Abstract
Recovery from economic downturn caused by COVID-19 is still considered slow, despite of all the hard work from private sector and stimuluses being issued by central government. Futura Land as one of real estate developer, is not an exception. Facing the fierce competition and challenges in the future, the Company needs to assess and enhanced business strategy in order to prepare for the future of property market and adapt with the possibility of COVID-19 being an endemic. This research wants to uncover the reason of unrecovered sales performance, the effect of several government initiatives on property market and also recommend business strategy including the implementation plan for the Company. This research used qualitative methodology by utilizing both primary and secondary data. Based on data analysis, the root of problem is coming from lack of evaluation system in the Company, low brand awareness among potential customer, low initiatives from sales person, low level of product development and collaboration. From external point of view, low purchasing power caused by endless case of COVID-19 new variant has brought a huge influence of the unrecovered sales performance. In addition, the stimuluses in property market is issued by government a year after the pandemic taken its toll. To win competition and grow further, the Company should increase and shifting their marketing communication activities to online platform while revisit the content of marketing materials, develop product development team to bolster the current product design, intensify the role of banks relationship officer in order to help customer eligible for their mortgage financing and bringing wide variety of banks to propose their financing to. Last, the Company should start develop an enhanced and structured evaluation system within the Company to review the effectiveness and continuity of any program being proposed to the management.
Highlights
The strength of the Company is highly related with spacious land bank ownership in Makassar area, which is supported by its strategic location since it was near airport and sea port. While those two strength were highly related with the tangible resources of the Company, the other strength is coming from strong commitment and ability to deliver high quality product to the customer timely along with lean strategic management structure which enables certain level of flexibility and faster decision making
Building and reinforcing brand awareness is the biggest challenge ever faced by the Company and the Company still striving to overcome this challenge
Conclusions According to the data, potential customer has shift their preference from using direct observation method to using property search engine and social media as their main resource of doing property research
Summary
Central Bureau of Statistic (BPS) conducted annual National Socioeconomic Survey (SUSENAS) to solicit the massive social population data related to several strategic field such as education, health, housing and other socioeconomic activities. The proper and affordable housing mentioned in the survey is indicated by several criteria as determined by BPS which are (1) had sufficient living space of 7.2 m2 per capita, (2) had access to clean water to supply, (3) had access to proper sanitation, and (4) durable housing with sturdy and solid materials. This data has brought us to the realization of huge gap between total population and it needs for safe shelter with the access to proper and affordable housing. Real estate developers are mostly private owned and motivated to serve the needs of middle up customer since it brings more financial benefit
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