New in Stock - Preliminary Exam Business Report Samples (Band 6 Exemplar)
On the global market, firms must research and consider the domestic (local) competitive landscape in each country, but also the competition from other global firms within each country.
Positioning and pricing needs to be considered in each nation. Customise pricing? Standardise pricing?
It is largely the same game on the domestic scene - just now on the larger playing field of the global market.
Levels of discretionary income and affordability must be factored into the setting of prices in different nations.
The factors involved in the setting of prices multiplies in complexity when selling to a global market - exchange rate fluctuations, the imposition of tariffs on imports in certain industries add another layer to the already challenging factors influencing consumer choice in that nation.