The pursuit for effective strategic planning is in formulating a strong brand identity and brand equity that outlines exceptional management principles. In the industry of construction, the strategic management on measures that strengthens the customer base is imperative to solidify the SWOT and PEST analysis. The construction company is prone to changes in the industry that can influence senior management decision making in materials, location, competitors, and price adjustments, therefore, the Porter’s Five Forces are essential. The approach for a successful construction company in the market relates to a concentrated effort on value proposition.
The factors involved for a successful management of a construction company is identifying the core message to the designed targeted market. The core message for delivering quality and exceptional construction at avoidable prices creates value proposition. The strategic management in innovation in technology and trends provide a solidifying effort that builds long lasting structures. Therefore, the development of new product lines and land development opportunities further assist in the effectiveness of the strategic management approach in the construction industry.
The analysis of demographic segmentation for a construction business is the pursuit for an increase of the share of the customer in the market, high customer equity, and brand equity that provides continued growth for operations. The strategic analysis to accomplish such tasks are primarily led by senior management to selecting the target demographic markets and building profitable relationships with them is the foundation of marketing management (Porter, 2004). The formula for the strategic marketing management agenda is the philosophy for a creative architecture designs for a customer-driven marketing strategy. It is the management’s aim to find an exceptional position to finding, attracting, keeping, and grow the target customers by creating, delivering, and communicating superior customer value.
In analysis of the SWOT and PEST the impact is substantial to reaching set goals and initiatives. The construction company strengths are adapting to changing trends and potential to reinvent a previous concept due to flexibility in creativity. The weakness associated is in the manageability of capitol to complete current projects while attempting to secure future ones that could render negative losses if not successful. However, the identified strengths encourages the brand identity that offers instantly opportunities relating to returned clients, company expansion, and the ability to invest in land development. The threat identified is the construction company effort to balancing the right investment in technology, innovation, and sub-contractors to serve the targeted market.
The political aspect is the sustaining the business relationships with vendors that support the strategic management approach to such ventures. The economic landscape plays a pivotal point of reference to outlined financial standing of the construction company for implementing strategy. In addition, the economic platform encourages a positive influence in the international market when positives changes occur in the economy. The technology changes are constantly available that provides management to facilitate specific needs and desires in construction both domestically and internationally. In doing so, the construction company will present a winning strategy to sustaining and developing the targeted demographic.
Strategic Option and Strategic Choice
The market penetration in the targeted demographic segmentation creates not just a preference of the brand product or service but the value proposition in effective construction. The potential withdrawal from some international markets can overall benefit the value proposition, in order, to create more a dedicated focus for the targeted demographic (Pelsmacker, 2006). In doing so, the approach encourages market development in specified areas that ranges from renovation, commercial, and new construction that increases the brand identity. The product development provides a synergy with the newer features catered to interior design portion of the construction business. This strategic approach empowers the diversification and specialization to market effectively to the targeted demographic.
The strategic implementation for the construction company is the high demand product of construction within the designated budget on specific client preferences. The balance of using the targeted marketing segmentation is essential to establishing a coalition to a marketing campaign that does not reduce other needed areas to be focused on for instance technology and innovation. The strategic marketing is adapted by implementing advertising of such products to reinvent the business entity into a satisfactory quality product, in order to sustain the brand identity and the brand equity (Schein, 2004).
The implemented marketing concept will promote the cost effectiveness for available plans to choose from that reinforces company’s strengths. Therefore, the usage of supplier diversification minimizes the barriers into the market and reduces any threat of substitutes to avoid resistance from the demographic landscape. The awareness level provides an open forum for strategic implementation in marketing the construction company core value proposition of signature building structures. The focused price adjustments towards demographic group from low-end budgets to high-end budgets incorporate a strong buyer’s power. The engagement of these strategic measures enables a formidable approach to instill custom-made construction company marketing segmentation model.
Pelsmacker, Patrick (2006) Marketing Communications: A European Perspective. Financial Times/ Prentice Hall; 3 edition
Porter, Michael (2004) Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press; New Ed edition
Schein, Edgar (2004) Organizational Culture and Leadership. Jossey Bass; 3rd Edition