The Importance of Marketing Strategy for Creating and Maintaining Goodwill for Construction Companies

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26110%2F18%3APU129329" target="_blank" >RIV/00216305:26110/18:PU129329 - isvavai.cz</a>

Result on the web

<a href="http://www.esd-conference.com/past-conferences" target="_blank" >http://www.esd-conference.com/past-conferences</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

The Importance of Marketing Strategy for Creating and Maintaining Goodwill for Construction Companies

Original language description

If a company wants to have a long-term presence on the market, it must have a long-term marketing strategy. It should respect the expected technical, technological and socio-economic development. All these factors are clearly manifested in the construction industry. Construction activities are specific in that their products are for long-term use and financially demanding for the investor.The underestimation of trends, technological changes and investor requirements leads to loss of clients and a significant deterioration in the economic situation. Creating a marketing strategy to keep it on the market can prevent these problems. In construction it means estimating trends and shaping a marketing strategy. This activity is very demanding and costly. It leads to the creation of Goodwill and its focus and is an integral part of the company's assets. If is the marketing strategy insufficient or wrong, it will result in the loss of Goodwill and therefore clients in the market. Construction companies needs to build Goodwill and record it as part of the company’s property. Goodwill is also part of internal accounting. This is where the cost of marketing will take place, not only in terms of costs. There is a need for companies to deliberately choose the methods through which they will express the value of Goodwill.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

20101 - Civil engineering

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2018

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

34th International Scientific Conference on Economic and Social Development – "XVIII International Social Congress (ISC - 2018)", Book of Proceedings

ISBN

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ISSN

1849-7535

e-ISSN

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Number of pages

9

Pages from-to

42-50

Publisher name

Varazdin Development Entrepreneurship Agency

Place of publication

Varazdin, Chorvatsko

Event location

Moskva

Event date

Oct 18, 2018

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000464906000005