Marketing Process of promoting, selling, and distributing a product or service.

MarketingMarketing

Process of promoting, selling, and distributing a product or service

RLI - AgriLand Brokerage and Marketing

8-2

ObjectivesObjectives

List the steps to identify the target market Explain the process for segmenting the

market Describe the elements to be included in a

formal presentation List ways to package a property Understand how to obtain financing

RLI - AgriLand Brokerage and Marketing

8-3

Identifying The Target MarketIdentifying The Target Market

Two stage effort Highest and best use identified Selection of target

individualssyndicates investorsdevelopers

RLI - AgriLand Brokerage and Marketing

8-4

The Segmented MarketThe Segmented Market

List of prospective, qualified buyers Other determinants

locationbuyer demographicsoverall market scale

RLI - AgriLand Brokerage and Marketing

8-5

Qualified BuyersQualified Buyers

Previous client contacts Fellow brokers

RLI - AgriLand Brokerage and Marketing

8-6

Group Activity 8-1Group Activity 8-1

Group Discussion 8-1: Targeting the market. Ask each student to devise a strategy for their firm as theyestablish the target market for a property. Each student in turnthen identifies and explains their first strategy. This discussioncontinues until strategies begin to repeat.

RLI - AgriLand Brokerage and Marketing

8-7

Selling The SellerSelling The Seller

Adopt seller’s point of view Contacts? Use firm that sold property Recommendations Reputation

RLI - AgriLand Brokerage and Marketing

8-8

Firm ImageFirm Image

Logos Signs Correspondence Internet presence Advertisements

RLI - AgriLand Brokerage and Marketing

8-9

Packaging The PropertyPackaging The Property

Property is available Why it should be considered

lowest pricelargest / smallestclosestmost quiet / picturesqueutilities

RLI - AgriLand Brokerage and Marketing

8-10

Marketing CampaignMarketing Campaign

Signs on property Newspaper / publication advertisements Direct mail Website MLS Radio / TV

RLI - AgriLand Brokerage and Marketing

8-11

PackagePackage

Formal presentation Brochure Advertising

RLI - AgriLand Brokerage and Marketing

8-12

Formal PresentationFormal Presentation

Physicallocation soilsdrainagetopographyimprovementsaccess (transportation and utilities)

RLI - AgriLand Brokerage and Marketing

8-13

Formal PresentationFormal Presentation Economic

pricetermstaxesyields (crop base)local marketscomparable salesprojected incomeactual operating figures

RLI - AgriLand Brokerage and Marketing

8-14

Formal PresentationFormal Presentation Legal matters

legal descriptionname of ownerencumbranceszoning water and mineral rightsdate of possessioneasementspermitted uses

RLI - AgriLand Brokerage and Marketing

8-15

Formal PresentationFormal Presentation

Socialschoolsfire protectionlaw enforcement

RLI - AgriLand Brokerage and Marketing

8-16

ContentsContents

Table of contents Listing of major property factors Description and price Analysis of land and improvements Income analysis Location analysis Statement of limiting conditions

RLI - AgriLand Brokerage and Marketing

8-17

Brochure and Advertising Brochure and Advertising

Brochure — Summarizes formal presentation

Advertising institutionalfirm nameproperty

RLI - AgriLand Brokerage and Marketing

8-18

Property AdvertisingProperty Advertising

Signs Letters Newspapers and other publications Electronic media (no spam)

RLI - AgriLand Brokerage and Marketing

8-19

Securing FinancingSecuring Financing

SourcesFarm Credit System (FLCAs, ACAs, etc)sellerscommercial bankslife insurance companies

RLI - AgriLand Brokerage and Marketing

8-20

Module 8 ReviewModule 8 Review

List steps to identify lawful target market

property analysisselect target buyer

RLI - AgriLand Brokerage and Marketing

8-21

Module 8 Review Module 8 Review

Explain process for segmenting the market

geographicdemographicscale

RLI - AgriLand Brokerage and Marketing

8-22

Module 8 Review Module 8 Review

Describe the elements to be included in the formal presentation

attractive photosphysical economiclegalsocial

RLI - AgriLand Brokerage and Marketing

8-23

Module 8 Review Module 8 Review

List several ways to package propertyformal presentationbrochureadvertising

Advertisinginstitutional, firm name, and property

RLI - AgriLand Brokerage and Marketing

8-24

Module 8 Review Module 8 Review

How to obtain financingFarm Credit Systemsellerscommercial bankslife insurance companies

RLI - AgriLand Brokerage and Marketing

8-25

Self Assessment Questions Self Assessment Questions The two stages of marketing are. Which is an item contributing to firm’s image. The three types of advertising are. Physical data about the property includes what. Sources of farm and ranch loans. What is an ACA.