Once again, we have come full circle to the annual event TERRAHINT Brand Series, titled TERRAHINT Brand Series 2022: Thinking and Accelerating Brands for the Future. The event featured in-depth research results on consumer behavior based on the concept of GOOD HEALTH AND WELL-BEING and a panel discussion Creative Talk Room: Design for the Future, with seven esteemed speakers from various fields.

One of the key highlights of the event was the presentation of the Real Estate: The Most Powerful Brand 2022 award to a real estate company, presented by Mr. Meesak Chunharakchoti, President of the Thai Real Estate Association.

The award results were derived from brand perception surveys conducted on two sample groups: 1. Focus Group (Qualitative Research: Ages 22-53, data collected from September 5-8, 2022) and
2. Quantitative Research: Online Survey with 2,100 samples (September 20 - November 10, 2022). The confidence interval for this research was 95%, with a standard error of 0.05, calculated only for those interested in real estate news or planning to buy a home, filtered through a Logical Test to yield 1,000 quality responses.

For the announcement of the Most Powerful Real Estate Brand for 2022, the award was won by SC Asset Corporation Public Company Limited, marking the first year that SC ASSET has successfully claimed this award. The brand has shown continuous growth in recognition, image, and customer satisfaction, leading to a loyal customer base and securing the top position. Mr. Nattakit Sirirat, Head of Marketing at SC Asset Corporation Public Company Limited, accepted the award on behalf of the company.

Meanwhile, Sansiri Public Company Limited received the Eternal Award for being the top-of-mind brand for customers for five consecutive years, likened to a legendary brand in the real estate sector. Ms. Chaleerat Torjarat, Director of Corporate Marketing at Sansiri Public Company Limited, accepted the award.

Additionally, Land and Houses Public Company Limited won the Credence Award for being the brand that sets quality standards and fulfills customer dreams, while a special commendation was awarded to Sena Development Public Company Limited for Excellence in Catering to the Economy Group (a brand addressing the middle class) and Magnolia Quality Development Corporation Limited or MQDC for Excellence in Green Development (a brand focused on environmental considerations).

Sumitra Wongphakdee, Managing Director of Terra Media and Consulting Company Limited, stated that upon reviewing the survey results, it is evident that all brands in the real estate sector have shown improved movement (Brand Powerful Movement), with no brand experiencing a decline in scores compared to last year, 2021. However, when measuring the change in rankings from the previous year, many brands have dropped in rank compared to last year, except for SC ASSET and AP, which have improved their rankings, with brands like MQDC, Noble, and AssetWise entering the rankings.

Sumitra Wongphakdee, Managing Director of Terra Media and Consulting Company Limited

When measuring Customer Satisfaction for consumers who have had previous experiences with these brands, it is observed that most consumers who have experienced SC ASSET are satisfied, indicating that their after-sales service is quite good. This year, SC ASSET also received high scores for after-sales service, while brands Noble and Assetwise also showed consumer satisfaction in after-sales service.

“The key question reflecting the highest satisfaction is whether consumers would recommend the brand or not, known as the loyalty program. It turns out that consumers are most willing to recommend SC ASSET, followed by Sansiri and Land and Houses.

Brand Perception: Brand Awareness by Type of Residence

Another interesting survey was conducted on consumer awareness regarding which brands come to mind when mentioning different types of residences. The findings revealed:

• For single-family homes, awareness is divided into three parts: leaders in single-family homes are thought of as Sansiri, Land and Houses, and SC ASSET; leaders in innovation are thought of as SC ASSET; and brands perceived as relatable or suitable for GEN X are Sansiri, while GEN Y thinks of Land and Houses.

• For townhomes, awareness is divided into three parts: leaders in townhomes are thought of as Pruksa Real Estate, AP, Sansiri, Q House, SC ASSET, Noble; leaders in innovation are thought of as Sansiri, and brands perceived as relatable or suitable are Sansiri and AP.

• For condominiums, awareness is divided into three parts: leaders in condominiums are thought of as Sansiri, ANANDA, LPN, SUPALAI; leaders in innovation are thought of as Sansiri and Pruksa Real Estate, while brands perceived as relatable or suitable are Sansiri, SUPALAI, Noble.

• For luxury brands, awareness is divided into four parts: leaders in luxury homes are thought of as Sansiri, Land and Houses; leaders in luxury townhomes are thought of as Pruksa Real Estate, AP, Q House, Sansiri; leaders in luxury innovation are thought of as Sansiri; and brands perceived as relatable or suitable in the luxury segment are Sansiri.

Brand Archetypes: Comparing Brand Identity Perception Among Consumers

This year, the research team enhanced the survey by adding questions about how consumers perceive the identity of each residential brand. What character do they embody? This serves as a checklist to see how real estate developers communicate their identity to consumers and whether it aligns with what the brands intend to convey.

Last year, Donchai Boonyaratwetch, President/Head of Strategic Planning at Inspirity Partnership Ltd., delivered a talk titled ‘Transforming the Game: Building Superior Brand Leadership & Brand Portfolio Management’ and shared important insights that today’s world is changing. Consumers have contradictory desires; they want one thing in the online world and something else in the real world. This means brands must have two opposing characters to meet the dual needs of consumers within the same individual.

The Brand Archetypes survey this year highlighted brands with the most distinct character traits, categorized based on consumer perceptions across 12 archetypes.

Interestingly, the brand MQDC has a dual identity recognized by consumers, reflecting both Creator & Magician within a single brand, indicating a strong brand presence. The details across the 12 archetypes can be grouped into four main categories:

• SEEK PARADISE: Creating Spaces of Happiness: Brands in this group aim to create happiness and balance through a friendly and liberating perspective. This includes three types:
- INNOCENT: Brands that evoke feelings of purity, tranquility, and safety, such as NC GROUP, SUPALAI, PROPERTY PERFECT.
- SAGE: Brands characterized by wisdom, expertise, and providing information and advice, such as Q HOUSE.
- EXPLORER: Brands reflecting freedom, adventure, and the search for new experiences, such as ANANDA, PATREEDA.

• LEAVE A MARK: Be Memorable: Brands in this group focus on creating a “legend,” willing to face challenges and difficulties rather than living an ordinary, boring life. This includes three types:
- OUTLAW: Brands that are different, unconventional, and do not adhere to traditional norms, such as Noble, ANANDA, EASTERN STAR.
- MAGICIAN: Brands that create possibilities, turning dreams or imaginations into reality, such as MQDC.
- HERO: Brands that help people overcome obstacles or challenges to reach their goals, such as REAL ASSET.

• PROVIDE STRUCTURE: Setting Standards: Brands in this group are creators of ideas and pathways, committed to solving problems and providing solutions. This includes three types:
- CAREGIVER: Brands that convey care, sharing, and concern, such as GRAND UNITY, SINGHA ESTATE, Sathaporn Estate.
- RULER: Brands that embody leadership, instilling a sense of power and pride, such as Sansiri, SC ASSET, Land and Houses.
- CREATOR: Brands that are innovative and creative, striving to improve, such as MQDC.

• CONNECT TO OTHERS: Building Relationships: Brands in this group aim to create memorable and accessible experiences. This includes three types:
- EVERYMAN: Brands that represent ordinary people, grounded in reality and simplicity, such as Sena Development, LPN, Frasers Property, Pruksa Real Estate, Kandha Property.
- JESTER: Brands that evoke fun, joy, and humor, such as AP, ASSETWISE, ORIGIN, Piem Suk.
- LOVER: Brands that convey love, charm, and satisfaction, such as Major Development, Raimon Land.

Brand Image: Real Estate vs. Cars 2022

Finally, the survey that garners interest every year compares real estate developers with various car brands through the eyes of home buyers and consumer sample groups, providing a more concrete view of brand perception. This year’s results largely mirror those from 2021, with Sansiri and SC ASSET compared to BMW, while Land and Houses still resemble Mercedes-Benz.

However, SC ASSET has shown development, as in previous years, its image was unclear, overlapping with BMW, Mercedes-Benz, Rolls-Royce. This year, consumers clearly identify it as BMW, a premium brand that is accessible. The research team also introduced new car brands for comparison, such as GWM, MG, and Tesla, leading consumers to view MQDC as both Tesla and Mercedes-Benz simultaneously, while PATREEDA is perceived as GWM, reflecting its innovative nature. Meanwhile, Singha Estate is seen as both Mercedes-Benz and Porsche.

“Many brands are perceived as Toyota, Honda, Mazda, which, although all are Japanese standards, consumers view them differently in terms of image. Toyota feels suitable for everyone, Honda appears more youthful, and Mazda emphasizes modern, sleek design. In contrast, Suzuki is seen as durable and resilient, often associated with practical pickup trucks rather than luxury,”

This summary of the survey provides insights for real estate developers to listen to consumer perceptions and understand how their brands are recognized, allowing them to utilize this information to enhance their brand further.