Customers' Perception of Quality and Price Value of Prestigious Cars: A Survey of Customers' Purchasing Decision in Nigeria

Abstract

This study was carried out to find out the extent to which quality perception of luxurious cars influenced customer's perceived price value of a preferred car brand in Rivers- Nigeria.  A descriptive survey research method was used in this study. The population of this study was 7,303,900 potential and active buyers of luxurious cars drawn from Rivers State- Nigeria. The sample size of 400 respondents was obtained with the use of Taro Yamene's sample size techniques cited in Ani (2012). The purposive based stratified sampling procedure was employed in the study toenable the researcher select the representative sample elements of the population interest. A questionnaire comprising ten (20) item questions was used to determine the extent to which quality perception of luxurious cars influenced customer's perceived price value of a preferred car brand in Rivers State - Nigeria. A test-retest method of the instrument reliability was used and the co-efficient result of ‘R' being .83, was obtained. The data collected were analyzed using the mean score test and Pearson moment correlation coefficient statistics. Results obtained revealed that ‘There is no significant relationship between the durability, performance, economic and innovative quality of prestigious cars and the customer's perceived price value of the preferred car brand in Rivers State'. It was advisable that the ‘Car producing and distribution firms should formulate, ‘Sustainable Price Policy Decision (SPPD), establish Quality Responsibility Performance Unit (QRPU), build Economic Quality Services Solution Center (EQSS-Center)'; and employ Innovative Quality Evaluation Techniques' to oversee issues concerning customers' quality perception of luxurious cars in Rivers State'. The implication of the finding was that if the producing and distribution firms failed to adopt the above recommendations, it might result in customers' dissatisfaction in the firm's brand; and as such, the success of the business operation in Rivers State will be affected.