The level of competition in the market is often strongly linked to the stage of the products life cycle in different countries. For instance, the carbonated soft drinks market in France is relatively mature in the lemonade, fruited carbonates and tonic sector.
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These impose new challenges for price setting with companies forced to resort to positioning on value for money. The emergence and continued growth of own-branded labels in the French breakfast cereals market is altering the competitive structure of the industry.
However, more recently, own-labeled products have gained a significant market share of 14 per cent in volume sales. In particular, close to a quarter of sales in the French muesli sales are from own branded products, which are positioned at the lower end of the price range Marsh. This is said to be linked to promotion of the healthy lifestyle qualities of mainstream mineral waters, which differ little from higher price Heilwasser in terms of mineral content Marsh. Competitor activity within an industry such as this can have profound effects on the products price.
Global Pricing Strategies. Theoretical Concepts and Practical | Hausarbeiten publizieren
International firms often have to rely on existing distribution channels in order to distribute their products in foreign markets. For instance, if the distribution channel used in a particular foreign market involves a greater number of middlemen, or channel members are less competent and efficient than those in the home market, a significantly higher cost will be added to the product by the time it reaches the end-user. Under such circumstances a firm may also decide to modify other elements of its international pricing policy including sales and credit terms and discounts offered.
For instance, the distribution structure of the frozen ready meal market in Germany is a major determinant on pricing. Sales via discount outlets have tended to grow over the past few years and cut into sales via smaller supermarkets and traditional food retailers Marsh. Such an increasing trend towards discounters like Aldi is a strong determinant of price, and certainly in many cases, a deterrent. Inflation is the climbing of the average price levels in a country, which in turn reduces the buying power of money.
Companies need to adapt the prices to the different inflation ratios in order to work against this effect. However, in high-inflation countries, the adaptation of prices is often prevented by national price inspections, with the consequence that target profit margins may no longer be reached.
The following example illustrates the effect of inflation in international trade: A product is manufactured in Germany and sold in two countries at essentially the same price. On the other hand, international companies may also enjoy the benefits of the cost advantages created by the different inflation and exchange rates among countries. The weak Lira makes it difficult for foreign car manufacturers to export to Italy, where Fiat is highly successful.
The Italian producer has been more than willing to price aggressively in international markets, where market share continues to increase. It will deliver an absolute cost advantage, which firmly supports a cost leadership strategy in the growing market of developing countries, thus building barriers of entry. Consumer behavior due to cultural differences also influences the pricing strategy that a company should follow.
For example, in the Japanese culture the perceived value of a product directly affects its success in the market. The image of quality significantly outweighs the actual value of the product, as quality is culturally associated with high prices. This is demonstrated by the domination of Mercedes and BMW in the foreign car import market. The Johnny Walker whisky marketed in Japan represented an image of high status.
In an attempt to gain market share from its main rival Chivas, it reduced its price. Japanese consumers perceived the reduction in price to be a reduction in quality and status, resulting in a drastic decline in sales Marsh. Positioning itself in direct competition with subsidized domestic companies whose costs were significantly lower seriously limited the potential for achieving any success.
Realizing this effect and the Chinese consumer preference for foreign products over that of domestic suppliers, they launched lines that were considerably more expensive, focusing their strategy on the upper end of the market. In addition to the external factors, there are also internal determinants that influence the international pricing policies of a company. Those internal factors are more or less determined by the company according to their interior prerequisites. To make reasonable pricing decisions, it is inevitable to adjust them regarding enterprise goals and objectives.
A goal can be a good criterion used to compare different pricing alternatives. Table 1 shows different imaginable goals that influence the pricing process in international as well as in domestic markets arranged by profit orientation:. It is necessary to consider that long-term success is only conceivable by following several goals at once. Therefore not only goals of pricing management, but also goals of the other departments of a company e.
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Informatik - Angewandte Informatik. Fordern Sie ein neues Passwort per Email an. Table of Contents 1. Conclusion List of literature 1. Introduction Falling trade barriers between national markets, the rise of newly industrialized countries and technological changes have affected the structure of international markets and imposed new challenges on the international business environment. Table 1 shows different imaginable goals that influence the pricing process in international as well as in domestic markets arranged by profit orientation: Company goals; taken from Sander, p.
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Ein solches Outsourcing kann aber nur dann erfolgreich sein, wenn im Vorfeld eine genaue Analyse der Chancen und Risiken eines solchen Vorhabens stattgefunden hat. Im Folgenden werden die Besonderheiten des Outsourcings von Dienstleistungen dargestellt und die damit verbundenen Chancen und Risiken analysiert.
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