D05 Principles and Practice of Marketing

As verbatim from “Rules and Guidelines to Part I & II Estate Agent Examination (2nd Edition – 1 Jan, 2005)”.

Marketing defined.

Objective of marketing.

Marketing – selling, marketing planning and strategic planning in the professional practice.

The market – the current market, the consumers of property, demand, estimating current demand and estimating future demand.

The product – the buyers, the property life-cycle, presentation of premises, product pricing and new product development.

Market research – property development, the role of market, market research procedure, implication for the property profession and the use of a research agency.

Market segmentation and targeting – market segmentation, targeting and implications for estate agents.

Market tools – advertising, public relations, sales promotion, budgeting, monitoring and control.

Selling – what is selling? Implication for the commercial practice, sales management and the sales office.