Effects of Pricing Strategies on Marketing Decisions of Selected Bakeries in Bida, Niger State

The study assessed the effects of pricing strategies on marketing decisions of selected bakeries in Bida, Niger State. A survey research design was adopted for the study. Data for the study were obtained through the administration of questionnaires designed in five point likert scale format. Data collected were analyzed using percentages, mean values and standard deviation. Hypotheses formulated for the study were tested using Spearman Correlation Test. The findings of the study reveal that cost-plus pricing, value-based pricing and price-skimming strategies significantly influence the marketing choices of bakeries in Bida, Niger State. The study however recommends that Bakery businesses in Bida should continue to leverage the power of pricing strategies. They should be diligent in considering both production costs and desired profit margins when setting prices. To enhance their marketing decisions, bakeries should adopt a market-oriented approach. Regularly assessing customer feedback and market demand can ensure that pricing strategies remain aligned with evolving customer preferences. Also, a balanced approach that incorporates multiple pricing strategies may be beneficial. For instance, a combination of cost-plus pricing for regular products and price skimming for new product launches can help optimize profitability and market positioning.