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Page 1: LIMITS OF LIABILITY AND DISCLAIMER OF WARRANTY · 2016. 12. 29. · discussion and time permits. Your experiences can help clarify the content, make the content more relevant and
Page 2: LIMITS OF LIABILITY AND DISCLAIMER OF WARRANTY · 2016. 12. 29. · discussion and time permits. Your experiences can help clarify the content, make the content more relevant and
Page 3: LIMITS OF LIABILITY AND DISCLAIMER OF WARRANTY · 2016. 12. 29. · discussion and time permits. Your experiences can help clarify the content, make the content more relevant and

© 2014 National Apartment Association

LIMITS OF LIABILITY AND DISCLAIMER OF WARRANTY © 2014 by the National Apartment Association, 4300 Wilson Boulevard Suite 400 Arlington, VA 22203. All rights reserved. The course materials or any part thereof may not be reproduced, stored in a retrieval system, or transmitted, in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, or otherwise, without the prior written permission of the National Apartment Association Education Institute (NAAEI). NAA retains copyright to the original materials and to any translation to other languages and any audio or video reproduction, or other electronic means, including reproductions authorized to accommodate individual requests based on religious or medical deferments from classroom participation. DISCLAIMERS Although NAAEI programs provide general information on apartment management practices, NAAEI does not guarantee the information offered in its programs is applicable in all jurisdictions or that programs contain a complete statement of all information essential to proper apartment management in a given area. NAAEI, therefore, encourages attendees to seek competent professional advice with respect to specific problems that may arise. NAAEI, their instructors, agents, and employees assume no responsibility or liability for the consequences of an attendee’s reliance on and application of program contents or materials in specific situations. Though some of the information used in scenarios and examples may resemble true circumstances, the details are fictitious. Any similarity to real properties is purely coincidental. Forms, documents, and other exhibits in the course books are samples only; NAAEI does not necessarily endorse their use. Because of varying state and local laws and company policies, competent advice should be sought in the use of any form, document, or exhibit. POLICY STATEMENT REGARDING THE USE OF RECORDING DEVICES, AUDIO VISUAL EQUIPMENT, AND OTHER MEANS OF REPRODUCTION OR RECORDING OF THE “CERTIFIED APARTMENT MANAGER” MATERIALS All program contents and materials are the property of the National Apartment Association Education Institute, which strictly prohibits reproduction of program contents or materials in any form without the prior written consent. Except as expressly authorized in writing in advance, no video or audio recording of NAAEI programs or photocopying of “Certified Apartment Manager” materials is permitted. Authorized recording of programs or duplication of materials may be done only by the instructor on site.

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© 2014 National Apartment Association

ACKNOWLEDGMENTS

SUBJECT MATTER EXPERTS The NAA Education Institute wishes to thank the following apartment industry professionals for contributing their time and expertise to the rewrite of the Certified Apartment Manager Research, Analysis and Evaluation program:

Lead Subject Matter Expert

Susan E. Weston, CAM CAPS, NAAEI Faculty Licensed Texas Broker

Professor, University of North Texas School of Business The Susan Weston Company

2655 Mount View Drive Dallas, TX 75234-6239

972.308.6092 Office 972.415.6299 Cell

[email protected] www.susanweston.com

KEY CONTRIBUTORS

• David Jolley, CAMT • Howard L. Campbell, Ph.D. • Fisher & Phillips, LLP • Kimball, Tirey, and St. John, LLP • Sue Weston, CAM, CAPS

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 2

Course Information

Course length This course will take approximately 7 hours, excluding breaks and lunch.

Estimated time

The estimated time for the chapters in this course is as follows. Time for lunch (45 minutes to an hour) and short (10 minute) morning and afternoon breaks are not reflected here, but should be planned.

Topic Estimated Time (minutes) Welcome/Introductions 15

Introduction to Marketing 60

Conducting Market Analysis 60

Marketing Plan 120

Fair Housing in Marketing and Advertising

45

Promotional Marketing 120

Activities There are several case studies that are used as activities in this course.

Activities are exercises covering part of a chapter that require participants to use specific chapter content, which aids in comprehension and memory. They are in the Activities Tab of the Participant Guide. Instructions for setup and debrief points are provided in this guide for you. Many of the Activities are to be completed in pairs or groups

Chapter Skill Checks

Skill Checks are completed at the end of each Chapter. They are similar to the Activities, but are broader and address content from the entire chapter. Chapter Skill Checks help the participants review the material and check their own progress by determining how much they knew from memory versus how much they had to look up in the Participant Guide. Skill Checks are in the Skill Check Tab of the Participant Guide. Instructions for setup and debrief points are provided in this guide for you. Skill Checks are completed open-book, sometimes individually and sometimes in pairs or groups.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 3

Course Information, Continued

Course exam The CAM exam is delivered in 2-parts over a 4 hour period. Part I is 115 multiple-choice questions timed for 2 hours. Part II is 75 scenario-based multiple choice items, also timed for 2 hours. Both Parts of the CAM exam test knowledge and application of content from ALL 9 modules. The new CAM exam is ONLY delivered on a computer in a proctored environment. The exam is available at Affiliate offices and Castle Worldwide locations across the country. Click here to go to a testing site or visit www.naahq.org/education. Refer students to the Candidate Handbook for additional testing information. Participants will need an eligibility code to access the exam. The eligibility codes will be distributed by the local apartment association after completion of the required coursework. Upon completion of the NAAEI exams, participants will receive their results immediately. All participants will receive diagnostic information on their performance in the major content areas of CAM. If a participant passes their exam, they will receive a passing notice. If participants do not pass the exam, they will receive their score report, in addition to a profile of their strengths and weaknesses based on the domains (sections) included in the exam. Participants who do not pass the exam, may retake it again after 7 days. Retesting fees for one part of the exam at an association or Castle location is $80.00. Retaking both parts of the exam at an association or Castle location is $100.

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 4

Instructor Preparation

Materials needed

The printed materials needed for this class include the following:

Marketing Participant Guide for each participant and one for yourself

Marketing Instructor’s Guide for yourself

Sign-in form (to be turned in to the affiliate office at the end of class)

Answer Keys to Skill Checks for Course 5: Marketing (5)

Your prep time

Be sure that you review the materials for class and prepare in advance. The Instructor’s Guide and slides are intended to be used along with the Participant Guide as a way for you to take the participants through the material and to manage the classroom stories, activities and skill checks. You should plan on spending several hours preparing to teach the class, particularly if you have not taught this course using these materials in the past.

Equipment needed

The equipment needed in the training room includes the following:

Flipchart or whiteboard with stand and markers

Computer with LCD to project PowerPoint slides Note: If the slides have been made into transparencies, you will need an overhead projector instead.

Microphone or sound system (if necessary)

Room require-ments

Prior to the training, be sure that the room has:

Seating that allows for the number of participants to be seated comfortably and still be able to see the flipchart and slides from all seats

Tabletops or desks for writing

Controllable thermostats and lighting

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 5

Instructor Preparation, Continued

Logistics Prior to the training, be sure to confirm or to find out the following:

Date and time of the class

Venue for the class

Room number/location

Location of rest rooms, telephones, kitchen facilities, etc.

Location of emergency exits

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 6

Using This Guide

Introduction This instructor’s guide has been prepared to help you manage the information for this class as well as to help make the class more consistent at all locations nationwide.

Topics You will notice that the topic being discussed is labeled at the top of each

page. The content in this guide is different than what participants are looking at in their participant guides, but references to page numbers that they should be looking at are provided here to help you keep track of where they are. You will need to have the Participant Guide in front of you, to be able to see what they are looking at as well.

Timing The timing in this guide is provided as a guideline. Each class is different,

and it is up to you to be able to manage the time so that you do not run over the allotted limits. This will ensure that you are able to cover all the materials that participants need to know in order to pass the exam for the course. Hints If there is a mix of students who are quick and slow, or if someone is telling a lengthy story or asking a lot of questions that require time-consuming answers, you will have to decide at what point to move things along. Other hints include:

offering to discuss things further after class

explaining that something being brought up now will actually be covered later in the material

explaining that although everyone may not be finished, you need to move on but will be available to help with any questions after class

using a “parking lot” for issues that come up that you don’t want to forget about but that can’t be discussed right then

Instructor’s talking points

Anything you may want to say word-for-word is bolded and bulleted. These are only offered as suggestions. Things that are instructions to you are in regular font and not bulleted.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 7

Using This Guide, Continued

Adding your experiences

Feel free to elaborate on the content in this guide by adding your own experiences as long as your stories are directly relevant to the topic under discussion and time permits. Your experiences can help clarify the content, make the content more relevant and interesting to the students, and encourage them to share their own experiences as well.

Icons There are several icons that are used throughout this guide. They are:

Flipchart: This icon shows when you should display a prepared flipchart or write something on the flipchart.

Handout: This icon shows when you should distribute a handout. This could be a skill check, activity, or other handout.

Reference: This icon is used to tell participants what page to look at in the Participant Guide.

Activity: This icon is used to point out where there is an activity/practice.

Optional: This icon is used to point out places where you may add a personal story or do something extra, if time permits. It is more important to complete the class on time and be able to get through all the material than to provide extra examples. Use your judgment.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 8

Using This Guide, Continued

Icons, (continued)

Question/Answer: This icon is used to show where you will ask a question or questions of the participants.

Skill Check: This icon is used to point out where there is a skill check for a chapter or chapters.

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 9

Getting Started Estimated time: 15 minutes

Welcome Welcome them to the class and thank them for attending.

Introductions If you are using name tents, ask participants to put their first names on them.

Show Slide #2 - Introductions

Module 5: Marketing 2

Introductions

Your name

Where you work

Your job responsibilities

How long you have been in the industry

What you hope to get from this class

Introduce yourself first, telling participants where you work, how long you have been in the industry and what your involvement is with the local NAA affiliate. Ask participants to introduce themselves, selecting someone at one side of the room to start.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 10

Getting Started, Continued

Overview of CAM program

Explain to participants that this Marketing course is one of nine (9) courses that they will need to complete in order to receive the Certified Apartment ManagerSM designation. Explain that the last course is a final project where you are required to perform an analysis of an apartment community. Additional detail about this project will be provided in that course. Once you have successfully completed the courses and the final project within the 1-year candidacy period, you will receive the CAM designation. CAM designates receive a certificate that is suitable for framing and a pin.

Additional information

Tell them that the CAM designation is one of several that NAAEI offers. They can get more information about the other programs on the Web site at www.naahq.org/education

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 11

Getting Started, Continued

Agenda Show Slide #3 - Agenda

Module 5: Marketing 3

Agenda

Introduction to Marketing

Conducting Market Analysis

Marketing Plan

Fair Housing in Marketing and Advertising

Promotional Marketing

Review the agenda for the day. Note: If you like, you can add breaks and lunches into this slide to show when those will happen. Otherwise you can leave it as is, and take breaks when it seems right during class.

Materials review

Participant Guide Ensure that each participant has a copy of the Marketing Participant Guide. Tell participants that this will be used:

during class

as a aid in studying for the course exam if they elect not to take it immediately after class, and

as an on-the-job reference following training

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 12

Getting Started, Continued

Materials review, (continued)

Tabs Explain that the Participant Guide is divided into these tabs:

1. Chapters: they contain the core content 2. Activities: these are exercises covering part of a chapter 3. Skill Checks: these are exercises and knowledge checks covering an

entire chapter 4. Toolbox: these are forms, checklists, and samples that you may want to

use on the job following training 5. Slides: these are the slides you will show throughout the Course

Explain that

you will tell them where you are in the Participant Guide often, and

although the slides contain information from the Participant Guide, they are not identical or always labeled the same way because they have different purposes.

Resource Materials Explain that there are additional materials, such as sample forms, job descriptions or other documents which are available on the NAA Web site. There is also a master glossary of terms. To access these resources, they should go to www.naahq.org/education/CandidatesOnly, and log on using their NAA User ID and password to access these documents.

Logistics Tell participants the locations of the bathroom, kitchen, telephones, and

emergency exit.

Classroom rules

Explain rules about use of cell phones and/or pagers, breaks, smoking, and any other information you need to provide them.

Sign in form Pass around the sign in form and ask participants to complete it.

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 13

Chapter 1: Introduction to Marketing Estimated time: 60 minutes

What we’ll cover

In this chapter, we will briefly discuss an introduction to marketing. As a CAM you will need to understand the basic concepts of marketing and how to apply them to ensure your business reaches its potential.

Encourage students to take notes in their text. The Classroom Materials will be a working document for them.

In addition, we will talk about some different situations and think about how marketing concepts will apply.

Overview of Introduction to Marketing

Let’s look at what we are going to cover in this chapter.

Participant Guide page 1-1 Show Slide # 4 – Introduction to Marketing

Module 5: Marketing Chapter 1 4

Introduction to Marketing

Role of Community Manager

Understanding your Market

Factors impacting apartment markets

Marketing Mix

Marketing Success Factors

List the topics that will be discussed in this chapter.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 14

Chapter 1: Introduction to Marketing, Continued

Definition of Marketing

Participant Guide page 1-2 Show Slide #5 – Marketing: Definition

Module 5: Marketing Chapter 1 5

Marketing: Definition

Integrated and coordinated

activities, such as research and

promotion, which focus inside and

outside the community to

encourage recipients to rent or

continue renting an apartment.

Offer a definition of marketing as noted on the slide with background from the Participant Guide if needed.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 15

Chapter 1: Introduction to Marketing, Continued

Property Manager Responsibility

Participant Guide page 1-2

To be successful as a manager you need to understand the wants and needs of your residents. Marketing helps you to do this so you can realize the optimum value of your property.

Property owners and/or the management company are responsible for establishing the strategic direction for marketing the property.

Show Slide # 6 – Property Manager Responsibility

Module 5: Marketing Chapter 1 6

Community Manager Responsibility

Prepare and implement market plan

Price and analyze marketing and advertising materials

Identify present and future markets

Measure and monitor marketing efforts

Educate and involve onsite personnel in marketing efforts

Review the bullet items on the slide to ensure managers know what they are responsible for with regards to marketing.

In some cases the responsibilities will change depending on the company’s philosophies and its expectations from its employees.

Property Managers need to understand marketing’s impact on property operations.

Property Managers need to know the marketing direction and message.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 16

Chapter 1: Introduction to Marketing, Continued

Why Do Marketing?

Participant Guide page 1-2 Show Slide # 7 – Why Do Marketing?

Module 5: Marketing

Chapter 1 7

Why Do Marketing?

To realize optimum value of a property

To meet financial goals

To achieve and maintain occupancy levels

To understand resident wants and needs

Review the items on the slide.

What is your Market?

Participant Guide page 1-4

As a manager you need to know your market so you can create the right plans.

Show Slide #8 – What is Your Market?

Module 5: Marketing Chapter 1 8

What is Your Market?

All current and potential residents who want to live in the apartment

community and who are qualified to live there.

Offer a definition of a market as noted on the slide with background from the Participant Guide if needed.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 17

Chapter 1: Introduction to Marketing, Continued

Market Segmentation

Participant Guide page 1-4

To be successful at marketing you need to understand your target markets.

Show Slide #9 – Market Segmentation

Module 5: Marketing Chapter 1 9

Market Segmentation

Designed to reach a specific, smaller group, or target market, within the identified market

Classified according to characteristics such as:

Geography

Demographics

Lifestyle

Product benefits

Review the slide.

To engage the class in discussion if you want:

Ask the class how they have classified or set up target markets in the past for a particular marketing campaign or promotion

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 18

Chapter 1: Introduction to Marketing, Continued

Benefits of Market Segmentation

Participant Guide page 1-4 Show Slide #10 – Market Segmentation: Benefits

Module 5: Marketing Chapter 1 10

Market Segmentation: Benefits

Allows for tailoring of marketing efforts

Provides insight into how to reach the customer through advertising and promotion

Allows companies to maximize resources while increasing likelihood of success

Review the slide to tell what the benefits of market segmentation are.

To engage the class in discussion if you want:

Ask participants to cite how a specific example they encountered using market segmentation provided a benefit.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 19

Chapter 1: Introduction to Marketing, Continued

Factors Impacting Apartment Markets Participant Guide pages 1-5 – 1-6.

Show Slide #11 - Factors Impacting Apartment Markets

Module 5: Marketing Chapter 1 11

Factors Impacting Apartment Markets

Location

Demographic characteristics

Unit size and layout

Price

Physical

Economic

Governmental

Social

Review all the items listed on the slide. Definitions can be found in the Participant Guide.

To engage the class in discussion if you want, discuss why each is a factor. Use the Participant Guide for support for each item.

Ask the class to share situations regarding the different factors. If no one has an example, offer one or all of the following: o Economic: A local manufacturing plant shut down, what would

that do to the apartment market in the area? o Physical: A bus route just started that stops right outside your

apartment complex and goes into the city. What would that do to the apartment market in your area?

o Location: A new school and shopping center just opened down the street. What would that do to the apartment market in your area?

o Demographic: The area of your apartment complex is in a nice area in the suburbs with no access to public transportation. Would you target college students?

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 20

Chapter 1: Introduction to Marketing, Continued

Definition of Marketing Mix

Participant Guide page 1-7 Show Slide #12 – Marketing Mix: Definition

Module 5: Marketing

Chapter 1 12

Marketing Mix: Definition

Controllable variables the company blends to produce the

desired market response.

Review the slide to tell the definition of marketing mix, refer to the participant guide if necessary for further explanation.

5 P’s

Participant Guide page 1-7 Show Slide #13 – Marketing Mix: 5 Ps

Module 5: Marketing Chapter 1 13

Marketing Mix: 5 Ps

Product

Price

Promotion

Place

People

Review the slide to tell what the five P’s are. Mention that each one will be discussed in detail.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 21

Chapter 1: Introduction to Marketing, Continued

Product

Participant Guide page 1-8 Your product as a Property Manager is your apartments, apartment

community and the amenities offered. It is wise to understand your product from a customer’s

perspective and how customers evaluate them. Show Slide #14 - Product

Module 5: Marketing Chapter 1 14

Product

Product or services offered (apartments and community)

Brand identity and logo

Evaluated and marketed by:

Reliability

Quality

Features

Review the slide to tell about the Product piece of the marketing mix.

Optional: If time allows, you can engage the class in the following discussion:

If reliability is part of your product – how do to sell “reliability”? What does reputation have to do with that and how do you find out what your reputation is?

If you only have a limited time available for the 5 P discussion, you can limit the number of discussion questions posed to the class. The Product and People topics are the most valuable discussions to have if you have limited time.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 22

Chapter 1: Introduction to Marketing, Continued

Price

Participant Guide page 1-8 Show Slide #15 - Price

Module 5: Marketing Chapter 1 15

Price

Monthly rent

Fees

Deposits

Utility expenses

Premium charges

Price is influenced by: Location

Interior upgrades

Review the slide to tell about the Price piece of the marketing mix.

Optional: If time allows, you can engage the class in the following discussion:

What other factors influence your pricing? Answer: neighborhood business climate; third party surveys; move-out reasons; applicants who lease elsewhere; loss leaders for long-time vacant apartments; services included with rent, etc.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 23

Chapter 1: Introduction to Marketing, Continued

Promotion

Participant Guide page 1-9 Use promotional elements to convince potential residents to

select your apartment over a competitor’s apartment. Show Slide #16 – Promotion

Module 5: Marketing Chapter 1 16

Promotion

Advertising

Public relations

Sales promotion

Relationship selling

Review the slide to tell about the Promotion piece of the marketing mix.

Optional: If time allows, you can engage the class in the following discussion:

Ask the class to give examples of low cost or no cost promotion for each of the 4 types listed on the slide.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 24

Chapter 1: Introduction to Marketing, Continued

Place

Participant Guide page 1-10 In some cases, Place and Product might be considered the same

thing when it comes to apartments and apartment communities. Know what features are important to your potential residents.

Show Slide #17 - Place

Module 5: Marketing Chapter 1 17

Place

Distribution channel or method for making your product available

Define and market your property’s:

Physical location

Relative location

Comparative location

Review the slide to tell about the Place piece of the marketing mix.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 25

Chapter 1: Introduction to Marketing, Continued

People

Participant Guide page 1-10 The people piece is those who are involved in the marketing

efforts, not the ones who are the target of the marketing. Show Slide #18 – People

Module 5: Marketing Chapter 1 18

People

On-site personnel

Management team

Contract workers

Marketing partners and vendors

Review the slide to tell about the People piece of the marketing mix.

Optional: If time allows, you can engage the class in the following discussion:

As a manager, what types of questions should you be answering as you evaluate each of these four types of people involved in your marketing. Answer: o Onsite personnel – skill level, enthusiasm, available

resources o Management team – endorsement and support, budgetary

allowances, incentive approvals o contract workers – onsite behavior, service attitude, energy,

appearance o Marketing partners – comply with marketing plan programs,

timeliness, accuracy

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 26

Chapter 1: Introduction to Marketing, Continued

Marketing Success Factors

Participant Guide pages 1-11 – 1-12 Show Slide #19 – Marketing Success Factors

Module 5: Marketing Chapter 1 19

Marketing Success Factors

Visionary

Goal oriented

Customer-focused

Team oriented

Communicated effectively

Consistent

Repetitive

Adaptable to change

Monitored and regularly evaluated

Review the slide to tell about the factors that will make marketing successful.

Discussion Having students use the Participant Guide, ask them to share an example of why a marketing campaign failed. What success factors did they not have or use? Ask them to think of what could have been done differently.

Continued on next page

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Certified Apartment Manager (CAM) SM

Instructor’s Guide Marketing

© 2014 National Apartment Association 27

Skill Check #1

What this skill check covers

Show Slide #20 – Skill Check #1

Module 5: Marketing Chapter 1 20

Skill Check #1

Chapter 1 – Introduction to Marketing

This skill check covers Chapter 1- Introduction to Marketing.

Setup Explain to participants that they will now complete the first skill check for this

Chapter. They will work individually to complete the skill check, and once complete (or time runs out) you will provide the answers which they can use to score themselves and use as a study guide for the exam on this Chapter. This skill check can be completed using their Marketing Participant Guide to look up the answers. Tell them not to feel the need to write whole sentences. Just notes to remind them of what the law covers or how to comply is fine.

Refer to Skill Check #1 in the Skill Checks tab of the Participant Guide. Explain that they have 15 minutes to complete the skill check.

Working time Allow participants 15 minutes to work. As they work, walk around the room

offering help where needed. When the time is up, ask participants to stop. It is OK if some participants did not finish.

Continued on next page

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Chapter 1: Introduction to Marketing, Continued

Debrief

Distribute Skill Check #1 Answer Keys to participants. Discuss answers.

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Chapter 2: Conducting Market Analysis Estimated time: 60 minutes

What we’ll cover

In this chapter, we will briefly discuss what kinds of market analyses there are and how to do them. As a CAM you will need to understand how the different types of analyses contribute to the larger marketing plan and how that is important to the success of your business.

Show slide # 21

Encourage students to take notes in their text. The Participant Guide is a working document for them.

In addition, we will talk about some different situations and think about which types of market analyses are important in each case.

Overview of Conducting Market Analysis

Let’s look at what we are going to cover in this chapter.

Participant Guide page 2-1 Show Slide # 22 – Conducting Market Analysis

List the topics that will be discussed in this chapter. You may want to highlight some of the subtopics in each category.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Definition of Market Analysis

Participant Guide page 2-2 As a CAM you will be responsible for doing market analysis for

your apartment community. In some instances, owners may hire outside firms to do such

analyses especially when determining product feasibility for new construction.

Show Slide #23 – Market Analysis: Definition

Module 5: Marketing Chapter 2 22

Market Analysis: Definition

A formal approach to collection, analysis, interpretation and reporting of information for making rational marketing decisions

An ongoing process to understand customers, competitors and the industry

Offer a definition of market analysis as noted on the slide with background from the Participant Guide if needed.

It is important for you to form a team to which you can delegate certain market research and analysis tasks. This will help provide a wide perspective.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

When to do Market Analysis

Participant Guide page 2-2

Conduct market analysis in reaction to a soft market, or at a specific point in time.

Show Slide # 24 – When to do Market Analysis

Review the bullet items on the slide which identify when there are soft market conditions.

Market analysis is also done at the time of budget preparation.

Optional: If time allows, you can engage the class in the following discussion:

On the slide are just some ideas, ask the class why else they might be asked to do an in-depth analysis of their market. Tip: the next two screens give the benefits of analysis which may trigger some additional discussion about when to do a study.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Benefits of Market Analysis

Participant Guide page 2-3 Show Slides #25 and #26 – Benefits of Market Analysis

Review the items on the slides.

Discussion

Ask if anyone can share an example of how a market analysis yielded a benefit for the apartment company.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

What is your Market?

As a manager you need to know the three elements of a market analysis and how each can help you.

Show Slide #27 – 3 Elements of a Market Analysis

Review the slide listing the three elements. Mention that we will discuss each in more detail.

Definition: Regional analysis

Participant Guide page 2-4 In a regional analysis, the economic and demographic characteristics are outlined for the region which is typically the metropolitan area where the property is located. The characteristics include:

age

household and per capita income levels

education

household size

occupations, and

population growth (or loss) trends.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Elements of a Regional Analysis

Participant Guide page 2-4 Show Slide #28 – Elements of a Regional Analysis

Some other elements of a regional analysis include:

Review the items on the slide.

To engage the class if time allows, you can ask one or more of the following:

What economic factors do you think impact the region where an apartment is located? Why? o Employers o Business climate o Types of business o Employment opportunities

What are some of the recreational/entertainment venues that impact your apartment community? Why? o Parks o Zoos o Museums o Sports venues o Theater/movies

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Elements of a Regional Analysis, (continued)

What do you think is meant by government structure? How can this impact an apartment community market? o Government structure o Growth policies o Regulatory environment o Tax policies

Elements of a Neighborhood Analysis

Participant Guide page 2-5 – 2-6 A neighborhood analysis has many of the same elements as a

regional one, but on a smaller more specific scale. As with any analysis, it is important to consider both the positive

and negative aspects so that both can be addressed when creating a marketing plan.

Show Slide #29 – Elements of a Neighborhood Analysis

Module 5: Marketing Chapter 2 28

Elements of a Neighborhood Analysis

Boundary definition

Population characteristics and trends

Economic conditions

Property types

Amenity and educational opportunities

Crime activity

Others…

Review the slide to list the elements of a neighborhood analysis. Discuss each item as you review it providing a brief description of each.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Elements of a Neighborhood Analysis, (continued)

To engage the class if time allows, you can ask the following: Ask the class what other elements they might want to look at for a

neighborhood perspective. Some items might be: o Proximity and accessibility to public transportation o Educational institutions o Shopping o Employment o Culture/entertainment centers o Social services o Public safety providers

Property and Location Analysis

Participant Guide page 2-7 Property and location analysis contains information about the

positive and negative aspects on a property’s amenities and location and how they affect rentals.

Show Slide #30 – Property and Location Analysis

Read the slide.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

How to do a Property and Location Analysis Participant Guide page 2-8

Show Slide #31 – How to do a Property and Location Analysis

As you review each step discuss specifics that would be found at each step.

To engage the class if time allows, you can:

Ask the class to give specific examples on items found in each step, or ask someone to share their experience doing a property and location analysis and the results of it. Use the step/action table on page 2-8 of the Participant Guide for examples.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Resident Population Analysis

Participant Guide page 2-9 Show Slides #32 and #33 – Resident Population Analysis

Review the slides to tell what a resident population analysis contains and why you would do one.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

How to do a Resident Population Analysis Participant Guide page 2-10

Target market is an important concept to understand and is the

greatest challenge to developing a marketing plan. Show Slide #34 – How to do a Resident Population Analysis

Review the steps on the slide to tell about how to do a resident population analysis.

To engage the class if time allows, you can:

Ask the class to give specific examples on items found in each step, or ask someone to share their experience doing a resident population analysis and the results of it. Use the step/action table on page 2-10 of the Participant Guide for examples.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Competitor Analysis

Participant Guide page 2-11 Show Slides #35 and #36

Review the slide to tell what is included in a competitor analysis and what it gives you.

Review the slide to show how a competitor’s analysis can help you.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

How to do a Competitor Analysis

Participant Guide page 2-12 Analyzing competitors helps you maintain a competitive edge.

Participant Guide page Toolbox-18

Many people use a grid structure or matrix to compare competitor features along side each other. A sample is in the Toolbox.

Show Slide #37 – How to do a Competitor Analysis

Review the slide to tell how to do a competitor’s analysis.

To engage the class if time allows, you can:

Ask the class to give specific examples on items found in each step, or ask someone to share their experience doing a competitor analysis and the results of it. Use the step/action table on page 2-12 of the Participant Guide for examples.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Market Analysis Plan

Participant Guide page 2-13 Show Slide #38 – Market Analysis Plan

Review the slide to describe what a market analysis plan is and what it contains.

Continued on next page

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Chapter 2: Conducting Market Analysis, Continued

Activity #1: Market Analysis

This is the first activity for marketing. Show Slide #39 – Activity #1

Module 5: Marketing Chapter 2 38

Activity #1

Market Analysis

Divide the class into three groups.

Refer participants to Activity #1 in the Activities tab.

Assign each group a case study/property.

Give them 10 minutes to read the case study and answer the questions.

Come back together as a group and ask each team to report out on their particular case study.

If the class is small, pick one study and work together as a class using the whiteboard or flip chart paper.

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Skill Check #2

What this skill check covers

Show Slide #40 – Skill Check #2

This skill check covers Chapter 2- Conducting Market Analysis.

Setup Explain to participants that they will now complete the second skill check for

this Chapter. They will work individually to complete the skill check, and once complete (or time runs out) you will provide the answers which they can use to score themselves and use as a study guide for the exam on this Chapter. This skill check can be completed using their Marketing Participant Guide to look up the answers. Tell them not to feel the need to write whole sentences. Just notes to remind them of what the law covers or how to comply is fine.

Refer to Skill Check #2 in the Skill Checks tab of the Participant Guide. Explain that they have 15 minutes to complete the skill check.

Working time Allow participants 15 minutes to work. As they work, walk around the room

offering help where needed. When the time is up, ask participants to stop. It is OK if some participants did not finish.

Continued on next page

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Skill Check #2, Continued

Debrief

Distribute Skill Check #2 Answer Keys to participants. Discuss answers.

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Chapter 3: Marketing Plan Estimated time: 120 minutes

What we’ll cover

In this chapter, we will briefly discuss the marketing plan, what it is, its purpose and the components of it. As a CAM you will need to know how to create and use a market plan.

Show Slide # 41

Encourage students to take notes in their text. The Participant Guide is a working document for them.

In addition, we do some market plan analysis.

Overview of the Marketing Plan

Let’s look at what we are going to cover in this chapter.

Participant Guide page 3-1 Show Slide #42 – Marketing Plan

List the topics that will be discussed in this chapter. You may want to highlight some of the subtopics in each category.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Definition of Marketing Plan

Participant Guide page 3-2 As a CAM you will be responsible for creating a marketing plan. The marketing plan is a component of your owner’s business plan

and budget. It supports both and is closely linked to the company’s business and investment objectives.

Show Slide #43 – Marketing Plan: Definition

Offer a definition of marketing plan as noted on the slide with background from the Participant Guide if needed.

A plan tries to avoid knee jerk reactions

Continued on next page

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Chapter 3: Marketing Plan, Continued

Purpose of the Marketing Plan

Participant Guide page 3-2 Show Slide #44 – Marketing Plan: Purpose

Review the bullet items on the slide which identify the purpose of creating a marketing plan.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Benefits of the Marketing Plan

Participant Guide page 3-2 Show Slide #45 – Benefits of Marketing Plan

Review the items on the slides.

To engage the class if time allows, you can:

Discuss what can happen when you react without research on 1) rents; 2) traffic source; 3) move-outs; 4) incentives and 5) unit upgrades. Potential answers: o Rents too high o Use a concession program without needing to o May tap into source that doesn’t work for you anyway

Continued on next page

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Chapter 3: Marketing Plan, Continued Components of the Marketing Plan

Participant Guide page 3-3

Write your marketing plan with specific results in mind such as increasing rentals, longer leases or making improvements.

Plans are written based on market analysis. Review and update plans at least once a quarter to reflect market

conditions. Show Slide #46 – Components of a Plan

Review the slide listing the components of a marketing plan.

To engage the class if time allows, you can: Ask what they were doing successfully in their market last year that

doesn’t or wouldn’t work this year – or be as effective.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Marketing Plan Manager Responsibilities

Participant Guide page 3-4 Show Slide #47 – Developing a Marketing Plan: Manager Responsibilities

Review the items on the slide.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Marketing Plan Manager Responsibilities (continued)

To engage the class, you can ask one or more of the following:

What reports are important to support the plan’s targets and measure results? o Historical data move ins/move outs, traffic, gross sales net

sales, closing ratios, prior year occupancy levels o Current availability o Vacancy levels o Leasing performance

Continued on next page

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Chapter 3: Marketing Plan, Continued

Community Image

Participant Guide page 3-7 The property, its staff, physical features, and organization must be

ready for a marketing plan. Show Slide #48 – Community Image

Read the slide.

To engage the class if time allows, you can: Ask how can the community image be reflected by the five senses

– review ideas for all five senses?

Continued on next page

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Chapter 3: Marketing Plan, Continued

Factors Impacting Impression

Participant Guide page 3-7 Show Slide #49 – Factors Impacting Impression

Review the bullets on the slide.

Continued on next page

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Chapter 3: Marketing Plan, Continued

How to Obtain/Maintain a Positive Image

Participant Guide page 3-8 – 3-15 Show Slides #50 and #51 – How to Attain/Maintain Positive Image

Review the slides to tell what things you can do to obtain or maintain a positive image.

To engage the class, you can ask one or more of the following (answers are in Participant Guide):

Ask the class what they do in a typical team meeting. How often do they have them? Then ask how they would conduct the staff meeting when they were presenting a new marketing initiative on site. What specifically would they cover with each of the following: o Leasing personnel o Management personnel o Maintenance personnel o Make-ready personnel o Housekeeping and groundskeeping

Continued on next page

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Chapter 3: Marketing Plan, Continued

Factors Impacting Impression, (continued)

How do you engage your staff and promote positive attitudes? What do you do to maintain your Web site? What types of things do

you have on it? What have you done to offer curb appeal? What things should you consider when thinking about signage? What should you do to maintain grounds/common areas? What is in your information center/model apartment? Ask the class how they ensure that their apartment community

reflects their company slogan/vision/mission. The focus here is to get them to ask “are we who we say we are?” Examples from multifamily companies: o America Comes Home to __________ AIMCO o Leading the Way Home: ARCHON o Making Life Easy: EQUITY o Taking Care of the Way People Live: GABLES o Good People, Great Communities: SOUTHERN o "Building Quality for Our Customer": JPI o Feels Just Like Home: UDRT o Building Better Communities: CED/Concord o We care Where you Live: WALDEN

Continued on next page

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Chapter 3: Marketing Plan, Continued

Writing the Plan

Participant Guide page 3-16 Research each of the five P’s then carefully frame conclusions and

recommendations based on your findings. These are the basis for action items and goals

Show Slide #52 – Writing the Plan

Review the items on the slide.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Definition of SWOT

Participant Guide page 3-21 Show Slide #53 – SWOT: Definition

Review the slide to tell what SWOT stands for.

SWOT is a common market research tool that identifies and defines the problems and opportunities that exist for enhancing your marketing efforts.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Benefits of SWOT

Participant Guide page 3-21 Show Slide #54 – SWOT: Benefits

Review the slide to tell the benefits of a SWOT analysis.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Activity #2: SWOT Analysis

Participant Guide page 3-22 Show Slide #55 – Activity #2: SWOT Analysis

Refer participants to Activity #2 in the Activities tab. Ask each student to pick a particular problem with their apartment property that they can do a SWOT analysis on. If students have difficulty picking one, you can offer:

Pricing Structure

Common Amenities Sample questions are on the slide and in the Participant Guide. Alternative: As a class, pick one problem area and complete a SWOT on flip chart or white board.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Marketing Objectives

Participant Guide page 3-24 Show Slide #56 – Marketing Objectives

Review the slide.

To engage the class if time allows, you can: Ask the class to give you good examples of marketing

objectives? (Use page 3-24 for examples if the class cannot come up with one.) Discuss why each objective is good and what criteria it meets?

Continued on next page

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Chapter 3: Marketing Plan, Continued

Marketing Strategy

Participant Guide page 3-24 Show Slide #57 – Marketing Strategy

Read the slide.

To engage the class if time allows, you can: Ask the class if they have any examples of marketing strategies?

What steps would you take to get there?

Continued on next page

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Chapter 3: Marketing Plan, Continued

Marketing Plan Budget

Participant Guide page 3-26 Show Slide #58 – Marketing Plan Budget

Review the slide.

To engage the class if time allows, you can ask one or more of the following questions: What are sources of expense information? (page 3-26) What are expense categories? (page 3-26) Using expense categories listed above, discuss how a national

owner, who has a short-term business focus, would apply a marketing strategy differently than a regional owner who has a long-term focus and potential family inheritance focus, with regards to: o Model Apartments o Community outreach o Payroll and bonuses

Continued on next page

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Chapter 3: Marketing Plan, Continued

Measuring Success

Participant Guide page 3-28 Your plan must clearly identify how your progress will be

measured. Show Slide #59 – Measuring Success

To engage the class if time allows, you can use one or more of the following questions:

What tools can you use to measure success? (page 3-28) If your goal was to increase occupancy, what would you track?

(page 3-38) Ask the class if they have other examples of measuring success. Ask students to share how they maintain their plans and

measure success?

Continued on next page

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Chapter 3: Marketing Plan, Continued

Use and Evaluation

Participant Guide page 3-30 Marketing must increase traffic and rentals to offset marketing

expenditures

Costs must be tied to results Show Slide #60 – Use and Evaluation

Review the slide.

Continued on next page

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Chapter 3: Marketing Plan, Continued

Activity #3: Marketing Plan Budget

Show Slide #61 – Activity #3

Break the class into smaller teams or do as a class if the class is small.

Ask each group to list the elements that make up a marketing budget.

List cost categories that need to be covered (some are given on page 3-27).

Then rank them from most important to least important. Use the average budget figures for marketing, given at the bottom of the page.

Debrief each group’s answers.

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Skill Check #3

What this skill check covers

Show Slide #62 – Skill Check #3

This skill check covers Chapter 3- The Marketing Plan.

Setup Explain to participants that they will now complete the third skill check for this

Chapter. They will work individually to complete the skill check, and once complete (or time runs out) you will provide the answers which they can use to score themselves and use as a study guide for the exam on this Chapter. This skill check can be completed using their Marketing Participant Guide to look up the answers. Tell them not to feel the need to write whole sentences. Just notes to remind them of what the law covers or how to comply is fine.

Refer to Skill Check #3 in the Skill Checks tab of the Participant Guide. Explain that they have 15 minutes to complete the skill check.

Working time Allow participants 15 minutes to work. As they work, walk around the room

offering help where needed. When the time is up, ask participants to stop. It is OK if some participants did not finish.

Continued on next page

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Skill Check #3, Continued

Debrief

Distribute Skill Check #3 Answer Keys to participants. Discuss answers.

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Chapter 4: Fair Housing in Marketing and Advertising Estimated time: 45 minutes

What we’ll cover

In this chapter, we will briefly discuss the how the Fair Housing Act applies to marketing and advertising. As a CAM you will need to know how to create marketing and advertising that complies with the Fair Housing Act.

Show Slide #63

Encourage students to take notes in their text. The Participant Guide is a working document for them.

In addition, we critique some advertisements.

Overview of Fair Housing in Marketing and Advertising

Let’s look at what we are going to cover in this chapter.

Participant Guide page 4-1 Show Slide #64 - Fair Housing in Marketing and Advertising

List the topics that will be discussed in this chapter.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Developing your marketing plan to avoid fair housing problems

Participant Guide page 4-2 Show Slide #65 – Developing your marketing plan to avoid fair housing problems

Definition of Fair Housing

Show Slide #66 – FHA and Advertising

Review the Fair Housing Act.

Contact your local HUD or your state fair housing office for in-formation, collateral or materials available addressing marketing for both residents and landlords. They may have documentation that explains the tenant’s rights and landlord’s duties.

As always, state, county and municipal restrictions may expand the classes so protected.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Considera-tions in the marketing mix

Participant Guide page 4-3 Show Slide #67 – Considerations in the Marketing Mix

Using a flip chart page for each P, discuss as a class how to make

each free of fair housing violations. Use Participant Guide to get you started if need be.

Write answers on the flip chart.

Variation: If the class is large, divide into 5 groups and assign each group a different P to determine how to keep it free from fair housing violations. Review what each group did as a class.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued HUD Regulations (Affirmative Marketing) Participant Guide page 4-4

The Fair Housing Act expects both “for sale” and “for rent” housing to be marketed affirmatively. This means reaching out to those persons who would not otherwise know about your housing opportunities.

Show Slide #68 – Affirmative marketing

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Chapter 4: Fair Housing in Marketing and Advertising, Continued Fair Housing checklist

Participant Guide page 4-4 Stress the importance of using broad and inclusive data versus trying to narrow the research.

In your marketing plan, avoid statements such as “increase product awareness by 5% among young singles market”

Show Slide #69 – Fair Housing checklist

Review the slide listing the concerns to be addressed in the marketing plan.

Fair Housing checklist (continued)

To engage the class if time allows, you can:

For the following marketing tools, identify which ones have more defined or narrow distributions and which ones send specific imaging:

o Direct mail o Newspaper o Apartment Guides o Brochures o Radio/TV o Internet o Local merchants o Signage and billboards

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Measuring success

Participant Guide page 4-4

Always analyze results of a marketing plan or advertising initiative in terms of impact for protected classes.

Make sure to ask the questions listed on the slide. Show Slide #70 – Measuring Success

Review the items on the slide.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Tips on Fair Housing in Marketing

Participant Guide page 4-5

Show Slide #71 and #72 – Tips on Fair Housing Marketing

Review the items on the slide.

To engage the class, if time allows, you can: Ask them to share examples/situations of how they applied Fair

Housing to their marketing efforts.

Ask them to share a situation where they did not apply Fair Housing and what they would do differently next time.

Ask them to share any relevant examples of Fair Housing complaints alleging discrimination regarding marketing or advertising.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Warn students about placing any photos of residents on Facebook or other social networks as an advertising tool. The photos MUST be diverse and you MUST have written permission from the pictured residents that allows you to place their photos on-line. Also use extreme caution in your wording, which should be reviewed first by a supervisor.

Tips on Internet marketing

Participant Guide page 4-6 Show Slide #73 – Tips on Internet Marketing

Discuss use of the Internet as a marketing medium. Note that it is very easy for advocacy groups to monitor online advertising for discriminatory ads.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued Rent Specials and Concessions

Participant Guide page 4-7 When running a rent special or offering concessions such as “First

Month Free”, you run the risk for a discrimination claim if the special or concession is not applied consistently by onsite personnel.

Stress that the staff needs to be consistent in how they apply these programs in order to avoid a fair housing complaint.

Show Slide #74 – Rent Specials and Concessions

Read the slide to show how to keep specials and concessions non-discriminatory.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Symbolism in the Rental Office

Participant Guide page 4-8 Show Slide #75 – Avoiding Symbolism in the Rental Office.

Tips on Fair Housing in Advertising

Participant Guide page 4-9 Show Slide #76 – Tips on Fair Housing in Advertising

Review the bullets on the slide.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Phrases to Avoid

Participant Guide page 4-10 Show Slide #77 – Phrases to Avoid

Review the table in the participant guide and explain why these and similar phrases can be discriminatory. Point out that standard real estate terms are acceptable to use in advertising, such as family room, master bedroom, walk-in closet, jogging trails, etc.

Optional:

Ask participants if any of them have seen any other phrases used in advertisements for apartments that they felt were questionable. You may also provide additional examples of your own.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

References to Avoid

Participant Guide page 4-11 Discuss the references to categories to avoid in advertising. Point out that these are directly related to the protected classes, so you wouldn’t want to specifically either seek out or exclude any of these groups. Show Slide #78 – References to Avoid

Review the items on the slide. What other references would not be acceptable?

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Using Human Models in Advertising

Participant Guide page 4-12 Show Slide #79 – Using Human Models

Review the slide. Discuss that when using humans in advertising, you need to reflect those who represent the overall general population in the area, not just those people who live in the specific apartment community or the immediate surrounding neighborhood. Also point out that even if they use clip art, if the people or symbols displayed can be identified as from a protected class, it can still be discriminatory. For example if you have clip art using people in sombreros (national origin) or only couples with no children, you could still have a problem.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Continued on next page

Liability in Advertising

Participant Guide page 4-13 Show Slide #80 – Liability in for Discrimination

Discuss the ways that discriminatory advertising can come to the attention of enforcing agencies.

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Chapter 4: Fair Housing in Marketing and Advertising, Continued

Staff Training

Participant Guide page 4-13 Show Slide #81 – Staff Training

Discuss the importance of thorough staff training in the success of your marketing program.

Advertising channels

Ask participants to raise their hands and tell you some of the ways that they advertise their apartments at the community where they work. Choose a few of them to provide you with answers.

Flipchart their responses.

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Chapter 4: Fair Housing in Marketing and Advertising

What this skill check covers

Show Slide #82 – Skill Check #4

This skill check covers Chapter 4- Fair Housing in Marketing and Advertising.

Setup Explain to participants that they will now complete the fourth skill check for

this Chapter. They will work individually to complete the skill check, and once complete (or time runs out) you will provide the answers which they can use to score themselves and use as a study guide for the exam on this Chapter. This skill check can be completed using their Marketing Participant Guide to look up the answers. Tell them not to feel the need to write whole sentences. Just notes to remind them of what the law covers or how to comply is fine.

Refer to Skill Check #4 in the Skill Checks tab of the Participant Guide. Explain that they have 15 minutes to complete the skill check.

Working time Allow participants 15 minutes to work. As they work, walk around the room

offering help where needed. When the time is up, ask participants to stop. It is OK if some participants did not finish.

Debrief

Distribute Skill Check #4 Answer Keys to participants. Discuss answers.

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Chapter 5: Promotional Marketing Estimated time: 120 minutes

What we’ll cover

In this chapter, we will briefly discuss promotional marketing, what it is, its purpose and the components of it. As a CAM you will need to know how to do promotional marketing correctly.

Encourage students to take notes in their text. The Participant Guide is a working document for them. Show Slide #83 – Chapter 5

In addition, we will consider some promotional activities.

Optional: As an instructor, you might want to bring examples of the following advertising sources to class to stimulate class discussion.

o Apartment publications o Online Web site home pages o ILS listings o Newspapers o Direct mailers o Brochures o Radio/TV scripts o E-mail/general bulletin boards o Outreach mail or programs o Transit ads o Billboard pictures

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Overview of Promotional Marketing

Let’s look at what we are going to cover in this chapter.

Participant Guide page 5-1 Show Slide #84 – Promotional Marketing: Definition

Offer a definition of promotional marketing as noted on the slide with background from the Participant Guide if needed.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Definition of Promotional Marketing

Participant Guide page 5-2 As a CAM you will be responsible for doing promotional marketing.

Show Slide #85 – Promotional Marketing Topics

List the topics that will be discussed in this chapter. You may want to highlight some of the subtopics in each category.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Objectives of Promotional Marketing

Participant Guide page 5-2

You will first need to determine the purpose and then allocate funds. In determining purpose, make sure you reflect the four objectives.

Show Slide #86 – Promotion Objectives: AIDA

Module 5: Marketing

Chapter 5 86

Promotion Objectives:AIDA

Attention: awareness

Interest: knowledge/information

Desire: liking/preference

Action: conviction/purchase

Review the items on the slides.

Optional: To engage the class if time allows, you can:

Use any samples you have brought to class, to show AIDA. o Newspaper o Apartment guides o Classified Ads

Ask if any students have examples to share.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Types of Promotion

Participant Guide page 5-2 Show Slide #87 - Promotion Types

Review the bullet items on the slide which identify the four types of promotion. Mention that each will be discussed in detail starting first with Advertising.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Definition of Advertising

Participant Guide page 5-3 Show Slide #88 – Advertising: Definition

Review the slide stating the definition of advertising.

Purpose of Advertising

Participant Guide page 5-3 Show Slide #89 – Purpose of Advertising

Review the items on the slide.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Goals of Advertising

Participant Guide page 5-3

Show Slide #90 – Goals of Advertising

Review the items on the slide.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Advertising Strategies

Participant Guide page 5-6 Show Slide #91 and #92 – Advertising Strategies

Review the bullets on the slide.

Keep in mind that the best advertising does not cover up a problem.

Focus on the positive. Work to address any problems or negatives within your control.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Activity #4: Advertising Strategy

Participant Guide page 5-6 Show Slide #93 – Activity #4

Review the items on the slide before introducing the activity below.

Refer participants to Activity #4 in the Activities tab.

Divide participants into three groups and assign a strategy to each.

Give the participants 15 minutes to explore each advertising strategies, explaining how they would be implemented and tested.

Have them answer the questions associated with each strategy.

Come back together as a class and discuss.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Marketing Tools and Advertising Media Participant Guide page 5-7 – 5-18

There are many tools and media to use for marketing and

advertising. Consider advantages and disadvantages of each to achieve a

blended approach to marketing. Show Slides #94 and #95 – Marketing Tools and Advertising Media

Review the items on the slides discussing advantages and disadvantages of each.

Share samples.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Media Selection

Participant Guide page 5-19 Selecting the right tool for an advertising campaign depends on

your advertising objective. Show Slide #96 – Media Selection

Review the items on the slide.

Optional: If time allows, you can lead a discussion on where you would consider placing advertising in one or more of the following situations:

Inner city, older, main thoroughfare, residential surrounding

High-rise, upscale, urban warehouse renovation

Rural town homes, outlying area, nearest shopping 5 miles, remote

Suburban garden, intensely competitive neighborhood of like product

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Definition of Advertising Campaign

Participant Guide page 5-20 Show Slide #97 – Advertising Campaign: Definition

Review the slide to tell the definition of advertising campaign.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Advertising Campaign Development Process Participant Guide page 5-20

Show Slide #98 – Advertising Campaign Development Process

Review the slide to show the steps used in creating an advertising campaign.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Advertising Message and Theme

Participant Guide page 5-22 Show Slide #99 – Advertising Campaign: Message and Theme

Review the Slide.

Ask the class to provide examples of campaign themes they have

used.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Definition of Public Relations

Participant Guide page 5-24 Remind the class of the four types of promotion:

o Advertising o Public relations o Sales promotion o Relationship Selling

We are now discussing Public Relations. Show Slide #100 – Public Relations: Definition

Review the definition on the slide.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Public Relations Activities

Participant Guide page 5-24 Show Slide #101 – Public Relations Activities

Review the slide.

To engage the class if time allows, you can: Ask the class to give you examples of each of the different types

of public relation activities they have done or seen. You can discuss their effectiveness and what went right, and what should have been changed.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Public Relations Activities, (continued)

If examples are lacking: you can use the following: o Brand new, upscale apartment, 40 units confirmed with mold

and mildew following winter rains. The cause was multiple roof defects. The local news caught the story on Day 1 and it was all over the news as bad press for the apartment complex. What would you do in this situation?

Answers are: o Day 2:

Decision to relocate all residents, giving allowance and assistance Communication team comes in and sets up Letter sent to residents informing of situation Extra office staff, extra hours

o Following Days Continued communication with residents Researched mold issues Available to news teams for follow up stories Residents meet among themselves Press changes tone to sympathetic and informational instead of

accusatory. Apartment seen as victim, not problem Moving weekends provided sandwiches and traffic police

o Lessons Learned Fast decision making process Best defense is a good offense (communication) Residents talk to each other The truth works

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Definition of Sales Promotions

Participant Guide page 5-25 Remind the class of the four types of promotion:

o Advertising o Public relations o Sales promotion o Relationship Selling

We are now discussing Sales Promotion. Show Slide #102 – Sales Promotions: Definition

Read the slide giving the definition of sales promotion.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Sales Promotions Techniques

Participant Guide page 5-25 Show Slide #103 – Sales Promotions Techniques

Review the slide to show what sales promotion techniques are used for and what they encompass.

To engage the class if time allows, you can ask the one or more of the following questions: As the instructor, you can discuss the sales promotions in your

local market bringing advertising, surveys or other materials that depict the current market situation.

What is the status of sales promotions in your local market today? o Incentives o Concessions o Sales promotions

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Internal Marketing

Participant Guide page 5-26 Marketing efforts will be wasted if the staff is not of high-quality.

Ensure you hire high quality professionals. Encourage employee praise of each other.

Show Slide #104 – Internal Marketing

To engage the class if time allows, you can use one or more of the following questions:

How do you do internal marketing for employees? What has worked for you? What has not?

How do you do internal marketing for residents? What has worked for you? What has not?

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Definition of Relationship Selling

Participant Guide page 5-28 Remind the class of the four types of promotion:

o Advertising o Public relations o Sales promotion o Relationship Selling

We are now discussing Relationship Selling. Show Slide #105 – Relationship Selling: Definition

Review the slide.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Purpose of Relationship Selling

Participant Guide page 5-28 Show Slide #106 – Relationship Selling: Purpose

Review the slide stating the purpose of relationship selling.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Successful Sales Personnel

Participant Guide page 5-29 Show Slide #107 – Successful Sales Personnel

Review the slide showing factors that make for a successful sales person.

Ask the class if they can think of any others to add to this list.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Selling versus Marketing

Participant Guide page 5-30 Show Slide #108 – Selling versus Marketing

Review the slide highlighting the differences between selling and marketing.

What Marketing Involves

Show Slide #109 – Marketing Involves

Review the slide highlighting items that marketing involves versus selling.

Continued on next page

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Chapter 5: Promotional Marketing, Continued

Sales Promotions

Participant Guide page 5-30 Show Slide #110 – Sales Promotions

Review the slide.

Sales Activities

Participant Guide page 5-31 Show Slide #111 – Sales Activities

Review the slide.

Continued on next page

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Skill Check #5

What this skill check covers

Show Slide #112 – Skill Check #5

This skill check covers Chapter 5- Promotional Marketing.

Setup Explain to participants that they will now complete the final skill check for this

Chapter. They will work individually to complete the skill check, and once complete (or time runs out) you will provide the answers which they can use to score themselves and use as a study guide for the exam on this Chapter. This skill check can be completed using their Marketing Participant Guide to look up the answers. Tell them not to feel the need to write whole sentences. Just notes to remind them of what the law covers or how to comply is fine.

Refer to Skill Check #5 in the Skill Checks tab of the Participant Guide. Explain that they have 15 minutes to complete the skill check.

Working time Allow participants 15 minutes to work. As they work, walk around the room

offering help where needed. When the time is up, ask participants to stop. It is OK if some participants did not finish.

Continued on next page

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© 2014 National Apartment Association 111

Skill Check #5, Continued

Debrief

Distribute Skill Check #5 Answer Keys to participants. Discuss answers.

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Certified Apartment Manager (CAM) SM

Marketing

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Course Wrap Up

End of course That brings us to the end of the Marketing course. We have covered a lot of material today.

Course exam The CAM exam is delivered in 2-parts over a 4 hour period. Part I is 115

multiple-choice questions timed for 2 hours. Part II is 75 scenario-based multiple choice items, also timed for 2 hours. Both Parts of the CAM exam test knowledge and application of content from ALL 9 modules. The new CAM exam is ONLY delivered on a computer in a proctored environment. The exam is available at Affiliate offices and Castle Worldwide locations across the country. Click here to go to a testing site or visit www.naahq.org/education. Refer students to the Candidate Handbook for additional testing information. Participants will need an eligibility code to access the exam. The eligibility codes will be distributed by the local apartment association after completion of the required coursework. Upon completion of the NAAEI exams, participants will receive their results immediately. All participants will receive diagnostic information on their performance in the major content areas of CAM. If a participant passes their exam, they will receive a passing notice. If participants do not pass the exam, they will receive their score report, in addition to a profile of their strengths and weaknesses based on the domains (sections) included in the exam. Participants who do not pass the exam, may retake it again after 7 days. Retesting fees for one part of the exam at an association or Castle location is $80.00. Retaking both parts of the exam at an association or Castle location is $100.

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 1

Activity #1: Market Analysis

Instructions Review the particular case below assigned by your instructor. Answer the following questions with regards to why: • What could be causing these conditions? • Where would I go to find out? • Decide what type of market analysis (or analyses) to perform. • List the type of data to collect. • List possible data sources.Consider external factors such as new unit

completions, regional economic factors, and profile characteristics. Use the chapter to find the questions if you need to.

Once you have identified the answers, let the instructor know. After everyone has had a chance to discuss with their teams individually, there will be a general report out to the class.

Property 1 Built: 1994

Units: 338 Condition: Excellent Occupancy 97% - Budgeted for 92%, submarket – 95% Lease Rates (not market) down 4% from previous year Market Rates flat Loss to Lease $104 per lease, budgeted for $70 per lease Concessions 5% of rents, budgeted at 7% Rehab Interior lighting packages upon turnover Some premium upgrades for $60 more per unit Traffic Sources Locators (ranked) Drive By Internet and Apt publication Move-Out Reason Home Purchase (ranked) Job transfer Other Reason for Not Unit Type not available Leasing Preferred Competitor (ranked) Too Expensive

Continued on next page

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 2

Activity #1: Market Analysis, Continued

Property 2 Built: 1976

Units: 224 Condition: Below Average – attempting to reposition Occupancy: 86%, budgeted for 91%, submarket – 90% Market Rates Down 5% in last year, submarket – down .3% Collections: 8% of gross rents for no collections Traffic Sources Apartment Finder (ranked) Drive By Internet Capital Items Appliance replacements Re-carpeting Issues: Poor neighborhood reputation Ongoing underground plumbing leaks Make readies require extensive repairs and refurbishment

Property 3 Built: 1968

Units: 226 Occupancy 70%, budget for 85%, submarket – 90% Market Rents flat Concessions One month free, reduced deposits from $200 to $75 Issues Property is under contract to sell, but must meet occupancy budget prior to close All bills paid Traffic Sources Drive By (ranked) Resident Referral Flyers Avg. Traffic 4 walk-ins per week Move-Out Reason Skipped (ranked) Lost job Job transfer/closer to work

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 1

Activity #2: SWOT

Instructions Identify a particular problem or issue surrounding your apartment community and write it in the space below. Then complete a SWOT analysis using the worksheet.

Problem: Strengths Weaknesses

Opportunities Threats

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 1

Activity #3: Marketing Plan Budget Review

Instructions With your team, review the marketing plan for the nine components. Discuss what is good and what could be done better. Also, discuss what would you have done.

Marketing Plan

Refer to the ABC Marketing Plan in the Toolbox.

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 1

Activity #4: Advertising Strategy

Instructions In your individual groups, explore the advertising strategy assigned to you by the instructor. Explain how they would be implemented and tested and answer the associated questions. Be prepared to report back to the class on your discussion and decisions made.

Strategy 1 If your state does not protect “source of income” in an area with major

employers and higher education providers nearby, you may be able to establish a preferred employer or (PEP) program to attract new residents.

o What type of information materials will you take? o Who will be the primary contact at the target organizations? o Who will be the point person on site? o Will there be an incentive? What will you offer? o Which media will you use to get the word out about the program to

the general public? o What is the schedule for initial visits and ongoing returns o How will you attract potential residents from the companies and

schools to your location? Consider an open house for key people. o How will you measure reaction? o When will you begin and is there a conclusion to the campaign? o What is your numerical goal and timeframe? o Can you personalize by trade or product your approach with each

company and school? o Can you personalize your competitive advantage as it applies to each

company? o Will you develop a slogan or byline to characterize this value?

Continued on next page

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 2

Activity #4: Advertising Strategy, Continued

Strategy 2 Begin an annual community service program to improve your community

image, gain valuable publicity and provide community service opportunities for your residents. • How many functions will you hold through the year? • How will you select your beneficiaries? • What is your baseline message? • Does this program bear the prospect of continuing past the initial year?

Should it? • Who will make necessary contacts and try to match organizational

needs with your community strengths and weaknesses? • What media will you use and how often to get the word out? • Will you make a press release about the onset of the program? • How will you approach your residents with the plan? • Can you involve the residents or a steering committee in selection of a

program to sponsor? • How can you use this in your leasing efforts? • How will you measure success – in prospect sourcing? In retention

rates? In cancelled notices? How many equals success?

Continued on next page

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Certified Apartment Manager (CAM) SM Marketing

© 2014 National Apartment Association 3

Activity #4: Advertising Strategy, Continued

Strategy 3 Initiate an advertising campaign to compete with single family housing in an

in-town location. Use NAA balanced housing brochures and themes:

“In an emergency, you want to know he’ll be first on the scene” “What could make this evening even better – walking to it” “Just starting out and already they’re 30 years in debt” “Owning a house shouldn’t put dreams on hold”

• What groups do you target with each theme? • How can you get creative with each specific target? • For each target will you reach out in different ways? • Once you are through with a target – what happens to the theme? Or do

you incorporate all five and brand it as a ”handful” – focusing on one but keeping the other four ever present

• How often do you use and do you re-use each one? • Will you match media with target audiences or stick with just a couple

throughout the program and gain cohesiveness? • How will you bring the campaign into the onsite office? • Will you match these themes with resident retention? • When will you start and end? How much time is necessary to “string”

the related topics • Will you provide publicity events to get the word out? • How will you measure success? Applicant sources? Retained

residents?

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NAAEI thanks you for taking the Certified Apartment Manager (CAM) program.

Following is a list of items that you may find on the NAA Web site that may not be included in the program text that is to be used for your reference while taking the courses in this program:

• Supplement/Resource Materials • CAM Skill Checks and Answer Key • Additional Course Handouts

These files may be downloaded from the NAA Web site by visiting:

www.naahq.org/education/CandidatesOnly

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4300 Wilson Blvd., Suite 400Arlington, VA 22203

703/518-6141 Fax 703/[email protected]

www.naahq.org