Social Media Marketing Attributes, Sandton’s Rental Market Brand Image, and the Millennials’ Rental Preference: An Empirical Study
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1
University of Johannesburg, School of Consumer Science, Departament of Marketing Management
2
University of the Witwatersrand (WITS), School of Business Sciences, Marketing Division
Submission date: 2021-06-04
Final revision date: 2021-08-17
Acceptance date: 2021-10-08
Publication date: 2022-03-17
REMV; 2022;30(1):34-52
HIGHLIGHTS
- social media marketing (SMM) attributes affect millennial consumers in rental housing market
- SMM attributes affect rental housing brand image
- rental housing brand image positively influence millennials' housing preferences
- technology plays an important role in rental housing searches and choices
KEYWORDS
TOPICS
E37 - Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and ApplicationsL85 - Real Estate ServicesR29 - Urban, Rural, Regional, Real Estate, and Transportation Economics: Household Analysis: OtherR20 - Urban, Rural, Regional, Real Estate, and Transportation Economics: Household Analysis: GeneralR00 - Urban, Rural, Regional, Real Estate, and Transportation Economics: GeneralR31 - Housing Supply and MarketsR30 - Real Estate Markets, Spatial Production Analysis, and Firm Location: General
ABSTRACT
A good image of millennials’ residential rental space is an important issue. This image can be impacted by the available telecommunication technology. Social media marketing can, therefore, be an important marketing tool to achieve it. Many studies have shown that a good brand image positively impacts brand preference. This study quantitatively investigated the impact of social media attributes of trendiness, entertainment, customization, information, interaction on Sandton’s rental market’s brand image, and the relationship between this image and millennials’ rental preference. Data were collected from millennials who have lived, live or intend to live in Sandton. Structural equation modeling was employed for data analysis. The findings of the study are that entertainment, customization, and information positively impact Sandton’s image and that trendiness and interactions do not. Also, the image of Sandton’s rental market has a positive influence on the millennials’ preferences as to rental housing. The outcomes will find application for both academics and management practice as will be shown below.