Estate agencies are the organisations which comprise of licensed professionals who do negotiation so as to make arrangements for buying and selling of houses, buildings, land, offices etc. (Hansen, 2017). This case study revolves around Estate Agency industry more commonly known as selling houses. It demonstrates deep study into a new application “Point and Know” coming up in this sector. This app is being launched to allow subscribers to point their smartphone at a “For Sale” sign or board and gain information about that house. It helps people in ascertaining number of bedrooms, price of house and the duration for which it had been on sale in market. This case explores the marketing mix of “Point and Know app and reflect its relationship with marketing communication. It consists of selection of target market along with justification for choosing that geographical location. Besides this, it comprises of ways to brand the app by enhancing relationship with people who possess the potential to become buyers.
Understanding The Basics (Stp)
“Point and Know” app is an innovation that has been brought forward within real estate industry with an aim to ease the experience of customers. The target market and customers for launch of this app is ascertained by using Segmentation, Targeting and Positioning (STP) Model which helps in gaining an insight into the target customer group (Agüera, 2019).
The market selected for launching the app is London, UK. The population of London is segmented on the basis of demographic characteristics. These include aspects like age, gender, education, occupation etc.
The people of London are divided on the basis of their education. This is so because Point and Know app makes use of advance technology and can be understood only by literate and educated people.
This refers to placing the app amongst people of London in a way that users can effectively make use of its services. The positioning of “Point and Know” app among people is further explored by studying Marketing Mix of this application.
The marketing mix is the collection of such factors which can be reviewed, monitored and controlled to persuade customers for making a purchase (Formulating The Right Marketing Mix For Your App: A Comprehensive Guide,2018). In relation to the launch of Point and Know app, it is essential that information about such an innovative application reaches the people in a timely manner. This will enable people to make use of the features of this app to gather relevant information about the house, its composition and pricing structure. The marketing mix of Point and Know app is done below:-
Point and Know app launched by estate industry is unique and creative. It is an excellent blend of technology and innovation. This has been done to ease the experience of customers so that they can gain relevant and important information about the house. The best element of this application is its reliability and validity. This app has been designed using a high-end technology which makes use of sensors to detect the 'For sale' sign and tell about basic characteristics and components of house. These include the quantum of rooms, price and duration of sale. All these help subscribers to collect necessary details.
This app facilitates users so as to reach at an important decision. This is in relation to whether or not to make a purchase of the house. By way of this advanced technology and innovation, millions of people can together use the app if they are around a saleable house. It is necessary that this app is promoted at a large scale level so that potential customers can make use of its features. Thus, the unique features of Point and Know app are communicated to educated personnel of London so as to persuade them in a positive way to make the purchase.
Point and Know app is launched in London with an aim to segment the population on the basis of their educational qualifications. This has been done to tap the advantage of large number of educationally and professionally efficient persons in London, UK. The literacy rate of persons above the age of 15 years in UK has constantly been 99% from 2008 to 2014 (United Kingdom - Adult (15+) literacy rate, 2017). Thus, London is selected for marketing and launching the unique and innovative mobile application. The creative and high tech features of Point and Know are communicated to population of London by using strong social media channels like Facebook, Instagram, Google+ and YouTube. By making use of this high-end technology app, subscribers can point at the 'For sale' sign of house and get to know relevant information about rooms and prices.
The marketing strategy used for effectively placing the application within literate and educated population of London is its pricing structure. Penetration pricing has been adopted to tactfully promote the app among potential customers. This is a strategy wherein the new service is provided at a low or negligible price in its initial stage. This is done to largely attract customers towards lucrative features of product or service. In relation to the new application launched for facilitation of ease within real estate industry, this strategy is used to gain a strategic edge over competitors. The focus is upon providing free of cost services to customers for some time so that users can gain full knowledge about the application and utilise it an effective manner to make decisions regarding purchase of properties. The “no pricing” strategy has mainly been used to entice the customers towards trying this new mobile application.
Point and Know is a unique and innovative app which is newly introduced within real estate sector. Being a high tech app having new features that ease the experience of subscribers and lead to savings of time, it is essential that it is promoted at a large scale. For this, social media platforms like Facebook, Instagram, Google+ and YouTube have been used. Also, assistance of Google AdWords have been taken to promote the app among the masses of London.
The interface of this application is a little complicated which is not easily perceivable and usable by persons. Thus, educated segment of customers within London are targetted for making this app a widespread success. Also, there is a section called 'manual' present within the mobile application that provides guidance to users in relation to how the app can be used to gain necessary details about properties.
Point and Know app has been created by use of high-end and expensive sensor technology. This is done to design and develop a creative app that can ease the experience of customers. Along with this, Point and Know is efficiently developed to provide necessary details about the property to users. This helps them in gaining information about various properties listed for sale within a specified area in London. Here you can get the help of essay writing service.
The interface and interior design of Point and Know app is made up of bright colours so as to lure the users to stay connected for a longer time. Also, a manual is present in the app that guides subscribers upon the handling and using of “Point and Know”. This app provides necessary details about the house just by pointing upon at 'For sale' sign. This has been made possible by using high end technology in the form of sensors within the application. This has been done to make it easy for people in London to deploy this app for gaining information about properties.
Agüera, M. D. L. S. Z., 2019. Understanding E-Marketing Strategies. In Handbook of Research on Entrepreneurship and Marketing for Global Reach in the Digital Economy (pp. 383-417). IGI Global.
Hansen, T. G. S., 2017. Development of a pricing tool for the real estate agencies in Copenhagen.
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