Concept Evaluation
Study
Methodology: Face to Face Structured Interview.
Industry: Real Estate.
Target group: High Net worth Individuals and corporate houses who arrange for outbound activities.
Our client has a land parcel near Mumbai (150Km) and wished to set up a resort which can become an option for outbound activities for corporate and HNIs in Mumbai. For this they have drafted 2 concepts for their upcoming resorts.
The Challenges Were…
To find out the following:
o Feasibility of opening a resort.
o Customer preferences and expectation
o Key factors that differentiate a resort from others
o Desired facilities in such a destination
o Acceptance of different concepts that appeal to the discerning consumers in Mumbai.
Our Approach…
Market Search India conducted a series of face to face structured interviews with target respondents.
Outcome…
From the study insights,
o Estimated future demand & supply, helped the client to decide whether the opportunity present was attractive enough to invest or not.
o Provided price sensitivity of the market, allowed the client to accurately estimate the finances and take a considered decision.
o Identified the customer preferences and expectations from the resort. Along with the information on consumer behaviour towards visiting resorts. i.e Important factors they consider before finalising the resort, typical duration, price per night and the various activities they would like to do in the resort. Which concept they found more appealing to the discerning consumers in Mumbai.