Kim, J C; Kim, D H; Kim, J J; Ye, J S and Lee, H S (2000) Segmenting the Korean housing market using multiple discriminant analysis. Construction Management and Economics, 18(1), pp. 45-54. ISSN 01446193
Abstract
The business environment of the Korean housing industry has changed recently from a supplier's market to a buyer's. Establishing and implementing proper marketing strategies has increasingly become an important part of the managerial process. This research attempts to offer a characteristics profile and a forecasting model that classify the housing purchase consumers into three groups: a single-family housing purchase group, an apartment housing purchase group, and a non-purchase group. These groups can be classified and predicted by using the discriminant function: a linear combination of demographic, socio-economic, and residential characteristics. Findings in this research can provide valuable information for future efforts in identifying distinct target segments of the Korean housing market.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Korean housing industry; market segmentation; multiple discriminant analysis; target marketing strategy |
| Index terms: | single-family housing, strategy, housing, forecasting, discriminant analysis, marketing |
| Subjects: | statistical analysis, management, prediction and forecasting, construction type, business |
| Topics: | Research Practice, Business Strategy, Construction Technology |
| Descriptive scope: | 3 PCA |
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