Buyer Behaviour

BUYER BEHAVIOR

ASSESMENT TASK 1 – INDIVIDUAL REPORT

Student: Carlos E. Hurtado G

Student Number: S0222034

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Executive Summary.

Table of contents

1. Introduction

2. List of 5 accommodation options

3. Introduction respondents- tabulation of the rankings – summated discussion of each choice

4. Analysis of participant responses using theory

4.1 Motivation Respondent 1

4.2 Motivation Respondent 2

4.3 Motivation Respondent 3

4.4 Values Respondent 1

4.5 Values Respondent 2

4.6 Values Respondent 3

4.7 Self and self identity Respondent 1

4.8 Self and self identity Respondent 2

4.9 Self and self identity Respondent 3

5. Comparison of theoretically based differences between respondents and their rankings

6. Recommendation

1. Introduction.

Buying or Renting House is an important decision. The process of choosing accommodation involve elements such as: Values, level of motivation, perceptions, desires that could defined as internal elements (Bloemer and Dekker 2007). External characteristics as size of the house, life style and demographic factors also playing an important role at the moment to make a decision. In this assessment will analyse the process of choosing accommodation to three (3) people from point of view of Motivation, values and Self that each respondent manage and as these having influence on their decision.

To develop the study, the people selected will have the opportunity to choose five different alternatives (housing types) in order to their preference. These people will be interview using a survey as research method. These survey include questions about demographic characteristics, preferences, motivations and personality factors which objective is determined the reason of choosing using theory of decision making (Motivation, Values and the self) and supported by theoretical literature.

Finally, using the information of the research will select one type of housing and will develop a marketing strategic for her (To develop this point, we will take into account the preferences one the respondents).

2. List of (five) 5 accommodation options

For develop to the research, the people interviewee had the possibility to choose five (5) accommodation types in order to their preferences. The options were the following:

• Option No.1:

Buying Villa House (Suburb):

Ubication: Runcorn, Fruit grove (South Brisbane)

Cost $ 460,000 (realstate.com.au 2012a)

Property Description

• Property Type:House - villa

• Bedrooms:3

• Bathrooms:2

• Land Size:288 m² (approx)

• Indoor Features

• Ensuite:1

• Ducted Cooling

• Outdoor Features

• Garage Spaces:1

• Water Tank

• Greywater System

• Option No. 2:

Buying economy Restore house (Suburb):

Ubication: 8 Ellen Stree, Albion,QLD 4010

Cost $ 300,000 (realstate.com.au 2012b)

• General Features

• Property Type:House

• Bedrooms:2

• Bathrooms:1

• Land Size:529 m² (approx)

• Indoor Features

• Floorboards

• Outdoor Features

• Garage Spaces:1

• Option No. 3:

Renting Apartment in the City:

Ubication: Unit 5,16 St James Street, Brisbane

Cost $ 2,300 x month (realstate.com.au 2012c)

Property Description

Accommodation - The apartment displays city views from the rear balcony, from the front verandah enjoy a pleasant leafy street view. The apartment has a thoughtful floor plan with a well proportioned living area and separate kitchen. The bedroom is a good size, pretty windows open to a leafy outlook. The kitchen, with gas stove, and the bathroom are well maintained in an original condition.

Features - Ornate ceilings, cornicing, picture rails and timber flooring are only a few features which make this unit such a delightful...show more

• View Sold Properties for this Location

• View Auction Results

• General Features

• Property Type:Apartment

• Bedrooms:1

• Bathrooms:1

• Outdoor Features

• Open Car Spaces:1

• Option No. 4:

Buying luxury house in Eagle Farm:

Ubication: 66 Zillman Road, Hendra, QLD 4011

Cost $995,000 (realstate.com.au 2012d)

Property Description

• Bedrooms:3

• Bathrooms:2

• Land Size:776 m² (approx)

• Indoor Features

• Study

• Outdoor Features

• Garage Spaces:2

• Swimming Pool – Inground

• Option No. 5:

Buying Apartment in the City (Festival Towers):

Ubication: 108 Albert Street Brisbane City, Qld 4000

Cost $499,000 (realstate.com.au 2012e)

Property Description

-2 large bedrooms with built-ins, master with en-suite

-Gas stainless steel appliances in well equipped kitchen

-Alfresco dining with floor to ceiling glass

-Ducted air-conditioning through out

-Same level storage cage

-One Car space

• General Features

• Property Type:Apartment

• Bedrooms:2

• Bathrooms:2

• Building Size:86.03 m² (9 squares) approx

• Indoor Features

• Air Conditioning

• Outdoor Features

• Garage Spaces:1

• Swimming Pool - Inground

3. Introduction of the respondents- tabulation of the rankings – summated discussion of each choice

To understanding the way as the survey was develop, this section made a summary about questions and their objectives into account Motivations, Values and Self for each one of the respondents.

In the section No. 1 (Questions 1 to 13) the respondents were request to supply information about age, gender, level of education, level of income, household type. The summary of information is showed in table I.

Demographic characteristics table I.

Characteristics Respondent 1 Respondent 2 Respondent 3

Name Kris Colgate Melissa clarck Siyi Li

Age 40 65 22

Status Single Married Single

Religion Catholic – No practising Catholic No religion

Type of occupation Manager Retired Student – part time job

Level of education Bachellor degree in business High school Bachellor degree in accountant

Level of income Between 10.000 – 15.000 Between 5.001 – 8.000 Between 3.000 – 5.000

Family life cycle Single person with no dependents Couple with no dependents Single person with no dependents

Social Class Upper medium class Medium Class Medium Class

Nationality Australian Austraian Chinese

The question No. 14 made reference type of housing that the respondent prefers. In the inquiry the respondent have the possibility of ranking the different fine options in order to their predilections. (1 – very high preference, 2- high preference, 3- Moderate preference, 4- Low preference, 5- very low preference). The results are condensed in table II.

Ranking of the five (5) accommodation options table II.

Accomodation Respondent 1 Respondent 2 Respondent 3

Buying New House (Type villa) 3 1 3

Buying Economic house (Suburb) 4 2 5

Renting Apartment in the City 5 5 1

Buying Luxury house in Eagle Farm 2 3 4

Buying apartment in the City 1 4 2

In the question No. 15. The respondents were request classifying in order of preference Housing attributes. The question looking identified in order of importance their influence in the moment make decision about buying or renting house. (5 – very high impact , 4- high impact, 3- Moderate impact, 2- Low impact, 1- very low impact). The results are condensed in table III.

Ranking of Housing Attribute table III.

Housing Attribute (Redd, Mills 2007, p.p 236-237) Respondent 1 Respondent 2 Respondent 3

Economical Factor (Mortage interest, Householh income, House price) 5 5 5

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