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Psychological Factors And Consumer Purchasing Decision Of Alcohol In The Context Of Dynamic Pricing In Ekiti State, Nigeria
- Ajayi, O. M.* Ekiti State University
- Areola, T. O Ekiti State University
- Sadamoro, F Ekiti State University
- Received May 2025, 1st Revision June 2025, Accepted July 2025, Published online: August 2025
Abstract
This study examined the factors influencing consumers purchase decision of alcohol in the context of dynamic pricing in Ekiti State, Nigeria. The study population consists of transporters, including motor drivers and Okada riders, in the designated areas. This is based on the high consumption of alcoholic beverages among the residents of Ekiti. The study employed descriptive research survey design. Result from the findings revealed that consumer purchase decisions for alcohol beverages in Ekiti State are significantly influenced by factor such as psychological, within the context of dynamic pricing. This is demonstrated and supported by the regression coefficients (R, R2, and Adj. R2) at a significance level of 5%, along with the T-test and F-distribution value. The correlation coefficient (R) is 0.667, indicating a significant and positive association between psychological factors and consumer purchase decisions regarding alcohol beverages. The R2 represents the proportion of the total variance in the dependent variable that can be accounted for by the variance in the independent variables. The obtained results indicate that R2 is 0.545, suggesting that psychological factors account for 54.5% of the variance in consumer purchase decisions of alcohol drinks. This is supported by the adjusted R2 value of 0.540, indicating that the model’s goodness of fit is 54%. The study recommended that the management of alcohol beverage brands should prioritize psychological factors, environmental factors and seasonality as they have the potential to influence consumers’ decisions to purchase a particular alcohol brand.
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KEYWORDS: motivation, price, attitude, purchase decision