Green Pricing and Consumer Buying Behaviour of Fast Moving Consumer Goods in Lagos State

Green Pricing and Consumer Buying Behaviour of Fast Moving Consumer Goods in Lagos State

Author by Mrs. Saratu Ajike

Language: English

Abstract

reen marketing (proxied by green price) is aimed at the creation and distribution of eco-friendly products and services that not only satisfy consumers' needs and wants, but maintain society's well-being and Genvironmental safety. Patronage of eco-friendly products however appears to be constrained by conflicting perceptions of consumers, among which are that, compared with conventional products, eco-friendly products are too expensive. Thus, companies are using various means to persuade the consumer segments who are environmentally conscious to change their attitudes from the conventional products towards green products. Consequently, this study examined the relationship between green price and consumer buying behaviour of fast moving consumer goods in Lagos State, Nigeria. Descriptive survey research design was adopted for the study. The population of the study consisted of 6,160,991 consumers. The Yamane formular was used to arrive at a sample size of 560. Non-probability and convenience sampling technique was adopted. Cronbach Alpha reliability for constructs is 0.84. The data collected was analyzed using the linear regression analysis. Findings revealed that there was a significant relationship between Green marketing and Consumer Buying Behaviour (r=0.889; r2=0.790; p=0.000). Green Price: r=0.859; r2=0.737; p=0.000, significantly affected consumer buying behaviour. In conclusion, green marketing practices positively influenced consumer buying behaviour of fast moving consumer goods in Lagos State. Green pricing strategy is one of the crucial strategies that cannot be left out by competitive organizations. The study thus recommended that for green products, emphases should be placed on pricing strategy in a synergistic manner.


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