My Home Australia Imc Plan

1.0 Introduction

The endeavour of this report is to serve as an extension or complementary alternative for the original My home Australia marketing plan. It is essentially a integrated marketing communications plan which addresses the objectives of brand awareness and brand preferences for the business "My Home Australia". This report will outline several advertising and promotional strategies designed to achieve these objectives. Lastly a budget and schedule of implementation is presented.

1.1 Company profile

My Home Australia is an e-business dedicated to providing South Africans investors the opportunity to purchase properties in Australia and New Zealand in a time of tremendous real estate growth. It is essentially operating in the investment services industry, specialising in the residential properties market through an internet-based medium.

2.0 Analysis of the Situation

2.1 Target Country Analysis

The country under analysis is South Africa, the geographic market that MHA is entering. South Africa is a middle-income, emerging market and is one of the wealthiest and most economically advanced countries in Africa (World Bank 2006). It is a country with a population of 44 million and a stable economy growing at a rate of 4.6%, the same rate as inflation (Infoplease 2006). Due to the influx of opportunities created by the government's redevelopment and income redistribution efforts, a recent study has found that the majority (58%) of South Africans, even thought still worry about the future, are nonetheless optimistic of the future (Van de Merwe 2005).

2.2 Competitor Analysis

Due to the unique services offering of this business, there are currently no direct competitors. However, there still exist several sources of indirect competition.

One potential source of indirect competition may come from South African investment specialist (including financial advisors, real estate agent and accountants) who has direct contacts to local Australian investment specialists, an example being Expat Focus (www.expatfocus.com/expat-finance).

Another source of competition may come from Internet based financial advisors or accountants either based in South Africa targeting locals or overseas companies targeting foreigner. Real estate agents based in Australia such as realestate.com.au (www.realestate.com.au) is another source of competition, by providing a resource for potential property purchasers, however, none of these sites specialize in sourcing real estate for foreigner investors. Potentially, any other investment avenues can also pose as a source of indirect competition, as well as any subsequent imitators or business immigration agents.

2.3 Overview of the real estate market in South Africa

The finance, real estate and business service sector accounted for 38.6% of the GDP in 2004, an increase of 21.7% in a 4-year period (OMD 2006). The major trend in the housing market is the recent house price boom and the subsequent increase in property investment and speculation. Private sector building is increasing due to high demands and large construction companies are reporting improving trading profits.

Traditionally, houses in South Africa have been large 4-5 bedroom properties with large gardens. However, the trend now is to construct apartments or townhouses due to the anticipated continuation in urbanization, growth of the middle classes, smaller family units and continued fears over crime. (Euromonitor 2004) Subsequent to the construction boom, house sales and house prices are increasing dramatically. Recent reports show that property prices increased 22% in 2003 on average and 36% in 2004. Similarly, there have been 18,000 newly registered real estate agents in the last few years contributing to a total of 45,000 agents currently operating in South Africa. This boom has lead to property speculation and the trend of "buy-to-let" is becoming very popular amongst the more affluent section of the population. (Euromonitor 2004)

2.3 Target Market Analysis

2.3.1 Market Segmentation

2.3.1.1 Demographic

One of the major trends in demographics is that the population is gradually becoming older, wealthier, and less impulsive and more family orientated. These consumers are wiser, more discerning, more intelligent, more independent and more individualistic. Middle-aged adults (30-59 years of age) show a continued growth from 1990-2015 exceeding 77%. This segment is characterized by family life, with children still living at home. The trends for baby boomers (40-59) sub-segment of the middle-aged adult group are very similar. There is predicted continued growth within the segment through to 2015, with a 45% increase in numbers between 2000 and 2015. From the figures, it can be seen that almost 70% of the gains in the middle-aged adult segment are a consequence of the gains in the baby boomers sub-segment. This segment is focused on their savings and looking towards their retirement and are currently the greatest investors in life insurance, retirement annuities and banking investment products. With the increases predicted in this segment and the emergence of more middle-income earning households, these products are opportunities for future growth. (Euromonitor, 2004)

Through the government's attempts to eradicate inequalities, general education levels in South Africa are increasing. There is a steady increase in the number of people going on to tertiary level education. An implication of this is that advertising must become more sophisticated so as to appeal to this new breed of consumers. (Euromonitor, 2004)

The emigration trend is still continuing with the number of people emigrating exceeding the number of immigrants since 1993. In the early 1990s emigration accelerated in anticipation of a non-peaceful democratization process. Since then emigration has been steadily averaging 9000 people per year (0.02% of the population). Most of these emigrants were affluent (by South African standards) white South Africans that feared the failure of the new democratic government. In 2002, most of these emigrants headed for the UK, followed by Australia. (Euromonitor 2004) According to the Department of Immigration of Australia, South Africans immigrants make up 8% of the skilled stream of immigrants into Australia and 9% of the business visa immigrants.

2.3.1.2. Geographics

Cape Town is currently