Abstract: The pharmaceutical industry's poor performance can be attributed to the high levels of domestic and international competition it is subjected to from raw material importers and finished product manufacturers. Reforms such as generic strategies on performance, standardizing protocols and practices in the pricing and delivery of pharmaceutical and non-pharmaceutical supplies, and lowering the barriers to entry for pharmaceutical companies are needed to ensure that Americans have access to low-cost medical products without having to sacrifice their financial stability. Therefore, pharmaceutical distributors need to strategize ways to increase their edge over foreign competitors. Therefore, this study seeks to investigate the effect of pricing strategy on the performance of pharmaceutical distributors in Nairobi County, Kenya. This investigation utilized a descriptive design as its research strategy. For this study, 45 drug wholesalers from Nairobi County were the subjects. The CEOs, GMs, and marketing managers of the pharmaceutical distribution corporations made up these distributors. The study's methodology included polling Nairobi-based drug wholesalers. The study used a structured questionnaire to achieve this goal. For reliability and content validity, Cronbach's alpha was used. The primary method of data collection for the study was to conduct interviews with managers. The data was coded and then analysed using SPSS, Version 22.0. We determined the association between the dependent and independent variables by employing regression and correlation analysis. The findings indicate a robust relationship between pricing and performance. The study concludes that implementing an effective pricing strategy can help pharmaceutical distributors in Nairobi County, Kenya, gain a competitive advantage and increase their market share. The study recommends that the firms should conduct thorough market research to understand the demand and supply dynamics of pharmaceutical products in Nairobi County. This includes analyzing the pricing strategies of competitors, identifying customer preferences, and assessing the purchasing power of different customer segments.
Keywords: Pricing Strategy, Organizational Performance.
Title: EFFECT OF PRICING STRATEGY ON THE PERFORMANCE OF PHARMACEUTICAL DISTRIBUTORS IN NAIROBI COUNTY, KENYA
Author: Ben David Miriti, Dr. John Mutinda
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
Vol. 12, Issue 2, April 2024 - June 2024
Page No: 111-118
Research Publish Journals
Website: www.researchpublish.com
Published Date: 10-May-2024
