This study focused on effective pricing strategies for marketing of New products a case study of Royalux by Hardis and Dromades. The objectives of the study are as follows.
– To determine the methods used by Hardis and Dromades in setting prices for their new product – Royalux.
– To determine how prices of Royalux affect its demand, position and market shares.
– To find out how customers respond to different prices of different quality of products.
The scope of the study was limited to Enugu Metropolis. In sourcing for the required information, the researcher used both primary and secondary data which collected through oral interviews and administration of three sets of questionnaire one for the management and relevant staff of Hard is and Dromades, others for consumer and distributors. Bowloy’s formular was used to determine the sample size of consumers while Topmans formular was used for Distributors whist a census survey was used for the management/ relevant staff of Hardis and Dromades. Data were organized, analysed, interpreted and summaried using tables, percentages, pie chart and histogram, and chi-square statistics were used to test the three hypotheses formulated.
Based on the analysis, the following finding were made;
– That Hardis and Dromades products become a household name in Enugu.
– That the firms cost of production was given the highest consideration in setting price for Royalux.
– The high cost of transportation and handling cost contributed to increase in price of Royalux
– That the wholesales and consumer of Hardis product were encourage to a reasonable price to buy Royalux.
1.0 Introduction
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Formulation of hypothesis
1.5 Scope of the study
1.6 Definition of term
2.0 Literature review
2.1 Overview of pricing
2.2 Objective of pricing
2.3 Pricing strategies
2.4 Factor influencing price (Determination)
2.5 Impact of pricing on the marketing of New product
2.6 Pricing strategies Adopted for marketing new product.
2.7 Pricing strategies for the marketing of Royalux.
3.0 Research methodology
3.1 Sources of data
3.2 Research instrument used
3.3 Population of study
3.4 Determination of sample size
3.5 Sampling techniques
3.6 Method of data analysis and treatment
3.7 Questionnaire administration
3.8 Limitations of study
4.0 Data presentation, analysis and interpretation
4.1 Presentation and analysis of data
4.2 Test of hypothesis
5.0 Summary of findings, recommendation & conclusion
5.1 Summary of findings
5.2 Recommendation
5.3 Conclusion
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Marketing operates within a dynamic environment and today’s companies are wreathing with customer values and orientations; economic stagnation, environmental decline, increased global competition, and a host of other economic political, social and pricing challenges which if Ignored will be detrimental to the company. Marketing is concerned with getting the right product to the right customer at the right price.
Terms of Use: This is an academic paper. Students should NOT copy our materials word to word, as we DO NOT encourage Plagiarism. Only use as a guide in developing your original research work. Thanks.
Disclaimer: All undertaking works, records, and reports posted on this website, eprojectguide.com are the property/copyright of their individual proprietors. They are for research reference/direction purposes and the works are publicly supported. Do not present another person’s work as your own to maintain a strategic distance from counterfeiting its results. Use it as a guide and not duplicate the work in exactly the same words (verbatim). eprojectguide.com is a vault of exploration works simply like academia.edu, researchgate.net, scribd.com, docsity.com, course hero, and numerous different stages where clients transfer works. The paid membership on eprojectguide.com is a method by which the site is kept up to help Open Education. In the event that you see your work posted here, and you need it to be eliminated/credited, it would be ideal if you call us on +2348064699975 or send us a mail along with the web address linked to the work, to eprojectguide@gmail.com. We will answer to and honor each solicitation. Kindly note notification it might take up to 24 – 48 hours to handle your solicitation.