Markets in the construction industry are shifting from industrial to commercial–residential and electrical construction makers are following suit. This shift in market will have a major impact on the market share of the union contractors.
Market share has been one of the main measurements for businesses since the early 20th century. Share of the market by itself, however, does not justify any concern or lack of it for the health and wealth of an industry or organization. Profitability, productivity and market share need to be evaluated simultaneously in order to gauge the success of any operation or organization. This program introduces the market trends across the nation and various regions of the country. We will discuss the shift of the market and its impact on revenue, profitability, labor and training needs, marketing and strategic planning.
This program is based on the research report Market Share: Developing a Standardized Format for Calculating Market Share funded by ELECTRI International.
Following this course, participants will be able to:
• Identify emerging and local markets
• Discuss what has happened in comparable markets
• Discuss what is next for markets in the construction industry