“Marketing the right product to the right target audience is the key to success in marketing,” said Mr Sandeep Pantvaidya, General Manager – Marketing, ETA Star Property.

Addressing management students of SRM Business School at a BL Club event presented by Tata Photon Plus, he elaborated on the successful marketing case study conducted for its project ‘Globevill'.

He said marketing activities nowadays begin with the first ‘P' which stands for people, which is also the focal point for any quality work. In the case of Globevill, too, it started with having the right people and resources for the job, followed by the other four Ps of marketing.

With people in place, the entire focus shifted to developing a quality product based on research of the place, which, in this case, was the industrial corridor of Tamil Nadu on NH-4.

The product was designed with the objective “of bringing about great work-life balance for the target audience.” The complex includes the Ryan International School, a hospital, restaurant, commercial building, hotel, gym, swimming pool, club house and mall, among others. For people working in organisations located on the NH-4, a residence at the complex would greatly cut down their travel time and also give them the opportunity to live in a township environment.

Pricing was a key aspect of the project's success; dwelling unit formats had a launch price tag of Rs 13 lakh for a 2BHK apartment. The 360-degree promotion of the project included a mix of above-the-line, below-the-line and public relations activations, apart from other promotional activities.

He added that “understanding the customer's purchasing decision process acts as a great tool to design one's marketing plan.” This tool helps when a marketing campaign is being devised for a launch.

Mr Nagesh, Dean, School of Management, was also present at the event.

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