A Look into Poor Marketing Strategy on the Issue of Abandoned Housing Projects in Malaysia

Abstract

The issue of abandoned projects is something very common that is happening around the world. It is considered a serious issue, which paints a negative image of the country’s construction industry, and is an absolute downfall of the country’s economy as well. Due to this issue various causes and effects have been studied and identified by researches worldwide. This is also the same for Malaysia, and steps have been taken to overcome this issue. At the moment most of the abandoned projects in Malaysia are in planning and in the process of revival. From the many causes identified pertaining to this issue, improper management of its other contributing causes has been highlighted as the main cause, where this paper focuses on one of the contributing causes among others, that is, poor marketing strategy. Poor marketing strategy contributing to noneffective sales of property is known to have an understandable impact on the issue of abandoned projects in Malaysia. This paper also looks into the concepts and aspects of property marketing to know and to have a better understanding of property marketing. Apart from that, current statistics on the development of new projects, and also abandoned projects from the Ministry of Housing and Local Government are laid out here to have a proper outlook of the current situation of the construction industry as well. By conducting this paper, the aspects of property marketing along with the strategies were viewed and co-jointly its impact on projects. Lastly the lacking of a strategy is also considered to contribute to the issue of abandoned projects.