Marketing Research for Decorative Interiors

152 views
126 views

Published on

My Marketing Research Professor, at the University of South Florida, made us work closely with a local business to perform marketing research. This project was so beneficial because it allowed us to work on a real life project rather than just from the textbook. I learned so much in this class and I intend to apply it to my career.

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
152
On SlideShare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Marketing Research for Decorative Interiors

  1. 1.  Home staging is the act of preparing a private residence for sale in the real estate marketplace. Decorative Interiors by Mary Ellen provides a full range of services that can be useful in building a new home, preparing and existing home for sale or rent, or remodeling your current home.
  2. 2.  Secondary Research Qualitative Research › Interviews  8 Realtors  4 Home Buyers  2 Home Sellers Sampling Data Analysis
  3. 3. 1. What service are people most likely to pay for?2. How would potential clients search for Mary Ellen?3. What characteristics are most important to potential clients?4. What are important factors when purchasing a home?
  4. 4. Respondent CategoriesHome Sellers 1% Renters 13% Home Buyer 3% Realtors 4% Home Owners 79% Home Owners Home Sellers Realtors Rentors Home Buyer
  5. 5. Gender Unknown 7% Male 27%Female 66% Male Female Unknown
  6. 6. Age Unknown 11% 20-34 65 + 25% 5% 35-49 12%50-64 47% 20-34 35-49 50-64 65 + Unknown
  7. 7. Home Value 27% 43% 4% 7% 19%$0 - 299,000 $300,000 - 599,000 $600,000 - 899,000 $900,000 + Unknown
  8. 8.  What service are people most likely to pay for?
  9. 9. Mean Consult to Build 3.04 Stage to Sell 3.97 Remodel Coaching 4.41 Interior Decorating 4.75 Stage to Live 5.01Scale:• 1 = Extremely Likely• 2 = Likely• 3 = Somewhat Likely• 4 = Neutral• 5 = Somewhat Unlikely• 6 = Likely• 7 = Extremely Unlikely
  10. 10. Extremely Likely Likely Somewhat Likely 29%21% 22% 22% 19% 17% 15% 15% 14% 7% 7% 5% 4% 3% 2% Consult to Stage to Sell Remodel Interior Stage to Live Build Coaching Decorating
  11. 11.  What service are people most likely to pay for?2. What characteristics are most important to potential clients?3. How would potential clients search for Mary Ellen?4. What are important factors when purchasing a home?
  12. 12.  What characteristics are most important to potential clients?
  13. 13. “Previous experience, what they have done, andwhat it looks like” – Female, 45, Sarasota Home Seller Mean Taste 1.42 Price 1.59 Recommendations 1.90 Experience 1.93 References 1.99 Certification 2.66
  14. 14. Extremely Important Important Somewhat Important66% 52% 47% 41% 41% 37% 36% 35% 32% 31% 26% 22% 22% 14% 17% 7% 10% 4% Taste Price Recs. Experience References Certs.
  15. 15.  What service are people most likely to pay for? What characteristics are most important to potential clients?3. How would potential clients search for Mary Ellen?4. What are important factors when purchasing a home?
  16. 16.  How would potential clients search for Mary Ellen?
  17. 17. MeanGoogle 2.61Recommendations Other 2.63Home Decorating Website 2.92Realtor Recommendation 3.13Other Internet Search Engine 3.49Real estate Websites 3.96Phonebook 4.75
  18. 18. Extremely Likely Likely Somewhat Likely38% 38% 31% 27% 28% 25% 24% 24% 20% 16% 20% 19% 17% 13% 14% 12% 11% 9% 8% 7% 3%Google Other Home Realtor Other Real Phone Recs. Decorat. Recs. Internet Estate Website
  19. 19.  What service are people most likely to pay for? What characteristics are most important to potential clients? How would potential clients search for Mary Ellen?4. What are important factors when purchasing a home?
  20. 20.  What are important factors when purchasing a home?
  21. 21. MeanLocation 1.29Price 1.36Condition 1.56Architectural Structure 1.85Square Footage 2.23Amenities 2.29The way the home is currently 3.73decorated (staged)
  22. 22. Extremely Important Important Somewhat Important73% 67% 59% 46% 40% 39% 40% 36% 31% 32% 25% 25% 21% 28% 23% 18% 17% 2% 6% 3% 1%Location Price Condition Structure Square Amenities The way a Footage home is currently decorated
  23. 23. MeanThe way a home is decorated is 1.70important to me.When looking at a home, I prefer it 3.52to be unfurnished.When looking at a home, I prefer it 3.94to be furnished. • We wanted to take a closer look at the difference between the two sample means for unfurnished and furnished homes. (T-test) • There was a significance level of .000 between the two variables.
  24. 24. Strongly Agree Agree Somewhat Agree 44% 43% 21% 20% 12% 14% 13% 9% 8%ay a home is decorated is important to me I prefer itlooking a a home, I prefer it to be furnis When looking at a home, When to be unfurnished
  25. 25. MeanExterior 1.57Living Room 1.63Landscaping 1.67Entryway 1.86
  26. 26. Extremely Important Important Somewhat Important49% 50% 48% 44% 45% 45% 41% 35% 12% 6% 8% 5% Exterior Living Room Landscaping Entryway
  27. 27.  People are most likely to pay for the Consult to Build service. The characteristic that is of most importance to the consumer is the taste of the home stager.
  28. 28.  Potential clients are likely to use Google as the primary search method for finding a home stager. Realtors view home staging as being highly important. Consumers view it as being important in their current homes, but not necessarily when purchasing a new home.
  29. 29.  Objective 1: What service are people most likely to pay for? Recommendations: › Focus more on the Consult to Build service within your home staging business.
  30. 30.  Objective 2: What characteristics are most important to potential clients? Recommendation: › Advertise your “taste” to the consumer.  Provide a photo gallery on the website  Utilize a portfolio to show clients during consultations
  31. 31.  Objective 3: How would potential clients search for Mary Ellen? Recommendation: › Make all services offered available in the top search engine utilized by consumers (Google). › Get Decorative Interiors by Mary Ellen on Google places.
  32. 32.  Objective 4: What are important factors when purchasing a home? Recommendation: › Try and get information out to the public about your business and what Decorative Interiors by Mary Ellen is all about.

×