| dc.description.abstract | The mortgage industry is currently facing competition with most commercial banks and pension funds which previously were not offering residential mortgages entering in the lending arena. Since a home is a high involving product requiring consumers' time and energy in considering product satisfaction, mortgage companies such as NHC can retain their customer base by designing products that meet customer expectations and make post purchase follow-ups. The objectives of the study were therefore to determine the post purchase behavior of NHC mortgaged customers after they purchase a house on mortgage, their perception on the follow-up measurers offered by NHC to ensure they are satisfied, and their perception on how the company handles their dissatisfactions if any. The outcome of the study was intended to help the company understand their customers long after the purchase decision has been made as this would affect subsequent purchases by same customers and influence the post purchase communications by word of mouth to other people, which will have an impact to the company in the long run.
To achieve the objectives, a descriptive survey was used in the study. The population was derived from the NHC biennial report 2005 list. The researcher aimed at a sample of 250 housing units and achieved a 68% response rate. This is because most people living in the house units were not the real purchasers of the houses as they had rented them hence not being adequate subjects for the sake of this study. Houses sampled were selected randomly and proportionate samples taken from selected estates. Primary data was collected using structured questionnaires and data analyzed using percentages and mean scores while data presentations were made in tables.
The analysis indicated that most respondents were satisfied with NHC products to a large extent and therefore would defend and testify positively about it and its products. However, the results show that to no extent would respondents write a compliment letter to the press about the company. On- the other hand dissatisfied customers requested for repairs and price adjustments to a large extent, while they did not consider grumbling to friends, selling the house to someone else, admitting a mistake was done or taking any legal action. Among the measurers offered by the company, maintenance
services were deemed to be most satisfying, respondents indicated indifference to'Nard suggestion boxes and follow-up calls, which brings a challenge to NHC to be more sensitive to its customers by offering them reassuring follow-up calls and responding to the letters sent in the suggestion box. However, the results show that respondents were satisfied with the response letters sent to them by the company upon dissatisfaction, but were indifferent toward how their complaints were listened to by the company staff and the interim fix-it action offered.
The recommendations of the study are that there is need for mortgage providers in this case NHC to understand their customers' behavior long after they have made the purchase. A house being a large investment, customers need to be reassured that they have made the right purchase decision to encourage them make subsequent purchases and talk to others about their positive experience on conducting business with NHC. It is suggested that a study could be carried out on other mortgage firms to reveal if the findings will be different from the current one | en |
