Product Segmentation

Universal Homes understands that it is rare for home buyers to buy a home and stay there for the rest of their lives.  It is most common that as individual needs change through life experiences, people are more inclined to sell their existing home and move into a home that satisfies their current needs.   Over the years, Universal Homes has defined a number of housing types.  Each of these housing types is driven by a market segment desiring to fulfill specific requirements. 

The Company has defined four specific target markets.  These markets inherently define their own price range and product style.  Each segment of customers has particular financial constraints, space requirements, option desires, and location preferences.

First Time Single Family Buyers – This group is populated by younger buyers that are able to make a home purchase which is a step above the markets least expensive housing type which is typically an apartment.  Buyers in this group are likely to have children at a later date and greater achievement motivation.

Premium Move-Up Home Buyers – This group generally consists of buyers searching for their second or third family home.  These buyers demand more space along with quality and style. 

Move-Down Buyers – This segment is often referred to as the “empty nester” group.  Generally they are married couples with adult children, are at or near the end of their career, and have high incomes and/or savings.  They are accustomed to having a larger home, but no longer require the extra space.  They may be purchasing a second home for part time residency and are concerned with resale value.  They want space, quality, style, amenities and attractive neighborhoods.

Attached Product Home Buyers – This segment of the market is generally looking for a life of simplicity and convenience.   This segment of the market is made up of double income first time buyers, part time residency, empty nesters and single/divorced individuals. These buyers are not interested in maintaining the exterior appearance.  They are more interested in the ability to carry on their lives without the burdens of full homeownership, maintenance and operation.

While there are a number of additional housing types and styles, Universal Homes has focused its home building on these described market segments.  With the needs and desires of Universal’s target market defined, Universal is able to design homes in neighborhoods that appeal to each market segment.  The combination of product design, construction strategies, and location provide Universal’s customer with a home suited to his/her lifestyle.