Marketing Strategies for Condominium Residential Real Estate, a Comparison of the Promotion Effectiveness of Physical Factors of Sale Gallery and Digital Marketing during the Covid-19 Crisis

Abstract

The goal of this research is to investigate the marketing strategy for the growth of condominium residential real estate during the Covid-19 crisis till it affects the Thai economy, particularly the real estate business, which has never happened in the previous ten years. Domestic purchasing power is directly affected when consumers are unable to travel to digital media sales offices, it is a critical issue. Entrepreneurs are striving to improve their business strategies. For example, marketing that responds to the Real demand group in order to invent new marketing strategies. This research collected comparative data between physical factors of sale gallery and digital marketing of 2 real estate development companies as a sample group. Data were analyzed by means of text extraction, in-text adaptation, and comparative analysis on the selection of adaptation strategies led to the conclusion.

The findings revealed that 1) Digital media is an extremely important tool during the COVID-19 crisis. In the past, online media were primarily used to compare information as part of the marketing communication process. When buyers would like to purchase a condominium unit but are unable to access the project, digital media has a significant impact on purchasing decisions during this crisis. It includes being interested in buying, comparing information, making a purchase decision until post-purchasing, and selling online almost 90% without traveling to the sample room. 2) Entrepreneurs are primarily concerned with the strategy of utilizing internet media in conjunction with the décor of real sample rooms. Current consumers are better educated and spend more time making decisions. Although the cost of a sample room is relatively high, and entrepreneurs would want to keep costs down in this sector, both channels are still vital strategies for impressing and stimulating consumer demand.

This research recognizes the rapidly changing dynamics in technology and the new consumer journey. As a result, digital marketing tools are important. Accordingly, the researcher is interested in researching this topic and expects that the real estate industry and digital marketing communications leaders will use the research findings as a guideline for digital marketing in their business operations further.