What is the meaning of “Price”?

1 year ago

Price is the monetary valuation about the tangible and intangible benefits perceived by the consumer or user. There is a great interrelationship between this variable with the rest of the commercial mix components. Due to this relationship, any change in the product distribution or promotion affects the fixing of the international price.

There has to be consistency among the marketing mix components, and the fixing of international prices has to be carried out in total agreement with the objectives of the international marketing strategy designed.

For example- to penetrate a particular country market, the company has to adapt its product according to the statutory rules of that destination market (such as sanitary and packaging requirements). These adaptations are going to affect directly export price.

Susmita Sah
Jan 17, 2022
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