marketing process of promoting, selling, and distributing a product or service
TRANSCRIPT
RLI - AgriLand Brokerage and Marketing
8-2
ObjectivesObjectives
List the steps to identify the target market Explain the process for segmenting the
market Describe the elements to be included in a
formal presentation List ways to package a property Understand how to obtain financing
RLI - AgriLand Brokerage and Marketing
8-3
Identifying The Target MarketIdentifying The Target Market
Two stage effort Highest and best use identified Selection of target
individualssyndicates investorsdevelopers
RLI - AgriLand Brokerage and Marketing
8-4
The Segmented MarketThe Segmented Market
List of prospective, qualified buyers Other determinants
locationbuyer demographicsoverall market scale
RLI - AgriLand Brokerage and Marketing
8-5
Qualified BuyersQualified Buyers
Previous client contacts Fellow brokers
RLI - AgriLand Brokerage and Marketing
8-6
Group Activity 8-1Group Activity 8-1
Group Discussion 8-1: Targeting the market. Ask each student to devise a strategy for their firm as theyestablish the target market for a property. Each student in turnthen identifies and explains their first strategy. This discussioncontinues until strategies begin to repeat.
RLI - AgriLand Brokerage and Marketing
8-7
Selling The SellerSelling The Seller
Adopt seller’s point of view Contacts? Use firm that sold property Recommendations Reputation
RLI - AgriLand Brokerage and Marketing
8-8
Firm ImageFirm Image
Logos Signs Correspondence Internet presence Advertisements
RLI - AgriLand Brokerage and Marketing
8-9
Packaging The PropertyPackaging The Property
Property is available Why it should be considered
lowest pricelargest / smallestclosestmost quiet / picturesqueutilities
RLI - AgriLand Brokerage and Marketing
8-10
Marketing CampaignMarketing Campaign
Signs on property Newspaper / publication advertisements Direct mail Website MLS Radio / TV
RLI - AgriLand Brokerage and Marketing
8-12
Formal PresentationFormal Presentation
Physicallocation soilsdrainagetopographyimprovementsaccess (transportation and utilities)
RLI - AgriLand Brokerage and Marketing
8-13
Formal PresentationFormal Presentation Economic
pricetermstaxesyields (crop base)local marketscomparable salesprojected incomeactual operating figures
RLI - AgriLand Brokerage and Marketing
8-14
Formal PresentationFormal Presentation Legal matters
legal descriptionname of ownerencumbranceszoning water and mineral rightsdate of possessioneasementspermitted uses
RLI - AgriLand Brokerage and Marketing
8-15
Formal PresentationFormal Presentation
Socialschoolsfire protectionlaw enforcement
RLI - AgriLand Brokerage and Marketing
8-16
ContentsContents
Table of contents Listing of major property factors Description and price Analysis of land and improvements Income analysis Location analysis Statement of limiting conditions
RLI - AgriLand Brokerage and Marketing
8-17
Brochure and Advertising Brochure and Advertising
Brochure — Summarizes formal presentation
Advertising institutionalfirm nameproperty
RLI - AgriLand Brokerage and Marketing
8-18
Property AdvertisingProperty Advertising
Signs Letters Newspapers and other publications Electronic media (no spam)
RLI - AgriLand Brokerage and Marketing
8-19
Securing FinancingSecuring Financing
SourcesFarm Credit System (FLCAs, ACAs, etc)sellerscommercial bankslife insurance companies
RLI - AgriLand Brokerage and Marketing
8-20
Module 8 ReviewModule 8 Review
List steps to identify lawful target market
property analysisselect target buyer
RLI - AgriLand Brokerage and Marketing
8-21
Module 8 Review Module 8 Review
Explain process for segmenting the market
geographicdemographicscale
RLI - AgriLand Brokerage and Marketing
8-22
Module 8 Review Module 8 Review
Describe the elements to be included in the formal presentation
attractive photosphysical economiclegalsocial
RLI - AgriLand Brokerage and Marketing
8-23
Module 8 Review Module 8 Review
List several ways to package propertyformal presentationbrochureadvertising
Advertisinginstitutional, firm name, and property
RLI - AgriLand Brokerage and Marketing
8-24
Module 8 Review Module 8 Review
How to obtain financingFarm Credit Systemsellerscommercial bankslife insurance companies
RLI - AgriLand Brokerage and Marketing
8-25
Self Assessment Questions Self Assessment Questions The two stages of marketing are. Which is an item contributing to firm’s image. The three types of advertising are. Physical data about the property includes what. Sources of farm and ranch loans. What is an ACA.