Krungsri Bank (Thailand) introduces Condo Vending Machines

Krungsri Bank (Thailand) introduces Condo Vending Machines

Understanding consumer behavior is one of the most essential keys to any successful marketing campaign. Lowe and Partners (marketing agency) was able to innovatively send out an integrated brand message to their target market – young Thai working adults looking to stay in budget condos.

In Bangkok, it takes approximately 2 hours to reach one’s work place due to the intensive traffic. Therefore, a lot of people prefer the sky train as a mode of transport. Lowe and Partners saw this as an opportunity to get closer to their target market.

During their research, Lowe and Partners understood that buying a condo is a low priority for these young busy individuals who would generally stay with their parents. Krungsri Bank wanted to give these young individuals a chance to own their own condo by giving them a 100 loan to value with fast approval. Therefore, instead of taking the consumers to the bank, they took the bank to the consumers. Lowe and Partners installed Condo Vending Machines at key sky train stations where commuters could simply scan a QR code of a condo to get information about the Condo and the mortgage loan that Krungsri Bank was offering.

Condo vending machines gave commuters the ability to buy a condo as easily as they could buy a bag of chips. This concept in itself is not just novel but integrated with the key marketing message of Krungsri Bank.

Ofcourse, no campaign is complete without support media. Lowe and Partners choose exactly “on the move” support media to further intensify the core message to the specific target market.

Condo Vending Machines is an innovative marketing concept which promotes the core campaign message. With a limited marketing budget of hardly $200,000(USD), the campaign was able to increase the number of applicants by 40%.

The vending machine concept to sell condominiums is surely an innovative campaign with a definate high recall value. As promised, Krungsri Bank surely changed a longer commute to a short journey home.

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