A CRITICAL EXAMINATION OF PERSON PERCEPTION AND INTERPERSONAL FACTORS OF CULTURE IN CONSUMER RESIDENTIAL HOUSE PURCHASING BEHAVIOUR
Abstract
The research aims at pinpointing the core determinant of consumer residential house purchasing behaviour. The study presented a critical and detailed review of literature on consumer purchasing behaviour. The author reviewed the rapidly growing body of research in this area with particular attention to the period 2001 to 2023. The study was anchored on individualism – collectivism theoretical perspective as the framework upon which the work is built. The study revealed three basic domains of consideration in determining consumer residential purchasing behaviour which include personal (perceptual) consideration, economic consideration and socio-cultural consideration. The study asserted that the factors of socio-cultural consideration domain propel property value which exerts the greatest influence on both individual and group decisions on purchasing behaviour. Therefore, the paper concludes that consumer residential house purchasing behaviour is a function of consumer perception and interpersonal factors of culture as well as economic factors with interpersonal factors of culture taking the lead. Interpersonal factors of culture have been identified as all socio-cultural elements such as emotions, attitudes, values, preferences, belief, artifacts, behaviours shared as well as meaningful symbols represented in the pattern of life of a people that help them interpret, evaluate and communicate as members of a given society which both affect and describe their behaviour. The research also offered some recommendations with the view of improving investment decisions in real estate business.
Keywords: Consumer perception, residential house purchasing behaviour, interpersonal factors of culture and real estate investment.
Full Text:
PDFReferences
Appraisal Institute (2008). Appraisal of Real Estate. Chicago; Illinois.
Chandra, S. Verma, S. Lim, W.M. umar S., & Donthu, N. (2022). Personalization in personalized marketing trends and ways forward. Psychology and Marketing 39(8) 1529 – 1562.https://doi.org/10.1002/mar21670.
Chan, H. W., So, H. M., Tang, B. S. & Wong, W. S. (2008). Private space, shared space and private housing prices in Hong Kong: an exploratory study. Habitat International, 17, 336-348.
Connie, S. & Fernando,B. A. (2001). Motivation and perception factors influence buying home behaviour in Dilly, East Timor PRRES 7th Annual Conference.
El-Nachar, E. (2011). Design quality in the real estate market: clients’ preferences versus developers’ interests. International Journal of Architectural Research, 5(2), 77-90.
Ferraro, R. & McFerran, B. (2023). Interpersonal influences in consumer psychology. Cambrigde Universisty Press. https://doi.org/10.1017/9781009243957.013.
Eze, U. C & Lim, Y. Y. (2013). Indicators in the purchase of housing properties. Journal of Southeast Asian Research, 1-10.
Haddad, M., Judeh, M., & Haddad, S. (2011). Factors affecting buying behaviour of an apartment and empirical investigation in Amman, Jordan. Applied Sciences, Engineering and Technology, 3(3), 234-239.
Hanaysha, J.R. (2018). An examination of the factors affecting consumer purchasing decision in the Malaysian retail market. PSU Research Review: An international Journal. https://doi/10/1108/PRP-08-2017- 0034.
Joslin, A. (2005). An investigation into the expression of uncertainty in property valuation. Journal of Property Investment and Finance, 23(3) 269-285.
Kumar, C. P. S. & Priya, M. (2019).The role and perception of customer on buying behaviour towards real estate industry. International Journal of Recent Technology and Engineering (ISRTE), 84, 205-208. Doi 10.35940lirde.D1080.12848319.
Lim, W.M., Kumar S. Pandey, N. Verma D & Kumar (2022). Evolution and trends in Consumer behavior: Insights from Journal of Consumer Behaviour. Journal of Consumer Behaviour 22(1) 217 – 232. http://doi.org/10.1002/cb.218.
L. I. Ugwu & E. C. Onyeneje (2002). Foundations of industrial and consumer psychology. Enugu: Our Saviour Press Ltd.
Levy, D., Murphy, L. & Lee, C. C. (2008). Influences and emotions exploiring family decision-making processes when buying a house. Housing Studies, 23(2) 271-289.doi10.1080/02673030801893164.
Markus, H. & Kitayama, S. (1991). “Culture and the self-implication for cognition emotion and emotion”. Psychological Review, 98, (2) 224-253.
Marsella, A. Sartorium, N., Jablensky, A. & Fenton, F. (1985). Cross-cultural studies of depression: An overview. Taristock Press, London. 299-324.
Martin, I. (2006). A marketing perspective of private sector retirements housing and the effectiveness of the buyer behaviour of its purchasers’ Property management. Emerald Group Publishing Limited. 24(4) 383-396. 02637470610671613.
Misra, M. Katiyar G. & Day A. (2013). Consumer perception and buyer behaviour for purchase of residential apartments in NCR 6(1) 56-68.
Nicholls, S. (2002). Does open space pay? Measuring the impacts of green spaces on property values and the property tax base, College Station, TX, Texas A&M University, PhD dissertation.
Oloke, O.C., Simb, F.R. & Adesulu, A.F. (2013). An examinationa of the factors affecting residential property values in Magodo Neighbourhood, Lagos State. International Journal of Economy, Management and Social Sciences, 2(8) 639-643.
Opoku, R.A., & Abdul-Muhmin, A.G. (2010). Housing preferences and attribute importance among low-income consumers in Saudi Arabia. Habitat International, 34, 219-227.
Schwartz, S. (1990). Invidualism-collectivism: Critique and proposed Definements. Journal of Cross-Cultural Psychology, 21, 139-157
Sridevi, R. (2021). Factors influencing consumer house purchase behaviour in Chenna. International Journal for Pure and Applied Mathematics, 119(18) 3627-3637 http://www.acadepubl.eu/hub/
Triandis, (1995). Individualism and Collectivism. West View Press: San Francisco, C.A.
Qazzafi, S. (2020). Factors affecting consumer buying behavior: A conceptual study. ISRD – International Journal for Scientific Research and Development. 8(2) 2321 – 0613.
Xiao, Q. & Tan, G. (2007). Signal extraction with Kalman filter: A study of the Hong Kong property price bubbles. Urban Studies, 44(4), 865-888.
Yak up & Sevil (2011). An empirical study on the effect of the family factor on consumer buying behaviour. Asian Journal of Social Science, 7(10)53-62.
Refbacks
- There are currently no refbacks.
EKETE - INTERNATIONAL JOURNAL OF ADVANCED RESEARCH. Powered by Journalsplace.org