Analysis of Market Gaps in Australia for Houses - myassignmenthelp

Question: Discuss about theAnalysis of Market Gaps in Australia for Tiny Houses. Answer: Unmet customers need, or a group of potential customers is what defines a market gap or opportunities. Tiny houses is an Australian company that offers small homes for the people who desire to live with simplicity and economical kind of life considering their low income. The company can derive different opportunities in Australia to strengthen and enhance the companys growth. The following is a critical analysis in Australia about house provision opportunities. The companys marketing niche should be influenced by such factors as the customer's income level, their preferences and the age group. In Australia, relevant studies as noted by Martin and Troy (2017) shows that most of the people living in the urban centres are complaining because of high rates of rent. In Sydney, for example, most of the people earn an average income. Due to this factor, most of them can only afford average rent. The study continues to shows that the problem of unaffordable rent is too deep and widely spread in Melbourne and Brisbane. The study also claims that there are few housing units in those capitals (Martin and Troy, 2017). The tiny house company can use these gaps to their advantage and build more homes in these towns and charge affordable rates. The company should also consider building spacious houses which even a single parent living with their children can occupy and still afford to pay the rent. Tamara, a single parent from Sydney, narrates her struggl e in paying rent considering her low income of 50000$ where she spends almost half of it in paying rent. This is despite the fact that her house is the cheapest in the area where she resides (Taylor, 2017). This research connotes various opportunities for any company that can build many spacious and affordable. To this extent, therefore, Tiny house company have been favoured by the underlying factors. There is another group of people who have been affected by housing issues. This group comprises of university and college students. The houses that have been built near universities and colleges are not only a few, but they are also expensive. Because the students are not earning, it has become a challenge to them to access affordable housing. The students who are in their thousands are yearning for some cheap and affordable houses. Tiny housing company should utilize this opportunity by building additional but affordable houses near the institutions of higher learning to bridge the existing gap (Butler, 2017). This could also attract both the teaching and non-teaching staff to rent houses near their place of work. In addition to the already discussed opportunities, there is another factor of crowding. It is evident that in Australia, the areas perceived to have affordable houses are overcrowded. This has a direct correlation with health complication due to the unhealthy conditions associated with overcrowding. If more affordable houses are built, most people are willing to relocate from the crowded areas to avert the health complications and ease congestion (Anderson el., 2017. This gives the tiny housing company an opportunity to invest and utilize the market gap in Australia. The company should consider providing residing environments which are not overcrowded, in good living conditions and provide affordable housing units. The opportunities in the Australian housing market is mostly brought about by the high rates of rent as compared to low income earned by the people. There are also few houses that are available near the workplaces. Additionally, the difficulties brought about by inaccessibility of school from home and also the poor condition of the cheap apartments. The company can exploit all these opportunities to expand their market and grow their business. References Andersen, M. J., Williamson, A. B., Fernando, P., Wright, D., Redman, S. (2018). Housing conditions of urban households with Aboriginal children in NSW Australia: tenure type matters.BMC public health,18 (1), 7 Available at https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5540447/ (Accessed April 22, 2018) Butler, J., (May 17, 2017). Even average Austrians are being priced out of Austrians cities. HuffPost. Available at: https://www.huffingtonpost.com.au/2017/05/16/even-average-families-are-being-priced-out-of-australias-cities_a_22094450/ (Accessed April 22, 2018) Martin, C., Troy, L., (May 17, 2017). Two pictures of rental housing stress and vulnerability zero in our area of need. The Conversation. Available at: https://theconversation.com/two-pictures-of-rental-housing-stress-and-vulnerability-zero-in-on-areas-of-need-77714 (Accessed April 22, 2018) Taylor, A., (November 28, 2017). Sydney renters continue to feel the pain of property market. The Sydney, morning herald. Available at: https://www.smh.com.au/business/companies/sydney-renters-continue-to-feel-the-pain-of-property-market-20171128-gzue0r.html (Accessed April 22, 2018)