Which of the following pricing approaches is best suited for a company that is expanding into the global market and will be facing rather low foreign marketing costs?
A)Standard worldwide price
B)Dual pricing
C)Market-differentiated pricing
D)Transfer pricing

Question

Quizplus · Accepted Answer

When a company is expanding into the global market and has low foreign marketing costs, it is best to choose a standard worldwide price. This approach involves setting the same price for a product or service in all countries, which simplifies the pricing process and minimizes the risk of price fluctuations caused by exchange rate changes or local market conditions. This approach is ideal when the product has a standardized market and does not require much customization to meet local preferences.

Which of the Following Pricing Approaches Is Best Suited for a Company