An assessment of the influence of pricing and promotion challenges on consumer trust: A study of a retail electronics brand in Port Harcourt, Nigeria
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Background of the study
Retail electronics brands in Port Harcourt are continually striving to build consumer trust in a market characterized by rapid technological advancements and intense competition. However, challenges in pricing and promotion frequently disrupt these efforts. Pricing challenges, such as inconsistencies in pricing strategy and opaque cost structures, coupled with ineffective promotion techniques, can lead to consumer skepticism regarding the brand’s transparency and commitment to quality (Ike, 2023). This research examines how these challenges impact consumer trust. Retail electronics brands are compelled to navigate the fine line between competitive pricing and perceived value, while promotional activities must effectively communicate the quality and innovation embedded in their products. Studies indicate that consumer trust is significantly influenced by the clarity and fairness of pricing, as well as the consistency and authenticity of promotional messages (Olu, 2024). In an environment where even minor discrepancies can have major repercussions, understanding the interplay between pricing, promotion, and consumer trust is essential. This study seeks to provide empirical evidence and actionable insights for retail electronics brands to overcome these challenges and foster stronger consumer relationships (Adesina, 2024).
Statement of the problem
Retail electronics brands in Port Harcourt face significant challenges in pricing and promotion that erode consumer trust. Inconsistencies in price communication and ambiguous promotional messages create consumer uncertainty, leading to a decline in trust and loyalty. The absence of standardized practices in these areas further complicates the situation, leaving brands without clear strategies to overcome these hurdles. This study addresses the need to understand how pricing and promotion challenges influence consumer trust, aiming to fill the research gap and provide practical recommendations for building stronger, trust-based relationships with consumers (Eze, 2023).
Objectives of the Study
To evaluate the impact of pricing challenges on consumer trust.
To assess the effect of promotion challenges on consumer trust.
To recommend strategies to improve pricing transparency and promotional consistency.
Research questions
How do pricing challenges affect consumer trust in retail electronics?
What impact do promotion challenges have on consumer trust?
What strategies can enhance consumer trust amid these challenges?
Significance of the Study
This study is significant as it explores the influence of pricing and promotion challenges on consumer trust in a retail electronics brand in Port Harcourt. The findings will help marketers develop more transparent pricing strategies and consistent promotional messages, thereby enhancing consumer trust and loyalty. The research contributes to academic literature and provides practical recommendations that can improve competitive positioning in the electronics market (Olawale, 2024).
Scope and Limitations of the Study
The study is limited to evaluating pricing and promotion challenges and their impact on consumer trust for a retail electronics brand in Port Harcourt. It does not extend to other sectors, regions, or include broader economic conditions.
Definitions of Terms
Pricing Challenges: Difficulties in establishing clear, competitive, and transparent pricing.
Promotion Challenges: Obstacles in executing effective marketing communications.
Consumer Trust: The confidence that consumers place in a brand’s reliability and transparency.
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