Marketing Strategy for Alpha Property Development

Question: Discuss about the Marketing Strategy for Alpha Property Development. Answer: Introduction The study will focus on selecting a target market for Alpha Property Development that is focused in investing vital amount of money into property building in Australia. The company has already developed many commercial and residential complexes and buildings across many regions of Australia. The targeted area of the company will be described in terms of characteristics of population, characteristics of the residential areas, shopping centres, transport, and special characteristics of the area. The marketing theory of segmenting and targeting of the company is defined in terms of the selected postal code of Australia. The comparisons of the type of population of that area along with the other populated areas of the country are to be discussed. Application of marketing theory The postal code selected for Alpha Property Development is 3011. The marketing theory of segmenting targeting and positioning will be discussed against the postal code of 3011. The different variables used by the segmentation are demographic, behavioural, geographical, psychographic segmentation in the perspective of the 3011 area of Australia. Segmenting Segmentation of a product can be done by using several variables that will be discussed in the basis of the area selected by the company. Demographic: Demographical characteristics include education, income, socio-economic status, family size, age, situation, etc. The prosperous, upper middle class people, rich people, upwardly mobile, young, family person, people aged between 30 to 60 years of age, etc are to be targeted by Alpha Property Development. Geographic: Geographic segmentation is defined as the physical location of the area that Alpha Property Development target 3011 postal code of Australia. The urbanites, outback Australians and the inner city dwellers are targeted by the company while doing investment (Bo Liu et al. 2014). Geoclusters or geodemographics: It is defined as the combination of variables of demographic and geographic variables. The area is a popular urban area of Australia. There are many high class people who are engaged in business and jobs in multinational organizations that are targeted by the company in order to sell their apartments to them. Apart from that, the area is posh which have all the amenities of a metropolitan area (Schiffman et al. 2013). Psychographics: The lifestyle, personality and the social characteristics of the consumers are considered in this aspect. The psychographic variables include active professionals who are young and club going. They are socially aware of the facts of the real estates and are traditionalists in nature. The company will target people living in fashionable and high class lifestyle that maintains a particular status in the society (Khoo-Lattimore and Prayag 2015). Behavioural: In terms of behavioural segmentation, it can be said that the usage behaviour, purchase consumption. It can be said that the people residing in the region of Australia are quality conscious in nature, luxury seekers, less price conscious, high buying readiness of luxury apartments, early adopters of trends and technology. However, the purchase frequency of the consumers both for the residential apartments and commercial apartments can be variable. They are high benefit sought related to the products served by the company (Venter, Wright and Dibb 2015). Targeting Targeting can be done in terms of primary target market, secondary target market. The marketer will have to focus on the geo-demographics, demographics of the region. The company on choosing the target market will focus on few aspects such as segment growth and size, segment structural attractiveness, resources and company attractiveness. The government statistics of Australia regarding the postal code of 3011 represents many economic and socio-cultural factors of the area. The characteristics on the basis of the variables of segmentation, and the best criteria suited for the marketing activities are to be considered by the company (Gengler and Mulvey 2017). Characteristics of the target market The real estate companies of the Australia have to check many things while investing in a certain area of Australia for building commercial sectors and residential sectors. The industry run by loans and the marketers earns profit by selling the apartments to potential customers. If the selection of the area becomes wrong, then the company will make a huge loss. The target markets of the company chosen have many facilities like that of cafes, catering services, restaurants, bars, clubs, taverns, shopping malls, etc (Diamantopoulos, Ring, Schlegelmilch and Doberer 2014). The availability of the transport system rail transport, water freight transport, air and space transport, sightseeing transport and scenic transport, etc. which is a plus point for the commercial buildings for doing business with the companies. The possibility of the company in building construction of commercial buildings in doing profits in that region is high. The target market for investment is based on conducting extensive research regarding the economic and socio-cultural factors of it (Hollensen 2015). Comparison of the population of the selected area It can be said that the population of the selected area has ample amount of facilities like wholesale trade, mining, manufacturing, arts and social assistance, warehousing, postal, public administration, different types of technical services and scientific research services, management consulting services like corporate head offices, employment service, labour supply services, tour arrangement services, gardening services, state government policies. The child care services and the other social assistance services of the postal code are improved. However, the place is connected with a well framework of transport system that helps the people to travel in any parts of the world. The reports of government have stated the fact that property operators are characterised as residential property and non-residential property (Ananda et al. 2014). Conclusion Demographic segmentation, psychographic segmentation, behavioural segmentation, geographic segmentation, etc. variables are used in selecting the postal code of Australia. The reasons of focus on those specific variables are explained in details so that the company can make a right decision regarding the development of residential and commercial buildings in that area. The geo-demographics and demographics of the selected area will help Alpha Property Development will help the company in making an investment in the Australia. The different strategies of targeting help the company while marketing their properties in that area of the country. References Ananda, A.S., Hernndez-Garca, . and Lamberti, L., 2014, June. RENL: A framework for social media marketing strategy. In1st Annual EDIM PhD Conference, Milan, Italy(pp. 11-12). Bo Liu, H., McCarthy, B., Chen, T., Guo, S. and Song, X., 2014. 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