The MBA Project Presentation

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This presentation was a part of my MBA capstone project. The project was a comprehensive marketing plan for the M.J. Bowen Real Estate Development Program at Central Michigan University. The goal of the marketing plan was to assist the program in becoming a destination program for high school students.

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The MBA Project Presentation

  1. 1. The M.J. Bowen Real Estate Development Program: Marketing Plan Joseph J. Giarmo III Central Michigan University
  2. 2. Agenda Situation SWOT LCVP Marketing Future Recommendations Analysis Analysis Analysis Strategy Implications
  3. 3. Execution of the Marketing Plan Project Situation Analysis Executive Summary SWOT/LCVP Future Implications Marketing Strategy Recommendations
  4. 4. Situation Analysis: Industry Overview • In the U.S. alone, approximately 50% of all business investments involve real estate development • International investment in the U.S. is projected to increase by 16% from $230 billion in 2009 • The top four cities in terms of global real estate investment include New York City, London, Washington D.C., and Paris • In the U.S., the top five cities for investment include New York City, Washington D.C., Los Angeles, Seattle and San Francisco
  5. 5. Situation Analysis: Industry Overview • Worldwide, many trends are affecting the real estate development industry – In Europe, demand for office and retail space has increased – In the Middle East, places like Abu Dhabi and Dubai have seen unprecedented property development and expansion – Emerging economies such as Brazil and Argentina have witnessed increases in property demand – In Japan, a strong economy and low inflation rates have attracted international investors • “Going green” and corporate social responsibility trends
  6. 6. Situation Analysis: Competitor Analysis University of Wisconsin- Madison Ohio State DePaul University University Central Market Indiana Michigan University Share University
  7. 7. Situation Analysis: Competitor Promotion
  8. 8. Situation Analysis: Customer Analysis • This analysis is based on a survey administered to students in the FIN 335 Real Estate Principles and Process course • The survey was structured to obtain the following information – Demographic data – Motives for taking the course and/or pursuing the Real Estate Development major – Career opportunities students plan on pursuing – Student perception of the program – Characteristics of the program students feel are the most marketable – Communication vehicles students feel are the best way to reach potential students • Please refer to Appendix E on page 75 to view the actual survey
  9. 9. Situation Analysis: Customer Analysis • In all, 26 students were surveyed, though not every student responded to every question • It is also worth noting that some questions merited more than one response, so in terms of „No. of students responded‟ the results were somewhat different for each question. • Please refer to page 37 in the report for a visual representation of the survey results
  10. 10. Student Stated Strengths and Weaknesses Strengths Weaknesses Networking opportunities Newness of the program Curriculum Unknown major Internship opportunities Limited classes Faculty Few faculty and limited advising available Unique in MI Economy Opportunity for the program to grow Housing market Speaker series Number of networking opportunities available Real Estate Club and extra-curricular Public perception activities Student trips Career opportunities available post- graduation
  11. 11. SWOT/LCVP Analysis Opportunity Threat Vulnerability Leverage Strength Constraint Problem Weakness
  12. 12. SWOT Analysis: Strengths Central Michigan University • Central location • Reputation The College of Business Administration • Business Residential College • CBA Day & Summer Programs The M.J. Bowen Real Estate Development Program • Unique in its specialization • Only program of its kind offered in Michigan • Ease of double majoring
  13. 13. SWOT Analysis: Weaknesses The program is in its „infancy‟ No formal alumni base and limited professional connections Lack of a reputation Public perception and uneducated consumers Weaknesses specific to the program
  14. 14. SWOT Analysis: Opportunities Craft a strong marketing message Build a firm reputation Establish a formal network of alumni Connect with professional real estate communities Expand the program & increase its presence on campus
  15. 15. SWOT Analysis: Threats Competition „Copy cat‟ programs Misconceptions about the real estate industry
  16. 16. LCVP Analysis • Strong marketing mix • Destination program Leverage • Ability to provide a „full circle‟ educational experience • Lack of substance • Lack of resources Constraint • Public perception • Market share • Competition Vulnerability • Perception • Competing for market share • Uneducated consumers Problem • Lack of consumer awareness & promotion
  17. 17. Marketing Strategy Promotion Product Price Place
  18. 18. Recommendations: 1 year action plan • Make better use of online media – Improve the Real Estate Development Program website – Utilize Facebook to promote the Real Estate Development Program – Send informational emails to prospective students
  19. 19. Recommendations: 1 year action plan • Utilize direct mailings – Send an informational letter to high school seniors – Send informational packets to Michigan high schools • Conduct on-campus Marketing
  20. 20. Recommendations: 1 year action plan • Improve the M.J. Bowen Real Estate Development Program conference – Improve the conference itinerary – Improve marketing, public relations and promotion for the conference
  21. 21. Future Implications: 2-5 year Recommendations • Develop an M.J. Bowen Real Estate Development Program scholarship to be competed for by high school seniors. • Hire more faculties dedicated to the M.J. Bowen Real Estate Development Program. • Expand the program‟s elective course offerings to include classes in architecture, construction management, and design. • Offer the M.J. Bowen Real Estate Development Program online and at CMU off-campus locations, specifically Grand Rapids, Lansing, Southfield and Troy.
  22. 22. Future Implications: 2-5 year Recommendations • Develop a conference planning committee, and expand the M.J. Bowen Real Estate Development Program conference to the entire weekend (Friday-Sunday). • Establish a formal alumni network. • Lobby Central Michigan University and the College of Business Administration for resources that will be needed to build and expand the M.J. Bowen Real Estate Development Program into a true destination program.
  23. 23. Questions?

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