According to statistics, the price of construction materials has continued to increase from the beginning of 2021 until now. Most construction materials such as cement, bricks, tiles, electricity, and water supplies have increased prices by 10-20%; especially steel prices increased by 30-40%. Meanwhile, signs of price increase have not shown any signs of cooling down and common mineral resources such as ground soil, sand, and stone… are becoming scarce.
Large general contractors are divided into many contractors with similar operating methods and capabilities.Jone Mark
Competitive pressure is getting fiercer
The heavy impact of this 4th wave of Covid made market demand decrease, many projects were delayed or canceled. Public investment projects are congested and input prices increase, while the budget estimates cannot be adjusted. FDI projects in the manufacturing sector were also delayed because investors could not come to Vietnam, and production and business activities were delayed due to many supply chains being disrupted.
The ability to expand new customers is still limited
It is a fact that the ability to access and expand new customer groups and projects of many construction businesses is currently facing difficulties due to the way of searching, assessing, and approaching new opportunities in the market.
- The largest and most prestigious in Vietnam today
- The content of the email will update the fluctuations of the industrial
- This is an effective information channel for businesses in the industry to quickly find
Most construction enterprises have not yet paid attention and focused on researching how to do and invest in Marketing. While customers are foreign investors, it is difficult for them to find information and approach businesses early due to obstacles in terms of distance, language, culture…
Besides, the ability to convince customers to use products and services in the construction industry is still limited. Most businesses often only focus on reducing prices, promoting personal relationships, or using outside influences to influence to push products faster. These factors are becoming increasingly outdated, do not increase profits, and develop sustainably based on the capacity and value of the business.