Deepika Padukone endorsing realty
firm Ace Group is the latest entrant in the long list of celebrities and
cricketers becoming brand ambassadors for developers, who are all out to
attract buyers this festive season.
Aishwarya Rai made news recently
with her Lodha group ad for its Mumbai luxury residential project. Shah Rukh Khan
too has been all over on Mahagun billboards. Many industry watchers see this
just as another marketing gimmick by developers. But, others think the exercise
could add value to realty brands.
Anshuman Magazine, chairman and
managing director, CBRE South Asia Pvt Ltd, says, "It is a brand building
exercise. Developers want to draw attention towards their projects and
celebrities give confidence to consumers."
However, he is quite skeptical of
such marketing tools generating sales for developers. "These will have
only marginal impact on sales, but people will be able to recall brands
immediately."
"The trend of real estate
developers going for celebrities to endorse their projects is picking up very
fast because it gives them (developers) a direct connect with the people all
across. It is a great driver for brand building. Besides, this marketing tool
gives small developers visibility which is difficult to generate
otherwise," an executive with a leading realty firm said.
Santosh Desai, CEO, Future
Brands, says since the real estate market
is down and there is general doubt over builders, endorsement by celebrities is
a way of assuring consumers about their products. "It is ultimately a
marketing gimmick. Beyond a point, consumers get jaded very quickly. What kind
of impact, it (celebrity endorsement) would have on the sector, it is difficult
to say. There is suspicion in the mind of consumers, we need more transparent
regulations as this sector is under regulated from consumers' point of
view."
The other Bollywood stars
associated with real estate companies include Kareena Kapoor, Twinkle Khanna,
Kangana Ranaut, Rajeev Khandelwal, Prachi Desai, Sushmita Sen, Neetu and Rishi
Kapoor. Cricketers such as M S Dhoni, Yuvraj Singh, Virender Sehwag amongst
others, have also endorsed developers.
Even international stars - Maria
Sharapova and Formula One star Michael Schumacher - have been roped in by
Homestead to promote their projects.
Magazine adds, with overall
budget on advertisement coming down in FMCG (fast moving consumer goods), the real
estate sector is offering good endorsement opportunity to celebrities.
Shweta Jain, executive director -
residential services Cushman and Wakefield, agreed that endorsement by
celebrities in realty segment creates additional level of identity for a
product. "It is easier for a common man to relate to a celebrity. It also
creates an additional outreach for developers to their audience. Ultimately, it
is a brand building exercise and a marketing mechanism."
Developers battling slowdown are
determined to make a success of the festive season, and star endorsement is an
easy route they have chosen.