product pricing in international markets
DESCRIPTION
TRANSCRIPT
Product pricing in International Markets
Project by :- Shantanu Bhopale - 31 &
Gaurav Jadhav - 57
Introduction
• International Marketing
• Marketing mix
• Meaning of pricing
PRODUCT PRICING IN INTERNATIONAL MARKETS
Factors for determining price in
international markets• Cost of product
• Competition
• Elasticity of demand
• Government policies
• Incentives offered by the government
• Frequency of purchase
• Brand image
• Miscellaneous factors
PRODUCT PRICING IN INTERNATIONAL MARKETS
Importance of pricing in international
Markets
• Goal oriented
• Increases profitability
• Helps to penetrate the market
• Helps to skim the cream
• Increases market share
• Creating brand image and loyalty
• Helps to face competition
• Reflects the quality of product
PRODUCT PRICING IN INTERNATIONAL MARKETS
Methods of costing
• Cost plus Approach
• Marginal costing
PRODUCT PRICING IN INTERNATIONAL MARKETS
Export pricing strategies
• Skimming pricing strategy
• Penetration pricing strategy
• Transfer pricing strategy
• Marginal cost pricing
• Market oriented pricing
• Competitors pricing
PRODUCT PRICING IN INTERNATIONAL MARKETS
Information required for pricing in
International Markets
Information required at Micro level
• Cost of production
• Cost of distribution
• Cost of marketing
• General information
• Other information
PRODUCT PRICING IN INTERNATIONAL MARKETS
Information required at Macro level
• Information about product
• Information about demand
• Information about Market
• Information about competitors
• Information about charges and levies in foreign market
• Other information
PRODUCT PRICING IN INTERNATIONAL MARKETS
Impact of incentives on export pricing
• Duty drawback
• Rebate on income tax
• Exemption on sales tax
• Exemption on excise duty
• Rail/sea/air freight concession
• Financial assistance
PRODUCT PRICING IN INTERNATIONAL MARKETS
Conclusion
• Customer attitude & customer perception
• Environmental factors of markets
• Life Cycle of the product
• Short term and long term profits
• Setting the right strategy
PRODUCT PRICING IN INTERNATIONAL MARKETS