Real Estate Marketing

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Marketing plays an essential role in real estate as it does in all business. The purpose of this ... Russell S. Winer, Marketing Management, 3rd ed. Upper Saddle ...
Zicklin School of Business Baruch College The City University of New York RES 9940 Real Estate Marketing Professor: Office: Office Hours: Phone: E-mail: Course Description Marketing plays an essential role in real estate as it does in all business. The purpose of this course is to examine the basic principles of marketing and to consider how they apply in the real estate context. In that regard, real estate is a product with similarities to other products, as well as also differing in many relevant aspects. Building on the understandings of similarities and differences, key aspects of marketing strategy as it applies to real estate will be considered. In addition, variations in the role of marketing as related to the particular sector of the industry and segment of consumer or end user considered (e.g., apartment versus office properties; household consumers versus commercial consumers) will also be investigated. International aspects will also be considered since many real estate firms operate globally in terms of ownership, brokerage and/or other services provided. Finally, professional ethical issues will be addressed throughout the course in terms of the various aspects of marketing where they arise, such as in the ethical conduct of marketing research, treating clients fairly and dealing responsibly with other publics and stakeholders. Prerequisite: None

Course Materials Russell S. Winer, Marketing Management, 3rd ed. Upper Saddle River, NJ: Pearson Harvard Business School Cases (order online). Case: Hongkong Land Holdings Trust Ltd: Strategic Repositioning of Real Estate Assets Case: Security Pacific Capital Trust: A Case for Branding Case: Selecting a New Name for Security Pacific Capital Trust Case: Discount and Hawkins: Critical Moments, Full Transcript Marketing Plan Pro (software) Other readings are available through the Baruch College’s Newman Library

Marketing Plan for a Real Estate Firm or Project This assignment consists of working in teams of four or so to construct a marketing plan for either a Real Estate firm as whole or development project in particular. Each team will choose a topic in consultation with the Professor. The marketing aspects of the plan will reflect the strategies, marketing mix, and

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consumer/organizational buying behavior, topics, among others, we consider in class. The real estate aspects will reflect the class readings relating marketing and real estate, as well as other course work and experience you bring to the table. A software package, Marketing Plan Pro, will be used in the development and presentation of your plans. The finished project will consist of a document to be handed in by the last class, as well as a class presentation. 50% of the Marketing Plan grade will reflect the written document and 50% the presentation.

Grading Class participation Case Work (written and oral) Group Project Final Exam

10% 15% 45% 30%

Course Outline and Schedule Topic

Readings and Cases Weiner: Chapter 1

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Introduction

Case Studies In Real Estate Marketing White, Janet. Journal of Property Management. Chicago: Nov/Dec 1989. Vol. 54, Iss. 6; p. 12 (4 pages) Survival Kit for Hotel Owners Robyn Taylor Parets. National Real Estate Investor. Atlanta: Dec 2004. Vol. 46, Iss. 12; p. 46 (3 pages) Weiner: Chapter 2

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Marketing Strategy

Third Party Asset Marketing For Financial Institutions Lipscomb, Clayton F., Berger, Stacey M.. Real Estate Finance. New York: Winter 1989. Vol. 5, Iss. 4; p. 39 Case: Hongkong Land Holdings Trust Ltd: Strategic Repositioning of Real Estate Assets Weiner: Chapters 3 and 4

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Marketing Research, Ethical Issues, and Consumer Behavior I

Modern marketing research techniques and the property professional Levy, Deborah S., Property Management. Bradford: 1995.Vol.13, Iss. 3; pg. 33

Improving Real Estate Market Research Pittman, Robert H., Thrall, Grant I.. Real Estate Issues. Chicago: Spring/Summer 1992. Vol. 17, Iss. 1; p. 1 (7 pages) Weiner: Chapter 5 4

Consumer Behavior II and Organizational Buying

A marketing perspective of private sector retirement housing and the effectiveness of the buyer behaviour of its purchasers Martin Livette. Property Management. Bradford: 2006. Vol. 24, Iss. 4; p. 383

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Application of family life cycle concept in determining potential segment for housing projects: Case study of two downtown projects in Florianopolis, Brazil Joao Alberto da Costa, Ganzo Fernandez, Roberto de Oliveira, Norberto Hochheim. Property Management. Bradford: 2002. Vol. 20, Iss. 5; p. 312 (14 pages) Industrial recruitment and economic development: a comparative analysis of competing south-eastern cities using perceptual mapping Troy A Festervand. The Journal of Business & Industrial Marketing. Santa Barbara: 2004.Vol.19, Iss. 7; pg. 460 Weiner: Chapter 6,

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Market Structure

Information and communication technology in the real estate industry: productivity, industry structure and market efficiency Max Kummerow, Joelle Chan Lun. Telecommunications Policy. Kidlington: Mar/Apr 2005. Vol. 29, Iss. 2,3; p. 173 The marketing activities of new golf developments in the UK and Ireland Shaw,Vivienne, Alderson, Justin. Journal of Marketing Practice. Bradford: 1995.Vol.1, Iss. 3; pg. 53 Weiner: Chapters 7 and 8

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Product

Case: Security Pacific Capital Trust: A Case for Branding

Weiner: Chapter 9 7

Pricing: International Perspective

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Communications

Time-Varying Macroeconomic Risk And Commercial Real Estate: An Asset Pricing Perspective Kim H Liow. Journal of Real Estate Portfolio Management. Boston: Jan-Apr 2004. Vol. 10, Iss. 1; p. 47 (11 pages) Weiner: Chapter 10 Case: Selecting a New Name for Security Pacific Capital Trust Weiner: Chapter 13

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Personal Selling and Ethical Conduct

Re-examining Salesperson Goal Orientations: Personality Influencers, Customer Orientation, and Work Satisfaction Eric G Harris, John C Mowen, Tom J Brown. Academy of Marketing Science. Journal. Greenvale: Winter 2005. Vol. 33, Iss. 1; p. 19 (17 pages) Case: Discount and Hawkins: Critical Moments, Full Transcript Weiner: Chapter 14

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Customer Relationships

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Services Marketing and International Issues

Analyze this! Diagnosing the relationships of clients and consultants Martha G Rayle. Journal of Facilities Management. London: 2005. Vol. 4, Iss. 1; p. 51 (12 pages) Weiner: Chapter 15 Real estate agency in China in the information age 52

Ling Hin Li, Chen Wang. Property Management. Bradford: 2006. Vol. 24, Iss. 1; p. 47 (15 pages) 12

Project Presentations I

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Project Presentations II

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Final

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