MARKETING RESEARCH.

MARKETING RESEARCH
GROUP REPORT
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Table of Contents
1. Introduction...............................................................................................................3
2. Collection Method.....................................................................................................3
3. Survey Design..........................................................................................................6
4. Target population....................................................................................................10
5. Sample Size and Method.......................................................................................11
6. Conclusion..............................................................................................................12
References.................................................................................................................14
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1. Introduction
The real estate business of Australia is encountering huge competition that has
resulted in the decline of the commission, thereby effecting the developing of
projects. The commission had fallen from 2.5% in 2009 to 2.18% in 2016. The rate of
property management reduced by 7.3% in 2014 to 7% in 2016 (Deloitte, 2018).
Furthermore, the advancement of technology has created significant pressure on the
traditional agency, thereby extending the budget of real estate projects. The rising
cost in the project development and increased labour turnover in real estate
business has encouraged outsourcing of the labours from different countries.
Another uncertainty is satisfying the expectations of the vendors. 53% of the real
estate agents mentioned that their biggest challenge was to fulfil the price
expectation of the vendors. However, the most significant uncertainty that affects the
project development of the real estate was slowing down of the market due to the
declined purchasing power of the customers (Neary, 2019).
All these uncertainties are encountered by SKY HIGH Real Estate Developers in
Australia that is resulting in business risk. Hence, the management needs to carry
out a market analysis for developing effective business strategies. This report aims
to create a plan for the collection of primary data for SKY HIGH Real Estate
Developers that can help them to prosper in future. Focusing on technological
advancement and customer need can help SKY HIGH Real Estate Developers to
attain success in future.
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2. Collection Method
Gill et al. (2008) defined data collection as the procedure of obtaining and assessing
data on the variables of interest in a standardised way. Data collection is identified
as one of the significant stages of research. The process of data collection depends
on the research issue and begins with the determination of the data type and sample
population selection. In the given case, SKY HIGH Real Estate Developers needs to
know about the current perspective of the customers on real estate business for
understanding the uncertainty of the same. Hence, for this reason, it is essential to
gather updated and valid data that can guide SKY HIGH Real Estate Developers in
developing effective business strategies for a prosperous future.
The process of data collection can be divided into two categories, namely primary
data collection and secondary data collection. Quinlan et al. (2019) defined primary
data as the information obtained from the first-hand experience. The primary data is
reliable, authentic and updated. Collections of primary data can be expensive and
time-consuming. At times, it can be limited, and collection may be difficult due to
population scarcity or non-cooperation of the participants.
On the other hand, secondary data is obtained from the published sources like
books, journals, websites and government reports. The validity of the secondary
information is often doubted as it is not updated. However, obtaining secondary data
is easier as they are derived from useful published sources. Moreover, there is an
abundance of data available from where the researcher can sort his or her section
for helpful analysis.
SKY HIGH Real Estate Developers needs to analyse the future market trend of
property management business. For this, the researcher needs to gather updated
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