The most significant parameter that is likely to give long-term sustenance to the building materials industry in India is Urbanization, quite similar to what has been witnessed in China in the last decade. However, in the short and medium term, the sluggish and changing nature of demand is pushing building material companies to cope with:
Geometric increase in variety of products and product variants, driven by technology, calling for sharper segmentation of consumers and markets
Modus to target Specifiers and Intermediaries and influence them at the right time.
‘Complete Solutions’ approach adopted by many marketers in deference to consumer wishes, calling for wholistic marketing of a set of products to a set of pre-defined consumers rather than selling one line of products.
Increase in marketing alliances, calling for more sophisticated branding & targeting.
Rise in premium segment products, calling for companies to re-align product lines and marketing.
Unique and rising role of the influencer segment – requiring new modes of relationship building.
Identify upcoming projects in time over its life-cycle.