An investigation of ethical pricing and promotion strategies on consumer perception of product value: Evidence from a fair‑trade goods brand in Port Harcourt, Nigeria
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- 1-5 Chapters
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- Table of Content: Available
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- NGN 5000
Background of the study
Fair‑trade goods brands in Port Harcourt strive to uphold ethical practices in both pricing and product promotion. Ethical pricing strategies ensure that products are sold at fair values that reflect sustainable production costs, while ethical promotion strategies emphasize transparency and social responsibility (Chinwe, 2023). Together, these practices can enhance consumer perception of product value by reassuring buyers that the products are not only ethically produced but also fairly priced. In a market where consumers are increasingly conscious of sustainability and fairness, the integration of ethical pricing and promotion strategies can differentiate a brand from competitors. Research suggests that when consumers perceive that a product is priced and promoted ethically, their evaluation of the product’s value increases, which can lead to higher purchase intent and brand loyalty (Ibrahim, 2024). This study investigates how these ethical strategies influence consumer perceptions of product value for a fair‑trade goods brand in Port Harcourt.
Statement of the problem:
Fair‑trade goods brands in Port Harcourt often face challenges in effectively communicating ethical pricing and promotion practices. Inadequate transparency in pricing or inconsistent ethical promotion may lead consumers to question the product’s true value, thereby diminishing trust and perceived quality (Chinwe, 2023). This misalignment can result in reduced purchase intent and lower brand loyalty. To remain competitive, it is imperative for fair‑trade brands to identify and implement effective ethical pricing and promotion strategies that resonate with consumers and accurately convey product value (Ibrahim, 2024).
Objectives of the Study
To assess the impact of ethical pricing on consumer perception of product value.
To evaluate the influence of ethical promotion strategies on product value.
To recommend best practices for ethical pricing and promotion.
Research questions
How do ethical pricing strategies influence consumer perception of product value?
What is the effect of ethical promotion on perceived product value?
Which ethical practices are most effective for fair‑trade goods?
Significance of the Study
This study is significant as it provides insights into how ethical pricing and promotion strategies affect consumer perception of product value for a fair‑trade goods brand in Port Harcourt. The findings will help marketers develop transparent strategies that enhance perceived product value, driving increased purchase intent and brand loyalty (Ibrahim, 2024).
Scope and Limitations of the Study
The study is limited to a fair‑trade goods brand in Port Harcourt and focuses exclusively on ethical pricing and promotion strategies.
Definitions of Terms
Ethical Pricing: Transparent pricing that reflects fairness and sustainability.
Ethical Promotion: Advertising that emphasizes honesty and social responsibility.
Product Value: The perceived worth of a product by consumers.
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