SMB Project_Group 11_Village Partners

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California State University, Fullerton *

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351

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Marketing

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Apr 3, 2024

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pdf

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1 SMB GROUP PROJECT GROUP 11 Katherine Chan Connor Doornbos Seth Goff Nghi Huynh Alexander Lomeli Santiago Vasquez MARKETING 351-01 February 26, 2024
MKTG-01 Group 11 2 Initial Research Village Partners, as described on their website, is a “full-service real estate development company focused on the development of distinctive in-fill mixed-use projects.” Their projects often include residential, retail, and office space aspects. As a business, one of their main marketing points seems to be their walkable, transit-oriented development, which coincides with a growing demand for sustainability among consumers. The company’s own social media is quite barren, including only a LinkedIn profile and an Instagram page with just 3 posts, a couple comments, and links to the Instagram handles of a couple of the business’ current projects. About 400 online comments can be found on the two linked development projects, the Claremont South Village and the State Street Village in Redlands. Positive comments often express excitement over the new designs, especially for their walkability and vibrant modern design, but the negative comments bring up interesting points. The most common complaints are that people are sad to see the old buildings be destroyed to make room for the new development projects; they often say that they will miss the atmosphere or small town feeling of the old areas. Other negative comments express a dislike for the designs of the development plans, saying that they are overly modernized or overly urbanized. Still, the majority of comments remain positive and many express a desire to become tenants. According to an IBISWorld article by Jonathan Burns, the real estate industry is in a difficult position. Rent prices are increasing due to rising interest rates, while wage growth remains largely stagnant, making it difficult for many individuals and businesses to afford renting or buying apartments, houses, or business locations. Moreover, competition can be high in any real estate related field; California has the largest population of any state sitting at 39.54 million people, which is excellent for this market, but it also holds the highest share of real estate related businesses in the U.S, with 14.1% of all businesses related businesses. Overall, Village Partners likely needs a more extensive online and social media presence in order to keep up with the competitive market surrounding it. Located in Southern California, the business is in a prime location full of customers and opportunities for growth. Public reception of the business’ work is largely positive, so increased exposure could benefit Village Partners greatly. Their walkable sustainable designs could further be leveraged in marketing as an edge over competition.
MKTG-01 Group 11 3 Questions for Village Partners (www.villagepartners.com) 1. What are some key challenges that your company faces from a marketing standpoint? 2. What are your main sources of publicity? 3. What is your overall vision for the company? 4. Who is your main competition and what aspects from their marketing strategies do you wish to adopt? 5. How is this company unique from its competition 6. Who is your target audience? 7. What are your current website analytics? 8. What is your goal for your website? 9. What is your annual marketing budget? 10. How have your marketing strategies changed over the past 5-10 years?
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