Marketing Research Report: Reducing Uncertainty in Real Estate

This report focuses on a marketing research project aimed at reducing uncertainty in real estate development. It begins with an introduction emphasizing the importance of managing risks and uncertainties in real estate investments, followed by a discussion on data collection methods, differentiating between primary and secondary data sources, and recommending a combination of both. The report then details survey design, including questionnaire examples for both surveys and interviews, and outlines the target population, which comprises 100 employees of Sky high real estate developers and five managers, emphasizing the need for structured interviews and surveys. Finally, it describes the sample size and method, including probability sampling techniques like simple random sampling, to ensure accurate and unbiased data collection for the research. The report concludes with a comprehensive analysis of the research findings and recommendations for future real estate development projects.

Running head: RESEARCH 1
MARKETING RESEARCH
STUDENT DETAILS:
9/15/2019

RESEARCH 2
Contents
Introduction........................................................................................................................3
Collection method..............................................................................................................3
Survey design....................................................................................................................4
Target population...............................................................................................................4
Sample size and method...................................................................................................5
Conclusion.........................................................................................................................6
References.........................................................................................................................7

RESEARCH 3
Introduction
The investment’s nature in the real estate by organizational as well as multinational
investor over the period has been concentrated greatly upon the direct real estate
asset; owing to appearing prospect as well as the advantages of high return.
When the real estate investment is fixed in place as well as time, and includes the
important capital outlay, then the capability to render investor with expected return is
matter of source’s array from that uncertainty affects the expectations. The real estate
development is considered as the entrepreneurial action, which includes certain
uncertainties as well as risks. These uncertainties and risks play significant role in the
failure as well as success of the decisions related to real estate development project.
The real estate development risks along with uncertainties are compounded through the
new development in real estate marketplace that has enhanced the complexity for the
investor and that of marketplace. It is very much essential for the investor to know the
effective manner to manage the risks and uncertainties in real estate market. The
investors should manage the uncertainty level and also incorporate it in the financial
analysis for a better success of the real estate development project in the future. It
would finally make the base of suggestion for the investors in relation to the investment
real estate outlay. It is required by the Sky high real estate developers that uncertainty
level should be decreased the upcoming project related to real estate development
project. In the following parts, it is recommended to Sky high real estate developers that
how to conduct research in relation to decrease the uncertainty level in future real
estate development project. This report also suggests the collection method, and the
target population to be focused. The below discussed parts also tell the sample size and
method to increase the accuracy of samples to be searched regarding the concerned
topic.
Collection method
The data collection method is very useful to collect the data in the methodological way
by using various sources for getting the objectives of research and aim of research. It
enables investigator to produce data in relation to the issue. This is very advantageous
to reach at a result in relation to research issue. The data collection is considered as the
method of collecting data from related resources for searching the answer to a problem
of research, test the hypothesis as well as assess the results. The data collection
methods are categorized in 2 categories such as the primary data collection method
and secondary data collection method. The primary data collection method provides the
data that is collected from new as well as first time by the investigator. For collecting the
primary data, the investigator conducts interview, survey through questionnaire case
study, group discussion as well as action research.

RESEARCH 4
Further, the secondary data collection method is used by the researcher as well as
organization for accomplishing research objectives and research aims. The secondary
data is considered as the published data that can be simply accessible by the
investigator for acquiring the relevant information. Secondary data is data that are
already published in the book, newspaper, online portal, journal as well as article.
There is the large quantity of data available in the sources regarding the research
area in business study, almost in spite of the nature of area of research. Consequently,
the application of proper criteria for selecting the secondary data to be utilized in
research has the significant role in term of enhancing the level of research soundness
as well as consistency. The criteria involve, however not restricted to the publication
date, author’s credential, and trustworthiness of sources, the quality of discussion,
detailed evaluation, and scope of contribution of text to research development area
(Montabon, et. al, 2018).
This research paper is depended on the requirement of reducing uncertainty level in
the real estate development project selects secondary data collection method as well as
primary data collection method (Zhang, 2015). In this matter, the primary data
collection’s sources are advantageous to create the direct relationship with participant
for getting the beliefs in relation to the issue of research. On the other hand, an
implementation of secondary data collection method is advantageous for generating the
detailed as well as theoretical understanding in relation to the issue of research. With
the help of this the researcher will be capable to collect the data from different sources
such as articles, website, books, and journals for increasing the validity of the outcomes
of research. For conducting this research, the primary data is collected by the interview,
focus group as well as survey through the questionnaire. This is very essential to collect
relevant along with valid facts in relation to the concern of research. This method can be
useful for the researcher to collect opinions from targeted people in relation to the
requirement of reducing uncertainty level in the upcoming real estate development
project (Lafortune, et. al, 2017).
Survey design
The sample design is considered as the framework as well as road map to serve base
for the selection of the survey sample as well as to affect various significant aspects of
the survey. The survey is useful in defining features of the larger population. This is
best research method can render the broad capability that makes sure more correct
samples for gathering targeted outcomes where to draw conclusion and take significant
decision (Wisnioski, et. al, 2015). The survey Design is the method of making
survey with the objective of getting maximum insight from survey. This involves the
utilization of online survey tool to design the survey (Lotz, et. al, 2017).
Survey through Questionnaire-
1. Please spell out the Gender?
 Male [ ]

RESEARCH 5
 Female [ ]
2. How many years of Experience do you have?
 0 to 1 years [ ]
 2 to 5 years [ ]
 6 to 9 years [ ]
 10 years and above [ ]
3. Please give your belief on the key method of reducing uncertainty level that
affects the success and failure of real estate development project-
 Strongly Agree
 Agree
 Neutral
 Disagree
 Strongly Disagree
4. Do you agree that the decision theory enables the investor to decrease level of
uncertainty ?
 Strongly Agree [ ]
 Agree [ ]
 Neutral [ ]
 Disagree [ ]
 Strongly Disagree [ ]
5. What is the key factor, which needs to evaluate uncertainty level in real estate
development projects?
 Property price [ ]
 Location of property [ ]
 Valuation method [ ]
 Risk taking capability [ ]
Interview Questionnaire-
1. What do you think that of uncertainty level affects the decision process in real
estate development project?

RESEARCH 6
2. How the level of uncertainty can be reduced in real estate development project
by Sky high real estate developers?
3. Is decision theory implemented to assess the level of uncertainty?
4. Which factors can affect the level of certainty in real estate development
technique ?
Target population
The target population is the entire group of the objects as well as people to
that researcher is interested in making the conclusion. In general, the target
population has different features. The target population is also considered as the
theoretical population. The target population for the survey is considered as whole set
of the unit for that the survey data is utilized to conduct the inference. In this way,
the target population refers to the units for that the finding related to the survey is meant
to simplify. Developing the study objective is a first step in conducting the survey.
Describing the target population is required to be taken as second step. The target
population should be described in particular, as a meaning decides whether sampled
matters are entitled or disqualified for survey. For conducting the research in relation to
the requirement of the reducing the uncertainty level in real estate development project
by the Sky high real estate developers, the target population will be 100 workers of Sky
high real estate developers. The researcher will conduct the survey on these employees
to get their opinion for the better solution of the problem related to research (Taylor,
Bogdan and DeVault, 2015).
Further, the investigator has to do interview with the participant’s group at the stage in
research wherever data may only be attained by meetings as well as having personal
connection with the section of the target audience. The interview offers the researcher
with the platform for prompting the participant as well as gets input in the desired
details. There are 3 basic kinds of the interviews conducted with target population in
study. The researcher will conduct the interview with five managers of Sky high real
estate developers on the topic of uncertainty level in upcoming real estate development
project (Nguyen, et. al, 2017). The geographic characteristics as well as temporal
features of the target population require to be delineating, and kinds of the units being
included. In certain example, the target population is limited to exclude the people that
are not possible and critical to conduct the interview. As expected, finding the proper
target population is very essential. But before considering the potential member
sources, this is worthwhile recognizing wherever not to look (Ness, 2015). By ending the
poor sources of respondent’s sourcing, the investigator may save money as well as time
when making focus on the efforts on right target people. In this way, the structured
interview and survey with the managers as well as employees will focus on correctness
of various answers because of which extremely organized information may be collected.
The different members have different types of the answers to similar structure of
question – answer attained may be collectively assessed (Leary, et. al, 2017). The
survey through questioner can be utilized to stay in touch with the larger sample of

RESEARCH 7
target population. In this way, the relation between researcher and the participant is not
formal by which investigator may simply know the margin of errors in case the
respondent either degrees to be the part of survey or is not had interest in rendering
the correct data (Marzouk and Aboushady, 2018).
Sample size and method
The sampling is the method, which permits the researcher to gather and conclude data
in relation to the population based on result from the population’s subset, without
making investigation of all the people (Squires, et. al, 2016). The sampling strategy is
described as selection of correct participant during the research, who gives answers to
the research questionnaires related to issue. There are various types of approaches of
the sampling. The types of sampling strategy include probability sampling strategy along
with non-probability sampling strategy. It is very helpful for the researcher to select the
proper observation from targeted population (Tidwell, et. al, 2017). As per this, on
probability sampling or random sampling method, the researcher starts with the
complete sampling outline of the eligible individual from that researcher can chose the
sample. The probability sampling technique is considered as the method of sampling
that is used to make random choice of the respondents. This technique facilitates equal
probability of choosing the participants. One way of getting the random sample is to
render the people in population the number, as well as then utilization of table of
random number for taking decision about the individuals taking participation. As per the
probability sampling methods, the simple random sampling permits the sampling errors
to be determined as well as decreases the bias in selection. A specific advantage is that
it is the most straightforward method of probability sampling. The drawback of this
method of sampling is that the researcher cannot not select adequate number of people
with the feature of interest, specifically if that feature is not common (Stufflebeam and
Coryn, 2014). This can also be critical to describe the whole sampling frame as well as
inconvenient to have interaction with them, particularly if dissimilar contact forms are
required (phones, posts and mail) as well as the sample unit is spotted over the wider
geographical areas (Goldstein, et. al, 2019). In contrast to this, a non-probability
sampling technique is a strategy in which researcher has not same opportunity to chose
the members. In this way, there are 5 significant potential resources of bias, which are
required to be considered at the time of selection of the sample, notwithstanding the
method (Quinlen, et. al, 2019). Sampling bias can be addressed while-
 the pre-determined sampling rules are moved away
 the individuals in hard to get group are misplaced
 There are lower rates of the responses
 the chosen people are replaced with other people. For instance if they are not so
easy to establish the connection

RESEARCH 8
 the out of date lists are utilized as sample frame (for instance, if this excludes
individuals who have moved to the areas recently)
For conducting the research in relation to requirement of reducing the uncertainty level
in upcoming real estate development project, the researcher will use non-profit sampling
strategy as well as profitability strategy. By using the probability sampling strategy, the
researcher can use the random sampling strategy for selecting the members for
conducting survey through the questionnaires. For this, 100 employees of Sky high real
estate developers are chosen as sampling size. On the other hand, in the non-
probability sampling strategy, the convenience sampling method is selected in relation
to selecting the participants for the interview. Under the respondents are selected as per
their knowledge, experience, and skills. For this dissertation non-probability sampling
strategy, five managers is selected for conducting interview with them. Under this
strategy, the researcher has sent mail for former consent to get previous approval of
these workers as well as managers of Sky high real estate developers to conduct
interview. The investigator has provided the guidelines in mail, as well as reason to
conduct the interview. At last, it can be useful to get reliable as well as valid outcomes.
Conclusion
As per the above analysis, it can be concluded that there are various forms as well as
means of the uncertainty in real estate development. This paper also evaluated the
numerous methods employed in management of the level of uncertainty by conducting
interview as well as survey with managers and employees of Sky high real estate
developers. The researcher has used primary as well as secondary data collection
method in conducting research. The researcher has used non-profitability as well as
profitability method in sampling. In this way, the general position from the review of
study stated the preference for real option model.

RESEARCH 9
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