Track2Realty Exclusive: Chairman, Public Relations Society of America, Gerard Corbett announced the new definition of Public Relations. After more than 900 suggestions, much deliberation, crowd-sourcing and lots of voting, the winning definition of the PR is: “Public relation is a strategic communication process that builds mutually beneficial relationships between organizations and their publics.”
Track2Realty Exclusive: A section of developers are not in favour of experimenting with the advertisements as this may have negative effect. According to Diipesh Bhagtani Executive Director, Jaycee Homes, ads have some components which are common and similar in all their creative. This helps us build, recognize and recollect the brand name. This also helps build and reinforce the brand identity.
Track2Realty Exclusive: A leading Indian real estate company recently invited pitch from the PR agencies for its prestigious account. The short listed PR agencies were given a level playing field and there had been nothing to suggest any element of favouritism when one of the PR Agencies clinched the deal on the merits of its exposure in the given industry.
Track2Realty Exclusive: Mumbaipedia concept has nothing to do with real estate projects or the company of the developer but aims at creating a mindspace amongst the target audience.
Track2Realty Exclusive: Public Relations or the PR stands for different things to different people in this part of the world. In the business of Indian real estate the philosophy is how much coverage do I get by paying how less. And only developers are not to be blamed for this since agencies understand the psychology of developers and tend to over-promise, thanks to the cut-throat competition in the business.
Track2Realty Exclusive: Call it stale or repetitive but real estate advertising has always been too sales-centric with no thrust on building the iconic brand. Though the sector has matured on several other parameters of corporate quotient, and charging for the brand premium seems to be on top priority; still the advertising has been by and large project driven.
Track2Realty Exclusive: The question is do brand ambassadors really buy the flats of the realty firms they endorse? Most unlikely! Of course, those who earn huge sums won’t live in flats even if they are very luxurious.
Track2Realty Exclusive: Amrapali Group has signed on Mahendra Singh Dhoni as their brand ambassador and the company is banking high on cricket ever since the Indian team won the World Cup under Dhoni by gifting the flats after the title.
Track2Realty-Agencies: India’s diversified group Godrej says its fast growing realty estate business could become the biggest venture for the conglomerate in the next 10 years.
Track2Realty studies the role of brand ambassadors in the Indian real estate as the advertisements are often blamed to be not just aspirational but misleading as well. How far celebrity endorsement helps the company and to what extent their celebrity status gets affected by a sector where trust deficit is pretty high