Empirical Research On Impact Of Customers’ Perceived Value On Purchase Intention In Housing Market

With acceleration of urbanization in our country, the state is trying to transform the real estate development model with "land" as the core into a development model with "people" as the core. Under the guidance of the new development model, the central government will implement a series of reforms targeted at the healthy development of the real estate market instead of passive "regulation and control" so as to shift the real estate from investment orientation to consumption orientation and from land focus to product focus. Meanwhile, with the increase of average personal income, customers’needs become more and more diversified and personalized. For the basic need of residence, they are no longer contented with the minimum requirement of dwelling; instead, they have began to consider whether the residence can bring them all the value required. Whether they live in the houses themselves or such houses are used for investments, customers no longer follow suit blindly; instead, they are rational to treat them according to the market conditions and their own needs. However, the final test lies in customers, that is, an enterprise must provide the products attractive to customers. To put it in another way, only when an enterprise can provide value customers need and satisfy customers’need, can customers be willing to buy these products. This requires real estate enterprises to change the traditional thoughts of operating, pay attention to the national policies and customers’ mental feelings and dig up customers’perceptive value factors so that customers’ needs can really be understood and satisfied, while the enterprises should develop scientific reasonable marketing strategies accordingly to achieve the ultimate objective to increase the enterprises’ profits.The thesis is set in the development of the real estate market, with the empirical study methods employed to study influences of customers’ perceptived value on purchase intention in housing market. To begin with, literature review related to consumption theories of housing market, perceptived value theories and purchase intention theories are given. Dimensions of customers’ perceptived value of residences are divided after the study of literatures. On the basis of this, combination of customers’ perceptived value with purchase intention of residences forms the theory model of influences of customers’ perceptived value on purchase intention in housing market. According to this model, research hypothesis is further proposed.Then, with potential consumers of Hefei as samples, questions of questionnaires are designed based on use of Chinese and overseas scholars’research findings for reference and in combination with opinions of related employees, data is obtained through distributing questionnaires in the field and by on-line questionnaires. SPSS data analysis software is used to give a descriptive analysis of, reliability and validity analysis of, factor analysis of, correlation analysis of and regression analysis of data, testing the constitutional dimensions and the influences of each dimension of consumers’ perceptived value on purchase intention in housing market. The main conclusions are as follows:consumers’ perceptived value in housing market consists of such four dimensions as functional value, economic value, psychological value, and sentimental value; functional value, psychological value and sentimental value positively affect purchase intention greatly while economic value has insignificant influences on purchase intention.Finally, some marketing suggestions are made for real estate enterprises according to the results of the empirical analysis, which are practically and theoretically significant for enterprises to market their products and make profits better. Confronted with changes in customers’ psychology of purchasing houses and house-purchase needs in the customer-oriented market, only if enterprises continue to understand values customers need, can they be better targeted to gain the ultimate competitive advantages in the increasingly competitive market.