As the real estate industry becomes more mature, it is fast adopting corporatisation and branding practices to meet consumer expectations.
Oberoi Realty’s Reema Kundnani, Vice President, Marketing & Communication, speaks to 4Ps B&M’s Mona Mehta on how branding can help build trust and confidence among real estate buyers and sellers. Edited excerpts:
How is branding helping to change the image of the real estate industry?
The real estate industry is maturing and we are seeing a lot of corporatisation happening. The industry has now become serious about branding, positioning, promotions and building a reputation for itself like any other sector. In our case, Oberoi Realty has been positioned as a premium, high quality luxury brand in terms of project design and execution. That’s our USP and branding helps us maintain our track record in the industry.
What’s your approach to branding and what message it seeks to convey?
We believe in responsible branding and our adspend is geared towards consciously promoting our brand through responsible branding. Through our ads we tell customers what we stand for. The tagline of our ads say, “Our apartments are ready, are you?”Following the launch of Oberoi Splendour at JVLR at Andheri in Mumbai, we have moved 400 families into 3 BHK apartments that cost Rs.2.2 crore each.
Has branding helped in pushing sales and creating the right awareness?
Branding helps build the right perception in the minds of customers. The branding of Oberoi Realty, through which we target the upper premium income audience, is creating a similar perception in our TG. Right branding helps to create perceptions about ownership of a product with all its attendant benefits. By communicating about our brand, we have been able to create a vision of our product that’s high on technology and design experience.
What particular branding strategies have you gone for and how are they different from the others?
Oberoi Realty has adopted two to three innovative branding strategies. Firstly, Oberoi Realty has tried to create a brand pull. We have been able to communicate that ours is a brand with premium and luxury positioning quality and design. Secondly, we have focused on enriching the customer experience by letting customers feel and experience the product before they buy. Oberoi Realty has always tried to be different in its communication. We put up our ads without putting the location of the building, with the tagline, “location available on request.”
Does branding help real estate players to connect closely with consumers?
Branding is important for the real estate industry because there are thoughts, emotions and decisions involved in the purchase of your dream home. When it comes to expenses, buying a house is one of the costliest expenses for a buyer and there is a lot of emotional attachment involved. Oberoi Realty focuses on building high trust and transparency in all our projects. We do not discount prices because the involvement of buyers with the brand is that much higher.
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Source : IIPM Editorial, 2012
Oberoi Realty’s Reema Kundnani, Vice President, Marketing & Communication, speaks to 4Ps B&M’s Mona Mehta on how branding can help build trust and confidence among real estate buyers and sellers. Edited excerpts:
How is branding helping to change the image of the real estate industry?
The real estate industry is maturing and we are seeing a lot of corporatisation happening. The industry has now become serious about branding, positioning, promotions and building a reputation for itself like any other sector. In our case, Oberoi Realty has been positioned as a premium, high quality luxury brand in terms of project design and execution. That’s our USP and branding helps us maintain our track record in the industry.
What’s your approach to branding and what message it seeks to convey?
We believe in responsible branding and our adspend is geared towards consciously promoting our brand through responsible branding. Through our ads we tell customers what we stand for. The tagline of our ads say, “Our apartments are ready, are you?”Following the launch of Oberoi Splendour at JVLR at Andheri in Mumbai, we have moved 400 families into 3 BHK apartments that cost Rs.2.2 crore each.
Has branding helped in pushing sales and creating the right awareness?
Branding helps build the right perception in the minds of customers. The branding of Oberoi Realty, through which we target the upper premium income audience, is creating a similar perception in our TG. Right branding helps to create perceptions about ownership of a product with all its attendant benefits. By communicating about our brand, we have been able to create a vision of our product that’s high on technology and design experience.
What particular branding strategies have you gone for and how are they different from the others?
Oberoi Realty has adopted two to three innovative branding strategies. Firstly, Oberoi Realty has tried to create a brand pull. We have been able to communicate that ours is a brand with premium and luxury positioning quality and design. Secondly, we have focused on enriching the customer experience by letting customers feel and experience the product before they buy. Oberoi Realty has always tried to be different in its communication. We put up our ads without putting the location of the building, with the tagline, “location available on request.”
Does branding help real estate players to connect closely with consumers?
Branding is important for the real estate industry because there are thoughts, emotions and decisions involved in the purchase of your dream home. When it comes to expenses, buying a house is one of the costliest expenses for a buyer and there is a lot of emotional attachment involved. Oberoi Realty focuses on building high trust and transparency in all our projects. We do not discount prices because the involvement of buyers with the brand is that much higher.
For more articles, Click on IIPM Article
Source : IIPM Editorial, 2012
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