Customer Satisfaction in Chinese Realty

Paper Summary:

In recent years, researchers have contributed different causes as responsible for the success of a country's economic system, and as a result, differing models for economic growth suggest multiple possible paths for success. The world is changing fast, and China is now an important part of the global economy. One of the aspects most notable in China's economy is the rapid growth of the real estate industry. To date, while there has been much research conducted in marketing and customer satisfaction in general, the research concerning customer satisfaction in Chinese realty is lacking. New research studies in this area must focus on whether or not it is suitable to implement customer satisfaction into the current real estate industry in China. This research focuses on two studies measuring customer satisfaction in the real estate industry, discuses the implications of the data results, and offers recommendations toward much-warranted improvements in this area, if China is to continue at its current intense growth pace.

Abstract
Executive Summary
Introduction
Statement of the Problem
Literature Review
Background and Methodology of Proposed Research
Design
Proposed Data
Collection
Research Findings
Future Research
Conclusion
Bibliography

From the Paper:

"In recent years, the value of Chinese realty has undergone many changes and periods of substantial growth unprecedented by previous growth patterns. As a result, one could theorize that real estate consumers' expectations and requirements have increased as a result of this heightened growth. To date, while there has been much research in marketing and customer satisfaction in general, the research concerning customer satisfaction in Chinese realty is lacking. Research such as this is crucial in determining whether or not it is suitable to implement customer satisfaction into the current Chinese realty business. Customer satisfaction is an essential factor in marketing practice, as satisfaction is a person's feelings of pleasure or disappointment resulting from comparing a product's perceived performance (or outcome) in relation to his or her expectations (Kotler, 2003). According to Drucker (1954), the principal purpose of a business is to create satisfied customers. Similarly, increasing customer satisfaction has been found to lead to higher future profitability (Anderson et.al., 1994). In order to maintain this substantial growth in Chinese real estate, customer satisfaction must be increased, or at the least, maintained. Research by Rust et.al (1997) supports this standard by relating lower costs to defective goods and services. Due to the increasing competition existing in the Chinese realty business, customer satisfaction has become one essential point from both the customers' goodwill perspective and an organization's profits."

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