Marketing Strategy and Plan Potential and Resources

Question: Describe about the Marketing Strategy and Plan for Potential and Resources. Answer: Introduction The construction sector in Turkey is a growing sector that has a lot of potential and resources in it and it generates employment to a large number of the residents of Turkey. The construction sector in Turkey grew by 7.1% in 2013. In 2012, the scenario was a lot different than this. In the last few years the Turkish construction sector developed only by 0.6%. The construction industry in Turkey is one of the leading sectors that lead the economy of the country. The construction sector has maintained a sustainable growth in the year 2012. The performance of this sector was not very high in 2013 and in the early 2014, but the growth in this industry remains to be higher than the growth of the entire economy. The long term and medium goals of the industry remains to be positive as the population in the country is increasing and the income from the urban sector is also rising. The construction industry in Turkey is highly competitive in nature. Some of the companies that lead the constr uction industry include Tekfan, TAV, Gama, Enka among a few others (Cakmak and Cakmak, 2014). Quality of construction industry Nowadays most business functions in competitive markets. Same is the case with the construction industry in Turkey. There are different ways which the firms can adopt to gain competitive edge over its rivals. The construction industry in turkey should play to its strength in order to gain advantage in the field of competition. The construction industry in Turkey produces quality products to the huge customer base. They produce superior quality products at cheaper prices. The services and products which the construction industry offers reach its customers in a very short span of time. Ilk Construction is a company in Turkey which is renowned for its best quality materials. The best quality services offered by the construction industry keep them in the top rank in the economy (Clfik et al. 2014). Marketing strategy of construction industry The marketing strategy of the construction industry of Turkey is note worthy. The Turkish construction industry follows a very strong marketing strategy in order to increase its target market, to satisfy its customers and to build long term relation with the customers to increase their profitability and to gain competitive advantage over its rival sectors. An example of a construction firm in turkey that is famous for its marketing strategy is Yapi Merkezi Insaat ve Sanayi As. There are certain particularities present in the construction industry which makes it very different from service and industrial sectors. An important marketing strategy that the construction firms undertake is that they promote their capabilities to meet and fulfil the demands of their customers to the greatest extent. This leads to value added in construction business (Gndz et al. 2012). Information technology as a strategic source The construction industry of Turkey largely depends on the information technology to expand their business and to increase profit. The use of information technology has created many opportunities and advantages in the construction industry in the exchange of information and accessibility and collaboration with its customers. The Turkish construction industry is an industry that is highly dependent on exchange of information and resources. As the complexity of the construction projects increases, the firms in the construction industry take the help of IT to do dealings with their partners. Nata Construction Tourism Trade and Industry Co. is a construction firm in Turkey that depends on information technology for its business dealings. (Grcanli and Mngen 2013). Knowledge management The construction industry of Turkey has a structure that is project based. In such a scenario knowledge management becomes necessary for improved performance of business, to satisfy customers and for innovation and invention of new strategies. Researchers have observed that if the Turkish construction industry aims to hold its high position in the economy and to continue to satisfy its customers to the highest level then the industry should pay special attention to the proper management of organisational knowledge. The knowledge management process of the construction industry involves proper interaction among technology, process and people. The proper knowledge management is of utmost importance for construction firms to maintain their standards in the industry. IC Ictas Insaat Sanayi ve Ticaret AS is a construction firm in Turkey that excels in knowledge management. (Kazaz et al. 2012). Innovation in construction industry Innovation is the process of transforming new ideas into opportunities and scope of the industry. These new ideas then get implemented within the industry to produce new and improved products and services that adds value to the business process. The Turkish construction industry exists in a very competitive environment. To stand out in this competitive world the construction industry should implement innovative ideas and strategies in their functioning. Innovation gives a competitive edge to the industry. The uniqueness of the services and products offered by the industry increases their customer satisfaction. Innovation may also save the cost and time of production of the construction industry. Yuksel Insaat Co. Inc is a highly innovative construction company in Turkey. (Ozkan et al. 2012). Performance management in construction industry The management of performance of the business is of prime importance to maintain high profit and turnover of the business. Businessmen usually measure the performance of their business in terms financial turnover and profit achieved. Nowadays the construction industry has resorted to measure its performance by the use of conceptual models or some measurement techniques. This helps them to compare, quantify and manage their performance levels. High performance levels show that the industry is capable for strategic management. Atlas Texas Construction and Trading Inc is a construction firm in Turkey with high levels of performance management. (Sousa et al. 2014). Conclusion The report throws light on the features and functioning of the construction industry in Turkey. The report discusses in details about the quality of the products produced by the industry, the marketing strategy of the industry. The report highlights the dependence of the industry on information technology and discusses the performance management policy of the construction industry of Turkey. References: Cakmak, E. and Cakmak, P.I., 2014. An Analysis of causes of disputes in the construction industry using analytical network process.Procedia-Social and Behavioral Sciences,109, pp.183-187. Clfik, M., Sarikaya, O. and Altun, H., 2014. Causes of delays in construction projects in Turkey. In11th International congress on advances in civil engineering. Gndz, M., Nielsen, Y. and zdemir, M., 2012. Quantification of delay factors using the relative importance index method for construction projects in Turkey.Journal of Management in Engineering,29(2), pp.133-139. Grcanli, G.E. and Mngen, U., 2013. Analysis of construction accidents in Turkey and responsible parties.Industrial health,51(6), p.581. Kazaz, A., Ulubeyli, S. and Tuncbilekli, N.A., 2012. Causes of delays in construction projects in Turkey.Journal of Civil Engineering and Management,18(3), pp.426-435. Ozkan, F., Ozkan, O. and Gunduz, M., 2012. Causal relationship between construction investment policy and economic growth in Turkey.Technological Forecasting and Social Change,79(2), pp.362-370. Shehu, Z., Endut, I.R., Akintoye, A. and Holt, G.D., 2014. Cost overrun in the Malaysian construction industry projects: A deeper insight.International Journal of Project Management,32(8), pp.1471-1480. Sousa, V., Almeida, N.M. and Dias, L.A., 2014. Risk-based management of occupational safety and health in the construction industryPart 1: Background knowledge.Safety science,66, pp.75-86.