Market Research
Market research is a crucial first step in the strategic planning, campus development and repositioning processes. Our market assessment provides a basis for determining market needs and opportunities as well as the consumers’ ability to pay for services. Through consumer research, such as mail surveys and focus groups, we are able to obtain direct feedback and identify seniors’ preferences related to facility design, programs, amenities, and pricing.
Market Assessments
Comprehensive market assessments provide a basis for determining market needs and opportunities:
- Identify your primary market area
- Review the market area’s demographics and economic indicators
- Gain an in-depth understanding of your competition
- Calculate market penetration rates
- Determine market demand for independent living, assisted living,
memory care and nursing care - Identify opportunities for growth
Direct Consumer Research
Surveys and focus groups capture consumer preferences related to new
or expanded services:
- Identify primary, secondary and tertiary markets
- Create and implement project specific direct mail surveys
- Facilitate and conduct focus group sessions
- Provide summary of findings based on surveys and focus groups
- Develop lead lists based on consumer responses to information requests
Apples to Apples Pricing Analysis
Apples to Apples compares a community’s pricing to that of its competitors’ on an “apples-to-apples” basis.
- How your pricing compares by unit size/type to your competition?
- What is the “lifetime cost” of stay for a resident as compared to competitive communities based on the actual services/benefits offered?
- Do you compare favorably and are you able to create a selling advantage?
- How can this Apples to Apples analysis help educate consumers and staff about the real value of lifetime costs in YOUR community?