Anderson Construction
Larry Anderson is President of Anderson Construction. The firm had been in business for almost five years when the housing industry crashed with the Wall Street debacle of 2008. Anderson had quickly become profitable in the building business, but it was a time when nearly everyone in the business was making profits as the industry was overinflated by a boom based on banking fees rather than real demand. To make a reputation, the company had invested heavily in the selection of a superior construction crew. Larry Anderson had followed a strategy of hiring only personnel with high levels of training and experience. This had given him the ability to be versatile. Anderson had prided itself on quality custom-home construction, but he had a few jobs in large commercial buildings and multifamily, multistory projects. His well-experienced staff of employees gave him the ability to take on a variety of construction projects.
By 2012 Anderson was one of the few firms left in town. Most construction firms had gone out of business trying to wait out the housing bust. Anderson remained afloat with a few good employees and very limited demand among a few individuals who were interested in building custom homes. Because Larry had invested in his personnel with better pay and continuous training for them, he still had many employees who stayed in touch with him. These employees were eager to go back to work for Anderson and were biding their time in one or more part-time jobs. Larry Anderson was not accustomed to doing marketing research. Because he started his business at a time when the artificial building boom was rising, he had what seemed like an endless supply of job opportunities on which to bid. The only research Larry had conducted during those formative years was exploration to find key personnel and to keep up with building materials and building code changes. Now, as Larry had only two custom home jobs in the queue, he began to worry about how he could find more work for his construction crews. He wondered if marketing research would be of any help.
1. Explain why you think Larry Anderson should look into doing marketing research or not doing marketing research?
2. Think about the components of a marketing information system. Which component/s would you suggest Larry Anderson use and why?