ABSTRACT
This study aimed to explore the use of effective pricing strategies in a competitive market within the municipality of Tuy, Batangas. It focused on how various pricing techniques are applied to enhance business competitiveness and customer retention.
The participants in the study were thirty (30) business owners and employees from different industries within Tuy, using a correlational quantitative research method. Purposive sampling was employed based on the following criteria: (1) they must be an employee or business owner actively involved in pricing decisions, and (2) they must reside or operate their business within the Municipality of Tuy, Batangas.
The researcher conducted a survey specifically designed to gather essential data regarding the respondents' profiles, including age, sex, and economic status. The survey also aimed to assess the effectiveness of using various pricing strategies in a competitive market within the municipality of Tuy, Batangas. Key factors such as quality and price of the profucts were considered to determine how pricing strategies influence business success and competitiveness.
The study yielded the following findings: it shows that most of the respondents are between the ages of 21-24, the majority of them are female respondents rather than male respondents. Most of the respondents earned 5,000 below. Among the two factors studied—quality of products and price of the products—quality had the greatest significance in determining competitiveness in the market. Based on these findings, the strategic pricing plan developed can serve as a guide for businesses in Tuy, Batangas, helping them make informed decisions on how to adjust their pricing strategies and improve product quality to gain a competitive advantage.
Keywords: Competitive Market, Pricing Strategies, Product Quality, Price of the Product, Municipality of Tuy, Strategic Pricing Plan