A study on how the company Sino Group determines customer satisfaction in the residential leasing market of the property industry

Pao Yue-kong Library Electronic Theses Database

A study on how the company Sino Group determines customer satisfaction in the residential leasing market of the property industry

 

Author: Ho, Yuk-lan Julia
Title: A study on how the company Sino Group determines customer satisfaction in the residential leasing market of the property industry
Degree: M.B.A.
Year: 1996
Subject: Real estate business -- China -- Hong Kong -- Case studies
Consumer satisfaction
Sino Group (Hong Kong)
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Management
Pages: 90, [44] leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1240493
URI: http://theses.lib.polyu.edu.hk/handle/200/4887
Abstract: This paper is aimed to highlight the significance of requirements and expectations of customers and to explore how the company - the Sino Group can determine, and yet could exceed the customer satisfaction in the property industry. The Sino Group has emerged as one of the largest developers over the past ten years, and became one of the 33 constituent stocks of the revised Hang Seng Index since February, 1995. Motivated by its strong belief in Hong Kong's future, the Group has been growing steadily and acquiring land for development investing in all forms of real estate. Being one of the biggest landbank in Hong Kong, the Sino Group should focus her attention on customer expectation and satisfaction in order to adapt to such a rapidly changing market. The main hypothesis of this study is that 'Customer satisfaction will be determined by the expectation of the customers, and customer expectations will affect corporate performance in terms of customer satisfaction'. Variance in customer service and expectation will elicit changes in customer satisfaction, which will in turn affect the performance of the company, most directly through the revenue component of corporate performance. For instance, an improvement in customer service will generate an increase in customer satisfaction that will in turn result in higher revenues for the company. To provide superior value to customers, it is imperative that a comprehensive system should be developed so as to measure each point of customer's need and expectation. In this paper, data and information were collected via a well designed questionnaire, personal interviews on the pattern of renewals and non-renewals of tenancies. The principal dimensions of qualities under the R-A-T-E-R Model, that is, Reliability (R), Assurance (A), Tangibles (T), Empathy (E), and Responsiveness (R), has been used to describe and analyze the collected information of the survey. The findings revealed that tenant's expectation on the five service dimensions were significantly high, but only part of the service standard on 'Assurance', 'Empathy' and 'Tangibles' as provided by the company could meet with the customers/tenants' requirements. That is related to the product features, such as surroundings and environment, interior decoration and finishes, common facilities; and customer service such as courtesy and friendliness, appearance and presentation skill provided from the company/landlord's representatives. Nevertheless, the service dimensions on 'Reliability', and 'Responsiveness' were found unsatisfactory, in particular, reliability on promised service, responses to enquiries and complaints, and efficiency on repair service were not up to standard. In the property leasing market, the expectation of tenants will most often affect their decision making in choosing the right premises to lease or renewing their current tenancies with the landlord. Moreover, the keen competition of the property market has increased the pressure on landlords to offer more flexible and competitive rental package for their tenants in terms of new leases and rent renewals. On some occasions, landlords would upgrade their older premises in an attempt to secure current and prospective tenants, longer rent-free period/allowance for decoration purpose, or even rental reduction and extra lease renewal incentives to maximize their aim for tenant retention. Hence, it would be of vital significance that the company should try to fill up the gaps between their quality standard and tenants' expectations via a wide range of continuous improvement work. Recommendations in terms of five service imperatives were discussed in the last chapter so as to achieve full customer's satisfaction. In spite of the current political situation is so unclear, the Group has great confidence that Hong Kong will still become one of the most important financial and service centre, and the gateway to China. In order to pave its way for further development and investment in the property market, improvement works are inevitably necessary for the Company.

Files in this item

Files Size Format
b12404937.pdf 4.514Mb PDF
Copyright Undertaking
As a bona fide Library user, I declare that:
  1. I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
  2. I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
  3. I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.

     

Quick Search

Browse

More Information