Solved: Based on your research on categorical data, explain how a further breakdown of the categories

When the categories are further breakdown into own/buy or rent, it will surely impact the type of marketing plan be considered for both the situations

Since buying a home is a major decision in the life of an individual which cannot be reversed for the time being, customers tend to do extensive research before reaching decisions. Now a day’s customers are more technology savvy so the first step is to build your website with each and every feature possible. It should be search friendly including large pictures, drop down search menus, easy to find selling and buying guides, and great tools such as a home value estimator and mortgage calculator. She is now a day’s trend for Smartphone app where a customer can get an insight into new options whenever and wherever they want. More and more buyers are also inclined towards social media to get information on homes for sale. So leverage social media platforms to make your property more visible and attractive to the modern buyer.

When considering renting a homebuyers think that they have the option to switch it after some time if non suitable. Here the first thing the marketer should keep in mind is the type of tenant and the rent they are likely to pay. The clearer a landlord is on whom their likely tenants are to be the better the more targeted their marketing can be. Here the marketing efforts are not complicated and lengthy. The main focus would be on the characteristics of landlord’s potential tenants. Method of communication may include direct advertising, informal networks such as word of mouth etc.