Real Estate: Developing a Strategic Marketing Plan

This article provides a comprehensive guide on developing a strategic marketing plan for a real estate business. It covers topics such as establishing a personal brand, identifying target clients, creating a marketing plan, and legal and management issues. The article also includes a budget plan for success.

Running head: REAL ESTATE
Real Estate
Name of Student
Name of University
Author Note

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REAL ESTATE
Table of Contents
Introduction................................................................................................................................2
Establishing personal brand.......................................................................................................2
Positioning strategies..............................................................................................................2
Getting to know the market....................................................................................................3
Identifying target clients and customers.................................................................................4
Retailing clients and customers..............................................................................................5
Developing a marketing plan.....................................................................................................5
Plan for success......................................................................................................................5
Plan for personal budget.........................................................................................................6
Legal and management issues................................................................................................9
Developing and using promotional material..........................................................................9
Analysing results of promotional activities..........................................................................10
Conclusion................................................................................................................................11
Bibliography.............................................................................................................................12

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Introduction
Strategic positions are important for the development of a company as it defines the
manner in which a company can promote itself in the national or international market. The
assignment is based on the manner in which strategic development helps a company to gain
the required success for its promotion and progress. I want to provide my perspective of the
manner in which I can use a promotional strategy so that I can get exposure for my company.
This can help me to make progress in the business world.
The positioning strategy used by me along with the target market are analysed in the
assignment. At the same time, a marketing plan is established that highlights the plan
required for success along with identifying a budget required for success. The legal factors
needed to be considered is analysed and development of my promotional campaign is done
using proper materials required for promotion.
Establishing personal brand
Positioning strategies
As stated by Lovelock and Patterson (2015) it is important for every company to
ensure that a proper promotional strategy is undertaken so that it can either continue its
domination or gain recognition in the market. In order to do this it is necessary to select a
proper promotional activity that can help in positioning an organisation. In my case, I can use
personal promotion method so that I can establish my company firmly in the New Zealand
market. I have a firm sense of understanding the business market and the manner in which I
can provide assistance for my company in order to be stable in the competitive market.

3
REAL ESTATE
The reputation I have can help me to continue its dominance in the market and the use
of personal promotion can be done by disbursing sales agents across the country. At the same
time, I can indulge myself in using social media and print media so that I can reach a large
amount of customers in less time. In the modern world, the adoption of such promotional
methods can help in maintaining stability in the business and ensure that business prospers in
a rich manner. This can help me to expand my horizons in the international market.
As stated by Hair Jr and Lukas (2014) direct marketing is an important manner of
creating a sense of awareness among the people. In my case, I can indulge in direct marketing
so that I can communicate properly with the customers. This can help me to ensure that
proper selling of the properties are done by stating the features that need to be expected along
with the prices marked for the concerned property.
Getting to know the market
In order to ensure that I understand the market it is necessary that a proper analysis
method of the market be conducted. The analysis can be in various forms such as conducting
a market survey. This can help in finding out potential target customers in the market and
ensure that the demands made by the people are met. I can achieve this by undertaking a
market segmentation that involves the analysis of the geographical segmentation as well as
the demography. I can ensure that market segmentation is done so that I can understand the
geographical as well as demographic factor that helps in understanding the position of the
market.
The demographic segmentation denotes the population of the country. As stated by
Goworek, McGoldrick and McGoldrick (2015) the population of New Zealand is 46.9 million
therefore, I can analyse the target market based on the population of the country. At the same
time, the psychographic analysis can help me in understanding the social status of the people

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and likewise sell houses depending upon the financial position of the people. Therefore, it can
be said that the relationship between the segmentation factors can help in analysing my
position in the market and at the same time ensure that I remain competitive in the market.
Apart from market survey, it is also necessary that I create a personal brand area so
that people can trust the services provided by me. The fact that I can gain the trust of the
people helped me to understand the demand of the customers and the manner in which I can
ensure their satisfaction. Such knowledge can help me to ensure that the personal brand
image of my company exists.
Identifying target clients and customers
As stated by Armstrong et al. (2015) maintaining a target customer can help in
establishing and reaching the objective of a company. It can help in maintaining a steady
focus towards the objective as well as fulfil the aim of the companies. In my case I need to
manage the territory in which I can operate. New Zealand is a country that has an area of
268.021 square kilometres. Therefore, I need to ensure that I mark major portion of the
country as my own. This can help me to target my customers easily.
A proper marketing segmentation shows that my target customers and my clients can
range from high-class society to middle class society. People residing in New Zealand can
afford to purchase properties using me as an agent. Discounts can be provided so that the
people can remain loyal towards my agency. Therefore, it can be said that my clients and
customers can be targeted based on the psychographic analysis of the market segmentation.
Therefore, it is important for the people to choose a company based on the performance and
social relationship in the market (Perreault, Cannon & McCarthy, 2015).
The reason for choosing me as an agent of real estate is the low price deal that is
provided. I can provide pocket friendly prices to the people so that I can attract them to my

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market. Therefore, the response of the people towards me is positive and provides me with an
opportunity to continue my dominance in the market. Stiff competition from reputed real
estate agencies can be mitigated with proper marketing segmentation.
Retailing clients and customers
Malhotra and Peterson (2014) considered that creating a personal brand image can
help in the success of a company. With the help of a proper brand image, I can target my
customers and at the same time ensue that I can retain the loyalty of the people. The personal
brand can be created with the help of proper promotional techniques such as promotion via
print or social media. At the same time, net working can benefit me as I can gain more
customers via promotion using word of mouth.
The benefits that the clients and customers can receive from me are that a good place
to live in at a cheap cost. This can be useful as New Zealand is considered as a country with
picturesque view and people desiring to reside in hilltops or near the sea can own a property
in the area. At the same time, I can maintain a proper communication with the customers and
this can help me to continue my business in a significant manner. Net working can also help
me to maintain a chain of customers both within the New Zealand market and abroad.
However, to gain the attention of the customers it is necessary that I develop a slogan
for the promotion of the real estate. In my case, the slogan can be directed at the customers so
that I can motivate them to trust the company. Slogan such as reside in a royal manner can
help me to develop a strong competition in the real estate market of New Zealand.

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Developing a marketing plan
Plan for success
In order to be successful in a competitive market it is necessary that I make plans
based on the strengths I have in the market. Therefore, it is necessary that I plan for my
success keeping in mind my position in the market along with the manner in which target
customers may respond to my company. Market establishment can be done with the help of
proper promotional strategy (Babin & Zikmund, 2015). I can adopt the assistance of social
media as well as print media to gain the attention of the people.
Therefore, it can be said that a well-planned data about the clients and customers can
be made so that I can continue my business activities in the market. In these regard it can be
said that I need to ensure that planning takes place based on the sale of estates and the
demands made by the people. According to Huang and Sarigöllü (2014), well-planned data
can be made by analysing the external and internal environment of a business. Therefore, I
can say that planning for success requires extensive marketing skills as well as analytical skill
for success.
External and internal analysis can be in the form of identifying the capabilities of a
company. In my case, the external analysis can be by identifying the competitors. My
immediate competitors include reputed estates like Luxury Estate that also has branches all
over the country. In the case of internal capability analysis, it is necessary that I analyse the
financial resources that I need to maintain. Hence, a personal budget plan can be made to
understand the success that I may endure.

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Plan for personal budget
Jan
uar
y
Feb
rua
ry
Ma
rch
Apr
il
Ma
y
Jun
e
Jul
y
Aug
ust
Sep
tem
ber
Oct
obe
r
Nov
erm
ber
Dec
em
ber
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Am
oun
t($)
Sources
for
income
Sales
100
000
0
110
000
0
121
000
0
130
000
0
133
000
0
140
000
0
145
000
0
155
000
0
157
000
0
165
000
0
170
000
0
175
000
0
Brokerage
200
000
300
000
450
000
470
000
500
000
550
000
570
000
600
000
620
000
660
000
700
000
750
000
Bank
balance
200
000
250
000
300
000
350
000
400
000
450
000
470
000
500
000
550
000
600
000
620
000
700
000
Total
140
000
0
165
000
0
196
000
0
212
000
0
223
000
0
240
000
0
249
000
0
265
000
0
274
000
0
291
000
0
302
000
0
320
000
0
Expendit
ure
Premises 100
000
0 0 0 0 0 0 0 0 0 0 0

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0
Human
resource
expenditur
e
100
000
100
000
200
000
200
000
200
000
200
000
200
000
200
000
200
000
200
000
200
000
200
000
Taxes
200
00 0 0 0 0 0 0 0 0 0 0 0
Payment
to
subbroker
300
0
700
0
100
00
150
00
200
00
250
00
300
00
350
00
400
00
450
00
500
00
550
00
Marketing
100
000
150
000
165
000
170
000
175
000
182
000
185
000
190
000
200
000
220
000
290
000
300
000
Risk
manageme
nt
expenses
200
0
500
0
600
0
650
0
400
0
300
0
200
0
300
0
100
0
100
0
100
0
100
0
Total
expenses
122
500
0
262
000
381
000
391
500
399
000
410
000
417
000
428
000
441
000
466
000
541
000
556
000
Budget
surplus
175
000
138
800
0
157
900
0
172
850
0
183
100
0
199
000
0
207
300
0
222
200
0
229
900
0
244
400
0
247
900
0
264
400
0
Table: Budget plan

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(Source: Created by author)
The budget denotes that I have had a success in the year of the business. The overall
expenditure in the total year has been increasing mainly due to the proper management and
efficient identification of the target market. Therefore, it can be said that despite the problems
in the initial years, I have managed to create a personal and successful real estate agency in
the New Zealand market. It has been assumed that I have not made any significant changes in
the human resource management for the development of my company. Therefore, there has
been no reason for paying taxes for recruiting people.
Legal and management issues
To ensure that a business is run in a smooth manner, it is necessary that every
business organisation maintain and abide by the legal laws that exist in the country. This can
help a business to maintain its legal competence and ensure that Government support is
obtained in the market. I need to abide by the rules as stated in certain acts. Professional and
conduct act 2012 suggests that every business organisation particularly real estate agents need
to maintain professionalism in the matter of business (Perreault, Cannon & McCarthy, 2015).
Apart from this, laws related to Fair Trading Act 1986 and Privacy Act 1993 suggests
that the information of the clients and customers need to be kept as confidential. The Fair
Trading Act 1986 suggests that trade relation need to be maintained particularly since the
company has ties in Australia and Indonesia. Therefore, the trade relations between the
countries are important for the expansion of the company. According to Paley (2017), in the
modern day, it is necessary that organisations indulge in technological competence. Hence, it
is necessary that I follow the rules stated in the Unsolicited Electronic Message Act 2007 so
that I can abide by the legal rules of maintaining communication between the clients and
managers.

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Developing and using promotional material
The development and promotional material required for the development of a
company need to be creative as well as innovative (Ruiz-Pava & Forero-Pineda, 2018). I can
indulge in activities such as providing gifts at the doorsteps of the clients that have purchased
properties from my company. This can help me in maintaining proper relationship with the
clients. I can use printed documents, electronic communication, seminars and flyers so that I
can provide information to the people regarding new aspects in the market. However,
technical issues such as failure in the electronic communication system can cause problems in
my organisation.
At the same time, I can use other promotional activities such as internet promotion,
face-to-face communication along with telephone communication as promotional agents.
This can help me to build a strong relationship with the customers and ensure that any
grievance from the point of view of the customers can be understood properly. As suggested
by McAlexander, Koenig and DuFault (2016) mail can be sent to the customers that consist
of feedback forms required for understanding the demands of the customers.
Analysing results of promotional activities
The results of the promotional activity can help me increasing my reputation as a real
estate company in the market. My company is established across New Zealand and the
promotional activity undertaken can help me to maintain contact with the people so that
customer loyalty can be maintained. The fact that the use of electronic communication can
help in establishing direct contact with the customers is one of the most important factors for
my company and me.
It shows that the domination undertaken by me in the New Zealand real estate market
is superior and this can be attributed with the fact that more than 40% of the people residing

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in the country have purchased property by making contact with me. At the same time, I can
gain success using social media. In the modern generation, people rely heavily on social
media to look for business opportunities and new deals in the market. With the existence of
an official website, I can promote my newly found company by directly approaching the
customers.
Conclusion
It can be concluded that being a planner of promotional strategy I can ensure that my
company receive the required exposure for success in the competitive market. The fact that I
use modern promotional methods can help my company to remain dominant in the market.
The satisfaction of the customers plays an important role for my success and the possibilities
of expansion in international market increases. The success rate of the promotional activities
can be attributed with proper marketing plan that are undertaken by me.

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