Secondary Data Analysis Assignment. Research Paper (Research Paper Sample)
You are the owner of a marketing research company. One of your clients is a real estate developer who is planning to build a new apartment/condo complex in Virginia. Specifically, your client wants to build a complex that attracts pet owners. The client would like to build this complex in an area that (a) has a high number of people with pets, and (b) is in need of a complex like this.
Your client would like you to identify the area and some of the amenities this complex should have. For instance, should it be a rental complex or a condo complex? What is the demographic and psychographic profile of the target market? The client has a list of questions below and would like you to find the answers to them.
Use the databases discussed in class (and other trustworthy resources) to find information that might help the client.
1. What is the demographic and psychographic profile of a potential target market?
2. What is the best location for this complex? (Where in Virginia? Near a certain landmark, such as a park? etc).
3. Should it be a rental complex or a condo complex?
4. Should it be a high-end complex or something more economical?
5. What are some amenities the target market would prefer?
For each question:
(a) find 2-3 sources (a report, census data, a website etc), briefly outline what each source found and how it relates to the question, and
(b) outline a recommendation based on your search results.
Note: If you find a report that answers several of these questions, you are allowed to use that report for each of the questions it addresses.
Make sure you list your references! (APA style)
Secondary Data Analysis Assignment
Secondary Data Analysis
Brambleton in Virginia is a potential target market for realtors looking to build a condo complex that would guarantee them good income and attract full occupancy. Virginia is one of the wealthiest states in the United States. According to the U.S. Census Bureau (2020), most residents have good jobs that earn them a mean annual salary of $90,000. The price of a home in the city is at least $700,000. Basing on this information, developers seeking to start a real estate business in Virginia are likely to succeed because of the high average household income.
Demographics and Psychographic Profile
According to U.S. Census Bureau Quick Facts (2020), Brambleton had a population of 19,876 people and the median age was 34.3 in 2017.
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