In the hyper-driven world of advertising, literally nothing has escaped the phenomenon of 'branding'.This extends from products to services, and on to manufacturers and service providers.
In the hyper-driven world of advertising, literally nothing has escaped the phenomenon of 'branding.' This extends from products to services, and on to manufacturers and service providers. The real estate development line is no exception. In fact, the whole question of how important builders' brand names are on the property market should be examined in greater detail.
It seems evident that a concern operating without a branded name and image stands at a distinct commercial disadvantage on the property market. Nevertheless, quite a few builders do decide against establishing a brand name to highlight themselves and their projects. This can have a number of reasons:
Generally speaking, brand-building is a valid and beneficial exercise that profits both the builder and his clients. However, it should be noted that fame and prestige carry with them a large burden of responsibility towards the interests of numerous stakeholders. It is easy for a builder whose name commands respect to grow complacent and eventually allow his company's standards to sink. The annals of real estate history abound with instances in which builders rely too heavily on their brand image, finally falling into disrepute because their projects have become substandard.
A respected brand image is a developer's most valuable asset. The business of building and selling real estate can be a constant, never-ending struggle against incredible market odds. In the final analysis, it is a builder's name that inspires confidence and sells his projects. He also establishes his reputation by a long-standing presence on the property market. This matters a lot, because there is a high dropout rate among builders who cannot deliver consistently or are not equal to the fierce competitiveness of the market.
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