Segmenting the Korean housing market using multiple discriminant analysis

Jae-Chan Kim, Dae-Ho Kim, Jae-Jun Kim, Jong-Suk Ye and Hyun-Soo Lee

Construction Management and Economics, 2000, vol. 18, issue 1, 45-54

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.

Keywords: Korean Housing Industry; Market Segmentation; Target Marketing Strategy; Multiple Discriminant Analysis (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (5)

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DOI: 10.1080/014461900370942

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