Marketing Strategies for Condominium Targeted on the First Jobbers in Real Estate Development Companies: Case Studies of Sansiri PLC, AP (Thailand) PLC, Pruksa Real Estate PLC, and Origin Property PLC

Abstract

Currently, the first jobber is a growing trend, but there are still limitations to accessing housing. Therefore, real estate developers need to use marketing strategies specifically targeted at this group. This research aims to study marketing strategies for condominiums targeted towards the first jobber group of real estate development companies, with a case study of four companies: Sansiri Public Company Limited, AP (Thailand) Public Company Limited, Pruksa Real Estate Public Company Limited, and Origin Property Public Company Limited. The study collected data using surveys and interviews with the four companies' business owners, analyzed similarities and differences in marketing concepts, marketing strategies, and the characteristics of condominiums for the first jobber, and summarized the lessons learned from the case study.    

The study found that 1) the case study company had an idea of making the first jobber one of their important target groups, which was outlined in their vision, mission, and some companies set it through the management concept and competitive strategy. 2) The important marketing strategy was to (1) set the marketing segmentation, target group, and positioning (STP marketing), which found that the marketing segmentation of all projects focused on the affordable price with the target group being the new generation, young workers, or Gen Z. The projects had advantages such as price, location, public area space arrangement, interior space arrangement, and some projects were able to provide pet-friendly facilities, etc. (2) Marketing mix, which found that most companies adjusted their distribution channels to online platforms, and adjusted the public area and interior space to reflect the lifestyle of young workers. Some companies were willing to accept newly graduated workers and provide opportunities to take responsibility for condominium projects that catered to their needs. 3) The characteristics of condominiums for the first jobber, which found that the locations were distributed in urban areas, and the projects were mostly low-rise condominiums. The interior space of the units was mostly decorated and ready to move in, with additional storage space inside the units. The public area space met the needs of users, such as a 24-hour open common area, meeting space, and exercise space, etc.

The study reflects the importance given to the first jobber by property developers. The key lesson to ensure success in marketing condominiums to this demographic is to set prices that they can afford. The project should be located in an easily accessible location with convenient transportation, such as near a train station, and the condominium should be well-decorated and ready to move in.