Emami City- Real Estate Branding

8/13/2019 Emami City- Real Estate Branding

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Understanding Real Estate Brandingthrough the study of the brand

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Industry analysis

According to some reports India is among the top 20 countriesglobally that has the strongest momentum in its real estate index.

Coming in second only to China, the countrys real estate industry isgalloping ahead due to its fast growing urbanization, changing

consumer spending habits, changing demographics, greateraverage purchasing power and other favorable factors.

Not only that but even non resident Indians (NRIs) and otherinternational private and corporate entities are landing on thecountrys shores to invest in real estate and to set shop in thecountrys booming industries.

One can only see how much the prices have shot up along theyears, with some cities being prohibitively expensive for both. The

economic upset of the past couple years have also made an impactin the sense that now real estate developers in India are beginning toadjust the prices a little this year to keep their businesses viable and

keep the consumers more interested.

However, owing to the slow growth of Indian economy in the last two years

this field of business has shown a deceleration. The real estate sector has

come down to 6.5% in the financial year 2012-2013 from a thriving 7.8% in the

year 2009-2010. As per the economy survey, the housing sector in India

contributes nearly 5% to the overall GDP of the nation. Real estate ranks 4th,

in regard to the multiplier effect of the countrys financial system. Apart from

generating a huge level of employment, this sector also acts as a stimulant

for more than 250 subsidiary industries like building materials, cement,

consumer durables, brick, paint, steel, and so on. Some of the major

challenges that the real estate industry in the country is facing today are

deficiency of proper industry status, absence of title insurance, lack of land

titles that are clear, not having enough financial sources, scarcity of laborer,

increasing cost of material and manpower difficulties in getting approval for

different procedures involved.

However, with the execution of monitory policies by RBI, it has been

predicted that the latter half of 2013, will experience a growth in real estate

sector.So, a real estate company in India will survive successfully if it also

specializes in warehousing logistics in India with a perfect synchronization.


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Competitive Landscape(COMPARING TOP REAL ESTATE COS IN KOLKATA IN TERMS OF BRANDING)

EMAMI CITY

Product Features: All

typical features of a

premium condo

Tagline: Buidling with

trust for a better

tomorrow

Brand Proposition:

trust the company

to provide qualityinfrastructure

BENGAL AMBUJA

Product Features: Alltypical features of a

premium condo

Tagline: Building with

passion.. to make a

difference to the way

people live

Brand proposition:

Affordable quality

living

Mani group

Product Features:

All typical

features of a

premium condo

Tagline: Change

for good

Brand proposition:

Modern andinnovative

architecture at

affordable pricing

DLF

Product Features:

All typical features

of a premium

condo

Tagline: Building

India

Brand proposition:

Unique andinnovative housing

that focuses on

customer

satisfaction


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About The Brand

History & Overview about the considered brand:

Umbrella Brand- Emami ltd.- Established in 1974, Emami is a trusted name in FMCG Personal and healthcare businesshas a strong brand recall

o Brand propositionis providing herbal beauty solutionsFamily Brand- Emami Realty

Established in 2006, leverages upon the family brand for provingcredibility

Real estate business has strong brand recall in Kolkata owing toseveral real estate projects undertaken

Brand proposition is to trust the company to provide qualityinfrastructure as the positioning statement goes building with trust fora better tomorrow

Contradictory/Negativity brand association due to connection withthe recent AMRI fire

Product Brand- Emami City One of kind ventures of Emami Real Estate which leverages upon the

corporate brand name

Value proposition- Modern, elegant and a fully equipped residentialcomplex Brand promises a perfect life, comfort and relaxation due to world

class amenities

Brand identitydescribed through Kapferers Prisms


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Brand DNA

Brand Personality-

Five core dimensions (Brand Personality Dimensions of Jeniffer Aaker)-

Sincerity- Family oriented, wholesomeExcitement- Spirited, imaginative, up-to-date, young, contemporary, uniqueCompetence- Reliable, successfulSophistication- Middle/upper class, glamorous, charmingRuggedness- Outdoorsy, western

Products and services-

Largest residential complex in north KolkataLargest open sky landscape garden, water body, walking track, greenery

Amenities like clubhouses, pharmacy, gaming arenas, indoor stadium,swimming pool, caf and lounge

Consumer Views-

Offers a good standard of living, far from downtown, affordable pricing

Internal Beacon-

Communication through print ads draw the imagery of an aspirational life

that the modern youth of today strives to achieve owing to a greaterdisposable income and more global exposure.


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Field Visit

We conducted a research across residential complexes in Kolkata. Details ofthese visits are as follows-

Objective of the exercise: To understand the nuances of real estatebranding

Objective of the research: To understand brand perception of Emami CityObjectives of the questionnaire design:

1. To check for the awareness and perception of brand

Emami2. To check for the awareness and perception of EmamiCity3. To study the most preferred characteristics in condos (in

order to recommend as to what the marketing

campaigns should focus on)TG chosen: People already living in housing apartments (for themaspirational living would be upmarket condos); employees of Emami City(who currently own apartments at Emami City)Analysis: The responses that were recorded were run through SPSS for

analysis. Also, key insights from some in-depth interviews have been listed

Results:We checked for the awareness level of the corporate brand to see if it wasindeed right for Emami City to leverage upon the same for all its brandingexercises.

46.15% of the respondents know that Boroplus and Fair & Handsomeare products of Emami.

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They are satisfied with the products and perceive them as goodquality.

We checked for the awareness of Emami City and also association of

Emami with the AMRI accident, which can possibly give it a negativebrand association. Results are as follows-

The good, bad and neutral is solely dependent on whether therespondent is aware or still remembers the AMRI fires.

More than half the target group does not have a positive brand recallof Emami City which can be a challenge for the company

We also tried to understand that which attributes are the most sought afterones when our TG wants to buy an apartment. Results are as follows-

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Proximity from workplace / school is most important factor Security is the second most important factor according to the survey Proximity from airport is least important

Key Take Aways and Recommendations

All creative, print ads used at present by Emami City highlight aspectsrelated to size of the property, cleanliness, greenery and healthy living.

As per our survey, the attractiveness of such condos increase whenthey are close to regular places of visit like schools, colleges orworkplace. Thus, there should be focus on how Emami City is just Xkm away from downtown, or how all routes to and from Emami City

are not congested with traffic or the roads have fast moving traffic. Since security is crucial to our TG, there should be more focus on any

surveillance systems, CCTV cameras that might be installed in complex

for continuous monitoring. One of the biggest challenges would be to erase memories of the

AMRI fire in order to make the brand recall positive. Instead of directlytackling this issue by not taking responsibility or blame (done in thepast), the brand needs to carry out campaigns and exercises thatinstead focus on how they care for the safety of their customers. Theyneed to act more sensitive to this issue instead of being defensive.

Thus, all of their family brand communication should focus on beingcustomer-centric and extra care for the safety of the customer.

Also, the brand awareness level at present is very low. The onlyinvestments made in the apartments as of now is by employees ofEmami as they intend to sell it at a higher price later. While it is truethat sooner or later, property of any kind gets sold due to theburgeoning population, in order to have a more promising future in

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realty and for quicker returns, marketing campaign needs to beexecuted more proactively. Customer engagement level is very lowat present. The company can think of campaigns integrated with

digital media for a wider reach. A lot of consumer insights gathered during the interviews and surveys

pointed at the perception that Emami City might not be a property ofsuperior quality but will be affordable as Emami, the FMCG productstands for affordable beauty solutions aimed at the middle and lowerincome group. However, the offering of Emami City is very premium

and at par with any premium builder like DLF. This is one of the biggestchallenges that the marketing communication needs to counter. Canbe countered if Emami City associates itself with deemed classyactors, popular particularly in West Bengal (this is also one of the

typical ways used by Emami- associating themselves with a brandambassador)

(Pl Note: The Excel Sheet attached has more details of the surveyconducted along with additional insights and how the analysis wasconducted)

Documents

Emami City- Real Estate Branding