The home purchase process: Measurement of evaluative criteria through pairwise measures |
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Authors: | Jon B Freiden PhD Douglas S Bible PhD |
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Institution: | (1) The Florida State University, Florida, USA;(2) Old Dominion University, Norfolk, USA |
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Abstract: | Although the purchase of a home represents a sizable investment for the average family, relatively little consumer research
pertaining to the home purchase process has been reported. This investigation utilized Thurstone's Case V methodology to identify
key attributes used by consumers to make housing choices and to show how these attributes are perceived by consumers of different
tenure and socioeconomic status. The pairwise comparison analysis showed a strong preference for the attributes “safety and
security from crime” and “quality construction” by the respondents. In addition, the analysis revealed several important differences
in attribute preferences between former owners and former renters. Former home owners, for example, were more likely than
former renters to prefer school quality when it was pitted against several other attributes. Thurstone's Case V techniques
was found to be an effective method for measuring consumer preferences. Implications which focus on home product development
and marketing strategies are discussed. |
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