Pricing Strategies and Customer’s Loyalty in Aviation Industry: Microeconomic Analysis of Air-Peace Pricing Model

• Author(s): Dr Kwode E. Israel
• Paper ID: 1706567
• Page: 493-504
• Published Date: 26-11-2024
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 8 Issue 5 November-2024

Abstract

This research work examined pricing strategies as a way of eliciting brand loyalty. (A study of Airpeace-Nigeria.) The aim of the study is to examine the extent to which pricing strategies can be used as a vehicle for sales growth and profitability which ultimately leads to brand loyalty. Primary data were collated through self- designed and well –structured questionnaire. The sample size was drawn from one hundred and ten (120) loyal customers and employees of Air peace Nigeria. Three hypotheses were drawn from the research questions, formulated and tested using simple percentage % and chi-square (x2) statistical method at 0.05 level of significance. Based on the findings, the study recommends that firms particularly airlines should introduce different pricing strategies to different segments particularly promotional pricing as this will help the firms retain their customers’ loyalty and gain a large market share for long term growth and profitability of the company.

Keywords

Brand loyalty, business sustainability, pricing strategy and profitability

Citations

IRE Journals:
Dr Kwode E. Israel "Pricing Strategies and Customer’s Loyalty in Aviation Industry: Microeconomic Analysis of Air-Peace Pricing Model" Iconic Research And Engineering Journals Volume 8 Issue 5 2024 Page 493-504

IEEE:
Dr Kwode E. Israel "Pricing Strategies and Customer’s Loyalty in Aviation Industry: Microeconomic Analysis of Air-Peace Pricing Model" Iconic Research And Engineering Journals, 8(5)