Internet business strategy for real estate company in Kuala Lumpur
List of Authors
  • Ezdihar Hamzah , Nursyareena Azlie

Keyword
  • Marketing Strategy, Digital Marketing, Real Estate and Kuala Lumpur

Abstract
  • In this borderless world, the property firms are looking forward to improve marketing strategy by using the internet as the marketing tool. The era of technology has pushed the real estate company in enhancing the technology to promote or enhance the marketing of the products and extend the knowledge to the public. This research aims to identify the platform of internet business strategy of real estate by property companies in Kuala Lumpur. The method to achieve the objectives in this study is by using quantitative analysis including descriptive statistic and Relative Important Index. The questionnaires are distributed to 10 selected real estate companies in Kuala Lumpur. The services and information of these real estate companies are discussed. Besides, the implementation of internet usage in the real estate business also explained. The findings show that real estate companies realized the importance of presence of internet for marketing tools in their company. The case study for this research paper is based on a study from 10 listed real estate company in Kuala Lumpur due to the majority of real estate companies is in Kuala Lumpur. This paper explores property firms in Kuala Lumpur’s practice of using the internet as a marketing tool in property sector to improve marketing strategy in this borderless world. The findings provided the industry with some insight to enhance the online marketing management strategy and as well as academics guidance about the use of information and communication technology in the property market. This study will give benefits to party such as academic and also industry of real estate in term of marketing goods and services.

Reference
  • 1. Abhishek, V., Jerath, K., Zhang, Z.J., 2016. Agency selling or reselling? Channel structures in electronic retailing. Manage. Sci. 62 (8), 2259–2280.

    2. Ansari, A., Mela, C.F., Neslin, S.A., 2008. Customer channel migration. J. Mark. Res. 45 (1), 60–76.

    3. Atanassova, I. and Clark, L. (2015), “Social media practices in SME marketing activities: a theoretical framework and research agenda”, Journal of Customer Behaviour, Vol. 14 No. 2, pp. 163-183.

    4. Aral, S., Dellarocas, C., & Godes, D. (2013). Introduction to the special issue —Social media and business transformation: A framework for research. Information Systems Research, 24(1), 3–13. https://doi.org/10.1287/isre.1120.0470.

    5. Aswani, R., Kar, A. K., Ilavarasan, P. V., & Dwivedi, Y. K. (2018). Search engine marketing is not all gold: Insights from Twitter and SEOClerks. International Journal of Information Management, 38(1), 107–116. https://doi.org/10.1016/j.ijinfomgt.2017. 07.005.

    6. Barenji, A.V., Wang, W.M., Li, Z., Guerra-Zubiaga, D.A., 2019. Intelligent E-commerce logistics platform using hybrid agent-based approach. Transport. Res. Part E: Logist. Transport. Rev. 126, 15–31.

    7. Bardhan, A., Jaffe, D. and Kroll, C. (2000), A Research Report: The Internet, E-Commerce and the Real Estate Industry, Fisher Center for Real Estate and Urban Economics, Berkeley, CA

    8. Bello, M.O. (2010), “The impact of information technology on estate management profession in Nigeria”, paper presented at the Osun State Mandatory Continuing Professional Development (MCPD) Seminar organised by the Nigerian Institution of Estate Surveyors and Valuers in collaboration with Estate Surveyors and Valuation Registration Board of Nigeria (ESVARBON), Osogbo.

    9. Creswell, J. (2014), Research Design: Qualitative, Quantitative and Mixed Methods Approaches, SAGE Publications, Thousand Oaks, CA.

    10. Crowston, K., Sawyer, S. and Wigand, R. (2001), “Investigating the interplay between structure and information and communications technology in the real estate industry”, Information Technology & People, Vol. 1 No. 2, pp. 163-83.

    11. Cooper, P. (2018), “Social media advertising stats that matter to marketers in 2018”, available at: https:// blog.hootsuite.com/social-media-advertising-stats (accessed 16 October 2018).

    12. Cohen, J., 1988. Statistical Power Analysis for the Behavioral Sciences (2nd Ed.). Hillsdale, NJ: Lawrence Erlbaum Associates.

    13. Chatterjee, S., & Kar, A. K. (2018a). Regulation and governance of the internet of things in India. Digital Policy Regulation and Governance, 20(5), 399–412. https://doi.org/10.1108/DPRG-04-2018-0017.

    14. Choi, T.M., He, Y., 2019. Peer-to-peer collaborative consumption for fashion products in the sharing economy: Platform operations. Transport. Res. Part E: Logist. Transport. Rev. 126, 49–65.

    15. Dwivedi, Y. K., Rana, N. P., Jeyaraj, A., Clement, M., & Williams, M. D. (2019). Re- examining the unified theory of acceptance and use of technology (UTAUT): Towards a revised theoretical model. Information Systems Frontiers, 21(3), 719–734. https:// doi.org/10.1007/s10796-017-9774-y.

    16. Dixon, T., Marston, T. and Elder, B. (2003), “E-business and the City of London Office Market”, Journal of Property Investment and Finance, Vol. 21 No. 4, pp. 348-365.

    17. Ford, J.S., Rutherford, R.C. and Yavas, A. (2005), “The effects of the Internet on marketing residential real estate”, Journal of Housing Economics, Vol. 14, pp. 92-108.

    18. Gwin, C.R. (2004), “International comparisons of real estate e-information on the internet”, Journal of Real Estate Research, Vol. 26 No. 1, pp. 1-23.

    19. Hagiu, A., Wright, J., 2015. Marketplace or reseller? Manage. Sci. 61 (1), 184–203.

    20. Heinen, J. (1996), “Internet marketing practices”, Information Management & Computer Secutiry., Vol. 4 No. 5, pp. 7-14.

    21. Javalgi, R. G., Radulovich, L. P., Pendleton, G. and Scherer, R. F. (2005) ‘Sustainable competitive advantage of internet firms: A strategic framework and implications for global marketers’, International Marketing Review, 22(6), pp. 658–672. Ministry of International Trade and Industry (2018) National Policy on Industry 4.0, Ministry of International Trade and Industry.

    22. Kaplan, A. M., & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons, 53(1), 59–68. https://doi.org/10. 1016/j.bushor.2009.09.003.

    23. Kamarulzaman, Y. (2011) ‘A focus group study of consumer motivations for e-shopping: UK versus Malaysia’, African Journal of Business Management, 5(16), pp. 6778–6784.

    24. Kwark, Y., Chen, J., Raghunathan, S., 2012. Platform or wholesale: different effects on retailers of online product reviews. Proc. ICIS 18 (4), 2012.

    25. Liu, W., Yan, X., Wei, W., Xie, D., 2019. Pricing decisions for service platform with provider’s threshold participating quantity, value-added service and matching ability. Transport. Res. Part E: Logist. Transport. Rev. 122, 410–432.

    26. Lu, Q., Shi, V., Huang, J., 2018. Who benefit from agency model: a strategic analysis of pricing models in distribution channels of physical books and e-books. Eur. J. Oper. Res. 264 (3), 1074–1091.

    27. Mangold, W. G., & Faulds, D. J. (2009). Social media: The new hybrid element of the promotion mix. Business Horizons, 52(4), 357–365. https://doi.org/10.1016/j.bushor. 2009.03.002.

    28. Malewar, T. and Smith, N. (2003), “The Internet revolution: some global marketing implication”, Marketing Intelligence & Planning, Vol. 21 No. 6, pp. 363-9.

    29. Mantin, B., Krishnan, H., Dhar, T., 2014. The strategic role of third-party marketplaces in retailing. Prod. Oper. Manage. 23 (11), 1937–1949.

    30. Ministry of International Trade and Industry. (2018). National Policy on Industry 4.0, Ministry of International Trade and Industry.

    31. Morgan Stanley Dean Witter