Application of product differential semantics to quantify purchaser perceptions in housing assessment

In this paper we analyze the customerʹs emotional response to real estate promotions by using Kansei Engineering techniques. This methodology allows us identify the main independent concepts or attributes which describe the purchaserʹs perception of a specific property expressed in his own words. These attributes are ordered according to their influence on the overall opinion in order to quantify their relative importance. In this way, a quantitative model for predicting an overall assessment from symbolic attributes can be obtained. The method provides a quantitative way of predicting the success of a specific property on sale by evaluating the main factors that condition it. Moreover, a detailed comparative analysis of the strengths and weaknesses of different competing properties can be made. A field study was carried out in order to demonstrate the method. A sample of 155 subjects participated in the study and they evaluated 112 urban flats in the city of Valencia (Spain). By using differential semantic techniques we have identified 15 principal factors that characterize customerʹs perceptions. After obtaining the consumers’ semantic structure, the relationships between the subjects’ emotional response and overall evaluation in terms of the purchase decision was established. The usefulness of this method is shown through the semantic profiles of two properties not included in the above analysis. These profiles explain the differences in overall customer preferences and justify their position in the market analyzed.