Simplifying. Retail Marketing. Real Estate Consumer Research for Zinnov Consulting. March 2014
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1 Simplifying Retail Marketing Real Estate Consumer Research for Zinnov Consulting March 2014 Copyright Channelplay Limited 1
2 QANTITATIVE MARKETRESEARCH Industry: Client: Real Estate Zinnov Management Consulting Objective To conduct a market research to understand the purchase and information collection patterns of 6,000 real estate consumers across 15 cities Program Challenges Geographical spread of the study Adherence to profiling & proportions of research samples Deploying large pool of feet on street to maximize reach Collecting information from both residential and commercial property respondents Scope of Work Research questionnaire design Recruiting, training and deployment of feet on street Fool-proof data collection using best-in-class technology Data analysis and confirmation to sample proportions required Utilizing statistical techniques to represent the market from the biased samples collected ~6,000 RESPONDENTS 15 CITIES 11 STATES 9 DIFFERENT QUESTIONNAIRES Copyright Channelplay Limited 2
3 BACKGROUND Our client wanted to understand the purchase behavior of real estate customers with focus on their usage of Internet as a source of information. The study covered three different kinds of customers: Customers buying residential property Customers looking for a rented residential property Customers looking for a rented commercial property The study was further divided on the basis of ranking of Internet among the various sources of information. The set of customers who use internet as one of their top 3 information sources were heavily oversampled along with customers looking for higher budget properties. Copyright Channelplay Limited 3
4 CHALLENGES Geographical spread of the study The study was conducted across 15 cities (Tier I & Tier II cities) across 11 states in India Adherence to profiling & proportions of research samples The requirement was to oversample certain cuts of data (Internet among top 3 information sources, equal split of awareness and evaluation stages of purchase, higher budget and higher income) to aid delving deeper into their patterns Strict proportions of responses to certain questions were to be met in each city Deploying large pool of feet on street to maximize the reach 150 surveyors were deployed to collect data across the country Surveyors ranged from students, professional freelancers and employees Surveyors were trained on using the mobile app for coherent data collection Collecting information from both residential and commercial property respondents Different questionnaires were combined to form one single questionnaire which facilitated applying branching logics at the time of data analysis. Street-smart dynamic survey approach was to be deployed to accommodate for varied responses from different types of customers. Copyright Channelplay Limited 4
5 EXECUTION End to end project management including recruitment and training of surveyors, leveraging technology in data collection, ensuring adherence of sample cuts, data validation, reporting and analysis Activity Recruitment and Training of surveyors Key Actions Customizing surveyor profiling as per the survey location Training of the surveyors on survey SOPs and data collection suing mobile app Channelplay Advantage Large network of recruiters and freelancers built over the years. In- house Technology Solutions team for application development Digitizing data collection Deployed customized mobile application with features such as offline data collection and GPS validation of field data Copyright Channelplay Limited 5
6 EXECUTION End to end project management including recruitment and training of surveyors, leveraging technology in data collection, ensuring adherence of sample cuts, data validation, reporting and analysis Activity Key Actions Channelplay Advantage Ensuring adherence of required sample cuts Responses for certain questions had to conform to pre-set proportions to ensure oversampling of certain customer segments. Constant monitoring and post-facto analysis of data collected aided in devising customized daily plans for surveyors on the customer segments to be targeted. A market representative sample was further collected from this data by removing the biases to also understand the overall market dynamics Expertise on statistical techniques used in market research Using best-in-class technology to aid real time monitoring of data and devising granular customized action plans Copyright Channelplay Limited 6
7 EXECUTION End to end project management including recruitment and training of surveyors, leveraging technology in data collection, ensuring adherence of sample cuts, data validation, reporting and analysis Activity Key Actions Channelplay Advantage Data Validation The data collected was validated thoroughly through GPS tags, pictures and audio recordings Dedicated QC team to scan and approve data reported Deployment of technology solutions at field level Data Analysis and Reporting Frequent updates with progress on individual data cuts shared Final analysis of data to draw clear insights In-house analytics team with expertise in statistical techniques Copyright Channelplay Limited 7
8 EXECUTION Data Collection Management Surveyors assigned various locations within a city to reach out to respondents Surveyors spend 1-2 days collecting responses without any added bias or interventions Data collected is analysed to check for confirmation to required cuts Process repeats till all the required responses within the required cuts have been collected Additional surveyors are then deployed in locations where desired data cuts were sampled higher Proportions of desired cuts (high internet usage, high budget/income, etc.) were calculated for all the locations Copyright Channelplay Limited 8
9 OUTCOMES Impact Demographic split of respondents Age 49% 2% 13% 36% Occupation 55% 8% 8% 29% Annual Household Income > 25 LPA < 5 LPA 5-25 LPA 12% 27% 61% Copyright Channelplay Limited 9
10 OUTCOMES Impact Required and Delivered cuts on sample Copyright Channelplay Limited 10
11 THANKYOU / channelplay Copyright Channelplay Limited 11
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