How important is marketing in the construction sector? When considering this I came across the case study of Coca Cola breaking into the Vietnamese market.
What issues did Coca Cola have when breaking into this lucrative market?
The main issue was that the cultural aspirations of Vietnamese people was totally opposite to that of western culture. Whereas in the west it’s the ideal to be slim and tanned, apparently the Vietnamese like their skin to be pale and they see being overweight is a sign of wealth
The Coca Cola marketing people looked at this and came up with the innovative idea to get a large person drinking their product. This was not straightforward as most Vietnamese are very slight. Their solution – they found a large Japanese man drinking a can of coke!
Within 3 months of the adverts going out on prime TV they had cornered 70% of the soft drinks market.
How does this relate to the construction market, what lessons can be learnt from their success?
First and foremost is your product sellable. Secondly how does your product fit within the industry, no good going after a new build contract if your strength is refurbishment. Lastly and most importantly how can you demonstrate you can deliver what you say you do.
Be honest with yourself do you understand how important these 3 elements are to your business, if not the process of sales becomes so much harder. Most importantly retaining repeat business which is the corner stone of any successful business becomes impossible.