Term Paper on Consumer Behaviour

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Understanding Consumer Behavior for Purchase of Real Estate (Residential Property)
Term Paper on Consumer Behavior

Submitted by Ms Kiran Joshi – EEPM-04-018

IIM KOZHIKODE

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Table of Contents

I. II. III. IV. V. VI. VII.

Introduction ............................................................................................................................. 3 Objective of the Paper .......................................................................................................... 3 Research Methodology ........................................................................................................ 3 Discussions and findings...................................................................................................... 4 Buying Decision Process Cycle ........................................................................................... 5 Conclusion ........................................................................................................................... 7 Limitation ............................................................................................................................. 8

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I. Introduction

Investment in real estate has seen a change in investors' mindset. Apart from owning a house, people are increasingly looking to buy a second property to earn some investment income out of the property Different people invest in a second property with different motives. For some, second home is to have a relaxing or Chilled out place away from the hustle and bustle of city life. Some people invest in a second home in order to earn rental income or additional income which adds up to their family total income. A customer opting for second home is primarily looking at an opportunity to get away from the day-today hectic city life and enjoy the calm, peaceful atmosphere within the comfort of their home. This means that while making the ultimate choice for first homes, most buyers