Effect of Pricing Strategy and Growth of Selected Hotels in Nyeri County, Kenya
Journal Title: International Journal of Academic Research in Accounting, Finance and Management Sciences - Year 2018, Vol 8, Issue 1
Abstract
Price is a very important part of the marketing mix as it can affect both the supply and demand of the firms’ products. Since pricing strategies influence has an impact on market share, performance and growth of the firm, every firm has its separate pricing policy or strategy for its products. This study therefore sought to examine the effect of pricing strategy on growth of selected hotels in Nyeri County, Kenya. The study was anchored on Ansoff matrix; 4C’s marketing model and Unique Selling Proposition. The study used descriptive research design. The study used questionnaire as the primary research instruments. The researcher used Cronbach alpha Coefficient to assess reliability of data using. The target population for this study was the 57 respondents from selected hotels within Nyeri County. A self-administered, questionnaire was used to collect data from the target respondents. Data analysis results generated using SPSS version 21 was presented in form of frequency tables. Bivariate Linear Regression results indicated that price had positive and statistically significant effect on hotel growth. The study recommends the hotel managers to review their prices regularly without compromising quality. In addition, hotels should come up with criteria that should ensure communication reach all the potential customers effectively. Future research should focus on other marketing mix variables such as promotion, place and product to establish the effect on growth of hotels.
Authors and Affiliations
Wachira Lucy Wangui, David N. Kiragu, Anita Wachira
Keywords
Related Articles
- EP ID EP363472
- DOI 10.6007/ IJARAFMS/v8-i1/4046
- Views 84
- Downloads 0
How are Derivative Accounting Applied for Hedging Activities?
The derivative instruments accounting plays an important role in the development of the financial instruments markets, commodity market and in the risk management process. Because, the close relationship between the meth...
Property, Plant and Equipment disclosure requirements and firm characteristics: the Portuguese Accounting Standardization System
In the new Portuguese accounting frame of reference (Portuguese Accounting Standardization System – Sistema de Normalização Contabilística), the issues related to Property, Plant and Equipment assets are dealt with in th...
Is work-family conflict a predictor of organisational commitment among rural working women in Ebonyi State, Nigeria?
Credit Risk Modeling for Commercial Banks
The aim of this paper is to examine the efficiency of two credit risk modeling (CRM) to predict the credit risk of commercial Iranian banks: (1) Logistic regression model (LRM); (2) Artificial neural networks (ANNs). The...
Examining the Relation of EVA (Economic Additional Value) and ROE (Return on Equity) and ROA (Return of Assets) in Cement and Construction Industries in Tehran Stock Exchange Companies