the entire course of internship with
CoHo. I am deeply grateful to the entire management of ‘Lovely Professional
University’ for giving me an opportunity to learn the practical aspect of life.
With great pleasure, I express my heartiest thanks to Mr Ashwani panesar. Without
his guidance, support and motivation this project would not have been complete.
Ms. Ritika Goel (General Manager) who has acted as a source of inspiration and
motivated me to move beyond my comfort boundaries by giving me challenging
tasks and guiding me throughout.
I would like to convey my sincere thanks to all those who have directly or indirectly
helped me to accomplish my goals. I would like to thank all my senior members of
the organization for putting their trust in me and assigning me trustworthy tasks.
Last but not the least I would like to thank my parents and my friends who have been
the pillar of strength for me in all the phases of life.

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 Table of contents

S.No. Particulars Page No.

1. Authorization………………………………… i
2. Acknowledgment…………………………...... ii
3. Chapter -1 Introduction……………………..... 1
3.1 Abstract………………………………... 2
3.2 Introduction of the Industry…………… 3
3.3 About the Organization………………... 4
3.4 Bottom of the Pyramid……………….... 7
3.5 SWOT Analysis……………………….. 8
4. Chapter -2 Project Introduction……………… 9
4.1 Purpose……………………………….... 10
4.2 Scope…………………………………... 10
4.3 Methodology…………………………… 11
4.4 Limitations………………………………13
5. Chapter -3 Project Description – Detailed…… 14
5.1 Project Schedule……………………...... 15
5.2 Work Description………………………. 17
6. Chapter - 4 References……………………….. 19

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 Chapter - 1

INTRODUCTION

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3.1 Abstract
The topic of my internship is “Analysis of lead generation and successful
marketing strategies used for CoHo’s growth”. The project includes designing
the strategies to measure and understand the brand awareness and brand
perception. Based on these strategies suggesting and executing the action plan to
reduce the pain points of the company to increase awareness.
When differentiating between competing companies the only factor that drives
consumer’s decisions is brand awareness and perception. It not only encourages
repeat purchases but also leads to an increase in market share. The key to success of
any consumer-oriented company is the ability to effectively spread awareness and
acquire customers to scale its user base. This project is an attempt for the company to
measure and understand the brand awareness and brand perception in their target
market.
My Project is divided into following four phases:-

Planning: My project starts with planning of the feasible strategies that can be used
to measure the brand awareness and brand perception.

Execution: Since the majority of the result would be dependent on how well the
planned strategies are executed. Therefore, I will be taking help from the team
responsible for physical marketing and events in executing the action plans
effectively.

Identifying: Analyzing of the collected data and identifying the pain points
company is facing in terms of awareness and Brand perception.

Recommendations: Based on the analysis, marketing strategies and action plans

would be suggested to increase the brand awareness and to improve brand
perception.

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3.2 Introduction of the Industry

The $20 billion residential market consist of $13.5 billion in urban, $0.8 billion in
rural and $5.7 billion in vacant Non Resident Indian property brokerage. Recent
trends of rental properties in India are conspicuous by the immense potential that is
being realized today. Rentals values in cities like Delhi and outskirts are witnessing
an increase of 20-25% due to which real estate agents are devoting themselves to
negotiations for rented homes more than ever. Though the low interest rates on home
loans and continued tax exemptions from the government prompts people to buy
property but those with the ability to buy a flat among middle class are still thinking
twice.

Residential rentals for flat/apartment, independent house and PG accommodation

are more popular in Tier I and II cities. These cities have far greater avenues for
those who are on transferable job or looking for job opportunities. This has created a
good market for those seeking to invest in Investment property i.e. investing in a
property for rental purposes as they ensure good rentals on a regular basis. A recent
study conducted by makaan.com showcase that 10 out of 12 Tier-1 cities in India
witnessed landlords earning rental yields of over 3% in July 2018. Whereas the rental
yield in July 2017 was high as 0.7% for Ahmedabad and 0.4% in Chennai. In the high-
end rental apartment segment, the terrace flats, luxury apartments and home,
bungalows, villas, penthouses and condominiums are gaining ground as a popular
choice. The segment is also considered a safe investment option as the leased
property is kept under the e inspection of the respective housing society. Increased
demand of independent houses or paying guests occur mainly in the metros like
Delhi, Gurgaon, Mumbai etc. where the corporate sectors rent independent houses for
their senior executives. A paying guest or PG accommodation in India is a
convenient accommodation arrangement where the owner provides meal as a part of
the rent agreement, apart from several desirable amenities like laundry. Even PG
hostels and working women’s hostel, are considered safe and can be availed of on an
individual or sharing basis mean big business.

India has a growing appetite for rental housing. But there’s a big gap between supply
and demand largely due to what commentators describe as a ‘trust deficit’ that many
landlords face. These are the landlords who keep their properties locked up as they
dread dealing with estate agents renting their property to unverified tenants who turn
into squatters. The trust issue over tenants is because of the lack of verified listings
and the fear of losing their security deposit.

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3.3 About the Organization

ZR Management Private limited launched a rental co-living spaces for the youth in
India in 2015, headquartered in Gurugram, Haryana founded by Mr. Uday Lakkar.
The company with the tagline ‘Stop existing, Start Living’ aims to provide superior
living experience to the millennial in India. Company owns and operates an online
listing platform for rentals and paying guest accommodation. The company charges a
monthly rent to the residents after leasing properties from the landlords and then
converting them into co-living hubs. For young professionals, they offer fully
furnished comfortable home stay with a community of like-minded people and
provide hassle-free living experience driven by high class, tech enabled, services so
that their residents don’t just live but enjoy living. CoHo is not just providing
convenience to the tenants but also to the property owners, they act as property
managers and help them with furnishing the property, maintenance and ensuring
tenants of high pedigree. CoHo works on an asset-light approach with very high
lifecycle value of a customer with annuity cash flows, with a typical contract life of
12 months and strong traction of 30 plus percent growth month-on-month and 90
plus percent average occupancy. Currently, CoHo is operating in Delhi, Gurgram,
Noida and Bengaluru offering 1BHK, Studio apartment, PG, Sharing Flat or 1RK on
rent with single, double or triple occupancy options without brokerage. Pricing of
these offerings is also easy on the pocket, ranging from Rs 9,000 to Rs 15,000 per
month for shared rooms, and Rs 17,000 to Rs 25,000 per month for solo rooms. As of
now, Coho has around 50 full time employees with the revenues of less than $1
million.

Vision
‘To develop a platform in such a way that if somebody wants to search anything
related to accommodations or houses, the first thing that should come in their mind is
log on to CoHo.in’
Every internet pioneer focus on advertising, channel distribution, search engine
optimizations, revenue model etc. but no one talks about the quality of the product.
So, the idea about concentrating on the product that the user really needs. A clean and
well-managed accommodation or simply a hassle-free co-living spaces for young
working professionals and university students in India has been an
undeserved need for long despite have a huge market. CoHo.in is a tech platform
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that is trying to get cracking exactly at this problem with its offering of managed
apartments and villas with top-notch amenities at affordable price points. From fully
furnished managed apartments & villas to tech-driven approach, everything that
CoHo offers ensures that everything that is in there is a customer’s checklist for a
perfect stay is met. It provides one stop solution which not only fulfil customer’s
accommodation requirements but also keeps them surrounded with like-minded
people.

Technology based approach

CoHo offers user-friendly mobile application with which user can search for
accommodation in a particular area and also can identify their exact location using
Google-maps links. Users can also check out details of the accommodation such as
the price per person, amenities provided, locality index and variance other details.
Using CoHo mobile application, one can easily create a list of shortlisted places and
then contact the concern person through a simple tap on the option ‘send interest’.
Technology is also helping in changing or transforming how the co-living
managements takes place.

We at CoHo believes that technology has the potential to strengthen the co-living
experience through services and tools that facilitate many elements of co-living
which includes communication, onboarding, sustainability, bookings, rental
payment and much more. Technology in this sense is adding value to the co-living
experience by facilitating a holistic lifestyle that integrates all aspects of people’s
lives through these different services and tools.
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Guillaume De Jenlis, the Services Research Forum Coordinator of Pure house lab,
identifies two main uses of technology in co-living spaces:
Finding the best suited co-living spaces
Technology is doing a great job to help users to find and book a space. This is
because people always have some type of computer in their hand, whether it’s
a smartphone, a tablet, or an actual laptop/desktop, which means they are able
to quickly communicate with others in a matter of seconds.

Co-living Management
People can book a space, send and collect billing, chat with neighbors, share a
bike or car with your community, create events etc. Most of the co-living spaces
are now rely on technology to manage their day to day logistics and bring
communication inside their communities.
Some of the ways in which co-living spaces are using technology is focused on
onboarding and marketing, for example some spaces use 360 virtual reality tours. The
potential of open source technologies can also catalyze the co-living movement into
a leader of real estate, tech and social entrepreneurship sectors. Tools like
GitHub can be used as a measurement tool to track commitment and contributions, as
a way to organize and develop new ideas and practices. Other one of the most popular
technologies around the world such as Blockchain also have an enormous potential to
be integrated into the co-living sector through multiple angles, such as through rental
payments, medical assistance etc. Blockchain technology also has the potential to
disrupt the real estate sector, ultimately facilitating the development of shared living
spaces. Also, the potential for integrating IOT and decentralized technologies
into co-living spaces and management is strong. Viewed together, IOT and
Blockchain technology can change the design, planning and operation of co- living
communities. Introduction of latest technology products like smart locks, virtual
reality, and energy saving appliances will also help scale the business. With the use
of smart locks or RFID (Radio frequency identification) which uses
electromagnetic fields to automatically identify and track tags attached to objects, Co-
living members can come and go without needing to use physical keys. In
addition to this, the community manager knows who is on site in case there is a fire
so from a regulatory standpoint which will help to make co-living management more
secure.

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3.4 Bottom of the Pyramid
After management scholar CK Prahalad popularized the idea of this demographic as
a profitable consumer base in his 2004 book ‘The Fortune at the Bottom of
the Pyramid’, many multinationals from real estate sector as well have started
focusing on this fortune which lies within the low-income communities. But the
journey to the bottom of the pyramid of most of the companies stopped with the
surprise when weak consumer demand and obstacles such as bad roads kept revenues
low and cost high.
Profitably selling to the bottom of the pyramid is difficult, but it can be done.
Therefore, real estate companies are trying to focus on business fundamentals and
starting their ventures with a rigorous understanding of two key challenges in low-
income markets: changing consumer’s behavior and changing the way products are
made and delivered. Organizations that underestimate these hurdles miscalculate the
resources, innovation capabilities, and time involved, and the project teams end up
poorly equipped to accomplish the task. To successfully educate consumers about
new or untried products, companies often have to work with them over sustained
periods. To deal with changing consumer’s behavior, some of the real estate
companies are planning to create consumer groups in order to harness peer pressure
and build support for new behaviors.
In real estate industry, major factor that increases cost is location of the property. To
target bottom of the pyramid, real estate companies are planning to launch cost
effective properties in the locations which are not posh in the desired city. This will
reduce the cost of the product and eventually would be affordable for the members of
the low-income communities. Because of a knowledge gap, consumers are
underutilizing a product that alternate options. The goal should be is to boost short-
term consumption of that product while strengthening the company’s brand in an up-
and-coming mass-market. A well-known example of success in a bottom of the
pyramid market is the case of Manila water in the Philippines. As per Mr. Uday
Lakkar, CEO and Co-founder CoHo, the problem with this model is that
opportunities to leverage existing infrastructure are usually limited, and most of the
products sold by bottom of the pyramid ventures are new to the target consumers. The
reality is that most bottom of the pyramid ventures stumble over the dual
obstacles of village scale and high-touch sales.

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3.5 SWOT Analysis

Strength Weakness

- Assest-light model
- Dedicated community - Prices are high relatively to
events team its competitors.
- Services are managed by - Gender based restrictions
third party experts

- Huge untapped market

- Marketing campaigns are
yet to be implemented - Not clearly defined
government laws for the
- Digital marketing is yet to
industry
be expored
- Existing local PG market
- New properties can be
acquired on the basis of
revenue sharing model

Opportunity Threats

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 Chapter - 2

PROJECT INTRODUCTION – PURPOSE,

SCOPE, METHODOLOGY AND
LIMITATIONS

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4.1 Purpose

To measure the brand awareness and brand perception.

To present my observation and suggestion regarding ‘Sales strategy of
CoHo’.
To facilitate a smooth experience of the residents by engaging them with
them on a regular basis.
To communicate the brand effectively
To understand how physical marketing is helpful for a startup to create buzz
and helps in creating brand awareness.
To increase the brand awareness amongst the target audience.
To plan and execute the action plan to increase the brand awareness.
To identify and resolve pain points the company is facing in increasing
brand awareness.

4.2 Scope
The main aim of any organization is to grow their brand and sustain its development.
Distinguishing yourself in a market is challenging enough. When that market
is competitive, it becomes even more of an issue. For brands looking to find an edge,
having positive brand perception is key to being remarkable to the space. With the
same purpose, the scope has been laid, which focuses on the organization’s overall
brand development.

4.3 Methodology
The best method to understand brand awareness and brand perception is Market
Survey. Market surveys are conducted to collect the information that can give
valuable insights into areas such as target markets, product feedback, customer
responsiveness and loyalty, understanding buying habits and brand awareness.
Therefore, market surveys not only collects data about a target market such as
pricing trends, customer requirements, competitor analysis but also helps to measure
the brand awareness and perception. To understand CoHo’s brand awareness and
brand perception, we developed the below framework.

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 Framework
Explore – This is the market segment that knows the brand but aren’t happy
with the services or experience.
Core – This segment of the market where we enjoy high awareness and strong
brand health.
More – This market segment is where we have relatively low awareness, but
strong brand health amongst those who are aware about the brand.
Ignore – This market segment is where our brand is less well known that its
competitors and is not well-liked amongst those are aware about the brand.

Following is the questionnaire used for market survey to measure brand awareness
and understand brand perception:-
Name: Age: _
Location:

Q1. Have you heard the company name CoHo?

YES
Q2. From where did you get to know about the company?
a) Friends b) Advertisements c) Events d) Other

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Q3. Have you seen any advertisements of the company?
a) Yes b) No
Q4. How familiar are you with the brand’s services?
a) Not at all b) Slightly c) Moderately d) Very familiar
Q5. Which brand comes to your mind when you think about rental accommodations?
a) Nestaway b) Oyo living c) Zolo Stays d) CoHo e) Other
Q6. How do you feel about this company?
a) Negative b) Neutral c) Positive d) Not sure
Q7. Do you have any feedback or suggestion for the company?

AND

Q1. Have you heard the company name CoHo?

NO
Q2. Are you aware about the ‘co-living’ concept?
a) Yes b) No
Q3. Which brand comes to your mind when you think about rental accommodations?
a) Nestaway b) Oyo living c) Zolo Stays d) CoHo e) Other
Q4. From where you get to know about the brands?
a) TV Ads b) Banners/posters c) Social Media d) Friends
Q5. Do you have any feedback or suggestion for the company?

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4.4 Limitations
Team size is relatively small therefore completion of the execution of the
campaign will take time.
Less structured data available as the company is relatively new.
Time restriction in conducting market survey as working officials are often
found outside their offices during lunch hours only.
Since the concept is in early stages, it is difficult to collect data with least
possible error.

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 Chapter - 3

PROJECT DESCRIPTION
DETAILED

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5.1 Project Schedule
Phase-1: Project Conception
(Week 1 and 2: Understanding the business and its operations.)

Introduction about the organization.

Training and understanding of the Lead Management System (LMS).
Brief overview of company’s website and mobile application.
Understanding of the buying process from start to the end.
Brief overview of all the lead generation platforms.

Phase-2: Planning
(Week 3, 4 and 5: Planning of strategies to measure brand awareness and
understanding brand perception.)
Developed a strategy framework to measure the brand awareness and to
understand the brand perception.
Prepared structured questionnaire consisting of both quantitative and
qualitative questions: quantitative will help us to define different consumer
segments whereas qualitative will provide richer context as to why people
fall into each segment.

Phase-3: Devise specific engagement programs

(Week 6 and 7: Devising specific engagement programs.)
Based on the identification of the few of the company’s pain points and the initial
market survey, following strategies has been suggested or recommended:-

Invitation to community events

Data collected through physical marketing can be used to send out invites for
community events. Once the guest will be visiting the property events then we can
engage with them to pitch the property. Also, in the events we can offer discount
promo code along with the cash prize to attract more audience.

Leaflets can be distributed with cabs

Leaflets or pamphlets which we are using for the physical marketing can be
distributed or kept in the back seat of the cabs operating in and around the city.
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Feedback option in mobile application
To understand the perception of the brand amongst our target audience along with
our existing residents. We should add a feedback option in our mobile application
which can be divided into two categories:-
It should be related to the feedback of the UI (User interface) of the mobile
application.
It should be regarding the overall services of our company.

Portable advertising boards

We can hire people to wear the portable advertisements boards on the busy and the
most populated area around the city (MG Road, IFFCO chowk, Galleria Market) to
aggressively spread the awareness about the brand.

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5.3 Work
Discription
Throughout my tenure at CoHo so far, I have worked in spreading the word
through social media platforms like Facebook, Quora, Real Estate websites
etc. Also, generated potential leads and dealt with more than 230 clients who
were looking for the rental accommodation in the city. I initiated the
market survey program to measure the brand awareness and understand brand
perception under the guidance of my company guide, Ms Ritika Goel.
First two weeks were invested to understand the overall operation
of the company and a brief training on lead management system (LMS).
We created content for Real websites and various social media platforms
to generate leads and simultaneously spread awareness amongst the
target audience. Conducted few mystery visits to the competitors
properties to understand their unique selling proposition.
Next two weeks were utilized in identifying the major business centers
and target areas to reach out to the maximum target audience.
Developed a strategy framework to measure the brand awareness
and to understand the brand perception. Also, prepared the
structured questionnaire consisting of both quantitative and qualitative
questions: quantitative will help us to define different consumer
segments whereas qualitative will provide richer context as to why
people fall into each segment.
In the following two weeks, conducted market survey at the 9 prime
business centers of the city. Organized B2B community event
along with the community events team to increase the brand
awareness. Also, converted the maximum leads amongst all the interns
and achieved ‘Intern of the Month’ award in the month of March.
Implemented CoHo ambassador program and spread the awareness
of the same along with the group discounts offers for the interns coming
in the city
for the short stay.

Learning Outcomes

 Rethink, retool and refine the sales process

 Effectively communicate with customer
 Conduct a competitive market analysis and learn how to use it to your
selling advantage
 Chapter - 4

REFERENCES

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References
www.coho.in
Wikipedia
https://coliving.pressbooks.com/chapter/the-role-of-technology-in-
the-co-living-movement/
https://www.dezeen.com/2018/10/16/brave-new-world-shared-
living-shared-housing-space10/
https://www.forbes.com/sites/forbesagencycouncil/2017/05/05/ho
w-the-perception-of-a-good-brand-helps-your-companys-
effectiveness/#369f81ec67ac
https://hbr.org/2014/10/profits-at-the-bottom-of-the-pyramid

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