Impact of Pricing Strategies on Consumer Purchase Decision of Oraimo Charger in Ilorin, Kwara State

Over the past decade or half, customers have significantly changed their way of buying and have become more demanding than ever before. Hence, the main objective of the study is to examine the impact of pricing strategies on consumer purchase decision of Oraimo charger at Taiwo, Ilorin. The specific objectives include; determine the effect of cost plus pricing on customer loyalty of Oraimo charger in Taiwo, Ilorin, evaluate the impact of competitor based pricing on customer perception of Oraimo charger in Taiwo, Ilorin; investigate the effect of value based pricing on customer retention of Oraimo charger in Taiwo, Ilorin; and determine the impact of price skimming on product quality of Oraimo charger in Taiwo, Ilorin. Survey research design was adopted for the study. Simple random sampling technique was used to select 384respondents who serve as the sample size for this research. From the results of findings, it is statistically concluded that cost-plus pricing strategy adopted for Oraimo chargers in Taiwo, Ilorin, significantly affects customer loyalty. The study also concluded that competitor-based pricing plays a significant role in shaping customer perceptions of Oraimo chargers in Taiwo, Ilorin. The study concluded that value-based pricing positively impacts customer retention for Oraimo chargers in Taiwo, Ilorin and lastly it is concluded that price skimming influences how customers in Taiwo, Ilorin perceive the quality of Oraimo chargers. The study recommended that Oraimo should continue using or refining its cost-plus pricing approach, monitor competitors' pricing strategies to ensure its pricing remains competitive and aligned with customer expectations, prioritize value-based pricing strategies focusing on the perceived benefits and quality and adopt price skimming strategies for newly released high-tech chargers to create a perception of premium quality.