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We're selling lifestyle here ...
Casual observers may smile at the names of condominiums that strain to convey a sense of luxury or privilege that bears no relation to their design or setting. But in the big-money world of condo development, where a lifestyle is being sold along with the floor plan, names matter.
The christening of any product — whether it be cologne, cars or condos — is crucial to the construction of a consumer fantasy. It all comes down to branding. A condo fantasy might be New York sophistication, resulting in names like the Beresford or the Brownstone. It might be European worldliness, hence the Brava, Espana and Symphony Place, where buildings are named Vita and Dolce. Or it might be a simple declaration of style: the Élan, the Moda, the Retro.
Catchy names do work; they attract attention and draw in potential buyers, which is why marketing condos usually involves a team of experts brainstorming for hours to find the perfect moniker. "The name is the hardest thing about a project," says Pamela Groberman, a public relations and media consultant who named the Opus Hotel in Yaletown, B.C.
She was also involved in a successful public relations campaign in which a contest was held for condo buyers to name their development, the Élan.
"It's amazing, the time and energy and thought process that goes into it," says Ms. Groberman, who prefers stylish, contemporary names. "
Everybody notices a condo name — especially when it's a dud. "Everybody talks about it," says Ms. Groberman. "It goes through the industry, and everybody says, 'What were they thinking?' "
August 31, 2007 in Buying Toronto Real Estate | Permalink
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Good article on real estate branding and marketing. Here's a great article on foreclosure rescue scams that is an absolute must read for everyone!:
Brenda S.
Posted by: Brenda S. | Sep 1, 2007 10:27:55 PM
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