An assessment of the influence of economic hardship on pricing strategies and customer perception of quality: A study of a supermarket in Lagos, Nigeria.
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Background of the study
Economic hardship forces businesses to reconfigure their pricing strategies to remain competitive while meeting consumer expectations. In Lagos, supermarkets are particularly affected, as consumers become highly price-sensitive during downturns. Pricing strategies adopted during these times not only influence sales but also shape consumer perceptions of product quality (Okafor, 2023). Research indicates that when price adjustments are made without clear communication, consumers may associate lower prices with diminished product quality, even if the products remain of high standard (Ibrahim, 2024). This perception can lead to reduced customer trust and long-term loyalty. Conversely, transparent pricing strategies that clearly articulate value can help maintain quality perceptions and sustain consumer confidence. This study assesses how economic hardship affects pricing strategies and, in turn, consumer perceptions of product quality at a supermarket in Lagos. The findings aim to offer practical recommendations for aligning pricing adjustments with effective communication to uphold product quality perceptions (Adebayo, 2025).
Statement of the problem
Supermarkets in Lagos face the challenge of balancing pricing strategies during economic hardship without compromising consumer perception of product quality. Price cuts intended to attract budget-conscious consumers may inadvertently signal lower quality, leading to reduced trust and diminished customer loyalty (Okafor, 2023). Inconsistent pricing practices further exacerbate this problem, creating confusion among consumers and negatively impacting purchase behavior (Ibrahim, 2024). This study addresses the need to understand how economic conditions influence pricing strategies and their effect on perceived product quality, aiming to identify measures that can sustain consumer confidence and promote long-term loyalty (Adebayo, 2025).
Objectives of the Study
To evaluate the impact of economic hardship on supermarket pricing strategies.
To assess how pricing strategies affect consumer perception of product quality.
To recommend strategies for aligning pricing with quality perceptions.
Research Questions
How does economic hardship influence pricing strategies in supermarkets?
What is the effect of pricing adjustments on consumer perceptions of product quality?
What strategies can maintain quality perceptions during economic downturns?
Significance of the study
This study is significant as it investigates the interplay between pricing strategies and consumer perceptions of product quality during economic hardship in the retail sector. The findings will help supermarkets in Lagos develop pricing models that sustain consumer trust and enhance perceived product quality, even in challenging economic climates (Okafor, 2023; Ibrahim, 2024). The recommendations will contribute to more resilient pricing strategies and improved market performance (Adebayo, 2025).
Scope and limitations of the study
The study is limited to a supermarket in Lagos and focuses on pricing strategies and their impact on consumer perception of product quality during economic hardship. It does not extend to other sectors or regions.
Definitions of terms
Pricing strategies: Methods used to set and adjust product prices.
Consumer perception of quality: The evaluation of product excellence by consumers.
Economic hardship: Periods of financial instability impacting consumer spending.
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