Principle of Business

School Based Assessment

Candidates Name: Candidate Number

Monifa Troupe
Ayanna Wright
Timonia Wheatle
Gina Gayle
Rickoya Coleman

SCHOOL: GARVEY MACEO HIGH TERRITORY: JAMAICA

Research Topic: An Investigation into the pricing strategies used at

young’s pharmacy main street maypen and its effect on profitability.

Year 2025-2026
 Table Of Contents

Topic …………………………… 1
Objective ………………………. 2
Background ……………............ 3
Methodology ……………... 4
Presentation Of Data ……… 5
Conclusion …………………. 6
Recommendation ………….. 7
Bibliography ……………….. 8
 Topic/Issue/Problem

An Investigation into the pricing strategies used at young’s pharmacy main street maypen and its
effect on profitability.
 Objectives

1. Identify at least Two pricing strategies used at young’s pharmacy.

2. Discuss the impact of the two pricing strategies and its effect on profitability.

Background
This School-Based Assessment (SBA) is based on a study carried out at Young's Pharmacy in
May Pen, Clarendon. Young's Pharmacy is a retail pharmacy that offers basic items and services
to the local community. Prescription medications, over-the-counter drugs, personal care
products, and basic health data can all be examples.

The investigation was conducted to better understand how a small retail business operates in a
competitive industry. Management methods, customer service, marketing initiatives, and the
efficient use of resources to achieve business goals were all prioritized. Young's Pharmacy was
chosen for this study due to its convenience, relevance to the community, and consistent flow of
consumers.

Data for this SBA were gathered using methods such as observation, interviews, and
questionnaires. The information acquired will enable actual use of principles and concepts
covered in the principles of company courses to a real-world company organization.

Methodology
This section outlines the methods used to collect information for the Principles of Business
School-Based Assessment on Young’s Pharmacy in May Pen.
Both primary and secondary sources of data were used in conducting this research.
Primary data was obtained through:
Interviews with Garth Young of Young’s Pharmacy to gather information on pricing strategies
and business operations.
Questionnaires distributed to customers to collect their opinions on prices and the level of
satisfaction.
Observation, where visits were made to the pharmacy to observe pricing, customer flow, and
general business activities.
Secondary data was collected from:
Principles of Business textbooks
Class notes
Internet sources related to pharmacies and business practices
The information collected was analyzed and presented using written explanations, tables, and
charts where appropriate.
Limitations of the Study
Some customers were unwilling or unable to complete the questionnaires.
Time constraints limit the amount of information that could be collected.
The manager may not have been able to share certain confidential business information.
Information from internet sources may not always be completely accurate.

Questionnaire
Topic:
An Investigation into the pricing strategies used at Young’s Pharmacy, Main Street, May Pen
and its effect on profitability

Instructions to Respondents

Please answer all questions honestly. This questionnaire is for school research purposes only and
your responses will be kept confidential. There are no right or wrong answers. Kindly read each
question carefully and respond by ticking (✓) the appropriate option or writing your answer
where required.

1. Are you a customer of Young’s Pharmacy, Main Street, May Pen?

☐ Yes ☐ No
2. How often do you shop at Young’s Pharmacy?
☐ Daily ☐ Weekly ☐ Monthly ☐ Rarely
3. What factors usually influence your decision to buy products at this pharmacy?
________________________________________________________________________
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4. Do you think the prices at Young’s Pharmacy are affordable?

☐ Yes ☐ No
5. How do the prices at Young’s Pharmacy compare to other pharmacies in May Pen?
☐ Cheaper ☐ About the same ☐ More expensive
6. Explain how the prices at Young’s Pharmacy affect your decision to shop there.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
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7. Does Young’s Pharmacy offer discounts or special promotions?

☐ Yes ☐ No
8. If yes, how often do these discounts or promotions influence your purchases?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
 ________________________________________________________________________
________________________________________________________________________
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9. Do you believe fair pricing encourages you to buy more items?

☐ Yes ☐ No
10. What type of pricing strategy do you think Young’s Pharmacy uses? (e.g. competitive
pricing, discount pricing, premium pricing)
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
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11. Are you satisfied with the value you receive for the prices paid?
☐ Yes ☐ No
12. In your opinion, how does pricing affect the pharmacy’s sales and profits?
________________________________________________________________________
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13. Would you recommend Young’s Pharmacy to others based on its prices?
☐ Yes ☐ No
14. What improvements, if any, would you suggest regarding the pharmacy’s pricing?

________________________________________________________________________
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15. Do you think price increases would reduce customer loyalty?

☐ Yes ☐ No
16. How important is price compared to product quality when shopping at the pharmacy?
________________________________________________________________________
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________________________________________________________________________
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17. Does the pharmacy offer a wide range of prices to suit different customers?
☐ Yes ☐ No
18. Explain how pricing strategies can help improve profitability at Young’s
Pharmacy._______________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
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19. Are you more likely to buy in bulk if prices are lower?
☐ Yes ☐ No
20. Any additional comments about pricing at Young’s Pharmacy?
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
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Presentation of Data
Figure 1 shows a Column graph showing the percentage of question 5.

How do the prices at Young’s Pharmacy compare to other pharmacies in May Pen?
 45%

40%
0.4
35%
35%
30%

25%
0.25
20%

15%

10%

5%

0%
Cheaper About the same More expensive

Cheaper About the same More expensive

Analysis
The question ask “How do the prices at Young’s Pharmacy compare to other pharmacies in May
Pen?”. Figure 1 shows that 40% Chose Cheaper, 35% chose About the same and 25% chose
More Expensive.

Statement Finding
According to Figure 1, 40% of respondents think Young's Pharmacy's pricing are lower than
those of other May Pen pharmacies. Young's Pharmacy is more expensive, according to 25% of
respondents, while 35% believe the costs are roughly the same.

This suggests that Young's Pharmacy is typically competitive in its pricing strategy when
compared to other pharmacies in May Pen, as the majority of consumers (75%) consider the
pharmacy to be either lower or similar in price.

Figure 2 and 3 question 7&8.

 Does Young’s Pharmacy offer
discounts or special promotions?

Yes
No
40%

60%

If yes, how often do these discounts or promo-

tions influence your purchases?
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
Always Sometime Rarely Never

If yes, how often do these discounts or promotions influence your purchases?

Analysis

For Question 7, 60% of respondents said Yes while 40% said No, indicating that most customers
are aware of discounts and promotions at Young’s Pharmacy.

For Question 8, 35% said discounts sometimes influence their purchases, 40% said always, 20%
said rarely, and 10% said never. This shows that promotions generally influence buying
decisions, with most customers being affected at least sometimes.
Statement Findings

According to Figure 2, 70% of respondents claimed Young's Pharmacy gives unique offers or
discounts, while 30% disagreed. This implies that the majority of consumers are aware of the
pharmacy's promotional pricing tactics, which could aid in drawing in new business and keeping
existing clients.

According to Figure 3, 35% of respondents stated that discounts occasionally affect their
purchases, 40% said they always do, 20% said they do so infrequently, and 10% said they never
do. Given that most respondents are at least occasionally affected by discounts, this suggests that
promotional pricing has a substantial impact on consumer purchasing behavior. Only a tiny
portion of consumers are unaffected by special deals.

Conclusion
It is clear from the analysis of the pricing tactics employed at Young's Pharmacy on Main Street
in May Pen that pricing has a big influence on the pharmacy's profitability. According to the
results, 40% of respondents say the pharmacy's costs are lower, 35% think they are roughly the
same, and 25% think they are more than those of other pharmacies in May Pen. This shows that
75% of consumers think the pharmacy's prices are competitive, which aids in drawing in and
keeping consumers.

According to the survey, 70% of consumers are aware that Young's Pharmacy has sales and
discounts. Of them, 30% claimed that promotions always affect their purchases, while 40%
claimed that 10% said they are never affected, and only 20% indicated they are infrequently.
These findings demonstrate how promotional pricing influences consumer purchasing decisions
favorably and can boost revenue.

In general, Young's Pharmacy's pricing tactics seem to support profitability by providing

competitive rates and special incentives that entice customers to make purchases. Nonetheless,
the 25% who believe that prices are more costly indicate that pricing or marketing tactics might
still be improved to further boost profitability and customer satisfaction.

Recommendation
 1. Keep Prices Competitive
Young's Pharmacy should keep using competitive pricing to draw in and keep customers
because the majority of consumers believe that its prices are lower or comparable to those
of rival pharmacies. This tactic can boost profitability and sales volume.

2. Boost Promotional Offers

The findings demonstrated that promotions and discounts affect consumers' decisions to
buy. In order to promote more purchases and improve sales, Young's Pharmacy should
enhance the frequency of special offers and seasonal discounts.

3. Present Price Matching

The pharmacy could implement a price-matching policy, in which it matches a
competitor's price for the same product, in order to stay competitive. This can boost client
loyalty and stop sales declines.

4. Boost Consumer Knowledge of Promotions

A few consumers were unaware of the promos. To make sure that clients are aware of
discounts and special deals, the pharmacy should enhance its marketing using flyers,
social media, and in-store announcements.

5. 5. Regularly Check Prices

Prices should be routinely reviewed and modified by the pharmacy in response to
consumer demand and rival prices. This will guarantee that prices continue to be
appealing to consumers while also assisting in maintaining profitability.

Bibliography

 Kotler, P., & Armstrong, G. (2020). Principles of Marketing (18th ed.). Pearson.
 Nagle, T., Hogan, J., & Zale, J. (2016). The Strategy and Tactics of Pricing (5th ed.).
Routledge.

 Mankiw, N. G. (2021). Principles of Economics (9th ed.). Cengage Learning.