Designing a Price Increase Statement Model in the Ready-Mixed Concrete Industry: An Analytical Approach under Inflationary Conditions

Abstract

Price increases under unstable and inflationary economic conditions represent one of the major challenges for firms operating in the construction industry, particularly companies engaged in the production and supply of ready-mixed concrete. The manner in which such price increases are announced and the design of the related communication message have a direct impact on customer acceptance and the maintenance of stable relationships with stakeholders. Using a quantitative approach, this study identifies and designs an effective model for price increase statements in the ready-mixed concrete industry. The findings indicate that price increase statements are not merely tools for information dissemination but also form part of organizations’ communication strategy. Moreover, the key components influencing customer acceptance include transparency, empathy, appropriate timing, reference to external factors, provision of incentives, and the establishment of channels for direct interaction. The results of statistical analyses showed that transparency and empathy had the greatest effects on customer acceptance. These findings emphasize that price increase statements should be designed as communication tools that simultaneously take into account economic requirements as well as customers’ psychological and social considerations.