A Case Study On Grand Icon

How Grand Icon Overcame Challenges and Became a Popular Residential Apartment Project in Baner, Pune

Introduction: Grand Icon, a residential apartment project in Baner, initially faced several challenges due to its standalone building structure, smaller plot area, and lack of common amenities. The high land cost also made it difficult to sell the apartments at reasonable prices, which caused prospective customers to perceive the project as having a mismatched value proposition. However, the developer, M. R. Associates in consultation with SAAR Realtech, was able to overcome these challenges through strategic product augmentation and a well-executed marketing campaign.

Challenges

1. Standalone building, smaller plot area, no common amenities vs Baner location.

2. High land cost resulting in selling apartments at considerably higher prices as per the location value.

3. Customers unable to perceive the value in the product as the value proposition was mismatched.

Strategies implemented by M. R. Associate in consultation with SAAR Realtech

To overcome the challenges, the developer engaged SAAR Realtech as an advisory and strategy partner.

Product Augmentation : SAAR Realtech advised on product augmentation after analysing the customer segment and introducing several upgrades to the apartments, including Italian marble finished larger vitrified flooring, home automation with video door phone, motion sensor lights in the washroom, digital locks at the main entrance door, and a host of amenities planned at the top terrace, such as a gazebo seat-out, potted flower garden, walking track, and barbeque corner. A passenger elevator was also upgraded to the terrace floor for easy access to elderly and needy people.

Marketing : SAAR Realtech's design team conceptualised and designed a project brochure and coffee table book highlighting the project's strengths and planned a complete marketing campaign that included placing hoardings and site markers at strategic points and conducting a highly efficient digital marketing campaign. The above-the-line (ATL) and digital visibility were so effective that it attracted several channel partners and prospective customers to the project site, resulting in an overall cost of sales that was less than 4.5%.

Results: The strategic product augmentation and well-executed marketing campaign helped transform Grand Icon into a premium mid-segment apartment with attractive features, making it a popular choice among prospective customers. As a result, prospective customers began perceiving the project as a value for buy, resulting in faster sales for the developer. Price realisation was also improved by 10% over the initial pricing.

Conclusion: Grand Icon was initially a challenging project, but through strategic product augmentation and a well-executed marketing campaign, the developer was able to overcome the challenges and turn the project into a popular residential apartment project in Baner.

Before

Marketing Collaterals designed by SAAR Realtech

Site Branding Artworks

Social Media & Ad Images

Email Templates & WhatsApp Creatives

Prepared by SAAR Realtech

How Grand Icon Overcame Challenges and Became a Popular Residential Apartment Project in Baner, Pune

Introduction: Grand Icon, a residential apartment project in Baner, initially faced several challenges due to its standalone building structure, smaller plot area, and lack of common amenities. The high land cost also made it difficult to sell the apartments at reasonable prices, which caused prospective customers to perceive the project as having a mismatched value proposition. However, the developer, M. R. Associates in consultation with SAAR Realtech, was able to overcome these challenges through strategic product augmentation and a well-executed marketing campaign.

Challenges

1. Standalone building, smaller plot area, no common amenities vs Baner location.

2. High land cost resulting in selling apartments at considerably higher prices as per the location value.

3. Customers unable to perceive the value in the product as the value proposition was mismatched.

Strategies implemented by M. R. Associate in consultation with SAAR Realtech

To overcome the challenges, the developer engaged SAAR Realtech as an advisory and strategy partner.

Product Augmentation : SAAR Realtech advised on product augmentation after analysing the customer segment and introducing several upgrades to the apartments, including Italian marble finished larger vitrified flooring, home automation with video door phone, motion sensor lights in the washroom, digital locks at the main entrance door, and a host of amenities planned at the top terrace, such as a gazebo seat-out, potted flower garden, walking track, and barbeque corner. A passenger elevator was also upgraded to the terrace floor for easy access to elderly and needy people.

Marketing : SAAR Realtech's design team conceptualised and designed a project brochure and coffee table book highlighting the project's strengths and planned a complete marketing campaign that included placing hoardings and site markers at strategic points and conducting a highly efficient digital marketing campaign. The above-the-line (ATL) and digital visibility were so effective that it attracted several channel partners and prospective customers to the project site, resulting in an overall cost of sales that was less than 4.5%.

Results: The strategic product augmentation and well-executed marketing campaign helped transform Grand Icon into a premium mid-segment apartment with attractive features, making it a popular choice among prospective customers. As a result, prospective customers began perceiving the project as a value for buy, resulting in faster sales for the developer. Price realisation was also improved by 10% over the initial pricing.

Conclusion: Grand Icon was initially a challenging project, but through strategic product augmentation and a well-executed marketing campaign, the developer was able to overcome the challenges and turn the project into a popular residential apartment project in Baner.

Before

Marketing Collaterals designed by SAAR Realtech

Site Branding Artworks

Social Media & Ad Images

Email Templates & WhatsApp Creatives

Prepared by SAAR Realtech