Marketing Strategy for DAMAC

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Marketing Strategy for DAMAC

Introduction DAMAC Adaptedties is a Dubai inveterate sodality certain in 2002. It is a individual, chafferable and convenience developer with “iconic” progressions and fruits in staggering areas in expressive refined communities in the Average East has accelerationed DAMAC invent representation and kind ce making pour and alluring adaptedties. Previously DAMAC Adaptedties has extended its entrapwork among a scant years of achievement, in to territorys of North Africa, Qatar, Jordan, Lebanon and Saudi Arabia. Past its connection in 2002, DAMAC has transmited 9,318 units to age and as of now has an progression preparation of in abundance of 25,000 units at contrariant phases of progression and arranging transmiting DAMAC’s trust of wastefulness subsistence with astounding individual, trust, and rest and affair progressions. At the courage of the Bunch’s connection

Introduction

DAMAC Fairties is a Dubai arrangely concourse arrangely in 2002. It is a special, allsale and quiet developer with “iconic” growths and fruits in staggering areas in speaking courtly communities in the Intermediate East has aided DAMAC frame effigy and kind ce making waste and unalarming fairties. Previously DAMAC Fairties has courteous its inveiglework amid a lacking years of achievement, in to portions of North Africa, Qatar, Jordan, Lebanon and Saudi Arabia.

Gundivided its organization in 2002, DAMAC has transported 9,318 units to duration and as of now has an aggression course of in superfluity of 25,000 units at irrelative phases of aggression and arranging transporting DAMAC’s prospect of wastefulness maintenance with astounding special, accommodation, and rest and interest growths. At the nature of the Bunch’s fellowship lies the eagerness to transport this prospect ce its clients, with the Concourse’s c.1,400 workers intercourse with the all rule – from the purpose of growth accomplices, ce model, artificeers, artificeners and ceemen, the remoteness to the handover of explanations.

To plplane growths are transported to the most wealthy conceivable measures, DAMAC gives the exemption afloat environment to desirable workers chooses upright the exemption accomplices and causes ventures in excellent areas. Continuously at the bleeding artificee of prospectary ideas, DAMAC has connections with “Paramount Taverns & Resorts”, the buffooneryctional licensee of Paramount Pictures, Italian artifice houses Versace Abode and FENDI Casa ce referableable special condo and manors and the Trump Organization ce the aggression and operations of the Trump Interpolitical Golf Course, Dubai and the Trump Controltunes within the AKOYA by DAMAC growth. As DAMAC keeps on innovating and adduce innovating ideas to the interest sector, the Concourse is constant to extobject on its compelling action to duration. With prospect and apparition, DAMAC is edifice the up and hereafter object of Intermediate East wastefulness maintenance.

The Concourse issued Global Depositary Receipts (GDRs) which are chronicled on the London Stock Exchange. Citibank N.A. goes environing as the depositary ce the GDR.

The projects by DAMAC Fairties embody; Marina Terrance, Executive Heights, Lake Inspection, Lake Terrance, The Waves, Smart Heights, Park Towers and DAMAC Maison, The Summit. These projects entrust a profuseness and sustain covet ce artifice and condition.

Mission:

DAMAC states its sidearm as “delivering appraise to its customer”. Basically it favor to entrust. DAMAC ensures that the fruits and organizations of edifices are entrusted with the pre-eminent potential gauges from the unauthentic employees, architecture and contractor and artificeers. Gundivided its fact starting from 2002, it has maintained a proceedings of edifice entrusty with its prospect of profuseness fruits.

Bargain Description:

Bargain serves as a average ce interaction of purchaseer and seller. It can be extremely unpredictable. Throughout the universe bargain with the perspective of purchaseer differs from seller’s aim of inspection. Bargain modifys daily when-in-fact from interest perspective it causes a daily brave. Throughout the universe, organizations are confronting the brave of global counteragency and with the effects of globalization on gregarious, financial, economic and fellowship; designs of purchasing and subscription are newfangled.

The organizations in universewide interest sector are attempting to good-natured-service by the permissive proviso that possess been made owing of globalization. In this confer-upon conclusion of globalization the organizations are attempting to enact progressed alteration so as to extobject their centre magnitude and interest yields. Owing of elephantine counteragency in universewide interest connections are selecting competitive workers and executing a lacking unusual bargaining techniques.

The organizations ought to be conversant abundance environing irrelative components of promoting rule to unfelderly the knowledge of overseeing bargaining. There are distinct components of bargaining rule and strategic implementation of these rulees, ce model, strategic artifice ce bargaining compound implementation, strategies ce targeting, sectionation, positioning arrangely on standpoint and absorb conducive arrangementologies.

Bargain sectionation is used to test the irrelative sections of consumers with i-elation to irrelative result row. (Kotler, 2009)Targeting temporization is used to acknowledge the target parley ce the point results. Result positioning is used to test the portion in which the results conquer emulate in a bargain property. These irrelative components of bargaining rule are elaborated in this consider in arconcatenate to recognize managing bargaining.

Dubai is a greater and agreeable bargaining hub and gundivided the fruits in Arab nations and Muslim universe, opportunities ce interest bombardments are becomeing loftier. The global recoveries in 2003 of Dubai, the economic stipulations of Dubai portion are improved with a enlargement of GDP. This redemption has led to good-natured-natured the housing device and authentic controltune interest environing Dubai where herd has a free modify in their inaugurate phraseologys. The bargain changing perspectives of Dubai housing and edifice devices are authorized in this rumor with the aid of bargaining strategies adopted by DAMAC Concourse. DAMAC Fairties initiative and sidearm is as-courteous sift-canvassed previously, raise the rumor conquer sift-canvass environing its flowning bargaining details and coming bargaining artifices.

Strategic Implementation:

DAMAC interest temporization and objectives are aligned to its prospect of vital and creating alteration thus its temporization revolves environing the centre steps as follows:

  • Buy: DAMAC identifies the achievementful opportunities of enhancement controltune and purchase the estate. It reviews the economic and permissive interest opportunities in other countries without of Dubai.
  • Create: DAMAC causes a extremely estimable and pampered and innovative inauguratephraseology through its edifices and appraise acquired projects.
  • Sell: It sells the enhancement condition estate occasion creating interest connections and interconnections with the vital housing and tavern brands.
  • Build: DAMAC has built prolific projects through fair utilization of strategic artificening, budget considerable and maximizing the good-natured-services.

Marketing Compound

Marketing compound of anorganizationis the spine of any organization’s promoting order. Each epithet connection wants to inquire the demonstrationcasing combine resultively guardianship in soul the object object to do the arrangement fruit (Jobber, 2012)

Product: DAMAC introduces the innovative and pampered houses and fairties. Its projects are alliances of other vital brands such as Paramount Taverns. DAMAC’s projects embody Marina Terrance, Executive Heights, Lake Inspection, Lake Terrance, The Waves, Smart Heights, Park Towers and DAMAC Maison expectation. AKOYA is a pampered villa, and a coming interest artifice of DAMAC.

Price: DAMAC has firm enhancement charges ce its results and services. Undivided infer embody its target bargain i.e., extremely innovative and inauguratephraseology oriented. Other infer is the design of housing and edifice devices in Dubai. In covet flow, the interest could good-natured-natured from the increasing rates and opportunities of enlargement. In 2020 the charges are expected to demonstration increasing trobject ce housing projects in Dubai.

Place: DAMAC has located the areas of Intermediate East, North Africa and others with a greater hub in Dubai. It has a geographical standpoint on universewide opportunities. Primarily it operates in residential sector save it as-courteous favor to cause bargain in allsale fruit and co-brands of tavern and apartments. It has interpolitical and general offices ce intercourse and other matters.

Promotion: It uses countenance to countenance bargain tools through its nearness in Dubai Malls. It as-courteous uses technology and electronic instrument ce its elevation.

Target Customer:

DAMAC has targeted the customer with; innovative inauguratephraseology and profuseness searching property. It has standpointed chiefly on the excellent reckless that does referable pester to reckless excellent ce their niche requirements.

Bargain Sectionation

There are severalkeyelements in bargaining strategies. Bargain sectionation is undivided of those explanation componentsthat possess been implemented in ultimatum expression.

Behavioral Sectionation: Orderly on deportmental sectionation, Customer deportment embody the profuseness and relaxed inaugurate phraseology, want of housing phraseology as in western nations. The concourse has built projects with enhancement condition and pampered inaugurate phraseologys and a neternally objecting test.

Profile Sectionation: A customer who is courteous refinementd and has a good-natured-natured educational setting with loftier hues equalize comes lower this section. Trade and trade kindred setting herd are apex most targeted customers. Early married couples and elderly undivideds are mainly targeted.

Geographic Sectionation: On the reason of geographic sectionation, it has lynxlynxeyed upon the portions of enhancement and well-behaved controltune which can cause a covet in herd who absence a gauge and enhancement inauguratestyle.

Psychographic sectionation: DAMAC has targeted the customers of intermediate age; early couples with apparition and buffoonery component searching ce spfinality expression with excellent objecturing tastes and appraises depfinality upon collective arrange. Elderly elderly arrangely on their maintenance phraseology of nature prestigious and with excellent gauges. 

Bargain Opportunities: Consumer Deportment

The consumer deportment anatomy relies on the interconnection of herd with the aid of bargaining compound. Additionally, reckless equalize of living-souls and socio-cultural variables postulate a prodigious keep-akeep-apart on purchasing inaugurate of consumers (Pride & Ferrell, 2011).In expression of good-natured-services, interest of DAMAC can direct to go up as the consumer wants of pampered inaugurate phraseology as adopted by Western refinement has growthd in Dubai and Intermediate East. Gundivided this covet, the bargaining ce average concatenated reckless bunch is another occasion to behold ceward. Gundivided DAMAC standpoint of enhancement charge, it as-courteous wants to behold ceward and cause profuseness inaugurate phraseology occasion ce affordable concatenate. In coming, housing device and fix charges are expected to become up with double or triple rates. Thus, it may allude-to interest enlargement and coming bombardment opportunities as DAMAC rumors ce 2013 demonstrations its good-natured-services and achievement, thus the enlargement continues to soar. (DAMAC Annual Rumor, 2013) The graph underneath confer-upons the flowning vital situations to opportunities ce enlargement in taverning and kindred requirements. Owing Dubai is a greater hub ce divers interpolitical events, herd conquer search the address of taverning ce remain such as ce events approve Dubai expo. Towards the object of 2020, design ce taverning and housing device demonstrations an upward deviate.

Source: (Dubaitourism.ae)

Bargain Investigation:

Secondary Investigation: All the postulates is placid from the causes conducive on inveigle, the journals, innovatings and annual rumor of the concourse. As-courteous the theories from read causes are as-courteous confer-upon to tail up the bargaining rumor.

Primary Investigation: Primary investigation is inaugurateed on the reason of review. The respondents were chosen and their exculpation is placid through the artificeed questionnaire confer-upon in the Appendix A at the object.

Bibliography

DAMAC Annual Rumor. (2013). Retrieved from http://www.damacproperties.com/en/general/download/file/damac-real-estate-development-limited-annual-report-2013-final?id=12200&type=report.

Dubaitourism.ae. (n.d.). Retrieved December 25, 2014, from www.dubaitourism.ae

Jobber, D. (2012). Principles and Practice of Bargaining. Innovating York: McGraw-Hill Education.http://oro.open.ac.uk/36359/

Kotler, P. (2009). Principles of Bargaining. Pearson Education India.http://books.google.com.pk/books?hl=en&lr=&id=KN6PqQMnFBAC&oi=fnd&pg=PR34&dq=Kotler,+P.+(2009).+Principles+of+Marketing.+Pearson+Education+India.&ots=UhHdTbDNHz&sig=CYs0TJTf7gnth-JsooXTBZ2R3Fg

Pride & Ferrell. (2011). Marketing. . Stamford: Cengage Learning.http://books.google.com.pk/books?hl=en&lr=&id=3dp0cR45FZcC&oi=fnd&pg=PR3&dq=Pride+&+Ferrell.+(2011).+Marketing.+&ots=OwFuTk_15T&sig=WQxHkWpC6oD22ezjFSdPU1spd4o#v=onepage&q=Pride & Ferrell. (2011). Bargaining.&f=false

Appendix A

Questionnaire:

Demographics: (Mandatory)

  • Name:
  • Age:
  • Occupation:
  • Income:

Question

Strongly Agree

Agree

Moderate

Disagree

Strongly Disagree

  1. The changing deviates and globalization has impacted the inauguratephraseology of herd in Arab nations, further pointly in Dubai?
         
  1. The bargain want of customer is changing ascribable to increasing trobject of collective arconcatenate and fellowship gauges
         
  1. The growth in reckless is undivided cause of modify in want of inaugurate phraseology.
         
  1. Confer-upon bargain stipulations allude-to that there is a want to standpoint on housing deviates and phraseologys
         
  1. Profuseness is a want to today’s universe.
         
  1. How convinced is a intermediate arconcatenate individual to purchase a profuseness inaugurate phraseology:
  • Greatly
  • Moderately
  • Depends upon his reckless
  • Depends on his wants
  • Depends on his reckless and other collective factors
  1. Why would you advance, a profuseness abode in agreeable location:
  • Ascribable to growth in reckless
  • Ascribable to societal deviates and want of gauges and inauguratestyle
  • Other Factors: ……………………………………………………

Unreserved Objected Questions:

  1. What do you hold environing DAMAC and its achievement? Possess you eternally visited or a client at DAMAC Fairties?

………………………………………………………………………………………………………………………………………………………………………………………………

  1. How distant DAMAC Fairties has exhausted the clients arrangely on its prospect of entrusting profuseness?

………………………………………………………………………………………………………………………………………………………………………………………………………………

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