Innovative 2016 Trends for Construction and Manufacturing Industry

People’s choice for a lifestyle is every evolving. Especially, where they wish to stay at and what do they wish to purchase are two common behaviors that is linked to changing economic and social conditions. Both manufacturing and construction industry saw highs and lows in 2015, with landmark opportunities to scale new heights in 2016. There are several trends in these particular sectors, which could impact consumer behavior and the industry in itself this coming year.

These factors are based on changing customer preference, robotics & technology, security concerns, e-commerce & internet marketing, rise in commercial buildings, manufacturing plant construction, green initiatives, single-family apartments etc.  Here are some key trends in real-estate building and manufacturing industries.

Greater Employment Facilities

Expenditure on non-residential buildings in 2015 was about $360 million, which may increase in 2016 to $390 billion. This trend has decreased unemployment in housing industry. As per construction reports, more employees are required to fight labor shortages in new building projects. Be it on the site, headquarters, or warehousing of raw materials, manual force is needed as much as robotics.

Advanced Robotics

Technology has implanted its seeds in every market segment, including manufacturing and housing. Especially in construction, where labor force is needed at a great strength, the growing need of robotics is manifold here. And successfully, software and mechanics are developed to replace human force in several small and big activities. This trend is also true in manufacturing and production sectors.

Better Security Online

E-commerce has caught up with housing and manufacturing sector. While it were just the developed nations which utilized internet marketing, now developing nations, especially from Asia and Africa are also using this technique. In such a measure, security online has become important to protect against cyber crimes. According to Indian construction industry spectrum, manufacturing and real-estate companies are deploying modern cyber security methods to safeguard from online theft and hacking.

Go Green Efforts

The green building materials in U.S. market was worth &43.8 billion in 2014, and $40.0 billion in 2013. The recent construction reports state annual growth for U.S in 2014-2019 is 9.5 percent, and shall top $69 billion in forecast period. Consumers prefer green materials as these consume low energy, are eco-friendly, and sustainable items for a healthier home or office environment. These items perhaps a way bit expensive, are useful for a better lifestyle in many ways.

Strengths and Threats

As we have discussed about the major trends in housing and manufacturing industry for 2015-2016, it is important to note the strengths and threats to both these sectors. A challenge to real-estate is roping in young customers, especially from developing nations. In the Indian construction industry and that of the world, the purchase of houses is done by people over 60 or after 30. Trend for home upgrades and renovations are also leading the housing market.

·         With quality and facilities come greater spending. Thus, investment and money availability are both challenge and strength for real-estate and manufacturing segments.  People are now ready to pay for class services, yet many find it difficult to pay for the same.

·         Strengths in manufacturing and housing industry is greater outlets on the internet, making it easier to reach desired customers, more knowledgeable and skilled industrialists, use of technology in securing consumer needs, assisting the supply cycle.

How can India Efficiently Restructure the Defense Procurement Procedure?

The Prime Minister Modi led government is revolutionizing India since its inception. A lot many reforms are being planned for the defense industry. As per a report, in the next 5-7 years, the India Navy, Air Force, and Army is expected to replace or buy military equipment worth $200 billion or more. A greater than 150 million youngsters will be of working age in these many years.

More of Domestic Investment than Foreign Aids

It is a good time now to create job opportunities in ammunition and security devices related manufacturing sector. This shall assist making the ‘Make in India’ program a success. Though foreign investors could help accelerate the economy in terms of FDI, the needs of the soldiers and the end users must be kept in consideration before initiating any concrete reforms.

·        Be it the design or investment, Indian businessmen and people should be invited than foreign investors. This will help national capital and employment possibilities to increase till next decade, according to defense market research. Focus must be on developing ammunition and armaments from the country land itself than depending on imports.

·         Loopholes in laws should be eliminated to form strong policy measures in domestic manufacturing. Efforts must be directed to prevent scams. As depicted in defense industry reports, the lowest bidder who meets all the requirements will be given military equipment contract. But, other bidders could be considered under special conditions.

Need of Quality Equipments and Strategic Planning

All the products must meet the conditions set by Services Qualitative Requirement, and bidding is to be accepted under guidelines of Request for Proposal. The Cabinet Committee of Security must overlook all the manufacturing bidding for the defense industry equipments. The Quality Based Selection body has to ensure that only highly efficient weapons are accepted.

·         Another alternative could be involvement of members from parliamentary standing committee belonging to major political parties, Indian Space Research Organization, and India’s Special Forces. They will aid in checking and remodeling the ammunitions or products on timely basis.

·        The field employees like retired or existing military, navy, air force technical staff could be assigned a major role in assuring efficacy of defense procurement laws.  The defense market research experts think the laws must beat around weightages of each sector of the industry for organized planning.

·         Though India has strategic partnerships with 20 or more countries regarding the defense sector, it needs to also have a backup plan in case of emergencies. The terrorist attacks in South Asia have increased past many years, as found in many defense industry reports. A growing need of security must be kept in mind before taking steps in reworking on existing strategies.

7 Astounding Ways Technology has Revolutionized Market Research

Collecting information from sources and people has become the easiest task. The same was a time-taking process in traditional era, when to communicate; we had to wait for days and hours together. But, with technology, contacting others is a piece of cake. With boom of internet, electronic devices, and advanced analytics software, improvements are seen not only among common mass day-to-day life, but also the way companies function, especially market research firms.

Today, revolutionized techniques are used to obtain data for quantitative and quality research. These help in forming best strategies to optimize businesses. Be it a simple email, a telephonic call, text message, dropping customer feedback to speaking with industry experts, technology has changed the face of communication and research methods utilized for commerce. Here are 4 major ways how marketresearch technology is shaping businesses.

Accountable Data Collection and Analysis

New software prepared to collect and analyze data is flooding market. Now, organizations can look beyond traditional techniques such as interviews, focus groups, and paper surveys etc. With internet and other technologies (mobile communication), the researches can be surer about type of industry analysis tools, targeted audience in receiving quality feedback. Powerful data calculation and collection methods are helping to save on time, investments, increase market share, and understand consumers much better.

Social Media Taps Unfiltered Feedback

People of every age and business are present on one or the other social media platforms like Facebook, Twitter, Goggle+, LinkedIn etc. A large amount of market research data can be procured from these sources regarding customer responses, noting their experiencing and views about a company product or services. These platforms are excellent for creating campaigns, brand awareness, and reputation management. A complete monitoring of social media channels for a company can grant it enhanced ideas for SWOT, and future strategies.

Real Time Results in Seconds

We can know about consumers view in a matter of few seconds. Tools like Google analytics and others assist in observing demographical and segment wise customer behavior, happening in real time. With such market research technology, it has become effortless for companies to keep a track of what customers want, need, and improve upon factors, which the organization lacks. Also, this has bettered possibilities to speed the supply, and fulfill required demands of the audience.

Enhanced Customer Relations and Management

Earlier with traditional means scrutinizing consumers’ needs was a tidbit a difficult job, which required huge investment in manual labor for industry analysis. With advent of technology, companies can reach customers faster, and provide them class facilities/offers etc. This has eased management of researches, market flow etc. inputting greatly in business profits, and its life cycle.

Cross-platform for Launching Campaigns

The agencies will deploy resources on the internet and new software that will help introduce new campaigns and strategies to a larger audience. There would be tools designed to analyze what people think of their products and services, without having to physically visit each and know about their responses. Moreover, the companies will tap more such platforms and partner with other competitors to enhance their technological skill by providing some value benefit to each other.

Getting People to Engage Promptly

Brands will progress hugely with popularity gained by customers engaging in the offerings. This will be achieved by novel technologies prompting consumers to perform a certain action, be it related to sales, purchases, information etc. This will aid researchers in garnering more feedback, while increasing the amount of hot leads, which can be pursued to close the deal.

Sensory Inputs to Track Behaviors

As discussed, devices and technology to crack what people feel would be of greater stress in the future and even present. Sensory inputs of the customers will allow researchers to know what the audience perceives about particular competition, product, or services. This can have a great impact on a business. The company will be able to understand how to shape their strategies aligned to the responses.