The article published in The American Journal of Management and Economics Innovations (Vol. 6, Issue 5) presents an in-depth study of the impact of psychological pricing policies and product quality on marketing excellence. The researchers used several statistical methods to measure the reliability of the questionnaires and assess the relationships between these variables. Here is a summary and analysis of the study’s main findings.
The article is available here: https: //www.theamericanjournals.com/index.php/tajmei/article/view/5091/4747
Reliability of questionnaires
The study measured the reliability of the questionnaires using two methods: split-half and Cronbach’s alpha. The results show a high reliability of the questionnaires, with Cronbach’s coefficients ranging from 0.873 to 0.881 for the different variables studied (psychological pricing policy, product quality and marketing excellence). These results confirm the internal consistency of the questionnaires, making them reliable for researchers.
Statistical methods used
To analyze the data, the researchers used SPSS software (Version 28), and several statistical methods, including:
- Pearson correlation coefficient to identify the relationship between the variables studied.
- Cronbach’s Alpha and Spearman-Brown coefficient to calculate the stability of study tools.
- Simple linear regression to demonstrate the effect of the independent variables (psychological pricing policy and product quality) on the dependent variable (marketing excellence).
Main results
1. Psychological pricing policy
The results show that psychological pricing policy has a significant impact on marketing excellence. Indeed, the correlation coefficients indicate a strong positive relationship (0.518) between these two variables, meaning that the application of effective psychological pricing policies can significantly improve a company’s marketing excellence.
Respondents expressed a high level of agreement regarding the elements of the psychological pricing policy, with an arithmetic mean of 3.74. Only one element received a “neutral” rating, indicating a general consensus on the effectiveness of this strategy.
2. Product quality
Product quality also has a positive effect on marketing excellence, with a correlation coefficient of 0.396. The results show that the higher the quality of a product, the more it is perceived to influence marketing excellence. Respondents expressed strong agreement on three elements of product quality, notably their satisfaction with high-quality products.
Assumptions and linear regression
The study’s hypotheses were validated using simple linear regressions, which showed that psychological pricing policy and product quality explained 26.6% and 8.7% of the variance in marketing excellence respectively. This means that these two factors play a decisive role in marketing success, but that other unstudied variables may also contribute to overall excellence.
Conclusion
This study confirms that companies that implement a psychological pricing policy and focus on product quality can increase their marketing excellence. The results underline the importance of using reliable statistical methods to evaluate marketing strategies and understand their impact on overall company performance.
So, for marketers, it’s crucial to consider these variables as strategic levers in campaign creation and pricing to improve consumer perception and optimize the success of their products in the marketplace.
This article highlights the analytical tools and quantitative approaches essential for measuring the performance and impact of marketing strategies in a competitive environment.
