Download - The MBA Project Presentation
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The M.J. Bowen Real Estate Development Program: Marketing Plan
Joseph J. Giarmo III
Central Michigan University
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Agenda
SWOT Analysis
LCVP Analysis
Marketing Strategy
Recommendations
Future Implicatio
ns
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Execution of the Marketing Plan Project
Situation Analysis
SWOT/LCVP
Marketing Strategy
Recommendations
Future Implications
Executive Summary
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Situation Analysis: Industry Overview
• In the U.S. alone, approximately 50% of all business investments involve real estate development
• International investment in the U.S. is projected to increase by 16% from $230 billion in 2009
• The top four cities in terms of global real estate investment include New York City, London, Washington D.C., and Paris
• In the U.S., the top five cities for investment include New York City, Washington D.C., Los Angeles, Seattle and San Francisco
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Situation Analysis: Industry Overview
• Worldwide, many trends are affecting the real estate development industry– In Europe, demand for office and retail space has increased– In the Middle East, places like Abu Dhabi and Dubai have seen
unprecedented property development and expansion– Emerging economies such as Brazil and Argentina have
witnessed increases in property demand – In Japan, a strong economy and low inflation rates have attracted
international investors
• “Going green” and corporate social responsibility trends
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Situation Analysis: Competitor Analysis
Market Share
Central Michigan University
Ohio State University
University of Wisconsin-
MadisonDePaul University
Indiana University
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Situation Analysis: Competitor Promotion
Core Concepts of Marketing
Internal Marketing
Branding
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Situation Analysis: Customer Analysis
• This analysis is based on a survey administered to students in the FIN 335 Real Estate Principles and Process course
• The survey was structured to obtain the following information– Demographic data– Motives for taking the course and/or pursuing the Real Estate
Development major– Career opportunities students plan on pursuing– Student perception of the program– Characteristics of the program students feel are the most marketable– Communication vehicles students feel are the best way to reach potential
students
• Please refer to Appendix E on page 75 to view the actual survey
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Situation Analysis: Customer Analysis
• In all, 26 students were surveyed, though not every student responded to every question
• It is also worth noting that some questions merited more than one response, so in terms of ‘No. of students responded’ the results were somewhat different for each question.
• Please refer to page 37 in the report for a visual representation of the survey results
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Student Stated Strengths and Weaknesses
Strengths Weaknesses
Networking opportunities Newness of the program
Curriculum Unknown major
Internship opportunities Limited classes
Faculty Few faculty and limited advising available
Unique in MI Economy
Opportunity for the program to grow Housing market
Speaker series Number of networking opportunities available
Real Estate Club and extra-curricular activities
Public perception
Student trips
Career opportunities available post-graduation
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SWOT/LCVP Analysis
Vulnerability
Constraint ProblemWeakness
Strength
Opportunity Threat
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SWOT Analysis: Strengths
Central Michigan University•Central location•Reputation
The College of Business Administration•Business Residential College•CBA Day & Summer Programs
The M.J. Bowen Real Estate Development Program•Unique in its specialization•Only program of its kind offered in Michigan•Ease of double majoring
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SWOT Analysis: Weaknesses
The program is in its ‘infancy’
No formal alumni base and limited professional connections
Lack of a reputation
Public perception and uneducated consumers
Weaknesses specific to the program
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SWOT Analysis: Opportunities
Craft a strong marketing message
Build a firm reputation
Establish a formal network of alumni
Connect with professional real estate communities
Expand the program & increase its presence on campus
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SWOT Analysis: Threats
Competition
‘Copy cat’ programs
Misconceptions about the real estate industry
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LCVP Analysis
• Strong marketing mix• Destination program• Ability to provide a ‘full circle’ educational experience Leverage• Lack of substance• Lack of resources• Public perceptionConstraint• Market share• Competition• PerceptionVulnerability
• Competing for market share• Uneducated consumers• Lack of consumer awareness & promotionProblem
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Marketing Strategy
Promotion
Price
Product
Place
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Recommendations: 1 year action plan
• Make better use of online media– Improve the Real Estate Development Program
website– Utilize Facebook to promote the Real Estate
Development Program– Send informational emails to prospective students
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Recommendations: 1 year action plan
• Utilize direct mailings– Send an informational letter to high school seniors– Send informational packets to Michigan high
schools
• Conduct on-campus Marketing
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Recommendations: 1 year action plan
• Improve the M.J. Bowen Real Estate Development Program conference– Improve the conference itinerary– Improve marketing, public relations and promotion
for the conference
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Future Implications: 2-5 year Recommendations
• Develop an M.J. Bowen Real Estate Development Program scholarship to be competed for by high school seniors.
• Hire more faculties dedicated to the M.J. Bowen Real Estate Development Program.
• Expand the program’s elective course offerings to include classes in architecture, construction management, and design.
• Offer the M.J. Bowen Real Estate Development Program online and at CMU off-campus locations, specifically Grand Rapids, Lansing, Southfield and Troy.
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Future Implications: 2-5 year Recommendations
• Develop a conference planning committee, and expand the M.J. Bowen Real Estate Development Program conference to the entire weekend (Friday-Sunday).
• Establish a formal alumni network.
• Lobby Central Michigan University and the College of Business Administration for resources that will be needed to build and expand the M.J. Bowen Real Estate Development Program into a true destination program.
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Questions?