Pricing is a primary factor in international business success.Conventional price definitions are too narrow and a wider definition,taking account of intangible as well as tangible product qualities, ismore applicable. A firm needs to know the identities and strengths ofits competitors. It must identify market segments and choose those inwhich to concentrate its efforts. Other factors must also be considered,including the stage in the product life cycle and the firms marketingstrategy. This article describes the five major pricing axioms ininternational marketing and concludes that although pricing ininternational markets is not an easy task, by better understanding theinternational marketing environment, a company can more effectively setprices and be competitive.
Management Decision – Emerald Publishing
Published: Jan 1, 1991