Product pricing in international markets

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  • 1. Product pricing in International Markets Project by :- Shantanu Bhopale - 31 & Gaurav Jadhav - 57
  • 2. Introduction International Marketing Marketing mix Meaning of pricing PRODUCT PRICING IN INTERNATIONAL MARKETS
  • 3. 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
  • 4. 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
  • 5. Methods of costing Cost plus Approach Marginal costing PRODUCT PRICING IN INTERNATIONAL MARKETS
  • 6. 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
  • 7. 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
  • 8. 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
  • 9. 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
  • 10. 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