1.Do you believe that re-branding and celebrity endorsements is one of the
Strongest tools for real estate developers who wish to create a unique identity? Could you please elaborate?
A: Celebrity endorsement and rebranding is a strong tool being extensively used by the real estate developers these days to create a strong brand identity. As is the case with most of the advertisements, a product i.e. In this case too, the real estate company in order to catch more eyeballs and reach out to the young audience these days who work for the MNCs having double income with both husband and wife earning and no children are potential investors in the real estate. As the saying goes that home is where the heart is holds equally true for developers to attract this category of buyers/investors in home buying. Yes, Celeb endorsement helps in building brand equity for a developer.
2. Should the role of branding be only limited to promotions? Please explain? A: The role of branding should be limited to promotions. At the end of the day, the product or the flat/villa what you promise and deliver is what matters. Branding only helps in promotion of any property.
3. Have you taken any celebrity as brand ambassador? If yes, then has it
Delivered desired results?
A: No we haven’t taken any celebrity as brand ambassador. Our company believes that the three golden principles for the success of any organization are: Trust, Transparency and commitment to our customers as well as investors.
4. Do you have any such plan to associate with some celebrities? If you have one, please name the celebrity and why did you chose him/her for your promotion?
A: As of now, we haven’t hired any celebrity for our promotion. For the Premia Group our CMD, Mr. Tarun Shienh, the Real Estate Guru is himself an icon. The investors have an unflinching trust and faith in his leadership quality and that is the main driving force for the Group.
5. Do you agree that big developers utilize the brand image of celebrities for
their luxury projects as they target selected buyers. What would be the revenue impact of the company on such endorsement move?
A: Yes, indeed it is true that big developers heavily depend on the brand image of celebrity for selling their premium and ultra-luxury Projects. It does have great implications on company’s revenue spend for such endorsements. Since the real estate developers spend a lot of money for promoting ultra luxury big ticket projects and the target buyers don’t mind paying a little more for buying a premium Property, the endorsement cost of the Celeb gets offset for the developer. In my opinion, the developers don’t mind shelling out moneys for celeb endorsement, as they can afford them looking at the overall benefit for selling their projects. The quality of the construction material for building a flat really is what matters and the reputation and trust build over a period of time.
6. If endorsement plan is a positive move for you, which medium (say, internet, print, television, radio or hoardings) has the maximum impact?
A: In my opinion hoardings that build a larger than life image for the developer’s project followed by Print and Television certainly play a role in enhancing the brand equity of any property. Radio has its own advantage followed by Internet are equally important tools for brand building.
7. What is your budget for such plan, if you would like to invite some celebrities for endorsement?
A: Since we really don’t believe that celeb endorsement works, that’s why we don’t wish to qualify any budget. Our CMD,Mr. Tarun Shienh, the acknowledged Real Estate Guru is himself an icon for the Premia Group, we don’t endorse celeb factor.
8. 2013 have witnessed a trend of star endorsements, will the trend continue
in 2014? Will there be more stars shining on the real estate skyline?
A: Yes, indeed the year 2013had witnessed star endorsements by some of the leading developers for endorsement of their premium projects. Yes, in 2014 too, developers will continue to depend on celebs for their brand building by paying huge moneys for brand building .There will be more star studded realty projects shinning on the real estate skyline. In my humble opinion for the real estate developer a celeb endorsement works to a point of brand building/ brand identification. Beyond that what really matters is the deliverables, the trust and the customer-satisfaction that the developer is able to gain .In the long run, if the realtor is able to get repeat customers and public appreciation through word of mouth publicity for quality on – time delivery , I think he has made his day.