Since the financial crisis in East Asia, major construction companies have become dominant players in the Korean apartment market. Therefore, small and medium sized construction companies with relatively poor brand equity have experienced difficulties in competing with major ones. To overcome their weakness, small and medium sized companies make their own brands and started marketing activities aggressively including advertising through mass media. However, to overcome the current disadvantages compared to larger sized construction firms, the smaller construction firms should find a differentiated marketing strategy. We believe that the starting point of such strategic planning should be understanding the consumers and their needs. If the consumer needs of the small and medium sized construction firms are different from those of the larger sized firms, these differences should be used for the marketing strategy development.
Since the financial crisis in East Asia, major construction companies have become dominant players in the Korean apartment market. Therefore, small and medium sized construction companies with relatively poor brand equity have experienced difficulties in competing with major ones. To overcome their weakness, small and medium sized companies make their own brands and started marketing activities aggressively including advertising through mass media. However, to overcome the current disadvantages compared to larger sized construction firms, the smaller construction firms should find a differentiated marketing strategy. We believe that the starting point of such strategic planning should be understanding the consumers and their needs. If the consumer needs of the small and medium sized construction firms are different from those of the larger sized firms, these differences should be used for the marketing strategy development.
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