Frequency of exposure and attitude of target women toward product price-tag as advertising strategy on consumer purchase decision in lagos metropolis
This research work examined product price-tag as an advertisement strategy and consumer buying intention among target women in Lagos metropolis. The importance of price tags cannot be overstated. Price-tag educates the buyer about an item price in such a way that the customer has no qualms about it and this sometimes-guaranteed affordability. The product name, producer name, weight, barcode/EAN, and, ultimately, information on whether a certain product is on the shelf at a regular or special price are all included on price tags. The major objective of this work was to examine the effect of product price-tag advertisement on target women in selected markets within the Lagos metropolis. Cross-sectional survey was adopted with questionnaire as an instrument of data collection. A sample size of 25 respondents was determined using infinite population, For the purpose of the study; the estimated sample size was increased to 200. The purposive sampling was adopted, our findings were based on test of hypothesis. Validity and reliability was conducted. The method of data collection used was face-to-face through proxy and data was analyzed using statistical package for social and management sciences (SPSS) version 28 and data was presented using descriptive analysis. The study found out that majority of the respondent agreedthat packaging product with price-tag and relevant product details has a positive significance on purchase decisions. The study concluded that product-price tag advertisements have a great influence on consumer buying intention. The study recommends that Product price-tag advertisement should be well packaged to enhance consumer purchase decision. The study’s findings would be useful to consumers as well as marketing managers and advertising agencies who are affected by price of a product.
Key words:Price tag, advertising strategy, buying intention, consumer’s intention, target women
Consumers make numerous decisions in their daily lives, one of which is the purchasing decision. They decide to buy some products for a variety of reasons, including a need for these products, a desire to try them, products that have been highly recommended by others, or products that will be given as a gift. Companies, on the other hand, study and analyze consumer behaviour in various departments such as marketing, advertising, public relations and research and development in order to set and introduce either a new product/service or to develop an existing one. Companies, for example, attempt to study and analyze purchase timing, purchasing mode, purchase quantities, and product or service type. The main goal of all of these efforts has been to satisfy consumers and make them loyal. (Zhou 2015)
Singh (2012) notes that there is a high competition between companies to get loyal customers and to sustain them. However, this is not an easy task for marketers and advertisers, because several companies and brands compete simultaneously to sustain customers and get abundant profits. Studying consumer buying intention has a vital role in understanding the factors that influence consumers’ buying decision. Customers are the primary focus of the marketing and advertising processes and the benchmark to measure the success or failure of goods and services. Therefore, most of the companies study consumer buying intention to increase the possibility of their success and profitability.
Price-tag being the amount the consumer must exchange to receive the offering. This offering sometimes may be edible or non-edible in a consumer market. As the price-tag of a product depends on different elements and hence it changes constantly, thus, certainly the price is dynamic that this bear the changes over certain duration. The important factor in price-tag is deciding the cost of the product, strategy for marketing and its expenses related to distribution, advertisement expenses or any kind of price-tag variation in the market. If there is change in all the variables then generally the price tag of the product may vary accordingly.
Al-salamin (2016) examines how Price is one of four P’s of marketing mix which are product, price, place and promotion. Price-tag is the only clear factor that produces money and provides obvious signal of success or failure of product and services. Price-tag consciousness affects consumer buying intentions when the price-tag for a newly introduced product is known not to be the same at the point of purchase. Hence, consumer and marketing researchers have studied the concept of price-tag consciousness in relation to a huge variety of phenomena, ranging from price acceptability, price thresholds, and unit price-tag on retail shelf labels to market segmentation and brand extensions (Roos, Eastin, &Matsuguma, 2005).
Various global organizations perceive price-tag as a product attribute which plays an important role in every purchase decision, influencing product preferences and choice (Van,Caputo, Nayga, Meullenet&Ricke, 2011). Price-tag plays an important and complex role in consumers’ evaluation of a product. On the one hand, Price-tag is seen as a cost, representing the amount of money consumers have to sacrifice for a transaction. A high price can be perceived favourably when consumers believe that the price-tag of the product is positively related to its quality. The price-tag consumers pay for a product may be perceived in different ways. For example, when price-tag is solely seen as a cost element, it is usually judged from a negative point of view and considered purely as a sacrifice. (Scarpa, Naspetti&Bruschi, 2013).
Kotler and Keller (2012) described price-tag as one of the elements in marketing mix that produces revenue; however they also stated that purchase decisions are based on how consumers perceive price-tag and what they consider the current actual price-tag to be. Understanding how consumers arrive at their perceptions of prices is an important marketing priority. Price-tag is very important because it defines the value that your products are worth for you to make and for your customers to use. It is the tangible price-tag point to let customers know whether it is worth their time and investment. (Ingenbleek, Verhallen& Frambach, 2013).
Further research reaffirms that price-tag is associated with intentions to purchase counterfeits (Kim and Karpova, 2010). The amount listed on the price-tag may have different effects on the demand for a given product, depending on how the target consumers evaluate price-tag information. However, how consumers evaluate and use price information when purchasing necessity products such as consumable products which largely depends on how the individuals perceive and react to price-tag information in general. It was seen that one psychological phenomenon that significantly influences consumer reactions to price information is price consciousness. The notion of price-tag consciousness as an individual, personality related characteristic implies that it could very well be found to influence consumer purchase intentions even when clear price-tag information does not exist (Kim &Karpova, 2010).
Therefore, this study is targeted at determining the product price tag as an advertisement strategy on consumer buying intention among selected target women within Lagos metropolis. Major concept to look on in the area of pricing, like, market involvement, geographical location, consumers’ perceptions and companies credibility and communication. Therefore, this study is to expose what led to the differentiation in product pricing as contrary to what has already stated or mentioned during advertisement which is known as advertisement price-tag and market price.
Despite the fact that best practices have been the subject of numerous studies on product price-tag on consumer buying intention, less research has focused on best practices that underline the practice and decision. There are several studies of consumer buying intention and how this is being affected by the repeated exposure to advertising with product price-tag. However, most of the times when a product is being advertised there is a particular price being fixed on that product and on getting to the market place buyers see that the price tag being advertised is different from what the market place are selling. For example cooking power oil, when being advertised the price fixed on it is 100 naira but getting to the market place, consumers purchasedthe product at 120 naira. Also, Hypo sachet cleaner advertised to be sold for 30 naira but was later sold at 50 naira in the shop, Noodles was also advertised for a 1,000 naira and sold for 1,250 naira at a retailer’s shop, Harpic toilet cleaner also advertised for 30 naira but later sold for 60 naira. Against the backdrop, Advertising Practitioners Council of Nigeria(APCON)(49) section 39 of its Code 2018 stated that “advertisement with complicated price structure and information which appear in transient types of media such as the radio and television shall explain the details of such complicated price structure and information except where they are accompanied with details print media explanation. The transient media shall specifically instruct consumers to see the print medium for details” in line with the above, some retailer or wholesaler still sell above the advertised price. There are posing a lot of challenges on the consumer that can no longer trust the advertising message.
However, consumer buying intention on sales is the most difficult tasks facing many business executives. This is because it is difficult to predict, estimate or determine with accuracy, potential customers’ demands as they are uncontrollable external factors to an organization. Therefore, this study is meant to look at the how price tag influences the buying intention. Evidences from the literature have shown that few studies are conducted here in Nigeria as more studies are still needed to really domesticate this within the Nigerian environment.
1 To determine the frequency of purchase decision of product price-tag advertisement among target women.
2 To determine the relationship between product price-tag and consumers purchase decision among some selected target women.
- How frequently do target women receive product price-tag advertising?
- What is the attitude of target women towards price-tag on advertisement and how has price-tag affected consumer attitude?
Review of Related Empirical Studies
Research conducted by different scholars were reviewed in relation to the area of study explained below:
Cozer (2018) examines consumer’s perception and their purchase intentions towards second-hand clothing stores. In this study qualitative and adductive approach were employed, combined with an exploratory design. Semi-structured face-to-face interviews were conducted utilizing a convenience sampling approach. The study output shows that elderly consumers are influenced by values and beliefs towards second-hand clothes. Young people are very influenced by the concept of fashion when it comes to second-hand clothes. While adults observed that price and the sense of uniqueness drive their decisions towards second-hand clothes consumption. The study revealed two new motivational factors towards second-hand clothes shopping, as charity and curiosity. There will be usefulness of this study to managers of second-hand clothing stores to guide their decisions, especially in the improvement that can be made to make consumer overcome the moderating factors towards second-hand shopping. In essence, Cahyani and Artanti (2020) examine the effectiveness of e-mail marketing in increasing consumer online buying intention in their research paper titled “The influence of informativeness, entertainment and E-mail marketing irritation on online buying intentions with attitude toward advertising as mediation variable. The sampling methodology was non probability sampling techniques, and the case study research method research was employed. The study output shows that information and entertainment have a positive and significant effect on online consumer buying intention, while irritation have a negative and significant effect on online consumer buying intention. In formativeness and entertainment have a positive and significant effect on attitude toward advertising, while irritation has a negative and significant effect on attitude toward advertising? The usefulness of this study to managers and organization who intend to know the effect of a product on consumer buying intention cannot be underestimated.
Lenne and Vandenbosch(2017) aim at assessing the relationship between different types of media and the buying intention to sustainable apparel and test whether attitudes, social norms, and self-efficacy beliefs may explain these relationships. . A cross-sectional survey study was used as the method of data collection which was conducted among 681 young adults (18-26 years old). The findings show that exposure to social media content of sustainable organizations, eco-activists, and sustainable apparel brands, and social media content of fashion bloggers and fast fashion brands predicted respondents’ attitudes, descriptive and subjective norms, and self-efficacy beliefs regarding buying sustainable apparel. In turn, attitudes, descriptive norms, and self-efficacy beliefs predicted the intention to buy sustainable apparel. Fashion magazines predicted the intention through self-efficacy. Specialized magazines did not predict the intention to buy sustainable apparel.
Escalas and Bettman (2010) study consumers appropriate brand symbolism that comes from celebrity endorsement to construct and communicate their self-concepts. Study 1 finds out that celebrity endorsement enhances self-brand connections when consumers aspire to be like the celebrity, but harms them when consumers do not; this effect is more pronounced when the brand image is congruent with the celebrity’s image. This effect is further moderated by the degree to which a brand communicates something about the user, with more symbolic brands having stronger effects than less symbolic brands. Study 2 finds that the effect of celebrity endorsement on self-brand connections is augmented when consumers’ self-esteem is threatened. Consumers self-enhance by building connections to favorable celebrity images or distancing themselves from unfavorable celebrity images.
Ingenbleek, Frambach, and Verhallen (2013) investigate the best practices for new product pricing: Impaction market performance and price level under different conditions! Examined three managerial price-setting practices for new products, i.e., value-informed, competition-informed, and cost-informed pricing. The authors drew on consumer price perception literature; Monroe’s pricing discretion model, and numerical cognition literature to develop hypotheses about the impact of price-setting practices on new product market performance and price level. The study output shows that the effects of cost-informed and competition-informed pricing may differ depending upon the objective (market performance or higher prices), product conditions (product advantage and relative product costs), and market condition (competitive intensity). In line with the findings of this study, companies can jeopardize their efforts and investments in a new product development process if they engage in the wrong price-setting practices. The findings also imply that managers should consider different factors in new product pricing. That is when launching a new product; they should determine their explicit pricing objective, either by stressing market performance or a higher price level. The study also revealed the most appropriate pricing practices, in which organisations could assess their situation in terms of product advantage, relative product costs, and competitive intensity along sides the pricing objective. This research will be of great importance to organizations in determining their pricing practices and also in knowledge development in order to engage in the appropriate pricing practices for each product launch. By engaging these practices, managers can develop and compare quantifications in order to attain an introduction price for their product.
Sije and Oloko (2013) examine the relationship between penetration pricing strategy and the performance of the SMEs in Kenya. The study adopted questionnaire as an instrument of data collection. The data collected was analyzed by both descriptive and inferential statistical tools and the information generated was presented in form of figures and tables. The study output shows that there is a strong positive correlation between penetration pricing strategy and performance, and organisations should focus more on penetration pricing strategy because there is a significant level of effect of penetration pricing strategy on the number of consumer buying intention. The study will be useful for organisations and policy makers who want to have more knowledge on how penetration pricing strategy affects consumer buying intention.
In addition, Faith and Edwin (2014) examine the effect of pricing strategy on purchase of consumer goods as well as how it affect online presence on informed consumers buying intention. The study adopted descriptive form of survey, heavily and solely relied on secondary instruments as method of data collection. According to findings, competitor’s price affects purchase of products, and how customers perceive the value-based pricing concept of an organisations and the extent to which online pricing inform customer buying intention. The study output shows that consumers have a perception of value reflected in prices of organisations products. It also shows that competitors price affect the products and online pricing informs and affects consumers buying intention. This study will be very useful for organisations and manager who wish to have more knowledge in series of issues associated with pricing strategies and consumers buying intention process.
Oswari, Kusumawati, and Shukla (2019) in their research paper titled ‘Effect of marketing mix and national culture on consumer buying intention for music; examined the link between marketing mix and culture on consumer buying intention. The study was to determine the effect of marketing mix and culture on consumer buying intention. The method used was quantitative data from a survey (questionnaire-based). The research conducted a different test to determine the differences in consumer behavior in Indonesia and in India. The results of this study provided information to music industry about the factors that can attract consumer buying intention of music products, so the music industry can determine the right product marketing strategy. The data was analyzed using multiple regression analysis techniques.
Therefore, all the articles reviewed in this study were foreign as author cannot lay their hands on locally written study on this subject matter as at the time they were writing this paper. This implies that there may be few or no study written and published in Nigeria context. In essence, this calls for domestication of this study.The included articles that were published between 2010-2021, or had been in press at the time, the included work identified by authors and authorities and acknowledged as relevant by the use of work “product price tag and consumer buying intention” and research focuses on unravelling mysteries and new ideas relating to the concept of price-tag. However, the majority of the material highlighted and evaluated was more concerned with the concept of consumer buying intention on product price-tag, which may be significant in the fields of Marketing, and Psychology.
The theoretical framework of this study will focus on the theories relevant to this study; hierarchy of effect theory and AIDA model of advertising.
The hierarchy of effects is a theory that discusses the impact of advertising on customers’ decision-making on purchasing certain products and brands. The theory covers a series of stages that advertisers should follow, from gaining customers’ awareness to the final purchase behaviour.
The hierarchy of effects theory describes how advertising affects consumers’ behaviour and leads to the transition from not knowing a product or brand to liking it and finally making the action to purchase. The theory was first raised by Robert J. Lavidge and Gary. Steiner in their article entitled “a model for predictive measurements of advertising effectiveness,” which was published in 1961. It has now been used as a sophisticated advertising strategy to build up brand awareness and has branched off into many different variations.The hierarchy of effects is based on behavioural psychology. It can be classified into three main behaviour stages – cognitive, affective, and behavioural, regarding the human thought process. The cognitive stage is also known as “thinking,” containing the awareness and knowledge stages.
The affective stage is composed of the sub-stages of liking, preference, and conviction, which describes the impact on consumers’ “feeling” process. The final stage is the behavioural (doing) stage, reaching the ultimate goal of purchase. The following paragraphs will discuss each stage in more detail. Therefore, there are Stages of Hierarchy of Effects and these are: Awareness, Knowledge, Liking, Preference, Conviction and Purchase. All there formed the critical state that consumer will have to observer before they take any decision either positively or negatively.
Hierarchy of effects model is a study under behavioural psychology, which focuses on the response of behaviour. The model is thus criticized for its effectiveness by cognitive psychology, which studies the information processing of brains.
The hierarchy of effects breaks down the advertising impact on consumers’ purchase behaviour into a series of stages. Cognitive psychology scholars argue that, in the real world, consumers are exposed to a broad range of information that can impact their final purchase behaviour. The extensive background noise makes it almost impossible for advertisers to understand how the advertising information is processed in the consumers’ brains at each stage.
Another criticism is that the theory assumes the same six stages for all types of advertising, which ignores the differentiation among product types and advertising approaches. Instead of following the same series of stages, advertisers with different goals should build up unique selling ideas that can differentiate their products from competitors.
The second applicable theory for this study is AIDA model of advertising.The hierarchy of effects model was proposed in 1897 and included initially threesteps that sales person should lead his clients; to gain attention, maintain the interest and create desire. Later action was added to the steps in process. AIDA model is a marketing basic movement in organising advertisement that is resulted from customers’ perception.E.St. Elomo Levis introduces the concept in 1898. AIDA refers to Attention, Interest, Desire and Action. AIDA is abbreviation that is used in marketing and advertising; it describe general list of incidence which is possible to happen when a customer involves in a certain advertisement. AIDA consist of Awareness (attention to customer); Interest(improving customers’ interest by focusing on profit and benefit and it is not focused on feature like in traditional advertisement); Desire(convincing the customers that the interest of a product or service that can fulfil their needs); Action (main customer acts and or purchase product and service)(Lidan Yu, 2013).
The hierarchic model describes fours strategies that the advertising derives the consumer into, starting with awareness, interest, desire and action. It is therefore, noticed that the hierarchy of effects model represents a process with multiple stages that describes the way that consumer get from the total unaware of brand to awareness, manifests particular preferences, purchases the product and potentiality, develops loyalty for the brand(Hadiyati, 2016). The model become known in advertising literature AIDA. Therefore, cognition is considered the rational and mental process which involves exposure to advertising information. The sum of effects reflect the learning process, thought and the intellectual state of the consumer. These effects include awareness, attention, knowledge, comprehension, recognition, perception and beliefs or in other words, all the steps approached in these models which involve learning and understanding the features, uses and benefits of a products or services advertised. Therefore, the effective dimension deals with the effects of feelings that consumers involves in the acquisition process. This group of effects associate from multiple hierarchy models and explain the way a potential consumer feels about a particular products or the relationship established with the brand. This group of feelings include: acceptance, liking, interest, legitimisation, satisfaction, evaluation, yielding, preference, emotion, attitude and desire.
The relevance of the Hierarchy of Effect Theory and AIDA model to this study is that plays a significant role in the perception of consumers purchase intention and how they perceive product price-tag. Product price-tag is very important to consumers as well as how they perceive it. In addition to the perception of consumers on product price-tag mode of advertisement strategy carried out also have a great impact on the consumers desire.
Research design is the conceptual structure within which research is conducted. It constitutes the blueprint for collection, measurement and analysis of data. This study adopted a descriptive research design. This study employed a cross-sectional survey which involves collecting data on a whole study population at a single point in time and involves observing variables without any influence to them. The sample size of the study was estimated using the formula for infinite population. The Cochran formula was adopted. Therefore, the estimated sample size was increased to two hundred(200). Two hundred (200) sample sizes are considered adequate for data collection towards a reality.
The sampling techniques that was employed for this study is purposive sampling techniques. Purposive sampling is a non-probability sampling technique where the researcher relies on their discretion to choose variables for the sample population. This purposive selection strategy was employed since it allows the researcher to select a sample of respondent who will provide reliable and relevant information for this study. Target women were among those purposely chosen. Purposive sampling was used. This is because it allowed the researcher to choose those closer or those that can be found at that time of study.The research instrument that was used for this study is questionnaire. The questionnaire was designed and administered directly by the researcher to the respondents, who are some targeted buyers within the selected markets in Lagos metropolis. The research questionnaire was divided into six Sections. Section A which comprised of three items used to elicit demographic information from the respondents, while other Section, section B comprise of consumer exposure to price tag advertisement, section C comprise of relationship between price-tag and consumer purchasing decision, section D comprise of influence of price tag on consumer perception, section E comprise of price tag has a mediating factor that affect purchase decision, section F comprise of consumers attitude towards price-tag. All sections together consist of twenty-one items containing a close ended type question which are in 5-point Likertt scale method, adopted to elicit information on the perception of the subject on product price-tag and consumer buying intention. For the research questionnaire, Likertt scale option such as Strongly Agree (SA) 5, Agree (A) 4, Undecided (U) 3, Disagree (D) 2, and 1, Strongly Disagree (SD).The data was collected using face-to-face method in order to target the target women in Lagos metropolis, and the following tools of data collection were employed in the collection of data for this research. .In order to show the pattern of the variables and to present descriptive data gather through structured questionnaire, the study employed frequency distribution tables, using the statistical package for social sciences (SPSS) version 28, data was presented in frequency distribution tables that showed number of valid responses and their corresponding percentages. Interpretation of data in each table was done under the tables.
Result and Discussion
This section presents the data with the analysis and discussion. In this chapter, detailed analysis of the data collected during the research is presented in suitable form, so as to aid understanding of the data and result arrived at. The total number of questionnaires administered was two hundred while one hundred and ninety-one was returned. This revealed that the total number of copies of the questionnaire was returned after administering them to the respondent. From the analysis two hundred (200) copies, representing 96% were returned valid.
TABLE 1.1 RQ1: How frequently do consumers receive product price-tag advertisement.
|I get product price-tag advertisement every day at any time the same product price-tag advertisement, which gives information to me on the products or service.||
|I regularly receive product price-tag advertisement information on new product/service.||
|I occasionally try new product price-tag advertisement before my friends.||67
From the information in table 1.1 shows that 77 (40.3%) strongly agree, 44 (23.0%) agree, 9 (4.7%) undecided, 24 (12.6%)disagree and 37 (19.4%) strongly agree that they get product price-tag advertisement every day at any time the same product price-tag advertisement, which gives information to me on the products or service. 66 (35.2) strongly agree, 30 (15.7%) agree, 19 (9.9%) undecided, 36 (18.8%) disagree, 39(20.4%) strongly disagree that they regularly receive product price-tag advertisement information on new product/service. 67 (35.1%) strongly agree, 40 (20.9 %) agree, 15 (7.8%) undecided, 32 (16.8%) disagree, 37 (19.4%) strongly disagree that they occasionally try new product price-tag advertisement before my friends. Therefore, majority of the respondents strongly accept that they get product price-tag advertisement every day at any time. This constitutes (40.3%) of the total responses. This shows that respondents get product price tag every day. Similarly most people regularly receive product price-tag advertisement information on new product/service (35.2%), this shows that respondents receive product price tag advertisement. Most of the people occasionally try new product price-tag advertisement before their friends (35.1%), this shows that respondents try new product price tag advertisement before their friends.
Table 2.1 RQ2: What is the attitude of consumer towards price-tag on advertisement how has price-tag affected consumer attitude?
|I feel positive about product price-tag advertisement service delivery that i receive.||73(38.3)||36(18.8%)||19(9.9%)||29(13.6%)||34(19.4%)|
|I Feel comfortable receiving product price-tag advertisement.||72(37.7%)||44(23.0%)||9(4.7%)||28(14.7%)||38(19.9%)|
|I feel product price-tag advertisement offers me timely information.||72(37.7%)||37(19.3%)||12(6.3%)||28(14.7%)||42(22.0%)|
|I think about using product price-tag advertisement.||72(37.7%)||38(19.9%)||8(4.1%)||32(16.8%)||41(21.5%)|
|I think there is a risk of receiving product price advertisement when using mobile marketing service.||71(37.2%)||28(14.7%)||13(6.8%)||35(18.3%)||44(23.0%)|
|I would like to share product price-tag advertisement with my friend or family.||77(40.3%)||33(17.3%)||15(7.9%)||35(18.3%)||31(16.2%)|
|I will contact marketers to obtain more information about product.||79(41.4)||28(14.7%)||18(9.4%)||28(14.7%)||38(19.9%)|
|Product price-tag advertisement has led me to buy another brand which i do not regularly buy.||76(39.8%)||37(19.4%)||12(6.3%)||32(16.8%)||34(17.8%)|
|I responded to product price-tag advertisement to replying to the message during the last six months.||85(44.5%)||29(15.2%)||18(9.4%)||29(15.2%)||30(15.7%)|
Table 2.1 presents consumer attitude towards price-tag advertisement. The table shows that 73 (38.3%) strongly agree, 36 (18.8%) agree, 19 (9.9%) undecided, 29 (13.6%) decided, 34( 19.4%) strongly agree that they feel positive about product price-tag advertisement service delivery that is received. 72 (37.7%) strongly agree, 44 (23.0%) agree, 9 (4.7%) undecided, 28 (14.7%) disagree, 38 (19.9%) strongly disagree that they feel comfortable receiving product price-tag advertisement. 72 (37.7%) strongly agree, 37 (19.3%) agree, 12 (6.3%) undecided, 28 (14.7%) disagree, 42 (22.0%) strongly disagree that they feel product price-tag advertisement offers timely information. 72 (37.7%) strongly agree, 38 (19.9%) agree, 8 (4.1%) undecided, 32 (16.8%) disagree, 41 (21.5%) strongly disagree that they think about using product price-tag advertisement. 71(37.2%) strongly agree, 28 (14.7%) agree, 13 (6.8%) undecided, 35 (18.3%) disagree, 44 (23. 0%) strongly disagree that they think there is a risk of receiving product price advertisement when using mobile marketing service. 77 (40.3%) strongly agree, 33 (17.3%) agree, 15(7.9%) undecided, 35 (18.3%) disagree, 31 (16.2%) strongly disagree that they would like to share product price-tag advertisement with friends or family. 79 (41.4%) strongly agree, 28 (14.7%) agree, 18 (9.4%) undecided, 28 (14.7%) disagree, 38 (19.9%) strongly disagree that they will contact marketers to obtain more information about product. 76 (39.8%) strongly agree, 37 (19.4%) agree, 12 (6.3%) undecided, 32 (16.8%) disagree, 34 (17.8%) strongly disagree that product price-tag advertisement has led to buy another brand which they do not regularly buy. 85 (44.5%) strongly agree, 29 (15.2%) agree, 18 (9.4%) undecided, 29 (15.2%) disagree, 30 (15.7%) strongly disagree that they responded to product price-tag advertisement to replying to the message during the last six months. Therefore, consumers show different attitude towards price-tag advertisement. To establish this respondent largely feel positive about product price-tag advertisement service delivery (57.1%). However, majority of respondent feel positive about product price-tag advertisement service delivery (37.7%), (37.7%) feel product price-tag advertisement offers timely information, (37.7%) agree that they think about using product price-tag advertisement is…, (37.2%) believe there is a risk in receiving product price-tag advertisement when using mobile marketing service, additionally, (40.3%)agree that they will share product price-tag advertisement with friends and family, ( 41.4%) strongly agree that contact marketers can be used to obtain more information about product., (39.8%) strongly agree that product price-tag advertisement has led respondent to buy another brand,(44.5%) also respond to product price-tag advertisement message during the last six months.
Discussion of Findings
Research question one revealed that majority (63.3%) of the respondents agree that they get product price-tag advertisement every day at any time, (50.9%) agree that people regularly receive product price-tag advertisement information on new product/service, and (56%) agree that people occasionally try new product price-tag advertisement before their friends. The finding of this study is in line with the findings of Dey, Chauhan and Chakraborti (2014) in which they opine that advertising strategy matter in influencing mutual fund purchase. Therefore, there is a frequency of reception of product price-tag advertisement.
Research question two, shows that consumers show different attitude towards price-tag advertisement. The respondents largely feel positive about product price-tag advertisement service delivery (57.1%). However, majority of respondent feel positive about product price-tag advertisement service delivery (37.7%), (37.7%) feel product price-tag advertisement offers timely information, (37.7%) agree that they think about using product price-tag advertisement is (37.2%) believe there is a risk in receiving product price-tag advertisement when using mobile marketing service, additionally, (40.3%)agree that they will share product price-tag advertisement with friends and family, ( 41.4%) strongly agree that contact marketers can be used to obtain more information about product., (39.8%) strongly agree that product price-tag advertisement has led respondent to buy another brand,(44.5%) also respond to product price-tag advertisement message during the last six months.
The primary aim of this research is to duly examine and ascertain the effect of product price-tag on consumer buying intention. This study examined the topic “product price-tag as an advertisement strategy on consumer buying intention among some selected market target in Lagos metropolis” with the major objective of examining product price-tag as an advertisement strategy on consumer buying intention among some selected target women in Lagos metropolis.
Based on the findings of this study, the study has helped to prove the power of product price-tag, how effective it is, and how captivating, and how it can contribute to consumer buying intention and the target women at large. It is also proven or demonstrated that having gone through the research product price-tag has a great influence on consumer buying intention that will be added to the selected target women.From the result of the data analysis, the research concluded that product price-tag contribute immensely to consumers buying intention, most especially among target women in Lagos, Nigeria.Based on the findings, the study recommended that:Product price-tag advertisement information should be detailed to consumers and there should be reception of product price tag advertisement on consumer buying intention.
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Department of Mass Communication, McPherson University, SerikiSotayo, Ajebo, Ogun State, Nigeria Phone Number: 07063371562, E-mail Address: firstname.lastname@example.org
Department of Mass Communication, McPherson University, SerikiSotayo, Ajebo, Ogun State, Nigeria