Case Study: Marketing Strategies for Estate Agency's New Application

This case study focuses on the marketing strategies employed by an estate agency, specifically in relation to the launch of their innovative "Point and Know" application. The report begins with an overview of the new product, highlighting its features and benefits for potential users. It then delves into the segmentation, targeting, and positioning strategies used to identify and reach the appropriate customer base. The core of the case study examines the marketing mix, detailing the product, price, place, and promotion strategies. The report emphasizes the importance of social media marketing for building brand image and reaching a wide audience. The conclusion reinforces the significance of marketing functions in building brand image and achieving market success, supported by references to relevant literature and industry insights. The report uses the 4Ps of marketing to analyze the product's positioning in the market, pricing strategy (free app), and the importance of app store placement and social media promotion. The case study emphasizes the importance of the marketing mix to successfully offer products and services.

Case Study

Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1.Overview of the new product...................................................................................................1
2.Segmentation, Targeting and Positioning.................................................................................1
3.Marketing Mix..........................................................................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing is the heart of the businesses as it allows businesses to maintain long lasting
and ever-present relationships with their audiences. The importance of marketing is not only for
retail businesses but it is significant for all types of businesses either it is retail or real-estate. It is
possible only with the marketing functions to target the right audience. It is fact that the entire
reputation of company. In this present report, Estate Agency Industry is being chosen for
assessment. It is the businesses of selling houses in the city. Further the case study is about
building the brand image of the company as they are launching innovative application “Point and
know”.
MAIN BODY
1.Overview of the new product
Estate Agency Industry is the real estate company selling houses in the city. They are
going launch a new product which an innovative application named as “Point and Know App”.
This app allows a subscriber to point their smart phones at any for the sale sign as well as they
can obtain information about the house like number of bedrooms, price, area of square fits and
time period on the market. This application is very helpful for the people.
2.Segmentation, Targeting and Positioning
This is one of the strategic approach of modern marketing. With the help of this model, it
becomes easy for the company to target the right audience in right time. There are three stages of
the model which Estate Real Agency will use to select, target the audience and positions the
brand in the market (Zia and Kumar, 2016).
Segmentation- This is the method of grouping the customers on some sort of criteria
which can be based on location, behaviour, attitudes, demographics and others. By identifying
the customers, it becomes easy for the company for effective marketing. Estate Real Agency also
divide the group of customers with same interest, needs and locations. They will use geographic
segmentation as it is the best and simple to target as based on the area where they have houses to
sale and where most of the people are living in rented house.
Targeting- There are many segments to target the audience. Real Agency Industry is
bringing a new application of “Point and Know” app. So, they can target all; the segments but in
order to build the brand image in the market, the best way is to target those audience which have
need of house. In addition to this, company can also target the audience who have interest in the
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property (Schlegelmilch, 2016). Thus, by targeting effectively, Real Agency Industry can build
brand image by this innovative application of Point and Know.
Positioning- This is the last and most important point when it is context with the
branding of the company. There are many other organisations who are providing the same basic
solutions of the customers’ needs and expectation (Tanner and Raymond, 2015). But with this
application, company can build the brand image in the market because of its unique feature. By
effective marketing techniques, strategies, Real Agency Industry can get good position in the
market.
3.Marketing Mix
This is also one of the best theory of marketing that is very helpful to understand
successful offering of products and services. Marketing mix is the combination of the factor that
can be controlled by the organisation in order to influences customers to purchase its products. In
marketing mix there are ingredient which combine to capture as well as promote unique selling
point of the product or brand (Goldsby and Goldsby, 2015). It is commonly accomplished through
4P’s of marketing. There are four elements in four P which are as follows-
Product- This is the most important element in marketing mix theory because the entire
organization along with the marketing functions are depended on the product. It can be tangible
or intangible (Four P’s of Marketing, 2018). It is very important that the product of the company
should able to fulfills the needs and expectations of the customers. The product of Real Agency
Industry is “Point and Know” Application which is an innovative and very useful product for the
users who want to by the house or property. The innovative and unique feature of product can
build the brand image in the market.
Price- This is very critical decision of marketing manager to select the most suitable
price for the product because customers are highly price sensitive. The main work of the
company is to sell houses to the customers but the present case study is about the application
which Real Agency Industry is launching for the users in order to build the brand image as well
as it is also very convenient to the users (Baker, 2016). Thus, “Point and Know” app is free for the
uses, they have to download the application through internet and start using it.
Place- This is also one of the most important element of marketing mix because it the
place where products are sold. The product of the Real Agency Industry is “Point and Know”
app. Thus, the location of this app is on the smartphones of the users Real Agency Industry have
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to place this application on the play store (google) so that it can be downloaded by the users
easily.
Promotion- Promotion is the heart of the businesses. It is the communication method by
which marketing manager provide detailed information about the product to the audiences.
Personal selling, advertisements, PR, Direct Marketing, Social media marketing. Thus, in order
to build the brand image in the market, it is very important that the marketing manager should
evaluated the pros and cons of all the techniques of promotions (Sisodiya and Sharma, 2018). Real
Agency Industry is launching the application, thus, the best promotion tool that should use is
social media marketing as this can capture huge amount audience and it is cost effective
technique (Fine, 2017). Further, they should also paste banner and give advertisement on television
about the Point and Know app.
CONCLUSION
The above report concluded that marketing is very important function for all types of
businesses. In building the brand image in the marketing, it is very essential that companies
should have to select the group of audience to target as well as to achieve the height’s
position in the market. Further, marketing mix theory was also discussed in the above report
that company used for successful offering of products and services (Point and Know app).
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REFERENCES
Books and Journals:
Baker, M.J., 2016. What is marketing?. In The Marketing Book(pp. 25-42). Routledge.
Fine, S.H., 2017. Introduction to social marketing. In Marketing the Public Sector (pp. 1-12).
Routledge.
Goldsby, T.J. and Goldsby, M.G., 2015. The Four PS of Green Marketing: A Critical Review of
the Literature. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual
Conference (pp. 46-46). Springer, Cham.
Schlegelmilch, B.B., 2016. Segmenting Targeting and Positioning in Global Markets. In Global
Marketing Strategy(pp. 63-82). Springer, Cham.
Sisodiya, P. and Sharma, D.G., 2018. The Impact Of Marketing Mix Model/Elements On
Consumer Buying Behaviour: A Study Of Fmcg Products In Jaipur City. International
Journal of Technical Research & Science, Paper Id: IJTRS-V3-I1-016 Volume, 3.
Tanner, J. and Raymond, M., 2015. Principles of marketing. University of Minnesota Libraries
Publishing.
Zia, M. and Kumar, N., 2016. A Three Dimensional Vertical Differentiation Model: Implications
for Segmentation, Targeting and Positioning.
Online:
Four P’s of Marketing. 2018. [Online]. Accessed through: <
https://www.forbes.com/sites/forbesagencycouncil/2018/01/03/evolution-of-the-four-ps-
revisiting-the-marketing-mix/>.
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