THE IMPACT OF PRICING STRATEGY ON SALES PERFORMANCE
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Abstract
The study examined effect of pricing strategy on sales performance, a study of Unilever Nigeria Plc.
The study employed the survey design and the purposive sampling technique to select 450 staff across management, senior and junior level. A well-constructed questionnaire, which was adjudged valid and reliable, was used for collection of data from the respondents. The data obtained through the administration of the questionnaires was analyzed using the Pearson correlation analysis. The results showed that there is a positive and significant relationship between Pricing skimming and customer retention (r=0.772; p<0.05). a positive and significant relationship between Penetration strategy and firm’s market share (r=.896; p<0.05). a positive and significant relationship between market parity and sales volume (r=0.772; p<0.05).
The study concluded that; pricing strategy has a significant effect on sales performance in Unilever Nigeria Plc.
The study suggested that; Unilever Nigeria PLc should perform a comprehensive market research to study the market for effective pricing decision and strategy to later improve manufacturing sales; Marketing and sales managers should get sufficient training in strategic management which will help them set effective prices that would increase their sales; Marketing and sales managers should employ well thought out strategies that would help them improve on sales and their competitiveness; The government should review manufacturing competitive pricing policy and effect price control to ensure a level playing field to safeguard the manufacturing sector from undue and unfair competition.
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