The Hindu : Kerala News : Branding becomes the order of the day

Online edition of India's National Newspaper
Monday, Oct 29, 2007
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Kerala

Kerala

Branding becomes the order of the day

The popularity of branding, of late, has begun to call the shots in the real estate segment. As branding is gradually becoming the order of the day, all players in the realty segment are trying their best to create their own brand visibility.

It’s an age of branding. Everything from detergent powder to diamonds tends to move well in the market only if they are properly branded. And interestingly, people too have acquired a penchant for products that are adequately branded. Moving with the times, most companies are giving utmost care in branding their products for better brand visibility. And still, many are going to the extent of rebranding their products and services to survive in the fiercely competitiv e market. Constant and effective communication is an important element in establishing a brand image and in the current scenario none can afford to compromise on that sphere.

With Malayalis having become more brand conscious over the years, the current trend in housing segment is oscillating towards the brand value of builders. The popularity of branding, of late, has begun to call the shots in the real estate segment. As branding is gradually becoming the order of the day, all players in the realty segment are trying their best to create their own brand visibility. "When a brand becomes popular, the company that it owns always tries to live up to the expectations of their customers without compromising on theirproducts and services. This, perhaps, can be the best part of a good brand", observes Santosh Menon of a leading PR consultancy whose profile include successful brand promotion of some of the best-known brands in Kerala.

From a fledgling builder in 1989 Skyline has grown over the years into the largest home builder in Kerala. Skyline has to its credit 58 completed projects and 38 ongoing projects in six cities across the state. A strong clientele base of over 4000 home owners in 38 countries is the mainstay of Skyline Builders.

Remarkably, the builders have sensibly realised that, Kerala’s socio-economic milieu is witnessing vast changes and as a result of which the lifestyles of Malayalis are getting transformed beyond all expectations. And, housing is said to be one such area where significant changes are occurring constantly. Resultantly, in order to rise up to their aspirations, all major realtors are increasingly rallying after brand building promotions. "Today the customers are too conscious and we can convince them only thorough our professional attitude. More importantly it is the brand value of a builder that finally counts and decisions are always taken looking at the brand value of the company", says Anumod Menon of Manjooran Housing. It is also the brand value that prompts quality assurance in a segment like real estate, adds he.

With the demand for apartments and villas becoming steep, more and more players are entering the market. Finding a buoyant market, real estate developers from outside the state are also making a beeline for Kerala. Sobha, DLF, Sahara, Nagarjuna, Prestige, Puravankara etc are some of the big league developers who have recently entered the real estate sector in Kerala in a big way. With hectic activities going on, apartments and villas are also getting classified like budget, luxury and super luxury class. This is due to the fact that builders want to let everyone know that they cater to all class of people and subsequently to make their presence felt in every category.

In recent times, various brand-building exercises have become an important portfolio of both builders and developers in Kerala. This has happened owing to the factor that the real estate sector is bourgeoning at a faster pace in the state.

It’s also due to the fact that, finding huge growth potential, too many players are entering the segment and the realty scene in Kerala is fast getting crowded.It is at this point that the builders have started taking strategic measures for brand building in an efficient manner. Today, most of the having operations in Kerala, are on a war footing to effectively highlight their brand among the potential buyers. Builders are of the opinion that all the prospective clients have one trait in common, before investing, they always give utmost priority to the credentials of the builder.

"Because, by investing in real estate you are entering an altogether different investment platform where mutual good faith will have to stay intact for several years" says Ajith of Heera Constructions. Finding the importance of branding, most builders in Kerala have roped in cricketers, film stars and othercelebrities as their brand ambassadors.

It’s become very evident that in these times of cut-throat competition, only those builders with good brand value can only survive which can be attained only through correct pricing, prompt delivery and good after sales. After all, this is a business of reputation.

SUNIL NALIYATH

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