Publication detail

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

DOHNAL, R. HANUŠOVÁ, H. LIPOVSKÁ, Z.

Original Title

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

Type

conference paper

Language

English

Original Abstract

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.

Keywords

Goodwil; Marketing; Marketing Strategy; Acounting

Authors

DOHNAL, R.; HANUŠOVÁ, H.; LIPOVSKÁ, Z.

Released

18. 10. 2018

Publisher

Varazdin Development Entrepreneurship Agency

Location

Varazdin, Chorvatsko

ISBN

1849-7535

Periodical

Book Series: International Scientific Conference on Economic and Social Development

State

Republic of Croatia

Pages from

42

Pages to

50

Pages count

9

URL

http://www.esd-conference.com/past-conferences

BibTex

@inproceedings{BUT150568,
  author="Radek {Dohnal} and Helena {Hanušová} and Zuzana {Lipovská}",
  title="The Importance of Marketing Strategy for Creating and Maintaining Goodwill for Construction Companies",
  booktitle="34th International Scientific Conference on Economic and Social Development – {"}XVIII International Social Congress (ISC - 2018){"}, Book of Proceedings",
  year="2018",
  journal="Book Series: International Scientific Conference on Economic and Social Development",
  pages="42--50",
  publisher="Varazdin Development Entrepreneurship Agency",
  address="Varazdin, Chorvatsko",
  issn="1849-7535",
  url="http://www.esd-conference.com/past-conferences"
}