The Perception of Selected Students from De La Salle University-Dasmariñas on the Pricing Strategy in Quick Service Restaurants

Abstract: Quick Service Restaurants (QSRs) have become the best option for a customer wants to eat something good, affordable, and easily prepared. With such stiff competition, different QSRs market their company through their wide variety of product offerings as well as making use of creative pricing strategies. Pricing the products correctly can enhance how much a person sells and can also create the foundation for a business that will prosper. The impact of price and the consumer’s purchase decisions are very dependent on each other. This quantitative descriptive research proved that there are many factors that can influence the consumer’s decision. It also determined the perception of 100 respondents/students from De La Salle University- Dasmariñas regarding the effectiveness of the pricing strategies used in QSRs. Based on the results, affordability is the most important factor that a customer considers when buying a product. This is followed by value for money and then appeal. All these factors have influence, to a certain extent, the customer’s decision. The study also presented that there is no significant relationship between the respondents’ demographic profile and their perception of the effectiveness of the pricing strategies used in QSRs. Therefore, the null hypothesis was accepted. Furthermore, the results of the most preferred pricing strategy showed that product line is rank1, bundle is rank 2, psychological is rank 3, and premium pricing is rank 4. As part of the recommendations, the researchers suggested to test the effectivity of the 6 other pricing strategies which include Penetration, Skimming, Competition, Cost Plus, Cost-Based, and Optional Product Pricing. Another recommendation is to include more respondents from different communities and age groups that will enable the study to be more extensive and have a broader scope in terms of demographics. Lastly, the researchers formulated a set of marketing strategies on product and pricing (product line, bundle, psychological, and premium pricing) in accordance with the results of the study. Keywords: Quick Service Restaurants, QSRs, Pricing Strategy, Perception. Title: The Perception of Selected Students from De La Salle University-Dasmariñas on the Pricing Strategy in Quick Service Restaurants Author: Sarah Nicole C. Abatayo, Patricia P. Anda, Lauren Danielle S. Rico, Ms. Anna-Liza A. Tibayan International Journal of Thesis Projects and Dissertations (IJTPD) Vol. 10, Issue 3, July 2022 - September 2022 Page No: 41-59 Research Publish Journals Website: www.researchpublish.com Published date: 21-July-2022 DOI: https://doi.org/10.5281/zenodo.6881297 Paper Download Link (Source) https://www.researchpublish.com/papers/the-perception-of-selected-students-from-de-la-salle-university-dasmarias-on-the-pricing-strategy-in-quick-service-restaurantsInternational Journal of Thesis Projects and Dissertations (IJTPD), Research Publish Journals (Publisher), Website: www.researchpublish.co