Activity 5

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Kuala Lumpur Metropolitan University College *

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4024

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Marketing

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Nov 24, 2024

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docx

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ACTIVITY 5 1 Activity 5

ACTIVITY 5 2 Activity 5 The study will use a quantitative research method. Quantitative research is a method of collecting and analyzing numerical data. The research method is used to test hypotheses and make predictions about the relationship between variables. In this study, structured questionnaire will be used to gather data from a sample of consumers, and then statistical analysis will be used to examine the relationship between pricing strategies and consumer purchasing decisions. The use of a quantitative approach will allow for a more objective and rigorous examination of the research questions, as the data can be analyzed using statistical techniques to identify patterns and trends. Nature of the Study The nature of this study will examine the impact of pricing strategies on consumer purchasing decisions. The study will investigate the different types of pricing strategies used by companies and how these strategies influence consumer behavior. The research will focus on both quantitative and qualitative methods to gather data, including surveys and interviews with consumers. The study will also analyze the results of previous research on pricing strategies and consumer behavior to provide a comprehensive understanding of the topic. The findings of this study will provide insights for companies on how to effectively use pricing strategies to influence consumer purchasing decisions. Explication of the Research Methods and the Consistent Alignments The research methods that will be used this study are both qualitative and quantitative in nature. A survey method will be used to collect data from consumers on their purchasing decisions and the influence of pricing strategies on these decisions. The survey will consist of

ACTIVITY 5 3 both open-ended and closed-ended questions to gather both qualitative and quantitative data. The study will also conduct a literature review to gather information on previous studies related to pricing strategies and their influence on consumer purchasing decisions. This will help to provide a theoretical background for the study and to identify gaps in the existing research. Ali & Anwar (2021) aligned their research methods with their research objectives. The survey was designed to gather data on the influence of pricing strategies on consumer purchasing decisions, and the literature review helped to provide a theoretical background for the study. The authors also ensured that the survey questions were relevant to the research objectives and that the data collected was sufficient to answer the research questions. The Nature of the Data and the Procedure for Data Collection The data used in this study is both primary and secondary in nature. Primary data was collected through surveys and interviews with consumers, while secondary data was obtained from various sources such as published research articles, books, and online databases ( Ali & Anwar, 2021). The data collection procedure for this study will involve the following steps: 1. Development of the survey questionnaire: The survey questionnaire will be designed to gather information on consumers' perceptions of pricing strategies and their impact on purchasing decisions. 2. Sample selection: A sample of consumers will be selected from different demographic groups to participate in the survey. 3. Data collection: The survey will be distributed to the selected sample of consumers and collected through online platforms or face-to-face interviews.

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ACTIVITY 5 4 4. Data analysis: The collected data will be analyzed using statistical techniques such as frequency analysis, chi-square tests, and regression analysis to determine the relationship between pricing strategies and consumer purchasing decisions. 5. Validation of the data: The collected data will be validated through the use of pilot testing and triangulation of data sources to ensure the reliability and validity of the results. Data Collection Instrument(s) The data collection instrument(s) that will be used in this study includes: 1. Surveys: A structured survey questionnaire will be developed to gather information from consumers about their purchasing decision-making process, including their perception of different pricing strategies and their impact on their purchasing behavior. The survey questions will be based on previous research and will be pilot-tested to ensure their reliability and validity. 2. Focus groups: Focus groups will be conducted to gather in-depth information about consumer perceptions and attitudes towards pricing strategies. The focus groups will be moderated by a trained facilitator and will be conducted with a diverse group of consumers to ensure a broad range of perspectives. 3. Interviews: In-depth interviews will be conducted with a sample of consumers to gather more detailed information about their purchasing decision-making process and the role of pricing strategies in it. The interviews will be conducted using open-ended questions to allow for a more in-depth exploration of the topic.

ACTIVITY 5 5 The Population and the Sample(s) The population in this study is likely consumers who make purchasing decisions. The sample(s) used in the study could include a specific group of consumers, such as those in a certain age range or income level, who were surveyed or observed to gather data on how pricing strategies influence their purchasing decisions. Research Analytics The data analysis for this study will include a variety of statistical tests to examine the relationship between pricing strategies and consumer purchasing decisions. The analysis will be conducted using statistical software such as SPSS, R, or STATA. The first step in the data analysis will be to clean and organize the data. This will involve checking for missing values, outliers, and any errors in the data. Once the data is cleaned and organized, descriptive statistics will be used to summarize the data and provide an overview of the sample. This will include measures such as means, standard deviations, and frequencies. To examine the relationship between pricing strategies and consumer purchasing decisions, inferential statistics will be used. Inferential statistics allow researchers to make generalizations about a population based on a sample. The following statistical tests will be used in this study:  Chi-square test: To examine the relationship between pricing strategies and consumer purchasing decisions.  ANOVA: To examine the relationship between pricing strategies and consumer purchasing decisions.  T-test: To examine the difference between mean scores for different groups of participants on measures related to pricing strategies and consumer purchasing decisions.

ACTIVITY 5 6 .

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ACTIVITY 5 7 References Ali, B. J., & Anwar, G. (2021). Marketing Strategy: Pricing strategies and its influence on consumer purchasing decision. International journal of Rural Development, Environment and Health Research , 5 (2), 26-39. https://dx.doi.org/10.22161/ijreh.5.2.4

Activity 5

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