The Impact of Social Media in Consumer Preference of Real Estate Industry in Bangladesh PDF

The Impact of Social Media in Consumer
Preference of Real Estate Industry in

Bangladesh
The Impact of Social Media in Consumer

Preference of Real Estate Industry in
Bangladesh
Submitted To:
Nigar Sultana
Assistant Professor
Department of Marketing
Jahangirnagar University
Submitted by:
Tasmiah Khan
ID: 2343
Department of marketing
December 15, 2014
Letter of Transmittal
December 15, 2014

Nigar Sultana
Assistant Professor
Department of Marketing
Dear Ms. Sultana,

I am pleased to submit the final research paper of BBA on The Impact of Social Media in Consumer
Preference of Real Estate Industry in Bangladesh. I had given careful effort to make the report informative.
The report has been prepared in accordance with your guidance.
Throughout the study I have tried my level best to accommodate as much information and relevant issues
as possible and tried to follow the instructions as you have suggested. I sincerely believe that it will satisfy
your requirements.
The study I conducted has enhanced my knowledge to create an executive report. This report has given me
an exceptional experience that might have immense use in the future.
I am grateful to you for your guidance and kind cooperation at every step of my endeavor on this report. I
shall remain deeply grateful if you kindly take some time to go through the report and evaluate my
performance.
My effort will be reworded only if it adds value to the research literature.
_____________
Sincerely Yours,
Tasmiah Khan
Executive summery
In order to overcome the challenging housing crisis, real estate professionals have had to become more
innovative in the way they reach prospective customers. One of the strategies implemented is leveraging
social media technology. The objective of the research is to identify the impact of social networking sites
& media in consumer preference in case of Real Estate Industry in Bangladesh, how it affects the target
segments preference, attitude and buying behavior. Also to consider the utilization of social media and its
potential role in the real estate sales process.
The research is an exploratory one. Analysis of the findings helps to meet the objectives of this research
related to the impact of social media. This report is based on both primary and secondary data. The primary
data is collected from the respondents within the study area through questionnaire. Besides that as
Secondary data source, various published documents in the books, journals, newspapers and magazines,
and web sites has been helpful for drawing conclusion. For collecting primary data, closed ended structured
questionnaire has been used. The questionnaires were formed as a webpage through the use of a Software
called Qualtrics. Questionnaires were distributed through internet in the form of webpage. Also, some
questionnaires had been handed over to the respondents and later those were included in data set. The main
Hypothesis was There is no impact of social media in consumer preference of real estate industry in
Bangladesh. (Null) and There is impact of social media in consumer preference of real estate industry in
Bangladesh. (Alternative)
The analyzed data have proved the alternative hypothesis to be correct. Also shown that consumers are
getting more comfortable and aware about using social media to consider a real estate related transaction,
organizations related to real estate should be more concerned about using and maintaining social media
communication. Data have shown that people are probably not purchasing real estate directly from social
media platforms but they are considering it as source of diverse information before considering a real estate
purchase. So promoting real estate products through social media will be a wise choice. In many cases it is
quite an efficient and effective way to maintain relationship with the customers as well as promotions. One
of the challenges in any sales organization is finding the right type of clients through prospecting efforts.
Through the social media provides ample probabilities to prospect. Consumers are using customers
feedbacks, organizational feedbacks and reviews to evaluate, so only using social media to promote will
not be enough for an organization. They have to be active in case maintaining reviews and feedbacks. Also
a close eye on the feedbacks forms customers may reveal tiny loopholes that might have been ignored.
In its simplest form, social media enables individuals to share ideas, content, thoughts, and relationships
online. As more organizations embrace social media, tools such as LinkedIn, Facebook and Twitter are
used to directly communicate to buyers in places where they congregate. Social media grew in popularity
out of the need of attracting Internet users by providing compelling content. This content not only connected
individuals to other individuals, groups, organizations and interests, but also created a platform for all to
have a conversation on the content. This type of communication can create greater engagement and deeper,
meaningful networks with people interested in real estate professionals.
Table of Contents:
PART A
Page No
Project Part
1.1 INTRODUCTION
1.2 SIGNIFICANCE OF THE STUDY
1.3 LITERATURE REVIEW
1.4 OBJECTIVE OF THE RESEARCH
1.4.1 Broad Objectives
1.4.2 Specific Objectives
1.5 RESEARCH METHODOLOGY
1.5.1 Source of Data
1.5.2 Quantitative Research
1.5.3 Method of Collecting Primary Data
1.5.4 Sampling Design
1.5.4.1 Target population and Sampling frame
1.5.4.2 Sample Scaling
1.5.4.3 Sample Technique
1.5.4.4 Sample Size
1.5.5 Hypothesis
1.5.6 ANALYSIS OF THE COLLECTED DATA
1.5.6.1 Survey Data Summarization
DATA ANALYSIS
PART B
2.0 DATA ANALYSIS
2.1 HYPOTHESIS 1:
2.1.1 Test 1:
8
8
8
2.1.2 Test 2:
2.2 HYPOTHESIS 2:
9
11
2.2.1 Test 1:
11
2.2.2 Test 2:
12
2.2.3 Test 3:
14
2.2.4 Test 4:
15
2.2.5 Test 5:
16
2.2.6 Test 6:
17
2.2.7 Test 7:
18
2.2.8 Test 8:
19
2.3 HYPOTHESIS 3:
21
2.3.1 Test 1:
21
2.3.2 Test 2:
22
3.0 FINDINGS
23
4.0 LIMITATION OF THE STUDY
24
5.0 CONCLUSION
24
6.0 RECOMMENDATIONS
25
APPENDICES
Part A
1
1.1 INTRODUCTION
There has been significant growth and interest in usage of internet in Bangladesh over the past few years.
Customers are involved with internet for purposes like communication, information, knowledge &
entertainment. Over the years people of Bangladesh started using internet so do social media. Social media
referred as the use of websites to stay socially connected like Facebook, Twitter, Orkut & Google+. These
are some of the most prominent examples of the usage of social media in todays life. Data shows that
Facebook adds 1 new user in Bangladesh in every 20 seconds now [Wearesocial official website at
http://wearesocial.net]. Social medias are already playing a vital role in influencing human behavior.
Through different kinds of social media sites companies under industries like Tech-software,
Manufacturing, Real Estate, Fashion, Non-profit, Automobile, Hospitality etc.; are very carefully
influencing their customers by sharing their product related details. For Example, REHAB (Real Estate &
Housing Association of Bangladesh) has a page in Facebook, before every REHAB fair they create an event
in Facebook with the venue, time & date of the event to promote it over social media to capture public
attention. Social media has not only became a platform of promoting a product but also its creating a huge
amount of awareness among the customers regarding an upcoming product, furthermore the reviews &
feedbacks posted by the customers are very prominent & a very efficient way to get the understanding of
customers attitude towards the whole concept of a product as well as its loopholes.
Social media refers to the means of interactions among people in which they create, share, and exchange
information and ideas in virtual communities and networks. Andreas Kaplan and Michael Haenlein (2010)
define social media as "a group of Internet-based applications that build on the ideological and technological
foundations and that allow the creation and exchange of user-generated content." Furthermore, social media
depends on internet, mobile and web-based technologies to create highly interactive platforms through
which individuals and communities share, co-create, discuss, and modify User-generated content. It
introduces substantial and pervasive changes to communication among organizations, communities and
individuals.
Social media differentiates from traditional/industrial media in many aspects such as quality, reach,
frequency, usability, immediacy and permanence. Social media technologies take on many different forms
including magazines, Internet forums, weblogs, social blogs, microblogging, wikis, networks, podcasts,
photographs or pictures, video, rating and social bookmarking. Technologies include: blogs, picturesharing, blogs, wall-postings, email, instant messaging, music-sharing, crowdsourcing and voice over IP,
to name a few. (Andreas, K., & Michael, H., 2010, p. 61)
The individual consumer has a set of preferences and values whose determination is outside the realm of
economics. They are no doubt dependent upon culture, education, and individual tastes, among a plethora
of other factors. Consumer preferences are defined as the subjective (individual) tastes, as measured by
utility, of various bundles of goods. They permit the consumer to rank these bundles of goods according
to the levels of utility they give the consumer. Note that preferences are independent of income and prices.
Ability to purchase goods does not determine a consumers likes or dislikes. One can have a preference for
Porsches over Fords but only have the financial means to drive a Ford.(Cordo, 2009, p. 1). This research
paper is an attempt to get an understanding of the fact that how much social media can influence a consumer
of Bangladesh in case of their behavior & purchasing decisions patterns toward The Real Estate Industry
of Bangladesh.
2
Real estate is "property consisting of land and the buildings on it, along with its natural resources such as
crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of
real property; (more generally) buildings or housing in general. Also: the business of real estate; the
profession of buying, selling, or renting land, buildings or housing. [Oxford Learners Dictionaries official
website at http://www.oxfordlearnersdictionaries.com]
1.2 SIGNIFICANCE OF THE STUDY
These days, social media constitute one of the most prominent challenges for marketing managers. A recent
study by Socialbakers & BTRC shows that 42281.931 thousand people in Bangladesh uses internet, mostly
to use the social networking sites like Facebook. [BTRC; September, 2014] At the same time, it has been
seen that most companies are taking only limited action in response to this enormous challenge. Social
media are often treated as merely another communication channel whose value potential is unclear;
companies thus have often limited their response towards social media communication. Social media offers
an important opportunity for business to increase brand awareness, raise the profile and image of the
company, and to engage with shoppers to convert them into customers. The social media is one of the rising
stars of the expanding online business world and this forecast continue to increase in the future providing
a major source of traffic for online retail businesses around the world.
Research by Amin, Md., I. (July 12, 2013) reveal that In Bangladesh, during the last decade, the total
volume of Real Estate, Renting and Business service sector increased every year which implies a positive
growth in the sector every year. But, compared to overall GDP growth, this sector expanded at a slower
rate. That is why in overall GDP the contribution of this sector has a downward trend. The overall GDP
contribution of the sector was 7.02% in 2009-2010. In a crude measure, the total volume of the sector was
approximately 26575.74 crore BDT in 2010-2011. The growth in this industry also facilitated a fast growth
in many linkage industries like - glass and glass products industry, brick industry, cement industry, ceramic
industry, iron and steel industry etc. over the last decade. Such consistent growth in the real estate sector is
mainly due to a consistent demand at the consumer end.
It is important to understand that the social networks are not a silver bullet. If the company fails to meet the
image it has been careful to portray, social networks can just as quickly amplify any adverse publicity. The
Real Estate industry of Bangladesh is already using social media but not very effectively yet. The Industry
needs to be focused about shaping their forms through social media.
1.3 LITERATURE REVIEW
Samanta Sarni Tira (2012) on her article named The Spread of Online Culture gave emphasis on the
Online Culture or Cyber-culture. The Online Culture has become the mainstream; people everywhere are
adopting this culture very fast and portraying remarkable changes in their behavior. In Bangladesh alone
more than 3,313,000 people are active members of Facebook and so it should come as no surprise why
some companies have recently started promoting their products via this powerful media. Especially the
telecoms and restaurants are doing a great job in capturing the mind share of their consumers by using
Facebook. Social media became a reliable means to explore the culture, views and lifestyles that influence
consumer behavior. The social media arena is a source to profile a target audience to develop marketing
and advertising strategies. Social media conversations also alert companies to issues that may negatively
affect current market opportunities. (Tira, N. K., 2013a, p. 2)
3
According to a research conducted by Technorati Media (2012) on over 6,000 influencers, 1,200 consumers
and 150 top brand marketers in the United States, Blogosphere ranks higher than social media in influencing
consumer purchase decision. The survey has found that, consumers rank blogs as the third most influential
digital resource (31.1%), behind retail sites (56%) and brand sites (34%), when making their purchase
decisions. The Technorati Media survey has also revealed that over 50% of the digital spending goes for
Facebook, YouTube and Twitter, and 11% on Blogosphere. Surely the percentage shows the influence the
social networking sites are creating, & its getting strong day by day. (Tira, N. K., 2013b)
According to a survey conducted by ING (2012) among 1,500 Dutch consumers Impact of social media,
consumers find social media increasingly trustworthy. 65% said they find the information posted on online
media to be trustworthy. 40% of consumers find posts made on social media to be trustworthy. Also
Informative television programs and newspapers are deemed to have 4 to 5 times as much impact as social
media, with the impact of online news sites and newspaper websites thought to be 3 to 4 times as high. The
impact of traditional media such as informative TV programs and newspapers is lower among consumers
who use social media daily. The impact of these media is nearly 1.5 times lower among frequent users of
social media. It clearly shows that the impact of traditional media on the consumers are deeming as the
consumers are finding online & social media platforms increasingly trustworthy & much more informative
then traditional options. [ING Group official website at http://ing-group.pr.co]
JD Rucker conducted a research called Social Media Effects on the Real Estate Market in 2011, where
he graphically presented the connection between social media and real estate industry. He showed that 32%
of the buyers found their home thought online platforms. But the research was conducted giving emphasis
on the sellers side not buyers side. (Rucker, 2011)
Michael Rodriguez, on his research paper Making Social Media Effective In Real Estate put emphasis
on using the platform of social media for promoting real estate. According to him, one of the challenges in
any sales organization is finding the right type of clients through prospecting efforts. Prospecting, the most
important first step of the sales cycle, is a continuous requirement since the real estate industry is dynamic:
challenging economy, over supply of property, longer sales cycle or unqualified buyers. Real estate
professionals need to capture detailed information on prospective clients in order to gain a better
understanding of their needs and buying process and social media platform provide a great gateway to gain
the information directly from the clients. A well-implemented social media strategy may be an effective
prospecting tool to find qualified potential clients. (Rodriguez, 2011, p. 2)
After a careful review of the literature on the use of social media among businesses, it is clear that social
media has made an impact in modern business practices. Research on social media impact on Real Estate
industry had been done in many countries in the world but anything related to Bangladesh Real Estate
Industry was not found. Bangladesh Real Estate industry is growing and people are becoming more
technologically aware these days. Researches can be attempted to get proper understanding of the impact
of social media in consumer preference in case of Bangladesh Real Estate Industry.
4
1.4 OBJECTIVE OF THE RESEARCH
1.4.1
Broad Objectives
Broadly, the objective of the research is to identify the impact of social networking sites & media in
consumer preference in case of Real Estate Industry in Bangladesh, how it affects the target segments
preference, attitude and purchase pattern.
1.4.2
Specific Objectives
Specifically the objectives will be to identify -
To identify whether the social networking sites can be an option for doing marketing of Real Estate
To identify the impact that social media has created about real estate industry in Bangladesh
To identify the options of using social media as a marketing platform for real estate industry of
Bangladesh
To find out the contribution of Social media in influencing the consumer preference in real estate
industry of Bangladesh
To identify the benefits of using social media as a platform of marketing in real estate industry of
Bangladesh
1.5 RESEARCH DESIGN
The research is an exploratory one. Analysis of the findings helps to meet the objectives of this research
related to the impact of social media. The general concept of this research has been stated from two different
groups. The Real Estate industry in Bangladesh are very widely spread through the country but it is not
possible to study the whole country due to the time & convenience issues, so for the ease of the study only
the metropolitan Dhaka had been chosen as the extent of the study.
1.5.1 Source of Data
This report is based on both primary and secondary data. The primary data is collected from the
respondents within the study area through questionnaire. Besides that as Secondary data source, various
published documents in the books, journals, newspapers and magazines, and web sites has been helpful
for drawing conclusion.
1.5.2 Quantitative Research
This quantitative research employs a survey, which had been conducted within a sample size of 110
respondents whom are assumed to be representatives of the target population. At first, a questionnaire was
developed for conducting survey and pre tested on a smaller group. After correcting the questionnaire, the
survey was conducted with the final questionnaire. Finally, after conducting survey, by using the statistical
software (SPSS), the gathered data was analyzed to discover the hidden patterns and information. Through
the interpretation of these data, some recommendation had been presented.
5
1.5.3 Method of Collecting Primary Data
For collecting primary data, closed ended structured questionnaire has been used. The questionnaires were
formed as a webpage through the use of a Software called Qualtrics. Questionnaires were distributed
through internet in the form of webpage. This questionnaires were provided directly to the respondents as
links and the data was collected automatically in the Software based website. These were collected via
convenience sampling method. Also, some questionnaires had been handed over to the respondents and
later those were included in data set in the website.
1.5.4 Sample Design
The sample design process are explained below1.5.4.1 Target Population and Sampling Frame
According to the data of BTRC around 42281.931 thousand people in Bangladesh use internet which
include both male & female users age group starting from 13-14 to 65-70. (BTCL official website at
http://www.btrc.gov.bd) Also, Dhaka is the most densely populated city in Bangladesh with population of
14,399,000 people, thats 45,000/km2 (Wise, C., n.d.). As smartphones & internet devices are still very
costly devices to use also required technical understandings, its not possible for people from all over the
country like Bangladesh to use them. Having the affordability & ability to use issues, respondents from
Dhaka city area has been chosen for the study. Both male & female age starting from 16-25 category had
been studied. Also income is a very important factor to consider while choosing the respondents as it has
affordability subjects.
Marketers perspective
Element: Consumers who are using social media & interested in real estate
Sampling unit: Selected Households and universities
Extent: Metropolitan Dhaka
Consumers perspective
Element: Consumers who go through the consumption process of the products & services.
Sampling unit: Households and universities
Extent: Metropolitan Dhaka
1.5.4.2 Sample Scaling

The Likert & rank order scaling techniques had been used in designing the questions. 5 point scale had been
used to get the reviews. Through this techniques, it was easy to get the insights from the respondents. Also
dichotomous questions had been used in designing the questions.
6
1.5.4.3 Sampling Technique
For the structured closed-ended questionnaires all the non-probability sampling techniques had been taken.
The convenience sampling, judgmental sampling and snowballing sampling techniques had been used for
the sampling purpose of the research.
1.5.4.4 Sample Size
Calculation for sample size determination by proportions were made as follows
Formula:
Description:
(1 ) 2
=
2
n= required sample size

t= confidence level at 93% (standard value of 1.81)
p= estimated percentage of household the sample belongs to (20%=0.2)
m= margin of error at 7% (standard value of 0.07)
Calculation:
n = 1.81 x .2(1-.2)
.07
So, minimum 107 samples would be required for the study. For the ease of analysis 110 samples had been
chosen as sample size.
1.5.5 Hypothesis
The main Hypothesis is H0 (Null): There is no impact of social media in consumer preference of real estate industry in Bangladesh.
H1 (Alternative): There is impact of social media in consumer preference of real estate industry in
Bangladesh.
To test this hypothesis, five supporting hypothesis had been developed. These will support the main
hypothesis. The main hypothesis will be accepted if these hypothesis are proved to be valid. The supporting
hypothesis areHypothesis 1
H0 : Bangladeshi people have not been positively influenced by real estate promotions through social media
platforms.
H1 : Bangladeshi people have been positively influenced by real estate promotions through social media
platforms.
Hypothesis 2
H0 : Bangladeshi people do not find social media platforms reliable, efficient & effective for gathering real
estate related information and communication.
H1 : Bangladeshi people find social media platforms reliable, efficient & effective for gathering real estate
related information and communication.
Hypothesis 3
H0 : Bangladeshi people have not used social media platforms to purchase real estate.
H1 : Bangladeshi people have used social media platforms to purchase real estate.
7
1.5.6 ANALYSIS OF THE COLLECTED DATA
Collected data is analyzed on the basis of the specific objectives and hypothesis. A conclusion has been
drawn based on the analysis of primary & secondary data. Data analysis of the consumers consists of
consumers awareness, preference and buying behavior regarding related references & promotional
activities. To create questionnaire, collect data & sort the data, software Qualtrics had been used. To analyze
the data for results SPSS had been used.
1.5.6.1 Survey Data Summarization
Hypothesis Testing
The hypothesis testing method was applied to analyze the data at hand. By this procedure, the hypothesis
had been justified by proving through the values.
Frequency
Frequency distribution tables had been used to summarize the gathered data. This is a process where we
recorded the number of times a particular value of a variable occurs. The mean, standard deviation and
other descriptive statistics were also calculated along with the frequency distribution.
Cross tabulation
The cross tabulation is a technique to organize data by groups, categories, or classes, and thus facilitating
comparisons, and a joint frequency distribution of observations on two or more sets of variables. Cross
tabulation analysis had been used to find out the correlation between variables.
Chi Square Test
Allows to test the significance of the analysis of frequency distribution. Thus categorical data on variables
or dichotomous may be statistically analyzed. Calculation of the Chi Square statistics allowed to determine
whether the difference between the observed frequency distributions and the expected distribution could be
attributed to sampling variations.
Pie Charts
Have been used to give a good visual representation of our data. It gives a graphical representation of data
collected at a glance.
Bar Charts
Bas charts have been used in order to get a clear view of the overall scenario of the individual data analysis.
ANOVA
ANOVA is a particular form of statistical hypothesis testing heavily used in the analysis of experimental
data. A statistical hypothesis test is a method of making decisions using data.
Part B
8
2.0 DATA ANALYSIS
Now we will test the supporting hypothesizes through cross tabulation, chi-square. These tests are given
below:
2.1 Hypothesis 1
H0 : Bangladeshi people have not been positively influenced by real estate promotions through social
media platforms.
H1 : Bangladeshi people have been positively influenced by real estate promotions through social media
platforms.
To prove this Hypothesis the following analysis had been initiated 2.1.1 Test 1:
Age * I am positively influenced by the real estate promotions through social media platforms.
Crosstab
I am positively influenced by the real estate promotions through social media
platforms.
Strongly
Disagree
Age
16 - 25
Count
% of
Total
26 35
Count
% of
Total
36 45
Count
% of
Total
46 55
Count
% of
Total
56 and above
Count
% of
Total
Total
Count
% of
Total
Neutral
Agree
Agree
Not Related
Total
14
0.0%
0.0%
8.2%
2.7%
1.8%
12.7%
24
0.9%
4.5%
4.5%
8.2%
3.6%
21.8%
18
28
0.0%
3.6%
5.5%
16.4%
0.0%
25.5%
14
10
36
0.9%
6.4%
12.7%
9.1%
3.6%
32.7%
0.0%
0.0%
4.5%
2.7%
0.0%
7.3%
16
39
43
10
110
1.8%
14.5%
35.5%
39.1%
9.1%
100.0%
9
Interpretation: In order to formulate hypotheses 1, demographic data and survey question no.15 has been
selected. This one is based on age demographic. Where, out of 110 respondents 35.5% respondents agreed
that they are positively influenced by the promotions related to real estate on their social media pages.
Where significantly 39.1% respondent strongly agreed with it. Highest 16.4% out of who strongly agreed
with it was from the age group 36-45. None of the responded strongly disagreed with it whereas 9.1%
respondent didnt answered it due to non-relevance.
Chi-Square Tests
Value
df
Asymp. Sig. (2-sided)
Pearson Chi-Square
26.549a
16
.047
Likelihood Ratio
32.362
16
.009
Linear-by-Linear Association
.661
.416
N of Valid Cases
110
a. 17 cells (68.0%) have expected count less than 5. The minimum expected count is .15.
Interpretation: The following table is the Chi-Squire test which shows that the P-value for this Hypothesis
test is 0.047 which is less than 0.07 (alpha value). So, the null hypotheses which is Bangladeshi people
have not been positively influenced by real estate promotions through social media platforms can be
rejected at 7% significant level.
Visual projection of cross

tabulation data is presented
in the form bar chart here.
10
2.1.2 Test 2:
Income * I am positively influenced by the real estate promotions through social media platforms.
Crosstab
I am positively influenced by the real estate promotions
through social media platforms.
Disagree
Income 21000 - 40000
BDT
41000 - 60000
BDT
61000 - 80000
BDT
81000 - 100000
BDT
101000 and
above BDT
Total
Count
% of
Total
Count
% of
Total
Count
% of
Total
Count
% of
Total
Count
% of
Total
Count
% of
Total
Neutral
Strongly
Agree
Agree
Not
Related
Total
10
25
0.0%
1.8%
9.1%
6.4%
5.5%
22.7%
11
0.9%
4.5%
2.7%
1.8%
0.0%
10.0%
22
0.0%
3.6%
6.4%
8.2%
1.8%
20.0%
16
0.9%
1.8%
6.4%
5.5%
0.0%
14.5%
12
19
36
0.0%
2.7%
10.9%
17.3%
1.8%
32.7%
16
39
43
10
110
1.8%
14.5%
35.5%
39.1%
9.1% 100.0%
Interpretation: This Cross tabulation is based on respondents Income demographic. Where, highest
17.3% out of who strongly agreed with it was from the income group 101000 and above. Highest 10.9%
from who agreed with it was also from the income group 101000 and above. None of the responded strongly
disagreed with it whereas 9.1% respondent didnt answered it due to non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
29.225a
16
.022
Likelihood Ratio
26.988
16
.042
.027
.869
N of Valid Cases
110
11
have not been positively influenced by real estate promotions through social media platforms can be
rejected at 7% significant level.

tabulation data is presented in
the form bar chart here.
Summary of the Hypothesis:

The result indicates that the supporting Null Hypothesis 1: Bangladeshi people have not been positively
influenced by real estate promotions through social media platforms - is rejected. So the alternative
hypothesis had been accepted.
12
2.2 HYPOTHESIS 2:
Hypothesis 2
H0 : Bangladeshi people do not find social media platforms reliable, efficient & effective for gathering real
estate related information and communication.
H1 : Bangladeshi people find social media platforms reliable, efficient & effective for gathering real estate
related information and communication.
In order to analyze Hypothesis 2 question no. 19 to 22 had been analyzed. The details are explained below
2.2.1 Test 1:
Based on Age demography:
Age * Social media has provided me with access to diverse amount of information related to real estate
Crosstab
Social media has provided me with access to diverse amount of information
related to real estate
Strongly
Disagree
Age
16 - 25
Count
% of
Total
26 35
Count
% of
Total
36 45
Count
% of
Total
46 55
Count
% of
Total
56 and above
Count
% of
Total
Total
Count
% of
Total
Neutral
Agree
Agree
Not Related
Total
14
0.0%
0.0%
2.7%
8.2%
1.8%
12.7%
14
24
2.7%
0.9%
12.7%
1.8%
3.6%
21.8%
17
28
2.7%
0.9%
6.4%
15.5%
0.0%
25.5%
17
12
36
0.9%
1.8%
15.5%
10.9%
3.6%
32.7%
0.0%
0.9%
2.7%
3.6%
0.0%
7.3%
44
44
10
110
6.4%
4.5%
40.0%
40.0%
9.1%
100.0%
13
Interpretation: Analysis will start by analyzing question no.19. This one is based on age demographic.
Where, out of 110 respondents 40.0% respondents agreed that Social media has provided them with access
to diverse amount of information related to real estate. Similarly 40.0% respondents strongly agreed with
this. Highest 15.5% out of who agreed with it was from the age group 46-55. Highest 15.5% out of who
strongly agreed with it was from the age group 36-45. None of the responded strongly disagreed with it
whereas 9.1% respondent didnt answered it due to non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
28.608a
16
.027
Likelihood Ratio
35.310
16
.004
.366
.545
N of Valid Cases
110
test is 0.027 which is less than 0.07 (alpha value). So, the null hypotheses which is Bangladeshi people do
not find social media platforms reliable, efficient & effective for gathering real estate related information
and communication can be rejected at 7% significant level.
Visual
projection
of
cross

14
2.2.2 Test 2:
Age * Social media platforms have made communication with the seller more effective
Crosstab
Social media platforms have made communication with the seller more
effective
Neutral
Age
16 - 25
Count
% of Total
26 35
Count
% of Total
36 45
Count
% of Total
46 55
Count
% of Total
56 and above
Count
% of Total
Total
Count
% of Total
Agree
Strongly Agree
Not Related
Total
14
0.0%
3.6%
7.3%
1.8%
12.7%
24
2.7%
7.3%
8.2%
3.6%
21.8%
16
11
28
0.9%
14.5%
10.0%
0.0%
25.5%
11
19
36
1.8%
10.0%
17.3%
3.6%
32.7%
0.0%
2.7%
4.5%
0.0%
7.3%
42
52
10
110
5.5%
38.2%
47.3%
9.1%
100.0%
Interpretation: The second question is no.20. This one is based on age demographic too. Where, out of
110 respondents 47.3% respondents strongly agreed that Social media platforms have made communication
with the seller more effective. 38.2% respondents agreed with this too. Highest 17.3% out of who strongly
agreed with it was from the age group 46-55. Highest 14.5% out of who agreed with it was from the age
group 36-45. None of the responded strongly disagreed with it whereas again 9.1% respondent didnt
answered it due to non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
14.379a
12
.277
Likelihood Ratio
17.636
12
.127
.113
.736
N of Valid Cases
110
test is 0.277 which is more than 0.07 (alpha value). So, the null hypotheses which is Bangladeshi people
15
do not find social media platforms reliable, efficient & effective for gathering real estate related information
and communication cannot be rejected at 7% significant level.

2.2.3 Test 3:
Age * Gathering information through social media platforms is time efficient
Crosstab
Gathering information through social media platforms is time efficient
Disagree
Age
16 - 25
Count
% of Total
26 35
Count
% of Total
36 45
Count
% of Total
46 55
Count
% of Total
56 and above
Count
% of Total
Total
Count
% of Total
Neutral
Agree
Strongly Agree
Not Related
Total
14
0.0%
0.0%
2.7%
8.2%
1.8%
12.7%
14
24
0.9%
0.0%
4.5%
12.7%
3.6%
21.8%
17
28
1.8%
0.0%
15.5%
8.2%
0.0%
25.5%
24
36
0.9%
1.8%
4.5%
21.8%
3.6%
32.7%
0.0%
0.0%
2.7%
4.5%
0.0%
7.3%
33
61
10
110
3.6%
1.8%
30.0%
55.5%
9.1%
100.0%
16
Interpretation: The third question is no.21. This one is based on age demographic too. Where, out of 110
respondents 55.5% respondents strongly agreed that Gathering information through social media platforms
is time efficient. 30.0% respondents agreed with this too. Highest 21.8% out of who strongly agreed with
it was from the age group 46-55. Highest 15.5% out of who agreed with it was from the age group 36-45.
None of the responded strongly disagreed with it whereas again 9.1% respondent didnt answered it due to
non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
28.264a
16
.029
Likelihood Ratio
31.401
16
.012
.644
.422
N of Valid Cases
110
Visual projection of cross tabulation

data is presented in the form bar chart
here.
17
2.2.4 Test 4:
Age * I find real estate related information from social media marketing more reliable than
traditional marketing
Crosstab
I find real estate related information from social media marketing more
reliable than traditional marketing
Neutral
Age
16 - 25
Count
% of Total
26 35
Count
% of Total
36 45
Count
% of Total
46 55
Count
% of Total
56 and above
Count
% of Total
Total
Count
% of Total
Agree
Strongly Agree
Not Related
Total
10
14
0.0%
1.8%
9.1%
1.8%
12.7%
11
24
0.9%
7.3%
10.0%
3.6%
21.8%
20
28
0.9%
6.4%
18.2%
0.0%
25.5%
12
19
36
0.9%
10.9%
17.3%
3.6%
32.7%
0.0%
3.6%
3.6%
0.0%
7.3%
33
64
10
110
2.7%
30.0%
58.2%
9.1%
100.0%
Interpretation: The forth question is no.22. This one is based on age demographic too. Where, out of 110
respondents 58.2% respondents strongly agreed that they find real estate related information from social
media marketing more reliable than traditional marketing. 30.0% respondents agreed with this too. Highest
18.2% out of who strongly agreed with it was from the age group 36-45. Highest 10.9% out of who agreed
with it was from the age group 46-55. None of the responded strongly disagreed with it whereas again 9.1%
Chi-Square Tests
Value
df
Pearson Chi-Square
11.064a
12
.523
Likelihood Ratio
14.609
12
.264
2.240
.135
N of Valid Cases
110
test is 0.029 which is more than 0.07 (alpha value). So, the null hypotheses which is Bangladeshi people
18
do not find social media platforms reliable, efficient & effective for gathering real estate related information
and communication cannot be rejected at 7% significant level.

data is presented in the form bar
chart here.
2.2.5 Test 5:
Based on Income demography:
Income * Social media has provided me with access to diverse amount of information related to real
estate
Crosstab
Social media has provided me with access to diverse amount of
information related to real estate
Strongly
Disagree
Income 21000 - 40000 BDT
Count
% of
Total
41000 - 60000 BDT
Count
% of
Total
Neutral
Agree
Agree
Not Related
Total
10
25
0.9%
0.0%
9.1%
7.3%
5.5%
22.7%
11
1.8%
0.9%
6.4%
0.9%
0.0%
10.0%
19
61000 - 80000 BDT
Count
% of
Total
81000 - 100000 BDT Count

% of
Total
101000 and above
Count
BDT
% of
Total
Total
Count
% of
Total
11
22
1.8%
0.9%
5.5%
10.0%
1.8%
20.0%
16
0.0%
2.7%
5.5%
6.4%
0.0%
14.5%
15
17
36
1.8%
0.0%
13.6%
15.5%
1.8%
32.7%
44
44
10
110
6.4%
4.5%
40.0%
40.0%
9.1%
100.0%
Interpretation: Again its question no.19. This one is based on income demographic now. Where, Highest
13.6% out of who agreed with that Social media has provided them with access to diverse amount of
information related to real estate, was from the income group 101000 and above. Highest 15.5% out of who
strongly agreed with it was from the income group 101000 and above too. None of the responded strongly
disagreed with it whereas again 9.1% respondent didnt answered it due to non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
29.963a
16
.018
Likelihood Ratio
31.351
16
.012
.106
.744
N of Valid Cases
110
20

here.
2.2.6 Test 6:
Income * Social media platforms have made communication with the seller more effective
Crosstab
Social media platforms have made communication with the seller
more effective
Strongly
Neutral
Income
21000 - 40000 BDT
Count
% of Total
41000 - 60000 BDT
Count
% of Total
61000 - 80000 BDT
Count
% of Total
81000 - 100000 BDT
Count
% of Total
101000 and above BDT Count

% of Total
Total
Count
% of Total
Agree
Agree
Not Related
Total
10
25
0.0%
8.2%
9.1%
5.5%
22.7%
11
2.7%
3.6%
3.6%
0.0%
10.0%
22
2.7%
7.3%
8.2%
1.8%
20.0%
10
16
0.0%
5.5%
9.1%
0.0%
14.5%
15
19
36
0.0%
13.6%
17.3%
1.8%
32.7%
42
52
10
110
5.5%
38.2%
47.3%
9.1%
100.0%
21
Interpretation: The second question is no.20. This one is based on income demographic now. Where,
Highest 17.3% out of who strongly agreed with that Social media platforms have made communication
with the seller more effective, was from the income group 101000 and above. Highest 13.4% out of who
agreed with it was from the income group 101000 and above too. None of the responded strongly disagreed
with it whereas again 9.1% respondent didnt answered it due to non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
27.499a
12
.007
Likelihood Ratio
26.736
12
.008
.191
.662
N of Valid Cases
110

22
2.2.7 Test 7:
Income * Gathering information through social media platforms is time efficient
Crosstab
Gathering information through social media platforms is time
efficient
Strongly
Disagree
Income 21000 - 40000 BDT
Count
% of
Total
41000 - 60000 BDT
Count
% of
Total
61000 - 80000 BDT
Count
% of
Total
81000 - 100000 BDT
Count
% of
Total
101000 and above
Count
BDT
% of
Total
Total
Count
% of
Total
Neutral
Agree
Agree
Not Related
Total
16
25
0.9%
0.9%
0.9%
14.5%
5.5%
22.7%
11
0.0%
0.0%
1.8%
8.2%
0.0%
10.0%
22
1.8%
0.9%
8.2%
7.3%
1.8%
20.0%
11
16
0.0%
0.0%
4.5%
10.0%
0.0%
14.5%
16
17
36
0.9%
0.0%
14.5%
15.5%
1.8%
32.7%
33
61
10
110
3.6%
1.8%
30.0%
55.5%
9.1%
100.0%
Interpretation: The third question is no.21. This one is based on income demographic now. Where,
Highest 15.5% out of who strongly agreed with that Gathering information through social media platforms
is time efficient was from the income group 101000 and above. Highest 14.5% out of who agreed with it
was from the income group 101000 and above too. None of the responded strongly disagreed with it
whereas again 9.1% respondent didnt answered it due to non-relevance.
23
Chi-Square Tests
Value
df
Pearson Chi-Square
28.260a
16
.029
Likelihood Ratio
33.041
16
.007
4.239
.040
N of Valid Cases
110

here.
24
2.2.8 Test 8:
Income * I find real estate related information from social media marketing more reliable than
traditional marketing
Crosstab
I find real estate related information from social media marketing
more reliable than traditional marketing
Strongly
Neutral
Income
21000 - 40000 BDT
Count
% of Total
41000 - 60000 BDT
Count
% of Total
61000 - 80000 BDT
Count
% of Total
81000 - 100000 BDT
Count
% of Total
101000 and above BDT Count

% of Total
Total
Count
% of Total
Agree
Agree
Not Related
Total
12
25
0.9%
5.5%
10.9%
5.5%
22.7%
11
0.9%
1.8%
7.3%
0.0%
10.0%
10
22
0.9%
8.2%
9.1%
1.8%
20.0%
16
0.0%
7.3%
7.3%
0.0%
14.5%
26
36
0.0%
7.3%
23.6%
1.8%
32.7%
33
64
10
110
2.7%
30.0%
58.2%
9.1%
100.0%
Interpretation: The forth question is no.22. This one is based on age demographic too. Where, Highest
23.6% out of who strongly agreed with that they find real estate related information from social media
marketing more reliable than traditional marketing was from the income group 101000 and above. Highest
8.2% out of who agreed with it was from the income group 61000-80000. None of the responded strongly
disagreed with it whereas again 9.1% respondent didnt answered it due to non-relevance.
Chi-Square Tests
Value
df
Pearson Chi-Square
19.935a
12
.068
Likelihood Ratio
20.981
12
.051
.207
.649
N of Valid Cases
110
25

the form bar chart here
Summary of the Hypothesis

The results indicate that out of eight tests based on two different demographics, only two tests based on age
demographic could not be rejected but the other six tests had been rejected so it can be concluded that the
supporting Null Hypothesis 2: Bangladeshi people do not find social media platforms reliable, efficient &
effective for gathering real estate related information and communication - is rejected. The alternative had
been accepted.
26
2.3 HYPOTHESIS 3
H0: Bangladeshi people have not used social media platforms to purchase real estate.
H1: Bangladeshi people have used social media platforms to purchase real estate.
To prove this Hypothesis the following analysis had been initiated -
2.3.1 Test 1:
Age * Have you used social media websites to purchase any real estate?
Crosstab
Have you used social media websites to purchase any real
estate?
Yes
Age
16 - 25
Count
% of Total
26 35
Count
% of Total
36 45
Count
% of Total
46 55
Count
% of Total
56 and above
Count
% of Total
Total
Count
% of Total
No
Not Related
Total
14
6.4%
4.5%
1.8%
12.7%
15
24
13.6%
4.5%
3.6%
21.8%
25
28
22.7%
2.7%
0.0%
25.5%
22
11
36
20.0%
10.0%
2.7%
32.7%
7.3%
0.0%
0.0%
7.3%
77
24
110
70.0%
21.8%
8.2%
100.0%
Interpretation: In order to formulate hypotheses 3, demographic data and survey question no.24 has been
selected. This one is based on age demographic. Where, out of 110 respondents 70.0% respondents said
that they have purchased any sort of real estate by using social media pages. 21.8% responded that they
havent. Where significantly 22.7% respondent who said yes, was from the age group 36-45. Here, 8.2%
27
Chi-Square Tests
Value
df
Pearson Chi-Square
15.448a
.051
Likelihood Ratio
19.429
.013
3.283
.070
N of Valid Cases
110
have not used social media platforms to purchase real estate. can be rejected at 7% significant level.

28
2.3.2 Test 2:
Income * Have you used social media websites to purchase any real estate?
Crosstab
Have you used social media websites to purchase any
real estate?
Yes
Income
21000 - 40000 BDT
Count
% of Total
41000 - 60000 BDT
Count
% of Total
81000 - 100000 BDT
Count
% of Total
101000 and above BDT
Count
% of Total
Total
Count
% of Total
Not Related
Total
11
25
10.0%
8.2%
4.5%
22.7%
11
5.5%
4.5%
0.0%
10.0%
16
22
14.5%
3.6%
1.8%
20.0%
15
16
13.6%
0.9%
0.0%
14.5%
29
36
26.4%
4.5%
1.8%
32.7%
77
24
110
70.0%
21.8%
8.2%
100.0%
Count
% of Total
61000 - 80000 BDT
No
Interpretation: This one is based on income demographic. Where significantly 26.4% respondent who
responded that they have purchased any sort of real estate by using social media pages, was from the income
group 101000 and above. Here, 8.2% respondent didnt answered it due to non-relevance.
Chi-Square Tests
Asymp.
Sig. (2Value
df
sided)
Pearson Chi-Square
19.547a
.012
Likelihood Ratio
20.614
.008
11.039
.001
N of Valid Cases
110
29
have not used social media platforms to purchase real estate. can be rejected at 7% significant level.
The result indicates that the supporting Null Hypothesis 3: Bangladeshi people have not used social media
platforms to purchase real estate - is rejected. So the alternative hypothesis had been accepted.

the form bar chart here
Summary of the Hypothesis

Because all the supporting Null Hypothesis had been rejected and alternative had been accepted so in can
be established that the main Null Hypothesis There is no impact of social media in consumer preference
Over all Summary of the Hypothesis

Because all the supporting Null Hypothesis had been rejected and alternative had been accepted so in can
be established that the main Null Hypothesis There is no impact of social media in consumer preference
of real estate industry in Bangladesh is rejected and the main Alternative Hypothesis There is impact of
social media in consumer preference of real estate industry in Bangladesh had been accepted.
30
3.0 FINDINGS:
A major objective on the research was to shed light on the impact that social media has created in
influencing consumer preference and decisions. Keeping that in mind the concluded data have provided us
with imperative information.
Usage of Social Media and Its Influence
Data clearly give us a view of how significantly people are using social media platforms. Not only they are
using it for communication purpose but also they are using it extensively as a source of information. 47%
people said that they use social media sites to gather information about products regularly. Also people are
more comfortable to receive any form of content or information through social media more than other forms
like, email or mobile text.
A great amount of people are accepting the fact that they are somehow positively influenced by the
promotional contents of social media, its also the same for specifically real estate industry.
Reliable and Effective Form of Gathering Information and Maintaining Communication
People find social media a reliable source to collect and analyze information related to products. During
the process of gathering and analyzing information, they go through the organizations given information
and feedbacks, customers feedback, reviews and references. All these together provide a content of
reliability and assurance in consumers mind. The results have shown that during gathering and analyzing
real estate related information from social media sites consumers mostly checked organizations feedback
and customers feedback. Also as feedbacks and responses are provided rapidly and it provides option for
direct communication, consumers are finding it more effective form of communication with the seller.
Time Efficient and Diversity
40.0% people strongly agreed that social media platform provide diverse amount of information about real
estate than any other form of information source. Related needed informations are mostly available in the
webpages, for more information they even can ask directly to the organization. As, a large amount of
information can be sorted from one source, it results in time efficiency.
Purchase Decision
70% people have said that they have taken purchased decision of some form real estate by using social
media. The noticeable factor is most of the people who have said that they are positively influenced by real
estate promotions trough social or they have used social media to purchase real estate, are from the age
group 36-45 and 46-55 also they share the same income group of 101000 and above.
4.0 LIMITATION OF THE STUDY
The study is based on data collected from Dhaka City area only. So the findings of the study are likely not
to represent the overall situation of the market in Bangladesh as the data belongs to a particular urban area
only. The amount of money and time needed to conduct the research properly in a massive manner, was
another constraint. Accessibility and convenience was an issue in case of conducting the research, as the
responses and results were recorded and analyzed as per accessibility and convenience. The paper is mostly
31
based on the quantitative data, a thorough research based on both qualitative and quantitative data will be
able to represent the scenario more appropriately.
5.0 CONCLUSION
This research paper provides a foundation for understanding social media and its potential impact on
reaching buyers in the real estate industry. In the early stages of the utilization of social media technology,
real estate sales professionals should not underestimate its eventual influence. With a challenging business
environment, a greater number of competitors and more knowledgeable buyers, real estate professionals
need to leverage the most current technology and implement social media in order to increase identification
of potential customers.
The market is shifting, thus, it is necessary for real estate professionals to use social media to build a
community to connect with clients and partners within the industry. Embracing social media enables real
estate professionals to create new connections, create conversations and build trusted relationships with
those connections. Real estate professionals who demonstrate credibility through social media can yield
more prospects being reached in a shorter amount of time, which will have a measureable impact on sales
output.
6.0 RECOMMENDATIONS
As the analyzed data clearly shows that consumers are getting more comfortable and aware about using
social media to consider a real estate related transaction, organizations related to real estate should be more
concerned about using and maintaining social media communication. Data have shown that people are
probably not purchasing real estate directly from social media platforms but they are considering it as source
of diverse information before considering a real estate purchase. So Best practices on integrating social
media can provide real estate organizations a positive impact in the sales process.
Understanding Social Media and Its Use
This social media network will provide opportunities to develop new relationships, build brand awareness
and create a competitive advantage. In its simplest form, social media enables individuals to share ideas,
content, thoughts, and relationships online. As more organizations embrace social media, tools such as
Facebook and Twitter, are used to directly communicate to buyers in places where they congregate. Social
media grew in popularity out of the need of attracting Internet users by providing compelling content. This
content not only connected individuals to other individuals, groups, organizations and interests, but also
created a platform for all to have a conversation on the content. Social media enables individuals to be part
of a collaborative conversation in order to provide mutually beneficial value in a trusted business
environment. This type of communication can create greater engagement and deeper, meaningful networks
with people interested in real estate professionals. The result is not just more prospects, but more qualified
prospects.
Prospecting Efforts
One of the challenges in any sales organization is finding the right type of clients through prospecting
efforts. Prospecting, the most important first step of the sales cycle, is a continuous requirement since the
real estate industry is dynamic: challenging economy, over supply of property, longer sales cycle or
32
unqualified buyers. Real estate professionals need to capture detailed information on prospective clients in
order to gain a better understanding of their needs and buying process. Once this information is obtained,
the next and equally challenging step is to qualify the prospect. A well-implemented social media strategy
may be an effective prospecting tool to find qualified potential clients. Through the use of value-added
content aimed at providing qualified prospects information they need, social media provides a foundation
of shared interests and mutual trust. By qualifying prospects, real estate professionals can focus on ideal
clients and, as a result, may minimize time wasted on less-than-ideal prospects thereby leading to the
efficient conversion of qualified prospects.
Best Practices for Implementing Social Media
Adding a social media strategy is critical to doing business, especially when prospecting in a challenging
economy. The following are some of the best practices on how to implement social media in real estate.
First, pinpoint where social media can help improve interaction with the real estate community. This means
starting with content that is value added. The target here is primarily attracting new customers or potential
influencers. Therefore, real estate professionals should write about what others in the community are
interested in learning about (i.e., existing home sales, current tax laws or specific geographic regions).
Second, real estate professionals need to think differently about how they communicate with prospects and
others in the community. Real estate professionals can accomplish this by coordinating webinars or interest
based webpages with their prospects in order to share ideas on a specific topic and create a conversation.
These provide a means whereby customers can interact via social technology, enabling them to feel like
they have immediate and direct access to a professional. These are also a powerful tool in distributing
important content and attracting buyers to a specific area or a specific home.
Third, real estate professionals can engage clients in conversations via Twitter, blogs or other industryspecific network tools. One of the biggest challenges in any social media initiative is determining which
channels will be the most effective. The simplest approach is to go where other real estate professionals
are. Real estate professionals need to be able to get out of the typical approaches and feel comfortable
participating in conversations with social customers through effective social media usage.
Fourth, as with any technology endeavor, it is important to be patient when implementing a social media
initiative. Building a community of loyal followers takes time. Through interaction, organizations can
provide vital information to prospective buyers and build credibility within a community. As a result, not
only will the social community grow, but the opportunities to generate more sales will grow as well.
APPENDICES
REFERENCES
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d. Definition
of
Real
Estate.
(n.d.).
Retrieved
August
12,
2014,
from
http://www.oxforddictionaries.com/definition/english/real-estate
e. Giessen, C. V. D. (November 15, 2012). Consumes find social media increasingly trustworthy.
Retrieved from http:// http://ing-group.pr.co/34147-consumers-find-social-media-increasinglytrustworthy
f. Internet Subscribers in Bangladesh September, 2014. Retrieved 15 November 2014, from
http://www.btcl.gov.bd
g. Kemp, S. (2012, November 27). Social, Digital, Mobile in Bangladesh. Retrieved from
http://wearesocial.net/tag/social-networks
h. Tira, S. S. (2013a). The Spread of Online Culture. Bangladesh Brand Forum 1(1), p, 2
i. Tira, S. S. (2013b). The Spread of Online Culture. Bangladesh Brand Forum 1(1), p, 3
j. Wise, C. (n.d.) The Worlds Densest Megacities [Web log Post]. Retrieved from
http://www.forbes.com/pictures/edgl45fdlj/no-1-dhaka-bangladesh/
k. Rodriguez, Michael and Robert Peterson (2011), Generating Leads Via Social CRM: Early Best
Practices for B2B Sales, National Conference in Sales Management, Orlando, FL.
Research Questionnaire on
The Impact of Social Media in Consumer Preference of Real

Estate Industry in Bangladesh
This questionnaire is prepared to collect primary data about a research on The impact of social media in
consumer preference of real estate industry in Bangladesh. Your response will be of great benefit in
accomplishing this research. Your identity will remain confidential. Your honest answers/opinions will be
highly appreciated.
Please check the appropriate options.

General Subject Information:
Gender:
Age:
Male
16 25
Female
26 35
36 45
46 55
56 and above
Income (All figures are given in thousands):

21- 40
41 60
61 80
81 100
101 and above
Survey Questions
(Check all that apply)
1. Do you use social media websites? (i.e. Facebook, Twitter, MySpace, etc.)
Yes
No
2. If so, which website(s) do you use? Please check all that apply.
Facebook
Twitter
Google+
MySpace
Other (please specify): _____________________________________________
3. Please indicate your social media website usage by ranking the following websites? (1=
being most preferred - 4=being least preferred)
______Facebook
______Twitter
______Google+
______MySpace
4. On average, how often do you visit your social media page(s) per day?
1-5
6-10
11-15
15-20
21 and above
5. Please rank the following in order of preferred method to receive content

(info/tips/updates etc.) (1= being most preferred; 3=being least preferred)
____Social Media Websites
____Mobile Text
____Email
6. Have you noticed promotional elements in your social media page (s)?
Yes
No
7. Have you noticed promotions related to real estate in your social media page (s)?
Yes
No
8. Did you use social media platforms to gather information about products?
Yes
No
9. How often do you use your social media page (s) to gather information about products?
Regularly
Often (I visit the site several times per week)
Rarely (I visit the site once or more per month)
Infrequently (Less than once a month)
10. Social media has improved my access to information Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
11. Information gathered from social media platforms about products are reliable Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
12. Information gathered from social media platforms about products are more reliable than
any other source Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
13. Your level of reliability on information gathered from social media has developed by (Please rank order)
___Organizations Feedbacks
___Customers Feedback
___Reviews
___Reference from acquaintances
14. Have you used social media sites to gather information related to real estate?
Yes
No
If, yes then answer question no. 15 to 23
15. I am positively influenced by real estate promotions through social media platforms
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
16. What did you analysed to gather information from the social media sites? (Please check
all that apply)
Organizations given information
Organizations Feedbacks
Customers Feedback
Reviews
Reference from acquaintances
17. Information gathered from social media platforms about real estate are more reliable than
any other source Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
18. Information gathered from social media platforms about real estate are more reliable
because - (Please check all that apply)
Organizations given information
Customers Feedback
Reviews
19. I find social media websites more easily accessible than any other source Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
20. Social media has provided me with access to diverse amount of information related to
real estate Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
21. Social media platforms have made communication with the seller more effective Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
22. Gathering information through social media platforms is time efficient -
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
23. I find real estate related information from social media marketing more reliable than
traditional marketing Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
24. Have you used social media websites to purchase any real estate?
Yes
No
____________________________________________________
Thank You!
Your feedback and input is always appreciated.
Thank you for participating in this survey
Table and Frequencies

Appendices 1
Do you use social media websites? (i.e. Facebook, Twitter, MySpace, etc.)
Frequency
Valid
Yes
Percent
110
Valid Percent
100.0
Cumulative Percent
100.0
100.0
Appendices 2
If so, which website(s) do you use? Please check all that apply.
Websites
Frequency
Facebook
Valid Percent
Cumulative Percentage
109
99.1
99.1
Twitter
35
31.8
31.8
Google+
68
61.8
61.8
MySpace
8.2
8.2
Other
.9
.9
Appendices 3
Please indicate your social media website usage by ranking the following websites? (1= being most
preferred - 4=being least preferred)
All figures are given in frequencies
Being most
preferred (In
frequency)
Preferred (In
frequency)
Least preferred
(In frequency)
Being least
preferred (In
frequency)
Cumulative
percentage
Facebook
88
20
100
Twitter
19
90
100
Google+
108
100
MySpace
108
100
Appendices 4
On average, how often do you visit your social media page(s) per day?
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
1-5
28
25.5
25.5
25.5
6 - 10
21
19.1
19.1
44.5
11 - 15
35
31.8
31.8
76.4
16 - 20
23
20.9
20.9
97.3
2.7
2.7
100.0
110
100.0
100.0
21 and above
Total
Appendices 5
Please rank the following in order of preferred method to receive content (info/tips/updates etc.) (1=
being most preferred; 3=being least preferred)
Being most preferred
(In frequency)
Preferred (In
frequency)
Least preferred (In

frequency)
Cumulative
percentage
Social Media Websites
86
12
12
100
Mobile Test
12
50
48
100
Email
12
48
50
100
Appendices 6
Have you noticed promotional elements in your social media page (s)?
Frequency
Valid
Yes
Percent
110
100.0
Valid Percent
Cumulative Percent
100.0
100.0
Appendices 7
Have you noticed promotions related to real estate in your social media page (s)?
Frequency
Valid
Yes
Percent
Cumulative Percent
106
96.4
96.4
96.4
3.6
3.6
100.0
110
100.0
100.0
No
Total
Valid Percent
Appendices 8
Did you use social media platforms to gather information about products?
Frequency
Valid
Yes
Percent
Cumulative Percent
102
92.7
92.7
92.7
7.3
7.3
100.0
110
100.0
100.0
No
Total
Valid Percent
Appendices 9
How often do you use your social media page (s) to gather information about products?
Frequency
Valid
Regularly
Often (I visit the site several times
per week)
Rarely (I visit the site once or more
per month)
Infrequently (Less than once a
month)
Total
Percent
Valid Percent
Cumulative Percent
41
37.3
37.3
37.3
32
29.1
29.1
66.4
27
24.5
24.5
90.9
10
9.1
9.1
100.0
110
100.0
100.0
Appendices 10
Social media has improved my access to information
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Strongly Disagree
1.8
1.8
1.8
Disagree
2.7
2.7
4.5
Neutral
15
13.6
13.6
18.2
Agree
60
54.5
54.5
72.7
Strongly Agree
30
27.3
27.3
100.0
110
100.0
100.0
Total
Appendices 11
Information gathered from social media platforms about products are reliable
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Strongly Disagree
.9
.9
.9
Disagree
1.8
1.8
2.7
Neutral
15
13.6
13.6
16.4
Agree
54
49.1
49.1
65.5
Strongly Agree
38
34.5
34.5
100.0
110
100.0
100.0
Total
Appendices 12
Information gathered from social media platforms about products are more reliable than any other source
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Disagree
8.2
8.2
8.2
Neutral
12
10.9
10.9
19.1
Agree
50
45.5
45.5
64.5
Strongly Agree
39
35.5
35.5
100.0
110
100.0
100.0
Total
Appendices 13
Your level of reliability on information gathered from social media has developed by - (Please rank order)
Rank 1
Rank 2
Rank 3
Rank 4
Organizations
Feedbacks
27.3%
36.4%
36.4%
0%
Customers Feedback
36.4%
63.6%
0%
0%
Reviews
36.4%
0%
63.6%
0%
0%
0%
0%
100%
Reference from
acquaintances
Appendices 14
Have you used social media sites to gather information related to real estate?
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Yes
100
90.9
90.9
90.9
No
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 15
I am positively influenced by real estate promotions through social media
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Disagree
1.8
1.8
1.8
Neutral
16
14.5
14.5
16.4
Agree
39
35.5
35.5
51.8
Strongly Agree
43
39.1
39.1
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 16
What did you analyzed to gather information from the social media sites? (Please check all that apply)
Organization's Given Information
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
44
40.0
40.0
40.0
Non Checked
56
50.9
50.9
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Organization's Feedback
Frequency
Valid
Checked
Percent
Cumulative Percent
100
90.9
90.9
90.9
10
9.1
9.1
100.0
110
100.0
100.0
Not Related
Total
Valid Percent
Customer's Feedback
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
74
67.3
67.3
67.3
Non Checked
26
23.6
23.6
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Review
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
68
61.8
61.8
61.8
Non Checked
32
29.1
29.1
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total

Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
14
12.7
12.7
12.7
Non Checked
86
78.2
78.2
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 17
Information gathered from social media platforms about real estate are more reliable than any other
source
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Strongly Disagree
1.8
1.8
1.8
Disagree
5.5
5.5
7.3
Neutral
15
13.6
13.6
20.9
Agree
48
43.6
43.6
64.5
Strongly Agree
29
26.4
26.4
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 18
Information gathered from social media platforms about real estate are more reliable because - (Please
check all that apply)
Organization's given information
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
44
40.0
40.0
40.0
Non Checked
56
50.9
50.9
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Organization's Feedback
Frequency
Valid
Checked
Non Checked
Not Related
Total
Percent
Valid Percent
Cumulative Percent
94
85.5
85.5
85.5
5.5
5.5
90.9
10
9.1
9.1
100.0
110
100.0
100.0
Customer's Feedback
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
70
63.6
63.6
63.6
Non Checked
30
27.3
27.3
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Review
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
58
52.7
52.7
52.7
Non Checked
42
38.2
38.2
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total

Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Checked
14
12.7
12.7
12.7
Non Checked
86
78.2
78.2
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 19
I find social media websites more easily accessible than any other source
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Disagree
7.3
7.3
7.3
Neutral
5.5
5.5
12.7
Agree
39
35.5
35.5
48.2
Strongly Agree
47
42.7
42.7
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 20
Social media has provided me with access to diverse amount of information related to real estate
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Disagree
6.4
6.4
6.4
Neutral
4.5
4.5
10.9
Agree
44
40.0
40.0
50.9
Strongly Agree
44
40.0
40.0
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 21
Social media platforms have made communication with the seller more effective
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Neutral
5.5
5.5
5.5
Agree
42
38.2
38.2
43.6
Strongly Agree
52
47.3
47.3
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 22
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Disagree
3.6
3.6
3.6
Neutral
1.8
1.8
5.5
Agree
33
30.0
30.0
35.5
Strongly Agree
61
55.5
55.5
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 23
I find real estate related information from social media marketing more reliable than traditional marketing
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Neutral
2.7
2.7
2.7
Agree
33
30.0
30.0
32.7
Strongly Agree
64
58.2
58.2
90.9
Not Related
10
9.1
9.1
100.0
110
100.0
100.0
Total
Appendices 24
Have you used social media websites to purchase any real estate?
Frequency
Valid
Percent
Valid Percent
Cumulative Percent
Yes
77
70.0
70.0
70.0
No
24
21.8
21.8
91.8
8.2
8.2
100.0
110
100.0
100.0
Not Related
Total
Graphs and Charts:

Appendices 25
Demographic Data (Gender)

90
80
81
70
60
50
40
29
30
20
10
0
Gender
Male
Female
Appendices 26
Demographic Data (Age)

40
35
36
30
28
25
24
20
15
10
14
8
5
0
Age
16-25
26-35
36-45
46-55
56 and above
Appendices 27
Demographic Data (Income)

40
35
36
30
25
25
20
22
15
16
10
11
5
0
Income
21000-40000 BDT
41000-60000 BDT
61000- 80000 BDT
81000- 100000
101000 and above
Appendices 27
Do you use social media websites? (i.e. Facebook, Twitter,

MySpace, etc.)
120
100
110
80
60
40
20
0
0
Yes
No
Appendices 27
Which website(s) do you use? Please check all that apply

120
109
100
80
68
60
40
35
20
0
frequency
Facebook
Twitter
Google+
MySpace
Others
Appendices 28
Please indicate your social media website usage by ranking

the following websites? (1= being most preferred - 4=being
least preferred)
120
108
100
80
108
90
88
60
40
20
20
19
2
0
Facebook
Twitter
Preferred
Google+
Least preferred
MySpace
Being least preferred
Appendices 29
On average, how often do you visit your social media

page(s) per day?
30
28
25
23
20
21
15
10
5
3
0
Visit per day
1-5 Times
6- 10 Times
16- 20Times
21 and above
Appendices 30
Please rank the following in order of preferred method to

receive content (info/tips/updates etc.) (1= being most
preferred; 3=being least preferred)
100
90
80
86
70
60
50
50
40
48
48
30
20
10
12
12
12
12
0
Social Websites
Mobile Text
Preferred
Email
Least preferred
50
Appendices 31
Have you noticed promotional elements in your social

media page (s)?
120
110
100
80
60
40
20
0
0
Yes
No
Appendices 32
Have you noticed promotions related to real estate in your

social media page (s)?
120
100
106
80
60
40
20
4
0
Noticing promotions related to real estate on social media
Yes
No
Appendices 33
Did you use social media platforms to gather

information about products?
120
100
102
80
60
40
20
8
0
Use social media to gather information about Product
Yes
No
Appendices 34
How often do you use your social media page (s) to gather
information about products?
45
40
35
30
25
20
15
10
5
0
How often do you use social media to gather
information
Regularly
Often (I visit the site several times per week)
Rarely (I visit the site once or more per month)
Infrequently (Less than once a month)
Appendices 35
Social media has improved my access to information

70
60
60
50
40
30
30
20
15
10
2
0
Social media improved access to information
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Appendices 36
Information gathered from social media platforms about

products are reliable
60
54
50
40
30
20
15
10
1
0
Information gathered from social media about
products are reliable
Strongly Disagree
Disagree
Neutral
Agree
Appendices 37

products are more reliable than any other source
60
50
50
40
30
20
10
0
12
0
Information gathered from social media about
products are more reliable than any other sources
Strongly Disagree
Disagree
Neutral
Agree
Appendices 38
Your level of reliability on information gathered from social

media has developed by - (Please rank order)
120
100
110
80
60
70
70
40
40 40
20
40
40
30
0
0
Customers Feedback
Rank 1
Rank 2
Reviews
Rank 3
Rank 4
Reference from
acquaintances
Appendices 39
Have you used social media sites to gather information

related to real estate?
120
100
100
80
60
40
20
10
0
Use social media to gather information related to real estate
Yes
No
Appendices 40
I am positively influenced by real estate promotions

through social media
50
45
40
43
39
35
30
25
20
15
16
10
5
10
0
0
Positively influenced
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 41
What did you analysed to gather information from the

social media sites? (Please check all that apply)
120
100
100
80
86
74
60
68
56
40
44
20
32
26
10
10 10
10
10
14
10
0
Organizations given
information
Organizations
Feedbacks
Checked
Customers
Feedback
Reviews
Non Checked
Reference from
acquaintances
Not Related
Appendices 42

real estate are more reliable than any other source
60
50
48
40
30
29
20
15
10
10
0
Information gathered from social media are more reliable than any other source
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 43

real estate are more reliable because
100
90
94
80
86
70
70
60
50
40
58
56
44
42
30
30
20
10
10
10
10
10
14
10
0
Organizations given
information
Organizations
Feedbacks
Checked
Customers
Feedback
Reviews
Non Checked
Reference from
acquaintances
Not Related
Appendices 44
I find social media websites more easily accessible than any

other source
50
45
47
40
39
35
30
25
20
15
10
5
10
0
Social media websites are easily accessible
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 45
Social media has provided me with access to diverse

amount of information related to real estate
50
45
44
40
44
35
30
25
20
15
10
10
0
Social media provides diverse amount of information related to real estate
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 46
Social media platforms have made communication with the

seller more effective
60
50
52
40
42
30
20
10
0
10
0
Communication with the seller more effective
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 47
Gathering information through social media platforms is

time efficient
70
60
61
50
40
30
33
20
10
0
10
0
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 47
I find real estate related information from social media

marketing more reliable than traditional marketing
70
60
64
50
40
30
33
20
10
0
10
0
Social media marketing more reliable than traditional marketing
Strongly Disagree
Disagree
Neutral
Agree
Strongly Agree
Not Related
Appendices 48
Have you used social media websites to purchase any real

estate?
90
80
77
70
60
50
40
30
20
24
10
10
0
Purchase real estate through social media
Yes
No
Not Related
Appendices 49
Descriptives
Income
95% Confidence Interval for
Mean
N
Mean
Std. Deviation
Std. Error
Lower Bound
Upper Bound
Minimum
Maximum
Yes
77
3.5844
1.42672
.16259
3.2606
3.9082
1.00
5.00
No
24
2.5000
1.56038
.31851
1.8411
3.1589
1.00
5.00
2.3333
1.73205
.57735
1.0020
3.6647
1.00
5.00
110
3.2455
1.55738
.14849
2.9512
3.5398
1.00
5.00
Not Related
Total
ANOVA
Income
Sum of Squares
Between Groups
df
Mean Square
29.671
14.836
Within Groups
234.701
107
2.193
Total
264.373
109
Sig.
6.764
.002
Here Income is a dependent

variable whereas purchasing
real estate is considering as a
factor.

The Impact of Social Media in Consumer Preference of Real Estate Industry in Bangladesh PDF

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The Impact of Social Media in Consumer

Preference of Real Estate Industry in

The Impact of Social Media in Consumer

December 15, 2014

Dear Ms. Sultana,

1.2 SIGNIFICANCE OF THE STUDY

1.3 LITERATURE REVIEW

1.4 OBJECTIVE OF THE RESEARCH

1.4.1 Broad Objectives

1.4.2 Specific Objectives

1.5 RESEARCH METHODOLOGY

1.5.1 Source of Data

1.5.2 Quantitative Research

1.5.3 Method of Collecting Primary Data

1.5.4 Sampling Design

1.5.4.1 Target population and Sampling frame

1.5.4.2 Sample Scaling

1.5.4.3 Sample Technique

1.5.4.4 Sample Size

1.5.6 ANALYSIS OF THE COLLECTED DATA

1.5.6.1 Survey Data Summarization

4.0 LIMITATION OF THE STUDY

1.5.4.2 Sample Scaling

n= required sample size

Asymp. Sig. (2-sided)

Visual projection of cross

Asymp. Sig. (2-sided)

Visual projection of cross

Summary of the Hypothesis:

Asymp. Sig. (2-sided)

tabulation data is presented in

Asymp. Sig. (2-sided)

Visual projection of cross

Asymp. Sig. (2-sided)

Visual projection of cross tabulation

Asymp. Sig. (2-sided)

Visual projection of cross tabulation

41000 - 60000 BDT

61000 - 80000 BDT

81000 - 100000 BDT Count

Asymp. Sig. (2-sided)

Visual projection of cross tabulation

21000 - 40000 BDT

41000 - 60000 BDT

61000 - 80000 BDT

81000 - 100000 BDT

101000 and above BDT Count

Asymp. Sig. (2-sided)

Visual projection of cross

41000 - 60000 BDT

61000 - 80000 BDT

81000 - 100000 BDT

101000 and above

Asymp. Sig. (2-sided)

Visual projection of cross tabulation

21000 - 40000 BDT

41000 - 60000 BDT

61000 - 80000 BDT

81000 - 100000 BDT

101000 and above BDT Count

Asymp. Sig. (2-sided)

Visual projection of cross