Buyer Preference Surveys –
Developers and builders are the primary market for Buyer Preference Surveys asking critical questions about the buyer.
Matching product offerings to buyer preferences is basic in effectively competing in the market.
The six magic words of marketing are “find a need and fill it.” Understanding “the buyer” according to Dr. Watson is elementary yet target market segmentation is often bypassed.
Who is the buyer, what do they want and how do I effectively reach them. There has to be a balance between the target buyer and the product offered. When those two factors are in-sync, sales are positively impacted.
The key to knowing the buyer is a combination of demographics and lifestyles. In other words, couples over age 55 with no children is a demographic characterization, yet the lifestyles of 55+ couples can be vastly different. The power is in the details and discovering the nuances of the target market.
In addition, knowing the buyer’s motivations is critical to the final successful outcome.
Surveys, interviews and focus groups are the research techniques often used.