Calvin J. Caliat, Maximo L. Abestano Jr., Al-Radzwan J. Daham, Fatima Jasmeen J. Jumaide
Mindanao State University Tawi-Tawi College of Technology and Oceanography, Bongao, Tawi-Tawi, 7500, Philippines
Abstract
Pricing is one of the determining factors in assessing gross sales and profit, especially in vegetable vendors. Pricing techniques shall be assessed to reach long-term profitability. This study examines how vegetable vendors of Bongao Public Market decide on prices. Five standard pricing methods were explored, including adding a markup to costs, pricing based on competitors, setting prices according to perceived value, setting high prices then lowering them over time, and adjusting with low prices to gain market share. Fifty respondents were chosen to participate in this study through simple random sampling. This study used surveys, interviews, and market observations. The findings show that vendors are aware of pricing techniques. They use different strategies depending on factors like production costs, competition, and customer preferences. This study aimed to help vendors and others in the vegetable business make better decisions by understanding these pricing methods and their effects.
Keywords: Pricing, Pricing Strategies, Vendors, Vegetables Vendors
Journal Name :
EPRA International Journal of Multidisciplinary Research (IJMR)

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Published on : 2024-10-29

Vol : 10
Issue : 10
Month : October
Year : 2024
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