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Lodha Marketing Case

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Soar for More –Marketing Case 2014

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Soar For More

Marketing- Case Study - 2014

Soar for More –Marketing Case 2014
Preamble: Monsoons had just arrived in Mumbai and as the dark clouds began to encompass the sky in the evening, offices called it a day. Unabated by these rains, the construction of bustling high rises which were determined to pierce through the skies, was ubiquitous. Sanjay Sarkar, the Head of Marketing at Lodha Group, was looking at the skyline of this city through his glass chambers with a sense of pride that the tallest and the grandest of them for many years to come will be The World Towers, world’s tallest residential building with Armani designed residences. Lodha Group was widely acclaimed for delivering the finest projects, and for those who have had a remarkable experience from buying a Lodha property, the choice for buying a second residence was markedly another Lodha property. At this thought, Sanjay was pondering over the annual numbers and it occurred to him that so far 14% of the entire group’s revenue in 2014 was from Loyalty and Referral bookings, which were sparked by a loyalty program that was earlier unheard of in real estate industry. Loyalty program rewards repeat purchases and referral bookings in kind, ranging from a fully sponsored trip to the Milan Fashion Week with front row seating to an exclusive A R Rahman concert. The program’s objective is also to drive more loyalty and referral bookings from the existing customers which are done through various customer engagements. On further exploring the two segments into which Lodha’s projects were categorized into, viz. Mid-income & Hi-End, it came to Sanjay’s notice that revenue from loyalty & referral bookings in Mid-income segment projects was 21% of total revenue in the that segment, whereas it was only 10% in Hi-End segment. It was evident that Hi-End

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