International Marketing-Pricing Srategy

International Marketing-Pricing Strategy

PRICING STRATEGY

One of the four major elements of the marketing mix is price . Pricing is an important

strategic issue because it is related to product positioning Furthermore , pricing affects other

marketing mix elements such as product features ,channel decisions , and promotion

While there is no single recipe to determine pricing , the following is a general sequence

of steps that might be followed for developing the pricing of a new product

Market Development Strategy

A market development strategy involves selling present products or

br services in new markets

Managers take actions like targeting promotions , opening sales offices and creating alliances

to operationalize a market development strategy . Developing a Product Marketing Strategy is

one of the most challenging and exciting aspects of product marketing and launching a new

product . The marketing professional should begin by writing a working outline of his market

plan to help organize the study , gather information , and organize the presentation

Product Position

Differentiate your product and your service

Find the opportunity . Its out there

Remember that famous glass of water ? The one that optimists see as half full and pessimists

see as half empty ? A scientist , however , sees a question -- Was the glass designed with too

much capacity

What we see is , actually , a matter of perception . What your customer sees is , also , a

matter of perception -- his perception . Understand your customer 's needs

Describe your products

Describe your customer 's pain

Some sales systems will script sales closing techniques based on customer needs or

wants . My opinion is to agree with other sales systems which insist that customers only buy

on an emotional level

Have you bought everything you wanted ? Have you bought everything you needed ? Of

course not . But , how did you feel when your car stranded you on the highway ? Were you a

bit more receptive to the idea of buying a new car

Read this carefully because this is the key to all market strategies When your sales

force closes sales , they will do so only by understanding your customer 's emotions

Your customers will buy from China , India , South America , anybody . Very few

industrial customers have loyalty to any country or brand name today . If you don 't agree , just

look at number of people drinking bottled water that is imported from other countries . The

last time I looked , the United States did produce good clean water . Go Figure

You must understand your customer 's psychological needs . Take a piece of out

and write this down "You must understand your customer 's psychological needs to best

succeed in product marketing and sales

If Possible , Do Market Testing

Show product and promotional concepts to customers

Double check

Make Strategy Decisions

Decide on new revenue growth and profits

Decide on new product development

Decide on price

Decide on sales force , distribution , service

Decide on customer psychological factors , not features and benefits

Decide on product promotion

A popular way to remember the function of marketing is the "four

's...