Dennis Family Corporation is a family owned business, designing master-planned residential communities known for their quality and excellence. Today, they have built over 25,000 homes, manage residential communities in Victoria and South East Queensland and have built approximately 1200 houses a year throughout metropolitan Melbourne and regional Victoria.
Dennis Family Corporation were looking at launching a unique precinct in a pre-established community, located in one of Australia’s fastest growth corridors. The new precinct was to be built around medium-high density homes which are situated closer to the town centre, making it a truly walkable place with a sense of community.
To provide the most rigorous insights, THINK Global Research explored the key concepts of the precinct, using journey mapping, segmentation and focus groups to answer Dennis Family Corporation’s key questions.
Those key questions we answered were:
Starting with journey mapping interviews, we were able to better understand the psychographics of recent buyers and potential buyers in Melbourne’s West, while initially exploring Dennis Family Corporation’s key questions.
To further explore how we could attract buyers to Dennis Family Corporation’s new precinct, we conducted a quantitative piece including a segmentation. From this, THINK identified 5 distinct segments and explored key elements around the precinct’s design and location, such as living in Melbourne’s West; the pre-existing community the precinct would be located in; the walkable community concept; the amenities, services and infrastructure; shared green spaces; neighbourhood character; and sustainability.
We then supported the research with 4 focus groups to use the voice of potential buyers to help co-create Dennis Family Corporation’s precinct. We discussed more about the pros and cons of Melbourne’s West; transportation; walkable communities; reducing the use of their car; what to include in shared open green spaces; and the appeal of turnkey townhomes.
By answering these questions, Dennis Family Corporation were able to determine how to position their new precinct, taking into account the key selling points and identifying which segments most strongly aligned to the new precinct’s proposition, which is to be launched to the market in 2025.
Customer journey mapping; In-depth interviews; Segmentation; Quantitative analysis; Market sizing; Focus groups; Customer co-creation; Strategic recommendations; Go-to-market strategy.
Continuing on from our initial segmentation piece, where we tested the precinct’s appeal and key concepts, Dennis Family Corporation needed to now validate floor plans and home designs with the market.
To best represent buyer’s real-life decision making, THINK implemented a choice modelling methodology. We channelled buyers into their preferred home (2, 3, and 4 bedroom homes) to ensure the most accurate and relevant insights.
This approach allowed us to measure preferences, explore price points and conduct trade offs to help Dennis Family Corporation choose the floor plans and façade designs that they would take to the market. It also helped us to determine the most influential parts of the home for potential buyers, and to understand the appeal of certain inclusions.
On top of the choice modelling piece, Dennis Family Corporation were curious to further explore ideas such as: what makes buyers feel safe; what buyers think of sustainability, what their storage needs are; and how they plan to use their home’s outdoor spaces.
THINK used a community forum to answer these questions, which will allow Dennis Family corporation to better position the precinct and homes for potential buyers at the first release. The community forum also tested the initial branding and messaging strategy with potential buyers to measure appeal and its alignment to the precinct concept.
From this, Dennis Family Corporation were able to proceed with the preferred home designs, based on the choice model, for their precinct’s first release in 2025. The research also provided Dennis Family Corporation with a better understanding of how customers will use spaces around their home, what they are willing to pay more for, and how to position the homes and community to their different segments.
Choice modelling; Community forum; Segmentation; Quantitative analysis; Qualitative analysis; Agile reporting; Brand identity; Strategic recommendations.
© 2024 THINK Global Research. All Rights Reserved.Privacy Policy | Terms of Service | Cookies
