PRICING STRATEGY: KEY TO CUSTOMER SATISFACTION IN HARDWARE RETAIL STORES

Ghenkis A. Ezcurra-Zavaleta, Emily J. Infante-Carrasco, Victor Manuel Reyes, Ronald M. Hernandez, José Silva, Miguel A. Saavedra-Lopez

Research output: Contribution to journalOriginal Articlepeer-review

Abstract

Currently, the retail trade develops various marketing strategies to reach customers, such as competitive prices, promotions and quality in customer service. The objective of the research was to determine the relationship between price strategy and customer satisfaction in retail hardware stores in northern Peru. A survey was applied to 433 customers, and structural equation modeling was used to demonstrate the proposed model based on cost pricing theory and perceived value. The results indicated that the pricing strategy based on competitive pricing, customer segmentation and promotions results in higher customer satisfaction in retail hardware stores. It is concluded that the results obtained can serve as a basis for retailers to adjust and optimize their pricing strategies in order to generate higher levels of customer satisfaction.

Original languageAmerican English
Article numbere-6448
JournalRelacoes Internacionais no Mundo Atual
Volume2
Issue number40
DOIs
StateIndexed - 1 Apr 2023

Bibliographical note

Publisher Copyright:
© 2023, Centro Universitario Curitiba - UNICURITIBA. All rights reserved.

Keywords

  • Pricing strategies
  • customer satisfaction
  • customer segmentation
  • promotions

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