Short answer
Design and market housing projects holistically, ensuring that product features, pricing strategies, distribution channels, and promotional campaigns are well-aligned and mutually reinforcing to drive purchase decisions.
- Field
- Innovation & Markets
- Source
- KnE Social Sciences (2020)
- Method
- Quantitative survey research using explanatory and relational analysis.
- Sample
- Prospective Consumers of Grand Cempaka Housing (specific number not stated in abstract).
- Evidence
- Strong effect
A comprehensive application of the marketing mix (product, price, place, and promotion) significantly influences consumer decisions in the housing market. This innovation & markets research insight is drawn from a 2020 study published in KnE Social Sciences. Using Quantitative survey research using explanatory and relational analysis. with Prospective Consumers of Grand Cempaka Housing (specific number not stated in abstract)., researchers explored how this design variable affects real-world outcomes. The key design takeaway: Design and market housing projects holistically, ensuring that product features, pricing strategies, distribution channels, and promotional campaigns are well-aligned and mutually reinforcing to drive purchase decisions.
Integrated Marketing Mix Drives Housing Purchase Decisions
A comprehensive application of the marketing mix (product, price, place, and promotion) significantly influences consumer decisions in the housing market.
KnE Social Sciences · 2020
Key Findings
- 01The marketing mix elements (Product, Price, Place, and Promotion) collectively have a significant impact on housing purchase decisions.
- 02Each element of the marketing mix (Product, Price, Place, and Promotion) individually exerts a significant influence on housing purchase decisions.
Application
Design takeaway
Design and market housing projects holistically, ensuring that product features, pricing strategies, distribution channels, and promotional campaigns are well-aligned and mutually reinforcing to drive purchase decisions.
How to apply
When developing a new housing project, conduct thorough market research to understand consumer preferences for product features, price sensitivity, preferred locations, and effective promotional channels. Then, integrate these findings into a unified marketing strategy.
Project actions
- 01When researching a product, consider how its features, cost, availability, and marketing all influence user choice.
- 02Think about how different aspects of a product's 'package' work together to create a desirable offering.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Employs quantitative methods for objective analysis.
- +Investigates both simultaneous and partial effects of marketing mix variables.
Limitations
The findings might be specific to the housing market and may not directly apply to all product categories. The study's focus on a single housing development limits its universal applicability.
Reliability & validity
The use of multiple linear regression analysis provides a statistical basis for assessing the relationships between variables. However, the validity of the findings depends on the representativeness of the sample and the accuracy of the data collected.
Think critically
To what extent can the principles of the marketing mix, as applied to housing, be adapted to other complex consumer goods or services, and what modifications would be necessary?
Design Principles
"The success of a product launch, particularly in complex markets like real estate, is contingent upon the synergistic effect of a well-executed marketing mix."
Understanding the interplay of these marketing elements is crucial for property developers to effectively position their offerings and attract potential buyers. This insight helps in crafting targeted strategies that resonate with consumer needs and preferences.
What This Means for Your Design
For any new product, especially houses, how you present it (product), how much it costs (price), where you sell it (place), and how you tell people about it (promotion) all work together to make someone decide to buy it.
How to use in your project
- 1.Use this research to justify the importance of considering the marketing mix when analyzing the success or failure of a product design.
- 2.Reference this study when discussing how product, price, place, and promotion are interconnected in influencing consumer behaviour for your design project.
Add to My Project
Quick Cite
Paragraph starter
The marketing mix, encompassing product, price, place, and promotion, is a critical determinant of consumer purchasing decisions, as evidenced by research in the housing sector. A comprehensive and integrated approach to these elements is essential for successful market penetration and consumer adoption, highlighting the interconnectedness of design, strategy, and market response.
Source
KnE Social Sciences
The Influence of the Application of Marketing Mix on the Purchase Decision of Prospective Consumers of Grand Cempaka Housing
journal · 2020
View sourceQuestions About This Research
- What does the research say about integrated marketing mix drives housing purchase decisions?
- Design and market housing projects holistically, ensuring that product features, pricing strategies, distribution channels, and promotional campaigns are well-aligned and mutually reinforcing to drive purchase decisions. Evidence: KnE Social Sciences (2020).
- Why does "Integrated Marketing Mix Drives Housing Purchase Decisions" matter for design?
- Understanding the interplay of these marketing elements is crucial for property developers to effectively position their offerings and attract potential buyers. This insight helps in crafting targeted strategies that resonate with consumer needs and preferences.
- How can designers apply this research?
- Design and market housing projects holistically, ensuring that product features, pricing strategies, distribution channels, and promotional campaigns are well-aligned and mutually reinforcing to drive purchase decisions.
- What were the main findings?
- The marketing mix elements (Product, Price, Place, and Promotion) collectively have a significant impact on housing purchase decisions.. Each element of the marketing mix (Product, Price, Place, and Promotion) individually exerts a significant influence on housing purchase decisions.
- What research method was used?
- Quantitative survey research using explanatory and relational analysis. with Prospective Consumers of Grand Cempaka Housing (specific number not stated in abstract)..
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2020 journal from KnE Social Sciences.
- What should I do differently in my next project?
- When developing a new housing project, conduct thorough market research to understand consumer preferences for product features, price sensitivity, preferred locations, and effective promotional channels. Then, integrate these findings into a unified marketing strategy.
- What are the limitations?
- The study focuses on a specific housing project (Grand Cempaka Housing) and a particular consumer group (prospective consumers in Pasuruan City), which may limit generalizability to other markets or property types.