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Basis of Customer Preferences in Filinvest Subdivisions in Tanauan-batangas

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Introduction

Understanding customer preferences are very important when selling a product or offering service. This is because customers are the determining factor of how a successful a company becomes. When a client starts to tie-up with you they already have a definite set of expectations. These assumptions are based on their approach to you, your association and your production. They are formed through past experiences, and the involvement of others with whom the client interacts.

Bringing below expectations is clearly unacceptable, but in the situation of building loyalty, so is honestly satisfying customers, because they are getting nothing near what they expected.

If service levels exceed your expectations, you’re impressed, and if the service you receive meets your expectations you are satisfied.

Strategize a customer survey and make your customers feel respected. You will also have better understanding. But don’t ask for an assessment if you’re not planning to make changes. When you do make progress, tell your customers what you did from the results from their comments.

Customer surveys can inform you things you may not notice, not to mention human factors such as staff performance. Not everyone opposes when they are disappointed. Rather, they tell their friends about their bad experience and take their business elsewhere. Unless you take-charge to consult from your customers, you may never indentify where you are going wrong.

As well as asking for feedback, set up a customer contact programme to ensure you keep in touch with your clients. A good customer contact strategy will allow you to listen to your customers and tell them more about what you offer.

This thesis aims to study this problem in the form of a survey analysis from the perspective of buyers and study what the buyers feel about Filinvest Subdivisions marketing by studying the literature on the marketing of real estate. This paper aims to find out the customer preferences in choosing Filinvest subdivisions in Tanauan-Batangas an empirical analysis and with the help of the results.

It is aimed at finding out how Filinvest can improve its business. The survey analysis will study not only the degree of correlation but also the degree of significance of the customer preferences in Filinvest subdivision houses. Although the sampling of the empirical study is wide, it lacks in depth because the hypothesis in the empirical analysis are based on the findings in the literature.

It is impractical to identify revolutionary changes that have little or no relationship with literature. A case study research is also conducted to study the buying behaviour of the real estate products of Filinvest. In a case study, the research questions are set up with limitations according to the findings in former case study. With the help of an empirical analysis and the case study, this research will be achieved in terms of both of comprehensiveness and depth.

Review of Related Literature

Motivation for the research

This research was a research about the marketing of real estate. The marketing of real estate is also included in the marketing subject. The research will be conducted with the help of empirical analysis, which was based on literature on the marketing of real estate, testing the findings in the literature with the help of a questionnaire survey.

Objective of the research

The research was made to study people’s buying behaviour of Filinvest houses, more specifically; the customer preferences in choosing Filinvest subdivisions in Tanauan-Batangas. This research aims to find out what are the preferences that the buyers want in Filinvest houses, and to what extent these preferences are related with the awareness of customers in Filinvest subdivisions. The results of this research can help other real estate companies in the same market to improve their products or marketing strategies in order to achieve a better performance.

Presentation of the case company

Real Estate Markets in Philippines.

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2.2 Filinvest

60 years ago, Filinvest has diversified into a leading full-range property developer with strategic interests in high-growth industries. The name Filinvest has become synonymous with property development.

Filinvest Development Corporation or FDC, the holding company of the Filinvest Group, traces its origins to the consumer finance business in 1955. According to Andrew L. Gotianun, Sr. FDC is one of the Philippines’ leading conglomerates, with interests in real estate, banking and financial services, hotel and resort management, power generation, and the sugar industry. On June 2016, FDC had Php448.56 billion in total assets and stockholders’ equity of Php100.54 billion.

According to the establisher, Andrew L. Gotianun, Sr. FDC entered the real estate business in 1967 and since then, FDAC proven its mettle in a diverse range of real estate developments: residential subdivisions, shopping canters, central business districts, mid-rise and high-rise offices and condominiums, recreational farms, industrial estates, leisure clubs and information technology zones. – covering more than 2,500 hectares of land.

In the past years, FDC has a good record in the business industry. It has been known for the one of the trusted companies in the Philippines. Besetting by its allegiance to building the Filipino dreams, Filinvest has built homes for over 160,000 families. With each new endeavour, Filinvest continues to keep Filipino dreams, and making it possible for more Filipinos to acquire their first home, a lasting legacy or their most desired lifestyle.

Filinvest doesn’t only improve and develop their business, but it is also a way of helping other families to have their own property or house in an affordable and meritorious budget.

Real Estate Marketing

3.1 The study of consumer behavior

Consumer behavior is the study of individuals, groups, or an organization in the selecting, purchasing, using, and disposing of goods and services to satisfy needs and desires. Consumer behavior catechizes not only what behaviours consumers’ exhibit but also the reasons for those behaviors. On a macro level, marketers are interested in demographic shifts as well as society’s values, beliefs and practices that affect how consumers interact with the marketplace. On a micro level, consumer behavior focuses on human behavior and the reasons behind these behaviors. Thus, concepts drawn from psychology and sociology are prominently reflected in the consumer behavior literature. The following sections describe 2 these concepts as they are applicable to the development of an increased understanding of real estate decisions in a consumer behavior context.

According to I search services, Consumer behavior can be broadly classified as the decisions and actions that influence the purchasing behavior of a consumer. What drives consumers to choose a particular product with respect to others is a question which is often analyzed and studied by marketers. Most of the selection process involved in purchasing is based on emotions and reasoning. The aim of the marketing industry is to communicate companies’ offerings to consumers, clients, and the general public. Marketing professionals bridge the gap between companies and their consumers.

There are a lot of things that can affect consumers to buy products in real estate. One of these factors is family choice, and convenience to certain things like Jobs, and public markets. A lot of Filipinos are family oriented and they wanted to buy houses with the advice of a relatives or a family member, and it is very common to Filipinos. Some consumers bought a house because they wanted to experience new environment.

3.2 Real Estate marketing in the Philippines

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Preferences of Consumers

4.1 Location

According to Gregory Hamel, choosing a location for a new business is one of the most important decisions entrepreneurs make during the planning phase of launching ventures. The location of a business can affect many aspects of how it operates, such as total sales and how costly it is to run. Even home-based businesses and online businesses can be affected by location-dependent rules and regulations. Location is of utmost importance to businesses that sell goods or services directly to customers at brick-and-mortar establishments.

This is also a factor for the consumer to be considering in buying a property. Many consumers also regard on facilities, environments, the safety of the place, and the convenience to public markets. Filinvest subdivision has a good location for real estate business. It is one of the good factors that Filinvest had.

Filinvest subdivisions’ location is near Walter Tanauan and it is also convenient to consumers of Filinvest to buy products and services. The location of Filinvest has a strong extent to consumers of Filinvest subdivisions because it is near the companies in Tanauan.

4.1.1 Facilities

A good facility is very important especially in real estate businesses. Facilities managers are usually in charge of organising the security, maintenance and repairs of a certain building or facility. This protects consumers and their property from preventing on unauthorised access and ensures one’s building or facility meets legal requirements. According to Filinvest City updates, the facilities of Filinvest subdivisions has cemented its position as a premier Garden CBD of Metro South, commanding land values reaching P230k/sq.m net, representing up to 248% growth in land values over the last 5 years.

This translates to a more than 200% jump in accommodation values, from P9.2k/sq.m to P23.1k/sq.m. Filinvest subdivisions are improving through time and through the help of customers and consumers base on their preferences in choosing a property or a house.

Having a good facility can also provide a business some benefits. It not only provides the business a good feedback but it also give the company the increase of cost-efficiency of the business, It also manages health and safety requirements, it provides the increase of lifespan of your assets, and it monitor and maintain compliancy of the business.

4.2. Filinvest Activities

According to Filinvest developers, in order to have a good and maintained facilities and environment, they organized and conducted a seminar for the new consumers and existing consumers on how they can maintain their environment and facilities at their standards. This is also a way on how you can communicate and interact with your customers and how both parties can benefit with each other.

4.3 Quality

In a marketing industry, quality of a certain product is very important, not only it attracts consumers to buy your product, but it also define one’s company name. Having a good structure and a good quality in Real Estate Companies can result to a better feedback. Good-quality housing is a key element for ensuring a healthy village. Poor housing can lead to many health problems, and is associated with infectious diseases (such as tuberculosis), stress and depression. Everyone should therefore have access to good-quality housing and a pleasant home environment that makes them happy and content. Ventilations, lighting, disease vectors in the home, and overcrowding in homes, are some aspects of housing quality.

According to the International Organization for Standardization, In order to conserve or amend the quality of the offerings, businesses use two techniques, quality control and quality assurance. These two practices make sure that the end product or the service meets the quality requirements and standards defined for the product or the service. In addition to this, to maintain a good quality of a certain product, the Filinvest subdivision should not only focus on the facilities and environment, but they should also consider their consumers and how they behave inside the business. One should also provide rules and regulations for the business to grow and also to maintain their high norms. Both the consumers and company should work together for the benefit of each other.

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Basis Of Customer Preferences In Filinvest Subdivisions In Tanauan-Batangas. (2019, August 08). GradesFixer. Retrieved January 29, 2022, from https://gradesfixer.com/free-essay-examples/basis-of-customer-preferences-in-filinvest-subdivisions-in-tanauan-batangas/
“Basis Of Customer Preferences In Filinvest Subdivisions In Tanauan-Batangas.” GradesFixer, 08 Aug. 2019, gradesfixer.com/free-essay-examples/basis-of-customer-preferences-in-filinvest-subdivisions-in-tanauan-batangas/
Basis Of Customer Preferences In Filinvest Subdivisions In Tanauan-Batangas. [online]. Available at: <https://gradesfixer.com/free-essay-examples/basis-of-customer-preferences-in-filinvest-subdivisions-in-tanauan-batangas/> [Accessed 29 Jan. 2022].
Basis Of Customer Preferences In Filinvest Subdivisions In Tanauan-Batangas [Internet]. GradesFixer. 2019 Aug 08 [cited 2022 Jan 29]. Available from: https://gradesfixer.com/free-essay-examples/basis-of-customer-preferences-in-filinvest-subdivisions-in-tanauan-batangas/
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