  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.
:
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
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- Your Objective
- Market Prices
- Size of target market
- Competition
- Projected Image
- Distribution
- Laws & Regulations
- Export Related Costs
- 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
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. |
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