CASE STUDY
The real estate sector in India is one of the sectors recognized worldwide. In the country, it is the second largest employer after agriculture and is expected to grow by 30 percent over the next decade. It consists of four sub-sectors - residential, retail, catering and advertising. The growth of this sector is well complemented by the growth of corporate environment and demand for office space, as well as the urban and semi-urban housing. According to a study by ICRA, construction third ranked among the 14 most important sectors in terms of direct, indirect and induced in all areas of business purposes. It is also expected to emerge from this more non-resident sectors (NRI) Indian investments in the near future, according to a
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Marketing in a way that its competitors is the most important in obtaining sales factor. We can not say how many riders lose a sale to another vendor marketing exactly the same as it does. If you keep doing the same techniques of real estate marketing and again, you want the same results that will be achieved. What are the six P's of marketing real estate?
(i) Positive attitude - Seller make sure you know how excited you are about to sell your home. Enthusiasm is contagious and they will be more inclined to accept its recommendations if exuberate be positive. It is important to remember that most people, people who exude confidence, optimism and openness attracted. This will play an important role in attracting new business.
(ii) Promoting - There are several ways to promote offers and sales of real estate. Chances are that you will be marketing to people in your sphere of influence (SOI). Their sphere of influence includes, but is not limited to current and past customers, organizations, other agents, brokers and network groups, MLS, etc. Another effective promotional tool is the use of a pre-list will be discussed later in this
Kotler and Keller (2014) develop on what product represents in the marketing mix, as the idea centers around its design, quality and packaging. Continuing with the Four P model, price should be considered when marketing a product. The price component asks one to determine the list price, discounts, allowances, and payment period of a product (Kotler & Keller, 2014). Finally, Kotler and Keller (2014) list promotion and place as the final two variables associated with the older Four Ps. Promotion deals with how a product is advertised and what type of sales force will be utilized, while place is associated with the channels and locations for which your product will be featured (Kotler & Keller,
An agent must be able to apply effective marketing principles. The “Four P’s” of marketing are:
"Real Estate Agents and Brokers." Encyclopedia of Careers and Vocational Guidance. 15th ed. Vol. 5. Chicago: Ferguson's, 2010. 235-44. Print. Ferguson's.
Home sellers typically face the problems of planning a strategy and getting ready for sale. Real estate professionals with their immense experience in the industry are the ideal solution to these problems.
Experience counts. Though a new real estate agent will be energetic and extra-cautious about meeting your requirements, a certain amount of experience in helps in overcoming common challenges encountered in this field. However, at times spending many years in this field doesn’t equate to high-class expertise. Asking this question will help you understand the academic and professional background of the
Marketing is very important to the success of a business. Before people can buy a product or service they have to know about it. However, marketing entails more than just letting people know what your company has to offer. Throughout this paper, I will define marketing, offering my personal definition as well as more formal definitions from other sources. Furthermore, I will explain to the reader the importance of marketing to organizational success giving real world examples in support of this explanation. The field of marketing can include many things. I believe, however, the most important thing which it should include is communication with customers as to the value and benefits of using that particular company's products and services. It should help to establish the business's niche in the industry and distinguish it from other such businesses.
It is a well-known fact that marketing is a way to get the business off the ground. Without marketing, then no one will know about the goods and services a brand is selling. “Good marketing makes the company look smart. Great marketing makes the customer feel smart.” (Chernov).
S&L industry swelled, underwriting standards loosened, and uncertainty about the underlying value of real estate assets permeated (ring a bell?)
Armstrong G. & Kotler P. (2007) Marketing: An Introduction 8E Upper Saddle River, NJ Pearson Prentice Hall Publishers
Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental building block for business growth. A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research. In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. The marketing mix is normally described as the strategic positioning of a product or service in the marketplace, using the specification of the four Ps. During the early 1960’s, Professor E. Jerome McCarthy of Harvard Business School stated that a marketing mix contains four elements. The four key points are product, pricing, promotion, and placement. It is recognized that all these aspects must be present to ensure a successful business model within a given industry. We will now take a thorough look at the four marketing mix points.
In this paper I will define marketing in my own words and also research what the definition is using two different sources. While supporting my answers with three examples from the business world, I will show the importance of marketing. Marketing applies to many different areas of an organization and after close review I will make it clear on how it relates.
It is not secret that marketing plays one of the key roles of a successful business. As Phillip Kotler said: “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential”. Simply stated, marketing is everything you do to place your product or service in the hands of a potential customer.
In all reality, all businesses will, in some way shape or form, complete all of the marketing activities, even if completing these activities is not their main goal. (Dlabay 2006.) These marketing activities are product, place, price, and promotion. A business tool called that marketing mix takes all of these activities and puts them together in a way that can be used to help improve a business’s marketing strategy. Product is what the company is selling; Place is where the consumer will obtain this product; Price is what the consumer will pay for the product; Promotion is any type of communication that is intended to remind, inform, or persuade. (Dlabay 2006.) The marketing mix and the four P’s describe very well what business marketing is all about.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.
According to this, it is obvious that the objective of marketing is to satisfy demand of customers by those ‘individual and organizational activities’ like promotion or pricing of goods, which are all just means to achieve that. Additionally, organizations could stand out from their competitors once they meet the needs of customers better than others. Thus, it can be said that the successful marketing is to provide competitive advantages for organizations by doing better in satisfying customers’ desires through products and other marketing activities.