Identifying the Dimensions of ‘Technology Derived Value Proposition’ in Apartment Purchase Behavior: An Exploratory Factor Analysis Approach

Home > 2023, Vol. 14, No. 2 > Identifying the Dimensions of ‘Technology Derived Value Proposition’ in Apartment Purchase Behavior: An Exploratory Factor Analysis Approach

Published: October 15, 2023

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Authors

Devyani Sharma and Sandeep Singh

DOI Number
https://doi.org/10.15415/jtmge/2023.142003

Keywords
Real estate decision making, Data driven, Customer work behavior, Builder technology usage, Factor analysis, Principal component analysis, Technology imprint

Abstract

Background: Real estate decision-making is inherently multi-dimensional, increasingly shaped by the pervasive role of technology in modern consumption patterns. Technology-driven value propositions (TDVPs) have gained prominence due to their impact on customer behaviors, especially in apartment purchasing decisions. Despite existing literature on data-driven marketing, gaps remain in understanding TDVP dimensions and their measurement validity within the real estate context.

Purpose: This study aims to identify and validate the factors influencing technology-derived value propositions in apartment purchasing behavior through exploratory factor analysis (EFA). It integrates work behavior and technology-driven marketing insights to establish a comprehensive assessment of the phenomenon.

Methods: A structured questionnaire, informed by theoretical frameworks and expert opinions, was administered to a diverse sample of 425 participants (179 females, 246 males). Using principal component analysis with varimax rotation, EFA identified latent dimensions of TDVPs. Reliability and validity assessments of measurement items were conducted via SPSS to ensure data adequacy and factor dimensionality.

Results: Twelve key factors were identified as contributors to TDVPs in real estate decision-making. These included market orientation, AI-induced biases, customer work behavior, builder technology usage, and credit availability, among others. The analysis revealed significant correlations between these factors and their influence on shaping customer decisions, supported by high sample adequacy (KMO = 0.845) and significant Bartlett’s Test results (p < 0.001).

Conclusion: The study highlights the critical dimensions of TDVPs in apartment purchase behavior, emphasizing their theoretical and practical implications. It underscores the transformative role of technology in shaping consumer decisions and offers validated measurement constructs for further research and application in real estate marketing strategies. Future studies could explore additional dimensions, such as augmented reality and machine learning, to further refine the understanding of TDVPs.

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How to Cite

Devyani Sharma and Sandeep Singh. Identifying the Dimensions of ‘Technology Derived Value Proposition’ in Apartment Purchase Behavior: An Exploratory Factor Analysis Approach. J.Technol. Manag. Grow. Econ.. 2025, 14, 17-28

Identifying the Dimensions of ‘Technology Derived Value Proposition’ in Apartment Purchase Behavior: An Exploratory Factor Analysis Approach

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