Price and Promotion Strategy

This chapter covers topics related to pricing and promotional strategies in real estate development. Price strategy primarily involves methods used for real estate appraisals, including both residential and commercial properties. Promotion strategy is about message and media decisions—what message to disseminate and through what channels of communication. This chapter is designed to help students of real estate marketing learn: the factors that influence the price of real estate how real estate appraisers go about assessing the market value of real estate properties key message decisions in real estate promotion how real estate marketers use positioning by aspects of the customers how real estate marketers use positioning by aspects of the product how real estate marketers use positioning by aspects of the firm key media decisions in real estate promotion how to develop a real estate promotion plan how to make an audience selection decision in the context of the promotion plan how to identify goals for the promotion plan how to identify the core message and slogan of the promotion campaign how to select among the multitude of media possibilities to disseminate the message to the target audience how to develop a media schedule in the context of the promotion plan how to select measures for evaluating the effectiveness of the promotion campaign and how to use these measures to set concrete objectives for the promotion campaign