Vanke chooses Grey for image ads

<p>SHANGHAI: Vanke - China's biggest listed property developer - has </p><p>appointed Grey Worldwide to handle its corporate image campaign, worth </p><p>up to RMB80 million (about USdollars 9.6 million) a year. </p><p><BR><BR> </p><p>Grey won the account following a pitch that involved 12 agencies, </p><p>including nine multinationals. </p><p><BR><BR> </p><p>This is the first time that Vanke has retained the services of an MNC </p><p>agency and chairman Wang Shi said the aim was to adopt a "more </p><p>aggressive brand promotion strategy" to increase market share. </p><p><BR><BR> </p><p>"Grey is now focusing on formulating a comprehensive brand planning, </p><p>marketing and promotion strategy for campaigns which will roll out in </p><p>the near term," Wang said. </p><p><BR><BR> </p><p>Viveca Chan, Grey China chief executive officer and chairman, said that </p><p>although Vanke is a market leader in its category, it has decided to </p><p>adopt a more aggressive stance because Beijing's expected entry into the </p><p>World Trade Organisation will almost certainly result in a sharp </p><p>increase in competition. </p><p><BR><BR> </p><p>"Vanke is a company well-known for developing and managing high-grade </p><p>property throughout China but the brief is to further strengthen the </p><p>brand name so that it can retain its top-place ranking in the long </p><p>term," Chan said. </p><p><BR><BR> </p><p>Wang added that he expected the appointment would also counter </p><p>competitive pressures from other Chinese property developers. </p><p><BR><BR> </p>