Marketing- INDIVIDUAL POSTCODE ASSIGNMENT Essay Example

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    3
  • Words:
    2235

Cover Page

Assignment: Individual Postcode Assignment

Contents

Executive summary 4

Introduction 5 1.

1.1 Purpose 5

1.2 Scope 5

1.3 Background 5

Postcode Overview 5 2.

2.1 Main Shopping Prescient 5

2.2 Main forms of transport 6

2.3 Main Roads 6

2.4 Schools, Tafe, Universities 7

2.5 Leisure, Recreational Areas 7

2.6 Restaurants, Cafes, Entertainment 7

People Living in the postcode 3214 83.

3.2 Marital Status 9

3.3 Education 9

3.4 Weekly income 10

3.5 Employment Status 11

3.6 Hours Worked 11

3.7 Occupation 12

3.8 Family composition 13

3.9 Family Size 13

3.10 Dwelling Structure 13

3.11 Number of bedrooms 14

3.12 Ownership Status (Tenure) 15

3.13 Number of registered motor Vehicles 15

3.14 Price Guide 16

4. Recommendations 17

5. Conclusion 17

Reference List 18

Executive summary

Marketing research is one of the most influential fields in business. It plays a vital role in the success of any business. Proctor and Barbara argue that “Marketing research is the function that links the consumer, customer and public to the marketer through information – information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions” (Proctor and Barbara, 2012 p.20). Thus, this clearly indicates that The ALPHA PROPERTY DEVELOPMENT GROUP company must conduct an in-depth to achieve the best out of the investment at 3214: Ming Corio Norlane North Short area.

The report critically analyses the area on issues such as demographics to ensure that the investment is successful. It will therefore be very effective and efficient in coming up with the best type of property that the company should invest in the area. The report therefore presents analysis of the postcode are 3214. Issues such as employment status, income, average age and the price index will be carefully analyses. In addition to that, comparison with Australia will be made. Finally, after carefully analyzing the Geo-demographics of the area, the information will be use by Alpha Property Development Group to make the right decisions on the investments to make. All these will enable reaching at the best recommendations.

  1. Introduction

1.1 Purpose

The main purpose of this market research is to clearly analyze postcode 3214: Ming Corio Norlane North short. The geo-graphics and demographics of the area will play a vital role in ensuring that Alpha Property Group makes the best solutions regarding their strategy to invest in the region.

1.2 Scope

The primary section of this report is marketing research. An in-depth and detailed research will be conducted to ensure that the company arrives at the best conclusion on which type of property to invest. Again, market segmentation will be analyzed and documented in detail. Here, the geo-demographics and demographics will be emphasized. The postcode’s Quick stats as revealed by The Australian Bureau of Statistics (ABS) will be the main reference.

1.3 Background

Kent argues that “in order to make the best decisions, marketing managers in both commercial and noncommercial organizations must have the right information” (Kent, 2007 p.3). Thus, this clearly suggests that information is very important. Alpha Property Development Group need to collect this information in order to come up with the best solution. Choosing the right investment needs an in-depth analysis of the region of interest. The research thus will go a long way in ensuring that the investment is successful and profitable. Geo-demographic variable plays a vital role in reaching the most precise and useful information.

  1. Postcode Overview

2.1 Main Shopping Prescient

Kmart Corio is one of the most popular Shopping Centres in the area.

marketing- INDIVIDUAL POSTCODE ASSIGNMENT

2.2 Main forms of transport

The primary mean of transport in the region is cars and buses. People prefer the road transport as the means to reach the work place, schools and do business. However, some also walk. This is especially those who work in the close companies. In addition to that, people also use trains. There is a two hour train to Geelong and Melbourne. These means of transport provide individuals with means of reaching the business centers and other social amenities.

2.3 Main Roads

The Boulevard, Morgan Street, North Geelong — Corio-Waurn Ponds Road, Norlane, Arterial #5885. North Shore Road, Corio-Waurn Ponds Road andNorlane — Bayside Roads are among the main roads connected the are to other areas.

marketing- INDIVIDUAL POSTCODE ASSIGNMENT 1

2.4 Schools, Tafe, Universities

marketing- INDIVIDUAL POSTCODE ASSIGNMENT 2

There are no several schools, universities in the region. The most to be located by the google maps is Matthew Finders Secondary College.

2.5 Leisure, Recreational Areas

marketing- INDIVIDUAL POSTCODE ASSIGNMENT 3

The main leisure and recreational Centre’s include Leisure Networks Association Inc., Leisuretime Centre and Waterworld. The google maps above shows clearly.

2.6 Restaurants, Cafes, Entertainment

One of the most renown Hotels in the area is Gateway Hotel. It is has a modern bar and café where people meet for drinks and entertainment events.

marketing- INDIVIDUAL POSTCODE ASSIGNMENT 4

3. People Living in the postcode 3214

3.1 Age

Age

3214, Vic

Australia

0-4 years

1,421,050

5-9 years

1,351,921

10-14 years

1,371,054

15-19 years

1,405,798

20-24 years

1,460,673

25-29 years

1,513,236

30-34 years

1,453,775

35-39 years

1,520,138

40-44 years

1,542,879

45-49 years

1,504,142

50-54 years

1,447,404

(Source: ABS, 2011)

From this, we can see that the average age of between the postcode 3214 (36 Years of age), Victoria (37 Years of age) and Australia (37 Years of age), is that there are adults who are living in suburban areas probably living in the comfort of a family area with or without their families and having work close to home and maybe a few that travel to the city.

From the table below, even more informative, there is an average in all ages of about 1500 people (ABS, 2011).

3.2 Marital Status

Table 2 Registered marital status

3214, Vic

Australia

8,461,114

Separated

Divorced

1,460,899

Never Married

5,962,769

(Source: ABS, 2011)

The median age for the married is 54 years while those who never married is 26 years. However, the percentage of those married is 37.4% compared to 49.% and 48.7 of Victoria and Australia respectively. This clearly indicates that if the number of people getting married increase, the number of children born will increase. This will lead the parents to search for employment.

3.3 Education

Education

3214, Vic

Australia

Pre-school

Primary — Government

1,181,787

Primary — Catholic

Primary — Other Non Government

Secondary — Government

Secondary — Catholic

Secondary — Other Non Government

Technical or further education institution

University or tertiary institution

1,511,694

6,503,580

(Source: ABS, 2011)

The percentage of the young joining preschool is 4.9%. It is slightly lower when compared to Victoria and Australia which are at 5.6% and 5.1% respectively.

3.4 Weekly income

Median weekly income

3214, Vic

Australia

Personal

Household

(Source: ABS, 2011)

The median weekly income for personal, family and household is 371, 894 and 752 respectively. All these figures are lower when compared to Australia meaning that the living standards were slightly lower.

3.5 Employment Status

Employment status

3214, Vic

Australia

Worked full-time

6,367,554

Worked part-time

3,062,976

Away from work

Unemployed

Total in labour force

10,658,460

(Source: ABS, 2011)

When compared to Australia, postcode 3215, Vic is lower in percentage that worked full time, part time and away from work. However, it has a 11.8% of the unemployed which is higher when compared to 5.6 % of Australia. The area 3214 therefore should focus on reducing unemployment by creating more job opportunities.

3.6 Hours Worked

Hours worked

3214, Vic

Australia

1-15 hours per week

1,087,799

16-24 hours per week

35-39 hours per week

1,808,879

40 hours or more per week

4,558,678

(Source: ABS, 2011)

According the date above that, there is a higher percentage of those who are working over 40 hours. It is also high in Australia. It clearly indicates that the majority of the workers are working for more than 40 hours.

3.7 Occupation

Occupation

3214, Vic

Australia

Laborers

Technicians and Trades Workers

1,425,146

Machinery Operators And Drivers

Community and Personal Service Workers

Sales Workers

Clerical and Administrative Workers

1,483,558

Professionals

2,145,442

Managers

1,293,970

(Source: ABS, 2011)

Generally, there is a higher rate of the jobs in postcode 3214 when compared to Australia. Occupations such as laborers, drivers and machinery outshine the percentage in Australia. However, it is lower in the percentage of professionals and managers. They should therefore focus on the more important and professional jobs.

3.8 Family composition

Family composition

3214, Vic

Australia

Couple family without children

2,150,301

Couple family with children

2,534,399

One parent family

(Source: ABS, 2011)

The rate of couple family without children and with children at 31.4% and 35.4% respectively were lower compared to 37.8% and 44.6% of Australia. It was proved postcode 3214 is a good area and most of children got a perfect family.

3.9 Family Size

Family size

3214, Vic

Australia

(Source: ABS, 2011)

Family sizes of people living in postcode 3214 were 1.8 lower than the average of Australia. It indicates that the area should build more unit or apartment to meets the family size.

3.10 Dwelling Structure

Dwelling structure

3214, Vic

Australia

Separate house

5,864,574

Semi-detached, row or terrace house, townhouse etc

Flat, unit or apartment

1,056,237

(Source: ABS, 2011)

According the date, the rate of Separate house and Semi-detached, row or terrace house, townhouses were higher than Australia, 89.3%:75.6%, 3.9 %:9.9%. It means that the style of dwelling house is Semi-detached, row or terrace house, townhouse in postcode 3214.

3.11 Number of bedrooms

No. of bedrooms

3214, Vic

Australia

None (includes bedsitters)

1 bedroom

2 bedrooms

1,481,577

3 bedrooms

3,379,930

4 or more bedrooms

2,350,132

Number of bedrooms not stated

Average number of bedrooms per dwelling

Average number of people per household

(Source: ABS, 2011)

The date show that the rate of number of bedrooms of 1 &3 is higher than Australia 4.8:4.7, 63.8: 43.6On the other hand, the rate of 2 bedroom is 17.5% were very lower than Australia.

3.12 Ownership Status (Tenure)

3214, Vic

Australia

Owned outright

2,488,149

Owned with a mortgage

2,709,433

2,297,458

Other tenure type

Tenure type not stated

(Source: ABS, 2011)

According the date, all styles of tenure were lower than Australia, which is owned outright 29.5%, owned with a mortgage 26.7%, other 0.7%, apart from Rented and tenure type not stated which were higher at 39.2% and 4.0% both respectively.

3.13 Number of registered motor Vehicles

No of registered motor vehicles

3214, Vic

Australia

1 motor vehicle

2,778,576

2 motor vehicles

2,802,468

3 or more vehicles

1,279,134

(Source: ABS, 2011)

Owning one motor vehicle was the choice of most of families in postcode 3214 which made up nearly 50 percent, and it was higher than the percentage of that of Australia. None and one motor vehicles registered in this postcode were also more than Australia. Three or more motor vehicle (10.9%) and two (28.7%) were less than Australia. The area near to city, so one vehicle is the best choice to people living in this area (Trends, 2007).

3.14 Price Guide

Prices of mortgage and rent

3214, Vic

Australia

Median weekly rent

Median monthly mortgage repayments

1170

1647

(Source: ABS, 2011)

According to this date, the median weekly rent was $189 and the median monthly mortgage repayment was $1,170.

4. Recommendations

According to the date from ABS, the company should use geodemographic marketing research and market segmentation. It can lead to better and more efficient target marketing. The segmentation system, a wide range of demographic features is analyzed, including income, age, marital status, education, and the ownership of the house. General situation of the market, therefore, to create a more precise, can help the company market portfolio of products and services. The median age of people living in postcode of 3130 is 36, the ALPHA PROPERTY DEVELOPMENT GROUP should build more medical clinics and gyms to improve the physical quality. About the family size and income, people living in postcode of 3214 is 1.8 children per family and weekly income is 894 (family) lower than Australia. Therefore, the APD should to use segment markets, if people can affect the value of houses; the manager can build more senior apartment or unit what type of people their desires for certain lifestyles(Ziliani, 2000). In addition, ALPHA Property Group should use Micro-marketing; it includes segmentation, organization and technology. Micro-marketing build competitive advantage for the company’s credit and the knowledge of intangible assets, and this is by refining the process of direct marketing share (Cohen, 1998).

5. Conclusion

Effective Research marketing, Geo-demographic, marketing mix and micro- marketing are thecore principles for the quality marketing research. It clearly compares postcode area 3214 with Australia. Here, the issues such as employment status, income etc. are clearly compared and the percentage variation is documented. Primarily, this comparison enables the investors to come up with the best decisions on the type of the properties to invest. Thus goes a long way in guaranteeing that their investment will reap maximum outcomes. Finally, the environment of postcode area 3214 is clearly conducive for investment. The availability of social amenities, good infrastructure such as roads and also leisure and recreationalCentre’s are all catchments of customers. Thus, APD will succeed with their investment here.

Reference List

Australian Bureau of Statistics. 2011., Retrieved from http://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/quickstat/POA3214?opendocument&navpos=220

Australia, Y.B., 2008. Australian Bureau of Statistics. Canberra, Australia.

Kent, R., 2007. Marketing Research: Approaches, methods and applications in Europe. London: Thomson Learning.

Wedel,M., 2000. Marketing segmentation: Conceptual and methodological foundations pp.7. Springer.

Proctor, T. and Stone, M.A., 2004.Marketing Research.Macdonald and Evans.

Trends, A.S., 2007.Australian Bureau of Statistics. Canberra: Commonwealth of Australia.

Ziliani.C.,2000. The International Review of Retail, Distribution and Consumer Research, “Retail micro-marketing: strategic advance or gimmick?,vol.10, no.4,pp.355-368.

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