Impact of pricing, brand loyalty and social status on consumer buying behavior

Abstract

This research project is about the Impact of pricing, brand loyalty and social status on consumer buying behavior. A total of 100 questionnaires were distributed, thus indicating a sample size of 100 respondents. The study was confined to the local area of Islamabad. All the research material that is presented has been gathered from internet. Convenient random sampling process has been chosen for distributing the questionnaire equally between male and female respondents. The selected males and females. respondents' chose randomly Instrument used for collection of primary data was a closed ended questionnaire. There were a total of eighteen ( 18) questions that were asked. Data was analyzed and interpreted. On the basis of this conclusion and recommendations were written. Each questionnaire was studied to analyze the answer of respondents. Statistical treatment was then used. The research proved that most of the respondents do link the image of a product with how it is priced~- associating higher priced goods with higher quality and lower priced good with inferior quality. The social and prestige image portrayed by the product was also showed to be weighty in the purchase decision. A lot of people were found to buy products simply to maintain a social status and to follow up with current trends. Consumers also expressed a degree of brand loyalty thus indicating the effect brand loyalty has on whether or not a product is actually a matter of purchase consideration let alone the purchase decision. Firms should keep in mind the consumers association of high price to good quality when deciding on appropriate pricing strategies. Moreover consumers seeking prestige in their purchase focus on the luxury image associated with the product. Companies must maintain this image to maintain customers.