THE FOUR P’s OF MARKETING

Anyone who has taken a marketing course or even read a book on the topic has heard of the 4 P’s of Marketing – Product, Place, Promotion and Price – but how do they relate to property management?

Product

Your property is your product and you want to make a good first impression.  Curb appeal is the first and last thing visitors to your property will see and remember; so make sure to leave a positive impression by keeping up on landscaping and grounds clean-up.

Place

Unfortunately we can’t just pick up a property and move it, so figure out what your community offers that others don’t.  Does your community  have a fitness center or pool?  Are there parks nearby?  Does your location provide easy access to public transportation?  Think outside the box – what do prospects get excited about while visiting your property?  Keeping  a Competition Knowledge Notebook is a good idea to ensure you are up-to-date on your competition.

Promotion

The world of marketing and promotion has significantly changed over the past 12 months (not to mention the past few years).  Social media is a huge force that cannot be ignored, you can’t just “do things the way you used to” and purchase ad space in your local newspapers.

Research how your prospects are finding your property, it’s as simple as asking guests that come by – “where did you hear about us?”.   Take advantage of Cambridge provided marketing tools such as: your property website, brochures, flyers, and business cards!  Even better yet, do you have an idea for a marketing campaign that targets your audience?  Let the Employee Resource Center help, contact your property supervisor to learn more.

Price