Building and testing dang nhap w88 product scale impacting on house-buyers satisfaction study on dang nhap w88 housing projects in Bac Lieu province

ABSTRACT:

dang nhap w88 research is based on dang nhap w88 theories of product and dang nhap w88 previous studies on factors affecting dang nhap w88 house-buyers satisfaction in order to build and test dang nhap w88 house product scale impacting on customer satisfaction in housing projects in Bac Lieu province. dang nhap w88 quantitative research method is adopted with dang nhap w88 CFA approach to confirm that dang nhap w88 scale model being available through previous studies really fits market data; and with dang nhap w88 multivariate liner regression analysis to explore dang nhap w88 casual relationships as well as dang nhap w88 impacts of factors affecting dang nhap w88 house-buyers satisfaction. dang nhap w88 findings indicate that there are three factors influencing on dang nhap w88 house buyersatisfaction in housing projects in Bac Lieu province in an increasing order, including: (1) house delivery & guarantee; (2) quality of home; and (3) customer service during dang nhap w88 buying process.

Keywords: House product scale, house-buyers satisfaction.

1. Introduction

Over dang nhap w88 years, dang nhap w88 real-estate market of Vietnam in general and of Bac Lieu province in particular has coped with difficulties. In detail, through dang nhap w88 inspection result, dang nhap w88 operation of dang nhap w88 residential business investment projects in Bac Lieu province showed: most of dang nhap w88 real-estate projects in dang nhap w88 province have had yet to be correctly executed in accordance with dang nhap w88 provisions of dang nhap w88 Housing Law, of dang nhap w88 Real Estate Business Law and other relevant guidelines (Nguyen Thanh Nhan, 2012). Hence, it is necessary to build and test dang nhap w88 house product scale impacting on house-buyers satisfaction. dang nhap w88 significance of dang nhap w88 study will be a scientific basis to support dang nhap w88 house investors in better understanding dang nhap w88 needs and desires of customers for house products; to contribute to sustainable development of residential real estate markets in dang nhap w88 province, and to make a positive impact on socio - economic development of Bac Lieu province in particular and dang nhap w88 country in general.

2. Theoretical basis and Research method

2.1. Theoretical basis

In terms of marketing, Philip Kotler et al (2003), and Richard Brookes & Roger Palmer (2004) divided a product into three levels: (1) dang nhap w88 most basic level was dang nhap w88 core product – consisting of dang nhap w88 problem-solving services or core benefits that consumers obtained when they bought a product; (2) dang nhap w88 actual products (or tangible products) - might have as many as five characteristics such as quality level, features, styling, brand name and packaging; (3) dang nhap w88 augmented products - any additional services and benefits built around dang nhap w88 core and actual products such as extended warranty, free installation, after-sales advices, ect.

2.1.1. Core housing product

+ Home Location: In dang nhap w88 Ph.D Dissertation submitted to Arizona University, J. Christopher Bitter (2008) quoted that: within a metropolitan area, dang nhap w88 location of a households residence conferred access to labor market opportunities and a variety of location-specific amenities such as good schools or a pleasant natural environment.

2.1.2. Tangible housing product

+ Quality of home: In dang nhap w88 seventh national home-buyer survey of dang nhap w88 Home Builders Federation (HBF) in dang nhap w88 United Kingdom, which has covered for 12 months and was just published in 2012, revealed that: house builders had reached new heights of customer satisfaction – 90% of respondents had been satisfied with dang nhap w88 overall quality of their new home, with 90% also saysing they would recommend their home builder to a friend (HBF, 2012).

+ Home features: Mastura Jaafar et al (2005) have built independent variable “home features” by 5 observed items (project type, price of house, built-up area/crowding, length of residency, and home ownership status). In term of dang nhap w88 observed item “built-up area/crowding”, Mastura Jaafar et al (2005) have raised dang nhap w88 hypothesis that size or built-up area of a house and crowding (dang nhap w88 square feet of floor space per person ih dang nhap w88 household) was dang nhap w88 important aspect of housing satisfaction.

On dang nhap w88 other hand, in a study, dang nhap w88 Commission for Architechture and dang nhap w88 Built Environment in dang nhap w88 United Kingdom (CABE, 2010) discovered “home features” such that: while dang nhap w88 number of rooms in a house was a relatively important consideration for people, dang nhap w88 size of rooms was significantly more important. dang nhap w88 research also showed that outside space and internal layout were important features of housing. dang nhap w88 survey of customer satisfaction also concluded that: for families, kitchens needed to be big enough to accommodate a table for meals and for all age groups as this was regarded as dang nhap w88 heart of dang nhap w88 house; in addition, dang nhap w88 home-buyers prefered to have rooms that could be used for a number of functions rather than a large number of bedrooms; Moreover, dang nhap w88 house should have more space for accommodating furniture and storage cupboards, etc (CABE, 2010).

+ Home Design: In a discussion on Customer satisfaction in home buiding, Zeljko M. Torbica & Robert C, Stroh (2002) found factors such as house design, house quality, and builder service performance to be dang nhap w88 key indicators of customer satisfaction.

+ Model Home Kit – a form of performing dang nhap w88 home packaging function: Sola Somade & Tunji Adegboye (2009) stated that: dang nhap w88 four main functions of packaging included (1) dang nhap w88 containment function, (2) dang nhap w88 protection/preservation function, (3) dang nhap w88 transportation function, and (4) dang nhap w88 information function. Besides, Francis Cherunilam (2010) claimed that: dang nhap w88 need to make packaging attractive and acceptable was obvious. These could be achieved by giving proper attention to packaging features like shape, design, size, surfacegraphics, colour schemes, labeling, etc. In other words, packaging is impacted by dang nhap w88 product shape, product design, and product size. A house is considered as a particular product due to its shape, size and design. Therefore, it needs dang nhap w88 information function of packaging as to provide all dang nhap w88 relevant details about dang nhap w88 house product and to help dang nhap w88 home-buyers to easily decide whether to buy a house (Kay Wiki, 2009).

2.1.3. Augmented housing product

+ Customer Service: dang nhap w88 survey result of dang nhap w88 Home Builders Federation (HBF) in dang nhap w88 United Kingdom (2012) showed that: 86% of home-buyers were very or fairly happy with dang nhap w88 service they received during dang nhap w88 buying process. Besides, in a report, dang nhap w88 Homeowner Protection Centre (HPC) in Canada (2011) found out that: at each commonly recognized interaction, dang nhap w88 builder could impact dang nhap w88 buyers satisfaction through exceptional customer service.

+ Home Delivery and Warranty: In a study in United States, dang nhap w88 National Association of Home Builders (NAHB, 2001) found out that: home builders had to focus on dang nhap w88 three important areas in order to satisfy dang nhap w88 home-buyers and watch dang nhap w88 customer satisfaction ratings go up: (1) delivering homes 100% complete at closing, (2) closing on time, and (3) providing responsive warranty service.

2.1.4. House-buyers satisfaction

Nigel Hill et al (2007) claimed that customer satisfaction was a relative concept. it was dang nhap w88 customers subjective judgement or feeling or attitudes they held about dang nhap w88 extent to which their requirements had been met by a supplier.

In details, Philip Kotler et al (2003) asserted that customer satisfaction depended on dang nhap w88 extent to which a products perceived performance matched a buyers expectation; if dang nhap w88 products performance fell short of dang nhap w88 customers expectation, dang nhap w88 buyer was dissatisfied; if dang nhap w88 performance matched expectations, dang nhap w88 buyer was satisfied; if performance exceeded expectations, dang nhap w88 buyer was delighted.

2.2. Research method

2.2.1. Research framework

Through dang nhap w88 literature review, dang nhap w88 research framework is proposed as following:

HomBSat. = f(F1, F2, F3, F4, F5, F6, F7); in which: HomBSat. (Home-Buyers Satisfaction) is a dependent variable; F1, F2, F3, F4, F5, F6 and F7 are independent variables. Picture 1:

2.2.2. Analysis method

Building and testing dang nhap w88 house product scale impacting on house-buyers satisfaction is carried out by 4 steps: (1) testing Cronbach's Alpha reliability coefficient for inspecting dang nhap w88 close inter-relatedness of dang nhap w88 observed items within dang nhap w88 scale; (2) applying Exploratory Factor Analysis method (EFA) to test dang nhap w88 influence factors and identify dang nhap w88 components that are considered to be consistent with dang nhap w88 level of home-buyers satisfaction; (3) applying Confirmatory Factor Analysis method (CFA) to confirm if dang nhap w88 scale model including factors available through previous studies or from dang nhap w88 predetermined theoretical models really fits market data in dang nhap w88 housing projects in Bac Lieu province; and (4) using dang nhap w88 multivariate linear regression model to identify dang nhap w88 influence factors as well as dang nhap w88 impact level of each factor on dang nhap w88 house-buyers satisfaction in dang nhap w88 housing projects in Bac Lieu province.

2.2.3. Data collection method

A survey was carried out during dang nhap w88 period of from July/2017 to August/2017 in dang nhap w88 typical housing projects being located in dang nhap w88 districts, township, and city of Bac Lieu province. dang nhap w88 stratified random sampling method was used in dang nhap w88 data collection. With dang nhap w88 5:1 proportion of dang nhap w88 observed items over dang nhap w88 measurement variables, it is equivalent to dang nhap w88 minimum number of 165 samples (33*5). Therefore, dang nhap w88 sample size of 200 is totally appropriate.

3. Research results

3.1. Scale testing

dang nhap w88 scales of 8 groups of factors have dang nhap w88 corrected item-total correlation greater than (0.3), and Cronbachs Alpha greater than (0.6). As a result, all of dang nhap w88 proposed factors have high reliability.

3.2. Exploratory Factor Analysis (EFA)

All of dang nhap w88 scales of dang nhap w88 proposed independent variables are simultaneously input to assess EFA with dang nhap w88 extraction method of principal component and dang nhap w88 rotation method of varimax. dang nhap w88 evaluation criteria are based on dang nhap w88 factor loadings and dang nhap w88 total variance explained (λ_imust 0.5), with dang nhap w88 consideration of convergence value and differentiated value of each observed item (dang nhap w88 difference of dang nhap w88 factor loading of an observed variable among other variables must = 0.3). After 10 times of assessing EFA, each unsatisfactory variable, which is eliminated in turn, is CusSer.5, HomQty.3, HomLoc.1, HomLoc.2, HomLoc.4, HomLoc.3, HomDes.2, MoHomKit.3, HomFea.2, and HomFea.1. dang nhap w88 final EFA is presented in dang nhap w88 table 3 as below:

3.3. Confirmatory Factor Analysis (CFA)

All of dang nhap w88 scales of dang nhap w88 proposed independent and dependent variables are simultaneously input to assess CFA. dang nhap w88 evaluation criteria of convergence value are based on dang nhap w88 standardized regression weights (λ_imust 0.5); and dang nhap w88 evaluation criteria of differentiated value of each observed item are based on dang nhap w88 correlation coefficients (r ≠ 1). After 02 times of assessing CFA, dang nhap w88 unsatisfactory variable, which is eliminated, is HomFea.3. dang nhap w88 final table of standardized regression weights is presented in dang nhap w88 table 4; dang nhap w88 table of correlations among variables is shown in dang nhap w88 table 5.

Picture 2: CFA testing results of product factors affecting home-buyers satisfaction

It is shown in dang nhap w88 picture 2 that most of dang nhap w88 assessment indicators used in CFA meet dang nhap w88 standard requirements. Hence, dang nhap w88 scale model is compatible with market data.

3.4. Regression Analysis

It is shown in dang nhap w88 table 6 that dang nhap w88 factors of independent variables are in fairly close correlation with dependent variabe. Therefore, these independent variables are input in dang nhap w88 regression model as to explain dang nhap w88 change of dang nhap w88 dependent variable.

After 04 times of analyzing dang nhap w88 multivariate liner regression, each unsatisfactory variable, which is eliminated in turn, is HomeFeature (sig.=0.536); ModelHomeKit (sig.=0.150); and HomeDesign (sig.=0.123). dang nhap w88 final result of dang nhap w88 multivariate liner regression analysis is presented in dang nhap w88 table 7.

dang nhap w88 regression equation by Beta standardized coefficients is presented as below:

Y = 0,475* CustomerService + 0,172* HomeDelivery&Warranty + 0,259* HomeQuality

4. Discussion and conclusion

dang nhap w88 result of dang nhap w88 multivariate liner regression analysis says that dang nhap w88 factors of home feature and home design have no or very little impact on home-buyers satisfaction in dang nhap w88 research conditions at dang nhap w88 housing projects in Bac Lieu province; although these factors have impact on home-buyers satisfaction through dang nhap w88 previous studies of Mastura Jaafar et al (2005), Zeljko M. Torbica & Robert C, Stroh (2002), etc.

On dang nhap w88 contrary, dang nhap w88 factors of customer service and home delivery & warranty have high impact on home-buyers satisfaction at dang nhap w88 housing projects in Bac Lieu province. This result represents dang nhap w88 consensus of dang nhap w88 research results of HPC (2011), HBF (2012), NAHB (2001), etc.

On dang nhap w88 other hand, dang nhap w88 factor of model home kit hasnt jet been explored to have an impact on home-buyers satisfaction at dang nhap w88 housing projects in Bac Lieu province.

5. Proposed solutions

Based on dang nhap w88 research results, dang nhap w88 recommendations are proposed as below:

In terms of dang nhap w88 element group of customer service:

dang nhap w88 investors and builders of housing projects need to enhance dang nhap w88 professional capacity for their staffs as to be in line with dang nhap w88 development trend of dang nhap w88 real estate industry within dang nhap w88 new era. Specially, dang nhap w88 investors and builders of housing projects need to concentrate on dang nhap w88 professional training and soft-skills such as communication skills, negotiation skills and sales skills towards dang nhap w88 staffs who frequently contact with customers.

In terms of dang nhap w88 element group of home quality:

dang nhap w88 investors and builders of housing projects should set out dang nhap w88 information transparency policy of dang nhap w88 condition of for-sale-house, as well as raise dang nhap w88 commitments on dang nhap w88 standard of finish of dang nhap w88 house so that home-buyers have more information of their house-to-be. Correspondingly, dang nhap w88 investors and builders of housing projects may achieve dang nhap w88 trust from home-buyers about dang nhap w88 quality of dang nhap w88 houses which are being bought. Moreover, in order to make dang nhap w88 information transparency policy of dang nhap w88 condition of for-sale-house and dang nhap w88 commitments on dang nhap w88 standard of finish of dang nhap w88 house “really transpicuous”, dang nhap w88 investors and builders of housing projects should publicise and frequently update information on their firms websites about dang nhap w88 house condition and status, dang nhap w88 construction progress of a house, dang nhap w88 quality and quantity of materials used to build up houses, etc.

In terms of dang nhap w88 element group of home delivery and warranty:

dang nhap w88 investors and builders of housing projects should frequently attend dang nhap w88 training programs about project management and/or dang nhap w88 in-depth themes about management of work progress, as well as frequently update dang nhap w88 scientific information of advanced technologies for application into construction works as to shorten dang nhap w88 construction time and improve dang nhap w88 quality of construction works. In addition, dang nhap w88 investors and builders of housing projects should set out dang nhap w88 housing warranty policies. This will not only build up more trust from home-buyers about dang nhap w88 quality of houses which are being bought, but also create a good reputation for dang nhap w88 company for dang nhap w88 quality of housing projects.

REFERENCE:

1. Francis Cherunilam. (2010). International Business: Text and Cases. (5edn), P.H.I, New Delhi.

2. Nigel Hill, Greg Roche & Rachel Allen. (2007). Customer Satisfaction: dang nhap w88 Customer Experience through dang nhap w88 Customers Eyes. Cogent, Great Britain.

3. Philip Kotler, Stewart Adam, Linden Brown & Gary Armstrong. (2003). Principles of Marketing. (2 edn), Prentice Hall, China.

4.Richard Brookes & Roger Palmer. (2004). dang nhap w88 New Global Marketing Reality. Palgrave Macmillan, Great Britain.

5.Sola Somade & Tunji Adegboye. (2009). 111 Questions and Answers in Packaging Technology. iUniverse, USA.

6. Commission for Architecture and dang nhap w88 Built Environment (CABE). (2010). Improving dang nhap w88 Quality of New Housing - Technical Background Paper. Retrieved on 14th/Nov/2012, from: http://webarchive.nationalarchives.gov.uk /20110118095356/http:/www.cabe.org.uk/files/improving-dang nhap w88-quality-of-new-housing.pdf

7.Home Builders Federation (HBF). (2012). National New Home Customer Satisfaction Survey. Retrieved on 08th/Nov/2012, from http://www.hbf.co.uk/fileadmin/documents/Customer_Satisfaction/Cust_Satisfaction_2012.pdf

8.Homeowner Protection Centre (HPC). (2011). New Home Builder Customer Service Best Practices. Retrieved on 22nd/Nov/2012, from: http://www.homeownerprotection.ca/site/home_owner_protection/assets/pdf/final_customer _service_best_practices_full_report.pdf

9. J. Christopher Bitter. (2008). Geography, Housing Prices, and Interregional Migration. Retrieved on 07th/Nov/2012, from: http://books.google.com.vn/books?id=nOrBvFEAhAkC&printsec=frontcover&dq=how+ price+influence+housing&hl=vi&sa=X&ei=xzmaUILJDKaTiQeosYD4Bw&sqi=2&redir_esc=y#v=onepage&q=how%20price%20influence%20housing&f=false

10. Kay Wiki. (2009). About Model Home Building Kits. Retrieved on 22nd/Nov/2012, from: http://www.ehow.com/facts_7707139_model-home-building-kits.html

11. Mastura Jaafar, Noor Liza Hasan, Osman Mohamad, & T. Ramayah. (2005). dang nhap w88 determinants of housing satisfaction level: a study on residential development project by Penang Development Corporation (PDC). Retrieved on 07th/Nov/2012,from:http://www.fppsm.utm.my/download/doc_view/73-dang nhap w88-determinants-of-housing-satisfaction -level-a-study-on-residential-development-project-by-penang.html

12. National Association of Home Builders (NAHB). (2001). Three Keys to Customer Satisfaction. Retrieved on 22nd/Nov/2012, from: http://www.toolbase.org/Best-Practices/Business-Management/3-Keys-Customer-Satisfaction

13. Nguyen Thanh Nhan. (2012). dang nhap w88 inspection results of real estate business projects within Bac Lieu city (in Vietnamese). Retrieved on 19th/Oct/2012, from: http://sxd.baclieu.gov.vn/tin-chuyen-nganh/lists/posts/post.aspx? Source=/tin-chuyennganh&Category=Nh%c3%a0+%e1%bb%9f+%26+Th%e1%bb%8b+tr%c6%b0%e1%bb%9 dng+B%c4%90S&ItemID=187&Mode=1

14. Zeljko M. Torbica & Robert C. Stroh. (2002). Journal Of Construction Engineering and Management/ July/August 2002. Retrieved on 10th/Nov/2012, from: http://www.engr.wisc.edu/cee/faculty/russell_jeffrey/022.pdf

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TÓM TẮT:

Nghiên cứu dựa trên các lý thuyết về sản phẩm và các nghiên cứu trước đây về các yếu tố ảnh hưởng đến sự hài lòng của người mua nhà để xây dựng và thử nghiệm quy mô sản phẩm nhà ở ảnh hưởng đến sự hài lòng của khách hàng trong các dự án nhà ở tại Bạc Liêu. Phương pháp nghiên cứu định lượng được thông qua với cách tiếp cận CFA để xác nhận rằng mô hình quy mô sẵn có thông qua các nghiên cứu trước đây thực sự phù hợp với dữ liệu thị trường; và phân tích quy hồi đa biến để khám phá các mối quan hệ bình thường cũng như tác động của các yếu tố ảnh hưởng đến sự hài lòng của người mua nhà. Các phát hiện cho thấy có ba yếu tố ảnh hưởng đến sự hài lòng của người mua nhà trong các dự án nhà ở tại Bạc Liêu theo thứ tự ngày càng tăng, bao gồm: (1) giao nhận và bảo đảm nhà; (2) chất lượng nhà; và (3) dịch vụ khách hàng trong quá trình mua.

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