THE ROLE OF MANAGEMENT ACCOUNTING IN PRICING DECISIONS AND ITS IMPACT ON PROFITABILITY AND MARKET COMPETITIVENESS
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Abstract:
This research explores the role of management accounting in pricing decisions in Lagos State, Nigeria. The objectives are to: (1) assess how management accounting practices influence pricing strategies, (2) evaluate their impact on profitability and market competitiveness, and (3) analyze the challenges of integrating management accounting with pricing decisions. A survey design was employed to collect data from financial managers and marketing officers. The sample size, determined using Taro Yamane's formula, ensures statistical validity. Nestlé Nigeria Plc was chosen as the case study due to its strategic pricing practices. The reliability coefficient score of the survey was 0.93. Findings reveal that management accounting significantly influences pricing strategies, enhancing profitability and market competitiveness. However, challenges such as data accuracy and alignment with market conditions were noted. It is recommended that companies in Lagos State integrate management accounting practices with pricing strategies to improve profitability and competitiveness.
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