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Construction Market Segmentation |
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The construction market has changed significantly in recent years and is set to change even more in the future.
The construction industry has come under intense pressure to improve productivity and quality while reducing cost with initiatives like off-site manufacture and modern methods of construction. The nature of project funding has also changed with the Private Finance Initiative (PFI) playing a major role in funding the public sector.
These pressures have lead to changes in the way buildings are constructed which have in turn changed the way products and services are selected and purchased. The end result has been to create a complex and dynamic marketplace.
To successfully operate in this complicated environment a business can adopt market segmentation. This process breaks down the market into groups of customers with similar behaviour and needs.
Get these segments right and they allow you to accurately target customers, recognise competitors, measure performance and anticipate trends.
Analysis of each segment will identify those which offer the best opportunities by considering sector growth, company strengths, competition, experience and customer relationships. Having identified the sectors which will give the best return on your sales and marketing resources an effective strategy can be developed. This will involve the matching of products to each customer group’s needs, selecting the best supply channels to ensure good product availability and implementing an effective sales plan.
Segmentation Workshop
Competitive Advantage can work with you and your team to segment your market, identify the different customer types and create a strategy to develop these. Run as a workshop the programme introduces the concepts of segmentation and facilitates the generation of ideas by your team. At the end of the programme you have a strategy based on your team’s knowledge and experience which they are committed to achieving. For further information click on subject to download leaflet.
Market Segmentation Workshop
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