Branding in Indian real estate is a mixed phenomenon of both aspiration and reality. In old times construction was the prudent form of branding; that’s how cultures & rituals evolved under the shade of artistic buildings. In the new age branding is more digital & buildings less emotive. However, the industry is waking up to branding although slower than global standards. Since real estate is an expensive affair where trust is the operative function; its essentially seen as commodity in cities like Mumbai. Therefore,good,or bad branding, which is the function of value add to the property, people, place, and expressions in a way that creates positive or negative emotive response. Realty branding is lot more scientific now than before, marketing, behaviors and emotions are being studied closely for effective use in brand developments.
In my view best branding & brand developments are outcome of development principles that lay strong foundation for brand surfacing and unconvoluted effects to its stakeholders. In real estate branding is an outcome of display that communicates project value to its customers. In fact more and more innovation contributing to qualitative development of communications, conversations and commerce in real estate will help develop positing branding opportunities in the country. Some good branding is taking place in places like Pune, Gurgaon, Bangalore and Goa, here companies are bringing elements of design, architecture, good practices & experience together in creating positive branding. Plinthstone has recently introduced the concept of building wraps at one of its projects in Andheri west. These are big flexes wrapping the building at multiple storeys for big impact in the neighborhood.
A good new way for branding in realty is introduced through design thinkingand digital’s ability to do that flawlessly. Today digital platforms are generating many new spaces where branding and branding by association is likely to gain traction. In the digital world classification of communications have made branding possible in a way that connects with information consumers therefore, each branding can create more differentiation basis their unique structuring.
Building trust and legacy is another dimension many realty companies / brands are developing by investing their resources in a certain direction. Plinthstone has developed a remarkable new way to develop legacies and connect it with the benefits to customers. Branded luxuries and branded apartments are unique ways to create value to the properties through licensing; this is gaining traction globally and is taking effects in India too.First steps towards creating branded effects in realty is building standards; like in other sectors both governments and companies to provide momentum in building global and local standard homes, offices and more. Standards create expectations that meets reality and in doing so many qualitative functions will become building blocks for brands to building global effects. Cities like NY and London are strong examples of what development standards can provide branding platforms to companies, realty sector and the city overall.
Associations are also more effective form of branding that gives meaning to the property. Sports, events, celebrities are some of the popular branding options for the companies that seek immediate connects. Alternatively, building you own IP is another crucial for of branding that connects every business elements to one common purpose.
Trust and luxury are two most sought connects brands seek, and lack of innovation in the space will create less value for the brand. Technology and processes will strongly and positively contribute to developing brands especially with a purpose. One of the most successful way of branding is to solve a conflict, climate, customer conflict, etc. through high design and technology. The reach and scale of these are global and can take quick effects in positive brand developments.
Mainly there’s nothing right or wrong in branding; just good or bad branding depending on the target audience it speaks to. Branding is both social and cultural in nature, this gives shape and direction to branding in a way that’s self-sustainable and participative. Real estate is drawing inspirations from across segments of consumerism; especially India has a wade playing field for many brand successes in realty. While branding in Indian real estate landscape is at its infancy; big developments are expected from the sector.Plinthstone is making progressive progress in that direction and helping is clients build strong brands for business success.
Brands and business cannot be separated as has been the case historically. Brands must contribute to business as must the business contribute to the brand. It is in this coexistence that sectors and industry will take positive shape and develop bigger and better opportunities for global branding from Indian realty landscape.