Project Charter

Project Title:

Market Research for 100 + acres middle income housing development project.

Project Brief:

• The project is located in Badlapur and is being developed by Poddar Housing

• It is a 200-acre township with 1 and 2 bed homes starting Rs. 27.99 Lacs(all-in).

• The development offers 30+ amenities which includes Poddar Brio International School and a
multi-specialty hospital

• Part of the development is already delivered, and it is called Samriddhi Evergreens

Research Objective:

• To understand which are the most successful large residential projects across India targeting
the middle-income customer category and what were the key reasons for their success.
- Why are these projects being sold?
- Unique Features
- Factors affecting their success and failures – learnings from that
• To analyze who are the consumers that would be buying a house in Badlapur
- Demographics
- Income
- Ethnicity
- Psycographic (Etc)
• To determine whether a person staying in central belt – Kurla , Ghatkopar, Mulund Thane
who has stayed in a slums, shady apartments and underdeveloped apartments in rent , do
they plan to own their own house in Badlapur after retirement.

Broader approach

1. Phase 1 : Demand Side

Segmentizing the Badlapur market by breaking them into smaller regions based on factors such
income group, lifestyle, Location (connectivity & access to essential services and amenities) and
other behavioral parameters.

Through competitor benchmarking and primary and secondary research with the help of channel
partners and other major stake holders formulate a competitive SWOT and do the need gap analysis
for the middle-income consumers looking to buy a home.

2. Phase 2 : Supply side

 Analyze major large residential projects across India targeting the middle-income customer category
and what were the key reasons for their success as well as failures.

a) Online Brochures and catalogues

b) Websites
c) Secondary data
d) Interacting with the internal stakeholders as a mystery shopper

The variables to be considered while analyzing these major projects :

a) Typology
b) Location (connectivity & access to essential services and amenities)
c) Amenities provided by the developer
d) Positioning
e) Sales process & environment
f) Payment plan and schemes

Research Methodology:

1. Formulating the research problem or the problem statement :

The decision problem faced by the organization must be translated into a market research problem
in the form of questions. These questions must define the information that is required to make the
decision and how this information can be obtained. This way, the decision problem gets translated
into a research problem.

2. Method of Inquiry:

a) Observation: This is the problem-awareness phase, which involves observing a set of

significant factors that relate to the problem situation.
b) Formulation Of Hypotheses: In this stage, a hypothesis (i.e., a generalization about reality
that permits prediction) is formed that postulates a connection between seemingly
unrelated facts. In a sense, the hypothesis suggests an explanation of what has been
observed.
c) Prediction Of The Future : After hypotheses are formulated, their logical implications are
deduced. This stage uses the hypotheses to predict what will happen.
d) Testing The Hypotheses: This is the evidence collection and evaluation stage. From a
research project perspective this is the design and implementation of the main study.
Conclusions are stated based on the data collected and evaluated.

3. Determine research design :

The research design specifies the method and procedure for conducting a particular study.

a) Exploratory research
 b) Descriptive research
c) Causal research

4. Identify data types and sources:

The next step is to determine the sources of data to be used

a) Primary Data
d) Secondary Data

The factors to be considered :

a) Demographic and socioeconomic characteristics

b) Psychological and lifestyle characteristics
c) Attitudes and opinions
d) Awareness and knowledge - for example, brand awareness
e) Intentions - for example, purchase intentions.
f) Motivation - a person's motives are more stable than his/her behavior, so motive is a better
predictor of future behavior than is past behavior.

5. Sample Design

1. From which base population is the sample to be selected?

2. What is the method (process) for sample selection?
3. What is the size of the sample?

6. Data Collection

7. Interpretation and analysis from the primary research

8. Interpretation and analysis from the Secondary Research

9. Insights and Recommendations