Pricing Strategy And Product Performance In The Brewing Industry (A Study Of Nigerian Brewing Industry

ABSTRACT

At various levels of daily transaction, you pay a price. Transaction can never be complete without a decider "price". To the seller, his price is the money which he receives from the buyer while to the buyer; his price is the goods he pays for. The major problem producers normally face in the bias in price setting especially during introduction of new products. This is because they face a lot of questions which include, at what price will I sell my product? Will customers be willing to pay such amount for this product? What will be the performance of the product at that price? To answer the above question, pricing strategy has to be applied as to attain good product performance. Also, during price setting, the producer has to be careful because his price could be interpreted either as an indicator of high or low quality. If a product is well priced, it affects product performance positively, but if not well priced, the reverse is the case. a survey method is used as it is a descriptive study. The sample size is 39 while the instruments in use are questionnaire and chi-square. The questionnaires are distributed for responses to be made while chi-square is used for the analysis. Data collection is done through primary and secondary sources.