real_ estate - marketing (1).pdf

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Bibliography

Our acknowledgement and gratitude to the following authors

Strategic brand management by Kapferer

Marketing Management by Philip Kotler

No money marketing by Jessie Paul

Service Quality by Parasuraman Services marketing by Valarie A Zeithaml et al

Technologys Impact on the Gaps Model of Service Quality by Mary Jo Bitner,

Valarie A Zeithaml, Dwayne D. Gremler

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Real Estate Market

2

Property

Office Residential Retail Mixed Use Others

OperationalAsset

UpcomingAsset

Others includes Hospitality, Education etc


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Lifetime Value of a customer

YEAR

1 2 3 4 5

Acquisition cost

Cost of sale

Handholding

BASE PROFIT

REVENUE GROWTH

COST SAVINGS

REFERRALS

PRICE PREMIUM

Dependencies:

-No. of years association

-Cross/Up sell opportunities

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Marketing

"Marketing is not the art of finding clever ways to

dispose of what you make. It is the art of creating

genuine customer value."

Philip Kotler

Business has two functions: marketing and innovation

The aim of marketing is to know and understand thecustomer so well the product or service fits him and sells

itself

Peter Drucker

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Traditional 4Ps of Marketing

Channel

Logistics

Distribution

Ads

PR

WoM

Price

Offers

T & Cs

Features

Functionality

Packaging

Services

Product Price

PlacePromotion

Satisfying

customers

needs or

wants

Channels,distribution

(intensive,

selective,

exclusive,

franchising)

Profitability,

Elasticity,

Market

environment,

Brand,

Pricingstrategies

Unified and

consistent

communication

Target

Market

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7 Ps of Real Estate

Project Drivers

Product Product relates to real estate

investment options that could

be of two types land orproperty.

Place The three most important

things to consider in real estateare location, location andlocation!

Price You make money when you

buy real estate, not when yousell.

Market Levers

Positioning

Positioning is vital in creatingan identity in the minds of

target consumers of the realestate

Packaging

Packaging refers to the deliveryof a finished product.

Promotion Promotion is communication

between sellers and buyers of aparticular real estate project.

6People :Identifying key consumers, partnersand investment mana ers


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New age perspective to 4P model

Product

Price

Place

Promotion

Consumer

Communication

Cost

Convenience

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Total Marketing

INTERNAL/EXTERNAL

OPERATIONS(Delivery /

Manufacturing, R&D)

CUSTOMERS

COMPANY

Management

3.

Delivering the promise

Interactive8


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Real Estate Marketing Successes Most Common :Free ABC,XYZ, Discount %

2nd Most Common :prelaunch prices, white goods, wardrobes and kitchen

cabinets, flexible payment schemes

Purvankara :Pay 20% Now and Balance when you move in. (Timeliness &

Transparency)

Hiranandani Constructions, a group that is known for developing of mini

townships

Godrej : Most Trusted Name. Green, Clean and Transparent.

Discount on Home Loan Percentages

Skywood : Pet Corner Theme

Referral Marketing :The two major aspects of referral marketing includeletting clients know to refer you to others and giving them a reason to

refer you

Purva Connect Events for Existing Customers

Ashiana_Utsav Bhiwadi- Trial Living to know Community and the Facilities.

Century Provide Value to lifestyle. Complimentary modular kitchens tokeyless entry

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Real Estate Product or Service?

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Products vs Services

Products

Tangible

Standardized

Production separate from

consumption

Non Perishable

Services

Intangible

Heterogeneous

Simultaneous Production

and consumption

Perishable

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Services Marketing Gap model

Service delivery and Process

design

Management understanding

of customer expectations

Perceived service experience

Service delivery

Customers service

expectation

1. Listening gap

2. Service design & Standards gap

External communication

to the customer

3. Performance Gap

Customer

Supplier

4.Comm

unicationgap

5. Customer gap

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Service Quality

Service

Quality

ReliabilityResponsi

veness

Tangibles Assurance

Empathy

Ability to perform thepromised service

dependably and

accurately

Appearance of

Physical facilities,

equipment,personnel, and

communication

materials

Willingness to help

customers and

provide prompt

service

Caring, individualized

attention the firm

provides its

customers

Knowledge and

courtesy of

employees and

their ability to

inspire trust

and confidence

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