Consumer Decision-Making Styles of Condominium in Bangkok Metropolitan Region
||Consumer Decision-Making Styles of Condominium in Bangkok Metropolitan Region
||23rd Annual European Real Estate Society Conference in Regensburg, Germany
||Condominium is the most popular house in Bangkok today, therefore it is interesting to study this market. From the literature review, there are research on factors which influence in buying a condominium and on consumer decision making styles in some other products. However, there is no study in condominium decision making styles so far. Though the location is the most important factor that consumer decides first, but the location factor can be different depending on individual personal criteria. Therefore, this study refers to the research of Sproles & Kendall (1986) and others to find condominium consumer decision making styles apart from location factor. This research is on determining consumer decision making styles of condominium in Bangkok metropolitan area and analyzing clusters of the various style consumers. Research uses the customer styles inventory (CSI) of Sproles & Kendall (1986) to find the construct to make the questionnaire, then utilizes the Exploratory Factor Analysis (EFA) to find different styles. After that cluster analysis for classifying the group of condominium buyers is analyzed. A small sample of questionnaires has been collected in a pilot test to determine appropriate measurement indicators before collecting the online questionnaires. The aggregate of 198 sample survey is compiled. The finding from EFA are six condominium consumer decision making styles; (1) Novelty - Design consciousness style, (2) Perfectionism style, (3) Brand consciousness style, (4) Confusion from overchoice style, (5) Time - energy conserving style, and (6) Price consciousness style. In addition, the cluster analysis shows that there are four clusters of consumer. (1) “Investor cluster”, (2) “Real demand cluster”, (3) “Rookie buyer cluster” and (4) “Perfectionist cluster” where in each cluster has different demographic data, behaviors, and decision making styles. This research can benefit a condominium developer in designing the condominium product to fit with the consumer decision making styles and to manage sales and marketing of condominium project for success
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||Housing Economics & Housing Policy
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