Analysis of Pricing Strategies of Handloom Products in Mizoram

Abstract

This study explores the pricing strategy of handloom products in Mizoram to better understand the factors that determine the pricing of handloom products in Mizoram and to highlight any gap in the use of pricing strategies. The study is based on a data of a sample of 384 individual handloom workers collected through convenience sampling using a questionnaire. The study reveals that cost plus strategy was primarily used pricing handloom products in Mizoram. The pricing strategy mainly focused on assigning monetary value of products to capture a desired level of profit. It was found that the use of pricing as a marketing and management tool was negligible in Mizoram. This highlights the need for training and developments that enable the handloom workers to incorporate managerial and marketing strategies though pricing strategies in Mizoram.