Key Features:
Pages: 118
Chapters: Five
Format: Ms word
Delivery Rate: Fast
Abstract:
This study was intended to evaluate the impact of pricing on profitability level of an organization. This study was guided by the following objectives; to establish the efficiency and effectiveness of pricing policy in selected firms. To find out the various factors that influence pricing decisions in selected firms. To determine if pricing decision (s) can make an impact on a firm’s profit and efficiency. To investigate if profit planning (or budgeting) can result in cost reduction and increased profit performance. To make recommendation based on the findings of this study to the management of firms.
The study employed the descriptive and explanatory design; questionnaires in addition to library research were applied in order to collect data. Primary and secondary data sources were used and data was analyzed using the correlation statistical tool at 5% level of significance which was presented in frequency tables and percentage. The respondents under the study were 42 employees of the cresent spring water and winco foam ltd Awka.
The study findings revealed that pricing policy of a firm has an influence on the degree to which firm can achieve optimum profitability; based on the findings from the study, efforts should be made by entrepreneurs in ensuring a profitable and competitive pricing policy.
Table of Content:
TABLE OF CONTENTS
Title Page - - - - - - - - - i
Approval Page - - - - - - - - ii
Declaration - - - - - - - - iii
Dedication - - - - - - - - - iv
Acknowledgement - - - - - - - v
Abstract - - - - - - - - - vi
Table of Contents - - - - - - - vii
CHAPTER ONE – INTRODUCTION
1.1 Background of the Study - - - - -
1.2 Statement of the Problem - - - -
1.3 Objective of the Study - - - - - -
1.4 Research Questions - - - - - -
1.5 Significance of the Study - - - - -
1.6 Scope of the Study - - - - - -
1.7 Definition of Terms - - - - - -
CHAPTER TWO – REVIEW OF RELATED LITERATURE
2.1 pricing and pricing decision -- - - - -
2.2 The importance of pricing - - - -
2.3 objectives of pricing - - - -
2.4 factors affecting pricing - - - - -
2.5 theoretical background to pricing - - - - - - -
2.6 pricing approaches - - - -
2.7 pricing policies - - -
2.8 pricing strategies - - - - - -
2.9 profit planning - - - - - - -
CHAPTER THREE – RESEARCH METHODOLOGY
3.1 Introduction - - - - - - -
3.2 Research Design - - - - - -
3.3 Area of the Study - - - - - -
3.4 Population of Study - - - - - -
3.5 Sample size and Sampling Techniques - - -
3.6 Instrument for Data Collection - - - -
3.7 Validity of the Instrument - - - - -
3.8 Reliability of the Instrument - - - -
3.9 Method of Data Collection - - - - -
3.10 Method of Data Analysis - - - - -
CHAPTER FOUR – DATA PRESENTATION AND ANALYSIS
4.0 Introduction - - - - - - -
4.1 Data Presentation and Analysis - - - -
4.2 Characteristics of the Respondents - - -
4.3 Data Analysis - - - - - - -
4.4 Testing Hypothesis - - - - - -
4.5 Summary of Findings - - - - - -
4.6 Discussion of Findings - - - - -
CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATION
5.0 Introduction - - - - - - -
5.1 Summary - - - - - - - -
5.2 Conclusion - - - - - - - -
5.3 Recommendations - - - - - -
References - - - - - - - -
Appendix - - - - - - - -
Introduction:
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF STUDY
One of the most crucial operating decisions management must make is establishing a setting price for its products but this is quiet unfortunately that many firms are still mismanaging pricing causing lots of money and anticipated profit to be unexplored and wasted.
However in explaining the importance of pricing, Egbunike (2007:83) sustained that setting the price for an organizations product or service is one of the most difficult, due to some number of variety of factors that must be considered. The primary decision arises in virtually all types of organization, just to mention but a few of them such as manufacturers set prices for their products, they manufacture, merchandising companies set prices for their goods, service firms set prices for such services as insurance policies, bank loans etc.
A company’s survival and profitability depends upon its pricing decisions, thus price is the only element in the marketing mix that produce s revenue and thus ensures profit ability (kotler and keller 2006:475) Price adopted by firms must be able to cover all cost in the long run as well as to leave a profit margin to reward management.
The Price of a Product has a direct relationship with many operations of the firm’s activities. A price decision will affect demand and this in turn affects the revenue generated by the firm. Similarly, a firm which makes profit has the propensity of attracting more new capital. This shows that the public has confidence in the ability of the firm to yield return to them. So, the performance of management is usually measured by the amount of revenue it generates to satisfy the share holders of the organization.
It is evident that management has a big responsibility before them in setting and adopting the most advantageous pricing policy and the most effective profit plan for their firms, since prices are not set arbitrarily therefore management must focus on all the important factors in setting its price. Thus, it has become imperative to investigate the effectiveness of pricing policy and profit planning in Nigerian organizations.
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