THE INFLUENCE OF PRICING STRATEGIES ON SALES PERFORMANCE
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THE INFLUENCE OF PRICING STRATEGIES ON SALES PERFORMANCE
This research explores the influence of pricing strategies on sales performance. Objectives are: (1) to analyze the impact of various pricing strategies on sales, (2) to determine the optimal pricing strategy for different market segments, and (3) to assess customer reactions to price changes. A survey design is chosen for its efficiency in collecting large-scale data. Using Taro Yamane's formula, the sample size is 340, ensuring representativeness. The case study focuses on the electronics industry in Lagos, Nigeria, where pricing strategies play a crucial role. The reliability coefficient score is 0.84, indicating consistent results. Findings reveal that competitive pricing and value-based pricing are the most effective in enhancing sales performance. Customer sensitivity to price changes is also significant. Recommendations include adopting a flexible pricing strategy that considers market conditions and consumer preferences
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