ou have been put in charge of the marketing for a real estate company. They want you to provide a “rough” outline of your ideas. In order to understand your potential customers, you conducted a study for family and living arrangements and came up with the following contingency table that explains the percent breakdown for age groups and whether they own/buy or just rent.
In your initial post, answer the following questions:
Describe in this discussion who would be the “groups” that you would focus on in the marketing plan.
List three reasons why you would base your marketing plan on this information.
The groups i would target/ focus on in the marketing plan are – people between 36 – 50 years of age. That is the age where people are settled in life with kids, few get married and have plans in starting a family, few even have adult children staying with them. That is the correct age group to target people to either buy a property or to own a property, or to rent a property. Similarly, age group of 30 – 36 years is also a right age group to target people to rent a property.
These groups are to be focused in the marketing plan because, they are the right target for persuasion. These groups (30 – 36 and 36 – 50) are the two groups who are financially independent. The members of the group 30 – 36 are financially independent and not everybody in this group will be in a position to buy a house. So, the best option that a marketer does is to target them to rent a property.
The members of the group 36 – 50 are financially independent as well as stable life. They try to invest in properties for their future and retirement life. Few invest for their child’s future, and few does it for monetary and financial gains. So, marketers persuade people in these group to invest in buying a property for a lifetime.
Three reasons that i would base marketing plan on this information are – (1) Financially stable, (2) will be able to pay-off the loans before their retirement, (3) they tend to purchase it as, it being a good investment.