Market Segmentation and Target Market: A Study of Conroe, TX Real Estate Market Trends

This presentation discusses the market segmentation and target market strategy for the Conroe, TX real estate market. It explores the expected market growth and the demographics, psychographics, and geographic factors that influence the strategy. The target market is the home sellers, and their preferences are taken into account in terms of the services they want to provide their clients. The strategy focuses on young builders and architects, affluent builders, and developing suburban areas. The estimated market industry is $89 billion dollars.

MARKET
SEGMENTATION AND
TARGET MARKET
A STUDY OF CONROE, TX REAL ESTATE MARKET TRENDS

TARGET MARKET
• The target market of the strategy are the homes sellers.
• The home sellers’ preferences will be taken into account in term of the services they want
to provide their clients.
• The home sellers’ preferences vary with their client base.

MARKET SEGMENTATION
• Demographics: It helps in the choosing of the target market where the
services are to be provided, in this case it is the higher end real estate
dealers.
• Psychographics: It helps in understanding the lifestyle that the
consumers want to have in the living in the luxurious environment.
• Geographic: The geographic context takes into account the areas in
which the houses are being constructed.

DEMOGRAPHICS
• Young builders and architects and developing home builders are the
target of the strategy.
• The different age groups varying from 24-29 year olds are considered.
• The different builders targeted are from affluent backgrounds.

PSYCHOGRAPHICS
• It focusses on the seller who
focus on contemporary
approach.
• It takes account the sellers who
appreciate quality of the work
provided.
• The service wants to give the
clients a sense of luxury.

GEOGRAPHIC
• It focuses on developing suburban areas.
• The chosen area is Conroe, TX which is
one the most populated city in Texas
• The population is estimated at 82,286
(Campbell, 2018).
Figure: Conroe, TX Real Estate Market
Trends
(Source: realtor.com, 2018)

EXPECTED MARKET GROWTH
• The Conroe, TX area has shown steady growth of 26.7% and is
expected to increase by 45% (Campbell, 2018).
• The growth of housing industry is expected to by about 9.7%
(Realtor.com, 2018).
• There are 1830 homes for sale currently and they stay in market for
average of 60-100 days (Realtor.com, 2018).
• The estimated market industry is $89 Billion Dollar industry
(Ibisworld.com, 2018).

REFERENCES
Campbell, P. (2018). Current Population Projections: Population Projections Reports. [online] Census.gov. Available at:
https://www.census.gov/prod/2/pop/p25/p25-1131.pdf [Accessed 11 Feb. 2018].
Ibisworld.com. (2018). Home Builders (US) - Industry Research Reports | IBISWorld. [online] Available at:
https://www.ibisworld.com/industry-trends/market-research-reports/construction/building-developing-general-contracting/
home-builders.html [Accessed 11 Feb. 2018].
Realtor.com. (2018). Conroe, TX Housing Market, Trends, and Schools - realtor.com®. [online] Available at:
https://www.realtor.com/local/Conroe_TX [Accessed 11 Feb. 2018].

Thank You