Industry and Consumer Trends in Construction Company

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Table of Contents
Industry and Consumer Trends.............................................................................................3
PESTLE analysis......................................................................................................................3
Political..................................................................................................................................3
Social......................................................................................................................................4
Technology.............................................................................................................................4
Legal.......................................................................................................................................4
Environment...........................................................................................................................4
References.................................................................................................................................6

TITLE OF THE ASSIGNMENT 3
Industry and Consumer Trends
In a construction company, the more significant question is how a change impacts
their customers and their home purchase pattern. Technology is fast growing in current times.
It is important to understand if this affects consumer trends. Technology is useful in terms of
saving money and time. Innovation is the key to hold onto customers for a construction
company. Customers’ preferences have changed with time (Kingston et al., 2017). Modular
designs are the latest trend in home design. Prefabricated construction is also in the trend as it
is cost-efficient and saves both energy and time. Several parts of a home build offsite in
mass-production and afterward, it is assembled on the job site to complete the project. It is
usually cheaper for customers as they cannot control or compromise with materials prices.
Safety features are also in the trend now as people have become more aware of disasters and
accidents. Construction companies have to install basic safety features such as smoke
detectors, fire alarm, extinguisher, home automation locking system (Dusa et al.,2019).
Another significant change is seen in people who have been keener to perceive homes
and properties as investment opportunities. Of these, many people are willing to invest in
construction sites but at the same time the prices have gone up significantly. Therefore,
modular constructions have been the target of property investment. The recent trend also
shows that customers are no longer hiring a construction organization for both designs and
buildings. Green construction is also a key trend among consumers as the public is more
aware of the environment and renewable energy.
PESTLE analysis
Political
Several political factors impact Canberra Geocon’s sustainability in the market and its
profitability. Legal regulations and outline for heavy construction is one such factor.