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  • Coldwell Banker- want to gain advantage over Re/MaxIKEA-interested in innovative marketing and put 70% of budget in product catalogue marketing
  • Motivating distribution: Reduction of the distributor’s cost of doing businessBy increasing efficiencies of agents we have helped the agencies gain profit because the agents are able to show more homes per day
  • Generate interest initially, that’s how we get our actual investor


  • 1. P.R.I.D.E“We take PRIDE in helping you create the home of your dreams”.
    By: Blake Dudek, Adam Hauff, Yana Klebanov, Leo Martinez, Shanil Patel & Katherine Patton
  • 2. Introduction
    Company/Product Overview:
    Targeting online real-estate industry
    360° Panoramic view
    Real time virtual tour
    Customization (home-furnishings industry)
    Add Furniture
    Wall Color
    24-hour technical support team
    Progressive. Remote. Innovative. Design. Experience.
    Mission Statement: “Provide customers with the comfort, flexibility, and innovation to experience a revolutionary property search, on an online customizable platform.”
  • 3. Primary Market Research
  • 5. Secondary Market Research
    Market Assessment:
    Real Estate Sales & Brokerage
    $87.7 billion revenue
    Residential Sales = 50% of Product & Services segmentation
    Annual growth 5.0% next 10-15 years
    Industry expected to grow in 2011 by 3.6%
  • 6. Secondary Market Research Continued:
    Current Market Competitors
    Top 10 Virtual Tour Vendors
    Source: - Real-Time Competitive Intelligence. All data shown from March, 2010. *Custom subcategory defined.
    Top Competitor Market Prices:
    Visual Tours (direct competitor)
    $199 starter kit, $29.95 monthly cost
    Tour Factory
    $1458.60 (annual subscription costs+ add on features per home)
  • 7. Primary Target Market
  • 8. Tactical Launch Decisions
    Launch Tactic: Price
    Introductory Pricing: Exclusive Realtor
    Market Research shows: Coldwell Banker will pay $1000 flat rate fee per house
    Charging home-furnishing company $5,000 per month
    IKEA chosen for home-furnishing host
  • 9. Tactical Launch Decisions
    Launch Tactic: Place
    Located on realtors website
    Website description
    Home on the left of screen
    Catalogue and paint colors on the right
    PRIDE logo and realtor logo’s side by side
    Distribution Channel: Direct distribution between Realtors and PRIDE
  • 10. Tactical Launch Decisions
    Launch Tactic: Promotion
    Sampling: Best places=conventions:
    Real Estate BarCamp (Boston, MA)
    Inman Real Estate Connect (New York, NY)
    Purpose of Sampling:
    Attract realtors
    Visual confirmation of product
    Sophistication and reliability established
    After 5 Years, branch out to other realtors & increase profitability:
    • Beta Test Sites: Stimulate “sampling” phase as a reference for other potential buyers
  • Tactical Launch Decisions
    Launch Tactic: Promotion (continued)
    Social Media: Facebook + Twitter to stimulate hype and awareness of product
    Mass advertising placement on realtor Facebook Pages
    “Like” feature along with videos being placed on realtor pages to help consumers understand product
    Set up competitions for best designed homes
    Share links on friend’s walls
    Mass following on realtor Twitter accounts
    Direct communication with consumers and realtors
    Understand what consumers demand
    Guide consumers and help set up their homes in a convenient manner
  • 11. Tactical Launch Decisions
    Launch Tactic: Promotion
    Search Engine Optimization
    When users search for us we want to be first
    Cost Calculated for such achievement
    Estimated Number of Pages with PRIDE in their name: 7,600,000
    Business with name PRIDE: 116,923
    Cost Estimate to be number 1: $11,135.35/month
  • 12. Test Marketing
    Test parameters:
    Location: Boston (local based and established networks)
    Median Income Level 2009: $59,979
    Median house or condo value in 2009: $375,700
    Median gross rent in 2009: $1,196
    Average age living in city is 24-55.
    Median is 32.5 years.
    Completed level of college degree: 60.9%
    Easy barriers to entry
    Duration 24-36 months
    Type of consumer: Mediocre spender who is educated and technological capable of adapting to product
  • 13. Assumptions for Pro Forma
    Assumption 1: Average Sales Price $627,000 (Trulia)
    Assumption 2: Realtors Sales are assisted 70% by internet listings (Baltimore City)
    Assumption 3: One agent sells on average 7 homes per year (Bureau of Labor Statistics)
    Assumption 4: Inflation at 5% per year (Inflation Rate)
    Assumption 5: Taken into account for predicted revenue that IKEA will pay a maximum of $5,000/month for catalog on website
    Assumption 6: 200 apartments per year per city
    Assumption 7: Expand by 1 city per year
  • 14. Pro Forma Plan
  • 15. Contingency Plan
  • 16. Questions
  • 17. Exhibit 1:Design Adjustments
  • 18. Exhibit 2: Distribution
    Distribution: Large Realtors
    (Hammond Residential,
    Pembroke Real Estate, Re/Max
    & Coldwell Banker*)
    Realtors gain competitive advantage
    Consumers would have better visibility
    Seamless integration with website-users would not have to visit a new URL
  • 19. Exhibit 3: Customer Research: Realtor Survey Results
  • 20. Exhibit 4: Customer Research: Realtor Survey Results
  • 21. Exhibit 5:Test City Market Research
    Boston, MA
  • 22. Exhibit 6: Boston Real Estate Market
    Total number of properties: 65,854
  • 23. Exhibit 7: Home Sales in Boston, MA
    Average Home Sales in Boston, MA
  • 24. Exhibit 8:Customer Survey Results
  • 25. Bibliography (MLA):
    "Boston, Massachusetts (MA) Profile: Population, Maps, Real Estate, Averages, Homes, Statistics, Relocation, Travel, Jobs, Hospitals, Schools, Crime, Moving, Houses, News, Sex Offenders." Stats about All US Cities - Real Estate, Relocation Info, House Prices, Home Value Estimator, Recent Sales, Cost of Living, Crime, Race, Income, Photos, Education, Maps, Weather, Houses, Schools, Neighborhoods, & More. Web. 19 Apr. 2011. <>.
    "Boston Real Estate." Real Estate MarketConditions. Web. 19 Apr. 2011. <>.
    "Boston Average & Median Listing Prices -" Trulia - Real Estate, Homes for Sale, Sold Properties, Apartments for Rent. Web. 19 Apr. 2011. <>.
    Flat Fee MLS Listing, For Sale By Owner - FSBO, Home Buyer Rebate. Web. 19 Apr. 2011. <>.
    Baltimore City Real Estate - Free Online Guide to Buying Selling Renting Houses, Condos, Homes, Apartments, Commercial,& Investment Property in Charm City, Maryl&.Web. 19 Apr. 2011. <>.
    "Average Home Sales Prices in All Regions of the United States." Real Estate ABC - Information on Buying & Selling A Home. Web. 19 Apr. 2011. <>.
    "Real Estate Brokers & Sales Agents." U.S. Bureau of Labor Statistics. Web. 19 Apr. 2011. <>.