Journal article
An Evaluation of the Role of Marketing Research on Property Development in Gaborone, Botswana
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Publication Details Author list: Kampamba, J.;Mogapi, K. A Publication year: 2020 Volume number: 37 Issue number: 2 Start page: 102 End page: 113 Number of pages: 12 |
Purpose – the purpose of this research study was to establish the role of marketing research on property development in achieving customer satisfaction from the products that are offered on the Gaborone property market. Research design/methodology/approach – This is a mixed method cross section descriptive and explanatory research. The probability and non-probability sampling techniques were used in order to meet the objectives of the study. A sample size of 97 buyers was determined at 90% confidence level using the population of 2,900 property buyers from 2011 up to 2013 using systematic random sampling and random sampling for the 58 from the list of developers and estate agents in Gaborone. A self-administered questionnaire was developed and administered to the respondents who have already bought properties in Gaborone; and to property developers and real estate agents to solicit information on their views on the role of marketing research on property development to establish customer satisfaction of the buyers. Significance – the study is relevant to property developers who just invest/develop scarce resources without firstly establishing the need for the product. Findings – The study revealed that market research plays a significant role in the decision making process for property development. It is very critical because it helps property developers to minimise the risks in developing properties that will not be bought hence negatively affecting the success of the development company thus affecting the profitability of the business. Marketing research also plays a vital role through the STP strategy in segmenting, targeting and positioning the product (building) in the minds of the target market by developing the properties with features desired by the buyers. Usefulness of the study- This study is the first of its kind in Botswana and has revealed that the current practice of property developers has some short comings in terms of not embracing the principle of market research. Keywords: Property development, marketing research, property developers, estate agents, segmentation, targeting, positioning, Gaborone, Botswana
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