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SME business'

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Introduction

Introduction Marketing is one of the terms in academia that does not have one commonly agreed upon definition. However "in a nutshell it consists of the social and managerial processes by which products, services and value are exchanged in order to fulfill individual's or group's needs and wants"(www.wkipedia.org). Small and Medium Enterprise (SME's) are defined as businesses with less than 250 employees. SME's play an important role in marketing as they are recognised as making a major contribution in innovation and employment. This piece of work will be focusing on two SME companies: Ludlow Thompson and Douglas and Gordan. We will aim to identify the nature of the marketing environement within which both of these companies operate, we will also analyse the internal and external marketing problems and develop solutions for overcoming such problems. Finally we will apply appropriate marketing techniques to these two companies contexts. a) Identify the nature of the marketing environment within which they operate Ludlow Thompson is an independent residential estate agency established in 1993 with nine offices across London. Ludlow Thompson sold/let �880 million worth of property just in last year alone (April 05-April 06). ...read more.

Middle

(www.wikipedia.org) Training staff is essential for any company, as this will affect both the recruitment of customers and also the expansion of customers. Training staff impacts greatly, not only on the performance of the individual but also on the performance of the company as a whole. If staff are not trained customers will not be satisfied with the level of service the company provides. As a result customers will seek a better quality of service elsewhere. Ensuring staff are well trained is a simple and effective way to overcome this problem. Communication barriers were a problem that was encountered by the group when we visited Ludlow Thompson estate agent. The barrier was between the estate agent dealing with our situation and the landlord. The estate agent was informed that we were looking for a 3 bedroom flat with double beds; however on arrival we found it was in fact to be a 3 bedroom flat with two double beds and a single bed. The estate agent was very apologetic and promised to have the situation sorted out as soon as possible. A way to overcome this problem would be for the estate agent to make sure they are attentive to detail and to double check with customers that they have the right information. ...read more.

Conclusion

Also there was just one person dealing with our claim and we had direct contact with this peron. They acted as a go-between between ourselves and the landlord. Ludlow Thompson provides physical evidence through testimonials and virtual tours. Douglas and Gordon also incorporate the 7 ps into their processes. They make it clear what service they provide. Their sevices include buying, selling, renting, letting. As with Ludlow Thompson, the price is also set by the client and then property is found accordingly.They advertise their services through brochures, magazines and the website. They are situated in 15 offices across London. Their staff are well trained and had a formal attitude towards their clients. Douglas and Gordon provides physical evidence through testimonials and photographs (taken by professional photographers). Conclusions Both Ludlow Thompson and Douglas and Gordon operate in a fiercly competitive market environment. They are driven by sales. It is essential to know your marketing environment. Having a good network will help market properties to a greater number of buyers and tenants. In addition to this, efficiency is the key to success, therefore if a company is efficient it will prosper and grow. Know the way to present your property. Looks can kill or kickstart a sale. First impressions count, therefore make sure your property is well protected. ...read more.

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