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 75
- Downloads 0
Entrepreneurial Orientation, Barriers, Business Networks, and Internationalization Readiness: A Conceptual Framework for the SMEs
In the era of globalization, Small and Medium Enterprises (SMEs) play an important role in advancing Indonesia's economy. This article aims at constructing a conceptual framework for modelling the relationships between e...
An Analysis on the Impact of Participatory Budgeting and Procedural Fairness Toward Manager’s Commitment and Performance
This study aims to test the effect of participatory budgeting and procedural fairness on the manager's commitment and performance either have simultaneous or partial effect. The method of the research used was a survey m...
The Effectiveness of the Implementation of Internal Control in Kuwaiti Shareholding Companies
The study aimed to identify the effectiveness of the implementation of internal control in its branches (Administrative, accounting and internal check) and in the Kuwaiti joint stock companies, the study followed the ana...
Financial Development and Poverty: What Role for Growth and Inequality?
The paper assesses the effect of financial development on poverty reduction. To do this, we are going to build a model of simultaneous equations on a sample composed of 89 countries over the period 1990-2011. The model i...
Analysis of Budgetary and Fiscal Convergence Scenarios for Romania and Bulgaria in the Period 2007-2016
The topic reflects an analysis of Economic and Monetary Union convergence in tax-budgetary system of Romania and Bulgaria. The importance of this theme is underlined by the objective on the integration of the two Europea...