Asked by: Bettina Diehlmannasked in category: General Last Updated: 5th February, 2020
What factors influence international pricing decisions?
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Also to know is, what are the factors that affect international pricing?
Pricing for international markets involves other factors related to foreign customer behaviors such as: economic and political ideologies of target market , education and technological, values and attitudes, social and cultural, language, religion and beliefs, legal as well as competitive factors to mention a few.
Furthermore, what are the four main factors that drive pricing decisions? Marketing's four Ps – product, price , promotion and placement – are the basic components of any marketing mix. The decisions you make with regard to all of these elements can mean the difference between success and failure.
Simply so, what factors influence pricing decisions?
The factors affecting pricing decisions are varied and multiple. Basically, the prices of products and services are determined by the interplay of five factors, viz., demand and supply conditions, production and associated costs, competition , buyer's bargaining power and the perceived value.
What are the external factors affecting pricing decision?
Some other external factors can affect setting the price such as: Economic factors like Inflation Deflation and interest rate affect selling price because they affect cost of production and consumer perceptions related product price . Government policies can also affect the price taking decision .