ISM: Independent Studies

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Browsing ISM: Independent Studies by Author "Foo, Yong Quan."

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    Factors affecting Singaporean purchase intent of condominium in Bangkok, Thailand
    (University of the Thai Chamber of Commerce, 2023)
    Foo, Yong Quan.
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    University of the Thai Chamber of Commerce. International Business.
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    University of the Thai Chamber of Commerce. International School of Management.
    This study explores the factors influencing Singaporeans' intent to purchase condominiums in Bangkok, Thailand, and provides implications for businesses operating in the real estate sector. Data through a survey was collected, and different statistical analyses were used to look at the relationships between the variables, including multiple regression, ANOVA, and Pearson correlation. The results show that Singaporean buyers have a favourable attitude toward buying condos in Bangkok. Subjective norms, perceived behavioral control, perceived physical quality, financial accessibility, and supportive governmental policies all have an impact on this optimistic outlook. These elements significantly influence Singaporean buyers' intentions to invest in the condominium market in Bangkok. Several conclusions for companies in the real estate industry can be drawn from the results. First off, businesses have a huge opportunity to take advantage of Singaporean buyers' positive attitude. Businesses can increase the number of Singaporean buyers they attract and the likelihood that they will make a purchase by creating targeted marketing campaigns that highlight the advantages, worth, and distinctive characteristics of Bangkok condominiums. Second, businesses should concentrate on leveraging social influence in their marketing strategies after acknowledging the impact of arbitrary norms. Building a solid brand reputation, encouraging good word-of-mouth, and motivating happy customers to tell their friends and family about their experiences can raise the perceived value and desirability of the properties among Singaporean buyers. Third, it's crucial to arm customers with thorough information and assistance. Businesses can boost customer confidence and strengthen their intent to buy by giving clear and comprehensive information about the properties, providing individualized assistance throughout the buying process, and addressing buyer concerns. Fourthly, a significant factor affecting buyer intent is the physical condition of condominiums. To increase the perceived value and attractiveness of their properties to Singaporean buyers, businesses should prioritize high-quality construction materials, contemporary designs, and appealing amenities. Fifth, Singaporean buyers give financial accessibility a lot of thought. Increase affordability and appeal to a wider range of buyers by providing flexible financing options, working with financial institutions to offer attractive packages, and maintaining competitive pricing. Finally, even though the impact of government policies was not statistically significant, companies should continue to be aware of pertinent incentives and policies. Any benefits offered by governmental regulations, like tax breaks or waived fees, can be incorporated into marketing plans as extra selling points to draw in Singaporean consumers. In conclusion, businesses in the real estate industry can profit from the study's findings by taking the implications into account. Businesses can successfully target Singaporean buyers, increase their intent to buy condominiums in Bangkok, and succeed in this competitive market by capitalizing on the positive attitude, leveraging social influence, empowering buyers, prioritizing physical quality, addressing financial accessibility, and being aware of government policies.
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