Penetration Pricing Strategy As Tool For Effective Marketing Of Pharmaceutical Product (A Study Juhel Pharmaceutical Limited Enugu, Enugu State)

ABSTRACT

Generally, price is the amount of money charged for a product or service. Price is one of the controllable variables which refers to the sum of all the values that customers give up in order to gain benefit. The main objective of the study is to evaluate the pricing strategy for effective marketing of pharmaceutical products, which emphasizes on Juhel Pharmaceutical Limited. The study adopted primary data method of data collection and the variables examined are Penetration Pricing, Effective Marketing. The researcher administered a research questionnaire to each member of the target population since it was the most appropriate tool to gather the information. Descriptive statistics such as percentages and tables were used in the analysis of data and the researcher employed Chi-Square to estimate the relationship of the variables. Data presentation was done by the use of tables for easy understanding and interpretation. The study found that Penetration Pricing Strategy is significant to Pharmaceutical Products at 5% level of significance. In view of the above, the public is recommended by the study to accommodate Penetration Pricing Strategy as tool for effective marketing of Pharmaceutical Products.