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You are the founder of a startup called Welcome Homes. Welcome Homes is trying to make it easier for home buyers to build a newly
- You are the founder of a startup called Welcome Homes. Welcome Homes is trying to make it easier for home buyers to build a newly constructed home without having to deal with delays and headaches. Their slogan is “Order your dream home, online.” They promise prospective buyers that they can “build the home you want, where you want for a guaranteed, all-in price.” Homes come with select customization options with new homes in the New York metro area starting at $670,000, not including the land the homeowner has to purchase.
- The $670,000 model is their smallest and most affordable option, but they have two other options, the most expensive at $880,000 (not including the cost of the land).
- While you don’t have a marketing team, you took an Integrated Marketing course in college so you feel confident you can come up with a marketing plan yourself.
- You’ve received $1 million in funding from investors to launch this marketing plan.
- Figure 1
Target Audience | Audience #1 | Audience #2 |
Segment Size | 450,000 | 125,000 |
Segment Adoption Percentage | 0.25% | 1% |
Purchase Behavior Purchase Price Purchase Frequency | 1 $670,000 1 | 1 $750,000 1.5 |
Profit Margin | 25% | 30% |
Fixed Costs | $5,500,000 | $4,500,000 |
Segment Profit | ? | ? |
Answer: |
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