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Service quality vs satisfaction
Importance of pricing in marketing strategy
Importance of pricing in marketing strategy
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Business is involved in human's everyday life and it is considered as a huge field, and in this field I am interested in marketing. Some people have defined marketing as the processes to deliver a product from the producer to the consumer, who are the main point of the existence of any company, therefore it is important to make sure that those customers are satisfied. The aim of this article is to investigate the relationship between the price and customer satisfaction, by studying the use of price fairness and price acceptance and how that led to satisfied customers, which supported my hypothesis that customer satisfaction is strongly affected by price. According to the article, price fairness, which is the balance between the price, the standard and the performance of the product or the service, and price acceptance, which is the maximum amount of money that customers are willing to pay for a product or service, are effecting consumer satisfaction. The aim of the article is to prove the relationship between customer satisfaction and the price. Consequently, if the price, from the customers point of view, is reasonable and it meets the provided performance that will lead to satisfied consumers. Thus, customers are willing to spend more money for goods or services that provide greater satisfaction. The article also provide a research which was done on the airline industry focusing on international airline passengers who were asked to focus on the airline they usually used. The research involved questions regarding price fairness, price acceptance and customer satisfaction and according to the article. Despite the many negative aspects which have been presented in this article, it has contained several positive points. The f... ... middle of paper ... ...ncertain details such as the number of interviewed people. Moreover, the method of collecting data was not suitable. Besides that, the final result was estimated by the authors based on individual results. In conclusion, despite the positive points, the negative aspects in this article are stronger and directly related to the result of the research, though, it is one of the limited articles which focused on the relationship between price and customer satisfaction, in addition, it discussed the problem that I am investigating, also it has supported my hypothesis by showing the role of price in term of gaining customer satisfaction. Works Cited David Martin-Consuegra, Arturo Molina and Agueda Esteban. (2007). An integrated model of price, satisfaction and loyalty: an empirical analysis in the service sector. Journal of Product & Brand Management, 16 (7), 459-468.