Value-added services : impact of customer satisfaction in Hong Kong housing estates

Abstract

The property management industry develops with the real estate market which is one of the major economy contributors in Hong Kong. Since property management is considered as service-oriented industry, satisfying customers mean business successful. The goal of this research aimed at analyzing the impact brought by value-added services in current private housing market through assessing the customer satisfaction level. This research intended to analysis the relationships among value-added services, customer satisfaction and customer loyalty. The first part of the research comprises the introduction including background, aims and objectives, signification, scope and limitation of the study. Second part is the literature review that provides information on the definition, concept and theoretical framework of value-added services, services model, customer satisfaction and customer loyalty. Third part mentions the methodology of the research while the fourth part illustrates and analyzes the finding of the survey. Finally, it comes to the conclusion part that consists of comment of the finding result and provision of recommendation to property management company on how to enhance and pursuit customer satisfaction and customer loyalty. The business thus become success. The common survey tool that widely use in this research is questionnaire. All data are collected through questionnaire. Since the questionnaires are designed to evaluate residents’ view and how it affected residents’ satisfaction level towards value-added service, answer is designed in 5-point scale. The relationship between score and satisfaction is positive which refers higher score means high satisfaction level. Moreover, the concept of SERVQUAL Model is applied to testify whether respondents satisfy the service by comparing their perceived and expected value of value-added service under the idea of Gap 5. Result of the survey reflects that value-added service with high customer satisfaction level may gain customer loyalty only by positive word of mouth. Unlike the previous studies related to customer loyalty that causing customer re-purchase and higher profit return is the most important point. The research shows that value-added service may not bring high profit return to the property management company as not must respondents will re-consume the services. Although the satisfied catering service cannot make higher profit, the power of spreading out positive word of mouth should not be neglected. Catering service cannot make higher profit through residents’ re-purchase. However, it brings positive word of mouth and develops personal communication between residents and the property management companies. So it is suggested that the companies choose the most suitable and applicable value-added service so as to achieve some positive impacts such as profit return, positive word of mouth and improved resident relationship.