ACH 218 Lecture 04 (Marketing In Construction) Part 1


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ACH 218 Lecture 04 (Marketing In Construction) Part 1

  1. 1. Marketing in Construction Business Identity & Image Marketing Strategies Proposals and Presentations
  2. 2. Why is Marketing so Important? <ul><li>Marketing is everything a firm does to create awareness and demand for its services </li></ul><ul><li>An approach to sell the construction services to those that will need it the most </li></ul><ul><ul><li>Identifies a TARGET audience that needs a specific construction service </li></ul></ul><ul><li>Maintains an identity for the construction company </li></ul><ul><ul><li>i.e.: “this company is known for doing this type of work” </li></ul></ul>
  3. 3. Marketing is one of the most neglected aspects of a construction company. A construction company must “advertise” their business to maintain vitality and forecast prospective work. Construction firms must have an IDENTITY , a STATEGY and an APPROACH
  4. 4. Business Image and Identity <ul><li>Construction companies must have an IDENTITY </li></ul><ul><ul><li>Focus on what you want your company to project </li></ul></ul><ul><ul><ul><li>Good business ethics and relations </li></ul></ul></ul><ul><ul><ul><li>Good quality product </li></ul></ul></ul><ul><ul><ul><li>Fair, equal and encouraging to your employees </li></ul></ul></ul><ul><ul><li>A company’s actions and communications reveal a great deal about the firm and the way they do business </li></ul></ul><ul><ul><ul><li>Vision and values </li></ul></ul></ul><ul><ul><ul><li>Culture and Character </li></ul></ul></ul><ul><ul><ul><li>Expertise and Strengths </li></ul></ul></ul>
  5. 5. Business Image and Identity <ul><li>Image and corporate identity are POWERFUL marketing tools that can strategically position a contractor in the marketplace </li></ul><ul><ul><li>Identity is a long-term investment </li></ul></ul><ul><ul><ul><li>The firm can forge better business relationships </li></ul></ul></ul><ul><ul><ul><li>Build positive perceptions </li></ul></ul></ul><ul><ul><ul><li>Inspire loyalty from past and future clients </li></ul></ul></ul><ul><ul><ul><li>Differentiate itself within its market </li></ul></ul></ul>
  6. 6. Business Image and Identity <ul><li>IMAGE and IDENTITY become a corporate asset </li></ul><ul><ul><li>Potential clients pay attention when good “word of mouth” is passed about your company </li></ul></ul><ul><ul><ul><li>They also pay attention when it’s BAD </li></ul></ul></ul><ul><ul><li>Maintaining your “good name” should be top priority 24/7 </li></ul></ul><ul><ul><ul><li>You have “bragging” rights when your company completes the project on time and within budget; don’t be afraid to “show off your baby” </li></ul></ul></ul><ul><ul><ul><li>When a mistake happens, don’t cover it up, don’t lie about it </li></ul></ul></ul><ul><ul><ul><ul><li>A truthful company is one that has integrity </li></ul></ul></ul></ul><ul><ul><li>Protect your image asset by doing good business and being truthful when things waiver and “go south” </li></ul></ul>
  7. 7. Business Image and Identity <ul><li>IMAGE and IDENTITY become a corporate asset </li></ul><ul><ul><li>When someone looks at your logo without your company name, it should be AUTOMATIC that your company is identified with that logo </li></ul></ul><ul><ul><ul><li>Your logo should be eye-catching but not too flashy </li></ul></ul></ul><ul><ul><ul><li>Be instantly recognized when seen </li></ul></ul></ul><ul><ul><ul><li>Use items related to your trade or service </li></ul></ul></ul><ul><ul><ul><li>Do not use other marketing devices from other companies in your logo and image campaign </li></ul></ul></ul>
  8. 9. Business Image and Identity <ul><li>Company logo should be placed on anything that your company distributes, uses and advertises </li></ul><ul><ul><li>Business Cards </li></ul></ul><ul><ul><li>Stationary (letterhead, envelopes, memo pads, fax transmittals) </li></ul></ul><ul><ul><li>Bid Proposals </li></ul></ul><ul><ul><li>Project Correspondence </li></ul></ul><ul><ul><li>Company equipment and vehicles (including hardhats) </li></ul></ul><ul><ul><li>Marketing signs, brochures, newsletters, give-aways (mugs, key chains) </li></ul></ul><ul><ul><li>Company attire (including hats and shirts) </li></ul></ul>
  9. 10. Business Image and Identity <ul><li>Key items to impress as a part of your company’s image </li></ul><ul><ul><li>Experience </li></ul></ul><ul><ul><li>Sophistication </li></ul></ul><ul><ul><li>Stability </li></ul></ul><ul><ul><li>Knowledge of craft or service </li></ul></ul><ul><ul><li>Professionalism </li></ul></ul><ul><ul><li>Success and Growth </li></ul></ul>
  10. 11. Marketing Strategies <ul><li>Marketing involves targeting a group that needs a specific service </li></ul><ul><ul><li>In construction, it can be pubic, private and institutional sectors </li></ul></ul><ul><ul><li>Another specific group is DEVELOPERS </li></ul></ul><ul><li>Once the group has been established, the tools must be put into place to reach this group </li></ul><ul><ul><li>A marketing strategy and materials to gain attention and influence on the group </li></ul></ul>
  11. 12. Marketing Strategies <ul><li>Determining the company’s target </li></ul><ul><ul><li>Identify the group to which your service is needed </li></ul></ul><ul><ul><li>Identify the market needs & directions </li></ul></ul><ul><ul><li>Establish what types of services will be most profitable to that group </li></ul></ul><ul><ul><ul><li>Based on company’s strengths and capabilities </li></ul></ul></ul>
  12. 13. Marketing Strategies <ul><li>Once company’s target has been determined: </li></ul><ul><ul><li>Market those services to that group </li></ul></ul><ul><ul><li>Company then communicates its ability to perform those services </li></ul></ul><ul><ul><ul><li>This will also attract potential contracts </li></ul></ul></ul><ul><ul><li>Company maintains marketing approach to those groups and improves on “advertising” means </li></ul></ul><ul><ul><ul><li>Keeping it fresh will keep people interested </li></ul></ul></ul><ul><ul><ul><li>Performing quality work will keep clients coming back </li></ul></ul></ul>
  13. 14. The construction customer is very sensitive to price, time and quality of product. It’s essential that construction companies maintain their services and make efforts to continually IMPROVE those services.
  14. 15. What’s NEXT?? The Marketing Plan can be simple or complex, can be developed in house or by a professional. But it is needed to focus on the future success of any construction company. Develop a MARKETING PLAN
  15. 16. NEXT CLASS Lecture continued: Marketing Strategies for Construction Companies Marketing Plan, Presentations, Proposals Reading to be Posted under Module #4: Reading: Marketing Services and Support