Dockside_Green_Case_Study

| Dockside Green | | Case Study: Branding | BCIT November 27, 2010 MKTG 1-C / MKTG 1102, Anne-Marie Webb-Hughes Authored by: Group C- Alex Darmanin /Yvonne Rivera / Nichole Marshall / Kjer Vaartstra / Darian Newstead / Maria Villadolid CPR Marketing Consultants Table of Contents Introduction 2 Problem Detected 2 Key Findings 3 Key Facts 4 Assumptions 6 Target Market 7 Swot analysis 9 Competitive analysis 10 Alternatives 14 Objectives 17 Solution 18 Implementation Plan 22 refrences 23 Course concepts 24 Introduction Dockside Green is a 1.3 million square foot, mixed-use, sustainable community development on a 15-acre former Brownfield site located in Victoria, British Columbia. The area is made up of residential, office, commercial and industrial uses and inclusive community that supports new economic opportunities and a high quality of life with minimal impact to the environment. With two successful buildings under their wing, Synergy and Balance (which are 93% sold out), Dockside Green is just about to launch its third phase named, Harmony, and is hoping to set themselves apart from other competitors. Dockside Green needs to place Harmony into the market soon. The marketers must ensure that they gather enough sales results that can help sustain the continuation of subsequent phases of this huge development. Problem Detected After a market crash and the deceptive “green” craze, how should Dockside Green promote its new building “Harmony” so that it meets the 25% presale phase quota (specifically 22 units), and create momentum in the following sale phases' Key Findings * Dock Side Green is a master planned development by Windmill Developments and VanCity Credit Union. * Environmental, social, and economic responsibility is the anchor of the entire project. * It is located on a fifteen acre harbor front in Victoria British Columbia. * The development will consist of residential, retail, commercial space, paths and parks. * The master planned community is built to LEED specifications and has been awarded 63/70 points thus far. * Each suite has its own electricity and water metre, which lowers cost for those who use less. * Buildings are constructed with green roofs, fly ash, Tritton wood, fresh air systems, and local products when possible. * Waste wood plant, sewage and storm water treatment plant, park and third mid rise Harmony are under construction. * Harmony is scheduled for completion in the spring of 2011. * Marketing media used for Synergy and Balance were local newspaper, website, public relations, and direct marketing through the show room on Wharf St. These efforts and message of green advantages were met with reasonable success. Key Facts PRE DEVELOPMENT * The west bank of Victoria’s harbor called “Dockside Lands” were once a landfill, like many areas in Victoria. * 15 acres of industrial land was heavily contaminated with residue from mills and a paint factory. * The site was purchased from the province for $1 by the city of Victoria in 1989. MUNICIPALITY OF VICTORIA * Request for proposal was released in 2004. Forty days later, Windmill Developments won the bid for with a 12 phase, $600 million dollar master planned community proposal. * The land was purchased from the city for $8.5 million. The city deferred the payments to free cash up to enable speedy infrastructure construction. * Has amended community plan and zoning bylaws specifically for Dockside Green. * Has passed legislation requiring all building over 500 feet squared to comply with LEED specifications. * Members of Victoria’s community are very active in the design and development of Dockside green. * Victoria’s major industries are Technology, tourism, marine, and health services. * Four major post secondary institutes, the western fleet of the Canadian Armed Forces, and the Government of British Columbia also operate out of Victoria. ECONOMICS * All though Dockside Green continues to sell, a recent slow-down caused ten Dockside staff to be laid off. * Over the past two years several large developments in Victoria have been cancelled * In 2008 the construction industry employed 235 200 people and had experienced a growth of more than 4%. Later that year investments, building permits and starts took a nose dive into the negative digits. Employment dropped to 187 800, which greatly affected the rest of the economy. REAL ESTATE * Victoria has some of the most expensive real estate in Canada. * Dockside units, being sold at $500 to $900 per square foot, are comparable in price to others in Victoria. CONSTRUCTION * Total estimated cost is $600 million dollars. The 12 phases will take 10-12 years to complete. * Construction costs are 1-1.5% higher than regular construction costs. DEVELOPING PARTNERS * Designed by leading green architecture firm Busby Perkins+ Will. * VanCity provided 75% of the capital for the project and has since bought the remaining 25%. * Windmills, Joe Van Bellegham has moved on to other projects due to slow speed of Dockside. * A triple bottom line building code is used; environment, social, and economics! BUILD OUT * Dockside green will have three neighborhoods and contain 26 buildings, 1100 dwelling units, 1.3 million square feet of residential, commercial, office, and retail space. * Residential units occupy 73% of the space and will housing 2500 people. * Shops, a mini transit system, fitness centre, and amphitheater are included the master plan. * Dockside Green under contract to pay the city of Victoria up to $1000000 in fines if LEED certification is not met. AFFORDABLE HOUSING CLAUSE * Seventy-five units have been set aside for “affordable housing”. Twenty-six of these were built within the Synergy and Balance. The remaining forty-nine are held in perpetuity as non market units. The units are managed by a local not for profit society. ADVERTISING CAMPAIGN/ sales * Eclipse Creative created the print advertising campaign for Balance. * Synergy, which has 96 units, sold 85% worth within 3 hours. Occupancy began in May 2008. GREEN TECHNOLOGY BENEFITS * On-site sewage treatment plant saves residents $500 per year due to being exempt for city inspections. * Heat recovery ventilators provide 100% fresh air to all units. * All paints, sealants, adhesives have low or no volatile organic compounds. * Reclaimed wood from Lake Lois is used in construction. * A six month supply of environmentally friendly products will be provided for all residents and businesses. * Up to 70000 gallons of public water will be saved annually by using water efficient appliances. * Water treatment plant will treat a recycle sewage, bathwater, and dishwater. The reclaimed water will be used in toilets, outdoor water features, and 18000 gallons will be sold to businesses. * Sealed doorways prevent odour migration. Smoking has also been banned in public areas. HARMONY * Will contain 88 units and average out to 87134 sqaure feet. * Is scheduled for completion in the spring of 2011. Assumptions * Dockside Green has experienced construction set backs from the 2008 recession. * Dockside Green has suffered due to the effect of “Green Washing”. The brand must fight to distinguish its self among competitors promising similar economic and environmental benefits. This has partly been caused by the city of Victoria’s legislation requiring all new buildings over 500 feet squared to comply with LEED regulars. Also, the pure social popularity of sustainability has pushed developers to offer more “green” friendly components. * Harmony, the most recent building, needs to sell a minimum amount of units to help ease the burden of construction costs. * Harmony is not expected to sell out as quickly as Synergy and Balance have. * Dockside Green and the City of Victoria still have a harmonious working relationship. Target Market Demographics Our demographics for Dockside Green consist of both baby boomers and Generation X, ranging between the ages of 30 to 60. The first cycle of baby boomers are now reaching their 60th birthday and with this milestone, they are redefining what it means to live life to its fullest. At this time, their kids are just moving out, which gives the parents the opportunity to downsize and possibly retire. The socially aware Generation X’s are in the workforce and looking to invest in the future. Both segmentations share a growing interest in pursuing a healthy and active lifestyle - in an environmentally friendly way. Victoria’s percentage of population between 2008 to 2041 is expected to have a 6% decline of residents aged 25 or younger, a 6% decline of people age 25 to 65 and an increase from 17% to 29% in citizens age 65 and older. By 2041, Victoria is expected to have a shift in demographics due to the aging of the baby boomer generation. Geographic’s With the growth of the population and employment in Victoria, it is expected to have a moderate increase in real estate. Seeing as the market is moving up slowly, a good chance in sales would occur by the time Dockside Green’s phase 3 ‘Harmony’, is ready for pre-sale. Dockside Green is a perfect location, located a bridge away from downtown which is just a 10-minute walk, and is also close to an urban location, with the option of escaping to a more relaxed and calm atmosphere when needed. Tourists in the States have been aware of Dockside Green’s sustainability developments with Synergy and Balance. However, with phase 3 ‘Harmony’ just around the corner, it gives Dockside Green an opportunity to branch out and expand their target and to develop a following from different locations not just in Canada. Psychographics The profile of Dockside Green targets people who live for adventure, are health and fitness conscious, work toward living life to the fullest, and embracing freedom. Dockside’s goal is to be diverse and available to all, targeting the middle and upper class, who would appreciate the relaxing scenery and calm surroundings of Harmony. For those with a moderate to high income, it is a perfect chance for them to make a ’green’ investment for the future. Behavioral The target market seeks convenience, personal benefits and quality of life, making them ideal consumers for what Harmony has to offer for sustainability at Dockside Green. It is also conveniently located near outdoor activities, such as: golfing, sailing, fishing and skiing. The natural beauty and eco-friendly environment inspires people to get out and enjoy their surroundings. Figure 1: Demographics purchasing in Dockside Green Figure 2: Dockside Green Geographic Swot analysis Strengths | Weaknesses | * The units provide low strata A first-of-its kind, Dockside Green is simply what the name implies – environment-friendly living on the harbourfront – which happens to be in one of the most beautiful cities in the world.   * Canada’s largest credit union(van city) is providing Dockside Green with the financial aid they need to continue with the project * Internationally well-known for their community programs, and Windmill Developments, a recognized North American leader in green building and community design.  * Non-urea formaldehyde products like durable wheat board cabinet substrates are used and carpets have been made from environmentally friendly materials containing recycled materials to ensure good indoor air quality.  * Dockside Green is the first project in North America to register for LEED ND (Neighborhood Development) certification. * A passive solar design, fresh air ventilation and efficient appliances help reduce energy use in Dockside Green buildings about 50 percent compared with conventional buildings * Units have sensors that allow residents to monitor daily energy and water use. | * Victoria is not the livable city it use to be * Greenwashing is deterring people from buying real green products * There are not a lot of Canadians who know Windmill Developments, like they do Van City * Greenwashing is diluting the unique selling proposition of Dockside Green, * It is also creating doubt amongst consumers as the actual degree of sustainability in many a development is being called into question. * Dockside Green is at risk of being lumped in with the villainy of its greenwashing peers, especially amongst the less learned segments of the home-buying public. | Opportunities | Threats | * Renewal and re-use create far more opportunities for vigorous job creation and economic spin-off benefits. * Those benefits can provide the infrastructure and environment to support collaboration and synergies between different uses is the key to promoting new business ventures at Dockside Green. * If the property prices go down then Dockside Green may be able to sell more units quicker | * The green era could just be a market trend * The population in Victoria could decrease * Victoria may become a decreasing population city which will cause problems for the real estate located there | Competitive analysis “601 Herald” ~ Modern, well designed interiors coupled with a classic heritage exterior and an emphasis on quality. Location: 601 Herald Street Corner of Government and Herald Street in downtown Victoria’s Chinatown district. Status: Under Construction Began 2010 - due for completion 2011 Floor Count: 4 Units: 27 One or two bedrooms with the option of loft spaces of Zen garden terraces. Building Uses: Residential, Commercial Structural Types: Lowrise Amenities: Street fronting secure bike storage co-op. Private south-facing Zen garden exclusively for residents. Courtyard garden on the rear of the property and rooftop patios. Features: Stainless Steel Appliances Over height Ceilings Durable and elegant engineered hardwood flooring. In-suite washer and dryer. Full Bath Warm porcelain floor tile. Veneer cabinetry. Quartz Countertops Frosted glass sliding doors with chrome finish Price: 2 bedroom and 2 bathroom units $249,900 for 446 sq.ft. junior one bedroom ~ $429,900 for 922 sq.ft. Target Market: Appeals to those with active lifestyles who are attracted to the modern, class and elegance of “downtown living”. Website: http://www.601herald.com 2.“The 834” ~ A handsome, next-generation building, bringing Old Victorian warmth to sidewalk level. Aesthetically pleasing and environmentally sound. Location: 834 Johnson Street Status: Under Construction Began 2009 - due for completion 2011 Floor Count: 14 Units: 112 One or two bedrooms, townhouses and penthouses. Building Uses: Residential, Commercial Structural Types: Highrise Amenities: Courtyard terrace Theatre room Bike storage Rooftop garden Features: “Euro Style” In-suite electronic energy monitoring system. Efficient tap, showers and toilets ~ save water! “Grey water” heat exchange system to save energy and heat for less. Private balconies. Green roof with organic herb garden. Floor to ceiling windows. Outdoor terrace & BBQ area. Traditional red brick base. Indigenous and drought tolerant landscaping. Low VOC (volatile organic compounds) carpets, flooring, paints. Price: 1 Bedroom: $248,000 to $397,000 1 Bedroom + Den: $330,000 to $385,000 2 Bedroom: $402,000 to $447,000 Townhouse: $505,000 to $525,000 Penthouses: $469,000 to $699,000 * ALL PRICES INCLUDE HST. FOR INDIVIDUAL SUITE PRICING CONTACT US. * Note - Townhouse & Penthouse prices include 1 parking stall. Target Market: Appeals to those attracted to city life, urban, trendy, “city chic”. Website: http://www.the834.com 3.“Terra Verde” (West Coast Contemporary Town Homes) ~ Means “Green Earth”; located in the heart of the city and offers an abundance of leisure and recreation. Something for everyone. Location: 1020 Richardson Status: Under Construction Due for completion December 2010 Units: 16 Two or three bedrooms plus den. Building Uses: Residential Structural Types: Townhouse units. Amenities: Private green spaces. Entertainment sized patios. Secured underground two car garage. Professionally designed courtyard. Features: Contemporary design. Bright, south-facing exposure. Hardwood flooring throughout. Granite counters. Stainless steel appliances. Built-in wine fridge. Frameless gas fireplace. Built-in wall safe. Built-green by National Award-Winning builder - Abstract Developments Inc. 2-5-10 year new home warranty. Master En-suite with multi-head walk-in shower. Price: For Units of 1552 sq.ft. - 1654 sq.ft. ~ $749,900 - $789,900 Target Market: Appeals to those with small families or couples wanting a more “home” atmosphere. ‘Outdoorsy’ individuals who like modern, contemporary design with eco-friendly qualities. Prefer to be within a trendy community. Website: http://terraverdeliving.com PROMOTIONAL COMPARISON: | Presentation Centre | SpecialTactics | WebsitesListed on | Pre-salePrices | 601 Herald | Tues 12-3pm Sat & Sun 1-4pm | *Trevor Lindon has become a partner and put his name behind the project. | Twitter (condosvictoria)Facebookvibrantvictora.cacondosvictoriabc.comvarious real estate sites. | -No special pre-sale listed. Price for 1 bdrm starting at $248,000 | The 834 | 12-5pm, except on Fridays. | *Created their own “834 Magazine”, available for download.*Blog created on condo-living-west.com/blog.*Featured in Times Colonist and Calgary Herald.*Promotions through BMO - offering special interest rate-holds on pre-sale Victoria condo suites before completion. | condosvictoriabc.comvibrantvictoria.cacondo-living-west.comskyscraperpage.comvarious real estate sites. | -Pre-sale price listed at only $198,900 for a 1 bedroom condo | Terra Verde | Not found. | *Listed in Home & Living Magazine online. *Featured in news report during construction period. | *Facebook*vibrantvictoria.ca*various real estate sites.*featured on news report shown on YouTube. | -No special pre-sale listed. Price for 1 unit (3 bdrms)starting at $749,000 | Alternatives Alternative 1: Refreshed message, traditional media outlets, and public relations. “Your utopia” This could be the message of Harmony, Dockside Greens newest building. It is meant to communicate the lifestyle, serenity, and community of Dockside Green along with the prestige, status, and benefits of a Platinum LEED certified development. Viewers will be led to see that its not just real estate, it’s REAL! By refreshing the message and covering prime communication fields Dockside Green could once again stand out in the crowded “green” development market. The new message and advertising style will appeal to the target market on a emotional and rational basis. Alternative tool kit and media table: medium | Location | Schedule | reach | Cost | Direct selling | Show room on Wharf street | Operating hours. Monday- Sunday.Continuous | Community, visitors, potential buyers. | -Rent-Utilities-Employee wages-Up keep | Paid print | House and HomeReal estate publicationsVancouver SunAlberta TimesBCAA | continuous | Magazine readers | Unable to get quote | Paid radio | AM 730103.5, 102.3 102.5,AM 730, 101.1, 980 | Pulsing30 second adAiring during AM/PM rush hour. | Island and mainland Commuters | Unable to get quote | Public Relations | Invite various news stations to do stories on Dockside Green’s unique components and vision.“Back stage pass” idea… | “Flighting”Occasional reports during new hour. | British Columbians | Unable to get quote | Editorial interviews | Press releases Publications invited to review. | “Flighting”When articles air. | Local and global Magazine, news paper readers | Unable to get quote | Promotionspromotions | “Group-on” certificate to cafe.Potential buyers who have placed a deposit given one night at the Dockside hotel. | FlightingSpecific to occasion. | Oprah viewers. Internet users.Serious buyers | Free | You tube video(media) | Dry but humorous clips of residents (actors) confessing shock when utility bill arrives and it is only $12.60, for example.Could work with film and drama students from local universities. | Pulsing. New videos will be updated every 2-3 months. | Canadians are largest You Tube viewers in the world.Specifically gen X and late gen y. Those who are internet savvy and enjoy humour. | Time actorsFilming Editing | Billboards | Major BC AirportsBC ferries | Continuous | International and local travelers. | Unable to get quote | The advantages of this strategy are that it has a wide reach, a frequency that covers all prime audience times, differentiates from competitors, and is poised to reach wider audience as well as the target market. The disadvantages are that it will be costly, time consuming, require a create deal of planning, and has some reliance upon media coverage interest. Alternative 2: Previous Message, Updating Previous Strategy The previous IMC strategy garnered reasonable success through print advertising, website, and editorial media coverage. “Green” development was still young in the minds of potential buyers, which Dockside Green capitalized on. The previous strategies message focused on the benefits from Dockside Green’s technology and design. The paid print advertising was minimalistic in style using strange objects to catch eye of the reader. The message was very clear and displayed the economic, environmental, and social benefits gained from living at Dockside. At the time, Dockside was surrounded in positive media attention due being the first development to receive platinum LEED certification in North America. The economy was also booming, people had money to burn on prime real estate investments. Since this strategy was effective when Dockside Green was still unknown it could still create awareness effectively for Harmony. Eclipse Creative, who designed print ads for Synergy and Balance, would simply update the photos and facts on existing advertising. This would allow for easy brand recognition in the Real Estate arena. Medium | Location | Schedule | reach | Cost | Direct selling | Show room on Wharf street | Operating hours. Monday- Sunday.Continuous | Community, visitors, potential buyers. | -Rent-Utilities-Employee wages-Up keep | Paid print | Magazines, real estate publications, and local newspapers. | Continuous | Magazine readers | Unable to get quote | Outdoors | Outside of construction site. | 24/7 | Community, visitors, potential buyers | Unable to get quote | Editorial | New York Times and various other publications. | One time only. | Local and global News paper readers. | Unable to get quote | Internet | Website, Facebook, twitter | Continuous | Specific audience whom are interested in buying or gaining knowledge. | Free | The advantages of this strategy are that it has proven effectiveness, clearly communicates environment, economic, and social benefits, and requires little effort or time. The cost will also be no more than previously allocated. The disadvantage of using the green benefits as the key message is not as edgy or as appealing in today’s real estate market. Consumers will be less interested since have already seen similar advertisements, articles, and messages. Simply using traditional communication methods will not be enough to generate awareness, interest, desire, and action into the challenging economic circumstances. Alternative 3: A unique real estate IMC A unique IMC may be just the thing to counteract tough selling conditions. Edgy, fresh, poignant advertisements will communicate how the concept of environment, social, and economic harmony have been built in to Dockside Green’s newest building. They will emphasize a emotional excitement and lead viewers to feel a need to be part of it. The message tag line of will be “DSG3=Harmony” (Dockside Green 3 = Harmony). A glossy TV commercial will require most of the advertising budget. This commercial will be aired during the 6pm News hour on CTV, reaching a wide Canadian audience. Use of online communication tools will be maximized. By cross promoting with mutually beneficial institutions, Dockside Green could easily increase awareness and build a positive brand association. For example, Tourism Victoria, VanCity, and UVIC. Alternative 3 tool kit and media table: Medium | Location | Schedule | reach | Cost | Direct selling | Show room on Wharf street | Operating hours. Monday- Sunday.Continuous | Community, visitors, potential buyers. | -Rent-Utilities-Employee wages-Up keep | Cross Promotion | VANCITY,Rocky- Mountaineer,Lulu Lemon, Tourism Victoria, UVIC,Museum of British Columbia. | Would consist of point of place displays in establishments in exchange for reciprocal benefit. Business would be selected on basis of similar environment, economic, and social standings. Or Business that would mutually benefit. Displays would high light common goals and the good that Dockside Green is accomplishing. | Internet | BlogsPop upsFace BookTwitter House and home Real estate sitesYou tube videos. | Continuous | Tweens to net savvy baby boomers. | Unable to get quote | Promotions | Email VIP list are supplied with first information about sale releases. | Flighting | Very targeted audience.Requires members to visit site and sign up. | Free | TV | Television commercial on CTV. | Pre and post news hour. Flighting. | Canadian news viewing population | Rangers from $241,420- $425,325 for 30 second commercial | Social Media | Twitter | Continuous | Business people, real estate agents, developers, green enthusiasts | Free | The advantages are that it will appeal to environmentally passionate people. Home buyers spend a lot of time on the internet researching. People who are travel , shop at Lulu Lemon, bank at VanCity, and be a part of university culture are most likely to be interested in a sustainable development. The fresh approach to real estate marketing will create a stir and be noticeable to a wider audience. The disadvantage of using cross a television commercial is the cost of planning, filming, and airing. All which are very high. Barriers might be encountered in attempting to set up cross promotion activities. Existing customers of those establishments might feel infringed upon. Also, the benefits of real estate social media are yet to be proven. Baby Boomers are not commonly net or social media savvy. There is a possible gap in the delivery to Dockside Greens target audience and market. Objectives Short term: * Create awareness, interest, and action! * Make sales! * How many do we have to sell' Presale 22 units. * How long do we have to sell them' 6 months * Expand target market. Create a more powerful and differentiated brand equity Long term: * Create well known brand equity/ image (since project completion is in 2014) Solution After considering all of the elements to create an integrated marketing campaign, CPR Marketing recommends that Dockside Green use personal selling, traditional paid advertising, public relations, and promotional activities to communicate a refreshed message. This will allow Dockside Green to effectively convey Harmony’s unique selling proposition to their target audience. The new message “Your Utopia awaits at Victoria’s platinum address” speaks of the lifestyle, serenity, community, and prestige that life at Dockside Green will offer. Feasibility Dockside Green will allocate funds using the objective task method. The existing budget is $500 000. We were able to establish this budget because the $500 000 price point is the price for one unit. The chosen paid advertising tools are direct personal selling, radio, print, billboard, You Tube, and promotional activities. Dockside Green will also rely on their past relationships with print media publishers, for interest in covering Harmony. Dependencies The success of Dockside Green’s Harmony building depends on the promotion and advertising tools used. If the market does not respond positively to the new message, the pre sale quota may not be met within the six month dead line. Dockside Green is dependent on the fact that people are still interested in long term benefits from a “green” development. Consumers will need to hear a new message presented in a way that is appealing, unique, and clear. Benefits Harmony will satisfy the needs of consumers who seek to live in a community designed around environmental, social, and economic principles. High-tech features such as a sewage treatment plant, wood waste gasification, and double sealed common spaces, to name a few, will create thousands of dollars in savings for residents. Risks The largest risk is that we are basing our campaign on what people’s wants are and not what their needs are. People may not take to this idea and that will result with no sales in Harmony. Implementation Plan Product: Apartments in the newest Dockside Green building Harmony. The average unit is 1100 square foot and they are built to LEED specifications and are in the running to receive high honours. Place: Harmony is the most recent mid rise of Dockside Green. It is located in Dockside Wharf, the first phase of the fifteen acre development in Victoria, BC. Dockside Green has been developed to maximize the benefits of environmental technology and community. Price of Apartment: The average price of an apartment is from $500 to $900 per square foot. Cost of IMC Campaign: $500 000 is the budget for the refreshed IMC campaign and has been determined by the objective task method. Promotion: The mediums chosen for the new IMC campaign are direct selling, paid print, paid radio, public relations, editorial interviews, promotions, you tube video and billboards. IMC Campaign 1. Target Audience- We first determined what appealed to our target audience as well as our target market. We found that modern, sophistication, a need for community, style and ease were main attributes of our targets. Our target audience we found were to be individuals who see or hear traditional media. Mainly professionals, home buyers and as well as travelers. Our target market included the baby boomers, the gen. X’s and the late gen. Y’s. So in conclusion, our main age bracket would be 35-60 year olds. 2. Objectives- Our short term objectives are, Dockside Green wants to create awareness, interest, and action towards their new building Harmony. They want to increase sales and make a profit. Our short term goal is to pre sell 22 units (25% of total sales) in the time frame of 6 months. In order to do these sales figures, they need to expand their target market and create a more powerful and differentiated brand equity. They may also include a clause depending on the market value at that time. For example, if Dockside Green sells 22 units within a few weeks and the profit meets our wants and needs then we will increase the availability to 40% which is 35 units. The long term objectives is to create a well known brand equity and image, since the project will be completed in 2014. * The Budget- Dockside’s budget is estimated to be about $500,000 and this budget will allow them to be able to do a variety of advertisements. The average price for a 30 second commercial during Grey Anatomy is $240 462, which we have assumed that the target market watches this show. Also the cost for a commercial during Sunday night football is $434 792 for those of our target market that watch sports regularly. * The Message- Dockside Green’s unique selling proposition is to look at location, the lifestyle, the design, the quality and cost efficiency and the longevity of Harmony. Our message is “Your utopia” “Most Livable community” Victoria’s platinum address which will use both emotional and rational appeals towards our audience. For the emotional appeal, the message will show the serenity, an escape, the trendiness and a sense of community welcoming you at Harmony. We are also going to provide rational information on benefits from our green technology in the building, our award winning buildings, the quality of the building and as well as the geographical location. Our target market will interpret our message as the place to buy to escape from their everyday busy lives, the relaxation that Harmony will bring to their lives and the convenience of our building in the heart of Victoria. * Selected Media- Things Dockside Green will keep are the existing show room, the twitter account and their website (although colours for Harmony will be changed to green and Platinum). Some things they will be changing and adding will include a new and refreshed message to promote and advertise Harmony. Dockside Green will add public relations into their promoting tools because the use of reporting media to keep Dockside Green on minds of consumers will benefit and help promote and sell Harmony. Dockside Green will also use some non conventional real estate media to convey their message to their audience. Dockside Green will advertise in newspapers including the Vancouver Sun, Alberta Times, and House and Home. They will advertise Harmony on 103.5 FM, 96.7 FM, 102.5 FM and as well as 980 AM radio. Some promotions to help sell units in Harmony will be a Group-On certificate for their cafe and a potential buyer who has placed a deposit on a unit are given the chance to stay one night at the Dockside hotel. There will also be big billboards promoting Harmony’s pre sale at the major BC airports and BC ferries. 0 Communication- Dockside Green will update the design to “platinum and green” which symbolizes the prestige of location, the real credentials of LEED certification, and the environmental technology used. 1 Assess Impact- Dockside Green will asses sales results and compare them with the effectiveness of our previous campaign after the first 6 months. Then Dockside Green will re assess what needs to be done to continue the advertising of Harmony. TIMELINE: October 2010: * Produce the radio ads and YouTube video * Contact the pre-selected radio stations and book the required time slots November 2010: * Launch the radio ads * Launch the YouTube ads * Set up twitter for the Harmony building December 2010: * Concentrate on completing the showroom * Begin the groupon promotions January 2011: * Showroom completed! * Begin direct sales through the showroom * Launch the Newspaper ads * Launch the billboards in major BC airports and ferry terminals February 2011: * Gauging period to see how the target market has responded to the ads and promotions March 2011: * Make any tweaks to the promotions if needed, then intensify the promotions April 2011: * Harmony grand opening! * Begin full-blow direct sales phase May 2011: * See how sales are progressing and make any necessary changes if needed * Follow through on groupon promotions Groupon Ad Print Ad Online Newspaper Ad Post Card refrences * http://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf * http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/ * http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf * http://www.terrain.org/unsprawl/25/ * http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html * http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdfhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.htmlhttp://www.victoria.ca/cityhall/pdfs/currentprojects_dockside_sstnbl_rprt_2007.pdf   http://realestateinfo.propertiesinvictoria.com/victoria-bc-real-estate-market-conditions-beginning-to-improve/   http://www.shapeyourfuturevictoria.ca/wp-content/uploads/2010/01/ocp_fs_demographics-tomorrow.pdf   http://www.terrain.org/unsprawl/25/   http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html   http://docksidegreen.com/bottom/backgrounders/dockside-green-affordable-housing-fact-sheet.html * http://www.eclipsecreative.ca/advertising.php * http://www.progressive-economics.ca/2009/04/27/bc-recession-watch-2008-provincial-economic-accounts/ * http://www.journalofcommerce.com/article/id27327 * http://www.601herald.com/about/ * http:/ /www.ownerdirect.com/accommodation/victoria-bc/dockside-green * http://solartc.com/pdfs/Dockside_green_SustainabilityReport2007.pdf * http://docksidegreen.com/bottom/recent-releases/dockside-green-%96-the-picture-of-health.html * http://www.nytimes.com/2010/07/07/realestate/commercial/07victoria.html'_r=1 * http://static.howstuffworks.com/gif/5-green-future-cities-3.jpg * http://www.vancouversun.com/about-vancouver-sun/advertising/index.html * http://www.groupon.com/vancouver/ * http://tvbythenumbers.zap2it.com/2009/10/25/estimated-30-second-commercial-spot-costs-for-2009-2010/31476 * http:/www.the834.com/the_834_difference * http://terraverdeliving.com * http://www.condosvictoriabc.com * http://vibrantvictoria.ca/local-news/victoria-builder-recognized-by-popular-publications/ * http://www.durwest.com/projects.php'catid=2 * http://www.skyscraperpage.com * http://www.condo-living-west.com * http://www.youtube.com/watch'v=tLEN0nBbzS4&feature=player_embedded Course concepts Main concepts used: * Demographics segment * Marketing plan appendix; segmentation and target analysis * IMC planning process * Communication mediums * Reach * Frequency * IMC schedule * Target marketing