SELECTED FIRMS

This study examined and analyzed the effect pricing policies on profitability level of manufacturing firms. Data were primarily sourced through the administration of fifty (50) questionnaire out of which same number (50) of responses were retrieved and used for the empirical analysis. The descriptive (frequency, mean and percentage) and inferential statistics (regression) were adopted for the study’s analysis. Specifically, the analysis revealed the following: cost-plus pricing and competitive pricing strategies have a significant impact on the profitability level of manufacturing firms in Nigeria; while value-based pricing, dynamic pricing, and psychological pricing do not significantly affect the profitability level of Nigerian manufacturing firms. Based on these findings, it was recommended that: firms could benefit from rigorous cost control measures and efficient cost accounting systems; manufacturing firms should integrate customer perceptions of value into their product development and marketing strategies; manufacturing firms should maintain a keen awareness of market dynamics and competitor actions; manufacturing firms should consider scenarios where dynamic pricing could be useful, such as in managing inventory more effectively or in capitalizing on seasonal demand changes; and seek to understand psychological triggers specific to their target market segments and then experiment with different pricing formats and presentations that might appeal more to consumers' emotions and perception of pricing fairness.