Marketing Functions in Property Business Q7

Thomas Sim PEA2066

Q.
(a) Briefly explain two (2) marketing functions in a property business. (10 marks)

(b) Describe four (4) general steps in conducting a property market research. (15 marks)

(25 marks, 2015 Q7)

(27.09.2015)
A.
(a) 2 marketing functions in property business. Similar question was asked in:

2011 Q2 - common marketing functions in real estate.

From Hamid, 2002.

  1. Exchange function. Exchange functions are those activities involved in the transfer of title to goods or delivery of services. Eg. Sales and Tenancy, contract management.
  2. Facilitating function. Facilitating functions are those activities that make possible the smooth performance of the exchange functions. Eg. legal services, banks,

Ref:
Abdul Hamid, Mar Iman (2002) An Introduction to Property Marketing. Penerbit UTM. Page 6-7.

(b) 4 general steps in conducting property market research. Similar question was asked in:

2011 Q6 - various processes involved in conducting a market research for a proposed vacant development site.

4 steps are:

  1. Defining the problem and research objectives
  2. Developing research plan
  3. Implementing research plan - collecting and analyzing data
  4. Interpreting and reporting the results.

Ref:
Abdul Hamid, Mar Iman. 2002. An Introduction to Property Marketing. Rangkaian Pelangi Sdn Bhd. Page 332-340.