IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 11 NO. 4 2025
DOI: 10.56201/ijebm.vol.11.no4.2025.pg291.303

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The Philosophy Behind Boosting Sales: Do Pricing Strategies Affect Consumer Purchase Engagement of Pharmaceutical Products in Anambra State of Nigeria?

Nkoli Augustina Chendo PhD, John Chidume Anetoh PhD, Chukwujekwu Jeffery Obiezekwem PhD, Leo Atuchukwu Ohazulike PhD

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Abstract

Determining the appropriate price for pharmaceutical products is very important but a difficult task especially in this contemporary era. The problem of setting a price that accurately reflects the product's value that is acceptable to the consumer is not easy. Therefore, this study examined pricing strategies and their effects on consumer purchase engagement of pharmaceutical products in Anambra State of Nigeria. The specific objectives were to ascertain the effects of penetration pricing, discount pricing and skimming pricing strategies on consumer purchase engagement of selected pharmaceutical products in Anambra State of Nigeria. The research design used in this study was a descriptive using a survey method. The population of this study comprised the customers of the selected pharmaceutical firms in Anambra State of Nigeria. Data were sourced from the respondents using a convenience sampling strategy. The study employed primary source of data using the questionnaire. The formulated hypotheses were tested using regression analysis at 5% level of significance. The study found that penetration pricing strategy has a significant and positive effect on consumer purchase engagement of pharmaceutical products in Anambra State of Nigeria. The finding revealed that discount pricing strategy has a significant and positive effect on consumer purchase engagement of pharmaceutical products in Anambra State of Nigeria. The study also found that skimming pricing strategy has a significant and positive effect on consumer purchase engagement of pharmaceutical products in Anambra State of Nigeria. The researchers recommend among others that the owners and managers of the pharmaceutical firms should gradually increase the price of their products so that their products will be known, gain popularity and market share for enhanced consumer purchase engagement. They should continue to give discounts to customers that purchase in large quantities

keywords:

Pricing strategies, Purchase engagement, Penetration, Discount, Skimming, Nigeria.

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