Real Estate: New Business Opportunity

Real Estate: New Business Opportunity

REAL ESTATE 1
Nico’s Properties is a privately held commercial real estate investment company in the
business for over fifteen years. Principal activities are acquiring, developing, managing,
renting and selling residential homes. Main priority of company is to provide renting facilities
to customers with no or poor credit history based on their income (Nico, 2018). To increase
sale, to get more profits and to get advantage over competitors the company can use the
digital platform. The introduction of E-commerce sites and mobile application will really
help the real estate business to attain new heights in the market and will create new
opportunities. This essay is designed to develop a new business opportunity for the business
by using digital platform. The process will include uniqueness of idea, target market, value
proposition, target customers, service provided by the company to its customers, opportunity
creation, recognition and discovery to fill the gaps of proposed idea, market research,
marketing planning and marketing mix, financial plan, and ways through which company will
make profits.
There are numerous advantages are associated with the E-commerce business like the e-
commerce websites overcome the Geographical limits people all around the world can access
the site to fulfil their requirements, it also helps in gaining new customers with search engine
visibility the customers who are not aware about the company, will come to know about it
and its business. The e-commerce site also reduce down the cost, eliminate the time of travel
and cost, also provide comparison, enable company to introduce new offers, deals and group
buying offers, create targeted communication, remain open all the time as per demand of
customers and create market for niche products (Ling and Archer, 2017). The E-commerce
website and Mobile application will contain various options for individuals who are willing
to buy residential homes or individuals who want to take house on rent. The E-commerce site
and application will contain pictures and short video with description of property with its

REAL ESTATE 2
rates or rates with offers for both renting and selling. After selecting the property the
customer can make call to the agent and agent will take charge from there.
Every individuals who are looking to buy a property or individuals who are looking to take
house on rent are the target audience of companies E-commerce website. More importantly
the individuals who have knowledge of using computers, laptops and mobile phone are the
main target audience for the company. In the current conditions almost every person use
mobile phone and other electronic devices for shopping online and all those people are the
target audience for the company (Buguin, Bisson, and Marrs, 2013).
Value proposition defines the benefits provided by the company to its customer with the help
of its products or services. The value proportion will state the strong difference between the
company and its competitors. By introduction of e commerce website the company will get
an edge over its competitors, the e commerce website will extend the number of customers
for the company and will also attract the customers of the company’s competitors. As the
website and mobile app are providing the facility of featuring pictures and short videos that
will save the time and cost of the customers by just watching the pictures and video they will
get the idea that which particular home is fulfilling their requirement
(Manela, 2016). Website and app will also show the price and rent of properties which allow
customers to select the property allowed by their pocket. The customer needs not to go to
each and every house or apartment to select their dream home. The website and app will also
show the offers on the special occasions and to their special or loyal customers they will offer
special discount offers on sale property and rented property. And one more special feature the
company will offer through the website and app is the customers can insert their requirement
through portal and the company will offer the property as per their requirement. There will
filter and sort option will be there in the website and app with the help of this feature
customers can search the desired property on the bases of price, rent, area, city and document

REAL ESTATE 3
required. The e-commerce site will really helpful in identifying the wants of customers and
with the help of website and app to fulfil the wants of customers.
The target customers for the company will those people who are willing to buy the house, the
target customers include married couple, active military person and individual with family
the respective age group for the target customers are from 25 to 50 around. And target
customers who want house on rent will be single boys and girls or couple who move in
together and the respective age will be 19 to 35. There are various sources available in the
market to reach the target customers or the promotional strategies to reach the target market
will be advertisement. Advertisement will take the significant portion of the company’s
budget but it is very effective tool of marketing the E-commerce site and app which will let
the customers know there is something is launched in the market to make their work easy.
The various ways of Advertisements are radio, newspaper, television and magazine and
digital marketing. Digital marketing is the newest and effective way of promotion (Goffee,
and Scase, 2015).
Opportunity creation refers to the set of beliefs, ideas and actions the enables the creation of
future goods and services in the absence of current market. The opportunity arises from
perceptions and behaviours combined in an attempt to create new economic articles. The
emphasis is on actions taken in a situation of true entrepreneurial uncertainty. Creation
opportunities do not exist independently of social construction. Opportunity creation enacted
through human imagination and social interaction as a continuous process. The opportunity
appears in the flexible activity of creating meaning, sense-making and sense-giving in an
ambiguous social context. Created opportunities are connected with true uncertainty, in
which neither supply nor demand exists nor future is unknowable. The opportunity discovery
defines as situations in which new goods, services, raw materials, markets and organising
methods can be introduced thought formation of new means-ends relationship (Cherif and