A synopsis on real estate marketing & branding assignment

The immediate results of “ value transfer” will be noticed when the new projects from this same brand will start reaping substantial acceptance and “ good will” in a relatively very short time. The successes and credentials of the master brand will start travelling around the market and offer new experiences to new customers and different target groups. The “ Necklace” of Projects: The dynamics of brand value creation and transfer in the real estate business could be compared to a “ necklace”. A combination of jewellery, pearls or precious stones linked together with common thread to form a valuable piece.

Each element or stone add to the value of the necklace but at the same time gets more value for being part of the same necklace with other valuable and attractive elements and pieces. The different elements need to keep a high level of harmony and fit between each other in order to be in the same necklace. This will drive the overall value of the necklace and make more than just the sum of the individual elements’ value. The Right Dose of Branding Branding and commodities goes in two opposite directions. As long as real estate companies are thinking in terms of “ projects” and “ developments” the eal estate branding process cannot reach its full potential in terms of value creation. Therefore, when companies realize that they are not only building apartments, villas, houses, offices, malls and recreational centres but “ communities” and “ lifestyle” in general, the shift in thinking and in business will start happening. An idea like “ community concept” will give a bigger role to the relationship between the brand and customers. This will project the brand role and relationship through time and make the creation and transfer of value a lifetime process.

They’re yelling louder to be heard in a growingly crowded market place. But there are a few problems with this approach for real estate: 1. The economics doesn’t work for small/medium scale projects. 2. Real estate is “ fundamentally” a people and trust business (TV ads don’t let us interact with the information and there simply isn’t enough time). 3. The real estate customer is getting more and more unreachable through traditional mass advertising(Due to busy schedules and information overload) . 4. So what should a real estate marketer do? he Internet, Newspaper, Magazines and most importantly “ Social Networks” are the most suited ways to reach this “ unreachable” real estate customer because it gives the customers the option to absorb information on their own terms (customer decides, when, where, how and at what pace he or she consumes the information). 5. We can publish a real estate newsletter for customers and prospects with some import information like; How to calculate carpet area and super built up area, Quality of raw material we are using, our foundation making process etc. . 6.

We should produce separate business sales literature for each of your target market segments (e. g. business and consumer). 7. We can create a poster , calendar or speciality items to give away to customers and prospects. Include “ testimonials” from customers in your literature, website and all other communication. 8. Announce free or special offers in our direct response pieces. (Direct responses may be direct mail, broadcast fax, or e-mail messages. ) Include the offer in the beginning of the message and also on the outside of the envelope for direct mail. 9.

Consumers often relate their experiences and goodness factor to these tangible factors and when repurchases and/or recommendations are made, the physical evidence factor becomes very important for a real estate business. Process: Process differentiates us from others and also ensures that the customer actually understands the value add, quality and service offerings of their business and how they are different from another business with the same service offering. Policies, procedures, flow of activates are all part of the process mix of real estate marketing.

The availability, accessibility and timeliness of the service. The ability to respond to enquiries and complaints in a timely fashion and Making the customer feel safe in their dealings with us, being thoroughly professional and ethical. As Mahatma Gandhi once said, “ A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him Mode of CRM: We can use E-mode to update clients who live away from the area of their investment about the development or construction undertaken at the site of their investment.

Interior planning of rooms being unsatisfactory. Lack of attached toilets in bedrooms. Plumbing/electrical lines lying open Size of?? toilets being too small Low resale value due to poor condition of?? the building. Vs Advantage of Redevelopment: Modern and better security, cleaning, and to operate pumps. Equipped with facilities like gymnasium and a society office. Modern and proper playing area for children in the compound. Strong structure . Modern elevators for the comfort of heart patients and the elderly. Modern and ?? proper entrance lobby .

Bigger room sizes.. Customised interior planning Modern attached toilets in bedrooms. Modern and underground plumbing/electrical lines . Bigger toilet. Higher resale value. Advantage of Redevelopment over Repair |?? | Repairs: |?? | Redevelopment: | | a) | The repair work can increase life of the building by 3 to 4 |?? | Redevelopment gives a new building for which no major repairs | | | years and the problems can reoccur after few years. | required for longer period. | |?? |?? |?? |?? | | b) | The old buildings are designed with old construction norms and|?? | New building is constructed with new construction norms and | | | hence cannot withstand with new climatic and geographic | | hence can withstand with new climatic and geographic | | | conditions. | | conditions. |?? |?? |?? |?? | | c) | For repairs members have to spend money. |?? | In redevelopment, members get Benefits in terms of money as | | | | | well as additional area. | |?? |?? |?? |?? | | d) In old building the steel inside concrete beams and column |?? | As the building is new this issue does not | | | starts corroding after 15-20 years which cannot be treated in | | | | | repairs. | | | Apart from above we can communicate about the project which we have redeveloped, customer’s testimonials, can make brand ambassador to the satisfied customers. . Name Game in Real Estate Industries Now more than 80% apartments and residential towns, have western names such as Hamilton Heights, C a s a Essenza, Mayfield Garden, Panache Homes, Mayfair Pentagon and Mayfair Meridian among others . I believe that for premium properties, since the design and master planning is primarily done by international architects , project names also need to reflect and compliment the same.