Improvement of Perceived Value of Apartment: Strategic Analysis Using IPA, SWOT, and AHP

Authors

  • Akhmad Ismail Binus Business School Master Program, Bina Nusantara University, West Jakarta, DKI Jakarta
  • Ignatius Nathanael Andika Binus Business School Master Program, Bina Nusantara University, West Jakarta, DKI Jakarta
  • Rahman Rahman Binus Business School Master Program, Bina Nusantara University, West Jakarta, DKI Jakarta
  • Roozbeh Babolian Hendijani Binus Business School Master Program, Bina Nusantara University, West Jakarta, DKI Jakarta

DOI:

https://doi.org/10.55324/iss.v2i8.437

Keywords:

Perceived Value, IPA, AHP, SWOT, Apartment

Abstract

Background: After the covid 19 pandemic subsided, the world was faced with a global recession. The property industry experiences a downturn, especially in countries that are severely affected by the recession. However, the property business, in particular, apartments must continue to run and require a strategy to overcome this.

Aim: The purpose of this study was to develop a strategy to increase perceived value using three methods of IPA, SWOT, and AHP.

Method: The quantitative method uses 130 customer respondents. 30 for the reliability validity test and 100 for the main test on perceived value variables (functional, social, and emotional).

Findings: The results of the IPA in quadrant A form the basis for making IFE and EFE strategies. IFE and EFE strategies are weighted to determine IFE and EFE matrices. Furthermore, a SWOT  matrix was carried out to formulate concrete strategies based on SO, WO, ST, and WT. Strategies will be ranked using AHP. The strategy includes renovating the roof and repainting the facade of the building, using higher quality and durable building materials, holding service training for tenant relations and optimizing cleaning team SOPs, making agreements with buyers regarding rules for repairing damage/leaks, promoting green and clean movements for owners or occupants, expanding the customer segment market, contacting unit owners to be managed by rental management developers, opening multiple payment platforms with marketplaces, continuing to do marketing to target customers, cooperating with sales agents and other external parties, and rescheduling those with payment difficulties.

References

Ahmad, S. N., Jinca, Y., & Kumala, Y. (2019). Konsep transportasi wisata pusat kota tua Makassar dan sekitarnya. Jurnal Transportasi Multimoda, 16(2). https://doi.org/10.25104/mtm.v16i2.965

Andrew, M., & Larceneux, F. (2019). The role of emotion in a housing purchase: An empirical analysis of the anatomy of satisfaction from off-plan apartment purchases in France. Environment and Planning A, 51(6). https://doi.org/10.1177/0308518X18817539

David, F. R. (2017). Strategic management: Concepts and cases, a competitive advantage approach (16th ed.). Pearson Education Limited.

Delloite Insight. (2023). 2023 commercial real estate outlook. Delloite Insight.

Kuo, Y. C., Huh, Y., & Hwang, B. G. (2022). A comparative analysis of residents’ satisfaction with apartment building management and maintenance services in South Korea and Taiwan. Quality and Quantity, 56(2). https://doi.org/10.1007/s11135-021-01134-6

Kusuma, A. P. A. A., & Shiratina, A. (2022). Effects of online promotion and personal selling on the purchase decision of the Cisauk point apartment during the pandemic. International Journal of Environmental, Sustainability, and Social Science, 3(2). https://doi.org/10.38142/ijesss.v3i2.292

Lee, S. W., & Xue, K. (2021). An integrated importance-performance analysis and modified analytic hierarchy process approach to sustainable city assessment. Environmental Science and Pollution Research, 28(44). https://doi.org/10.1007/s11356-021-15235-0

Lundgren, B. (2013). Customer-perceived value in residential developments: The case of Hornsberg Strand, Sweden. International Real Estate Review, 16(1). https://doi.org/10.53383/100162

Ma, H., Huang, S., Wang, M., Chan, C., & Lin, X. (2022). Evaluating tourist experience of rural homestays in coastal areas by importance–performance analysis: A case study of homestay in Dapeng New District, Shenzhen, China. Sustainability (Switzerland), 14(11). https://doi.org/10.3390/su14116447

Patrick, V. M., Atefi, Y., & Hagtvedt, H. (2017). The allure of the hidden: How product unveiling confers value. International Journal of Research in Marketing, 34(2). https://doi.org/10.1016/j.ijresmar.2016.08.009

Siahaan, E., Amalia Fachrudin, K., Linda Leonita Sibarani, M., & Muda, I. (2019). Evaluating customer perceived value of housing based on location factor and economic value. Problems and Perspectives in Management, 17(3). https://doi.org/10.21511/ppm.17(3).2019.16

Sun, Z. (2016). Building a new gap model based on the dual perspectives of customer value: A case study of development of a high-end business apartment. International Conference on Promotion of Information Technology (ICPIT 2016). https://doi.org/10.2991/icpit-16.2016.11

Xie, L., Chen, Y., Xia, B., & Hua, C. (2020). Importance-performance analysis of prefabricated building sustainability: A case study of Guangzhou. Advances in Civil Engineering, 2020. https://doi.org/10.1155/2020/8839118

Zauner, A., Koller, M., & Hatak, I. (2015). Customer perceived value—Conceptualization and avenues for future research. In Cogent Psychology (Vol. 2, Issue 1). https://doi.org/10.1080/23311908.2015.1061782

Zhao, S., & Chen, L. (2021). Exploring residents’ purchase intention of green housings in china: An extended perspective of perceived value. International Journal of Environmental Research and Public Health, 18(8). https://doi.org/10.3390/ijerph18084074

Downloads

Published

2023-05-25

Issue

Vol. 2 No. 8 (2023): Interdisciplinary Social Studies

Section

Articles

License

Copyright (c) 2023 Akhmad Ismail, Ignatius Nathanael Andika, Rahman, Roozbeh Babolian Hendijani

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with this journal agree to the following terms:

  • Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International. that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  • Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  • Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.