Setting the right price for products in export markets can be tricky. Businesses need to think about many things like market demand, competition, and costs. Using the right pricing strategy can help companies succeed in new markets and keep their customers happy.
Key Takeaways
Market-driven pricing helps businesses stay flexible and adjust to market changes.
Skimming pricing can recover initial costs quickly but might not work well in new markets.
Penetration pricing sets low prices to enter the market and beat competitors.
Marginal cost pricing focuses on covering variable costs, which can lead to lower prices.
Competition-based pricing follows the leader's price but can be risky if the leader changes prices suddenly.
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