Portfolio Cyprus Ltd.

The challenge

The Cyprus real estate sector is highly competitive and is characterised by relatively low barriers to entry. To succeed, companies need to have clearly differentiated property portfolios, combined with a high level of market knowledge.

Analysis

The property development sector in the wider Pafos area consists of approximately 60 companies of various sizes and USP orientations. CSP Portfolio Cyprus Ltd faced competition from many of these companies for market share amongst foreign, mainly English speaking prospective buyer of property.

The branding structure process

According to Ultima's market analysis and consumer diagnosis, CSP Portfolio Cyprus Ltd. needed to differentiate its offering to stand out from its rivals. To do this, it was necessary to develop a coherent and consistent set of unique selling propositions (USPs).

Ultima's research showed that the company's strongest USP was its one-to-one approach to customers' needs. This formed the basis of the branding Ultima developed for the client.

The competition

CSP Portfolio Cyprus Ltd faced multiple direct and indirect competitors operating in various formats. These included UK and other overseas real estate agents, Cyprus real estate agents, unlicensed Cyprus agents and non-professional agents such as taxi drivers and shop owners.

Target groups

The major potential target group of CSP Portfolio Cyprus Ltd mainly consisted of people over 50, looking to retire to another country, to buy a second house for holidays or investment purposes.

The ideal market share

Ideally, the company would reach all UK and Russian home owners in the target age range, all UK and Russian company directors, all European golf pros and golf club members, sailing and yacht clubs, travel clubs, holiday/airline companies, and property investment clubs and companies Ultima advised the company to address these ambitious targets by starting locally with high-impact advertising, then expanding further through overseas seminars with target audiences.

Solution

Ultima discovered that the vast majority of CSP Portfolio Cyprus Ltd's competitors adopted an impersonal approach, which did not suit the needs of their consumers. Accordingly, Ultima proposed that the primary USP of the company should be focused on the notion of "personal touch". The resulting branding reinforced the promise of individual attention inherent in this USP, along with the company's guarantee of "no hard sell".

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