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Marketing Assignment Based Around the Estate Agency Business.

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Introduction

MARKETING ASSIGNMENT BASED AROUND THE ESTATE AGENCY BUSINESS. VS BUSINESS, YEAR 1. BY: LYDIA MITCHELL TOPIC 1- PLAN PLAN As part of my Marketing unit I have been asked to produce a detailed marketing strategy for a new business venture, an estate agent in Ealing, operating throughout the whole borough. The assignment must include: How I plan to set up an estate agent in Ealing. How it is based around the principles of marketing. My knowledge of marketing and market research. My proposed marketing mix. The external influences in my chosen area. Marketing is used to manipulate the behaviour of customers. The main concept of marketing is about "understanding the customer and ensuring that products and services match existing and potential customer needs" (quote: AVCE Advanced Business). In order to market the company the following needs to be known and understood by my estate agency: Customer needs. How to communicate effectively with customers to satisfy their needs and expectations. What are the constraints on marketing activities? How to keep ahead of competitors. How to co-ordinating functions to achieve marketing aims. My marketing strategy must be based on my knowledge of market research and the principles of marketing. ...read more.

Middle

They also said that in order to advertise for people to sell their houses they used leaflet drops throughout the whole borough. Through secondary research I found out some government statistics. These allowed me to see the household numbers and the projection up until 2021. This showed me that the houses that I would need to sell would be 3 bedroom houses as most families have around 3 people in them. TOPIC 3- EXTERNAL INFLUENCES EXTERNAL INFLUENCES The internal and external influences that may affect the business can be analysed using a SWOT analysis and a PEST analysis. PEST ANALYSIS The pest analysis is designed to examine the external environment and global factors that may affect the estate agency business. By grouping the external forces neatly into four main areas, PEST stands for Political factors. Economic factors. Social factors. Technological factors. SWOT ANALYSIS The main purpose of a SWOT analysis is to "conduct a general and quick examination of a business's current position so that it can identify preferred and likely directions in future" (Quote: Advanced Business Studies). A SWOT analysis can be used to plan a marketing strategy. ...read more.

Conclusion

I was unable to find a shop in the Greenford area that I was up for rent. PROMOTION When looking at forms of self-promotion I can use branding and leaflet drops. Leaflet drops are used by companies to advertise for people to sell their houses. When advertising the houses I can use the local newspapers, the Ealing Gazette, the shop window and the company website. PEOPLE People are the greatest assets for a business. It is not often recognised that employees are also customers in the organisation. Both types of customer expect to be supplied with a product or service that they need, on time and as specified. This applies to everybody no matter what level of skill he or she are at. The product can simply be "answering a phone or masterminding a major new project" (AVCE Advanced Business). This provides the individual with responsibility and almost guarantees the organisations performance will be improved. PHYSICAL EVIDENCE Physical evidence is the evidence that is collected that can be used as facts. For example I designed a questionnaire to let me know the wants and needs of customers, by doing this I had physical evidence to show that I knew what t???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????@@??????????+??????A?T??????+????????????????x??B?????????????R???????1????????????????????1??mployee discretion. Lydia Mitchell Marketing Assignment VS Business Studies, Year 1. - PAGE 19 - ...read more.

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