Business development strategies used by general contracting construction companies in Texas for market diversification

Abstract

The construction industry in recent times is seen to be highly competitive and dynamic. To remain progressive in such an environment construction companies need to be aggressive in terms of getting business. This is where the importance of marketing and business development comes into play. This thesis addresses the different business development strategies used by general contracting construction companies in Texas for market diversification. Initially, a framework is established for this study through the presentation of brief history and marketing theories. Then, through literature review, four common business development strategies are identified, which are in turn later used to compare the data collected from the industry. Data are collected via surveys of general contractors in Texas. Results show that companies which satisfied majority of the four characteristics identified previously showed better growth. Further conclusions are discussed and future recommendations are also presented.