Discuss the important steps considered in international pricing. (500 words)

1. Key phases of international pricing

Introduction

- In a nutshell, international pricing outline why this phenomenon is vital.

Body

- Develop the pricing policy (for example: maximize income, gain market share, and so forth.)

- Look into the scope of the market and the costs related to the foreign market setting.

- Compare with the competition and identify strengths over other players.

- Examine the pricing requirements of domestic and overseas governments as well as various policies.

- Compile information about product localization requirements, differentiating between countries.

- Come up with your ideal rudimentary pricing type (market based, cost based or hybrid pricing).

- This, in turn, is equivalent to the formulation and the rounding off of the prices.

- Specify payment period and policies accordingly.

Conclusion

- Recap the major stages of international mark-up.