REM 500 Lecture Notes - Lecture 10: Shea Homes, Marketing Strategy, Loan Guarantee
21 Sep 2016
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What is happening at this point: marketing strategy is executed, end users are found for the property, we now build on the marketing work from earlier phases. Phases 1 to 3: marketing research (potential users, needs, willingness to pay) Phases 4 to 5: marketing strategy formulation (optimal path, contract negotiation, sign contract: marketing staff (in house or external) include: Sales and leasing professionals (commission based or salaried) All costs here are part of soft costs. Developer"s roles: make sure marketing team understands project concept and target market, understand soft (promotion) and hard (contractual) challenges of marketing. Timing is key (shorter absorption time = lower time related carrying costs: early marketing = decreased change market will divert from benefits. November 27th, 2015: social dynamics, character, values, commitment to execution, quality of life, unique experiences. A vision puts all of the above together.
