Browsing by Author "Arutinova, Anjelika"
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- The impact of social media on consumer buying behaviour in residential real estate in GeorgiaPublication . Arutinova, Anjelika; Fernandes, Paula O.; Gogichadze, AnnaThe real estate sector in Georgia significantly contributes to the country's Gross Domestic Product (GDP), with a consistently growing market size to GDP ratio. Against the backdrop of the highly competitive local market and the transformative influence of technological advancements in marketing tools, property development companies in Georgia have increasingly turned to social media marketing to connect with consumers and ensure the company’s resilience. However, there is still a lack of empirical evidence demonstrating the effectiveness of social media and its influence on homebuyers’ purchasing decisions in the country. The main objective of the proposed study is to investigate the extent to which social media influences the buying decision process of consumers in the Georgian real estate industry and the impact of demographic factors on that relationship. The research seeks to emphasise the key factors and characteristics of information acquisition by homebuyers regarding different real estate projects, as well as the alignment of marketing experts’ vision with homebuyers’ preferences and behavioural patterns. The research was conducted based on the results received through surveys of homebuyers and marketing experts working in the real estate industry. A total of 252 individuals and 53 marketing specialists were surveyed through social media platforms using Google Forms. According to the study, social media significantly influences the homebuying decision-making process, with a distinct effect on the “Search of Information" and "Evaluation of Alternatives" stages. However, demographic factors do not impact the intensity of this relationship. Additionally, the research found that trust toward the content posted on social media is moderate and requires more attention from marketers to be raised. Based on the results, it can be concluded that customers prefer to receive information through simple content formats like videos and photos, with an emphasis on transparency regarding price, location, and property size information. Additionally, marketing managers should not rely solely on one communication channel but diversify the tools used for information dissemination. The study will contribute to the development of proper marketing strategies in the residential real estate sector by suggesting insights to utilise in strategic communication plans, thereby enhancing effectiveness and ultimately, the company's profit.