PRD's Project Marketing History
The Project Marketing techniques currently used by PRD were first introduced on the Gold Coast during the mid-seventies. Since that time they have been refined, but the fundamental concepts remain the same.
PRD evolved from a consultancy company called ‘Project, Research and Development’. This firm was created to provide developers with information relating to market trends and used research to offer advice based on objective information. To this end, PRD has always maintained a significant research capability.
The shift in the mid-seventies from a consultancy advice role to one of active involvement in Project Marketing occurred out of necessity as the market demanded a realty company offer a higher degree of service and accept a greater level of responsibility for project outcomes. Hence, PRD was born.
PRD changed the landscape by identifying that the most effective way to successfully sell a major development was through a total, seven day a week commitment from a salesperson whose efforts were contained to selling that product, and that product alone.
For the first time, buildings were manned by a project sales manager and furnished display units were created – a successful strategy that is still employed today.
Media outlets were engaged to promote the product to a wide market and public relations activities used rather than traditional advertising campaigns.
Project marketers highlighted the total benefits offered by the project; not just those of a particular apartment, but also the complex as a whole and the lifestyle offered by the city in general.
All agents operating in the area provided assistance with sales and the benefits of the product were marketed to all interests that might influence the decision of a potential buyer to purchase.
Outside agents were paid full REIQ commission on all products they sold, with PRD receiving an overriding commission from the developer. It was this concept of sharing and getting multiple parties involved in marketing the product to the benefit of all stakeholders that made a real difference.
Today, PRD Project Marketing still offers specialist project marketing and selling consultancy services for developers, with the flexibility and capability to provide tailored marketing and sales plans for each project.