3. The less is the availability of any product
the more becomes the demand and thereby
the price. Same holds true for the luxury
villas and apartments. People who have deep
pockets to easily part some crores of money
for a home, will definitely care for their
privacy and security and be really concerned
about what sort of neighbour they will be
living with. Neighbours might not be a real
concern for the lesser mortals like us, but is
definitely a matter of prestige and lifestyle
for the target customers of such ultra-luxury
abodes. Our marketing goal would be to
identify this pockets and create a need base
product in totality.
4. It is difficult to meet everyone's needs with a single product. Identifying
our target market will help us ,use our resources more wisely as you
market our company to a specific, manageable group of people. List all
potential consumers. Include individual buyers, as well as other
businesses and middlemen who re-sell your product to others.
Segment our audience. Split them up into different groups of consumers,
such as Investors, Business owners & Brokers
Investors: We shall prepare a list of regional & Overseas investors who
have invested in past over such products.
Business Owners: All Local Shop Owners ( Established ) from Ludhiana or
Punjab.
Brokers: Brokers or any Third Person who has network of high net worth
individuals (HNI) to be approached for the sale partnership.
IDENTIFICATION & ANALYSIS
5. ANALYSIS AND REFINEMENT
Product development is the process of creating a new product to be
sold by a business or enterprise to its customers. Herein working with
the product design 4 years back will surly leave demand & supply gap,
hence we recommend to analysis our product benefits time to time &
offer the best suited benefits.
Suggestions:
1)Financial Assistance / Bank Loan
6. Graphics can get attention, but don't let them overwhelm your
marketing to the point where your message isn't being
communicated. Things that state the opposite, the negative and
mistakes get attention. Same would be the case in our case as
there are areas of concerns due to previous happenings.
Hence Countering the negative message with a brand new
message having a positive nod. Publishing regular press release
can have one such positive effect, a dedicated PRO( Public Relation
Officer) surely add weightage to our intend.
Suggestions:
1)Regular Press release
2)Interactive Customer Feedback Program
3)Grievance Redressal Program
8. Brand Marketing
Brand marketing influences the decisions of a variety of customers,
including both end consumers and businesses. It is most effective for
developing repeat business, as any customer’s perception of a brand is going
to be largely informed by their previous experience(s) with that brand. For
customers, the company’s brand represents instant knowledge of that
company.
Banners , Hoardings , Press Release , Sponsored Events , Radio Promos &
Running Ads will help us in increasing the recall value of the brand , the
constant presence across all platform will boost the customer confidence &
Sales Volumes.
Suggestions:
1)Installations of hoardings at prominent locations
2)Wall Dropouts at visible private sites
3)Regular Press release
4)Radio Promos
5)Sponsorship of popular events
9. Direct Marketing
Direct marketing removes the "middle
man" from the promotion process, as a
company's message is provided directly
to a potential customers. Direct
marketing is about making direct contact
with existing and potential customers to
promote your products or services.
Unlike media advertising, it enables you
to target particular people with a
personalized message. Direct marketing
can be cost effective and extremely
powerful at generating sales.
Suggestions:
1)Seminar Sales( Venue Marketing )
2)Tele Marketing
10. Promotion Marketing
Promotion is one of the key elements of the
marketing mix, and deals with any one or
two-way communication that takes place
with the consumer. Advertisements , Events
& Road shows are popular ways of
Promotion Marketing.
Suggestions:
1)Newspaper Advertisements
2)Radio Jingles
3)Sponsoring Associations Meetings
4)Seminars for club members & Investors
5)Overseas Events
11. Channel Marketing
Channel marketing refers to the practice of interacting with customers
using a combination of indirect and direct communication channels, in
our case likes of Brokers & Sales Associates. Due to high influential &
personnel bonding of certain individuals , real estate investment is
mostly directed through these channels. Having on board of these
Brokers helps us in closing deals quickly. Similarly individuals who work
with HNI clients likes of Investment Banker , High End Car Sales
Personals , Insurance Advisors & Influential Individuals (likes of
President , Chairperson , Leaders etc.) shall be taken on board and
developed as sales channel partners for cracking deals.
Suggestions:
1)Brokers Meet
2)Referral Incentive Programs
12. Social Media Marketing
Social media marketing refers to the process of gaining website
traffic or attention through social media sites. Social media marketing
programs usually centre on efforts to create content that attracts attention
and encourages readers to share it with their social networks. A corporate
message spreads from user to user and presumably resonates because it
appears to come from a trusted, third-party source, as opposed to the brand
or company itself. Hence, this form of marketing is driven by word-of-mouth,
meaning it results in earned media rather than paid media.
Social media has become a platform that is easily accessible to anyone with
internet access. Increased communication for organizations fosters brand
awareness and often, improved customer service. Additionally, social media
serves as a relatively inexpensive platform for organizations to implement
marketing campaigns.
Suggestions:
1)Creation of pages across social media platforms such as Facebook, Twitter,
YouTube etc.
2)Promotion through Digital catalogue over social media platforms
13. Evaluation Strategies
Strategy Evaluation is as significant as strategy formulation because it throws
light on the efficiency and effectiveness of the comprehensive plans in
achieving the desired results. By having regular evaluation on the marketing
approach we can identify the platform to focus for marketing , loopholes &
pain points in sales. A collective database management is required to
evaluate the implemented strategies , likes of record of enquiry sources ,
regular client follow-ups, client Feedback etc.
Suggestions:
1)Guest registration forms
2)Client Feedback forms
3)Client Comment/Follow up Sheets
4)Need Analysis Forms
15. PROCESS
WEEK 1
• Designing & Printing of
Marketing Collaterals
WEEK 2
• Premarketing & Sales Process
to be set up
WEEK 3
• Commencement of sales &
Marketing programs as stated