1) Identify three different target markets and their needs Market Need 1 Residential Property Owners Professional and...
Question:
1) Identify three different target markets and their needs
| Market | Need | |
| 1 | Residential Property Owners | Professional and reliable property management services for their rental properties |
| 2 | Commercial Property Owners | Efficient and cost-effective management of their commercial properties |
| 3 | Condominium Corporations | Comprehensive management services for their shared areas and facilities |
2) Identify products and/or services that your company may be offering for each market
| Market (same as above) | Product or Service | |
| 1 | Residential Property Owners | Tenant screening, lease agreements, rent collection, maintenance, and repairs, and 24/7 emergency services |
| 2 | Commercial Property Owners | Tenant management, lease agreements, rent collection, maintenance and repairs, and regular property inspections |
| 3 | Condominium Corporations | Financial management, property maintenance, security, concierge services, and vendor management |
3) Determine the competition for each of your target markets
| Market (same as above) | Competition (Toronto based) | |
| 1 | Residential Property Owners | Highgate Properties |
| 2 | Commercial Property Owners | Colliers International |
| 3 | Condominium Corporations | Del Condominium Rentals Inc. |
Using the above topic and information need answer below
6) Develop strategies that match Strength/Weakness with Opportunities/Threats including marketing determining the appropriate marketing mix covering 4Ps for products and 7Ps for services plus 2 Extra Ps for Punctuality and Principles:
1. Product/Service: description, features, what need will serve
2. Price: to be charged for such a product and/or service
3. Place (or location/distribution): how will you reach your customer ?
4. Promotion: how will your customers know about you
5. People: their knowledge, skills, and talent
6. Process: which primarily focus on smooth operations and customer experience
7. Physical Evidence of Quality: it is important to prove to customers that they will have quality product/service
8. Punctuality: it is important to provide a product/service to customers in a timely fashion
9. Principled: What values would the company like to convey when it present itself to all stakeholders?
Expert Answer:
Answer It seems like youve shared a set of questions related to general management specifically focusing on identifying target markets productsservice... View the full answer
