Marketing Research: Case Study

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1. Introduction

The real estate development refers to a business procedure that includes the activities from the renovation and re-lease of a building to purchase and sale of development lands. In the recent scenario, transformations of construction mechanisms are one of the main mechanisms of intervention by the people themselves. People are expecting more better and durable houses from real estate developers. The following research paper will highlight the emerging problems of Sky-high real estate developers. The problems include lack of availability at indoor space, spatial. In addition to that, technology has been quite a significant solution to solve this problem. A well-structured and reliable building requires a proper and adequate availability of technological advancement. In order to gather all the relevant data, the researcher has delivered four open-ended questions to the developers of Sky High real estates.

2. Research process

2.1 Definition of the problem

In recent times, technology has changed the way, through which most of the business organizations are transacting their business activities as real estate developers has managed to get benefits from the improved efficiencies of technology (Andersen et al. 2018). Sky High real estate are facing various demands from their consumers. They are demanding more availability of indoor spaces in their apartments. However, it is difficult to manage such a blueprint that provides the required space inside of the apartment, while placing all the furniture and other important things. Therefore, the organization needs to adopt such a technological solution that can be effective to find out the solution to this problem. Another concern that has been observed is the cost of maintaining the disruptive technology which is an important factor that may prove as a continuous challenge (Cerutti et al. 2017).

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2.2 Planning the research design

Research design refers to the set of methods that and procedures that are used for collecting and analyzing the measurements of different variables of a particular research. This research paper uses secondary data to understand the problems of Sky High real estate. It has been observed that, in order to fulfill the demands, related to indoor space, the company is facing various challenges. It has been observed that surveying the consumers, for collecting the primary data, will not highlight the potential problems. Therefore, the research demands such an interactive session with the internal developers of the company that can highlight the issues and their possible solutions (Eraker et al. 2015). The researcher has taken appointments with the developers and according to their provided schedule the semi-structured the interview has been conducted (Florance et al. 2015).

2.3 Planning of the sample

In order to collect the relevant secondary data, the researcher, has developed four open-ended Questions that were asked to three of the developers of this organization For conducting a semi-structured interview process. Their answers to the question were analyzed afterward that has provided a perception regarding the issues to the researcher. Among these three developers, that have taken part in the research, one of them belongs to the management department. Another one has vast experience in this particular field, while the third developer is an intern of Sky High and working as a trainee.

2.4 Data collection

Data collection process refers to gathering and measuring the information on the variables of interests, through an established and systematic manner, in order to enable an individual to give answers against the stated research question. The following research have conducted a semi-structured interview session with three of the developers of Sky High real estate, in order to collect the secondary data.

Question 1: What are the indoor space expectations of the consumers?

Developer 1

Developer 2

Developer 3

‘I have observed that, consumers are expecting such free indoor spaces in their accommodations, in which they can place all their essential furniture and other belongings quite efficiently.’

‘Consumers expect that, the indoor space of their apartments must allow their children to perform all sorts of activities without any kind of discomfort.’

‘There are consumers who want such free indoor spaces in their accommodation, so that they can setup their important types of machinery, such as gym equipment, and other stuff.’

Question 2: What are the basic architecture demands of the consumers regarding technology?

Developer 1

Developer 2

Developer 3

‘Consumers demand that their accommodation will remain undamaged from all sorts of natural disasters.’ ‘Consumers demands that their accommodation can easily be modified according to their expectations’ ‘Consumers demands advance technology must be used to architect their houses to ensure their privacy as well as security.’

Question 3: What are the probable solutions that can remove the indoor space utilization problems?

Developer 1

Developer 2

Developer 3

‘We should use such material for the construction that can allow the consumer to upgrade and change the interior of their indoor space as per their wish.’ ‘We should introduce portable and folded furniture that will provide an additional space after getting folded into the wall.’ ‘The thickness of the the wall must be reduced so that additional indoor space can be utilized.’

Question 4: What are the technologies that can be adopted?

Developer 1

Developer 2

Developer 3

‘We must acquire an advanced software solution. Through which we will be able to provide a modern and more efficient and reliable accommodation to the consumers.’ ‘We must use modern computer software, through which we can make an efficient blueprint before construction.’ ‘Our acquired technology should be able to identify all the relevant gaps in our blueprint. In addition to that, it must provide the necessary solution to problems.’

2.5 Data analysis

Data analysis refers to the process that evaluates the data by using various analytical and statistical tools in order to discover the information for a business organization to take the appropriate decision. The following study has collected secondary data through conducting a semi-structured interview among three developers of Sky High real estate (Fu et al. 2015). Developer 1 stated that consumers want more indoor space in their apartments so that they can make a certain room for placing each of their furniture and other belongings. Moreover, developer 2 stated that consumer expects sufficient area in their indoor so that their children can easily play around more comfortably, without meeting any sort of obstacles in the dining. In addition to that, developer 3 has identified the need of consumers, who need a sufficient room for placing their types of machinery, such as gym equipment (Hartmann, 2015).

The researchers have also identified various architecture demands of the consumers. According to the Developer 1, Consumers demand that their accommodation must be built out of strong and reliable material so that it can protect them from all sorts of natural disasters. Developer 2 has responded that consumers demand such flexibility in the architecture so that they can easily modify their interior. Moreover, developer 3 has said that consumers demand the utilization of security and privacy, through the adoption of advanced technology (Lamberton and Stephen, 2016).

The researcher observed the answers of the developers in the context of probable solutions that can help the company to remove the indoor space utilization process. Developer 1 responded that the company must use such materials that can allow consumers to easily rebuild or change their interior according to their wish. Developer 2 said that portable and folded furniture can effectively increase the indoor space of the accommodations. According to developer 3 thickness of the wall might be proven effective in increasing the free space of the apartment (Malhotra, 2015).

In addition to that, developers said that there are different technological options through which these issues of free indoor space can be solved. Developer 1 said that adopting advanced software can help the organization to provide reliable accommodation to the consumers. Developer 2 has responded that through the use of modern and advanced computerized software the company can build an efficient blueprint that can deliver additional help. According to developer 3, the organization must adopt such technology that can identify all the gaps of the blueprint that might be proven disastrous at the construction site. Furthermore, such technology will also help to find out the necessary solution to the problem.

3. Conclusion

From the above discussion it can be concluded that, in the recent scenario, the perspectives and aspects of the real estate business have changed a lot. Consumers are demanding more efficient and upgraded architecture solutions. The demand for additional indoor spaces in their accommodation so that they can easily do their regular indoor activities while having a free space to install all of their necessary objects. The following research shows the relevant problems of Sky High real estate regarding additional indoor spaces. The researcher has conducted a semi-structured interview with three of the developers of this organization to gather relevant secondary data. The developers reflected that it is essential for the organization to adopt various technological innovations for providing a better service to the consumers. They said that there are various techniques through which the company can provide an efficient indoor free space in the accommodations. Technological support can help to develop such a blueprint of the building which consists of additional free space as demanded by the consumer. Moreover, safety and reliability are also one of the main concerns as consumer demands a protective and strong architecture of their accommodation, so that it will protect them for all sort of natural disasters.

4. References

  1. Andersen, S., Marx, J., Nielsen, K.M. and Vesterlund, L., 2018. Gender Differences in Negotiation: Evidence from Real Estate Transactions. Department of Economics, University of Pittsburgh
  2. Cerutti, E., Dagher, J. and Dell’Ariccia, G., 2017. Housing finance and real-estate booms: A cross-country perspective. Journal of Housing Economics, 38, pp.1-13.
  3. Eraker, D., Dougherty, A.M., Smith, E.M. and Eraker, S., REDFIN CORP, 2015. Web-based real estate mapping system. U.S. Patent 9,213,461.
  4. Florance, A.C., Evatt, B., Bohl, S. and Merritt, J., Costar Corp and CoStar Group Inc, 2015. Method and apparatus for managing real estate data. U.S. Patent Application 14/656,582.
  5. Fu, Y., Liu, G., Papadimitriou, S., Xiong, H., Ge, Y., Zhu, H. and Zhu, C., 2015, August. Real estate ranking via mixed land-use latent models. In Proceedings of the 21th ACM SIGKDD International Conference on Knowledge Discovery and Data Mining (pp. 299-308). ACM.
  6. Hartmann, P., 2015. Real estate markets and macroprudential policy in Europe. Journal of Money, Credit and Banking, 47(S1), pp.69-80.
  7. Kurlat, P. and Stroebel, J., 2015. Testing for information asymmetries in real estate markets. The Review of Financial Studies, 28(8), pp.2429-2461.
  8. Lamberton, C. and Stephen, A.T., 2016. A thematic exploration of digital, social media, and mobile marketing: Research evolution from 2000 to 2015 and an agenda for future inquiry. Journal of Marketing, 80(6), pp.146-172.
  9. Malhotra, N.K., 2015. Essentials of marketing research: A hands-on orientation. Essex: Pearson.
  10. Moshir, K.K., Moshir, S. and Shafiezadeh, H., CellTrust Corp, 2017. Dissemination of real estate information through text messaging. U.S. Patent 9,848,081.


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