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The influence of internal and external factors on pricing decision-making in Nigerian SMEs

This study investigates how internal and external factors shape pricing decisions among Small and Medium-sized Enterprises (SMEs) in Nigeria, aiming to enhance strategic competitiveness. Conducted in Lagos, the research employed a mixed-methods approach, surveying 175 SMEs across manufacturing, retail, services, technology, and healthcare sectors, and interviewing 15 SME owners. The scope covered external factors (market conditions, competition, consumer demand, regulatory changes) and internal factors (innovation capabilities, brand reputation, cost structure, employee expertise), alongside s…

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