Market Research For The Construction Industry: Benchmark-Research UK

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Construction is a broad term describing a whole range of industries from (arguably) Estate Agents through to Multi Nationals capable of undertaking the most complex capital investment projects. It employs over 1.5 million people and accounts for around 10% of UK GDP. In short it's large, complex and important but, along with other sectors such as manufacturing it faces some real challenges.

As Sir John Egan put it in his forward to Rethinking Construction. "At its best the UK construction industry displays excellence. But, there is no doubt that substantial improvements in quality and efficiency are possible. Indeed, they are vital if the industry is to satisfy all its customers and reap the benefits of becoming a world leader"

Client Satisfaction and Retention studies

In truth Benchmark, like any other market research agency, can't help in every area but, we can help in one key area singled out by Sir John Egan: "delivering the value that our customers need". Over the years we have worked with a number of companies in this market doing just this. Understanding what customers really want and even more importantly value and then measuring how well the client is delivering against these needs. Of course price is important - it is in every market - but it really isn't the only issue and if you can satisfy or better still "wow" customers in other key delivery areas you can reduce price sensitivity and ultimately help profit margins.

We have developed an approach that shows construction service companies in clear, simple terms exactly how they are delivering the value that customers need, the areas they need to improve and the loyalty levels they enjoy from their customers. These are normally benchmarked against similar companies to provide reference points and add perspective.

Market sizing

The construction services sector is well served with empirical data from both trade associations and public bodies but collating and analysing data to answer specific business questions can be very time consuming. We have the resources and experience to find the right information, disseminate it and then provide clients with concise answers that then enable them to make informed business decisions. And, of course, if the information isn't available we have the skills and resources to conduct original research in the market in question.

Channel Research

The Construction services sector is complex and quite often the delivery channel, QS's, M&E's, Architects and more general sub contractors are critical to the success of a project. Understanding the channels attitudes towards the supplier - the strengths and weaknesses - and the opinions of the ultimate end user give a complete picture of the supply chain. After all a chain is only as strong as its weakest link and good research facilitates appropriate action and better delivery.

Brand Evaluation

The image and value of the brand is critical in consumer markets but in business to business markets such as construction services it is frequently under valued and misunderstood. It isn't just about the colour of the logo, the type face used or even the images used. Evaluating the brand, is however, all about understanding the elements that give the brand its strength and position in the market: awareness levels spontaneous and prompted), brand associations and values (reliable, leading edge, customer centric, market share, competitors profiles etc. all contribute to the brand's strength and a detailed understanding of the attributes helps to improve the effectiveness and focus of marketing.

Case Studies.

Owned by Rootdamages by FasT
Published on 16 October 2001
A well known provider of industrial flooring looked to review the role of flooring contractors in the buying process.

Owned by Rootdamages by FasT
Published on 16 October 2001
A profiling exercise was required to establish potential business opportunities for a leading UK Facilities Management company.

Owned by Rootdamages by FasT
Published on 16 October 2001
Research in support of a bid for a MOD Private Finance Initiative contract.