| Title |
Strategies for Higher Marketabilityof the Townhouse in the Metropolitan Area of Seoul |
| Authors |
Park Kyoung-Ok ; Lee Sang-Un ; Cho Hyun-Ju |
| Keywords |
Townhouse ; Marketing Mix ; Product ; Price ; Place ; Promotion ; Marketability |
| Abstract |
This study has a purpose of suggesting marketing strategies leading to the successful sales of the town houses which witness a boom recently as a new type of residence. Nineteen town house complexes, presented in the market in 2004 to 2007, are the object of this study, and their physical characteristics along with supply conditions were studied from the viewpoint of the marketing mix of 'product', 'price', 'place' and 'promotion'. The questionnaire was accompanied with the study, asking demand side of customers. It has comprised fifty persons of middle and upper class with more than 5 million wons of monthly income. Following is what we suggest as marketing strategies. (1) Product: The residence for undisturbed life is preferred, so that detached type or maisonette(duplex) type residences have to be supplied. The parking space for at least three vehicles has to be allotted to each house. The space for common use and service system for life has to be emphasized. The unit size of house has to be large enough with 60 to 70 pyeongs. The interior is recommended to have cozy, natural and elegant image, and eco-friendly facilities are preferred more. (2) Price: The sales price per 3.3㎡ should be lower than 14 million wons. (3) Place: The considerations for the location of town houses have to be surrounding nature, conveniences and traffic. (4) Promotion : The way of selling town houses has to be the 'open market' type. Big constructors have chances to establish their own private brands, whereas smaller constructors have to try to enhance consumers' recognition by means of inviting well-known architects to their projects. |