Marketing in Construction: Opportunities and Challenges for SMEs

Abstract

Over the last decade, competitive advantage has become very difficult to achieve and maintain in all the economic sectors including the construction industry. Construction Marketing, therefore, is becoming a much more serious activity in construction born out of necessity to the extent that innate desire to pursue its merits. Consequently, many construction enterprises face difficulties in selling their services and products. Several theories have been developed which can be adopted in the preparation of marketing strategies, but these theories are not always effective, especially if they are not implemented properly. This paper reports the key findings of case studies on how Knowledge Transfer Units have helped small to medium enterprises (SMEs) improve their marketing knowledge and expertise. It is found that there is a lack of understanding the basic marketing principles as well as lack of awareness of the importance of keeping existing clients especially those of SMEs. In conclusion, the majority of construction industry firms have yet to adopt marketing as a cornerstone of strategy and management.