Marketing is one of the terms in academia that does not have one commonly agreed upon definition. However “in a nutshell it consists of the social and managerial processes by which products, services and value are exchanged in order to fulfill individual’s or group’s needs and wants”(www. wkipedia. org). Small and Medium Enterprise (SME’s) are defined as businesses with less than 250 employees. SME’s play an important role in marketing as they are recognised as making a major contribution in innovation and employment.
This piece of work will be focusing on two SME companies: Ludlow Thompson and Douglas and Gordan. We will aim to identify the nature of the marketing environement within which both of these companies operate, we will also analyse the internal and external marketing problems and develop solutions for overcoming such problems. Finally we will apply appropriate marketing techniques to these two companies contexts. a) Identify the nature of the marketing environment within which they operate Ludlow Thompson is an independent residential estate agency established in 1993 with nine offices across London.
Ludlow Thompson sold/let i?? 880 million worth of property just in last year alone (April 05-April 06). They are also the leading edge internet estate agency. “Which means they can find, let and sell property to more people than ever before. ” (www. ludlowthompson. com). It manages a substantial portfolio of residential developments in and around the south east and west of London and they continue to attract new clients daily. Their services include selling, letting, renting, buying, buy-to-let and financial services.
Douglas and Gordon, established in 1958 is a London firm that offers a comprehensive residential property service including estate agency, property management and professional services, they have 15 offices in central and south west of London. They opened up their new head office based in Warwick Square in May 2001. In 2006 the number of properties sold increased by 28% over 2005 level. These two estate agents do not engage in any other business practices, their main aim is to deliver the best possible service to both landlords and tenants giving clients peace of mind.
Their highly trained team has a broad skill base, which enables them to supply the relevant professional support at every stage of each transaction. Ludlow Thompson manages a substantial portfolio of residential development in and around the South East and West of London. They continue to attract new clients daily, ranging from private land loads and residential management companies to local, regional and national house builders (ludlowthompsom. com). Douglas and Gordon as an SME believe that team work is the key to achieving the very best price for them.
They like to maintain the highest professional standards by conforming to the guidelines of the industry’s leading organisation (Douglas and Gordon. com). Both estate agents operate in a fiercely competitive marketing environment. The marketing environment refers to the “forces that directly and indirectly influence an organization’s capability to undertake its business. A business has no direct control over these forces but they shape the manner to which the business functions and is able to satisfy its customers”. (www. tutor2u. net).