Real Estate Research Paper Example | Topics and Well Written Essays - 2500 words

Real Estate - Research Paper Example In tandem with some good prospects for other GCC states, such as Qatar which is expected to benefit from the real estate boom fueled by its hosting of the World Cup in 2022, Kuwait is seen as enjoying a boost to its real estate sector in general moving forward, with positive signs in 2012. Of the three segments, residential, investment and commercial segments in Kuwait, it is the residential sector that has seen much growth in 2012, followed by the investment segment, and with the commercial segment trailing and exhibiting problems and poorer prospects overall relative to the residential and investment segments of the Kuwaiti real estate sector (Ejaz). Taking a step back, prior to the financial crisis of 2007-2008, it is worth noting that prospects for the Kuwaiti real estate sector were seen as very good by the mainstream investing public, with the real estate sector seen as being one of the key pillars of the Kuwaiti economy, together with oil and the Kuwaiti stock exchange. As it is at present, in 2007 the residential segment of the sector was seen as leading the charge of growth, with the investment segment behind it, and the commercial segment seen as doing relatively well too, during that time, with growth at an compounded annual growth rate of 18.8 percent for the period from 2000 all the way to 2006. We can see, moreover, that from the way the literature has segmented the Kuwaiti real estate sector, that industrial real estate translates to commercial real estate roughly, as this is the segment of the sector that is allotted to businesses. The investment segment, on the other hand, pertain to those properties that are allocated to being rented out to foreigners and other entities within the Kuwait society (Global Investment House KSCC). Moreover, taking the entire discussion in the context of the situation of the real estate availability in Kuwait, one sees that because of the government mandate to provide property/housing for all citizens of Kuwait, an d owing to the fact that just a tenth of the total land in the country is available for real estate activities, that two things are evident. One is that residential or non-industrial real estate dominates activities in Kuwait. Two is that there is less emphasis conversely on the industrial real estate sector in Kuwait, with Kuwaiti real estate firms focused instead on venturing into nearby regions for industrial real estate development due to the lack of land for such purposes in Kuwait. On the other hand, government is in charge of most of the industrial real estate development in the country, it seems, from the way the government has been spearheading the very large industrial projects in Silk City and in the islands of Failaka and Bubiyan, with the goal of uplifting the state of industrial development in Kuwait to make it on even terms with the level of business real estate development in the other GCC countries (Zawya). There are prospects for industrial real estate activities w ithin the free trade zone known as the Kuwait Free Trade Zone or KFTZ, which had been in operation since 1999, and have about 90 percent occupancy rates for companies who have on paper come to enjoy some of the benefits that do not accrue

The Changing Role of Advertising And Promotion in Consumer Markets Essay

The Changing Role of Advertising And Promotion in Consumer Markets - Essay Example Thus, a product may fall short of standards and is inferior to its competitors, but if the advertising done to promote the product is clever and effective, business will be good for the company involved.But there is a growing consensus among top businessmen that the current crop of advertisements is not effective enough to cover for any shortcomings of a product. Nothing demonstrates this better than the amount of respect that advertising gets - or does not get - from business decision-makers. In a US survey of 18,000 business executives conducted by the American Advertising Federation (AAF), it was found that advertising is no longer held in high esteem by business. Of the respondents in the survey, 29 percent said the most important aspect of the business processes is product development, followed by strategic planning with 27 percent of the vote. Public relations got the nod of 16 percent, while 14 percent went for both R&D and financial strategies. Advertising and legal brought u p the rear with 10 percent and 3 percent, respectively (Ries, A. & Ries, L., 2002). The image of advertising before company bosses has in effect plunged to the level of corporate lawyers, whose job has always been the favorite butt of jokes in company gatherings. While the AAF survey served to tarnish the credibility of advertising, it put a shine on the image of public relations. This strengthens the growing conviction that advertising can no longer influence consumers and generate sales on its own. No matter how you look at its miserable rating at the AAF survey, 10 percent is 10 percent and this is enough indication that it still counts as a promotional tool. The unmistakable message gleaned from the survey then is that advertising should now only be part of a marketing mix that ought to include public relations, first and foremost, and the other proven techniques such as sales promotions and personal selling. Marketing Adopting a combination of strategies to push a product or service is what marketing is all about. According to its textbook definition, marketing is "the whole process of storing, shipping, advertising and selling to promote and actualize a sales transaction." Getting the right marketing mix, however, is easier said done. Bedbury & Fenichell (2002) suggest that to get the right combination, companies must first identify their audience, then choose the right message for the right medium. The message must be new and personalized, not something that has been flogged to death by others. In choosing the audience, the selection must be based on such attributes as age, gender, income, married or single, family or couples, housing types, car ownership, hobbies, holiday preferences, attitudes. Don't emphasize the obvious and don't insult the intelligence of consumers with false offers, Bedbury & Fenichell advice. In the marketing strategy, positioning plays an equally important part. Positioning a product for a feasible market involves communication, which has become difficult in an "over-communicated" society (Ries, A. & Trout, J., 2000). But a firm can manage if it considers not only its own strengths and weaknesses but also those of its competitors. The reason is there just too many companies, too many products, and too much noise such that in the US alone, per capita consumption in advertising is placed at $200 per year. The easiest way to get into a person's mind is to be there first