You will often find that many people confuse marketing with advertising or vice versa. While both components are important they are very different. Knowing the difference and doing your market research can put your company on the path to substantial growth.
Let's start off by reviewing the formal definitions of each and then I'll go into the explanation of how marketing and advertising differ from one another:
Advertising: The paid, public, non-personal announcement of a persuasive message by an identified sponsor; the non-personal presentation or promotion by a firm of its products to its existing and potential customers.
Marketing: The systematic planning, implementation and control of a mix of business activities intended to bring together buyers and sellers for the mutually advantageous exchange or transfer of products.
After reading both of the definitions it is easy to understand how the difference can be confusing to the point that people think of them as one-in-the same, so lets break it down a bit.
Advertising is a single component of the marketing process. It's the part that involves getting the word out concerning your business, product, or the services you are offering. It involves the process of developing strategies such as ad placement, frequency, etc. Advertising includes the placement of an ad in such mediums as newspapers, direct mail, billboards, television, radio, and of course the Internet. Advertising is the largest expense of most marketing plans, with public relations following in a close second and market research not falling far behind.
The best way to distinguish between advertising and marketing is to think of marketing as a pie, inside that pie you have slices of advertising, market research, media planning, public relations, product pricing, distribution, customer support, sales strategy, and community involvement. Advertising only equals one piece of the pie in the strategy. All of these elements must not only work independently but they also must work together towards the bigger goal. Marketing is a process that takes time and can involve hours of research for a marketing plan to be effective. Think of marketing as everything that an organization does to facilitate an exchange between company and consumer.
Banking,Marketing & Real Estate
A Few Valid Information On Ways To Bank And Invest Into Jamaican Real Estate.
Friday, December 3, 2010
First Steps to Marketing a Small Business
It's difficult to start a business, let alone learn how to market it. It's not uncommon for new and small business owners to find themselves in the marketing role and quickly becoming overwhelmed. Don't worry, I'm here to help. There are marketing basics that are important to every small business owner. Marketing is not an expense it's an investment and it's important to have a clear understanding on where to start investing. If you can get this, you are one step ahead.
Let's talk about the basics, shall we? By the end of this series you'll have a clear understanding of not only what marketing is and why you should do it, but you'll also be well on your way to creating your own marketing plan. With a plan in hand and a basic understanding you will have taken the risk out of where your putting those marketing dollars.
What is Marketing?
We often hear about marketing and when we own a business we know it's something we are supposed to do, but what is marketing? There are so many definitions that describe marketing as small business owners understanding what it is can leave us confused. We hear about sales, advertising, public relations and marketing. Is there a difference? There is a difference and when that difference is understood it's easier to understand what tasks should be handled by specific roles within the company and under the specific actions entitled marketing. Good marketing is critical to the success of any business and understanding what it is will help your small business get started on the right foot.
Why Marketing is Worth the Expense
Many companies view marketing as an expense. Truth is when a business understands the importance and the role it plays in growing a business it's clear on why it should be considered an investment. Marketing is crucial when it comes to gaining the attention of prospective consumers and clients, developing products or service demand and turning those prospective consumers into customers. Marketing has an affect on your sales, pricing, promotions and your advertising strategies. When understand the importance of marketing you can use it to promote the ongoing transition of your services and products to the consumer; this can create success in your small business.
Understanding Market Research
Market research helps you to determine how your product or service will be accepted among different demographics. This information can help you in establishing which segment of consumers will have an interest in your product and services and ultimately end up purchasing from you. You can use market research to gain specific information such as determining the age group, gender, location, and income level of potential customers that you should target using your marketing message. Market research enables you to create a marketing plan for your small business that is not only effective, but also cost efficient.
Why Marketing Research is Important to Your Business
You've done your homework and you've invested time in marketing research, so why should you care about marketing research? There is a difference, let me explain. Market research gives the information that you need regarding the market. Marketing research is delving into the behavior and buying habits of a specific segment that you have decided to target and ultimately it saves you money in by helping you avoid costly marketing mistakes. Learn why it's important and how you can use it to be create effective marketing strategies for your small business.
Why Consumers Buy What They Buy
Our marketplace is changing, we see this in the spending habits of consumers as well as in the economy. Consumers are looking for something more than a flashy ad or attention grabbing commercial when considering where to spend their hard earned money. Learn why consumers buy what they buy and how you can influence their decision.
Marketing a Product vs. Marketing a Service
Marketing a service is different than marketing a product. There are certain things you need to consider and different steps you need to take in order to help the consumer feel comfortable. Learn what you what you need to do differently in order to market your service effectively.
What is a Marketing Plan?
A marketing plan serves as a roadmap when it comes to your marketing initiatives. It details the success route that you will need to follow to get your small business noticed by potential customers. A detailed marketing plan will show you what to do and help you understand why you are doing it. It will also help you navigate away from the marketing and business mistakes that will cost you money, time and future growth potential. As a small business owner equipped with a marketing plan, you will feel more organized, have more confidence and a clear vision when it comes to your marketing goals. Put in simple terms a marketing plan increases your chance to achieve the business success that you desire.
Create a 90 Day Marketing Plan
If you've never created a marketing plan, I also suggest that you try doing the 90-day plan. It is less intimidating and helps you to focus on the short-term need. You can also focus on the immediate needs of the company. There are many benefits to creating a 90-day plan. Learn how a 90-day plan can keep you on target and help in your overall master planning.
Marketing Trends for the New Decade
How will your business do in the next decade? I think that all depends on how you market and the relationships that you create and cultivate. It's time to pull those marketing dollars back that aren't working for you and begin to invest them in ways that will give you more of a return. If you are ready, what are you waiting for? I give you my Marketing Predictions for 2010 and the decade that follows - out with the old and in with the new.
Let's talk about the basics, shall we? By the end of this series you'll have a clear understanding of not only what marketing is and why you should do it, but you'll also be well on your way to creating your own marketing plan. With a plan in hand and a basic understanding you will have taken the risk out of where your putting those marketing dollars.
What is Marketing?
We often hear about marketing and when we own a business we know it's something we are supposed to do, but what is marketing? There are so many definitions that describe marketing as small business owners understanding what it is can leave us confused. We hear about sales, advertising, public relations and marketing. Is there a difference? There is a difference and when that difference is understood it's easier to understand what tasks should be handled by specific roles within the company and under the specific actions entitled marketing. Good marketing is critical to the success of any business and understanding what it is will help your small business get started on the right foot.
Why Marketing is Worth the Expense
Many companies view marketing as an expense. Truth is when a business understands the importance and the role it plays in growing a business it's clear on why it should be considered an investment. Marketing is crucial when it comes to gaining the attention of prospective consumers and clients, developing products or service demand and turning those prospective consumers into customers. Marketing has an affect on your sales, pricing, promotions and your advertising strategies. When understand the importance of marketing you can use it to promote the ongoing transition of your services and products to the consumer; this can create success in your small business.
Understanding Market Research
Market research helps you to determine how your product or service will be accepted among different demographics. This information can help you in establishing which segment of consumers will have an interest in your product and services and ultimately end up purchasing from you. You can use market research to gain specific information such as determining the age group, gender, location, and income level of potential customers that you should target using your marketing message. Market research enables you to create a marketing plan for your small business that is not only effective, but also cost efficient.
Why Marketing Research is Important to Your Business
You've done your homework and you've invested time in marketing research, so why should you care about marketing research? There is a difference, let me explain. Market research gives the information that you need regarding the market. Marketing research is delving into the behavior and buying habits of a specific segment that you have decided to target and ultimately it saves you money in by helping you avoid costly marketing mistakes. Learn why it's important and how you can use it to be create effective marketing strategies for your small business.
Why Consumers Buy What They Buy
Our marketplace is changing, we see this in the spending habits of consumers as well as in the economy. Consumers are looking for something more than a flashy ad or attention grabbing commercial when considering where to spend their hard earned money. Learn why consumers buy what they buy and how you can influence their decision.
Marketing a Product vs. Marketing a Service
Marketing a service is different than marketing a product. There are certain things you need to consider and different steps you need to take in order to help the consumer feel comfortable. Learn what you what you need to do differently in order to market your service effectively.
What is a Marketing Plan?
A marketing plan serves as a roadmap when it comes to your marketing initiatives. It details the success route that you will need to follow to get your small business noticed by potential customers. A detailed marketing plan will show you what to do and help you understand why you are doing it. It will also help you navigate away from the marketing and business mistakes that will cost you money, time and future growth potential. As a small business owner equipped with a marketing plan, you will feel more organized, have more confidence and a clear vision when it comes to your marketing goals. Put in simple terms a marketing plan increases your chance to achieve the business success that you desire.
Create a 90 Day Marketing Plan
If you've never created a marketing plan, I also suggest that you try doing the 90-day plan. It is less intimidating and helps you to focus on the short-term need. You can also focus on the immediate needs of the company. There are many benefits to creating a 90-day plan. Learn how a 90-day plan can keep you on target and help in your overall master planning.
Marketing Trends for the New Decade
How will your business do in the next decade? I think that all depends on how you market and the relationships that you create and cultivate. It's time to pull those marketing dollars back that aren't working for you and begin to invest them in ways that will give you more of a return. If you are ready, what are you waiting for? I give you my Marketing Predictions for 2010 and the decade that follows - out with the old and in with the new.
Breaking Into the Career Field of Marketing
A career in marketing is enjoyable and fun. Most people who work in marketing will tell you it provides them with the challenge they have always wanted. The reason being is marketing is always changing; there are always techniques to learn, cases to study, and strategies to research.
Do you have what it takes?
As a marketing major you can gain experience in your chosen career by participating in an internship or volunteering in service learning and community projects. Samples of potential experiences include:
Don't worry. I think you will find the statistics in the chart to the right not only interesting, but encouraging. The table below shows the percentage and the degree background of new graduates that have begun a career in marketing.
So now that I've given you hope, how do you get your foot in the door? It will take determination and persistence, but it can be done. You will find that a start in marketing will normally put you in an entry position as a market research assistant, print buyer, general management trainee, or you can enter a program as a graduate trainee.
A few companies that offer marketing graduate trainee programs include:
Mars
Mars does not have a specific marketing training program for graduates. They run a cross-functional management development program, through which graduates have access to opportunities in marketing. Recruits to the program are typically given three to four assignments, the first of which may be related to their experience or studies. The remaining assignments will be in other areas, and one may be overseas. Their goal is to broaden trainees' experiences.
Nestle
Nestle has recently changed its approach to hiring graduates. Nestle recruits in a similar fashion as to how they recruit other employee levels. Each department now recruits graduates throughout the year on an 'as-required' basis. Vacancies will be posted and advertised throughout the year.
Procter and Gamble
Procter & Gamble's graduate training program recruits graduates into one of eight career tracks, including consumer and market knowledge and marketing. Consumer and market knowledge involves sophisticated and proactive market research-based work to identify business opportunities, including new product development. The marketing function involves growing the value of brands within the P&G product range. Marketing trainees will learn about advertising, PR, consumer bonding, direct marketing and project management within their first two years. The applicants are selected according to application form, a problem-solving test, interview, and site visit, where they will meet prospective managers and colleagues.
If you decide that the graduate training program route is not for you; you can still break into the field of marketing by being persistent. You will need to be willing to take on an entry-level position in most marketing agencies and work your way up. If this isn't a problem then it's time to begin your first marketing assignment, which is marketing you by developing that resume.
Do you have what it takes?
- Can you communicate your thoughts, ideas, and information clearly and concisely both in writing and verbally?
- Are you able to recognize problems and devise an appropriate plan of action to resolve that problem?
- Can you organize and interpret complex data?
- Are you good at generating new ideas? Can you then take and organize those ideas and communicate them verbally?
As a marketing major you can gain experience in your chosen career by participating in an internship or volunteering in service learning and community projects. Samples of potential experiences include:
- Conducting Market Research for a Fortune 500 Company.
- Promoting products through development of Point-of-Purchase displays.
- Spending time reviewing potential cost, price, and market research for service programs.
- Learning how to research customer base potential using available data.
- Designing an advertising or promotional campaign to promote new services.
- Developing a marketing plan for a global business.
Don't worry. I think you will find the statistics in the chart to the right not only interesting, but encouraging. The table below shows the percentage and the degree background of new graduates that have begun a career in marketing.
So now that I've given you hope, how do you get your foot in the door? It will take determination and persistence, but it can be done. You will find that a start in marketing will normally put you in an entry position as a market research assistant, print buyer, general management trainee, or you can enter a program as a graduate trainee.
A few companies that offer marketing graduate trainee programs include:
Mars
Mars does not have a specific marketing training program for graduates. They run a cross-functional management development program, through which graduates have access to opportunities in marketing. Recruits to the program are typically given three to four assignments, the first of which may be related to their experience or studies. The remaining assignments will be in other areas, and one may be overseas. Their goal is to broaden trainees' experiences.
Nestle
Nestle has recently changed its approach to hiring graduates. Nestle recruits in a similar fashion as to how they recruit other employee levels. Each department now recruits graduates throughout the year on an 'as-required' basis. Vacancies will be posted and advertised throughout the year.
Procter and Gamble
Procter & Gamble's graduate training program recruits graduates into one of eight career tracks, including consumer and market knowledge and marketing. Consumer and market knowledge involves sophisticated and proactive market research-based work to identify business opportunities, including new product development. The marketing function involves growing the value of brands within the P&G product range. Marketing trainees will learn about advertising, PR, consumer bonding, direct marketing and project management within their first two years. The applicants are selected according to application form, a problem-solving test, interview, and site visit, where they will meet prospective managers and colleagues.
If you decide that the graduate training program route is not for you; you can still break into the field of marketing by being persistent. You will need to be willing to take on an entry-level position in most marketing agencies and work your way up. If this isn't a problem then it's time to begin your first marketing assignment, which is marketing you by developing that resume.
Develop Your Annual Marketing Plan
January many businesses sit down to revisit their business plan, but pay no attention to their marketing plan. There is never a better time than the end of the year or beginning of a new year to sit down and reflect on what worked for you and what didn't. It's also a great time to develop a marketing calendar for the upcoming year.
An annual marketing plan will assist you in figuring out what it is that you need to do, how to do it, and when to do it. This marketing plan should go hand-in-hand with your business plan and development.
In this marketing course we will revisit your marketing goals and determine what it is that you hope to achieve in the upcoming year with your marketing efforts. Often companies avoid this process because they don't know where to begin the process. That is what I am here for. Over the next eight weeks I will walk you through the steps of creating a solid marketing plan. At the end of our course you will have completed the following:
An annual marketing plan will assist you in figuring out what it is that you need to do, how to do it, and when to do it. This marketing plan should go hand-in-hand with your business plan and development.
In this marketing course we will revisit your marketing goals and determine what it is that you hope to achieve in the upcoming year with your marketing efforts. Often companies avoid this process because they don't know where to begin the process. That is what I am here for. Over the next eight weeks I will walk you through the steps of creating a solid marketing plan. At the end of our course you will have completed the following:
- Preparation of your mission statement and vision for the upcoming year.
- Discover and define your niche markets.
- Describe and identify your services.
- Develop and plan your marketing strategy.
- Explore and identify your competition.
- Create quantifiable marketing goals.
- Create a marketing calendar that contains a month-by-month schedule of marketing activities and events for the upcoming year.
- Learn how to monitor the results of your marketing efforts.
Thursday, December 2, 2010
Real Estate For Sale in Jamaica - Available Properties (Part I)
Home For Sale in Mandeville, Manchester Jamaica - Lot # 2 Marshall Drive | $390,000 USD | |||||
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Country Home/Retreat For Sale in St Andrew Jamaica - Mount Airy District | $495,000 USD | |||||
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Substantial Luxury Duplex For Sale in Montego Bay, St James Jamaica - Montego Bay | £350,000 | |||||
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2 Bedroom Townhouse For Sale in Montego Bay, St. James Jamaica - Mango Walk | $175,000 USD | |||||
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Private Residence For Sale in Montego Bay / Rose Hall/ Spring Farm, St. James Jamaica | ||||||
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Manufactured/Mobil Home For Sale in Kingston Jamaica | $243,000 USD | |||||
Come Home And Relax In Cool Jamaica - 5 bedrooms, 3 bathrooms, 2 kithchens, living and dining, and varendah. Approximately 2,000 square feet concrete structure with glass louvres. 1/3 acre well fruited flat/level land with such delights as mango, guava, ackee, sweetsop, orange ... | ||||||
Home For Sale in Manchester Jamaica | $400,000 USD | |||||
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Home For Sale in Manchester Jamaica | $400,000 USD | |||||
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Real Estate For Sale in Jamaica - Available Properties (Part II)
Penthouse Apartment For Sale in Ocho Rios, St Ann Jamaica | $258,000 USD | |||||
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Sea Front Luxury Villa For Sale in Port Maria, St. Mary Jamaica | $1,650,000 USD | |||||
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Home Plus Land For Sale in Santa Cruz, St Elizabeth Jamaica - Longwood District | £105,000 | |||||
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Lot/Land For Sale in Montego Bay, Jamaica | $65,000 USD | |||||
1/3 Acre In Irwin Point /Beautiful Location In Montego Bay - Terrific location on a hill in Irwin Point. Beautiful homes being constructed as well as the new University of West Indies campus in the vicinity. Doctors and lawyers building their homes in this area, great area to build and live! Cool breeze ... | ||||||
Lot/Land For Sale in Negril, Westmoreland Jamaica | $1,500,000 USD | |||||
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Luxury 4bdrm Villa For Sale in Runaway Bay, St Ann Jamaica - 8 Edwards Avenue | $429,900 USD | |||||
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2 & 3 Bedroom Luxury Condos For Sale in Ocho Rios, Jamaica - Main Street | $360,000 USD | |||||
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Unique Home For Sale in South Sea Park West Whitehouse, St. Elizabeth Jamaica | $450,000 USD | |||||
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Villa For Sale in Golden Grove/ Crescent Park, St. Ann Jamaica | $140,000 USD | |||||
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Villa For Sale in Montego Bay Jamaica - Coconut Cottage | ||||||
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Luxury Villa's For Sale in Runaway Bay, St. Ann Jamaica | $850,000 USD | |||||
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House Plus Apartments For Sale in Port Antonio, Portland Jamaica | $249,000 USD | |||||
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1.5 Acre Ocean View Lot For Sale in Spring Farms Montego Bay, Jamaica | $260,000 USD | |||||
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Single Family For Sale in Portland, Port Antonio Jamaica - Lot #2 | ||||||
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Seafrontlots For Sale in Strawberry Fields/Robins Bay, ST.MARY Jamaica - Robins Bay P.A. | ||||||
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Luxury Villa For Sale in Clarendon, Osborne Store Jamaica - Bustamante Highway | $115,499 USD | |||||
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House For Sale in Morant Bay, St. Thomas Jamaica | $232,000 USD | |||||
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5 Bedroom Bungalow For Sale in Petersfield, Westmoreland Jamaica | $240,000 USD | |||||
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Luxury Villa And Studio 7 Bedrooms For Sale in Runaway Bay, Jamaica | $1,500,000 USD | |||||
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Home For Sale in Christiana, Manchester Jamaica | $325,900 USD | |||||
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Real Estate For Sale in Jamaica - Available Properties (Part III)
Ocean View Lots For Sale in Jamaica - South Coast | $39,900 USD | |||||
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Lot/Land For Sale in Lacovia, St. Elizabeth Jamaica | $800,000 USD | |||||
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5 Bed Family Home Plus 2 Bed Rental Appartment For Sale in Mandeville, Manchester Jamaica | $375,000 USD | |||||
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2 Bed/Bath Apartment For Sale in Montego Bay, Saint James Jamaica - Pinehurst, Sterling | $200,000 USD | |||||
Spacious Apartment In Ironshore Community Of Montego Bay - Spacious apartment in the exclusive Ironshore community. The complex is adjacent to the Ironshore Golf Club and minutes away from Montego Bay. The complex boasts pool, gym, clubhouse, and water tanks. Additional features include 24 hour security ... | ||||||
Villa For Sale in Runaway Bay, St. Ann Jamaica - #230 Caribbean Village | $125,000 USD | |||||
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Lot/Land For Sale in Sligoville, St. Catherine Jamaica - Main Street | $34,000 USD | |||||
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Plot Of Land For Sale in Negril, West End Jamaica | $105,000 USD | |||||
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Home For Sale in Baulk District, Westmoreland Jamaica - Friendship P.O. | $275,000 USD | |||||
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Seafront,luxury Villa,condos in Portland, Jamaica - Ross Craig | $125,000 USD | |||||
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4 Bedroom Detached House For Sale in Runaway Bay, St Ann Jamaica | $375,000 USD | |||||
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Single Story Oceanfront Dream Home For Sale in Whitehouse, Westmoreland Jamaica - 78 South Sea Park | $450,000 USD | |||||
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Oceanfront Cottages For Sale in Galina, St. Mary Jamaica | $1,795,000 USD | |||||
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Bed and Breakfast For Sale in Negril, Westmoreland Jamaica - West End Road | ||||||
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Ocean View Home For Sale in Montego Bay, St James Jamaica | $500,000 USD | |||||
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10 Minutes Drive From Mandeville For Sale in Jamaica - Spur Tree | $450,000 USD | |||||
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Villa For Sale in Negril, Westmorland Jamaica | $250,000 USD | |||||
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Townhouses For Sale in Mandeville, Jamaica | $193,000 USD | |||||
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Beach House For Sale in Treasure Beach, St Elizabeth Jamaica | $600,000 USD | |||||
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In Residential Area In Whitehouse For Sale in Whitehouse, Westmoreland Jamaica | $218,000 USD | |||||
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Oceanfront,cliffside Cottages For Sale in Negril, Jamaica - West End Rd | $1,500,000 USD | |||||
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