Construction Business Strategies Used by General Contractors in the United States for Market Enhancement
Publication: Construction Research Congress 2022
ABSTRACT
The construction industry is highly competitive and actively involved in multiple economic and societal areas. Construction companies need to establish superiority over others to stay progressive in such a climate, and the characteristics of marketing and industry have prominence in company growth. This research addresses various company expansion strategies used for industry diversification by general contractors. The paper first establishes a context for the strategy comparison through the literature review of marketing hypotheses. Then, it analyzes the differentiation between four frequently used market-growth methods with the purpose to initiate a revised competition strategy for small- and medium-sized enterprises in the construction industry in the data-centric era. The data are gathered using Web Crawler technology and from questionnaire surveys and utilize principal factor analysis based on the minimum covariance determinants to compare the data obtained from the construction industry. The results describe how construction companies fulfill the previously established characteristics for their growth.
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Construction Research Congress 2022
Pages: 1091 - 1099
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Published online: Mar 7, 2022
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