Market survey in construction industry
Identify top three areas for improvement and provide suggestions Answer: 1 All the firms need to exhibit a touch with their markets and customers. Such a step will provide best reputation. But majority of the firm lose touch due to several reasons. Such reasons are indicated in the following table no. L Reasons leading to no touch[table no:l] 1. Non professionalism lack of expertise. 2. Adamant / improper culture higher Judgments. 3. Less information about the market unfair nature of the company. 4. Less information what customer wants Innocence
Remarks: The above table is indicating the reasons for lack of touch and also the factors behind each factor. Implication of the above reasons: 1. Loss of reputation. 2. Decline in the market share. 3. Rapid drops in the profitability. Remedial measures to overcome above: 1 . Training the department and professionals. 2. Conducting a market research to assess aspirations of clients and customers. 3. Design/develop/organizequestionnairesfor data collection/ analysis. Answer:AAA I am associated with Shapiro Apollonian & co Ltd. My company is lost the projects for so many reasons,
In this case, my company lost touch with the market segment due to this, company is exhibiting learning competency to show improvements. This is shown in the following table. Learning competency: [table no: 2] Factor Learning competency Customer satisfaction. Management requirement/product design/development. High quality. TTS Low cost. Cost reduction/cost control. Post sale service. Commitment/special team development/necessary. Lower guaranty/warranty Product life cycle appearance. The above table indicates the learning competency adoption measuring.
Product Life Cycle Initial Occidentalizing Development mm [Fig no: 1] mm mm Tabooed figure indicating the learning competency adoption measures The above product life cycle approach indicates three important areas for improvement. 1 . Product technology in an innovative fashion so as to deliver high quality products at the lowest price. 2. Very high productivity oriented labor to deliver products in time with very low rejection rates. 3. Well established infrastructure [non automatic] where the machinery are contributing to successful production.
The above areas contribute to a healthy working to the company. Suggestions for improvement: A long sustenance in the market demands very high customer satisfaction. Hence, the company should work for improved quality at lowest cost to attract customer satisfaction 2. Company should consider product obsolescence. It means the company to be vigilant always to modern developments. 3. Automation to be avoided. This is because the question on learning competency. Learning is on the part of individuals but not on machines. Machines do not learn but individuals learn.
Hence major proportion of labor and a miner proportion of machines is recommended. Other improvements 1 . Marketing’s with high profit orientation. 2. Setting product strategy with higher contributions. 3. E -commerce marketing practices attracting key customers. 4. Designing and managing integrated marketing communications interactive marketing for effective market share enhancements rapidly. 5. Managing development process to release products as per schedules. 6. Building customer value satisfaction and loyalty. All these improvements are oriented towards a very rapid growth.