Simulating Characteristics of Populations †Free Samples to Students

Question: Discuss about the Simulating Characteristics of Populations. Answer: Introduction: The main aim of this report is to determine the demographic status of the post code 2040, in order to determine the market requirement regarding the real estate (Wedel and Kamakura 2012). Accordingly, the recommendations will also be provided which will help the organization to effectively tap the target area. This report will discuss about the existing forms of infrastructure in the given post code. Moreover, the demographic status such as marital status education, occupation and family size will also be discussed. It is important for the Alpha property development to undertake the market research and customer profiling due to the reason that it will help them to determine the target market along with the taste and preference pattern of the customers (Malhotra, Birks and Wills 2013). Customer profiling will help the organization to identify the needs and requirement of the customers (Ghosh, Sun and Zhang 2012). Accordingly they can provide their products in the market. Market research and customer profiling also helps the organization to identify the market standard and the purchasing power of the customers. This will enable them to offer their products accordingly. This particular postcode is more of a tier II city and thus, the shopping centers are much more disorganized. Only single shopping center is situated in the location without having any malls (Vitorino 2012). The shopping center is located at the heart of the city with having access to other parts of the city. In addition, various other small shopping destinations are being located in this area. This post code is well connected with the various other regions with the help of road and train transport. Public transportation is the key mode of transportation for the people here along with the plying of private vehicles also. Trains are another mode of transport which helps in connecting with far areas. It is a beneficial factor for the real estate properties being setting up here. The road infrastructure is top notch with having various artery linking roads. The main highway is linking this post code with other areas. Different linking roads are connecting the post code from various directions. The average literacy level is favorable in this post code. Two high schools are situated in this post code. A college is there which is catering to the whole post code. However, a major portion of the population goes out for the higher studies. Several kindergarten and child care organizations are situated in the locality. Being a tier II area, recreational and leisure such as gyms, parks, bike paths and swimming pools are not being available to a large extent. The entire locality is having a single park for the recreational purpose. There is a urgent need for a community hall in this locality. Restaurants and entertainment One star restaurant is available in the locality. Expensive restaurants are not there due to the reason that the purchasing power of the customers will not permit. However, restaurants catering to different cuisines will have opportunities in this area. A single screen movie theatre is located in this area. No multiplex is there and thus having a multiplex will help to attract more customers. From the gathered data, it is being seen that people from the age group between 35 and 39 comprise of the major portion. The age demographics of this locality is more or less similar to that of the average Australian trend (Magnus 2012). However, the population above the age of 75 is more in this area compared to the national average. This is due to the fact that major portions of the younger generation are being migrated to the metro cities for job and education. The majority of the population is married due to the fact that younger generations have been migrated for the higher education and job. The average education level in the locality is the high school grade. This is due to the reason that there is less chance of higher education due to lack of higher education facilities. This is also one of the key reasons for the younger generation to migrate. The weekly income of the post code is mostly favorable due to the reason of high level of literacy and job opportunities. The weekly income ranges from $ 84. Majority of the people are being employed due to the presence of various employment opportunities and migration of a major portion for job purposes. The average daily work hours in this postcode are 7 hours which is at par to the national average. Thus, the working hours in this post code is also favorable. The major portion of the population is depending on the farm activities. A large portion is in the service sectors. Various large business houses have their facilities in the locality which employs more people. Family composition Majority of the families are having husband and wife and most of their children went for higher studies. In addition, younger generation has also opted for separate house. The majority of the population is having nuclear family with small portion is having large joint family. The average family members per family in this postcode are 3. Majority of the families are having single apartments. Concept of housing complex is not common in the locality (Rahman et al. 2013). Most of the apartments are having double bedrooms. Single bedrooms are also there. More than double bedrooms are rare sight. Most of the apartments are being owned with some are being rented. The registered motor vehicles are less in number compared to the households. Currently, there is 1 motor vehicle for every 3 households. The average price is on the lower side due to the fact that the demand is lower compared to the supply. However, with the increase in the income level the demand is rising along with the price level. Establishment of shopping mall will be profitable for them due to the reason that there is not a single shopping mall in the locality (El Hedhli, Chebat and Sirgy 2013). Thus, the market for shopping mall will be more. Having low cost high rising residential property will also be profitable due to the fact that customers will avail the low cost residential properties. Initiation of a community centre will have many opportunities due to the reason that there is not a single community centre in the area. Conclusion Having analyzed the market demography of this postcode, it can be conclude that the locality is having mostly middle class families and thus construction of low cost properties will have huge opportunities. In addition, the average income of the locality is rising and thus the purchasing power of the customers is also rising. Alpha property development will have huge opportunities if they invest in diversified properties. The price of the property is also rising and thus initial investment for them will be favorable. With having effective transportation and road ways, residential properties will find buyers in this area. Reference El Hedhli, K., Chebat, J.C. and Sirgy, M.J., 2013. Shopping well-being at the mall: Construct, antecedents, and consequences.Journal of Business Research,66(7), pp.856-863. Ghosh, S., Sun, X.A. and Zhang, X., 2012, May. Consumer profiling for demand response programs in smart grids. InInnovative Smart Grid Technologies-Asia (ISGT Asia), 2012 IEEE(pp. 1-6). IEEE. Magnus, G., 2012.The age of aging: How demographics are changing the global economy and our world. John Wiley Sons. Malhotra, N.K., Birks, D.F. and Wills, P., 2013.Essentials of marketing research. Pearson. Rahman, A., Harding, A., Tanton, R. and Liu, S., 2013. Simulating the characteristics of populations at the small area level: New validation techniques for a spatial microsimulation model in Australia.Computational Statistics Data Analysis,57(1), pp.149-165. Vitorino, M.A., 2012. Empirical entry games with complementarities: An application to the shopping center industry.Journal of Marketing Research,49(2), pp.175-191. Wedel, M. and Kamakura, W.A., 2012.Market segmentation: Conceptual and methodological foundations(Vol. 8). Springer Science Business Media.