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Pages 18 (4518 words)
1. Identify the main ways in which the marketing activities of construction companies and consumer goods companies are similar, and the ways in which they differ. What do each have to learn from the other, and why
Some of the similarities between the marketing processes used by construction companies and companies selling consumer goods would be the structured process of strategic marketing followed, the approach to branding, profits and pricing strategies used, segmentation and differentiation of customers and understanding customer needs…
The construction and consumer goods companies also go through the process of external audit or market research and market analysis along with competitor analysis as well to understand the marketing processes and dynamics of business. Construction and consumer goods are marketed in accordance with analysis of processes, profit margins, organizations, product life cycles, as well as strategic plans such as branding and market reengineering. All these processes of strategic marketing, market orientation, customer focus, benchmarking, distribution and following company vision seem to be the similarities identified between construction marketing and consumer goods marketing. Strict monitoring and control, quality and customer services improvement are also some of the similar marketing objectives. This would bring us to the differences in marketing between the two types of products and the related companies. ...
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