Collinto Property: Achieving a Leading Position in Global Real Estate Development - Essay Sample

Introduction

Collinto Property is a hypothetical real estate company which aims to become one of the leading real estate developers in the U.S. and other parts of the world. The objective is to create lifestyles that will change how their clients live, work and play through continuous innovation and affordable developments. The company is expected to hire executives and senior managers with significant experience in the real estate sector with a specific focus on estate sales, property management and investment consulting. This will help create a unique niche in the market and help grow its market base. The ideas of the company are futuristic and will help the existing and upcoming investors get a return on investment within a short duration. To achieve this, strategic locations close to fundamental amenities, payment plan, and costs will be the key bargaining point in the real estate market. Before setting foot into the market, it is essential to note that there are numerous challenges in the real estate sector ranging from fluctuating economic situations, job growth, and interest rates. Besides the nature of the market, however, the stakeholders at Collinto Property can apply to propel their objective forward.

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Concept of Strategic Sales and Marketing Plan

The concept of strategic sales and marketing plan analyses specific markets that a business expects to target with the set sales and marketing approach. It discusses in details the tactics and tricks the business expects to use to reach their target market and increases its market share (Cravens & Piercy, 2006). For the case of Collinto Property, the tactics will include advertisement and brand activation. The most effective approach includes in-depth market analysis, budget and time frame. The concept will be fundamental in helping the company track its progress in the market towards achieving the set sales and market goals. The strategic sales and market plan will also help the stakeholders understand its strengths and weaknesses along with the activities that can be used in overcoming the weaknesses. Lack of a strategic plan in an organization will lead to failure of this new business within a short timeline. Those in charge of the sales and marketing of the different real estate products will make hasty decisions, which, affects the normal operations.

Big corporations have in-depth and well-researched marketing plans that include many pages and divisions. On the other hand, smaller business entities have smaller marketing plans and budgets. Nevertheless, there is a need for all organizations, big or small, to undertake intensive market research, understand the market and document their strategies for all the stakeholders to understand. This means that the brevity of plans for the smaller business entities cannot be neglected in the sense that writing one is not important. The plan should include the approaches to be used for the entire year. Besides the plans for messaging in a sales and marketing strategy, there is a need for brand awareness. Depending on the existing demographics, the business should outline the time the organization will use the different advertisement platforms (McDonald & Wilson, 2016). Using different advertisement approaches will help the stakeholders understand what the consumer prefers. This means that the sales and marketing concept should include both qualitative and quantitative approaches which Collinto Property will utilize to assess their marketing campaign.

The strategic sales and marketing plan also has the aspect of pricing. This involves the algorithm used in getting the figure. There are numerous elements that are considered when doing pricing. For the case of the real estate sector, the price should not only consider the actual costs of construction, but it should include the payroll for the employees at the company and other expenses. Consumer needs, competition, and other economic factors must be considered when deciding the prices for the goods and services. The sales and marketing budget should also be included in the overall prices of the goods. It is important to note that this makes the most significant percentage of the organization's budget, either small or big. Every tactics and approach outlined in the sales and marketing plan need to specify the budget allocated. As the marketing and sales campaign progresses to an advanced level, more funds are shifted from the less effective tactic to the most successful ones (K. Chau, I. Chan, & Webster, 2017). This gives the team sufficient time to restructure their tactics and achieve maximum results. The overall success of Collinto Property will depend on the sales force, international marketing workforce, how the global sales force will be managed and having an effective marketing manager to pull together all the resource and achieve sustainable development.

Recruiting the Sales Force

Every company requires a workforce that helps them achieve their set market goals and objectives. This means that every company desires to hire the best of the best personnel with the right skills and expertise who will always input the interest of the organization first to ensure the goals are achieved. This means that selecting the best sales force for Collinto Property will help increase market share and profit volumes. In relation to sales personnel, it is important to note that the success of sales and marketing is a matter of teamwork rather than the individual effort put in place. Thus, it will be one of the most fundamental activity in helping the organization drive sales revenue. In the real estate sector, the sales force is very important because it helps accomplish fundamental goals, both primary and secondary. Primarily, the process helps the organization fill positions and ensure that those mandated to fill the positions have the right skills, traits and expertise for the job (K. Chau, I. Chan, & Webster, 2017). The secondary reason for recruiting the sales force is to achieve high-performance levels, employee commitment in performing their functions and increase revenue. Many real estate companies across the globe rely on the sales force to achieve their set profit rations. At the same time, the sector suffers a high turnover rate, which is linked to remuneration and job satisfaction. There is an incredibly high turnover rate, which has been detrimental to the financial welfare of the sector. Turnover affects the existing relationship with the clients, which will eventually create a ripple effect on the overall sales revenue and the success of the company. This calls for the need to hire the most qualified employee.

The real estate sector requires specific knowledge and skill which can be used to negotiate and close business deals. In the U.S. for instance, employment skills are often highlighted on the license. Getting the license requires that the person demonstrate significant knowledge and expertise on real estate market through an assessment test (Lang, Ruscheinsky & Hausler, 2017). Knowledge is acquired through education and continuous training. Sales exams is given by the state where the person intends to practice. At the same time, applying for the license requires that the person get sponsorship from a real estate company that operates in that specific state. The assumption is that after the exam, the person can decide to join the sales organization. The salesforce should also demonstrate some level of expertise in personal selling it is essential to acquire experience directly linked to real estate sales as this will play a critical role in facilitating the negotiation, communication, and prospecting. The success of Collinto Property in other countries will solemnly depend on international negotiators. Multi-lingual managers can easily understand how business is conducted in different cultures and align these cultures with the organization's vision statement. The selection of the sales force is such a fundamental task in the real estate sector without flexibility, empathy, skills, and knowledge; Collinto Property will fail within a short timeline.

Training for International Marketing

A competent global marketing manager is fundamental to the success of any business entity intending or operating on the worldwide market. Many studies reveal that using local talent (host-nation) remains to be the most effective method of selecting and training domestically based global marketing manager. This means that the domestically based international marketing personnel is the most viable option for the expatriates. After a decision is made on training a domestic-based global marketing manager, the real estate company will decide if the existing personnel can perform and grow the business venture. There is a universal cliche in the business world which states "think globally, act locally". This will help Collinto Property gain access to international markets more easily since the use of the locals as managers will blend smoothly with the local citizens.

For international marketing professionals in the real estate sector, there are skills which can taught while others are difficult. Personality traits like cultural adaptability and ethics in different geographical areas cannot be taught. These attribute can only be acquired through adaptability in an area and exposure level to different cultural backgrounds. This means that employees with a foreign internship or any other form of heterogeneous cross-cultural experience can be prospective candidates. Aspects of psychological maturity and language proficiency will also play a critical part in facilitating training for international marketing (Finch, Abeza, O'Reilly, & Hillenbrand, 2018). Knowledge of economic conditions, trade regulation related to the real estate sector and cultural practices can be trained through public programs, which helps the trainees bond quickly with the locals and assimilate with them easier. There will be a need to conduct intensive market research on the foreign market to understand the nature of the competitors, specific consumer needs and product requirements. This is because consumers in the real estate sector have specific and dynamic needs which, if offered, will provide a winning edge for Collinto Property.

Information on the training of international marketing plays a critical role in helping global corporations differentiate and develop competent marketing managers who can work in any socio-cultural background. At the centre of the training is the universality of the needed skills and expertise added with a few regulations in the real estate sector. The regulations vary across different countries but do not make a significant difference to the whole picture. Cultural and social competence still dominates when it comes to working on an international platform.

Managing a Global Salesforce

The global sales force has been faced with high turnover rate. This has been disastrous to the financial wellbeing of many companies that rely on sales to succeed. The effectiveness of the global sales strategy determines the success of every organization but, keeping sales at the apex of the game is a significant challenge. This calls for the need to combine both strategic insight and pragmatic advice from business leaders. Effective management process starts at creating a winning sales force that uses current tactics and installing motivating leadership. The leadership should provide innovative solutions to some of the most common issues in the contemporary sales environment. In the real estate sector, the leaders will play a critical role in helping people succeed, encouraging progressive professional growth in matters of asset management and real estate management. A good leadership framework will not only propel sales,...