BU 615 Herzing University Marketing and New Product Development Discussion

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Business Finance

BU 615

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You have become the Executive Vice President for Marketing of the new Gaia Real Estate, inc. that covers both consumer and commercial/industrial structures; your job is to expand Gaia throughout the United States. Focus on the following important elements in the real estate industry:

  • Look at the latest census data and identify at least two areas in the country that are growing.
  • Make plans to enter into those areas and crystallize your priorities either in commercial/industrial or consumer structures. Explain why.
  • In the consumer area, are you going to include condominiums in addition to single-family structures? Crystallize your priorities between the two and explain why.
  • Assuming that you are going to use beta tests, identify the criteria to be used for the selection of clients in both commercial/industrial and consumer real estate.
  • Decide who your clients would be (demographics) for condos, single-family structures, commercial structures, and industrial structures.
  • Also, consider the use of prognostication (forecasting) covering all the classifications of structures cited above. Provide priorities.

Explanation & Answer:
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Marketing and New product development

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Marketing and New product development
Based on the latest census of the new Gaia Real Estate data, it appears that both
commercial and industrial structures are growing in popularity. Specifically, two areas in the
country appear to be growing the most: the Northeast and the West. The Northeast region of the
United States is growing faster than any other region in the country. This is due in part to the
region's strong economy and the influx of people moving from New York City to the area, which
is a major hub for business and finance to the area from other parts of the country. The Northeast
is home to many businesses, so there is a greater demand for commercial and industrial
structures. The Southwest region of the United States is also growing rapidly (Guarini et al.,
2018). This is due to the region's strong economy and the influx of people moving from the
Midwest to the Chicago area from other parts of the country. The West has a lot of lands perfect
for development, so there is more room for growth in this area. The reason for this growth is
likely because these two regions have the country's highest population densities, which means a
greater demand for goods and services.
Entering the Northeast or Southwest region of the United States would be a good idea for
a business because these regions are growing faster than any other region in the country. These
are the areas you want to be if you want to enter the commercial or industrial real estate market.
They should be at the top of your list. Both regions offer a lot of opportunities for growth and
development, so you should be able to find success in either area (FONSECA et al., 2018). These
are the most populous regions in the United States, so it makes sense to enter these markets first.
The Northeast is hom...


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