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| Author: | Lancioni, R. A. |
| Title: | Pricing for international business development. |
| Journal: | Management Decision
1991 : VOL. 29:1, p. 39-41 |
| Index terms: | INTERNATIONAL MARKETING PRICE POLICY MARKETING STRATEGY COMPETITIVENESS |
| Language: | eng |
| Abstract: | 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, is more applicable. A firm needs to know the identities and strengths of its competitors. It must identify market segments and choose the ones in which to concentrate its efforts. Other factors must also be considered, including the stage in the product life cycle and the firm's marketing strategy. The five major pricing axioms in international marketing is described. It is emphasized that price setting should be done both on the external market level and on the internal level (cost-reduction, sales and production volume quotas etc.). |
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