Thesis Abstract

Abstract
This study aims to investigate the effectiveness of pricing policy and profit planning in Nigerian organizations, with a focus on selected manufacturing firms. Pricing policy and profit planning are crucial aspects of financial management that significantly impact an organization's performance and sustainability. The Nigerian business environment is characterized by various challenges, including economic fluctuations, regulatory changes, and intense competition, making it essential for organizations to adopt effective pricing strategies and profit planning techniques. The research will employ a mixed-methods approach, combining quantitative analysis of financial data with qualitative interviews with key decision-makers in the selected manufacturing firms. By analyzing financial statements, pricing strategies, and profit planning processes, this study seeks to evaluate the extent to which these organizations effectively manage pricing decisions and profit optimization. The research will also explore the challenges faced by Nigerian organizations in implementing pricing policies and profit planning initiatives. The findings of this study will contribute to the existing literature on financial management practices in Nigerian organizations, particularly in the manufacturing sector. By assessing the relationship between pricing policy, profit planning, and organizational performance, this research aims to provide valuable insights for managers, policymakers, and researchers in understanding the dynamics of pricing and profit management in a challenging business environment. The results of this study are expected to highlight best practices in pricing policy and profit planning that can enhance the financial performance and competitiveness of Nigerian manufacturing firms. By identifying key success factors and potential areas for improvement, this research can support organizations in developing more effective pricing strategies and profit optimization techniques. Ultimately, the findings of this study can help Nigerian organizations navigate the complexities of the business environment and achieve sustainable growth and profitability. In conclusion, this research on the effectiveness of pricing policy and profit planning in Nigerian organizations is essential for enhancing financial management practices and driving organizational performance. By focusing on selected manufacturing firms, this study aims to provide practical insights and recommendations that can support decision-makers in optimizing pricing strategies and profit planning processes for long-term success in a challenging business environment.

Thesis Overview

INTRODUCTION1.1 BACK GROUND OF THE STUDYIn modern economies, prices are generally expressed inunits of some form of currency. Although, prices could be quoted as quantities of other goods and services (BARTER SYSTEM). Prices are sometimes quoted in terms of vouchers such as trading stamps. Price sometimes refers to the quantity of payment requested by a seller of goods or services rather than the actual payment amount.One of the most crucial operating decisions management must make is establishing a setting price for its products but this is quiet unfortunately that many firms are still mismanaging pricing causing lots of money and anticipated profit to be unexplored and wasted.In many financial transactions, it is customary to quote prices in other ways. The requested amount is sometimes called the asking or selling price, while actual payment may be called the transaction or traded price.However in explaining the importance of pricing, Egbunike (2007:83) sustained that setting the price for an organizationsproduct or service is one of the most difficult, due to some number of variety of factors that must be considered. The primary decision arises in virtually all types of organization, just to mention but a few of them such as manufacturers set prices for their products, they manufacture, merchandising companies set prices for their goods, service firms set prices.