Track2Realty Survey: In this mismatch of segmentation, actual buyers are neglected in holistic branding of the company. However, it is the consumers who play a huge role in determining the credibility of a brand. It is not just the word of mouth publicity, or the lack of it, that is the reason to keep the promise to the customers; rather it also saves money to do crisis management against the negative campaign.
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Track2Realty Survey: Is a buyer ready to pay premium for the brand reputation of the developer? Majority of the brand conscious buyers’ say ‘NO’ unless the big brand has offering to match the high price and differentiate the product. In the high-end category, 40 per cent of the buyers are ready to pay a premium.
Track2Realty Survey: The question is what shapes public perception as far as brand premium of a real estate company is concerned? User experience and word of mouth publicity is what matters to them and advertising is nothing more than a medium to know about the new launches.
Track2Realty Survey: 70 per cent of the Indians who have either bought a house or are planning to buy believe brand reputation only amounts to the developers’ past projects. More than that, 78 per cent maintain the track record of timely delivery of the project is the best way to judge the developers’ brand.