Home / Current Issue / Paper 1706567
Pricing Strategies and Customer?s Loyalty in Aviation Industry: Microeconomic Analysis of Air-Peace Pricing Model
Subject area: Management and Commerce · Area of research: Business Economics
Abstract
This research work examined pricing strategies as a way of eliciting brand loyalty. (A study of Airpeace-Nigeria.) The aim of the study is to examine the extent to which pricing strategies can be used as a vehicle for sales growth and profitability which ultimately leads to brand loyalty. Primary data were collated through self- designed and well ?structured questionnaire. The sample size was drawn from one hundred and ten (120) loyal customers and employees of Air peace Nigeria. Three hypotheses were drawn from the research questions, formulated and tested using simple percentage % and chi-square (x2) statistical method at 0.05 level of significance. Based on the findings, the study recommends that firms particularly airlines should introduce different pricing strategies to different segments particularly promotional pricing as this will help the firms retain their customers? loyalty and gain a large market share for long term growth and profitability of the company.
Keywords
Brand loyalty, business sustainability, pricing strategy and profitability
How to cite this paper
@article{1706567,
author = {Dr Kwode E. Israel},
title = {Pricing Strategies and Customer?s Loyalty in Aviation Industry: Microeconomic Analysis of Air-Peace Pricing Model},
journal = {Iconic Research And Engineering Journals},
year = {2024},
volume = {8},
number = {5},
pages = {493-504},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1706567.pdf},
abstract = {This research work examined pricing strategies as a way of eliciting brand loyalty. (A study of Airpeace-Nigeria.) The aim of the study is to examine the extent to which pricing strategies can be used as a vehicle for sales growth and profitability which ultimately leads to brand loyalty. Primary data were collated through self- designed and well ?structured questionnaire. The sample size was drawn from one hundred and ten (120) loyal customers and employees of Air peace Nigeria. Three hypotheses were drawn from the research questions, formulated and tested using simple percentage % and chi-square (x2) statistical method at 0.05 level of significance. Based on the findings, the study recommends that firms particularly airlines should introduce different pricing strategies to different segments particularly promotional pricing as this will help the firms retain their customers? loyalty and gain a large market share for long term growth and profitability of the company.},
keywords = {Brand loyalty, business sustainability, pricing strategy and profitability},
month = {November},
}