Principal component analysis of factors influencing pricing decisions of building materials in Ghana
Principal component analysis of factors influencing pricing decisions of building materials in Ghana
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Date
2018-08-24
Authors
Danso, Humphery
Obeng-Ahenkora, N. K
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Publisher
Talor&Francis
Abstract
The key factors that greatly affect the selection of building materials are the cost and other
related factors such as properties of the materials. The aim of this study was to identify the fac tors that influence the pricing decisions in determining the price level of building materials in
Ghana. Self-administered questionnaires were sent to both construction practitioners and build ing material merchants to collect data in Kumasi metropolis, Accra metropolis and Sunyani
municipal assembly in Ghana. Factor analysis was performed to identify the main factors that
influence pricing decisions of building materials. Six main factors were identified: market-, pro ducer-, production-, economic-, political- and environmental-related factors. It is recommended
that the identified factors should be controlled by stakeholders who are concerned with the
identified factors that contribute to prices of the building materials in order to prevent the
increased prices of building material. The study contributes to the literature in the area of build ing materials management.
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Citation
Obeng-Ahenkora, N. K., & Danso, H. (2020). Principal component analysis of factors influencing pricing decisions of building materials in Ghana. International Journal of Construction Management, 20(2), 122-129.