0704-883-0675     |      dataprojectng@gmail.com

THE EFFECT OF PRICING ON THE CONSUMPTION OF PHARMACEUTICAL PRODUCTS IN NIGERIAN HOSPITALS

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

Abstract  

Price is seen as the amount for which a product, service or idea is offered for sales regardless of its worth or value to potential buyers. Where as pricing in the other hand is the process of determining this value and converting it into monetary terms and then making comparison in the market place. The study investigated the influence of price change on consumption of pharmaceutical products, a survey of Nigerian hospitals A.B.U Zaria, Nigeria. This is because price is one of the most flexible of the four elements of the marketing mix. One frequent problem is that businesses are too quick to reduce prices in order to get a sale rather than convincing buyers that their products are worth a higher price. Another common mistake is applying pricing that is too-cost oriented rather than customer-value oriented. These, among others, form the main concern of this study. The researcher employed a descriptive research design. This study was carried out at the Nigerian hospitals A.B.U Zaria. The sample population consisted of 86 employees and 160 current and past customers’. Data collection techniques included questionnaire, participatory observation and interview schedule. The data was organized, presented, analyzed and interpreted using descriptive methods of data analysis. The study concluded that it is clear that the firm sets prices to break-even on the cost of making and marketing a product or setting prices to make a target profit.  The organization determines the prices at which it will break-even or make the target profit it is seeking. Based on the findings, the study recommends that there is need to apply or use more than one pricing strategy to increase sales volume in the company. The study further recommends that the pharmacy should continuously improve the quality of their pharmaceutical products for fair prices as the end result. Suggestions for further research are made on factors determining pricing strategies in organizations are also recommended.





Related Project Materials

A CRITICAL EVALUATION OF STUDENTS INDUSTRIAL WORKING EXPERIENCE SCHEME (SIWES) AND ITS BENEFITS AND CHALLENGES IN NIGERIAN UNIVERSITIES

BACKGROUND OF THE STUDY

Students' industrial work experience scheme (SIWES) is a hands-on program d...

Read more
BENEFITS OF EARLY CHILDHOOD EDUCATION IN FOSTERING GENEROSITY

ABSTRACT: Early childhood education (ECE) plays a vital role in fostering gener...

Read more
THE EFFECT OF DIVIDEND POLICY ON FIRMS’ PERFORMANCE OF NIGERIAN QUOTED COMPANIES

ABSTRACT

Dividend policy is used by listed companies to choose an amount out of its profit to retain and/or pay as dividend to their shar...

Read more
COMPARATIVE STUDY OF THE PERFORMANCES OF GOVERNMENT OWNED AND PRIVATELY OWNED MEDIA ORGANIZATION

EXCERPT FROM THE STUDY

Ownership of the media house, its control and recruitment of its principal staff has formed the i...

Read more
EFFECT OF LAND USE ACT ON PROPERTY DEVELOPMENT IN NIGERIA

ABSTRACT

Real estate development and use of land are prompted primarily by the products and satisfaction that could be derived therefrom....

Read more
DESIGN AND IMPLEMENTATION OF A COMPUTERIZED GRADE EVALUATION SYSTEM (CASE STUDY OF UNIVERSITY OF IBADAN)

ABSTRACT

This research work presents a computerized grade evaluation system that is developed to collect, process, a...

Read more
THE ROLE OF EMOTIONAL INTELLIGENCE IN VOCATIONAL SKILL DEVELOPMENT

ABSTRACT: The Role of Emotional Intelligence in Vocational Skill Development is a critical factor in enhancing students' overall competenc...

Read more
ASSESSMENT OF THE USE, COMPETENCE OF TEACHERS AND STUDENTS IN INFORMATION AND COMMUNICATION TECHNOLOGY IN TERTIARY INSTITUTIONS IN KADUNA STATE, NIGERIA

ABSTRACT

This research work assessed teacher and students‘ competence and the use of Information Communication Technology in Tertia...

Read more
A DISCOURSE ON TRADITIONAL CIRCUMCISION IN MODERN EBONYI STATE SUB-CULTURAL ZONE OF IGBOLAND

ABSTRACT

The dissertation is titled: “A Discourse on Traditional Circumcision in Modern Northeastern Sub-cultural Zone of Igboland&...

Read more
CHALLENGES OF EFFECTIVE TEACHING AND LEARNING OF BUSINESS STUDIES IN SECONDARY SCHOOLS

Background of the study

Education, according to Whitehead (2022), is the process through which society&...

Read more
Share this page with your friends




whatsapp