Factors influencing international pricing decisions
10 important questions on Factors influencing international pricing decisions
The two main groups of international pricing:
- Internal factors
- external factors
The four subgroups of international pricing:
- Firm-level factors
- product factors
- environmental factors
- market factors
What is the definition of price escalation?
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Mention four management options available to counter price escalation:
- Rationalizing the distribution process
- lowering the export price frm the factory
- establishing local production of the product
- pressurizing channel members to accept lower profit margins
What are the seven firm-level factors:
- Corporate and marketing objective
- competitive strategy
- firm positioning
- product development
- production locations (cost of production inputs)
- market entry modes
- country of origin (COO)
What are the five product factors:
- Stage in PLC
- place in product line
- most important product features, quality, service, etc.
- product positioning (USP)
- product cost structure (manufacturing, experience effects, etc.)
What are the four environmental factors
- Government influences and constraints (import controls, taxes, price controls)
- inflation
- currency fluctations
- business cycle stage
What are the five market factors:
- Customers' perceptions (needs, tastes)
- customers' ability to pay
- nature of competition
- competitors' objectives, strategies and relative strenghts/weaknesses
- grey market appeal
What is the definition of a monopoly?
Mention the nine factors that influence the sensitivity of customers to prices:
- More distincitive product
- greater perceived quality of products
- consumers are less aware of substitutes in the market
- difficulty in making comparisons
- the pruce of a product represents a small proportion of total expenditure of the customer
- the perceived benefit for the customer increases
- the product is used in association with a product bought previously, so that, for example, components and replacements are usually extremely highly priced
- costs are shared with other parties
- the product or service cannot be stored
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