PRICING STRATEGIES FOR MARKETING OF NEW PRODUCT IN ENUGU METROPOLIS (A CASE STUDY OF EXTRA ISOL HOUSEHOLD DISINFECTANT, MADE AND HARDIS AND DROMEDIAS)

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ABSTRACT

This research is an investigation inquiry into the pricing strategies for marketing of new products of extra Isol household disinfectant, A case study of Hardis and Dromedias Limited, located at Enugu, Enugu state, Nigeria. A survey method of research in collecting data firms. The sample used in carrying these research work is random sample, which shows that Hardis and Dromedias adopts both low and high for marketing. The objective of study is to find out or determine how charges in price affect the demand of a product.

Two statistical test are performed to test hypothesis, these are two test sample, proportions and chi-square of 5%. The populations of study consist of consumers retailer who buy these new product (extra isol) and they include students, proble servant and business people who live in Enugu metropolis. Based on finding in this research, it I s recommended that is more advantageous to enter a market with an initial low price rather than high price for new product with view to reviewing it up ward in future. This s advice is based on the firms that customers especially during this time of economic hardship in Nigeria are likely to react more favourable to price increase than price reduction by firms , because they say if you reduce price, customer will feel your product has dropped in quality.

TABLE OF CONTENTS

Title page ii

Approval page iii

Dedication iv

Acknowledgement v

Abstract vi

Table of content viii

CHAPTER ONE

1.1 Background of the study 1

1.2 Brief History of the company 3

1.3 Statement of the problem 4

1.4 Objective of the study 5

1.5 Formulation of Hypothesis 6

1.6 Significance of the study 7

1.7 Definition of terms used 8

Reference 10

CHAPTER TWO

2.1 Overview of pricing 11

2.2 Pricing objectives 12

2.3 Pricing strategies 13

2.4 The Role of pricing in marketing 16

2.5 Factors influencing pricing 18

2.6 Pricing strategies for new products 21

2.7 Pricing strategies for household disinfectants 25

2.8 Pricing strategies used by Hardis and Dromedias limited in marketing of Isol 28

Reference

CHAPTER THREE

3.0 Research methodology 32

3.1 Sources of data collection 32

3.2 Population of the study 33

3.3 Sample size determination 34

3.4 Research Techniques 35

3.5 Research instrument 36

3.6 Data treatment and analysis 38

3.7 Allocation and administration questionnaire 40

CHAPTER FOUR

4.0 Presentation analysis and interpretation of data 41

4.1 Presentation and analysis of data 41

4.2 Test of hypothesis 57

CHAPTER FIVE

5.0 Conclusion and Recommendations 63

5.1 Discussions 63

5.2 Recommendations 64

5.3 Conclusions 66

Bibliography 68

Journal 70

Appendix I 72

Study Questionnaire with covering letter 74

Appendix II 76

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PRICING STRATEGIES FOR MARKETING OF NEW PRODUCT IN ENUGU METROPOLIS (A CASE STUDY OF EXTRA ISOL HOUSEHOLD DISINFECTANT, MADE AND HARDIS AND DROMEDIAS)

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