The purpose of this assignment is to develop a plan for a XYZ Construction marketing flyer that illustrates and outlines the key aspects of the company. The marketing plan will be developed in order to detail the expansion of XYZ construction, INC, and the growth as well as the future goals of the company within the construction industry. The marketing plan will provide a detailed strategic outlook on the future plans over a twelve month period of XYZ Construction entering an unfamiliar market, and transitioning from a private to a public company. With the help of a private consultant, XYZ Construction will successfully analyze key aspects of business information needed for the company to successfully go public for its Initial Public Offering (IPO). This plan will consist of several phases that provide an outline for the key aspects that will help the company in the following services; financial, design and delivery, marketing, and services.
The purpose of creating a marketing flyer is to get out to potential customers; new and old. Specifically XYZ Construction Inc., hopes to create a marketing flyer that will expand operations nationally and internationally. This marketing flyer plan is for the preparation of introducing XYZ Construction Inc., into the public sector. The market that XYZ Construction Inc., is preparing to enter is new to them, and they have consulted the help of a private consultant in order to guide them through the competitive construction industry. According to Buttell, “An effective marketing plan definesand organizes your marketing efforts, sothat you are focused on implementingthe vision of your practice through targeted efforts.” (Buttell, 2009) XYZ Construction Inc., regularly caters to state and federal government contracts, but are wanting to diversify their services and clients by offering residential services. With the developing of the marketing flyer plan, we will provide strategy for XYZ Construction Inc., project management considerations in order to improve cost effectiveness during large and small scale projects for residential and private construction.
XYZ Construction, Inc. is a privately owned family company founded in the 1950s, with headquarters in Denver, Colorado. XYZ Construction Inc. has 16 field offices located throughout the United States in 11 states that has 2,300 year round employees, and during peak time the employees surge to an average of 4,500 employees. XYZ Construction Inc., performs horizontal construction work including roads, airfields, and bridges. Presently the owners of XYZ Construction Inc., has decided that in their half a century existent that they want to transition from a privately owned business to a public ownership with plans for its Initial Public Offering (IPO) in the next 12 months. Over the next 12 months, XYZ Construction has hired a private consultant in order to develop and create a marketing plan to implement within the company that will outline the company’s services to new and old customers. The XYZ Construction Inc., has to revamp and develop different departments in order to ensure a smooth transition into the public sector.
The services that XYZ Construction Inc., offers are to perform horizontal construction work, within roads, airfields, and bridges. Their workforce includes light and heavy equipment operators, along with civil engineers, and project managers along with an administrative staff located in the headquarters facility. Currently XYZ Construction Inc., provides services to commercial areas that caters to local areas that create roads, highways, and paths for transportation expansion. In commercial area, XYZ Construction Inc. provides construction for excavation, pavement, and design and build for the new and existing roads located in each of the 11 branches. XYZ Construction Inc., is one of the leading companies within the Western Region, which are consistently awarded state and federal government contracts. XYZ Construction Inc. has over 60 years of experience working in the commercial sector, and is determine to continue their success transitioning to the public sector. Expanding to residential and private consumers, will help to open up more opportunities for services geared towards helping their new customers. This marketing flyer will present XYZ Construction Inc., to the public that will help build on their business reputation, which is a priority to a majority of homeowners.
One of the first steps to effectively create a marketing flyer is to collect different types of information before the final product. During research and inspection on services and activities not only helps with identifying distribution times but also potential competitors distribution. Ocular inspection is, “looking at the different areas for deployment.” (Marks, 2011). This is essential in building a plan that is competitive to other companies, when targeting the right audience and markets. According to Buttell, “A robust marketing plan is based on a business plan that clearly defines your niche and your potential audience.” (Buttell, 2009) The information collected is key to understanding the new market that XYZ Construction Inc., wants to enter. Doing oculars puts them at a competitive edge because the company will know, “exactly the right times where they pass by or arrive in those places (markets).” (Marks, 2011)
Knowing the right seasonal and peak times for consumers in the market are a part of doing consumer research. “Knowing your consumer helps you gain insights on how exactly to deliver your marketing tool.” (Marks, 2011) Consumer research helps to identity the correct consumer environment and the best location in order to cater to residential consumers. Carving out the target and external audiences helps to develop new means and services in order to get across to new and old customers. When the company has identified the niche audience, “it’s time to roll up your sleeves and get to the work of developing business intelligence on the companies and/or individuals who fall into this market segment and meet your profile.” (Hernandez, 2008) When trying to reach the target audience an effective marketing plan is not only beneficial, but according to Buttell, “It also helps our business identify strengths and weaknesses and analyze our market condition and how we compete with our competitors.” (Buttell, 2009)
Knowing competitors distribution times is also important, and information found in consumer research and data gathering. Not only the times of distribution but also the products they are distributing. The competitor’s distribution could be seen as a threat to marketing efforts, “by knowing where they are, you will know which location where you should double your efforts, so that you can be more competitive and beat them on those areas.” (Marks, 2011) These also open up potential marketing channels needed to reach the target audience and gain competitors’ customers. The marketing strategy of XYZ Construction Inc., is to remain in constant communication with consumers in order to not miss out on opportunities needed to keep the company at the top of the list. According to Buttell, “when you have a niche and have defined that, you immediately carve out a whole section of channels where you can be marketing, so you can start focusing your efforts instead of just showing up and doing anything.” (Buttell, 2009) The focus of the marketing flyer will be on targeting residential homeowners, and private businesses that are looking for construction services, and looking for upgrades in improving their properties. The design will be will be focus on the important aspects of the company and provide enough color and graphic that won’t take away the focus of potential customers. The flyer will provide company information for contact and feedback so that the company can measure the success of the flyer. (Schulaka, 2011)
Financial, Economic, and Global Strategy
In order for the marketing flyer to be successful, a financial strategy must be implemented in order to keep the company successful and profitable. In solving the problem of project management considerations in order to improve cost effectiveness during large and small scale projects for residential and private construction. Publicizing using the lowest cost structure that can meet business needs, allows for the company to design with the lowest maintenance and operating costs. This helps to build constructions with the longest life spans, and constructions that are more productive and offer the greatest return on investments. Creating an economically efficient plan in project management helps to provide a cost effective life-cycle where costs and benefits are evaluated and compared for every project.
XYZ Construction Inc., has been successful in gaining state and federal contracts, and looking to increase their capital while moving to public exposure. “One of the most common reasons for going public is to raise primary capital to fund organic growth, repay debt or fund an acquisition.” (NYSE, n.d) Not only does give the company access to new sources for capital but also adds equity, increased liquidity, and increase the shares for the company and their shareholders. Going public can increase financials with worldwide exposure through financial markets, with coverage from worldwide media, enhancing visibility. Cost effectiveness during large and small scale projects will be handled with new avenues for revenue and market share. (NYSE, n.d) The economy for construction services is rising, and the demand for residential and private services is up. Listing on NYSE will provide stock benefits for the company and theiremployees, providing a good work environment for the thousands of employees the company employees. While also exposing the company to set up locations internationally with vendors and potential employees worldwide.
Business Ethics, Leadership, Legality, and Business Integration
XYZ Construction Inc., has been in business for over 60 years, starting off as a family business, the leadership that has propelled them to be successful is important when going public, where business ethics, and leadership are a priority. Shareholders will hold the company responsible for decisions that will not only benefit shareholders and the company but also made ethically to keep the company from ending up like many other major companies that break the law. (Stanwick&Stanwick, 2011) As a construction company, XYZ Construction Inc., must stay on top of laws including Environmental, Business, and Corporate laws.
Hernandez, Tami. (2008). “Niche Marketing Strategies for the Construction Business Owner.” Construction Business Owner. Retrieved from http://www.constructionbusinessowner.com/topics/marketing/construction-marketing/niche-marketing-strategies-construction-business-owner
Marks, Kaye. (2011). “The Competitive Battle Plan for Flyer Marketing.” Yahoo. Voices. Retrieved from http://voices.yahoo.com/the-competitive-battle-plan-flyer-marketing-8229839.html?cat=35