The Five Accommodation Options

3172 Words13 Pages
Executive Summary The purpose of this paper is to outline how differences in consumer psychology affect the marketing of real estate. For this purpose I have used the different theories of motivation, values, self and self-identity. Through the help of literature review on these theories, and through interviews of three different customers, I have tried to identify the link between a customer's psychology and his/her choice of residence. The three respondents are of varying backgrounds, ages and occupations and so are their choices in real estate. Each customer's ranking of the five options presented to them reflects a number of things about them. They show what drives customers towards making certain choices, how the backgrounds of each person and other demographic factors such as age, level of success in life, education, occupation and lifestyle affect their personalities which, in turn, affect the choices they make. I have also attempted to link the values certain customers have and how they influence preferences. Finally, after a complete analysis of our three respondents, I have given reasons for their choices and attempted to create certain customer profiles that marketers must spot, and the kind of products they could sell to these customers. Certain marketing tactics have also been included for different customer profiles. And in the end, I have given recommendations to marketers concerning what needs to be changed in the way they market products and the products
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