Estate Agency Industry Marketing Analysis

The assignment requires a comprehensive analysis of the estate agency industry, including its marketing mix, SWOT analysis, and STP model. The industry has segmented the market based on demographics, psycho-graphics, and targeting high-income individuals with business or professional occupations. The STP model is used to segment, target, and position customers effectively. A SWOT analysis helps identify strengths, weaknesses, opportunities, and threats in the competitive market. By understanding these aspects, the estate agency industry can make informed decisions to maximize profits and sustainability.

Principle of Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
1) 4P's of Marketing Mix............................................................................................................1
2) SWOT Analysis......................................................................................................................2
3) Marketing Strategy.................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES ...............................................................................................................................4
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INTRODUCTION
Marketing is the process of management and study of exchange relationship in order to
satisfy need, want of customers (Armstrong and et. al., 2014). It is process of communicating,
exchanging, creating and delivering offering to clients, society, customers and partners. The
given assignment is based on Estate Agency Industry which is going to develop new application
that is point and know for selling house to the people who want it. This assignment will discuss
4P's of marketing, SWOT analysis and marketing strategy of Estate Agency Industry .
1) 4P's of Marketing Mix
Marketing mix is a decision tool that should be taken before launching new product in
market. It is also known as 4 P's of marketing which helps in running a business smoothly and
assist in taking strategic decisions. The marketing mix of Estate Agency Industry is described
below:
Product- It can be tangible good as well as intangible service which fulfils need and
want of customers. The main product and service of this company is app as Point and Know
which is proving service for selling house that contain information related with number of
rooms, price and location of house.
Price- It is the amount which customer pay for purchasing the goods and service. The
different pricing strategies can be used by several organisations such as premium, competitive
and customer based. The Estate Agency Industry has focused on neutral pricing strategy because
it is providing free installation of application to the customer. As it is charging money from other
company to promote their products and services. The consumer does not have to go here and
there, with in a single click from mobile application they can view various house and book best
one.
Place- Place is defined as distribution channel of any products or services. Estate Agency
Industry sell their product through help of internet media. In this it can provide advertising of
app on social media to create huge awareness as most of people are connected through internet
source (Armstrong and et. al., 2015).
Promotion- Promotion is the tool which helps in creating awareness about brand and
product for customers. There are different elements used for promoting products such as public
relations, sales promotion, sales organisation and advertising. Estate Agency Industry can adopt
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advertising promotional tool in order to create awareness among customers. Most of the people
go through newspaper, watch television which easily catch attention of people. This media
channel can helps a lot to company.
2) SWOT Analysis
SWOT analysis is tool used for making strategic planning in an organisation. This helps
entity to find opportunities for success that were unarticulated and highlighting threats before
they become over burdensome. It is classified into internal (strengths & weaknesses) and
external (opportunities & threats). The SWOT analysis of Estate Agency Industry is described
below:
Strengths Weaknesses
 Estate Agency Industry charges price
from other company to promote their
goods and services which is strength
for firm to earn amount through those
advertising.
 It possess trained, skilled staff for
managing application and solving
queries of people for helping them to
make best decisions regarding purchase
of property (Issa and Turk, 2012).
 The promotional tool used by Estate
Agency Industry is not sufficient to
create huge attention of people.
 As it has focused on profit based
strategy which covers high income
group that denotes low customer
relationship with other people.
 There are lots of formalities which need
to be done before taking ownership of
property which is not afforded by every
individual.
Opportunities Threats
 In order to gain attention of large group
of people organisation requires to be
focused on improving promotional
tools approaches for getting better
results.
 Estate Agency Industry should
maintain better relationship with low
income group people for surviving in
 During period of recession, profits of
entity become slowdown which can be
a biggest threat for organisation.
 The prices of property changes due to
seasonal demand. This create sometime
low profit and sometime high profits
which is also threat for business.
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market for a long run.
 As global demand for real estate is high
and strong which leads rapid growth of
business. This helps in diversifying into
other sectors through earned profits.
 The biggest threat for Estate Agency
Industry is competitive party charging
low prices for property.
3) Marketing Strategy
Marketing strategy is the forward looking, long term approach to planning for achieving
sustainable competitive advantage. It is overall plan for reaching to people and making them
customers of good and service which business provides. The marketing strategy of Estate
Agency Industry is STP which focuses on commercial effectiveness, selecting segment,
developing marketing mix and positioning strategy for each segment. It is explained below:
Segmentation- It is identifying need and want of customer and segmenting market.
Estate Agency Industry has segmented market on basis of following:
 Demographics- Estate Agency Industry has divided market on basis of age,
income, profession and others (Brassington and Pettitt, 2013). Example, age
group between 25 to 60 are more connected through mobile phones and
application which helps better running of business.
 Psycho-graphics- Estate Agency Industry has classified market on basis of
attitudes, lifestyle, personality and others to provide property. Example, people
having good lifestyle prefer to purchase high value house for maintaining their
standard and living (Rezai, Mohamed and Nasir Shamsudin, 2012).
Targeting- It is the way of evaluating and selecting target segment. Here, Estate Agency
Industry has focus on high income of people having occupation of business and profession. The
age group is between 25 to 60 having good position and status in market. As low income group
of people cannot afford to purchase high value of property. Also it has adopted profitable based
strategy from selling of houses to target customers.
Positioning- It is the way of reaching products and services to target customers. This can
be done with help of effective promotional tools such as advertising, relationship with individual.
As Estate Agency Industry has high band value and image in real estate market which has
already gain attention of customers through launching of new application.
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CONCLUSION
From above report it can be summarised that Estate Agency Industry has to do marketing
mix before launching its new application in market. This helps in knowing about product, price,
place and promotional tools used by organisation for gaining attention of people. SWOT analysis
helps in knowing about strengths and weakness of entity and opportunities and threats which can
be occurred in competitive market. This helps Estate Agency Industry to make better decision in
order to earn maximum profits and sustainability. It is necessary to do STP in order to segment
and target customers and accordingly provide them goods and services to fulfils their
requirements.
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REFERENCES
Books and Journal
Armstrong, G., and et. al., 2014. Principles of marketing. Pearson Australia.
Armstrong, G., and et. al., 2015. Marketing: an introduction.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
Issa, T. and Turk, A., 2012. Applying usability and HCI principles in developing marketing
websites. International Journal of Computer Information Systems and Industrial
Management Applications. 4.pp.76-82.
Rezai, G., Mohamed, Z. and Nasir Shamsudin, M., 2012. Non-Muslim consumers' understanding
of Halal principles in Malaysia. Journal of Islamic Marketing. 3(1).pp.35-46.
Online
The STP Model of Marketing Segmentation, Targeting, and Positioning. 2018. [Online].
Available through: <https://devrix.com/tutorial/stp-model-of-marketing-segmentation-
targeting-positioning/>.
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