Study of Changing Dimensions of housing needs and marketing strategies to persuade consumers to avail loans from Financial Institutions

Home loans are the most easily accessible financial supplement to purchase a person's dream home. The housing finance being a financial service is considered to be influenced by marketing strategies of the marketers. As an outcome of increased competition, the market changed from a sellers’ one to a buyers’ one-where the customer is armed with choice, negotiating power and demanding quality services. In order to get the housing loan the customer has to go through a Credit Appraisal process. Availability of housing finance is one of the key reasons for such a growth in real estate sector. The reason is that the most of Indian peoples are highly depend on the housing finance to purchase a property. This large need of the customers is fulfilled by housing finance companies. The key objectives of this study are to assess the housing problems and needs given the particular housing conditions and market circumstances that exist. The tasks include defining and analyzing the extent of housing needs of Natives living in various environments using existing data sources. The analysis focuses on housing affordability, marketing strategies, overcrowding, and quality and for that how the private and public sectors banks and other housing finance providers used their services. The present study makes an attempt to study the marketing practices adopted by Commercial Banks & Housing Finance Companies. The successful financial services companies share a strong focus and a heavy commitment towards marketing. The modern marketing seeks to attract new customers by promising superior value and to keep current customers by delivering satisfaction. The sound marketing is critical to the success of all organization, whether large or small, profit or non-profit, and domestic or global.