A Study on Pricing Strategies and Its Impact on Customer Purchase

Customer preference is an important element for all businesses in most industries. The retail industry has several types of preferences depending on the product. This study was conducted to get a better understanding of the preferences and satisfaction levels of Chennai silks. Chennai Silks branch gives a variety of collections, varieties, brands, etc., people only predict the success or failure of my project.
After a thorough review of the related literature, a questionnaire was developed to determine customer preferences and satisfaction levels. The questionnaire was distributed to customers inside the showroom and around the Hosur area.
Statistical tools, including percentages, chi-squares, and ANOVA analysis, are used to identify customer preferences and satisfaction levels. Based on the analysis and interpretation, conclusions for this research are formulated.

OBJECTIVES OF THE STUDY

Primary objectives:

Analyze pricing strategies and factors that affect customer preferences when buying.

Secondary objectives:

  • Determine customer buying behavior.
  • Define customer expectations.
  • Analyze advertising and promotional activities.
  • Monitor overall customer satisfaction.

SCOPE OF THE STUDY

  • To calculate the proposed objectives, the questionnaire is designed for people
  • The scope of this project is up to the customer’s preferred study of Chennai silks, such as varieties, collections, quality, brands, services.
  • The scope of research is limited in Hosur and surroundings.

LIMITATIONS OF THE STUDY

  • Many respondents are not willing to fill out the questionnaire and few are in a hurry.
  • Another problem that I faced is that people are hesitant to give information about their views freely.
  • Surveys are conducted only in Hosur, so results may vary in other parts of the city.
  • Sample size is limited to 300.

CONCLUSION

A survey of people has been conducted to find out the preferences of Chennai silks. It is observed that all the people prefer to buy Chennai silk than others. It is concluded that most people prefer Chennai silks for its quality, service, and atmosphere. Some people tend to like to shop with varieties, brands, etc.
Therefore, it can be concluded from the collected facts that most people refer to buying large packages of clothing of their choice, and sometimes some opt for small packages with the family.

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