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    Shodh - Market Research For Econmy Housing: Course Instructor: Prof. Aswathy Asokan

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    SIDDHANT MOHAPATRA
    Shodh, a market research firm, conducted a study on the housing market in Bengaluru to understand demand for economic housing. They used a mixed methods approach including qualitative research like focus groups and expert interviews, as well as primary and secondary research. Focus groups with potential customers in different demographic segments helped understand consumer needs, expectations, and behaviors. Expert interviews provided insights into market sentiments, opportunities, and threats. Primary research was also conducted to assess demand. By analyzing data from these various sources, Shodh was able to estimate demand for economic housing by identifying target customer groups and optimal pricing strategies.

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    Shodh - Market Research For Econmy Housing: Course Instructor: Prof. Aswathy Asokan

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    SIDDHANT MOHAPATRA
    49 views3 pages
    Shodh, a market research firm, conducted a study on the housing market in Bengaluru to understand demand for economic housing. They used a mixed methods approach including qualitative research like focus groups and expert interviews, as well as primary and secondary research. Focus groups with potential customers in different demographic segments helped understand consumer needs, expectations, and behaviors. Expert interviews provided insights into market sentiments, opportunities, and threats. Primary research was also conducted to assess demand. By analyzing data from these various sources, Shodh was able to estimate demand for economic housing by identifying target customer groups and optimal pricing strategies.

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    Shodh, a market research firm, conducted a study on the housing market in Bengaluru to understand demand for economic housing. They used a mixed methods approach including qualitative research like focus groups and expert interviews, as well as primary and secondary research. Focus groups with potential customers in different demographic segments helped understand consumer needs, expectations, and behaviors. Expert interviews provided insights into market sentiments, opportunities, and threats. Primary research was also conducted to assess demand. By analyzing data from these various sources, Shodh was able to estimate demand for economic housing by identifying target customer groups and optimal pricing strategies.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    49 views3 pages

    Shodh - Market Research For Econmy Housing: Course Instructor: Prof. Aswathy Asokan

    Uploaded by

    SIDDHANT MOHAPATRA
    Shodh, a market research firm, conducted a study on the housing market in Bengaluru to understand demand for economic housing. They used a mixed methods approach including qualitative research like focus groups and expert interviews, as well as primary and secondary research. Focus groups with potential customers in different demographic segments helped understand consumer needs, expectations, and behaviors. Expert interviews provided insights into market sentiments, opportunities, and threats. Primary research was also conducted to assess demand. By analyzing data from these various sources, Shodh was able to estimate demand for economic housing by identifying target customer groups and optimal pricing strategies.

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    of 3

    SHODH – MARKET RESEARCH FOR ECONMY

    HOUSING

    Course Instructor:
    Prof. Aswathy Asokan

    By:
    MBA07188 Ankit Nag
    MBA07190 Aparna Jha
    MBA07202 Ishan Dhiman
    MBA07212 Manik Mittal
    MBA07217 Nikhil Joshi
    MBA07227 Siddhant Mohapatra
    1. Are the research designs proposed by Shodh appropriate for this type of project?

    Analysis of the proposed methods by Shodh


    • The research was helpful in competitive analysis to gain insights into the market, prices,
    and products.
    • Research plays a vital role in studying the time-based absorption patterns of economy
    houses in current running projects by rivals.
    • It also helps us understand the demand in the future and the ideal prices they can offer
    to the customers.

    Qualitative Analysis: Shodh conducted interviews within focused groups with experts and did
    primary research for the project, and all played a significant role.

    Focused groups
    • From the focused groups, we can very well understand the customer expectations and
    requirements as the interview was done with those who are themselves will be the target
    people.
    • Also, the interview can be beneficial for the customer behaviour analysis.

    Expert Interview
    • By interviewing with the experts, we can understand the market sentiments as the
    experts in these fields give insights about the market.
    • Also, we can understand the opportunities and threats from the market and competition.

    Primary Research
    • Demand for economical housing

    2. How should Shodh collect information on competitor activity and plans?


    Shodh could collect information on competitor activity and plans in the following ways:
    • Information like their ongoing and upcoming projects, offerings and pricing strategy can be
    collected from their website.
    • Data can be collected from secondary resources like newspapers, Television ads and magazines
    to understand their marketing strategies.
    • Property dealers and brokerage firms can be interviewed to get information about the
    competitors.
    • SHODH can also try to conduct interviews of the employees of the rival firm to understand
    their strategy.
    • Customer interviews: One on one interviews can be conducted to get consumer insights and
    preferences.

    Q3. What is the utility of focus groups and survey research in the study by Shodh?
    In the Shodh market research case, the team was required to understand the economic housing
    dynamics of different localities of Bengaluru. For that, understanding the consumer buying
    behaviour and psychological factors affecting this behaviour are narrowed down objectives
    that need to be met. To tackle this, the team at Shodh designed the study in 4 stages:
    • Secondary data research
    • Qualitative research
    • Primary research
    • Expert Interview Surveys
    For the secondary data, they used prior research done by other firms and institutions. But for
    understanding the current condition of the market, they also required fresh data cause of the
    events observed in 2008. This required them to have both quantitative and qualitative studies.
    For qualitative studies, the method used was conducting focus group discussions among
    customers segmented by age, income, gender, etc. A focus group is a structured interview
    carried among individuals from people of similar demography. These discussions had a certain
    set of questions that provides insights into the consumer's psychological drivers towards such
    an offering. Through answers to these questions, Shodh could better identify the perspectives
    about the need for location, area of the house, locality and many such factors from the consumer
    of different segments.
    And for the quantitative data, survey research consisting structured questionnaire was to be
    developed to understand the usage and attitude practices of target consumers, economical
    housing buyers, geo-demographic and psychographic profiles of end-users, conjoint analysis
    of features, concept testing of economy houses, and optimal price structure of such houses.

    Q4 How can Shodh estimate demand for economic housing in Bangalore?


    There are four stages in estimating demand-
    Primary research
    Qualitative research
    Secondary data analysis
    Main customer interview.
    By using the information and data gained from the above four stages, Shodh can draw valuable insights.
    Identify the target group of consumers under Geographic, Demographic, Psychographic, Pricing methods to
    gauge price perception and optimal price structure of home/flat. Other parameters like extend of land area,
    build area offered and overall size of the unit shown are quite crucial in rolling out demand. Factor motivating
    purchase process, incentives purchase decision. Product mix decisions, positioning of client products, and
    selling proposition identify the profile of competitors in terms of pricing strategy, positioning strategy, and
    selling proposition
    Checking over rivals' websites to see what projects are already underway and coming up in various
    places. Checking the website would also inform the team of the number of vacant apartments/flats and
    the competitor's pricing offer. Newspapers, periodicals, and television can be used to learn more about
    how competitors are attempting to reach consumers' thoughts. The information gathered could predict
    and create profiles in terms of pricing, positioning, and selling propositions. Information can also be
    obtained from numerous property dealers in Bengaluru to understand the clients' seasonality purchasing
    preferences better.

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