Comprehensive Business Plan Analysis for Ray White Group Agency

This report presents a comprehensive analysis of the Ray White Group's business plan, focusing on key elements such as market research methodologies, SWOT analysis, and marketing strategies. The report examines the selection of a suitable business plan template, emphasizing the importance of market research in identifying trends, potential clients, and competitors. It delves into primary and secondary research methods, including surveys, interviews, and the use of existing data. Furthermore, the report conducts a SWOT analysis to assess the agency's strengths, weaknesses, opportunities, and threats, highlighting competitive advantages. The marketing strategy section explores various approaches, including online media, advertising, and direct selling, while also determining target markets and the factors influencing marketing activities and materials. The report provides insights into the agency's objectives, the influence of different marketing activities, and the importance of adapting to market changes. This analysis aims to provide a complete overview of the Ray White Group’s business plan and its marketing strategies.

Assessment
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Contents
Element: 1........................................................................................................................................3
Element: 2........................................................................................................................................5
Element: 3......................................................................................................................................11
Element: 4......................................................................................................................................15
REFERENCES..............................................................................................................................20
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Element: 1
1.1 Selecting one of template that found in the research on developing a business plan.
When conducting the research on developing a suitable business plan that needs to
consider appropriate template. It can help to get organised or managed the large amount of data
in proper manner. It is not only providing the brief idea about the overall information about “Ray
white group” agency (Loke, JosephNg and Eaw, 2020). Generally, it has been selected the
professional template for business plan that should include different elements such as Executive
summary, mission, vision, objective, competitive analysis, marketing strategy and segmentation,
targeting. These are considered as essential information use in the business plan template to find
out brief overview about the “Ray white Group” real estate firm.
1.2 Discuss about the property market research that carry out its methodology, why this is
suitable.
Market research is conducted to develop sound base for creation of property database. The
“Ray white group” can be performed the market research to identify new trends in global
marketplace. Sometimes, it become easier for researcher to identify the potential client,
competitor’s profile, marketing strategies (Toumeh, Yahya and Amran, 2020). “Ray white
group” is implementing the market research for performing the different procedures such as data
collection, analysis, selection. In order to identify the accurate or correct information.
Market research methods
Basically, Ray white group can be used the different research method to gather relevant
information from primary and secondary sources. The information consists of both qualitative
and quantitative. In this way, it can useful for real estate company to find the accurate data
within numerical estimation. Primary and secondary is all about the way to gather or collect
information during market research.
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Primary
This method is used in the market research that gather new data and conducted directly rather
than indirectly. Sometimes, it is also referred to the field research. “Ray white group” can be
conducted the research directly through primary research such as:
 Conducting survey or questionnaires by “Ray white group”
 Conducted the interview session for interacting with particular respondent by “Ray white
group”
 Focus groups whereas interact with people and then discuss about the relevant topic.
The primary research is mainly used when “Ray white group” to gather specific information
directly through survey. It enabling the agency to target the question specific individual’s.
Secondary
This type of research method involves collecting information through existing data
available in market. In this way, “Ray white group” prefer to coordinate with industry bodies,
government, internet, client and other agencies.
The specific source of information on agency competitors may include brochures, financial
data, website, professional bodies and other exhibitions.
Qualitative and Quantitative research
Qualitative research is based on the non-numerical data where “Ray white group” agency
gather information on the basis of individual’s attitude, behaviour and their opinion. Sometimes,
it is useful for gain more understanding towards market trends (de Gregorio and Windels, 2020).
When agency conducted the qualitative research to used different methods such as interview,
focus group and observation.
On the other hand, Quantitative research is based on the structured numerical data which
may involve the collection of information and measure numerical forms. Ray white group
agency can this method for identifying size, percentage, quantity.
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Element: 2
2.1 Why refer to the agency’s business plan ad might take into account the need of existing client
or future business opportunities.
The “Ray White group” agency’s business plan, needs of existing client base, nature of
enterprise opportunities. That’s why, “Ray white group” consider business plan to implement
suitable strategies in order to increase overall business growth and development (Toumeh, Yahya
and Amran, 2020).
Before implementing the market strategy, the following need to be considered:
 Agency’s business plan
 Need or requirement of existing client base
 Nature of further enterprise opportunities
Refer to the Agency’s business plan
Ray white group have been already sets out the organizational goals, enterprise direction
and other financial forecasts over period of time. Generally, it can be formed on the basis of
enterprise activities. Main reason for refer to the business plan whereas achieving the desirable
goal and objective. Moreover, the agency should be designed the marketing strategies to target
the existing client. In order to fulfil demand of clients. This is important reason why it is an
essential to consult or refer the business plan first.
During business plan, marketing process can be developed or updated, gain refer back the
overall agency direction and objective. The enterprise plan must include as analysis of client
demographics, when they can purchase or use agency service.
Need of existing client base
When “Ray white group” is developing the market strategy, consider all essential need or
requirement of existing client. During research, it is not sufficient to gather or collect accurate
data but sometimes, it may depend on the different factors such as financial situation, customer
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income, background, cost, age and attitude towards real estate agency. Furthermore, “Ray white
group” can review the scope of market opportunities currently available so that it can be
understanding the relation with existing client base.
Market Opportunities
“Ray white group” can see as current market problems but agency may use issue in the
industry to create the growth opportunities. As consideration of political, legal, social, economic
and technology factors that will change the overall business activities (Fu and Cui, 202). In this
way, “Ray white group” can identify the opportunities in relation to further business growth or
development.
When agency developing marketing plan to change the business nature and going
forward to be evaluated by existing client, who want to capitalise on the future growth or
opportunities.
“Ray white group” firm can be developed the future business opportunities while
establishing a strong contract to purchase local community magazine. Afterwards, it will provide
the better interactive advertisements for attracting large number of consumers.
2.2 perform SWOT analysis and identify the competitive advantage.
“Ray white group” can perform the SWOT analysis consider as important method of
business as well as competitor assessment. In this way, organization can easily analysis strength,
weakness, threat and opportunities. The Agency can compare and contrast with their potential
competitors. Typically, SWOT analysis can be done on the basis of entire business point of view.
Strength
The strength of “Ray white group” enterprise is their business location which always
attracting potential consumers. In this way, it can be developed as strong brand to maintain their
position in marketplace (Toumeh, Yahya and Amran, 2020). The quality processes are
considered as strength to provide the prime location property dealing and establish the
connection with expert finance brokers.
Weakness
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The weakness of Agency is their inexperienced new young staff members. they have no
specific knowledge or experience to handle the overall business processes. In this way, it may
increase problem of business in context of growth and development. Another weakness are lack
of marketing, old database, lack of differentiation and limited multi-lingual staff members within
competitor environment.
Opportunities
The opportunities for Agency is to maintain strategic alliances, adopt new international
markets, update database on regular basis. These are considered as great opportunities for “Ray
white group” to enhance the overall business in global marketplace.
Threat
Main threat of agency is related the new regulations, high competitive level which may
directly affecting on the entire business.
2.3 determine agency marketing strategy and targets
The marketing strategies aim for gaining competitive advantage within incorporated into
them. “Ray white group” agency enabled to increase the overall business value. It means that
being aware of current competition level, identifying the different factors into marketing
strategies for agency.
Marketing strategies need to be aligned with enterprise goals, especially when maintain
the position of agency in the marketplace. “Ray white group” can be considered different
marketing strategy (Toumeh, Yahya and Amran, 2020). It involves online media channel,
advertisements, brochures, banners. These are different way to promote the business services in
global marketplace. Another way, it can be established the strong coordination with client to
fulfil their specific need or requirement.
Clear objectives of each type of promotional activity will need to set in specific action plan
which including measures of success, agreed with benchmarks and targets. In additional, “Ray
white group” agency can consider the different marketing activities.
 Direct selling to customer by phone, email and text
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 Advertisement of print media by using broachers, flyers.
 Online advertising is the one of most common strategy to promote the services of agency.
 Performing business to business marketing
Once a marketing strategy has been implemented within agency, achieving the success of
business whether met agreed targets. By using different marketing strategies, “Ray white group”
firm is increasing their sales, production by 10% within specific set of interval time.
Targets
“Ray white group” is mainly focused on the achievable targets which are becoming
reasonable, attainable, motivating staff members. Typically, Agency may target the families,
bachelors for providing the better land areas or place according to their requirement (Wang,
2020). The staff members are likely to work harder, achieve their desirable goal and objective.
“Ray White group” agency should have their own targets aim for. It is imperative that targets are
agreed by personal designated. Agency ensure that there is no specific mis-interpretation and
compare with the actual result or outcome.
2.4 Discuss about the different factors influence marketing strategy, activities, and materials.
There are different factors influencing marketing strategy, which may influence the specific
choice or selection of marketing.
a) Marketing strategy
Service range and Mix
Agency can use various service range in context of property dealing so that it help for
improving the overall business need and requirement. Sometimes, different service range
depend upon the target market where identifying demand of existing client.
Creating a point of difference for agency
Ray White group agency will be creating a point of difference in between different
products and services. In this way, it become easier for differentiating the preference of client
at certain points. in this way, it can influence the marketing strategy to perform within
organization.
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Presentation and representation of services
It is mainly depending on the online distributed channels where how they can inspire or
motivate the target audience towards services.
Advertising and promotion
Promotion and advertising is one of key source that help for inspiring or motivating the
individual towards business services. This will help for targeting more consumer towards goal
and achievement.
Activities and Materials
Direct marketing: this type of method is based in promotional that involves presenting the
information about the company, product as well as service to target. “Ray white group” company
will use direct marketing approach to provide the better customer attraction through different
services (Bedasso, 2020). It is influencing the business to increase the productivity as well as
profitability in marketplace.
B2B marketing: It refers to any marketing strategy, context that is geared towards organization.
“Ray White group” that sells their products and services to other enterprises. In this way, it may
influence the business to achieve the desirable goal and objective.
Networking: It is important factor that may influence the agency to establish the strong network
connection with potential consumers. Moreover, it help for fulfilling the specific need or
requirement of existing consumers.
Target markets: “Ray white group” is basically targeting the niche market for providing the
better property service. It may influence different activities and materials to adopt new
innovative idea. Afterwards, it can easily targeting niche market.
Online social media marketing: these are considered as important platform or tool which mainly
used for promoting the product as well as service in global marketplace. Nowadays, large
number of consumers are visiting the social media platform to check the availability of particular
services.
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As per discussion, it has summarised about the different marketing approach, which plays
important role for promoting the effective service in global marketplace. It helps for targeting the
potential existing consumers. Different marketing approaches will help for establishing the
strong position in marketplace.
2.5 Evaluate corporate image, mission statement that will use to promote positive public
recognition and its services.
Once a marketing strategy has been developed. It requires to prepare for representing all
views of different stakeholders. Afterwards, it make an effective decision regarding the business
mission, corporate image. It is an essential part of agency to maintain their position in market but
it can possible when focusing on mission, vision (Toumeh, Yahya and Amran, 2020). Typically,
Marketing strategy can be representing through printed documentation emailed by stakeholders,
power point presentation and online meetings.
To prepare the effective presentation documentation as selling the service, if requires the
approval from client side and to get buy different items. In some situation, it can provide the
advantage, benefits of marketing strategy. Usually, it including customer profile, market
position, and description of agency, tactics, marketing strategy and measure of success.
Statement of mission, logo and other phrases
The Agency can be developed the positive public recognition of different services:
 Including a tag line, remind them of what is important for business to create positive
impression in front of existing client. In order to create as customer centric approach
(Hong and Linh, 2020).
 Create as recognisable logo that is important for identifying the brand position.
Generally, it can be represented as symbol or image, design, layout. These are important
aspect for reflecting on the image of agency. Ray white group is always representing a
unique logo and give as idea of different services. The recognisable logo should be
simple, unique and relevant to business. It is clearly aligned with agency mission
statement.
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 The business can use specific mission statement: Agency declare to target the existing
client with help of different services. It helps for establishing a strong position in
marketplace.
 When developing a mission that need to understand the importance, costiveness. In this
way, client should able to reach and identify the value of agency. The statement of
mission can be appeared on the basis agency website and their promotional materials. in
this way, different staff members, clients, suppliers are improved their own understanding
towards brand.
 Afterward, agency will be representing the marketing strategy on the basis of need or
requirement of client. The overall design and presentation is completely suits to the
audience, using visual or text such as diagram, graphs and images.
Element: 3
3.1 Promote agency services to maximise competitive advantage and profitability
The real estate business marketing has been historically chest beating. There is need to show
customers how real estate busines can help them to have successful and investment of different
investment portfolio. There is sever level of breaking out of the category along with aligning
their business in ore successful manner rather than capturing with other in own category.
Ray white is majorly focussing on the property marketing, internal and broker
emphasizing in order to make its first brand. The firm is looking out to have breaking out the
category which can make consumer proper realization regrading firm proper property ambition.
There is need to make better brand articulation with scale and market impact. Promotional
activities will be looking at here detailing idiosyncrasies along with ways to be love of labelling
and consumer to look out the property aspiration.
Savvy business owner and their executive are consistently pushing to have proper
maximization of growth with profitability and value. These strategies will have leverage
upcycles, weather downturned long with achieving the growth and value market. in the business
of real states, it is important for business to understand the client and business prospective clearly
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informed with business. In addition, communication have clear effect on needed to be logically
structured and in simple language. It involves online media channel, advertisements, brochures,
banners. These are different way to promote the business services in global marketplace
Promotional strategy can help the brand to appear inform of consumer along with
retiling position in favourable light opening door for future communication. The way can be as –
Social media promotion
Social media websites such as Facebook and Google along with Instagram and YouTube
make companies to promote services in more relaxed working environments. This is direct
marketing connecting world of potentials customers form differ perspective. Social networking
will get more personal touch to customer presenting them clear and appealing image of
company.
Mail order marketing
Customer should have come up with company regarding services to be executed. The
company should try free or extra services to customer who are friendly with company.
Representing familiar approach as target audiences. mail order marketing will be helpful in
greeting personalized information in better manner.
Customer appreciation events
In store customer appreciation events will be tuning out as the value-added services
offered by the agency standard helping out consumer to have more relaying and managing the
development of different business aspects. This can be such as conveyancing services, financial
services and utility connection services. Ray white should pay major focus on the campaigning
such as in cinema advertising, TV and radio to selected area or can clearly move into their print,
digital and social element. The firm look into formation of relative agency for have effective
crafting of brand programme creating successful brand in eye of customer. digital emphasis on
YouTube and different social media website will be creating a clear milestone of achievement. In
the business there is need for make efficient marketing growth lever and better aligning efforts
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