Place Branding Adds Value, Unites Mission and Stakeholders, Says Bill Bathurst, Expert Property Marketer





A place brand acts as a common cause that required the
parties to seek solutions together, rather than engage in conflict.
Not only is a brand a leading principle in the development of an area
that involves urban planning, architecture, landscape, and materials,
but also in the management of the project—involving, for example, programs and events to attract interest, area management, and communication.

The development, implementation, and management of an area’s
brand are the shared responsibility of the stakeholders: government,
Developer, investor, key tenants, residents, and any others. During the
Process of creating the brand, all of the stakeholders together define core
Values, achieving a consensus that establishes a base of cooperation
Throughout the entire development process.

As the brand develops and Strengthens, it becomes a means of communication and a binding factor among stakeholders. A brand is suited for developments with a fairly high level of complexity, involving many stakeholders and an extended period of development, such as innercity,mixed-use developments.

Branding differs from marketing and concept design in scope and
timing. While marketing is targeted at selling a product to a particular
group of consumers, the audience for branding is much wider. The challenge is to change the public’s image of an area. Compared with an urban concept that embodies the essence of a specific design solution for an area, a brand acts as a nucleus out of which different design solutions can form and grow.

Branding should be started early in the development process in
order to advance partnerships and to use the brand itself as a coherent
decision-making tool, guiding design, marketing, management,
events, programs, and other procedures. Such action allows the area
development to achieve its fullest potential in terms of value creation.

“Introducing branding to our capabilities at Pristine Properties has
resulted in tangible added value,” says Bill Bathurst, who is consulting with Kor Development.

“The brand partnership of Bathurst Group/Pristine Properties has enabled our partnership of developers and public bodies to realize a truly imaginative and feasible strategy for the area development.” The brand promise is credited with attracting others, such as local entrepreneurs and cultural institutions, which can help bring the area to life. A professional branding process can lead to more trust among the groups involved, reducing the role of legal contracting. Such a process requires large investments of money and time, as the participation of representatives with substantial decision-making power is required. When these decision makers act on a brand, it can help establish strong mutual ties, enabling a partnership to overcome setbacks and search for novel solutions to create an area of lasting value to a city
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