Secureness Capital Pacific Trust: A Case for Marketing
March 31, 2009
Dr . Berk Ataman
Erasmus School Rotterdam
CASE: Security captical Pacific trust
1 . The lack of branding in SCPT?
There are several factors that clarify the traditional deficiency of branding inside the real estate market. One of the most essential reasons is usually that the real estate industry has been seen as a commodity organization for more than 100 years; the main focus was on the real estate ' therefore, the product was considered as a tangible element only ' not regarding the customer. At the. g. SCPT did not also know who have its buyers were (Fournier & Thorp, 2001). There was almost no information on their key customer sectors, the key individuals of customer choice, inclination and satisfaction. Also, logos is seen as an all natural process, what assumes extra attention to branding is not essential. Besides, mainly because competitors none focus on personalisation, and businesses tend to imitate each other (Levitt & Drive, 1988), personalisation seems fewer important. Hence, real estate businesses can be seen because financial organizations, in which it is hard to come up with a peek and a feeling. These are important to position a brandname and to create a certain company image inside the consumer's mind. Moreover, the buzz and sense are necessary to create a clear brand personality and goal in the employee's mind. Simply by mainly concentrating on the real aspect itself, the unique selling points (USP's) can be conveyed clearly, while the emotional advertising points (ESP's) are often overlooked. For the creation of the branding strategy, these ESP's are most significant (De Pelsmacker et ing., 2004). With the help of emotional aspects, the consumer will receive a certain feeling or emotion towards the company and its goods, while by using USP's simply, this target of environment a certain brand image will probably be almost impossible to achieve. Shortly, major on the practical benefits as well as the tangible aspects of a certain home against the deficiency of the non-functional benefits plus the intangible areas of the product bundle as a whole, including e. g. the services available, the feeling of experiencing a safe and comfortable place to live, where you can invite your family, close friends and family, can account to the classic lack of personalisation. Furthermore, real estate industry is targeted on the instant, in other words, pay out backs are on the temporary. A long term marketing strategy does not fit inside the investment company's corporate approach. Therefore , logos initiatives looked as gratifying the advertising task. Even though, the supervision team appreciates the potentials of branding, they also to get see great risks to get corrupted and so they are not willing to put a huge amount of money, which usually would be required, in personalisation. Looking at the marketing activities at SCPT until now, the focus was mainly on methods, at the regional and local levels, while the national level demands more attention to make company branding effective. Looking at the general situation over a national level, branding in the real estate market was not present at all. The only activity staying seen had not been more than placing the company's term on it is properties, that they called вЂbranding'. Possible great this limited amount of effort put into branding are linked to the accessibility to monetary resources within the sector, compared to the believed results when ever investing certain amounts of money in branding in general. The lack of trust concerning the amount of success, which may possibly be produced by creating a branding strategy resulted in using the lack of personalisation in the real estate industry. Another reason includes the evolvement of the investment market. Since the beginning of REITs, many purchase companies found opportunities in executing customer services. Although, in practice, buyer services weren't carried out while servicing the client, but were treated as a necessary bad. E. g. the...
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