MARKETING PRIVATE RESIDENTIAL PROPERTIES

Abstract

This dissertation gives an overview of the entire marketing process of residential projects. The types of residential properties understudied are landed properties, condominiums, apartments, townhouses and maisonettes. The marketing activities are discussed in a chronological order according to the steps in the formulation of the marketing plan. The market analysis carried out will help to determine the current market situation thus estimating the demand for a proposed residential project. The developer will also have to identify the target market and formulate the best marketing mix (ie. product, price, place and promotion) before the project is launched for sale. The survey conducted will assist the marketing agent/developer in gauging the effectiveness and importance of each marketing tool and in determining the important marketing attractions so as to choose the appropriate tools and marketing attractions to be incorporated in the project, thus applying the marketing concept. The survey also examined the more common forms of pricing methods and the tactics and the type of distribution channels adopted by marketing agents/developers.