Strategic Positioning And Promotions For Real Estate Business In New Zealand

Analysis of Target Market and Positioning Strategy

Discuss about the Manner In Strategic Development.

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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.

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.

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.

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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.

Marketing Plan and Budget

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 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.

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).

Promotional Campaign and Legal Factors

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 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.

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.

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.

Direct Marketing and Analysis of Market

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.

January

February

March

April

May

June

July

August

September

October

Novermber

December

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Amount($)

Sources for income

Sales

1000000

1100000

1210000

1300000

1330000

1400000

1450000

1550000

1570000

1650000

1700000

1750000

Brokerage

200000

300000

450000

470000

500000

550000

570000

600000

620000

660000

700000

750000

Bank balance

200000

250000

300000

350000

400000

450000

470000

500000

550000

600000

620000

700000

Total

1400000

1650000

1960000

2120000

2230000

2400000

2490000

2650000

2740000

2910000

3020000

3200000

Expenditure

Premises

1000000

0

0

0

0

0

0

0

0

0

0

0

Human resource expenditure

100000

100000

200000

200000

200000

200000

200000

200000

200000

200000

200000

200000

Taxes

20000

0

0

0

0

0

0

0

0

0

0

0

Payment to subbroker

3000

7000

10000

15000

20000

25000

30000

35000

40000

45000

50000

55000

Marketing

100000

150000

165000

170000

175000

182000

185000

190000

200000

220000

290000

300000

Risk management expenses

2000

5000

6000

6500

4000

3000

2000

3000

1000

1000

1000

1000

Total expenses

1225000

262000

381000

391500

399000

410000

417000

428000

441000

466000

541000

556000

Budget surplus

175000

1388000

1579000

1728500

1831000

1990000

2073000

2222000

2299000

2444000

2479000

2644000

Table: Budget plan

(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 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.

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.

Personal Branding and Target Customers

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.

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 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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