Customers’ Perception of Quality and Price Value of Prestigious Cars: A Survey of Customers’ Purchasing Decision in Nigeria

observed to motivate superior customers’ choice. Without doubt, buyers of prestigious cars were faced with serious unstable purchasing decision for quality. This is caused by unreliable conditions of the different Abstract: This study was carried out to find out the extent to which quality perception of luxurious cars influenced customer’s perceived price value of a preferred car brand in Rivers- Nigeria. A descriptive survey research method was used in this study. The population of this study was 7,303,900 potential and active buyers of luxurious cars drawn from Rivers State-Nigeria. The sample size of 400 respondents was obtained with the use of Taro Yamene’s sample size techniques cited in Ani (2012). The purposive based stratified sampling procedure was employed in the study toenable the researcher select the representative sample elements of the population interest. A questionnaire comprising ten (20) item questions was used to determine the extent to which quality perception of luxurious cars influenced customer’s perceived price value of a preferred car brand in Rivers State - Nigeria. A test-retest method of the instrument reliability was used and the coefficient result of ‘R’ being . 83, was obtained. The data collected were analyzed using the mean score test and Pearson moment correlation coefficient statistics. Results obtained revealed that ‘There is no significant relationship between the durability, performance, economic and innovative quality of prestigious cars and the customer’s perceived price value of the preferred car brand in Rivers State’. It was advisable that the ‘Car producing and distribution firms should formulate, ‘Sustainable Price Policy Decision (SPPD), establish Quality Responsibility Performance Unit (QRPU), build Economic Quality Services Solution Center (EQSS-Center)’; and employ Innovative Quality Evaluation Techniques’ to oversee issues concerning customers’ quality perception of luxurious cars in Rivers State’. The implication of the finding was that if the producing and distribution firms failed to adopt the above recommendations, it might result in customers’ dissatisfaction in the firm’s brand; and as such, the success of the business operation in Rivers State will be affected. face and content validities of the instrument. The reliability of the instrument with the use of 185 copies of a structured questionnaire administered; shows the computed reliability test result of R=. 83. This indicated considerable evident of reliability in the relationship between the first and second test of reliability of the instrument. A modified 4-point interval measurement approach on Likert scale format cited in (Uzuaguru, 2002), was used in the questionnaire designed to generate data needed for computation. The analysis and interpretation of the mean test result, using the following benchmarks: 1.00 - 1.49(10%-29%) stands for low extent, 1.50 - 2.49(30%-49%) shows moderate extent, 3.50 - 3.49(50%-69%) stands for high extent, and 3.50 & Above (70%-100%) indicates very high extent were employed in the study. The hypotheses of the study were tested, using Pearson’s Product Moment Correlation Co-efficient, which the formula is shown as follows: This study examined the extent to which quality perception of a prestigious car influenced customer’s perceived price value of a preferred car brand in Rivers State. Based on the data collected, analyzed and interpreted, the study reveals that ‘The extent to which the durability, performance, economic and innovative quality perception of a prestigious car influenced customer’s perceived price value of a preferred car brand was moderate in Rivers State’. In line with this, it was concluded that the durability, performance, economic and innovative quality perception of a prestigious car has not only been incompatible with customer’s perceived price value of a preferred car brand, but it resulted in customers switched over from one car brand to another in search for quality value. This confirms the result that,’ there is no significant relationship between the durability, performance, economic and innovative quality of prestigious cars and the customer’s perceived price value of the preferred car brand in Rivers State’. On a large scale, this justifies that the incompatible price value and the perceived qualities of prestigious cars could not confidently, influence customer’s perceived price value of the preferred car brand in Rivers State.