SALES PROMOTION AND CUSTOMER BRAND OF MANUFACTURING FIRMS IN YENAGOA BAYELSA STATE, NIGERIA.

Abstract

The study aims to evaluate the impact of pricing strategies on customer brand loyalty at a water bottling company in Yenagoa, Bayelsa State, with a particular focus on Aqua-lina Refreshing Water. Specifically, it examines the relationship between cost-based and competition-based pricing and their effects on customer loyalty. The research involves all 28 employees of the company, using the entire population for the study. Data will be collected through a self-administered questionnaire and analyzed using the Spearman Rank Order Correlation Coefficient. The findings reveal a significant positive relationship between pricing strategies cost-based, competition-based, and customer-perceived value-based pricing and customer brand loyalty. The analysis shows high correlation coefficients with p-values of 0.000, confirming the rejection of the null hypotheses and demonstrating the strong influence of these pricing strategies on loyalty. The study concludes that cost-based pricing positively impacts customer brand loyalty, as transparency in how prices are determined strengthens customer trust. Similarly, competitive-based pricing is crucial for retaining price-sensitive customers and maintaining market share. By focusing on strategic pricing approaches, including clear communication of costs and consistent monitoring of competitors, the company can enhance customer loyalty and sustain its market position. Ultimately, the study underscores the importance of aligning pricing strategies with customer expectations and market dynamics to build and maintain strong customer loyalty within the competitive environment of the water bottling industry in Yenagoa, Bayelsa State.