How To Price Your Products in Foreign Markets?
Pricing products in overseas markets is the most challenging element for companies. As an experienced partner to exporters to the MEA region, we work closely with our principals to ensure that the pricing is done properly. We also assist on how to choose the terms of sale, give accurate quotations and select the payment method.
Here below are some of the pricing considerations:
What market positioning and customer perception do you want to convey from your pricing?
What distribution/sales channels are involved in marketing your product in foreign markets?
Is the price competitive?
What type of incentives you are to offer your foreign customers?
Is your pricing by market segment?
Can you guarantee your foreign partners and customers stable prices enough for a period necessary to establish a foot hold in the markets?
What are additional costs that are usually borne by the importer (customs duties, value-added taxes, shipping…)?
Does your cost-related pricing method affect your competitiveness in international markets?
What if your costs increase or decrease? Can you easily adjust your pricing accordingly?
Can you offer identical prices for the same products in similar markets?
Is parallel trading poses a problem?
Are there antidumping laws in the foreign markets?
Finally, it is important to remember key points when pricing:
Export objectives (short-term, long-term growth…)
Pricing objectives (general or specific to region, countries...)
Pricing Method (making sure not to include costs related to domestic markets such as promotion and advertising…)
TBMedex SAS is a professional MEA Medical Device Distribution/Services/Outsourcing Organization.
We have helped medical manufacturers in exporting to more than 20 markets in the MEA Region, generating Multi million dollar sales pipelines with double figure growth rates and rapidly creating brand market leaders in their categories.