You must accurately price your product, offer full and accurate quotes, determine the terms of sales, and choose the payment method in order to profit from your export sales. Pricing can be the most challenging due to various market demands and pricing regimes around the world. Similar to the domestic market, the price at which a good or service is sold has an immediate impact on the revenues of your business. As part of your company's market research, any factors that could affect the price range for your good or service should be considered. If your company's price is too expensive, the good or service won't sell. If the price is too low, export activities might not be as proactive as they should be. Traditional criteria used to determine appropriate price include costs, market demand, and competition. Each element must be evaluated in light of your company's objective to enter the global market. Based on an examination of each component from the standpoint of export, pricing for export may vary from pricing for domestic products.

Strategies for International Pricing

Economy pricing

A volume-based pricing method is economy pricing. You have set your product's price low in order to profit from large sales. Aldi and Lidl, two German food discounters, both rely on low prices to fuel their aggressive International business expansion strategies. In order to create the idea that the product is of superior quality, this marketing strategy involves charging a high price. One company that comes to mind when thinking about this tactic is Apple. Its products, such as iPhones, iPads, and MacBook’s, cost more than those of their rivals. Because of these high pricing, people believe that Apple items are of greater quality.

Pricing promotions

Offering a discounted price for a limited period of time in order to increase sales is a strategy known as pricing promotions. Typically, marketing initiatives are used to support these promotions. These could be one-day bargains, buy one; get one free (BOGOF) specials, which are frequently seen in supermarkets, or seasonal deals.