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1.

Price element of marketing mix: Its effect on customer experience in construction industries Pages 3643-3654 Right click to download the paper Download PDF

Authors: Ahmad Al-Fadly

doi 10.5267/j.msl.2020.6.029

🔑 Keywords: Price value, Price advantage, Price penetration, Marketing mix, Customer experience, Construction industry

Abstract:
The objective of this paper was to identify aspects of pricing strategy that impact customer experience within the construction industries. A literature review examined the antecedents driving customer satisfaction. A conceptual framework relating two dimensions namely, pricing strategy and customer experience was developed to evaluate customer satisfaction. Several latent variables related to the marketing mix and customer experience were introduced. Latent variables were measured through a 5-point Likert Scale questionnaire and analyzed by Structural Equation Modelling. Three aspects of pricing strategy and four aspects of customer experience were identified as parameters pertinent to customer satisfaction. Findings showed that price value, price advantage and price penetration influenced pricing strategy. Reputation, confidence, information and expertise influenced customer experience. This paper contributes to understanding the significance of pricing strategy and customer experience as the foundation for customer satisfaction and business profitability. These findings were presented as recommendations to the construction industry.
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Journal: MSL | Year: 2020 | Volume: 10 | Issue: 15 | Views: 3678

 

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