Marketing Research for SKY HIGH Real Estate Developers - Assignment Help

• Introduction

Businesses make their investments based on proper planning facilitated by understanding of the present and future market factors. In the real estate industry, demography is a principle factor that shapes investment. SKY HIGH Real Estate Developers faces a challenge in understanding the Australian demographics to aid its planning for present and future investment. The company requires data related to the size of household, age of household members, and family income. Therefore, the firm must access population data and projection to plan its investment on the type of house to build. The data to use in the planning on the kind of property in demand today and the future will be collected from secondary source. The secondary sources in this study include data from Australian Bureau of Statistics, 4442.0 – Family Characteristics and Transitions, and other credible sources with demographic data on Australia.

• The research Process

• Define the Problem

Housing is an essential industry influenced by population. Since population is a changing element, the demand for houses changes with a change in population’s size, preferences, interest rates, rent, and prices. Companies in the real estate sector rely on demographic data and projections to plan for present and future development. The Real estate growth is highly dependent of the demographic trends, as changes in population, family size and income can affect the future of real estate sector in substantial manner.  SKY HIGH Real Estate Developers cannot make any future plans for investment without demographic data to understand its composition and other factors that will influence the housing sector.  Obtaining population data will help the company in determining the type of houses, prices and rent. The required data should capture the present household income and wealth, employment status, family size, and age of the household members. The income parameter will help in determining the pricing strategy, while the size and age of the family and its member influence the type of house and the amenities to include. For example, if the household has an elderly or disable person there are construction standards to meet to ease their movements. 

• Planning the Research Design

The study will use secondary data since it is easily available and cost effective. Additionally, it is impossible to collect primary data on the subject since we do not have the resources and expertise to conduct a nationwide data collection. Projecting national population trends requires the use of experts, resources, and confidential data that is outside the access of this research. The collection of population data is conducted by the Australian Bureau of Statistics and the projection of the population are calculated by the Australian Bureau of Statistics and the United Nation.

• Planning the Sample

The data obtained from Australian Bureau of Statistics has mainly addressed the whole population with an aim of identification of demographic trends of Australia. It indicates that research was more of census, than sample based study. Additionally, the overall data for Australian demographics and households is aggregate of the data for different states of Australia. It shows that data is highly inclusive and it is highly dependable for analysing the expected real estate trends of Australia. 

• Collecting the Data

To provide an accurate projection based on data, the research collected different types of data including changing demographic and social trends. The data collected include the national population size, family size, family composition, family income and wealth.