International trade is primarily an expansion of market beyond geographical boundaries. However, the rules for trading in the domestic market vis-a-vis the rules for international markets are completely different, not only in terms of logistics, licenses, and regulations, but also the market dynamics and consumer profiles.
How do you price your product for an international market? Is it simply adding all costs and a margin, or is it about defining a pricing strategy that’s in sync with market demand and product positioning? This infographic discusses the 5 key factors for determining foreign market pricing.
Infographic by – Excelsior