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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | The Influence of Demographic Characteristics on Price Sensitivity: A Study |
| Authors Name: | Vanlalhruaii Leivang , Prof. L S Sharma |
| Unique Id: | IJSDR2306109 |
| Published In: | Volume 8 Issue 6, June-2023 |
| Abstract: | Price is one of the most important tools of the marketing mix. The pricing strategy and decisions of marketers can largely affect profitability, survival, and revenues. The aim of the study is to understand the connection of demographic variables of customers with customers’ price sensitivity. The five demographic characteristics of customers are age, gender, marital status, occupation, and family annual income level. In total 120 customers participated in the study and data was collected through the survey method in Mizoram. Multiple linear regression, one-way ANOVA, descriptive statistics, and reliability statistics were used to analyse. The five characteristics of customers have a negative correlation to the dependent variable. Occupation has the most negative impact on customers’ price sensitivity. Older customers and high income are less price-sensitive compared to younger ones and low-income level. As demographic characteristics are crucial for understanding the price sensitivity of customers, more authors and researchers should focus on the impact of socio-demographic characteristics on price sensitivity. |
| Keywords: | demographic, price sensitivity, multiple regression |
| Cite Article: | "The Influence of Demographic Characteristics on Price Sensitivity: A Study", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.8, Issue 6, page no.723 - 727, June-2023, Available :http://www.ijsdr.org/papers/IJSDR2306109.pdf |
| Downloads: | 000337350 |
| Publication Details: | Published Paper ID: IJSDR2306109 Registration ID:207209 Published In: Volume 8 Issue 6, June-2023 DOI (Digital Object Identifier): Page No: 723 - 727 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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