RE3103 Real Estate Development
9. Marketing Strategy The marketing strategy will comprise the following tactics: Market Positioning, Price, Promotion and Place, and Prospects. More details will be discussed below.
Market Positioning Price Promotion and Place Prospects
• Age Restriction Ratio
• Price Differential Premium • Traditional Media • Digital Media • Market Segmentation • Focus Group Discussions
9.1 Product 9.1.1 Market Positioning The development is fully geared towards catering to the needs and best interests of the elderly. As a premium retirement resort, the development will ensure that the retiree’s needs are fully addressed through the physical design of the space, combined with nature, sense of community, smart living, assistance and privacy. The plethora of amenities and facilities would ensure that the development is unlike other regular condominiums as the development is specially designed and planned to ensure residents receive a gold-standard of living during their retirement. With the development being located in a prime residential estate, the amenities in the area is second to none. The Singapore Island Country Club north of the development would cater to golf-loving residents, and provides a place for a getaway. The Singapore Botanic Gardens also provides a place for residents to immerse in nature, alongside the nature in-built into the development. 9.1.2 Age Restriction Ratio To ensure that the property is fully sold, a 60:40 age restriction ratio will be implemented. This ensures that 157 units out of 394 units are opened up to interested buyers other than the target group. (Refer to table 18) The age restrictions will be imposed on the occupiers of the housing unit rather than the owner of the apartment. This creates greater flexibility for purchasers and agents marketing the property. In the event where children are interested to make purchase of the subject property for their aged parents as a retirement gift, they may do so by listing themselves as sole or even joint owners of the property while naming their aged parents as occupiers of the subject unit. 35