Business segmentation and real estate development: Measuring the relationship between segmentation bases and perceived effectiveness of segmentation variables

The purpose of this dissertation is to provide insights into the relationship between overall segmentation bases employed by marketers operating within the real estate development industry and their perception of the effectiveness of specific segmentation variables. The main premise is that the choice of a segmentation base must be consistent with the marketer's perceived effectiveness of individual segmentation variables in order for the segmentation concept to be operational and strategically relevant in an industrial context.;Five research questions guided this research: (1) are the employed segmentation bases independent of the different sectors of the real estate industry? (2) is there a significant difference in the measures of perceived differentiability and actionability of individual segmentation variables? (3) is there a significant difference in the perceived effectiveness of individual segmentation variables between different sectors of the real estate development industry? (4) is there a significant difference in the perceived effectiveness of individual segmentation variables within the real estate development industry? (5) is there a significant difference in the perceived effectiveness of marketing mix factors employed in the development of marketing strategies in the real estate development industry?;The research utilized a methodology designed to (a) assess the effectiveness of individual segmentation variables, and (b) examine the relationship between segmentation bases and the effectiveness of specific segmentation variables.;In a broader context, by identifying the optimal mix of product type and price points necessary to achieve the highest rate of absorption in the shortest period of time, market segmentation serves to minimize the exposure of the firm's capital to market risk, while maximizing the time-sensitive rate of return.;The population for this study consisted of chief executive officers, marketing directors, and marketing consultants of master planned residential community (MPC) developers in the United States. The sampling frame consisted of the members of the combined community development, recreational development, and residential development councils of the Urban Land Institute (ULI).