An Evaluation of Pricing Strategies in the Consumer Goods Industry: A Case Study of Dangote Flour Mills
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Background of the Study
The consumer goods industry in Nigeria is a significant contributor to the economy, providing essential products to the populace while generating employment and fostering economic growth. Pricing strategies play a crucial role in this sector, as they directly influence market competitiveness, customer acquisition, and profitability. Dangote Flour Mills, a leading producer of flour-based products, operates in a highly competitive and price-sensitive market (Oluwafemi et al., 2024).
Pricing strategies encompass a range of approaches, including cost-plus pricing, competitive pricing, and value-based pricing, each designed to meet specific business objectives. For companies like Dangote Flour Mills, balancing cost efficiency, customer affordability, and profit margins is a continuous challenge, particularly in the face of fluctuating raw material costs, inflation, and economic instability (Adebayo & Uchenna, 2023).
This study evaluates the pricing strategies employed by Dangote Flour Mills, exploring their effectiveness in achieving market share growth and customer satisfaction while ensuring financial sustainability.
Statement of the Problem
In the consumer goods industry, ineffective pricing strategies can lead to reduced profitability, loss of market share, and diminished customer loyalty. Dangote Flour Mills, despite its strong market presence, faces challenges related to rising production costs, currency devaluation, and stiff competition, which complicate the implementation of optimal pricing strategies (Ibrahim, 2025).
Existing literature has focused on pricing in the broader consumer goods sector, with limited research specifically examining the strategies employed by Dangote Flour Mills. This study aims to address this gap by critically analyzing the company's pricing strategies and their impact on its competitive position and financial performance.
Objectives of the Study
1. To examine the pricing strategies adopted by Dangote Flour Mills.
2. To evaluate the effectiveness of these strategies in achieving business objectives.
3. To recommend improvements to enhance pricing strategy outcomes.
Research Questions
1. What pricing strategies are employed by Dangote Flour Mills?
2. How effective are these strategies in achieving market share and profitability?
3. What improvements can be made to optimize the company’s pricing strategies?
Research Hypotheses
1. Pricing strategies significantly impact the profitability of Dangote Flour Mills.
2. Ineffective pricing strategies contribute to reduced market competitiveness.
3. Improved pricing strategies enhance customer satisfaction and market share.
Scope and Limitations of the Study
The study focuses on the pricing strategies of Dangote Flour Mills, analyzing their application and impact on market performance. Limitations include the dynamic nature of pricing influenced by external economic factors and the potential lack of access to proprietary company data.
Definitions of Terms
• Pricing Strategies: Methods used by businesses to set prices for their products or services.
• Consumer Goods Industry: A sector that produces goods intended for direct consumption by individuals.
• Market Share: The proportion of an industry’s total sales captured by a specific company.
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