MARKETING AND COMPETITION Marketing of Products and Services Marketing of Products and Services The Company has established an after-sale service policy to continuously take care of customers in every project. It sets up 3 companies that offer business services relating to real estate development. The services are as follows: • Customers’ Experience Management 1. Marketing Strategy Apart from focusing on the ability to compete in the market, In order to provide services to the customers, the Company designs the standard of the touch points to impress the customers the Company also emphasizes the marketing strategy which and create impressive experiences. Any recommendations or is different from project to project on various aspects as follows: complaints of customers will be responded to. Activities will also be • Research organized on a regular basis to build relationship with customers. The Company establishes a guideline and direction of project All of the above have built confidence in the brand and enabled management, chooses a location and analyzes target group the customers to proudly make a referral to others. The success of customers through survey and data collection so that the of this strategy can be seen from the sale of new projects products can be released into the market properly. Moreover, launched, most of which is a result of referral which has been after the residents have already moved in, the information increasing every year. On average, 50% of the sale volume of on the residents living in various projects is compiled. Their a project is from referral. lifestyle and needs will be analyzed to develop a product and service that match the customers’ needs for the development of products and services using human-centric design to meet • Organizational Image Management Through customer needs to have a good life and to live happily with a Brand Communication The Company has launched a campaign to communicate balance in the Livable Community. the “the Better Balance” concept which LPN determines to • Selling Price Establishment incorporate into every work process to ensure that LPN’s The basic factor for selling price establishment is the selling price “home” is the most balanced “home” for living. The 3 of the competitors’ projects located in the same neighborhood components of balance in the Better Balance concept are in the market. Also, the Company gives importance to the direct perfectly included in all LPN project developments. and indirect project costs control which is another variable that allows the Company to establish appropriate selling price while also maintaining the planned returns of investment even in severe competitive situation. that suits the needs of target groups while maintaining the planned returns of investment even in severe competitive situation. • Marketing Communication The Company will survey the market and analyze competitors before establishing a market communication plan to communicate with target customers. The Company focuses on communicating, advertising and promoting the projects directly to the target group of customers who have dispersed around the project area. Customers who used to visit the projects are also communicated to via big and small advertisement billboards and direct mails. Special offers are also available to motivate the customers to reserve to buy a condominium unit at the launching event. The use of online media to reach the target groups is promoted. The Company can maintain very low marketing expenses which is around 1% of the income from sales.
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ANNUAL REPORT 2019 THE BETTER BALANCE
