EFFECTIVENESS OF BRANDING FOR RESIDENTIAL DEVELOPERS

Abstract

The concept of branding has been utilized widely in the business industry today. In real estate, the branding of developers and their products will influence the perceived worth of their developments and differentiate their properties from others. This study examines the usage of branding as marketing tool for developers and the extent of its marketing effectiveness based on certain criteria and in the light of the local residential market. It focuses on the buyers' perception of the qualities a 'branded' developer should possess. Multidimensional Scaling (MDS) has been used to generate the market positions of nine selected developers. Using a two-dimensional perceptual map, developers can understand their standing in the market and thereby re-strategise to strengthen their brand image. In this study, the effectiveness of branding was evaluated using a qualitative criterion, as the quantitative aspects are not readily available to the public. The findings of the survey revealed that most homebuyers will be affected by the brand position of a developer when purchasing a property. This is validated by the perceived judgments of the public based on the achievements of the developers. The results of the study provided valuable contributions to the understanding and use of branding in promoting the image and effectiveness of the developers.