Marketing Comparison Paper In Relation To Real Estate
Introduction
The intensified growth and development of information communication and technology has led to tremendous and dramatic changes in the way business is conducted in the global market. Development of information communication and technology has affected various diverse sectors of the economy. These developments have led to simplification and improved efficiency and effectiveness in carrying out business activities. The increased efficiency and effectiveness has led to reduced costs of operating business, which have led to increased profitability of business enterprises. This paper will seek to establish the relationship of the business marketing model such as the business-to-business (B2B), business-to-customer (B2C) and brick and mortar in relation to the real estate sector.
This analysis will provide an analysis of the relationship between the landlord and the tenants and models B2B, B2C and brick and mortar store. The improvements in information communication and technology have also led to improved efficiency and effectiveness in the real estate industry. This has been due to improved communications between landlords and the existing and prospective tenants. In addition, the improved information, communication and technology have enabled the landlords in outsourcing various other activities such as cleaning and collection of garbage at ease. In most cases, before development of information communication and technology, the landlords had to incur the high cost in looking for these service providers. In addition, there were various agents that aided landlords in outsourcing these activities. These inefficiencies led to an increase in cost of operations and increased inefficiencies in the operations and delivery of quality service.
Unlike in the products or goods market where there are middle men providing the link between customers and the consumers, the real estate industry similarly has agents connecting the landlords and tenants. This leads to an increase in the costs of operations, which are transferred to the tenants in the form of higher rents. There are also middlemen linking the service providers and the landlords. However, the development of information, communication and technology has supported the formulation of new approaches used in reducing the linkage between the middle men and the landlords.
Business-To-Customer (B2C), Business-to-Business (B2B) and Brick and Mortar
Prior to the improvement and development of information communication and technology, the operations of business were basically in a physical office. Landlords had to establish physical offices in towns or in their buildings and tenants and other service providers had to visit the offices physically to transact business. However, the introduction of information communication and technology has led to transformation of how business is conducted by the landlords.
The development of information communication and technology has led to the emergence of two major business marketing models, which include the business-to-business (B2B), business-to-customers (B2C). These approaches are far better than the traditional brick and mortar as the landlord, and other parties can transact business online. This has led to improved efficiency and effectiveness in the conduct of business as a landlord does not have to put up physical offices from where they can operate. Landlords are able to advertise their houses and provide details of the houses online without having to meet the prospective tenants physically. In addition, they are able to take photos of the exterior and interior designs, which the tenants are able to view without having to travel to the premises.
Business-To-Business Models in Real Estate
The B2B sites in real estate are more focused on building long lasting relationships with other business. Unlike business-to-customers that are aimed at attracting tenants in the premises, business-to-business is aimed at ensuring the development of the relationship between the businesses. The business-to-business presents a sophisticated relationship where the buyer business has more information than the selling business. For example, as a landlord when selecting a service provider, one has to evaluate various competing firms in terms of quality of services and prices. The target market in the B2B model is quite small as compared to the B2C. However, they must provide detailed information as they have to ensure development of trust, commitments which will lead to the development of long-term relationships.
For example, service providers avail the details of the services offered and charges of such services. This enables the landlord to identify the most appropriate service provider, in terms of competitiveness in price and quality of services offered. The information provided must be detailed enough to pursue the buying business that it is getting quality for its money. This is due to the fact that, as the landlord, one will seek to contact the most competitive firm in terms of price and quality of services provided. There has been increased personalization of the B2B sites, where the organization provides emails and direct contacts and address in reaching prospective customers. The B2B business sites have appealed more to customers, as compared to the business-to customers. For example, those offering services such as cleaning and collection of garbage among other services have to ensure the customization of their services to suit what the landlord needs.
Business-To-Customers Models in Real Estate
The B2C sites primarily focus on the consumers, establishing the needs and desires of the consumers. They develop strategies that will persuade customers into buying their products. For example, in the real estate, the landlord may provide websites that illustrate spectaculars features of the house's interior and exterior designs, which are attractive to the tenants. For example, the landlord B2C site contains details of the houses such as spacious kitchen, dining, living and bedrooms. In addition, the landlord avails features of smart interior and exterior designs which persuade prospective customers to live in such houses. On the identification of the target market, the landlord includes various features on the site such as aspects of affordability and availability of other amenities such as schools hospitals and other social amenities.
The landlord site usually employs a product based site where the landlord provides details of the houses offered to the solutions between landlords and tenants. This is due to the fact that landlords are able to identify and outline their duties and responsibilities as prescribed by law. In addition, they provide the details of tenants’ responsibilities and duties in their period of stay in the premises. Resolution of conflicts between tenants and the landlord have also been made possible through terms and conditions also availed in the sites. However, the first face of the sites provides attractive and persuasive features of what is being offered. The B2C has led to tremendous improvement in the management of property due to increased effectiveness and efficiency.
References
Dillahunt , T., Mankoff, J., & Paulos, E. (2010). Understanding Conflict Between Landlords and Tenants:. Retrieved May 16, 2013, from http://www.tawannadillahunt.com/wp-content/uploads/2013/01/Understanding-Conflict.pdf
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