BAD LUCK SPARES no one and every business has had its share of it. The most important thing is whether the company has the drive - or a really good marketing campaign - to turn things around.
Regal Estate Agents bought a piece of land in Stanley at the pinnacle of Hong Kong's property boom in 1997, which was followed immediately by the biggest economic plunge in recent history.
Times were tough but business must go on. The Regalia Bay, a luxury residential development, was born at this uncertain time.
After paying bank interest and construction costs there was a limited budget for advertising. Because many advertisements for property developments tended to be inflated and were losing credibility, the company felt the best way to promote Regalia Bay was to be different.
This decision brought the company profit and a certificate of merit from the HKMA/TVB Award for Marketing Excellence 2004.
The company set out four objectives for its campaign: establish Regalia Bay as a luxury brand, position it as a hub for the rich and famous, generate sales and set firm and high prices to sustain buyer confidence.
To create a star brand, Regalia Bay established an 'unprecedented partnership' with TVB, sponsoring a television programme to launch the development.
