Marketing Construction GW
Marketing Construction GW
Marketing Construction GW
Table Of Contents
Marketing Construction
• Definition of
marketing
• Marketing
construction services
• Preparing
marketing plans
• Marketing
strategies for
construction services
and property
• Trends
DEFINITON OF MARKETING
• Internet online
marketing
Marketing is far more than advertising and selling. This is the strategic plan which one
arises with for their organization that looks at one’s construction company’s stabilities
MARKETIN
and flaws; market that one will target their sales centre on, sectors where one has a
competitive advantage, figures of selected market and value design that one plans to
G Marketing in construction includes several activities like looking for new types of
use.
CONSTRUC
construction, clients and markets, project cost estimation, satisfying and keeping the
customers loyal, negotiation, market research and analysis etc. Construction market
TION
itself comprise the sales revenue earned by entities which construct engineering projects
or buildings.
MARKETING CONSTRUCTION SERVICES.
The construction industry is characterized by extreme competitiveness, high risk, and usually
low profit margin in comparison to any other industry.
Major reasons for intensive competitiveness
I). Relative ease of entry into the construction industry compared to other industries, even for
people or companies with little capital investment.
ii). To find a new project, construction firms have to participate in a competitive bidding process,
as it is not generally possible for them to induce demand for their services.
Marketing creates a sustainable competitive advantage for construction companies and help them
differentiate themselves from their competitors.
c. Set a meeting.
In order to make a sale and target a signed contract, you will have to get in front of your
customer. To set a meeting, start with a consistent mailing program to familiarize customers
with your company and what it has to offer.
Promise a follow up call and deliver on your promise. If your offer is enticing enough,
customers will take your call and want to meet with you.
Call them and suggest a short ten to twenty minutes meeting to discuss what they need and
how you can solve their problems.
f. Follow up aggressively.
After the proposal, you must follow up at least every other day to show you are interested in
working with them.
If the clients/ customers don’t return your calls, leave a message with additional ideas about how
your company can perform better or save him or her money.
Don't give up. Send postcards, written notes, photos or anything during this phase to keep your
company at the top of the customer's mind.
• It should include both strategic and tactical aspects. The strategic and tactical elements
get differentiated by time frame. It is expected that for any marketing plan to be
successful, it should take into account both the long and short term. The first-year
plan process is considered tactical plan while the broad three year plus marketing plan
as the strategic plan.
• While marketing plans should be based on the market (s) in which the business unit is
operating, they should also be a focus for the whole business unit /firm and should not
be restricted to the marketing department.
• Marketing plans should take account of budgets and other financial measures but
should not be based on them.
• Marketing plans and budgets arising from them should be founded on: -
-careful and realistic assessments of what the market is doing in terms of its
external environment.eg; economic conditions, market sector growth versus
saturation/stagnation etc.
-what the firm can do in response to those external factors.eg; service
extensions, improvements.
-numbers and quantifiable targets (measurable and not just wish statements)
-targets that are tangible and realizable so that they do not demotivate.
• Therefore, it’s notable that marketing here is more than just advertising and selling
your services.
• It is the management process through which goods and services move from concept to
the customer. It will include the coordination, development and implementation of
promotional and content strategy.
• In order to come up with an effective marketing plan that will help grow businesses in
the construction industry, the following steps should be followed; -
And if your marketing plan works, do you have enough people to handle additional work?
Do you have a backup plan for hiring just in case?
5. Developing a strategy
-You need to determine the avenues that will take to achieve your objective.
The takeaway in this session is to develop a mix of strategies to reach the target market.
It is very important to understand your target demographic when creating this mix.
Ensure you analyze, analyze and re-analyze your target market.
Your current and past clientele are a wonderful resource for developing your average client and
creating a mix that will bring you to them as often and as efficiently as possible.
6. Monitor the results
Now it’s time to ensure its working right.
Start comparing your business performance from before your plan was rolled out to its current
status.
Follow up on the analytics results, i.e., what has increased in the business.
It is also important to monitor your marketing plan to see that it remains in line with changing
trends.
• A marketing plan hence helps keep the objectives of your construction business in focus
and attract the required attention. The rest depends on your business strategy, quality and
the way you build on the potential relationships.
• In a competitive field such as the construction industry, an effective marketing plan will
give your business a competitive edge that will see it stand out turning it into a positive
endeavor.
Trends in Marketing
Refers to the overall direction of trading in the broader market on either a short- mid- or
longterm basis. A trend that moves generally higher is called an uptrend, and one that moves
generally lower is called a downtrend. Trends can be short- or long-term.
Trends in marketing are centered on connecting technologies (computer, information,
communication and transportation) whereby we have the following categories:
1) Connections with customers. Involves connecting more selectively, connecting for life and
connecting directly.
2) Connections with marketing partners. Involves connecting with other company
departments, connecting with suppliers and distributors and connecting through strategic
alliances.
3) Connections with the world around us through broadened and global connections and
connections with values and responsibilities.
Under these connections, the following are some of the emerging trends in marketing;
Green Marketing
Green marketing is the marketing of products that are presumed to be environmentally safe.
It incorporates a broad range of activities, including product modification, changes to the
production process, and sustainable packaging. Green marketing strategies are;
• Reduce
Reuse
• Recycle
• Repair
Advantages of Green Marketing
• Corporate Social responsibility
• Competitive advantage
• Cost
reduction
Disadvantage; It is
costly.
Event Marketing
An event can be described as a public assembly for the purpose of celebration,
education, marketing or reunion. Event marketing is the experiential marketing of a
brand, service or product through promotional events. It typically involves direct
interaction with a brand’s representatives and should not be confused with event
management which is a process of organizing, promoting and conducting events.
Trade shows are an example of event marketing.
Event marketing strategies
This refers to activity’s companies use to engage with the customers. They include;
funding charity events, health awareness events^dinners, parties etc.
It is a useful complement to the traditional brand building and market promotion
activities of many companies.
Advantages
• Target marketing capability
• Face to face access to customers
• Public image
enhancement Disadvantages
• Cost of big events
• Advertising clutter at
events
• Effectiveness is hard to
measure Network marketing
Also known as multi-level marketing. It is a business distribution model that allows a
parent multi-level marketing company to market their products directly to consumers
How it works;
1. Lead generation: locating new customers and clients
2. Recruiting: adding customers and business partners to your network
3. Building and management: methods for training, motivating and managing your
recruits. Advantages
• No financial risk
• Access to free training.
Disadvantages; Takes time to expand/grow.
Social marketing
Social marketing is an approach used to develop activities aimed at changing or maintaining
people’s behavior for the benefit of the individuals and the society as a whole. It is a proven
tool for influencing behavior in a sustainable and cost-effective way. It helps you decide:
i. Which people to work with
ii. What behavior to influence
iii. How to go about it
iv. How to measure it
Social Media Marketing
Social media marketing is a form of internet marketing that utilizes social media to achieve
branding and marketing communication goals. Social media sites such as Face book, YouTube,
Flickr, Twitter, WhatsApp, etc. are used to communicate information about a company and its
brand and products.
Advantages
• Free of cost
• Return on investment and better
targeting Disadvantages
• Risk of negative comments
• Fraud
Customer relationship management
(CRM) marketing
This term refers to the strategies and tactics
and technologies marketers use in order to
manage the relationship with their current
and potential customers throughout the
customer lifecycle.
This is an approach that uses data analysis about customers’ history with a company to improve
business relationships, specifically focusing on customer retention and ultimately driving sales
growth.
Advantages
• Operation cost cut and time efficient,
• More customer
satisfaction Disadvantages
• Significant investment of
time and money
• Heightens people’s resistance to
change Global marketing
Global marketing is marketing on a
worldwide scale, reconciling or taking
commercial advantage of global operational
differences, similarities and opportunities
in order to meet global objectives.
Advantages
• Growth and expansion opportunities
• Economies of scale
• Higher profit margin
• Competitive edge
• Uniformity in marketing practices.
Disadvantages
• Global turmoil, egg recession or
Buzz Marketing
political coup
Marketing buzz or simply buzz a term used in word-of-mouth marketing-is the interaction of
• Culturally sensitive products cannot be
consumers and users of a product or service which serves to amplify the original marketing
message a vague but positive association, excitement, or anticipation about a product or services.
globalized
Word of mouth marketing also called word of mouth advertising, is an unpaid form of promotion
of products.
Viral Marketing
Viral marketing is a marketing technique that uses preexisting social networking services and
other technologies to produce increases in brand awareness or to achieve other marketing
objectives (such as product sales or marketing buzz). It can be delivered by word of mouth or
enhanced by the network effects of the Internet and mobile networks.
Buzz marketing vs. viral marketing
Viral marketing Buzz marketing
Definition Approach that encourages individuals to pass on a Buzz is the aggregate of all communication about a certain
marketing message to others, creating the potential for product that is propelled through grassroots activities among
exponential growth in the message’s exposure and people at any given time
influence
Principles Process whereby an idea spreads like a virus, catching Consumer-generated information dispersal through
strength, multiplying and mutating as like-minded individual network hubs, i.e., friends/colleagues or mega-
people market to one another hubs like Oprah Winfrey and Rosie O’Donnell
Strategy Self-replicating promotion, fanning out across Creating and leveraging a “buzz” by generating excitement,
community webs mfatuation, and missionary zeal
Advantages Cheap, easy, and powerful Transmit ideas quickly and Credibility of source
easily Effective and efficient
Medium Internet strategy, i.e., use e-mail website, software Network marketing, i.e., use face-to-face interaction with
download personal networks
Objective Create a message, send it via e-mail, and make it so Sustain excitement Generate
compelling that recipients want to pass it on to everyone demand Create customer
m their address book loyalty
Tools Use exponential power of “word of mouse” Use virtuous cycle of “word of mouth”
Risks/ Annoying e-mails More clutter Potential for backlash Challenge of translating “buzz” into sales Loss of control
Disadvantages (message, timing, audience, etc.) Difficult to measure
Tactics Give away product/service (e.g., free e-mail) Utilizes Cross-promotions (e.g., movie product placement) Place-based
existing communication networks Exploits common promotions
motivations and behavior Sponsorships (association with desirable event)
Ecommerce marketing
Ecommerce is the digital iteration of the traditional marketplace and has opened the world to a
brand-new frontier in marketing efforts. Digital marketing for ecommerce applies traditional
marketing principles to a multichannel, data-driven environment. It is the activity of
electronically buying or selling of products on online services or over the internet.
Types of ecommerce
Advantages
• Faster buying and selling procedure
• More reach to customers
• Low operational
costs Disadvantages
• No guarantee of
product quality due to
lack of personal touch.
• Not everyone is
connected to the internet
• Delay in receiving
Webgoods.
promoting is a comprehensive term for advertising items and administrations on the web.
This incorporates an assortment of strategies and stages for speaking with clients, like site, email,
web-based media,ONLINE
INTERNET and web based publicizing.
MARKETING
DEFINITION
Web advertising or internet online marketing alludes to the techniques used to advertise items
and administrations on the web and through other computerized implies. These can incorporate
an assortment of online stages, apparatuses, and content conveyance frameworks, for example,
1. Its savvy
Computerized promoting is incredibly practical. The significant piece of
Internet promoting is that it is reasonable and drives a quality profit from
speculation. When youre putting resources into showcasing your
business, you need to put resources into savvy strategies that will give
you a decent profit from your speculation. Advanced promoting strategies
are moderately reasonable contrasted with other publicizing techniques.
2. The Internet is consistently open
As we expressed already, the Internet is accessible to your crowd day in and day out. They can
get to your site at whatever point they need to get to it. This is incredible for your business since
clients have diverse work, rest, and social timetables. There isnt consistently a set opportunity to
contact individuals. Its difficult to contact them all simultaneously, yet Internet promoting
permits individuals to get to your business whenever of the day.
Internet,
Construction Owner (October 2020).