Commercial Real Estate / Townships: New Venture Tips #16

​Why Customer Segmentation is necessary before designing or planning a Commercial Real Estate or Township Project?
By *Ameen Ahsan Strategy Consulting*

These days we come across advertisements featuring huge township projects and commercial real estate. Due to the faster pace of Urbanization Township projects and Commercial real estate deals have had a huge surge in our markets.  

Today the demand for townships have increased because townships projects come with a package of living spaces, shopping spaces, play areas, schools, eateries etc making it a very habitual place for the general public who wish to live in the midst of all the facilities. Everyone is interested in living a lifestyle of a global citizen.

Commercial Real Estate and Township projects are usually undertaken by large worthy business people as it requires good financial backing. When designing and planning such projects it’s very important for the investor to segment his customers so as to cater to their needs and wants. A Township or a Commercial Real Estate project would have to cater needs and wants of different age groups, income levels, culture etc.
It is very important to split potential buyers into different segments, grouping together those with similar characteristics which have similar needs. The aim is to identify true buyer needs, which can be combined together to identify the best segments on which to focus marketing efforts.

Lack of clear customer segmentation can result in unoccupied spaces in Townships and the entire project being a failure. 

​*Ameen Ahsan Strategy Consulting*
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7th Floor, Hi Lite Business Park, Calicut
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*Kerala's finest experts for Feasibility Studies, Strategy Reports / Project Reports, Business Models and Vision Realisation*