Contents Situational Analysis 5 1.0 Macro Environment 5 1.1 Natural Forces 5 1.1.1 Natural Disasters 5 1.1.2 COVID-19 5 1.1.3 The Real Estate Market 6 1.2 Demographic Forces (LA & Ventura County) 6 1.2.1 Population 6 1.2.2 Housing Units 6 1.2.3 Income 7 1.3 Economic Forces 7 1.3.1 Workforce 7 1.3.2 Stimulus Checks 7 1.4 Technological Forces 7 1.4.1 New Apps 7 2.0 Microenvironment 2.1 Marketing Strategy 8 8 2.1.1Testimonials 8 2.1.2 Social Media 8 2.1.3 Referrals 8 2.2 Target Market 9 2.2.1 Segmentation 2.3 Target Market Analysis 2.3.1 Expanding Outreach to Investors 9 10 10 2.4 Barrier to Entry 11 2.5 Power of Buyers 11 2.6 Substitutes 12 2.7 Competitive Environment 12 2.7.1 Stocks 12 2.7.2 Banks 13 2.7.3 Wells Fargo Bank, National Association 14 1 2.7.4 Specific Compe tors 3.0 Company Analysis 14 15 3.1 History of the Company 15 3.2 Current Situation 16 4.0 SWOT Analysis 4.1 Strength 18 18 4.1.1 Location 18 4.1.2 Reputable 18 4.1.3 Revenue 18 4.2 Weaknesses 19 4.2.1 Marketing 19 4.2.2 Process Speed 19 4.2.3 Unforgiving Market 19 4.3.3 Short Term Investment 19 4.3.4 Star ng New 20 4.3 Opportunity 20 4.3.1 COVID-19 Affects Consumers Mindset 20 4.3.2 Millennials Investing Habits 20 4.4 Threats 21 4.4.1 Competition is High 21 4.4.2 Economic Risk 21 4.4.3 Barrier to Entry 21 Methods 22 5.0 Marketing Through Social Media 22 5.1 Utilizing Social Media 22 5.1.1 Community Building & Tutoring 22 5.1.2 Social Networking Platforms/Sites 23 5.2 Social Media Platforms 24 5.2.1 Instagram 24 5.2.2 Facebook 24 5.2.3 Twitter 25 5.2.4 Discord 25 5.2.5 LinkedIn 26 2 5.2.6 Google+ 5.3 Real Estate in Social Media 6.0 Integrated Marketing Communication 6.1 The Communication Process 6.1.1 Communication Goal 6.2 Community Group Platforms 26 27 29 29 29 29 6.2.1 TikTok 29 6.2.2 YouTube 30 6.2.3 Reddit 31 6.3 Audience Attention and Support 31 6.3.1 Starting a Series on Your Social Medias 31 6.3.2 Create a Slogan 32 6.3.3 Share Your Knowledge & Story 33 6.4 Target Audience on Social Media 33 6.4.1 Pre-Investors 33 6.4.2 Active Investors 34 7.0 Marketing Mix 7.1 Product 35 35 7.1.1 Pricing 35 7.1.2 Broadening the Market 35 7.2 Channels of Distribution 36 7.2.1 Social Media Distribution 36 7.2.2 Brochure/ Handouts: 36 8.0 Market-Product Focus & Goal Setting 37 8.1 Market-Product Grid and Growth Strategy 37 8.2 Value Proposition 38 8.2 Positioning Strategy 39 8.3 Set Market and Product Goals 39 Recommendations 40 9.0 Develop IMC Marketing 40 9.1 Interactive Marketing Through Social Media 40 9.1.1 Objectives 40 9.1.2 Behavioral Strategy 40 3 9.1.3 Integrating & Utilizing Social Media 41 9.2 Direct Marketing 41 9.2.1 Objectives 41 9.2.2 Integration 41 3.2.3 Consumer Data 42 9.3 Advertising 42 9.3.1 Objectives 42 9.3.2 Strategy 42 9.3.3 Message & Media selection 43 Social Media Advertising: 43 9.4 Sales Promotion 44 9.4.1 Objectives 44 9.4.2 Consumer Oriented Sales Promotion 44 9.4.3 Frequency 45 9.5 Publicity/Public Relations 45 9.5.1 Objectives 45 9.5.2 Key Message 45 9.5.3 Events 45 10.0 Utilize Social Media 46 10.1 The Community 46 10.1.1 Interaction 47 10.1.2 Discord 47 10.2 Content 48 10.2.1 Editing 49 10.2.2 Brochure 49 10.2.3 Interactive Content 49 10.3 Adaptability 50 10.3.1 Exposure 50 10.3.2 Sympathy 51 10.3.3 Go with the Hype 51 Timeline 52 4 Situational Analysis 1.0 Macro Environment The macro environment is the uncontrollable factors Top Choice Capital will have to take into consideration in order to establish their investment side of the business. The factors we chose to focus on are natural forces, demographic forces, economic forces, and technological forces. By understanding how to use these factors to their advantages Top Choice Capital will have a greater chance at increasing capital and expanding their outreach to possible investors. 1.1 Natural Forces This section will analyze the natural forces that may affect the success of Top Choice Capital. Resulting in them having to make certain changes on how the company chooses to operate in order to stay successful. 1.1.1 Natural Disasters With Top Choice Capital focusing solely on properties in LA and Ventura County there a couple natural disasters they should consider for. Such as earthquakes, mudslides, and brush fires. These are definitely out of their control no matter how much they prepare for it so it would be wise to consider these risk when acquiring new properties. Especially with the big earthquake that the professionals have been warning us about looming over all our heads. One of these unfortunate events can single handedly cause quarterly profits to dip and slow down the process of everything else in the company. 1.1.2 COVID-19 The pandemic has made a direct and indirect effect on Top Choice Capital. Bringing both advantages and disadvantages. The disadvantages range from raw material prices hiking up price to possible clients losing their jobs and financial stability due to being laid off. While the advantages are individuals realizing they need to upgrade their living quarters after essentially being locked in their current housing situation for a year. Giving Top Choice Capital something to worry about and be happy about in terms of business operations. 5 1.1.3 The Real Estate Market The market is constantly changing, and you can only prepare so much on what you think will happen in the upcoming years. Along with numerous individuals entering and leaving depending on the trend of the market it is very difficult to stay ahead of the game. Prices can fluctuate resulting in losses or profits in a short amount of time if you are unaware of what is happening. Business in this market is anything but constant. Understanding when the market is thriving is key to prepare for the down years which Sean believes is in the next 2-3 years. 1.2 Demographic Forces (LA & Ventura County) This section will analyze demographics of where Top Choice Capital plans on buying, selling, making additions, and investing in properties. Understanding who is living in these areas is key to maximizing profit and making their company stand out against the competition by understanding who they are working with on a deeper level. On top of that, possible investors will most likely be living in or around these areas. 1.2.1 Population The population in LA is about 5 million while in Ventura County it is about 850,000 which is a little bit more than four times less than LA (Census). Which makes the two areas very distinct. LA is a lot more dense than Ventura County which may attract individuals who are living on their own or don’t have a family yet. Versus Ventura County which is noticeably less packed which may be a more desired destination for individuals who have or are trying to start a family. 1.2.2 Housing Units The housing units in LA four times as much as Ventura County. With LA having 1.4 million and Ventura County having 291,00 (Census). With the majority of the households having an average of 2~3 persons per household and an upward trend in population sometimes being in a less crowded area maybe their desire (Census). Since LA is already so dense, Ventura County may have greater investment opportunities if its population keeps rising. 6 1.2.3 Income The $500,000 minimum to invest in Top Choice Capital may be intimidating for new investors to step their foot in the door. Only 34% of the households make $100,000+ in LA (Census). While the median household income in LA being $62,000 and $88,000 in Ventura County (Census). 1.3 Economic Forces With the pandemic the economic forces have definitely taken a change in direction. With a decrease in revenue a lot of places have had to cut down on number of employees which indirectly affected Top Choice Capital. 1.3.1 Workforce LA has about 66% of its population in the workforce and Ventura County has about 65% prior to Covid-19 (Census). Post Covid-19 numbers are undoubtably less which results in people trying to stabilize their income, more cautious with spending, and budgeting more than usual. 1.3.2 Stimulus Checks With stimulus checks in play some individuals have gotten a fair amount of cash that they are going to spend for paying bills, luxury, or invest in it. Despite it being nowhere near as much as the minimum payment Top Choice Capital is looking for, this can be the entry to investments playing around with money through thinks like stocks. Which may eventually lead to them finding Top Choice Capital’s investment funds. 1.4 Technological Forces Top Choice Capital isn’t the only thing people can invest in. Especially with how easy it has become to invest in stocks which has hardly any money requirement to get started versus the $500,000 minimum they are asking for. 1.4.1 New Apps In the digital age we live in you can trade stocks through various apps such as Robinhood through your phone, tablet, or computer. With at least 90% of households having a computer and around 80% having internet access almost anyone can do it in the LA and Ventura County area 7 (Census). With technology almost always getting more advanced the future of real estate may also be greatly affected. 2.0 Microenvironment Focuses specifically on the real estate market and what Top Choice Capital does. 2.1 Marketing Strategy 2.1.1Testimonials In Top Choice Capitals website (TopChoiceCapital.com) there are numerous videos explaining what they do and showcase agents they have worked with. Agents love how easy it is to work with the company since they keep their word and are straight to the point. Saving them from tough situations and assuring they will close the deal when they say so. Agents who have worked with them plan to comeback for more deals. Creating a solid reputation in the community and more importantly increasing their brand recognition. Which will ultimately help all of the divisions in the company, especially the new and upcoming investment division of the business. What better way to gain trust than hearing from professionals who have worked hands on with the team? Assuring they are knowledgeable and trustworthy with what they are doing. 2.1.2 Social Media Currently Top Choice Capital uses Facebook and Instagram to reach out to possible agents and brokers. For the most part those videos are one dimensional and have no real variety. The message is the same for all videos. The only thing that changes is the background or setting. Expanding their creativity in the videos is going to be key in order to convince future investors to choose them over everyone else. Using the same script is not going to cut it. 2.1.3 Referrals Top choice capital has been rather spoiled with how they have acquired majority of their deals coming from recommendations from previous agents. They would like to further expand their outreach to get even more agents, brokers, and investors coming through their doors. Not solely relying on referrals to gain more capital. 8 Up until this 2020 Top Choice Capital hasn’t focused on marketing since they were doing fine without it. Now that they would like to increase their profits and capital they have been working to step up their marketing in order to accumulate more deals per year. 2.2 Target Market Analyzes who, how and why Top Choice Capital should be targeting for their investment side of the business. 2.2.1 Segmentation The segmentation of the real estate business needs to be focused on the proper selection of investors. There are three main criteria that companies can use to identify their market segmentation. These include reaction, homogeneity, and distinction (Tarver, 2019). Reaction describes a similar response the business is likely to face in the market, homogeneity describes the common needs in the segment, and distinction describes the uniqueness of the company in the market (Tarver, 2019). The company needs to ensure that it selects its segmentation based on these features. All the three divisions of the company, components focusing on acquisition, construction, and lending; wholesaling; and agents and brokers, need to conform to the essential characteristics of segmentation. The investors selected should conform with the requirements of residential real estate, which is the main focus of the company. The residential real estate focuses on both buying and selling properties that are used for either professional or home purposes (Depersio, 2017). This will be the first requirement of the target investors. The company can also make its segmentation effective by looking for investors who are within the Los Angeles and Ventura counties, which are the operation areas of the company. Indeed, segmentation can be done along with geographical locations (Depersio, 2017). Demographics such as gender, age, family size, life cycle, and income can also be used for segmentation (Depersio, 2017). Thus, the company can focus on these demographics to identify the investors. Psychological considerations such as lifestyle, personality, and social class can further be used for the segmentation (Depersio, 2017). This is where the company can focus on investors who have a personality to wait for when the business will start giving out returns. 9 ● Pre-Investor: people who just are not investing, who are characterized by having a minimal amount of financial awareness (Tresidder, 2020). ● Passive Investors: include people who usually have the basics of financial security; owning their own home, having a retirement plan, and saving 10% of their earnings (Tresidder, 2020). ● Active Investors: include those who are searching for financial security and make an extra effort to accomplish that goal. They are not worried about how much they earn but how much their money earns (Tresidder, 2020). 2.3 Target Market Analysis The segments Top Choice Capital we believe should target are passive and active investors. Since passive investors account for most investors, usually already own homes, and are not too familiar with long term investments, targeting these investors will be ideal to increase the number of investors interested in investing in the company. Active investors are the other main type of investor that we are targeting. Although active investors are already familiar with different types of investments, they are more likely to invest and have the means to be able to invest. Active investors are knowledgeable about the different types of investments and will fully understand what the business has to offer. 2.3.1 Expanding Outreach to Investors The company can further widen its target market for more and better performance. Currently, the company targets real estate brokers and agents within LA and Ventura County. Surroundings: This market selection is based on geography. However, the business needs to focus on the crime rate in these areas. Investors will be hesitant to invest in places where there are high rates of crime. Therefore, the business needs to be established in strategic locations where there are fewer recorded rates of crime such as violence, theft, or robbery. The business further needs to focus on traveling. Less traveling is always attractive to buyers and investors. Travel attitude and residential built environment are significantly related (Lin et al., 2017). 10 Utilize Past Relationships: Since the company is already operating in LA and Ventura County, its investments should be in a place that is easily accessible to both the buyers and the investors. As the traveling time is being considered, there should also be consideration of the wealth of the people around. According to Joseph (2019), real estate is a representation of the wealth of most people. This is a common situation with most of the homeowners in the United States (US) (Joseph, 2019). With this information in mind, the client should ensure that its target market is wealthy people, who also have easy access to the residential and other properties it is offering. Additionally, the company can also consider targeting different people of different economic classes with the properties that they can afford and access easily. What remains common is that the ease of traveling is a major concern. Products can be far, but the economic status of the target market can still make it easy for them to access. 2.4 Barrier to Entry Entering the market is rather easy. As long as you have enough money you can make your presence known in this market. Getting into the market is just as easy as getting out. Depending on the trend in the market there may be less or more competition. Even those who don’t even consider themselves competitors can be. This is due to the fact that there is a lot of money to be made if done correctly. It is very hard to separate yourself from the competition for the most part because this market is very straight forward. People want the best deals possible. So, creating a solid brand image and a good reputation in the field is vital. ● Everyone is practically doing the same thing. ● Money is power. ● Anyone can enter the market. ● Saturated market 2.5 Power of Buyers For the investment side of the business investors have all the powers since it is ultimately their money being used. It is up to Top Choice Capital to make their offers appealing as possible in order to win them over. There is an abundance of other ways to invest rather than real estate. On 11 top of that, essentially anyone can be a competitor in the real estate market. Whether it be individuals or companies. 2.6 Substitutes On top of there being countless amounts of ways investing money Top Choice Capital also has to consider that not everyone wants to invest. So, giving individuals the “why” is going to be key to having success with their per project investment fund and general investment fund. If not possible investors may result in going to different forms of investments. Such as: ● Going to other competitors ● Stocks ● Savings accounts ● Bonds ● Index funds 2.7 Competitive Environment There are countless amounts of competitors for Top Choice Capital since the barrier to entry is very low and there are many other ways to invest money other than real estate. Furthermore, this market heavily revolves around being fast paced. Good deals can come and go simply because the company didn’t act fast enough. The motive of this section is to become familiar with the competitive market. With extensive internal research we were able to find benefits that other companies have to offer and how Top Choice differs from this list. Looking at the competitive environment, will help better understand the strategies and techniques Top Choice should use to stay competitive. 2.7.1 Stocks Top Choice Capital’s other competitor is stock investments. The advent of technology has changed stock investing and is attracting more people than ever before. The availability of stock trading phone apps and internet accessibility in homes has created many people who want a piece of this market. In the real estate market, properties in the hot areas of the market might require much money to purchase compared to the amount a person needs to invest in a particular company’s stocks. Therefore, a prospective investor might find it easier to invest in stocks than 12 property. A stock investor also has more control over their finances than they would have in property investment. The availability of the internet in homes is an indication they can follow news on their stocks and pull out of investment in case of adverse market expectations on the company. They can add to their investments in case of positive expectations on the stock performance. Top Choice Capital needs to recognize the competition stocks pose because stocks have …
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