Asante, J; Kissi, E; Acheampong, A and Badu, E (2024) State of market intelligence development within construction companies: Evidence from Ghana. Construction Economics and Building, 24(4-5), pp. 98-113. ISSN 2204-9029
Abstract
Market intelligence (MI) forms the bedrock of the marketing concept, serving as a vital component in market-oriented strategic planning and execution. However, construction companies (CCs) have been criticized for not realizing the value of MI. Therefore, the objective of this study is to assess the current state of MI development within CCs in Ghana. Using a purposive sampling approach, the data was collected using a forced-choice answer interview guide with a sample of 56 CCs. The results of the interview were assessed against 'The World Class MI Roadmap' to determine the current state of MI development within CCs. The overall result deduced is that MI development within the CCs is largely limited, informal, and ad hoc in nature and lacks dedicated resources. It is recommended that CCs should work on nurturing MI culture to keep MI activities more active to derive advantages obtainable from the utilization of MI. Further research is needed to explore the development of an MI-based framework to guide the effective utilization of MI by CCs.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | competitive intelligence; construction industry; developing countries; industry practices; market intelligence |
| Index terms: | construction company, market intelligence, interview, developing country, evidence, Ghana, construction industry, purposive sampling, marketing, strategic planning |
| Subjects: | business, data collection methods, industry analysis, management, organization, evaluation and assessment methods, strategic management, research methods, development economics, Geography |
| Topics: | International Construction, Business Strategy, Research Practice, Geographical Context |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here