Pricing and Packaging as Determinants of Customer’s Purchase Decision: A Study of Chinese Influence on Mobile Phones in Nigeria
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2022-12
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Lead City University
Abstract
The global economy is witnessing the massive influx of Chinese products across the global market. Nigeria in particular, is one of the countries that has a strong trade relationship with China. Chinese Products, dominate most Nigerian market with very affordable price compromised quality. Their pricing strategy, product design and ability to create brand awareness give their products an edge over the competitors. The study adopted a mixed method approach by combining a survey research design with exploratory research design. Survey research design is used when the research intends to study the variables, how they naturally occur without an attempt to manipulate them. A total of one thousand two hundred (1200) were administered in this research. The study concluded that, the price of these Chinese phones is a significant factors for most of its customers. Because of this, the rate variable has the affecting duty for acquisition purposes for clients, yet item packaging does not have much substantial impact on the acquisition choice for the purchasing of Chinese phones. The study recommended that the local entrepreneur needs to undergo training in areas of cost cutting, efficient use of resources while being encouraged to form clusters in order to benefit from economies of scale thereby driving down cost and by extension price of products. In addition to that, the study recommends that is necessary to set the packaging standard and to implement strategy accordingly for better protection and promotion of a product.
Keywords: Marketing, Price, Customer behavior, Quality, Brand awareness
Word Count: 245
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Kate Turabian