TULSAS CENTRAL BUSINESS DISTRICT (A)

DEVELOPING A RESEARCH PROPOSAL By: Group 10

CENTRAL BUSINESS DISTRICT

A Central Business District (CBD) is the commercial and often geographic heart of a city A central district of a city, usually typified by a concentration of retail and office buildings

In United States, this part of a city is commonly referred to as downtown or city center
Examples:

Midtown Manhattan, New York City

Canary Wharf, London

Santa Fe, CBD of Mexico City Nariman Point, CBD of Mumbai

TULSA

Held nickname Oil Capital of the World Second-largest city in Oklahoma

46th-largest city in the US.

Population of 393,987 (2012 US Census estimate) Downtown Tulsa is an area of 1.4 square miles (3.6 km2)

TULSA Central Pedestrian Mall System

Construction had begun on a $2.6 million Central Pedestrian Mall System Strengthen the Main Street segment as the prime rental area in downtown Tulsa

Project Details

Improving Main Street from Third to Sixth Streets & Fifth Street from Boston to Denver Landscaping Multi- Level fountain at Fifth and Main

Brick paving

Williams is one of the largest providers of energy infrastructure in North America. Our businesses are interstate natural gas pipelines; midstream gathering and processing; natural gas and natural gas liquids transportation and olefins production. Official Website About Williams Co.:

Founded by brothers David R. Williams and S. Miller Williams Jr.

Successor to an oil related business established in 1908 Incorporated on February 3,1949 as the William Brothers Company Headquarters at Tulsa, Oklahoma Current employees : 4,700 Name synonymous with pipelines after companys first pipeline venture in 1915 Consisted of founding organization, Williams Pipeline, Williams Energy, Williams Exploration Company, Agrico Fertilizer Company & Williams Realty

Bank Of Oklahoma (BOK) Tower (Existing)

Formerly known as One Williams Centre At 203 m (667 ft) in height, the 52-story tower was the tallest building in any of the five "Plains States": Oklahoma, Kansas, Nebraska, North Dakota, and South Dakota The 52 story BOK Tower, was the focal point of the new Tulsa Skyline

Constructed by Williams Co. for $ 18 million and was one of the first of several Williams Centre Projects to be completed
Was the States Tallest building

The office space was about to be leased

The Williams Centre (Proposed)

The Williams Centre

Located in the heart of downtown Tulsa, Oklahoma Planned as a $ 50 million complex

Consisting a 50 storey building, a hotel, a shopping centre & a performing arts centre
25,000 sq ft. dedicated to food service establishments Cafeteria & fast food places on 1st floor

On 2nd floor a restaurant overlooking the skating rink from the west end
First rate restaurant on the 3rd or plaza level Consists of Tulsa Performing Arts Center, the Tulsa Convention Center, and the BOK Center In addition to casual shoppers, retail area expected to draw 7000 persons employed in the BOK Tower and 500 guests of the hotel

Requirement of Market Research

Most major investments made in last few years based upon only intuitive feelings about CBD Lack of information hampering industrial decision making and commercial marketing efforts Many downtown firms might be interested in the type of information Williams Companies desired Less/Unavailable information about
1. 2. 3.

Quantity and nature of downtown population Commercial enterprise (and vacancy) inventory Business options about CBD

4.

Shoppers opinion about CBD

Chamber Of Commerces Point of View

To conduct survey of the Central Business Districts employers and employees . Their characteristics, work habits and attitudes

Survey of commercial establishments and off-street parking facilities (type, size and location)
Survey of commercial vacancies concentrating on G. Floor with some consideration to Multi Storey commercial buildings Conduct on the street sample survey of shopping attitudes and preferences. Addressing attitudes towards working and living downtown

Analysis

Classification of the Target groups not done for different businesses

Vague survey methods

No focus on consumers buying power No analysis on transportation modes towards shopping centre

No information acquired on competitiveness of the market

No focus on secondary data analysis

7 Steps of Market Research Process

Identify specific problems Set Certain Research Objectives Design Questionnaire Collect Data Analyze and Interpret Findings Report on Research Findings Formulate Specific Strategies/ Rectify Problems

Shopping Centre Lifecycle

Steps for doing a Market Research

Budgeting for research

Initial Assessment Market Assessment/Strategic Review Consumer Market Testing ( Qualitative) Consumer Market Testing ( Quantitative)

Initial Assessment

Determine the potential market size and characteristics

Understand current and potential market demographics

Assess competition, both existing and proposed Analyze site potential for remix, reconfiguration and/or development

Market Assessment/Strategic Review

It will include the following points:

Location and Composition Trade Area Analysis

Trade Area Demographics

Modes of Public Transport : Reillys Law Retail Spending ,frequency and Potential Competition Review Proposed Competitive Developments Sales Performance and Potential Occupancy Cost Performance Market Share Analysis and Potential SWOT Analysis Future Development/Potential Outlook

Consumer Market Testing

QUALITATIVE

QUANTITATIVE

Focus group discussion/Interviews

After qualitative research & master plan has been tested More specific details of the development and retail plan are quantitatively tested Usually involves either conducting a telephone survey or face-to-face survey More technical & specific with statistical rigor

Consumers Voice for their need

Test or align the master plan with consumers need economics

Data Collection Techniques

THANK YOU!