1.6 understanding buyer’s preferences, S P SETIA will
1.6 Significant of the study The importance of this research is to figure out the major causes that navigate Malaysians to buy a property in Perak. It focused on home buyer’s purchase intention on a residential property in Setia Alam. These research studies contribute a level of knowledge to S P SETIA and to raise awareness on the buyers’ criteria before buying residential houses.
The descriptive research help the property developer to understand the preferences of Malaysian property buyers in terms of the choice of residential property investment, demographic preferences, and the property features that have been most preferred by property purchasers. Simultaneously, this study will provide an outlook of the general behavior and investment strategies of individual. By understanding buyer’s preferences, S P SETIA will be able to gain more understanding of their products and potential purchasers (Tan, 2011b). This study will also help individual and buyers in making decision in property investments by understanding the top features of properties that buyers considering when buying a property. Furthermore, this research is useful for S P SETIA.
Developers can understand the buyers’ wants and preferences before they launch any new projects. This research can help S P SETIA to capture many customers and prevent market share loss. One example is through looking how social influence variable influences their purchase intention on residential property in Setia Alam. Only reputable and good developers will create positive words of mouth and products produce by the developers may spread throughout the social circle of an individual that had purchased the property from the developers. This research enables S P SETIA to consider the factors that will influence buyers purchase decision in purchasing a residential property in Setia Alam. This research contributes to academic researcher (Tan, 2011b) who wish to understand the relationship between the customers purchase intention and the factors that affect the buyer’s purchase decision in buying a residential property in Setia Alam.
Throughout the research, students will gain more knowledge and information about the residential property in order to help understand the property market. Students will be able to understand more about property sector especially in Page 9 of 151 residential property. This research study also could be a guideline or references for other researchers who were interested to study more about the property market and related research areas. This research will help them to find out more about the purchaser decision in buying a residential property in generally. In Malaysia context, the Ministry of Housing has yet to take an initiative to raise the awareness and the study of the residential property throughout the whole nation (Tan, 2011b).
Therefore, with the help of this research, the ministry will be able to gain a comparative knowledge about the factors that led to purchaser decision in buying a residential property. The ministry can promote campaigns, events, seminar, talk and forums which able to raise the public awareness about residential property in general. In this study, the ministry can acts as a factor that influence the customer’s purchase decision in purchasing a residential property in Setia Alam which can help the developers to have a better understanding about the purchase attitude. This study will also help the developer to find the criteria purchaser looking when buying a dream house. Eventually it will help the developers to increase the sales when they can match the demands by the market. Furthermore, hopefully this research can provide more information’s for the students, future buyers, future researcher and many more. Looking at the trend, this research will find an appropriate reasons and trends of the purchaser particularly.
Lastly, the application of this research study provided great information to the marketer about customers purchase pattern in regards with the factor that influence their purchase intention on the residential property in Setia Alam. Thus, it places the marketer a huge obstacle to overcome which they need to spend huge amount of money for marketer to launch their property projects. Therefore, this research provided crucial information for developers to launch their housing projects. The marketer played a significant important role in raised information’s about the purchaser intention and factors they will considering when purchase a residential property. Beside than that, this study will find out whether amenities like schools, bank, medical centre, public transportation, and more will play an important role for purchaser to buy a property. With the booming of the property price and property developers getting more, is the property developer branding make any significant to this study.
This research will contribute to the future home buyer, developers, Ministry of Housing and future researchers. 1.7 Chapter Layout The body of the research consists of five chapters as following: In Chapter 1, there will be the research overview which acts as the synopses of Chapter 2, 3, 4, and 5. The initial introduction of the research project which is relevant to purchase intention in residential property is included.
Besides this, the research background in the problem statement and the research objectives, research questionnaire and significant of the study are further discussed. In Chapter 2, the introduction and review of the relevant literature about the context will be discussed. Moreover, the review of the relevant theoretical models is needed and the conceptual framework will be recommended for further study. Therefore, relevant hypotheses will be developed and finally conclusion of Chapter 2 will be drawn.
In Chapter 3, the research design will be specified. Furthermore, the data collection methods will be discussed. Subsequently, sampling design and construct measurement will be discussed. Besides that, data preparation process will be described and data analysis that states the program used to analyzed the data is discussed. Ultimately, there will be the conclusion for Chapter 3 by providing a summary of the major themes addressed in the chapter. In Chapter 4, there will be the descriptive analyses that further discuss the respondents’ demographic profile and central of tendencies measurement of constructs.
Besides that, inferential analyses are included as it is important for examining the individual variables and its relationship with other variables. Lastly, conclusion of Chapter 4 will provide the linkage for next chapter. In the Chapter 5, it provides the introduction as a linkage to the main themes of the previous chapter and outline of the aim and organization of the Chapter 5. This chapter will provide the summary of the statistical analyses of the entire descriptive and inferential analyses. Moreover, it also includes the discussions of the major findings to validate the research objectives and hypotheses.
The implications of study which includes the managerial implications provide the practical implications for policy makers and practitioners. Finally, the limitation of the study will be discussed. 1.8 Conclusion In research background, we discuss about the development and current trend of property offered by developer and purchaser buying intention specifically in Setia Alam. Problem statements are discussed in the next section regarding the problems or limitation of previous studies in residential property particularly. Next, we will discuss about the research objectives.
There are one broad objective, and three specific objectives in this research. Three research questions and four hypotheses have been discussed. Lastly, we discuss the significant of this study.
This research is important for manager, employees, customers, and further researchers to enhance the residential property in Setia Alam and Malaysia particularly because when the property developer want to launch a new development, this research can become a guide to them.