In the current Indian scenario, the combined effect of demonetization, crackdown on un-taxed incomes, and a series of Bills passed by the government to make real estate more regulated, the consumer is anxiously holding their breath for real estate prices to fall in urban India. It’s made the real estate market sluggish, with people delaying buying decisions to avoid the risk of losing money, in case prices fell.
Rohan Builders of Pune, were among the first real estate companies in India to introduce a ‘Price Protection Policy’ back in 2008. The policy ensures that if the market price of the property bought falls, Rohan refunds the difference to the consumer. They have re-introduced this policy, in the wake of current market conditions.
While this policy is immensely relevant in the current market, it normally gets buried in the fine print of the legal documents and is left to the sales personnel to explain (or ignore).
To put spotlight on Price-Protection, LinTeractive recently unveiled a digitally-led initiative, Price-Protected Sabziwala(vegetable vendor). At this shop, you get price-protection on vegetables, even on small fluctuations in the market.
The campaign kicked-off with a series of prank videos set in Pune called ‘Aaj Ka Bhav’ (the rates today) by the popular comedy group STFU18. In the Series, vegetable vendors in and around Pune were asked if they would return money to consumers if vegetable prices fell. OOH and social media are being deployed to communicate Rohan’s price protection policy.