Abstract
PurposeThe economic slowdown that hit worldwide in 2008 led to a drastic decrease in real estate sales, especially in the luxury segment. This case describes how a premium real estate company in India overcame this downturn by strategic entry into a new market segment. It discusses the role played by brand management in creating and establishing a sub‐brand in real estate.Design/methodology/approachThe case study presents an in‐depth discussion on various aspects of the strategy adopted based on the options available for sustenance in a slowing economy, evaluation of options, market research, customer segment research, brand extension options, brand architecture and nomenclature used, marketing initiatives taken, and milestones achieved.FindingsThe case discusses the challenges that the premium real estate group was able to overcome by implementation of the adopted strategy.Originality/valueThe paper is multi‐dimensional in nature. It focuses on brand extension strategies and opportunity creation and growth in a recessionary environment, looking at a real life example of the demonstrable and significant results achieved by Lodha Group. This case can be of value to practitioners as well as academicians in the field of brand management and sub‐brand creation in real estate, specifically during an economic slowdown.
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