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Segmenting the Korean housing market using multiple discriminant analysis

Author

Listed:
  • Jae-Chan Kim
  • Dae-Ho Kim
  • Jae-Jun Kim
  • Jong-Suk Ye
  • Hyun-Soo Lee

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.

Suggested Citation

  • Jae-Chan Kim & Dae-Ho Kim & Jae-Jun Kim & Jong-Suk Ye & Hyun-Soo Lee, 2000. "Segmenting the Korean housing market using multiple discriminant analysis," Construction Management and Economics, Taylor & Francis Journals, vol. 18(1), pages 45-54.
    • Handle: RePEc:taf:conmgt:v:18:y:2000:i:1:p:45-54
    DOI: 10.1080/014461900370942
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    Citations

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    Cited by:

    1. Sang-Hoon Lee & Stephen Thomas & Richard Tucker, 2005. "The relative impacts of selected practices on project cost and schedule," Construction Management and Economics, Taylor & Francis Journals, vol. 23(5), pages 545-553.
    2. Huseyin Ince & Bora Aktan, 2009. "A comparison of data mining techniques for credit scoring in banking: A managerial perspective," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 10(3), pages 233-240, March.
    3. Qin Xiao & Donghyun Park, 2010. "Seoul housing prices and the role of speculation," Empirical Economics, Springer, vol. 38(3), pages 619-644, June.
    4. Quazi, Hesan A. & Khoo, Yee-Koon & Tan, Chin-Meng & Wong, Poh-Seng, 2001. "Motivation for ISO 14000 certification: development of a predictive model," Omega, Elsevier, vol. 29(6), pages 525-542, December.
    5. Lee, Tian-Shyug & Chiu, Chih-Chou & Chou, Yu-Chao & Lu, Chi-Jie, 2006. "Mining the customer credit using classification and regression tree and multivariate adaptive regression splines," Computational Statistics & Data Analysis, Elsevier, vol. 50(4), pages 1113-1130, February.

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