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Ziroom: Creating Quality Rental Living Marketing Strategy Analysis & Solution
Marketing & Sales Case Study Analysis and Solution
At Fern Fort University, we use Harvard Business Review (HBR) marketing principles and framework to analyze Ziroom: Creating Quality Rental Living case study. Ziroom: Creating Quality Rental Living is a Harvard Business Review case study written by Chunling Yu, Chuanjiang Maofor the students of Sales & Marketing. The case study also include other relevant topics and learning material on – Supply chain
Strategic Marketing Analysis of Ziroom: Creating Quality Rental Living case study written by Chunling Yu, Chuanjiang Mao will comprise following sections –
- Ziroom: Creating Quality Rental Living Case Description
- Marketing Definition
- Market Potential Analysis of Ziroom: Creating Quality Rental Living
- Market Share Potential Analysis
- Segmentation and Segment Attractiveness Analysis
- Competition and Competitiveness Analysis of Ziroom: Creating Quality Rental Living
- Customer Value Analysis of Ziroom: Creating Quality Rental Living case study
Ziroom: Creating Quality Rental Living Marketing Case Description
Sales & Marketing Case Study | Authors :: Chunling Yu, Chuanjiang Mao
Beijing has a huge second-hand housing rental market, while the tenants are often unable to get satisfactory properties. Because the real estate brokerage companies only assist with handling procedures, the tenants' requirements for quality, furnishing and services of properties are inadequately considered. Therefore, traditional modes of leasing have been significantly out of date. In this context, Homelink launched Ziroom business in May 2011, beginning its new exploration in the rental industry. Under the leadership of Mr. Xiong Lin, general manager of Ziroom, who had rich experience in this field, Ziroom created Ziroom Friendly Home and Ziroom Apartment under the same brand of Ziroom and operated them in a B2C mode. Ziroom owns the properties and processes them into standard products before selling online at Ziroom.com and providing various follow-up services during the lease term. Ziroom focuses on product, service and O2O, covering all the key links of tenants' rental experience. By the end of 2013, Ziroom had collected a total of over 20,000 properties, including over 60,000 Ziroom Friendly Home rooms and 6 stand-alone buildings of Ziroom apartments that are distributed in more than 2,000 real estates in Beijing. With the cumulative occupancy rate remaining at 90% and the renewal rate at over 60%, Ziroom provides rental services to 10 million Ziroomers. At present, Xiong Lin is faced with a number of challenges. For example, Ziroom's rent is a little bit high for a portion of young people in need of shared leasing; the future development of Ziroom may be affected by the changes in rents, real estate purchase restrictions, and the increase of Ziroom properties. Ziroom aims to establish a super-large enterprise based on O2O platforms that integrate asset management, housing and extension services, as well as information and data services, managing tens of thousands of properties in China. Today, Ziroom is continuing its entrepreneurial efforts.
According to American Marketing Association – Marketing is a set of activities that a firm undertakes for creating, communicating, delivering, & exchanging offerings that have value for customers, clients, partners, and society at large.
Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
Market Potential Analysis of Ziroom: Creating Quality Rental Living
Market potential analysis comprises evaluating the overall market size of the related product that the firm is planning to launch. This will involve defining – Why the target market segment needs the product and how it will provide a solution to full its consumers’ needs. Market potential of Ziroom: Creating Quality Rental Living products various on factors such as –
- Maturity of the market. In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. New players have to go for market share strategies in marketing.
- Technological competence of the existing players and culture of innovation and development in the industry.
- Untapped market sizes and barriers to both enter the market and serving the customers. Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers.
- Define the core need that your product is serving and list out all the direct and indirect competitors in the market place. This will help not only in positioning of the product but also in defining or creating a segment better.
- Uncovering the current and untapped market sizes and barriers to serving the larger market. Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
- Estimate the current stage in product life cycle and its implications for marketing decisions for the product.
Market Share Potential Analysis
- Understanding the buyer behavior model for Ziroom: Creating Quality Rental Livingindustry.
- Identifying the market share drivers relevant to Ziroom: Creating Quality Rental Living market.
- Segment Attractiveness Analysis – Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target. We point out in great detail which segments will be most lucrative for the company to enter.
- Understanding the different needs and relative value of your offering by segment.
- Developing segment priorities and positioning the product based on the product need fit developed by the firm.
Competition & Competitive Position Analysis
- Uncovering customer-based competitive positions for key rivals and firm’s offering. This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product.
- Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product.
- Strategic Marketing Planning — the process of developing and maintaining a strategic fit between the organization’s objectives and capabilities and the ever evolving marketing opportunities for its products.
Ziroom: Creating Quality Rental Living - Customer Value Analysis
Capturing customer value is essential to marketing efforts as it results in higher return in the form of both current & future sales, greater market share, and higher profits. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more. This, in turn, means greater long-run returns for the firm.
- The crucial role of customer perceived value in acquiring and retaining profitable customers. Product differentiation is often based on building on a value niche that a firm believes that is very important to the customer. This niche contributes to perceived value. If the perceived value is high then customer stay loyal to the product if not then she can switch to the competitor’s product.
- Graphically displaying value differences for deeper understanding and better internal communication. This helps is building a narrative that a customer can identify with. The better the insight more are the chances of connecting with the potential customers.
- Identifying and selecting actionable value creation options. This can help in increasing the customer lifetime value. Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage.
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You can order Ziroom: Creating Quality Rental Living Marketing Strategy Case Study Solution with us at Fern Fort University .
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