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IMPACT OF PRICING POLICIES ON PROFITABILITY: A CASE STUDY OF NIGERIA WIRE AND CABLES, IBADAN

Table of contents

Table of Contents                                                                                       vi

List of Tables                                                                                             ix

CHAPTER ONE: Introduction                                                                    1

1.1      Background to the study                                                                   1

1.2      Statement of the Problem                                                                 4

1.3      Objective of the Study                                                                      6

1.4      Research Questions                                                                          6

1.5      Research Hypotheses                                                                       7

1.6      Significance of the Study                                                                  7

1.7      Scope of the Study                                                                           8

1.8      Operational Definition of Terms                                                       8

CHAPTER TWO                                                                                       9

Literature Review                                                                                       9

2.0      Introduction                                                                                     9

2.1      Conceptual Review                                                                          9

2.1.1   Pricing and Pricing Decision                                                             9

2.1.2   Objective of Price                                                                            11

2.1.3   Profitability Objectives                                                                     13

2.1.4   Pricing Methods                                                                               14

2.1.5   Pricing Approaches                                                                          19

2.1.6   Causes of Product Price Change                                                       19

2.2      Theoretical Review                                                                          24

2.2.1   Naive Pricing Theory                                                                       25

2.2.2   Game Pricing Theory                                                                       26

2.2.3   Arbitrage Pricing Theory                                                                  27

2.2.4   Consumer Theory                                                                            28

2.3      Empirical Review                                                                            30

CHAPTER THREE: Research Methodology                                               33

3.1      Introduction                                                                                     33

3.2      Research Design                                                                              33

3.3      Population of Study                                                                          33

3.4      Sample and Sampling Technique                                                      33

3.5      Sources of Data and Collection Strategies                                         34

3.6      Research Instrument                                                                         34

3.7      Administration of Research Instrument                                             35

3.8      Validity of the Instrument                                                                 35

3.9      Reliability of the Instrument                                                             36

3.10    Method of Data Analysis                                                                  36

3.11    Limitation of the Study                                                                     36

CHAPTER FOUR: Data Presentation, Analysis and Interpretation of Results 37

4.1      Presentation and Analysis of Data                                                     37

4.2      Testing of Hypotheses                                                                      40

4.2.3   Summary of Findings                                                                       41

CHAPTER FIVE: Discussion, Conclusion and Recommendations                     43

5.1      Discussion of Findings                                                                     43

5.2      Conclusion                                                                                     44

5.3      Recommendations                                                                            45

References                                                                                                 46

APPENDIX: Questionnaire                                                                        52

LIST OF TABLES

Table Title                                                                                     Page

4.1.1  Sex Distribution of Respondents                                        37

4.1.2  Age Distribution of Respondents                                        38

4.1.3  Educational Qualification of Respondents                         38

4.1.4  Working Experience of Respondents                                 39

4.1.5  Management Level of Respondents                                    39

4.2.1  Result Summary for Hypothesis One                                 49

4.2.2  Result Summary for Hypothesis Two                                 41

Abstract

Pricing decision is a crucial decision every organization has to make, because this will eventually affect their corporate objectives, either directly or indirectly. For pricing to be effective, firms must incorporate factors like manufacturer’s pricing objective, economic situation, level of competition, and availability of close substitute in selecting the most advantageous price for its product. At times, firms are not in the habit of considering these factors and this has led to the shutting down of many factories, downsizing of workforce and in most cases, winding up of firms. This study therefore investigated the impact of pricing policies on profitability using Nigeria Wire and Cables in Ibadan, Oyo State, Nigeria as case study. The study employed descriptive survey research design with a sample size of sixty three respondents. Questionnaire was designed for testing the two hypotheses derived. The hypotheses were tested using ANOVA. The findings of the study revealed that pricing Policy of a firm have a significant influence on the degree to which a manufacturing firm can achieve optimum profitability. It showed that effective profit planning has effect on the profitability of manufacturing firms. Among other recommendations of the findings is that managers must always monitor the marketplace to determine prices that customers are willing to pay for products or service, if they must succeed, and that, price policy should be adopted on product for a group with similar propensity to consume.

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