Holmes Institute Marketing Research Report - SKY HIGH Real Estate

This marketing research report focuses on providing recommendations to SKY HIGH Real Estate Developers to minimize uncertainty in future real estate projects. The report explores various data collection methods, with a primary emphasis on surveys and questionnaires. It details the design of a survey, including specific questions aimed at gathering information from potential and existing customers. The target population is defined as young adults, those seeking to sell or purchase properties, and those looking to relocate. The report suggests a sample size of 500 using a convenience sampling method. The study identifies key issues in the real estate market such as aging populations, changing consumer preferences, and economic uncertainties, recommending that the organization focus on infrastructure, disruptive technology, and sustainability. The report also addresses the importance of primary data collection and its advantages, such as ensuring data relevance to the specific research questions. The questionnaire design includes questions about demographics, preferences, and opinions on real estate services, aimed at understanding market trends and customer needs, so that SKY HIGH Real Estate Developers can make informed decisions and reduce the uncertainty in their future projects.

Running head: MARKETING RESEARCH
MARKETING RESEARCH
Name of the Student
Name of the University
Author Note

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Introduction
The main focus in this paper will be on the recommendations that will be provided to
the organization of SKY HIGH Real Estate Developers, who has decided to minimize the
level of uncertainty in real estate development projects for future purposes.
Recommendations or suggestions will be provided about conducting the research or the
collection method of the organization. A design of the chosen survey method will be
discussed in this paper as well. The target population will be described, to whom the research
will be conducted and the organization can strategize their plans accordingly for future
purposes (Ajmi et al 2014). The sample size and the method that need to be take and followed
by SKY HIGH Real Estate Developers will also be analyzed through which they will be able
to maximize the accuracy of the samples that will be researched and recommendations will be
provided accordingly. It has been found by various researchers and in studies that there are
main issues which are face by the different real estate organizations in and around the world.
The issues will grow bigger in the next three decades or so, if serious steps are not taken by
the business entities on immediate basis. Some of the issues which are identified are aging
population, debt burdens of the student, public funding, alteration in the demand for office
spaces, alteration in the demand for retail spaces, liquidity in the real-estate capital markets,
change and uncertainty in the global real estate market places, demand for more
sustainability, overvalue of the commercial properties in and around the market places and
political gridlock (Gauder, Houssard and Orsmond 2014).
The ever-increasing of rates in the global economy is also concerning a major issue in
the real estate market, which is forcing the organizations like SKY HIGH Real Estate
Developers to take necessary actions, so that they do not have to face any kind of loss in their
earnings, and maintain a minimum rate of profit margin to sustain in this highly competitive

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global market place (Kucharska-Stasiak 2013). The political uncertainty between the nations
is also making the situations worse in the market of real estate. For example, the region of
Australia possesses a stable government, but if any uncertainty occurs, the real estate sector
will be one of the sectors to be hit badly. The affordability of the housing due to stagnation in
the wages or salaries of the people, low supply of apartments and homes within the reach of
the people of all class and gentrification has hugely impacted the real estate market around
the region of Australia (Tabales, Caridad and Carmona 2013). The ever-changing tastes and
preferences of the new generation is also changing, mainly due to the advancement of
technology and changes in the demographics, along with the huge incoming and usage of e-
commerce and logistics in the global market places in real estate industry. According to the
researches, it has been found that there are certain areas which need to be recommended to
the organizations like SKY HIGH Real Estate Developers. They are infrastructure, disruptive
technology, natural disasters and climate change, immigration and energy and water, which
are regarded as one of the serious and widespread issue not only in Australia, bit also around
the world (Chow, Hafalir and Yavas 2015).
Collection Method
SKY HIGH Real Estate Developers has decided to reduce the uncertainty level in
future real estate development projects. So, it has become necessary to conduct the research
in order to collect the data from the market place. There are ay data collection methods which
are used in researches by different organizations. One of the methods which will be used by
the organization of SKY HIGH Real Estate Developers is surveys or using questionnaires.
The word data collection can be termed as the process or system of gathering as well as
measuring the information in a structured framework on variables of interest, which helps to
provide some answers against some given research questions. The data gathered are broadly

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classified into two categories. They are qualitative and quantitative. The major difference
between the two is the involvement of numerical figures in the methods. While quantitative
data collection method involves numerical figures, qualitative data collection methods do not
involve any kind of numerical figures. So, it can be said that the primary data collection
method chosen by SKY HIGH Real Estate Developers falls under the qualitative data
collection method (Johnston et al 2015).
Apart from survey and questionnaire, the organization can also use the method of
interview along with observations, to collect the data from the real estate market of Australia.
The main advantage of using these methods of primary data are that they will provide the
specific requirement to the problem stated in this paper, through which recommendations will
be formulated and followed by SKY HIGH Real Estate Developers. There will also be no
doubt about the quality of the data collected from the real estate market place in and around
Australia. Though collection of data under the primary data collection method and using the
techniques of interviews, questionnaires, observations and surveys, which will take a lot of
time and hectic schedules of performing the tasks along with the collection of the data by
person. In order to study the future market scenario on the basis of present market conditions
by SKY HIGH Real Estate Developers, it is necessary to collect the information required by
them from primary sources and work on that (D’alpaos and Canesi 2014). For example, the
number of persons who are willing to relocate from one place to other or the number of
persons who are not interested to buy any new property cannot be based on the data or
information given in magazines, newspapers or any other printed sources. Lack of interested
people or lack of cooperation may cause a problem while collecting the data from the market
place, but the data that will be collected at the end of a given time will be worthy enough to
carry on the research work by the business house of SKY HIGH Real Estate Developers and

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design the recommended steps that will be followed in order to reduce the uncertainty level
of the management of the organization (Kwek and Lee 2013).
Survey Design
From the above discussion, it is clear that SKY HIGH Real Estate Developers will
follow the primary data collection method, which will include the techniques of interviews,
questionnaires, observations and surveys. Here, a design of the questionnaire will be
discussed which will aid the business entity to collect the data from the real estate market of
Australia, so that the management can take necessary actions to stop or reduce the level of
uncertainty within the workplace and sustain in this highly competitive global market place
of buying and selling of various kind of properties (Lang and Scholz 2015). The
questionnaire will contain certain questions which will be asked to the existing customers or
clients of the organization, along with from the new people or prospects, and they will be
selected on random basis and questions will be asked to collect the data. The design of the
questionnaire is as follows:
Please tick on the box according to your fact, opinion or view:
What is the age group from which you belong?
20 – 30 years old
31 – 40 years old
41 – 50 years old
51 – 60 years old
61 year old and above

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What is your gender?
1. Male
2. Female
What is your occupation?
Student
Teacher
Doctor
Engineer
Service
Manager
Others
What is your permanent registered place certificate?
Rural
Semi-Rural

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Urban
Semi-Urban
Do you have the willingness to buy the real estate services of SKY HIGH Real Estate
Developers?
Yes
No
Maybe
To what extent according to you think the real estate services of SKY HIGH Real Estate
Developers are appealing?
Very Strong
Strong
Normal
Not at all
What according to you are the most appealing selling points of real estate products of SKY
HIGH Real Estate Developers?
Quality

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Design and Style
Location
Affiliates
Customer Service
Approach
Marketing and Promotion
Competitive Pricing
From which media do you know about SKY HIGH Real Estate Developers?
Social Media
Newspapers
Magazines
TV
Radio
Outdoor Advertisement
Events and Fairs
Others

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What according to you is the part of the real estate services of SKY HIGH Real Estate
Developers that should be improved?
Quality
Competitive Pricing
Associates
Location
Design and Technique
Is this your first time to buy a house?
Yes
No
What will be your payment procedures?
By Cash
By Loan
By Cheque
What do you think about the tendency of real estate prices in 2020?
Go Down

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Go Up
Remain Unchanged
What are the main elements required to buy a house according to you?
Location
Transportation
Price
Surrounding Environment
Property Management
Associated Facilities
Developer
Design
Target Population
The target populations of the organization of SKY HIGH Real Estate Developers, on
whom the research will be done, are the young adults, who are relocating from one place to
the other, mainly for work related issues, or may be for family or personal issues as well. The
people who want to sell their old houses can also be a good target audience, as they will also
be able to give a proper idea about the exact needs and requirements of the people of the real
estate market. The people who want to shift from their old residential to the new ones, for the

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issues like increase in the number of family members or others can also be a good target
audience (Brounen and de Koning 2013). All these people will be the appropriate target
audience for the research. According to the issues identified by the organization of SKY
HIGH Real Estate Developers, like aging population and demand for more sustainability,
these people will provide a somewhat accurate data which will help the business entity to
take necessary actions to reduce the uncertainty level. The real estate market is facing a bad
patch not only in Australia, but also in and around the world. So, the organizations have to
reduce the unnecessary expenses in order to avoid of incurring loss ore dip in the revenue
generation for the companies like SKY HIGH Real Estate Developers. From the survey that
will be done on the targeted audience will aid the organization to know the exact requirement
of the people or the customers of the real estate market in Australia. This will aid to build the
properties according to the requirements of the people and prepare a limited number of real
estate properties for the identified prospects from the survey, who may be targeted later and
turn them to clients, thus reducing the uncertainty level among SKY HIGH Real Estate
Developers (Crowe et al 2013).
Sample Size and Method
The sample that needs to be targeted in the research method by the organization of
SKY HIGH Real Estate Developers is 500, by using different methods of primary data
collection method. If the research will be done on more number of people, for example, the
sample size of 500, more data can be gathered from the market place, which will help the
organization to know the exact needs and wants of the people towards the real estate
properties, so that they can prepare them according to the requirements of the people and in
limited numbers, so that less number of properties will remain unsold if anything negative
occurs in the real estate market place of Australia (Li et al 2016).

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The sampling method that can be utilized by SKY HIGH Real Estate Developers will
be convenience sampling method, which falls under the non-probability sampling method. It
is termed as the easiest method of sampling, just because the participants are selected based
on their willingness as well as availability to take part in the data collection method. This will
help SKY HIGH Real Estate Developers to maintain the accuracy level while sampling the
collected data. Helpful data collected will be analyzed by completion of the sampling
method, which will be performed ethically. The usage of the sample size and the sampling
method will help the organization of SKY HIGH Real Estate Developers to divide the
different kinds of needs and want from the customer point of view and can strategize their
plans accordingly (Rogers 2016).
Conclusion
From the above discussion, it can be concluded that the real estate market is facing
threats, which are hampering the revenue generation for the companies like SKY HIGH Real
Estate Developers as well as increasing the level of uncertainty among the people associated
with this sector. In order to reduce this uncertainty level, the conducted market research will
help SKY HIGH Real Estate Developers in the overall region of Australia and where the
properties of the organization have their presence to sustain ethically and maintain the
revenue generation for the organization. The recommended steps like exactly knowing of the
requirements of the people towards the real estate market can be known, and plans can be
made according to the outcome of the desired market research. Excess payment in the form of
payment to the advertising agencies and to the suppliers of the raw materials can be reduced,
which will also help to maintain the profit earning mentality of the business entity of SKY
HIGH Real Estate Developers. As no more development will be entertained and only those
properties will be made according to the preferences like location, affordability, price and