EFFECTIVE PRICING STRATEGIES FOR MARKETING OF NEW PRODUCTS (A CASE STUDY OF ROYALUZ BY HARDIS AND DROMADES LTD, IN ENUGU STATE).

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ABSTRACT

This study focussed 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 informtion, 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 Hardis 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.

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE

1.0Introduction

1.1Background of the study

1.2Statement of the problem

1.3Objective of the study

1.4Formulation of hypothesis

1.5Scope of the study

1.6Definition of term

CHAPTER TWO

2.0Literature review

2.1Overview of pricing

2.2Objective of pricing

2.3Pricing strategies

2.4Factor influencing price (Determination)

2.5Impact of pricing on the marketing of New product

2.6Pricing strategies Adopted for marketing new product.

2.7Pricing strategies for the marketing of Royalux.

CHAPTER THREE

3.0Research methodology

3.1Sources of data

3.2Research instrument used

3.3Population of study

3.4Determination of sample size

3.5Sampling techniques

3.6Method of data analysis and treatment

3.7Questionnaire administration

3.8Limitations of study

CHAPTER FOUR

4.0Data presentation, analysis and interpretation

4.1Presentation and analysis of data

4.2Test of hypothesis

CHAPTER FIVE

5.0Summary of findings, recommendation & conclusion

5.1Summary of findings

5.2Recommendation

5.3Conclusion

Bibliography

Appendix

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EFFECTIVE PRICING STRATEGIES FOR MARKETING OF NEW PRODUCTS (A CASE STUDY OF ROYALUZ BY HARDIS AND DROMADES LTD, IN ENUGU STATE).

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