PERCEIVED GREEN PRICE FAIRNESS AND ENVIRONMENTAL AWARENESS AS PREDICTOR OF CUSTOMER SATISFACTION AMONG CONSUMERS OF NIGERIAN CONSUMER GOODS MANUFACTURER

Abstract

This study investigates the influence of perceived green price and environmental awareness on customer satisfaction amongst consumers of Nigerian consumer goods manufacturing firms. Grounded in stakeholder theory and the Theory of Planned Behaviour. The quantitative cross-sectional research design was adopted, with data collected from a sample of consumers in Lagos State. Structural equation modelling was applied via IBM SPSS AMOS to test the hypothesised relationships. Confirmatory factor analysis confirmed satisfactory construct reliability and validity across all three latent variables, and model fit indices met or exceeded all recommended thresholds. The results show that perceived green price exerts a strong and statistically significant positive effect on customer satisfaction (β = 0.622, p < 0.001), whilst environmental awareness also produces a significant positive effect (β = 0.386, p < 0.001). Perceived green price accounts for the dominant share of explained variance, with the structural model explaining 51.3% of the variation in customer satisfaction. These findings challenge the prevailing assumption that price sensitivity in emerging markets undermines green pricing strategies, and confirm instead that transparent, value-based green pricing substantially raises consumer satisfaction when credibly linked to genuine environmental investment. The study contributes to the cross-cultural validation of stakeholder theory and the Theory of Planned Behaviour in green marketing research and offers actionable guidance for managers and policymakers seeking to advance sustainable consumption in Nigeria.