Property Marketing

Property Marketing

Type of document       Term Paper

Number of pages         2 -Double Spaced

Subject area     Marketing

Academic Level          Undergraduate

Style    Harvard

Number of sources      3

Order description:

Basically this assignment can be completed with:

  • 2 x Excel spreadsheets with annotated notes in the document or 1-2 pages maximum of explanatory notes to go with the spreadsheets – it is not a long report.

Your two spreadsheets should clearly indicate:

ONE) a timeline/Gant Chart or similar presentation which clearly relates the development timeline (from site identification, purchase, planning through construction etc. ) and an associated promotional activity (buyer behavior) timeline (using AIDA or the AICIENP model provided in Module 9) and clearly shows when each proposed promotional activity will occur.

(IT IS ESSENTIAL THAT Your notes or annotation(s) should briefly explain why the promotional activity has been selected and why it occurs when it does.)

I discussed examples of this today, so

  • if targeting off-plan international investors you will need to focus on virtual promotional activities very early on in the promotion timeline.
  • if targeting local elderly empty nesters you would need to focus on tangible promotional activities, such as a show suite much later on in the promotion timeline.

Also maximize events that occur in your development timeline:

So, for example, I spoke today about the PR opportunities of getting planning permission or a first dig or ‘topping out’ ceremony. A good PR person can get free local, even regional newspaper coverage for nothing – many line inches that would cost many 1000’s of AUD$ if in the form of a paid for advertisement.

TWO) a fully costed budget of your promotional activities.

First you need to establish your global marketing budget for both agency fees and pro motional tools and objects. This is typically a % of development costs (around 5%-7%) or value (around 2-3%) but it varies depending upon the scale and complexity of the scheme.

Second you need to spread that budget both across your timeline and between activities.

To get a D or HD You MUST demonstrate that your marketing plan and budget items:

  1. a) give value for money for your client
  2. b) provide the most effective and efficient distribution of your budget
  3. c) ensure that the activities are distributed at the right place in your promotional plan
  4. d) are consistent with the identified target market
  5. e) are timed to be consistent with the target markets buyer behavior readiness and profile (see the buyer behavior summary in Module 9)

f) perhaps MOST IMPORTANT of all – your costs are realistic and accurate based on primary research – I have given you generic examples of costs in Module 9 for some promotional activities: but you really need to find accurate costs for YOUR development in YOUR site location.