Long description
The details are as follows:
Step 1:Estimate the “landed” price of the product in the foreign market by totaling all costs associated with shipping the product to the customer’s location.
Step 2:Estimate the price the importer or distributor will charge when it adds its profit margin.
Step 3:Estimate the target price range for end users. Determine:
Floor price (lowest acceptable price to the firm, based on cost considerations)
Ceiling price (highest possible price, based on customer purchasing power, price sensitivity, and competitive considerations)
Step 4:Assess the company sales potential at the price the firm is most likely to charge (between the floor price and ceiling price).
Step 5:Select a suitable pricing strategy based on corporate ...
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