marketing research for decorative interiors

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Decorative Interiors by Mary Ellen Joseph Axtell Neal Chastain Jeremy Lowe Amy Minch Morgan Thomas

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Post on 19-Jan-2015

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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.

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  • 1. Home staging is the act of preparing aprivate residence for sale in the realestate marketplace. Decorative Interiors by Mary Ellenprovides a full range of services that canbe useful in building a new home,preparing and existing home for sale orrent, or remodeling your current home.

2. Secondary Research Qualitative Research Interviews 8 Realtors 4 Home Buyers 2 Home Sellers Sampling Data Analysis 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. Respondent CategoriesHome Sellers 1% Renters 13%Home Buyer 3% Realtors 4% Home Owners79%Home OwnersHome Sellers Realtors Rentors Home Buyer 5. Gender Unknown 7%Male27%Female66%Male Female Unknown 6. Age Unknown 11%20-3465 + 25%5%35-49 12%50-64 47% 20-34 35-49 50-64 65 + Unknown 7. Home Value27% 43% 4%7%19%$0 - 299,000 $300,000 - 599,000 $600,000 - 899,000 $900,000 +Unknown 8. What service are people most likely topay for? 9. MeanConsult to Build3.04Stage to Sell 3.97Remodel Coaching4.41Interior Decorating 4.75Stage to Live 5.01Scale: 1 = Extremely Likely 2 = Likely 3 = Somewhat Likely 4 = Neutral 5 = Somewhat Unlikely 6 = Likely 7 = Extremely Unlikely 10. Extremely Likely Likely Somewhat Likely29%21%22%22%19% 17% 15% 15% 14% 7% 7% 5%4% 3%2% Consult to Stage to Sell Remodel InteriorStage to Live BuildCoaching Decorating 11. What service are people most likely topay 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. What characteristics are most importantto potential clients? 13. Previous experience, what they have done, andwhat it looks like Female, 45, Sarasota Home Seller MeanTaste 1.42Price 1.59Recommendations 1.90Experience1.93References1.99Certification 2.66 14. Extremely Important ImportantSomewhat Important66% 52%47%41% 41%37%36% 35%32% 31%26%22% 22%14%17% 7% 10%4% Taste PriceRecs. Experience References Certs. 15. What service are people most likely topay for? What characteristics are most importantto potential clients?3. How would potential clients search for Mary Ellen?4. What are important factors when purchasing a home? 16. How would potential clients search forMary Ellen? 17. MeanGoogle 2.61Recommendations Other2.63Home Decorating Website2.92Realtor Recommendation 3.13Other Internet Search Engine 3.49Real estate Websites 3.96Phonebook4.75 18. Extremely LikelyLikely Somewhat Likely38%38%31%27%28%25% 24% 24% 20%16%20% 19% 17% 13%14%12%11%9% 8%7% 3%Google OtherHomeRealtorOtherReal Phone Recs. Decorat. Recs. Internet Estate Website 19. What service are people most likely topay for? What characteristics are most importantto potential clients? How would potential clients search forMary Ellen?4. What are important factors when purchasing a home? 20. What are important factors whenpurchasing a home? 21. MeanLocation1.29Price 1.36Condition 1.56Architectural Structure 1.85Square Footage2.23Amenities 2.29The way the home is currently 3.73decorated (staged) 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 StructureSquareAmenities The way aFootagehome is currentlydecorated 23. MeanThe way a home is decorated is 1.70important to me.When looking at a home, I prefer it3.52to be unfurnished.When looking at a home, I prefer it3.94to be furnished. We wanted to take a closer look at the difference between thetwo sample means for unfurnished and furnished homes. (T-test) There was a significance level of .000 between the two variables. 24. Strongly Agree AgreeSomewhat 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. MeanExterior1.57Living Room 1.63Landscaping 1.67Entryway1.86 26. Extremely ImportantImportant Somewhat Important49%50% 48%44%45% 45%41% 35% 12%6% 8%5%ExteriorLiving RoomLandscaping Entryway 27. People are most likely to pay for theConsult to Build service. The characteristic that is of mostimportance to the consumer is the tasteof the home stager. 28. Potential clients are likely to use Googleas the primary search method for findinga home stager. Realtors view home staging as beinghighly important. Consumers view it asbeing important in their currenthomes, but not necessarily whenpurchasing a new home. 29. Objective 1: What service are peoplemost likely to pay for? Recommendations: Focus more on the Consult to Build service within your home staging business. 30. Objective 2: What characteristics aremost important to potential clients? Recommendation: Advertise your taste to the consumer. Provide a photo gallery on the website Utilize a portfolio to show clients duringconsultations 31. Objective 3: How would potential clientssearch for Mary Ellen? Recommendation: Make all services offered available in the topsearch engine utilized by consumers(Google). Get Decorative Interiors by Mary Ellen onGoogle places. 32. Objective 4: What are important factorswhen 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.