Examining the Correlation Between Product Pricing and Sales Performance of Sari-Sari Stores

Stephanie Jane S. Garduce, Kathlene Gene C. Dionio, Blessie S. Tamayo, Ramil Jr. M. Budlong and Chrisha Ellaine M. Vale
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Stephanie Jane S. Garduce: Misamis University, Ozamiz City, Philippines
Kathlene Gene C. Dionio: Misamis University, Ozamiz City, Philippines
Blessie S. Tamayo: Misamis University, Ozamiz City, Philippines
Ramil Jr. M. Budlong: Misamis University, Ozamiz City, Philippines
Chrisha Ellaine M. Vale: Misamis University, Ozamiz City, Philippines

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 6, 2900-2918

Abstract: Product pricing is an important aspect of operating a business, especially for sari-sari store owners, who must set prices that attract customers, enhance sales performance, and produce profits. This study investigated the relationship between product pricing and the sales performance of sari-sari businesses in three barangays of Ozamiz City, Philippines that have been operating for three or more years each. The study used a quantitative research design and purposive sampling to identify respondents, focusing on sari-sari store owners who met the given criteria. Data were obtained using a researcher-made questionnaire, and analysis has been done using frequency and percentage, mean and standard deviation, and Pearson correlation coefficient. The findings indicate that product pricing is vital for generating profit. Additionally, both cost and customer demand showed a significant relationship with the sales performance of the stores. However, competition did not exhibit a significant relationship with sales performance. Based on these findings, the researchers recommend that sari-sari store owners carefully consider their pricing strategies, taking into account factors such as cost, customer demand, and competition, to maintain profitability. Furthermore, store owners could manage costs and meet customer demand to avoid sales losses. Future researchers are encouraged to explore other factors in the marketing mix not covered in this study or expand the study’s scope to different settings.

Date: 2024
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