Launching a differentiated brand to repurpose India’s unorganised Student and Bachelor Hostel space

 

youthville

 

This Article Will:

  • Help you understand how differentiated brands can be created in the real estate space.
  • Evaluate the impact of Consumer Insights in the creation of brand strategy
  • Touch upon the impact of having a strong team of professionals in the creation of a brand
  • How the dedicated vision of a promoter can impact the outcome of a brand’s strategy

 

Every individual, at some stage or the other, has come across someone who has had a harrowing experience while living away from home – whether it was during college, or when they moved to a new city for work. The excitement of a new city, the wide eyed wonder of new friends and new surroundings get clouded by the uncertainty of moving into a hostel, paying guest or rented apartment where a wide varieties of challenges await them. For many, this experience is seen as a rite of passage – a symbol of coming of age and to prove to themselves that they are now ready to take care of themselves. For many others, the experience of living in a hostel is a hinderance, riddled with uncalled for challenges related to basic functional features like cleanliness, water and food.

 

Historically, hostels have been seen as a ‘mandatory feature’ that educational institutes ‘need’ to offer to make their campus attractive to potential students. However, with changing times and increased affluence, both parents and students alike have increased expectations from their accommodation during their time in a new city.

 

When Mr. Vineet Goyal, a leading real estate developer based in Pune sensed an opportunity in organising the extremely unorganised hostel space for students and working professionals, he put together a team of expert professionals to help him evaluate this opportunity further. Once the rich potential was identified, Mr. Goyal next focused on understanding his customer better, so that he could deliver his product and service in a manner that it fulfills his customer needs. It is here that Brand Launch Centre was brought in to answer the question – ‘How can we create a brand that is attractive to customers, while redefining the way hostels are perceived by the market?’

 

Over the next 60 days, the Brand Launch Centre team leveraged its proprietary Wings for Profit process to deep dive into understanding the current offerings of hostels in India and globally and to interact with and engage with customer groups (students and working professionals) and influencers (college administrators and educators) through Personal Interviews, Group Discussions and even Quantitative Interactions.

 

During the entire Wings For Profit process, the Brand Launch Centre team worked with Mr. Goyal and his team, who comprised of experts from Jone Lang LaSalle (JLL), Ernst & Young (E&Y) and many others through collaborative and engaging workshops in order to bring the customer’s perspective to the table and building the foundation of the brand going forward.

 

As an outcome of these interactions and customer insights, the entire team came upon a revelation that the business is not about ‘building and operating purpose built hostels’, but instead it is all about ‘Making Independent Living Memorable’. Armed with this insight, Brand Launch Centre set out to create a brand – right from its name, identity, colors and the experience a resident would have when they stay there. The outcome of many days of brainstorming, ideation and discussions, was a young, energetic and exciting brand called Youthville.

 

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The promise of the brand was reflected across the entire customer’s journey, right from when they will be picked up to their experience across the campus.

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Over the course of this engagement, Mr. Goyal’s vision got translated as:

 

‘The journey of getting into the vertical of hostels for students and working professionals has truly been an exciting one. When we saw that the options available to students and working professionals today in terms of Hostels and PGs, alongwith the reluctance of residential societies to provide accommodation to them, we immediately knew that this was a problem we wanted to solve. As we’ve built the Youthville concept, we’ve had a fair share of ups and downs, but are committed to making Youthville a place where residents will be able to Live Unforgettably, everyday! As the concept of serviced hostels evolve, we see Youthville becoming a name that is synonymous with Serviced Hostels in India by making 20,000 beds available in the next 5 years. Youthville is going to become a place of culture, fun, learning and growth, where residents break out of their comfort zones and achieve the objectives of leaving home’.

 

 

In defining the brand’s identity and positioning, Brand Launch Centre has shaped the vision of a new business idea, where the customer is at the heart of the entire experience.

 

Are you an entrepreneur with a dream like Vineet Goyal and need an assistance, do contact us on info@brandlaunchcentre.com

 

To keep updated on the progress of this project do subscribe to our newsletter at www.brandlaunchcentre.com

 

Project Team YouthVille: Vineet Goyal, Rupesh Mittal, Shubankar Mitra, Rahul Vaidya, Nilesh

 

Project Team Brand Launch Centre: Sameer Desai, Akash Nagrani, Apoorva Sohoni, Urvi Bole, Freddie Alexander

July 10, 2017Akash Nagrani, Brand Consultant, Brand Launch Centre