75 / 89
МОНГОЛЫН ХҮН АМЫН СЭТГҮҮЛ Дугаар (367) 20, 2011
74
INFORMATION SOURCES AND DECISIONS FOR HOUSING
PRODUCTS AND SERVICES: A EXAMINATION IN THE EMERGING
MARKET OF MONGOLIA
Burmaa Jamiyuansuren, MBA
Lecturer, Ider University, Mongolia
Dana-Nicoleta Lascu, Ph.D of International Marketing Head of Marketing Department of
Robins Business School at University of Richmond, USA
Abstract
This research study considered Mongolian housing products and services based on the population
of Ulan-Bator capital city and its influence on consumer market. The present study attempts to assess
government and the real estate industry approaches in order to provide and market housing for a rapidly
increasing urban population in the capital city and to relate consumer aspirations. The study also examines
the extent to which consumers seek information from various service providers and other promotional
and relational sources of information for their housing search process. We took survey from total of 500
individuals, which attempted to illustrate how consumers approach information sources, utilize related
services, and make decisions on house ownership. The survey also reveals that some customers value
comfort, design, reputation and reliability of the construction company while the others consider price and
mortgage interest rate more in their decision making.
KEY WORDS: Marketing housing, consumer aspirations, sourves of information, 40, 000 Family
Housing, dwelling owned, more rooms individuals, fewer number of rooms, minimal concern, to rely on
price, real estate services
INTRODUCTION
For over two decades, Mongolia
has experienced an unprecedented degree
of economic, political, legal, and social
transformation: since the demise of
Communism in the 1990s, the process of
transition to a market economy, privatization,
reform, deregulation, and foreign direct
investment have fully changed the Mongolian
housing landscape and the overall effects of
transition to a market economy in terms of
aggregate economic growth have been most
pronounced in the capital city, Ulaanbaatar.
The present study attempts to assess the
Mongolian government’s and the real
estate industry’s approach to providing and
marketing housing for a rapidly increasing
urban population in Ulaanbaatar, and to
evaluate related consumer aspirations. The
study also examines the extent to which
consumers seek information from various
service providers and other promotional and
relational sources of information in their
housing search process.
The next section offers an overview of
economic development in Mongolia in light
of its rapid transition to a market economy,
and its rapid economic growth fueled by
the mining industry. The section following
addresses the builders’ considerations for
developing housing for the Mongolian
population, their branding strategies, and
their use of service providers to communicate
their strategies to consumers. Following, we
present a study where we address consumer
aspirations and sources of information used in
the process of their home purchase decision.
Finally, we offer insights into strategies
that the government and firms involved in
housing development could use in the process
of addressing the housing needs of working
consumers.
LITERATURE REVIEW
Background
Housing policy is becoming an
important consideration for the government