Strategic Planning for Marketing

By Schindler, Martha | Journal of Property Management, November-December 1992 | Go to article overview

Strategic Planning for Marketing

Schindler, Martha, Journal of Property Management

Marketers have an old saying: "Nothing happens until somebody sells something." But while that old saying might bring lots of applause at sales meetings, the fact of the matter is this: Nobody can sell anything until somebody figures out what, and to whom, they're selling.

Enter the strategic plan, a pre-sales strategy that marketers in virtually every business develop before doing any marketing at all; no ads are created, no deals are made, until the product has been evaluated objectively and its exact place within the market defined. That is the only way, experts agree, that a product can be priced, positioned, and presented effectively.

Among real estate marketing professionals a similar strategy prevails. Indeed, before targeting any prospects or making any repairs or improvements to a property in the hope of luring tenants, most property owners and managers are sitting down with marketers and other experts to develop a comprehensive analysis of every property they handle.

According to Ken Erdman, a property manager with Trizec Properties Limited, Alberta, Canada, strategic plans have become the rule, not the exception, in today's real estate markets. "A strategic plan is simply a necessity just to survive right now," he says. "It's a necessity to get and keep your staff working in the same direction."

Erdman contends that strategic planning is the key to effective use of managers' resources, both human and cash. "No longer does the title to a property guarantee uninterrupted cash flow," he says. "The reality is that only a total commitment to marketing the building will keep your tenant." And a strategic plan is crucial to effective marketing: "It teaches you how to be an attacker, rather than a defender, of your building's market share."

Managers should regard strategic planning as a necessary stop on the marketing path: developing a game plan before spending money or possibly wasting effort on a misguided attack. According to James Mullahy, president of The Mullahy Company, a real estate marketing consulting firm based in Philadelphia, the strategic plan helps managers answer one simple question: "'Why should somebody want to lease here?' When you can answer that question," he says, "then you're getting close."

Wade Greene, senior vice president and director of marketing for Rubloff, Inc., Houston, suggests that a good strategic plan will help managers better serve both tenants and owners.

"We get everybody involved in developing a plan for positioning an asset in the marketplace and coordinating all of our strategies," he says. "It becomes a working document that just makes for better communication between ownership and management."

An effective strategic plan has several components, including an objective evaluation of the property and an indepth analysis of competing properties. In addition, the plan should contain some numbers: rent structures, a line-item evaluation of the property's budget, and capital market information. Some experts also are recommending that managers take a close look at a property's tenant profile in order to better understand its appeal to tenants or tenant companies.

Assessing the property

At the heart of any strategic plan is a thorough analysis of a building's facilities and amenities.

"Step one is to study the product," says Josh N. Kuriloff, a director with Cushman & Wakefield, New York City. "In order to know how to compete against the other properties that a prospective tenant may be looking at, you have to look at the strengths and weaknesses of your real estate. This, to me, is the most important part of strategic planning."

The first evaluation should be of the building's technical and architectural capacities, Kuriloff says. These include its HVAC systems, elevators, floorplans, ceiling heights, number of windows, bathroom facilities, and power availability.

"We have people physically walk into our buildings with a checklist of these things," he says. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Cite this article

Cited article

Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25,

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Strategic Planning for Marketing


Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25,

    New feature

    It is estimated that 1 in 10 people have dyslexia, and in an effort to make Questia easier to use for those people, we have added a new choice of font to the Reader. That font is called OpenDyslexic, and has been designed to help with some of the symptoms of dyslexia. For more information on this font, please visit

    To use OpenDyslexic, choose it from the Typeface list in Font settings.

    OK, got it!

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search


    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.