Bus 642 Final Paper

Final Project

Izola Ammons

Ashford University

BUS642 Business Research Method and Tools

Professor Lisa Wallace

Aug. 19, 2013

Most people are aware of the recession issues, but many Americans should understand the actions being taken by previous homeowners in regards to the recession. Recent homeowners are downsizing and looking for rental apartment communities; this has caused an increase in the rental market and the growth of apartment building. Consumers are looking for apartment communities that will provide quality in the exterior and interior amenities, but also at an affordable price. Also rental markets are seeing an increase from businesses hiring out of state, which brings consumers into the area. The rental market has become competitive and there is a constant increase in pricing to stay competitive. Pricing is said to be the largest factor of determining what a consumer rents from compared to the quality and amenities offered. As a brand new apartment community, we are located in an uprising area, which has good location, and consumers thrive for new properties. It is important to set the basis for the community by establishing proper pricing to increase occupancy quickly and stay occupied, while increasing revenue, and marketing to the correct target areas that qualify for the community.

Marketing a new property is extremely important because it sets the foundation for the type of traffic or potential residents that will be interested in your apartment community. Marketing is easily mistaken for advertisement but they are two different components in business. Marketing is the systematic planning, that the businesses uses to implement and control a mix of business activities intended to increase the number of potential residents that will view the property (Cooper, 2011). The different parts of marketing can be but not limited to, market research, media planning, public relations, product pricing, sales strategy etc. The advertising is the...