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标题: Best address: the use of innovative marketing in the real estate industry

作者: Meyers, Yuvay Jeanine; Harmeling, Susan S

出版物名称: Journal of Research in Marketing and Entrepreneurship

卷: 13;期: 1;页: 74-84;出版年份: 2015;

出版物国家/地区: United Kingdom

ISSN: 1471-5201

Best address: the use of innovative marketing in the real estate industry

Meyers, Yuvay Jeanine; Harmeling, Susan S

Abstract

This paper seeks to explore the successful entrepreneurial marketing communications done by a small, residential real estate firm, Best Address LLC, in Washington, DC (USA). The goal of the study is to develop an understanding of best practices used by this firm that can translate into marketing tactics used by other small businesses. Qualitative research was conducted to investigate the tactics used by Best Address LLC along with an extensive academic literature search to provide support for the study's findings. Findings - The service quality portrayed by the firm's marketing communication efforts were examined and the key tactics used by this firm were categorized into three areas that fall in line with previous research on successful entrepreneurial marketing strategy. This paper concludes by presenting a theoretical model that conceptualizes service quality as a function of the marketing communications efforts executed by a firm in hopes of guiding entrepreneurs' activities towards positive consumer affect. This study highlights how Best Address LLC differentiates itself from its much larger competitors and provides key insights for successful entrepreneurial marketing strategy in the residential real estate business. Although there is a stream of academic literature regarding entrepreneurial marketing, there are few cases such as this one that present the marketing communications tactics successfully used by a small firm. Entrepreneurs hoping to venture into the real estate industry would benefit from the findings of this study.

Key Words: Innovative marketing; Real estate industry; Marketing

Introduction

Entrepreneurs often fail to plan strategically and differentiate themselves on service quality despite their best intentions as they become occupied with short-term, day-to-day tasks ([38] Quinton and Harridge-March, 2006). In addition, due to budget constraints, and lack of expertise, they may fail to take advantage of technology to support both operations and marketing ([35] Fillis et al. , 2004). This paper highlights the way Best Address®Real Estate, LLC, a residential real estate start-up in the Washington, DC (USA) metropolitan area, has planned strategically and provided excellent service quality, differentiating itself from competitors through the use of new technology and a comprehensive approach to marketing for all its customers - buyers and sellers alike.

Like most successful, small firms that are focused on entrepreneurial marketing, Best Address® Real Estate, LLC is "constantly scanning the environment to discover or create new opportunities, assessing these opportunities and then exploits these opportunities successfully creating and renewing