Rengo Real Estate Project Marketing Strategy

Marketing has a broad range of activities. Promotion being one of the marketing mixes deals with the exposure of a product or service to the market. The promotional approach would enhance the use of promotion mix to try to sell the Rengo Real Estate Project.

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Purpose Description

Real Estate has become a primary concern for many residents of the state. People want to own homes. Rengo has a unique offer of purely residential households in the serene environment. The plots lie in the escapement where the sun’s view, both rising and setting, is strategic (Blythe, 2009). The company can also redesign them to fit the new owner’s designs.

Integrated Marketing Communication

The integrated marketing communication would allow the use of the promotional mix. The application would considerably effective and implement the use of sales promotion, direct marketing, advertising, and personal selling. The public events would be essential in the later stages (Blythe, 2009).

Advertising

The organization would use the two mainstream media services because of their outreach. It would have weekly 1/4-page ads in the Sunday Ledger @ $5,100 for each edition. It means the Ads would run every Sunday (Espejo, 2010). They would include sample photographs of the homes and plot which would be alternating each week. The price, location, and the value additions would be notable in the Ad. They would run for a whole year. The total yearly cost would be $153,000 as illustrated below;

Particulars Cost Per Unit Units Total Cost 12 Months Total Cost
Weekly Quarter Page Ads 5,100 8 Weeks $40,800.00 $153,000
Alternate Quarter Page Ads 5,100 22 Weeks $112,200.00

Radio spots on WBAL-AM would be a significant consideration. The radio would run two ads during the morning drive and another one during the evening drive (Kotler & Armstrong, 2012). The ads would run five days each week for the first month and alternate every other week for the next five months. The next half of the year would have the ads run once each morning every other day (Espejo, 2010). They would cost the company $ 117,451 as illustrated below;

No of Radio Spots Ads Days Total Ads Cost 12 Months Total Cost Cost Per Ad
First Month 3 Ads Daily for 30 Seconds each 20 60 $17,977.20 $117,451 $299.62
5 Months Ads 3 Ads Alternate weeks 50 150 $44,943.00
6 Months 1 Ad per day 182 182 $54,530.84

Sales Promotion

The company would offer 5% deduction on the price cash buyers. It would also give one plot, 1/8 of an acre, to a group, company or individual who buys eight homes in cash. For clients who have 50% deposit, Rengo would provide financing services through an internal Sacco after membership registration and three months commitment.

Direct Marketing

Every customer who comes to the office will get a catalogue. Those who give their emails would receive them in their inboxes. The real estate projects would be available on the company’s website. The website would be www.rengo.co.ke. Anyone can become a member by registering through an online form and filling their email (Kotler, 2009). Every member would receive updates on the projects available plus educative materials.

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The company would employ the use of social media like Facebook, Twitter, and Instagram. Updates would be available on a daily basis and clients can interact with the social media personnel. Clients who leave their mailbox address would receive the physical brochures and catalogues. The company would also create and use a WhatsApp group and include all contacts for updates. All the updates on the media would be on a daily basis (Espejo, 2010).

Personal Selling

The company would train some staff on the role of personal selling. About 50 officers would be available for this category. The training would take a week for the team, and they would be deployed to go to offices in the nearby town. They would carry company brochures, notebooks, diaries and free promotional materials. The company would also make t-shirts and caps for them with the company logo. They would also carry their staff identification badges.

Office visits would be on Tuesdays and Fridays. Residential visits would be on Saturdays and Thursdays. They would also visit recreational parks and speak to people at their comfort moments. The staff would also have targets (Mathieson, 2010). They have to take customer’s contacts and notes for follow up. Every team that brings ten potential buyers would get staff bonus of 2% of their salary. Any team that brings five cash buyers would get 3% bonus on the income from the sale. Any team that brings clients that register to the Sacco for financing would get 1.5% bonus.

Target Market

The company would accept a purchase from anyone who comes and has the intention of buying. However, the purpose of the promotion is to target the workers who are looking out to own their homes (Kotler, 2009). Another important target group is the businesses that want to acquire homes for their staff. The workers are an important group because they are looking for a means to settle down after employment. Some companies would want to give their employees a place to live, and this is a great opportunity (Mathieson, 2010).

Conclusion

After all the marketing plans, the company would evaluate them at the end of the year. The best selling mechanisms would be enhanced. The promotional mix of the company would ensure high sales and the results would be measured.

References

Blythe, J. (2009). Key concepts in marketing. Los Angeles, Calif: SAGE.

Espejo, R. (2010). Advertising. Detroit, MI: Greenhaven Press.

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Kotler, P. (2009). Marketing management. Toronto, Canada: Pearson Canada.

Kotler, P. & Armstrong, G. (2012). Principles of marketing. Boston, MA: Pearson Prentice Hall.

Mathieson, R. (2010). The on-demand brand. New York, NY: AMACOM.

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StudyCorgi. (2020, December 25). Rengo Real Estate Project Marketing Strategy. Retrieved from https://studycorgi.com/rengo-real-estate-project-marketing-strategy/

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StudyCorgi. "Rengo Real Estate Project Marketing Strategy." December 25, 2020. https://studycorgi.com/rengo-real-estate-project-marketing-strategy/.

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StudyCorgi. 2020. "Rengo Real Estate Project Marketing Strategy." December 25, 2020. https://studycorgi.com/rengo-real-estate-project-marketing-strategy/.

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