You have no items in your shopping cart.
ABSTRACT
Pricing is a very complex decision for companies when launching a new product. The aim of this study is to evaluate the influence of pricing on the sales of a new product and highlight the factors that affect the pricing decision for a new product using a new Coca-Cola drink in Ugbowo, Benin City, Edo State as a case study. This research employed a quantitative design with data collection done using a questionnaire. 400 (four hundred) respondents filled the questionnaire for the research. The researcher used descriptive analysis and Pearson Correlation to analyze the data. The result of of the research revealed that pricing strategy affects the sales of a new product. Also, the price of a new product affects the buying habits of consumers. The factor that affects the price of a new product includes the cost of production, level of competition, economic factors, and the level of demand. The study recommended that companies use penetration or skimming pricing strategy for a new product and conduct market survey before setting a price on their product.
