Pricing strategy refers to a plan of action designed to attain pricing objectives. Pricing strategy differs from pricing method. A pricing method helps to calculate and fix the prices on the bases of costs, competitors’ pricing, etc. Pricing method is a part of pricing strategy. There are several pricing strategies. The exporter may adopt a particular strategy at the time of launching the product in the overseas market.
The exporter has to adopt pricing strategies during the lifetime of the product. The exporter should constantly review the pricing strategy adopted by his firm. If required, the exporter may switch over from one strategy to another.
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