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Marketing analysis for Construction Forensic
Finance & Accounting
Pages 15 (3765 words)
Industry Analysis Construction Industry The Construction Industry has been evolving constantly. With the rapidly changing business environment, we see a change in the marketing tactics and strategies of these companies. Today, the marketing campaigns of renowned contractors focus on product quality, value offerings, repeat purchases, and try to communicate the value and the solution offered.
Hence, we see that the construction industry has taken over a number of services that were offered by A/E consultants. The contractors have taken over a large share of the service market of A/E consultants and thus, A/E firms need to expand the services offered to retain their market shares. They need to venture into service segments such as providing financial assistance to the clients, assistance with regulations, cost analysis of project life cycle, O&M functions, and renovation services. The situation has changed dramatically for marketing professionals and construction services providers and it is not as simple as it used to be. The shift in the project delivery system and the advances in communication technology requires the architects and the engineers to change themselves from their usual procedures of working. For example, in the past architects relied on their name and recognition whereas consulting engineers relied on 80/20 rule2 , and general contractors used to bid low in competitive bidding situations3. ...
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