Marketing Strategies for Smart Buildings

Abstract

Globally, there is a growing proportion of the need to optimize monitoring and facility management of new and existing built facilities. Smart buildings provide waste reduction to the environment, flexibility to facility users, and optimization opportunities to the owner. Several research projects explore the monitoring, management, and maintenance of smart buildings towards efficient facility management (FM). However, there is a lack of defined, effective, efficient, and successful marketing schemes for smart buildings. Furthermore, smart buildings utilize the different technological possibilities and advancements in the smart building business and impact relevant stakeholders such as clients, facility managers, and users. Therefore, the study aims to develop a marketing strategy for smart buildings. The study adopts an integrative approach as the underpinning theory. The study's methodology adopts a robust analysis of different market strategies for various building types in the construction industry. In addition, lessons are deducted from the building typologies, such as sustainable buildings, tall and green buildings. The proposed marketing strategy requires four defined phases: segmentation, targeting, positioning and differentiations. The marketing directions focus on activities, actors, and tools through a comprehensive, detailed, and interpretative literature review. The proposed adaptable market strategy integrates client and facility users, focusing on the main drivers for marketing smart buildings. Therefore, the study is significant for facility managers, developers, and facility users.