Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City

Vitales Joel Kabonda; Salum Matotola; Awadhi Titu Mussa; Shabani Hamisi Mfanga

doi:doi:10.11648/j.ijhtm.20230702.11

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Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City

Vitales Joel Kabonda, Salum Matotola, Awadhi Titu Mussa, Shabani Hamisi Mfanga

Published in International Journal of Hospitality & Tourism Management (Volume 7, Issue 2)

Received: 28 May 2023 Accepted: 21 June 2023 Published: 17 July 2023

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Abstract

Despite the contribution that the Small and Medium Tourism enterprises have in the development of tourism Industry and in the country’s Gross Domestic product (GDP), the performance of these enterprises is still poor and questionable. The study focused on determining the relationship between psychological pricing in terms of odd even pricing and prestige pricing and the performance of Small and Medium Tourism Enterprises located in Arusha city. Purposive sampling was employed to select key respondents who were participants in ensuring data collection activity is successful. The study also used self-administered questionnaires to collect relevant data to answer the research objectives. Linear regression analysis was used to find out the existing relationship between psychological pricing (Odd even pricing and prestige pricing) and the performances of Small and Medium Tourism Enterprises in terms of sales growth. The results revealed that prestige pricing and odd even pricing are significantly related to sales growth of Small and Medium Tourism Enterprises with p value (p=0.000). Therefore, prestige pricing and odd even pricing are the key determinants of performances of Small and Medium Tourism Enterprises in terms of sales growth. The study finally recommended that the management of Small and Medium Tourism Enterprises should see the possibility of using psychological pricing as a strategy to price their tourism products to improve the performance in terms of sales in Tanzania.

Published in	International Journal of Hospitality & Tourism Management (Volume 7, Issue 2)
DOI	10.11648/j.ijhtm.20230702.11
Page(s)	49-55
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2023. Published by Science Publishing Group

Keywords

Pricing, Psychological Pricing, Performance, Small and Medium Tourism Enterprises (SMTEs)

References

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APA Style

Vitales Joel Kabonda, Salum Matotola, Awadhi Titu Mussa, Shabani Hamisi Mfanga. (2023). Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City. International Journal of Hospitality & Tourism Management, 7(2), 49-55. https://doi.org/10.11648/j.ijhtm.20230702.11

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ACS Style

Vitales Joel Kabonda; Salum Matotola; Awadhi Titu Mussa; Shabani Hamisi Mfanga. Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City. Int. J. Hosp. Tour. Manag. 2023, 7(2), 49-55. doi: 10.11648/j.ijhtm.20230702.11

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AMA Style

Vitales Joel Kabonda, Salum Matotola, Awadhi Titu Mussa, Shabani Hamisi Mfanga. Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City. Int J Hosp Tour Manag. 2023;7(2):49-55. doi: 10.11648/j.ijhtm.20230702.11

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@article{10.11648/j.ijhtm.20230702.11,
  author = {Vitales Joel Kabonda and Salum Matotola and Awadhi Titu Mussa and Shabani Hamisi Mfanga},
  title = {Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City},
  journal = {International Journal of Hospitality & Tourism Management},
  volume = {7},
  number = {2},
  pages = {49-55},
  doi = {10.11648/j.ijhtm.20230702.11},
  url = {https://doi.org/10.11648/j.ijhtm.20230702.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijhtm.20230702.11},
  abstract = {Despite the contribution that the Small and Medium Tourism enterprises have in the development of tourism Industry and in the country’s Gross Domestic product (GDP), the performance of these enterprises is still poor and questionable. The study focused on determining the relationship between psychological pricing in terms of odd even pricing and prestige pricing and the performance of Small and Medium Tourism Enterprises located in Arusha city. Purposive sampling was employed to select key respondents who were participants in ensuring data collection activity is successful. The study also used self-administered questionnaires to collect relevant data to answer the research objectives. Linear regression analysis was used to find out the existing relationship between psychological pricing (Odd even pricing and prestige pricing) and the performances of Small and Medium Tourism Enterprises in terms of sales growth. The results revealed that prestige pricing and odd even pricing are significantly related to sales growth of Small and Medium Tourism Enterprises with p value (p=0.000). Therefore, prestige pricing and odd even pricing are the key determinants of performances of Small and Medium Tourism Enterprises in terms of sales growth. The study finally recommended that the management of Small and Medium Tourism Enterprises should see the possibility of using psychological pricing as a strategy to price their tourism products to improve the performance in terms of sales in Tanzania.},
 year = {2023}
}

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TY  - JOUR
T1  - Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City
AU  - Vitales Joel Kabonda
AU  - Salum Matotola
AU  - Awadhi Titu Mussa
AU  - Shabani Hamisi Mfanga
Y1  - 2023/07/17
PY  - 2023
N1  - https://doi.org/10.11648/j.ijhtm.20230702.11
DO  - 10.11648/j.ijhtm.20230702.11
T2  - International Journal of Hospitality & Tourism Management
JF  - International Journal of Hospitality & Tourism Management
JO  - International Journal of Hospitality & Tourism Management
SP  - 49
EP  - 55
PB  - Science Publishing Group
SN  - 2640-1800
UR  - https://doi.org/10.11648/j.ijhtm.20230702.11
AB  - Despite the contribution that the Small and Medium Tourism enterprises have in the development of tourism Industry and in the country’s Gross Domestic product (GDP), the performance of these enterprises is still poor and questionable. The study focused on determining the relationship between psychological pricing in terms of odd even pricing and prestige pricing and the performance of Small and Medium Tourism Enterprises located in Arusha city. Purposive sampling was employed to select key respondents who were participants in ensuring data collection activity is successful. The study also used self-administered questionnaires to collect relevant data to answer the research objectives. Linear regression analysis was used to find out the existing relationship between psychological pricing (Odd even pricing and prestige pricing) and the performances of Small and Medium Tourism Enterprises in terms of sales growth. The results revealed that prestige pricing and odd even pricing are significantly related to sales growth of Small and Medium Tourism Enterprises with p value (p=0.000). Therefore, prestige pricing and odd even pricing are the key determinants of performances of Small and Medium Tourism Enterprises in terms of sales growth. The study finally recommended that the management of Small and Medium Tourism Enterprises should see the possibility of using psychological pricing as a strategy to price their tourism products to improve the performance in terms of sales in Tanzania.
VL  - 7
IS  - 2
ER  -

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Author Information

Vitales Joel Kabonda

Department of Tourism Management, College of African Wildlife Management, Moshi, Tanzania
Salum Matotola

Department of Business Administration and Management, The University of Dodoma, Dodoma, Tanzania
Awadhi Titu Mussa

Department of Tourism Management, College of African Wildlife Management, Moshi, Tanzania
Shabani Hamisi Mfanga

Department of Tourism Management, College of African Wildlife Management, Moshi, Tanzania

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APA Style

Vitales Joel Kabonda, Salum Matotola, Awadhi Titu Mussa, Shabani Hamisi Mfanga. (2023). Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City. International Journal of Hospitality & Tourism Management, 7(2), 49-55. https://doi.org/10.11648/j.ijhtm.20230702.11

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ACS Style

Vitales Joel Kabonda; Salum Matotola; Awadhi Titu Mussa; Shabani Hamisi Mfanga. Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City. Int. J. Hosp. Tour. Manag. 2023, 7(2), 49-55. doi: 10.11648/j.ijhtm.20230702.11

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AMA Style

Vitales Joel Kabonda, Salum Matotola, Awadhi Titu Mussa, Shabani Hamisi Mfanga. Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City. Int J Hosp Tour Manag. 2023;7(2):49-55. doi: 10.11648/j.ijhtm.20230702.11

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@article{10.11648/j.ijhtm.20230702.11,
  author = {Vitales Joel Kabonda and Salum Matotola and Awadhi Titu Mussa and Shabani Hamisi Mfanga},
  title = {Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City},
  journal = {International Journal of Hospitality & Tourism Management},
  volume = {7},
  number = {2},
  pages = {49-55},
  doi = {10.11648/j.ijhtm.20230702.11},
  url = {https://doi.org/10.11648/j.ijhtm.20230702.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijhtm.20230702.11},
  abstract = {Despite the contribution that the Small and Medium Tourism enterprises have in the development of tourism Industry and in the country’s Gross Domestic product (GDP), the performance of these enterprises is still poor and questionable. The study focused on determining the relationship between psychological pricing in terms of odd even pricing and prestige pricing and the performance of Small and Medium Tourism Enterprises located in Arusha city. Purposive sampling was employed to select key respondents who were participants in ensuring data collection activity is successful. The study also used self-administered questionnaires to collect relevant data to answer the research objectives. Linear regression analysis was used to find out the existing relationship between psychological pricing (Odd even pricing and prestige pricing) and the performances of Small and Medium Tourism Enterprises in terms of sales growth. The results revealed that prestige pricing and odd even pricing are significantly related to sales growth of Small and Medium Tourism Enterprises with p value (p=0.000). Therefore, prestige pricing and odd even pricing are the key determinants of performances of Small and Medium Tourism Enterprises in terms of sales growth. The study finally recommended that the management of Small and Medium Tourism Enterprises should see the possibility of using psychological pricing as a strategy to price their tourism products to improve the performance in terms of sales in Tanzania.},
 year = {2023}
}

Copy | Download

TY  - JOUR
T1  - Psychological Pricing and the Performance of Small and Medium Tourism Enterprises (SMTEs) in Arusha City
AU  - Vitales Joel Kabonda
AU  - Salum Matotola
AU  - Awadhi Titu Mussa
AU  - Shabani Hamisi Mfanga
Y1  - 2023/07/17
PY  - 2023
N1  - https://doi.org/10.11648/j.ijhtm.20230702.11
DO  - 10.11648/j.ijhtm.20230702.11
T2  - International Journal of Hospitality & Tourism Management
JF  - International Journal of Hospitality & Tourism Management
JO  - International Journal of Hospitality & Tourism Management
SP  - 49
EP  - 55
PB  - Science Publishing Group
SN  - 2640-1800
UR  - https://doi.org/10.11648/j.ijhtm.20230702.11
AB  - Despite the contribution that the Small and Medium Tourism enterprises have in the development of tourism Industry and in the country’s Gross Domestic product (GDP), the performance of these enterprises is still poor and questionable. The study focused on determining the relationship between psychological pricing in terms of odd even pricing and prestige pricing and the performance of Small and Medium Tourism Enterprises located in Arusha city. Purposive sampling was employed to select key respondents who were participants in ensuring data collection activity is successful. The study also used self-administered questionnaires to collect relevant data to answer the research objectives. Linear regression analysis was used to find out the existing relationship between psychological pricing (Odd even pricing and prestige pricing) and the performances of Small and Medium Tourism Enterprises in terms of sales growth. The results revealed that prestige pricing and odd even pricing are significantly related to sales growth of Small and Medium Tourism Enterprises with p value (p=0.000). Therefore, prestige pricing and odd even pricing are the key determinants of performances of Small and Medium Tourism Enterprises in terms of sales growth. The study finally recommended that the management of Small and Medium Tourism Enterprises should see the possibility of using psychological pricing as a strategy to price their tourism products to improve the performance in terms of sales in Tanzania.
VL  - 7
IS  - 2
ER  -

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