Market Research

 

What is the Value of Market Research

 

Research is an important investment and ultimately serves to enable you to develop and deliver better products.  Understanding what today’s consumers’ value and desire in a new home, what the competition is doing and how the market is performing will present you with opportunities to serve a segment in the market that is potentially underserved. If you can uncover or even create a hidden demand for a particular type of housing, your chances for a successful and profitable project will increase greatly.

Market research is an investment that usually ends up saving you money in the long run. Periods of slow sales or product redevelopment are expensive. Learn as much as you can before you start, and you are less likely to make a mistake.

 

 

Trends & New Ideas

 

Trends and fads are two completely different things. Shag carpet was a fad. Increased awareness regarding energy consumption is a trend. Fads are almost impossible to predict, but trends need to be identified and capitalized on.

 

Trends emerge in the form of demographics, marketing and product design. Demographic and social trends have a significant impact on your business. For example, increasingly as the GTA continues to grow, we are seeing more and more commuters in highway accessible communities. We have the data for inter-county migration in Ontario. The implications of these numbers may or may not affect your business.

 

If we are not provided with this information there can be many instances where site issues will occur due to the lack of drawing coordination. Our job is to try and prevent this from occurring. We are as always more than happy to submit our drawings directly to the truss, floor and/or Civil Engineers to expedite the process on your behalf.


 

Understanding the Purchaser Process

 

1. Needs Recognition

Sometimes a need exists, sometimes you can create a need. Advertising creates awareness of your offering

 

2. Information Search

Marketing: package your information
Online: develop a great website
Sales Office: make an impression

 

3. Evaluate Options

The purchaser will shop & compare. It is important that you have superior product, and a sales team who can effectively establish your brand as the bench-mark.

 

4. Purchase

Talented, professional, and well trained sales staff achieve results while creating an exceptional customer experience.

 

5. Evaluation

Continued contact with your purchasers through surveys will help you understand how to improve the customer experience.