Smes managers’ ratings of pricing policies for marketing of consumers’ goods in abia state, nigeria

Q3 Decision Sciences
Nwaukwa Faith Chukwudi
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Abstract

The survival of SMEs in Abia State depends on their ability to dispose of goods produced. It is through marketing the goods that SMEs reach the customers, recover money used for production, and make profit in return. This study was carried out to determine the pricing policies adopted by SMEs managers in marketing consumers’ goods in Abia State, Nigeria. Two research questions and two null hypotheses guided the study. Survey research design was adopted, and the population of the study consisted of 1,809 SMEs managers in Abia State. A sample size of 328 SMEs managers was selected using Taro Yamane formula. The sampling technique was a proportionate random sampling. A structured questionnaire which was validated by three experts in the field of educationand marketing was used for data collection. Structured questionnaire titled “Utilization of Pricing Policies in Marketing Consumer Goods Questionnaire (UPP-MCGQ)”, containing 15 items was used for data collection. The reliability of the instrument was established using pilot-testing and data collected were analyzed using Cronbach Alpha formula which yielded correlation coefficients of 0.86 and 0.91 for clusters B1 and B2 respectively with an overall value of 0.89. Data collected were analyzed using mean, standard deviation and ANOVA to answer the research questions and test the null hypotheses at 0.05 level of significance. Findings revealed that SMEs managers utilize value based pricing policies in marketing their goods to a small extent while they utilize dynamic pricing policy to a high extent. Years of experience were not significant factors on the extent SMEs managers utilize value based and dynamic pricing policies in marketing consumer goods. It was concluded that SMEs managers must ensure that their prices elicit the required demand of their products to cover business costs and make profit in the marketplace. The researcher recommended among others that, managers of SMEs should focus more on understanding customers’ value of their goods to enable them effectively set prices that will stimulate sales and generate profit.
尼日利亚阿比亚州中小企业管理者对消费品营销定价政策的评价
阿拉伯国家中小企业的生存取决于它们处理所生产商品的能力。中小企业是通过营销商品到达客户,收回用于生产的资金,并获得利润的回报。本研究旨在确定尼日利亚阿比亚州中小企业管理者在营销消费者商品时采用的定价政策。两个研究问题和两个零假设指导了研究。采用调查研究设计,研究对象为Abia State中小企业管理者1809人。采用Yamane太郎公式,选取328名中小企业管理者作为样本。抽样方法为比例随机抽样。数据收集采用了一份结构化问卷,该问卷由三名教育和营销领域的专家进行了验证。数据收集采用结构化问卷《消费品市场定价政策运用调查问卷(UPP-MCGQ)》,共15项。采用先导试验建立仪器的可靠性,采用Cronbach Alpha公式对收集的数据进行分析,得出B1类和B2类的相关系数分别为0.86和0.91,总分为0.89。收集的数据采用均值、标准差和方差分析来回答研究问题,并在0.05的显著性水平上检验原假设。研究发现,中小企业管理者在产品营销中使用基于价值的定价政策的程度较低,而使用动态定价政策的程度较高。在中小企业管理者利用基于价值和动态定价政策营销消费品的程度上,多年的经验并不是显著因素。得出的结论是,中小企业管理者必须确保他们的价格引起所需的需求,他们的产品,以支付业务成本,并在市场上获利。研究人员建议,中小企业的管理者应该更多地关注了解客户对其商品的价值,使他们能够有效地设定价格,从而刺激销售并产生利润。
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来源期刊
Journal of Management Information and Decision Science
Journal of Management Information and Decision Science Decision Sciences-Information Systems and Management
自引率
0.00%
发文量
25
期刊介绍: Journal of Management Information and Decision Sciences (JMIDS) is a reputed open access journal affiliated to Allied Business Academies. The journal focuses on disseminating the latest research in the field of management information system and its role in decision making, as well their relationships to cognate disciplines including Economics, Finance, Management, Management Science, Marketing, Statistics, Operations Research and Engineering. The journal adheres to stringent double blind peer review policy to maintain the publication quality.
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