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   Need more information NOW?   Call Tony Baker at +1.416.500.7287
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PRICING STRATEGIES

Before entering a new market or introducing a new product, it is important to think carefully about the pricing strategy you will use. This applies whether you are entering a foreign market or a new market segment within your own country. Note: the best pricing strategy for a new or foreign market is unlikely to be the same as you use in an established market.


PRICING STRATEGIES
:

Static/Uniform

  • goods are offered at same price to everyone

Flexible/Variable

  • discounts
  • geographic pricing
  • special pricing

Penetration

  • relatively low price initially as way to reach mass market
  • requires mass production for high volume sales
  • requires strong marketing support

Skimming

  • inelastic demand
  • superior/novel product
  • technology breakthrough
  • limited production

Value-based

  • price set so that customer perceives overall value of product (including related factors) is good when compared with other options
 


FACTORS TO CONSIDER

  • Your Objective
  • Market Prices
  • Size of target market
  • Competition
  • Projected Image
  • Distribution
  • Laws & Regulations
  • Export Related Costs

OTHER CONSIDERATIONS:

  • Position your product/service (could be different from that of domestic market)
  • Know the competitors' pricing
  • Examine your costs
  • Constantly reduce your costs even if you don’t have to lower your prices

 

maww international is located in Toronto, Ontario, Canada.
For practical help in setting prices for your products in your markets, please:
call +1 416 500 7287
or call toll-free (in North America):
1.855.222.6299 (MAWW)

or CLICK HERE to reach us by email.