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John T. Riordan School for Professional Development
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Marketing I Institute
Shopping Center Marketing: The Overview:
Role of today’s shopping center marketing director (strategic planner, financial planner); creating income and adding value; challenges facing today’s marketing directors (decrease in marketing funds; more pressure to enhance property cash flow, transition from creative director to sales person, measuring personal effectiveness); options as the position and industry matures; future role in the new model.
Marketing Plan Development:
Overview of the five step plan and its integrations with the business plan; Step One: Situation Analysis; Step Two: Problems and Opportunities (SWOT-strengths, weaknesses, opportunities, threats analysis); Step Three: Goals and Objectives; Step Four: Strategies; Fifth Step: Tactics; analyzing plan results.
Research and Analysis:
Basics of research; consumer research tools (shopper intercept surveys, telephone surveys, focus group interviews); center/competitive research tools (sales data, tenant evaluations, competitive analysis; relative draw index); market research tools (market definition, demographic/economic data); benchmark tools (sales benchmarks, consumer benchmarks, market benchmarks); research as tool (aiding development, leasing, marketing, management and revenue generation activities); trends in shopping center research.
*new class Advertising and Media Strategies:
The role of advertising (within the marketing plan; types of strategies; advertising budget); overview of advertising media; media terms and formulas (cost per thousand, gross rating points, cost per point, gross impressions, reach and frequency, ratings and shares, showings, page use); the creative process (choosing an agency, elements of effective advertising copy, elements of effective layout and design); the production process; accountability and results measurement.
Generating Revenue: Marketing’s Role in Increasing NOI:
Types of revenue (sponsorship; specialty retail; shopping center as advertising medium, event income, gift cards); understanding the benefits of adding value; the process (identifying prospects, identifying restrictions and constraints; developing a plan; making the plan work); determining success (based on pre-determined goals, affect on overall center value).
Public and Community Relations:
Communications with stakeholders (within your company, retailers, shareholders, community, customers, media, government); public relations tool kit (definitions and objectives, public relations marketing plan; PR mailing lists; gaining coverage; preparing news releases; using photographs; creating public service announcements; conducting news conferences; components of a press kit, public relations’ resources); hiring public relations agencies.
*new class Basics of Leasing and Specialty Leasing:
Leasing fundamentals (rent, CAM, real estate tax, marketing, restrictive clauses, identifying opportunities); developing a merchandising plan; identifying the tenant; making the deal; triggering tenant allowances; specialty leasing (terms and concepts; objectives; impact of sales on long term tenants; alternative revenue).
*new class Basics of Operations:
Understanding dynamics between different kinds of centers; lease administration (pro rata recoveries, fixed CAM, rent calculation, sales collection, sales and CAM audits); accounting and financial management; insurance and risk management; security; legal considerations; housekeeping, preventive maintenance and engineering; sustainability in operations; customer amenities.
Retailing and Tenant Productivity:
Understanding the retailer (business structure, types of retailers); fundamentals of retail merchandising (retail math, economics of retailing); retail and real estate (economics of retail types; retail site selection; store planning and merchandising of product); understanding the lease; basic communication between landlord and retailer; retailer retention; management team’s role in increasing productivity.
BONUS TEXTBOOK
ICSC Dictionary of Shopping Center Terms
An excellent reference to the language of the shopping center industry.
Terms and acronyms are translated into French, German, Portuguese and
Spanish. This publication is included with this program.
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