The Success of Branding Activities in Real Estate Development
||The Success of Branding Activities in Real Estate Development
||Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
||As real estate markets for commercial spaces get saturated and demand regresses, the competition between products offered increases significantly due to increased vacancies, new project developments and falling rents. As a result, a variety of marketing tools are applied in order to promote the individual project development and support the leasing process. The goal is the generation of a brand that acts as a carrier of implicit and explicit information on the consumer's perception and as a consequence differentiates the individual building from its competition and sometimes even attains a higher rent. But the essential question, whether these branding strategies prove to be efficient is often neglected. This paper examines the success factors of a brand and the potential of real estate branding strategies. By executing a user oriented analysis, the perception especially of the end-user is observed and strategies that improve the success of real estate branding is explored. It is shown, how a comprehensive view of the branding strategy can improve the marketing activities and lead to desired success. References to actual real estate developments support the description of key findings.
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