With new living target groups to more customer centricity and a better product-market fit
The real estate market is subject to constant change, which has accelerated significantly in recent years. For example, construction costs have risen sharply since the pandemic, as have housing prices due to demand. But the challenging market situation is also accompanied by new opportunities. Digitalization has proven to be an innovation driver and a lever for process optimization, and sustainable construction with the goal of decarbonization is gaining enormous importance.
Given the dynamic developments in the real estate market, the needs, requirements and desires of real estate users have also changed over time. Understanding these needs of end users, even in the early stages of a real estate or site development, is a supporting pillar in the implementation of sophisticated, attractive and sustainably functioning properties.
As a leading real estate and construction services provider, we place the highest value on customer satisfaction throughout the entire life cycle of their properties. That's why we consistently focus on Customer Centricity, centering on how we can offer our customers maximum added value and the best possible living experience. To this end, the Real Estate Marketing team led by Jelena Radovic, Head Real Estate Marketing Switzerland, and Nikolina Angelova, Project Development, with the support of Marc Lyon, Head Real Estate Development Switzerland, conducted comprehensive market research on current user- and location-specific living requirements.
New residential target groups: The "Implenia Lifestylers
This representative empirical study, involving more than 1,500 respondents from German-speaking and French-speaking Switzerland, yielded sound new insights, data and findings about the users of our residential properties and led to the derivation of six clearly defined residential target groups, the "Implenia Lifestylers", including associated target group attributes and specific residential preferences. These are incorporated into our architectural programs, among other things. In parallel with the market research, we asked several architects about the best way to formulate user needs in order to increase their understanding of these needs without restricting creativity. This makes architects' briefing more efficient and more meaningful in terms of content. The user-centered development process based on this new approach saves both time and money and, most importantly, leads to even better quality and social sustainability of real estate projects.
A potential milestone for real estate development
The data we have gathered from our market research provides invaluable insights around housing needs and user-based factors that can now be incorporated into the early stages of our real estate and site developments. By conducting in-depth research into housing needs, we are able to place offers on the market aimed at specific target groups and thus offer users an optimal living experience. Factors such as the values and individual lifestyles of "Implenia Lifestylers" are particularly important here, as are location preferences in terms of determining the location of new projects.
Levels of demand attributes
Real estate contains a number of attributes, characteristics and elements of the living environment that are specifically demanded by users. In this context, project developments focus on a specific target group and its housing needs. These attributes can be divided into four different levels:
-
The core levels comprise classic basic attributes that describe the basic need with regard to a dwelling. These include the preferred place of residence, the number of rooms, the living space, and the rental or purchase price.
-
The location attributes describe the customer's needs with regard to the residential location, such as proximity to shopping facilities or a good view.
-
In addition, there are so-called hygiene attributes such as storage space or a private outdoor space.
-
The motivation attributes are very specific for each target group within Implenia Lifestylers. This can be, for example, the desire for ecological construction, a modern interior design or a place to work quietly in the apartment.
The hygiene as well as the motivation attributes represent very relevant insights for attractive, forward-looking real estate projects. Each attribute outlines a corresponding demand-related need that can be targeted in real estate development to achieve the best possible product-market fit. In the case of indifferent needs, the solution approach is deliberately considered open-ended to ensure room for innovation or creative solutions during the design and planning process.
Examples of attribute descriptions
Example of a motivation attribute
"Willy Waldrand", "Petra Paradies" or "Kevin Cool"?
The newly defined residential target groups "Implenia Lifestylers" are six clearly defined segments characterized by specific lifestyles, value attitudes and needs for a living space that is perceived as attractive. It is striking that each target group is represented in every age group, which shows that demographics play a subordinate role in target group identification. For a better understanding of our Lifestylers, we introduce you to "Kevin Cool."
"For me, my city apartment is the key to living on the cutting edge."
Kevin Cool represents the urban living target group. For Kevin, only the city comes into question for a life on the pulse of time. Security and prosperity are fundamental factors for him. Kevin Cool is characterized by a high affinity for technology, and proximity to his workplace is a decisive criterion for the choice of his preferred living space. Because he is single or in a childless partnership, Kevin has fundamentally different requirements for his living space than, for example, families with children. He prefers lively neighborhoods with plenty of shopping and nightlife options and is more of a renter than a buyer in favor of his flexibility.
We are convinced that with the help of our "Lifestylers" we can redefine user-centric real estate and site development and sustainably optimize the user experience as well as the collaboration with architects and other conceptual partners. In this way, we develop forward-looking real estate solutions that enrich and simplify people's lives and enable them to realize their preferred lifestyle.
