Bus 330 – Principles of Marketing – Using Effective Marketing Strategies to Achieve Success
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Property Management: Using effective marketing strategies to achieve success
Principles of Marketing: BUS330
Over the last five years I have been a leasing agent in the industry of Property Management. Most of my time is spent meeting with people and building personal relationships. The marketing strategies that I have learned in Principles of Marketing directly apply to my industry. As a company we need to use marketing to our advantage. Property Management as an industry relies on word-of-mouth, but we also need to rely on proven marketing strategies. As a successful person in this field I must use marketing effectively. Property Management is an industry that has a great amount of competition so individual companies must build their brand, use pricing to their advantage, use direct and online marketing and build relationships through personal selling. The marketing concepts I have learned in this course applies directly to the Property Management industry.
The company where I am employed has been recently working towards building our brand. The owner bought us books to read on brand building and wants our opinions on how to achieve this. Building a brand takes a lot of work and strategizing. A brand resonates with customers and allows a company to have a deeper connection with consumers. According to Scott Glatstein, the author of “5 Steps to Brand Building”, there are a list of things to keep in mind when building your brand. The following steps are: identify reasons-to-believe, identify customer touchpoints, determine the most influential touchpoints, design the ultimate experience, and align the organization to consistently deliver the optimal experience. These steps seem pretty easy, but can be difficult when multiple employees must adapt to these ideas and carry them out. The first step, “identify reasons-to-believe”, is explained by Glatstein, “Your brand promise is irrelevant if your customers do not believe it. Therefore, your promise must be supported by reasons-to-believe.
This will automatically add substance to the promise and define specific expectations for the customer” (