Makson's, a manufacturer of fertilizers and pesticides used for agricultural purposes, modifies the prices of its products exported to foreign markets to include the marketing costs in foreign markets but maintains the same price in all its domestic markets. Its products are more expensive in international markets compared to its domestic market where it is sold at a lower price. What is the pricing strategy used by Makson's to differently price its products in foreign markets?
A) competitive pricing
B) dual pricing
C) market-differentiated pricing
D) standard worldwide price

Question

Quizplus · Accepted Answer

Makson's uses dual pricing, which means it has one price for its domestic market and a different price for international markets. This strategy involves adjusting prices for the same product in different markets, typically to cover additional costs such as marketing or shipping, or to account for differences in what the market can bear.

Makson's, a Manufacturer of Fertilizers and Pesticides Used for Agricultural