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1、InternationalPricingStrategy Dana NicoletaLascuChapter16 ChapterObjectives Identifypricing relatedinternalchallengesfacinginternationalfirms Identifypricing relatedchallengesimposedbycompetitiononinternationalfirms Identifypricingrelatedchallengesimposedbyenvironment relatedelements Identifypricing
2、relatedchallengesimposedbytheeconomicandfinancialenvironmentoninternationalfirms Addressinternationalpricingdecisionsofinternationalfirms PricingDecisionsandProcedures Pricingdecisionsareaffectedbyanumberoffactors ProductionFacilities Thelocationofproductionfacilitiesdeterminestheextenttowhichacompa
3、nycancontrolcostsandpricetheirproductscompetitively Largemultinationalcorporationsuseastrategywherebytheyshifttheirproductionfacilitiestooptimallocationsinordertotakeadvantageoflowercostsandexchangerates Smallerfirmsareoftenlimitedtoexporting AbilitytoKeepTrackofCosts Productcomponentsareoftenmanufa
4、cturedindifferentcountriesandthefinalproductisassembledinyetothercountries Theseproductsarethensoldallovertheworld makingitdifficulttokeeptrackofproductcosts Environmental RelatedChallengesandPricingDecisions TheCompetitiveEnvironment Competition Internationalandlocalcompetitioncancreateseriousprobl
5、emsfortheinternationalfirm Competitioncanlowerpricesbymanufacturinginalow labor costcountry Inaddition localcompetitorscanofferlegalcopycatproductsatamuchlowerprice Environmental RelatedChallengesandPricingDecisions TheCompetitiveEnvironment contd GrayMarket ParallelImportsasaCompetitiveThreat Graym
6、arkets orparallelimportsaredistributionsystemsthatarenotauthorizedbythemanufacturer Theyareusedtodivertproductsfromlow pricemarketstohigher pricemarkets Thedivertingpartybenefitsfromthedifferenceinpriceandthemanufacturergainslowerprofits Environmental RelatedChallengesandPricingDecisions TheCompetit
7、iveEnvironment contd DumpingasaCompetitiveThreat Involvessellingproductsbelowcosttogetridofexcessinventoryortounderminecompetition Inotherexamples aforeigncompanymayimposehighpricesontheproductsitsellsinthehomemarket whereithasamonopolystatusasaresultofimportbarriers thecompanycanthenusethosehighpro
8、fitstosellatmuchlowerpricesinforeignmarketsinordertobuildmarketshareanddriveoutcompetitors Environmental RelatedChallengesandPricingDecisions TheCompetitiveEnvironment contd DumpingasaCompetitiveThreat contd TheWorldTradeOrganizationallowsgovernmentstoregulateantidumpingactivityintheirownnationalmar
9、ketsbyimposing Anti dumpingduties dutiesthatmustbepaidbyfirmsasapunishmentforengaginginunfairpricecompetition Countervailingduties dutiesimposedonsubsidizedproductsimportedintothecountry Environmental RelatedChallengesandPricingDecisions ThePoliticalandLegalEnvironment Nationalgovernmentsinterferein
10、thepricingstrategiesofmultinationalfirmsbyimposingregulationsandrestrictions Nationalgovernmentsalsousenumerousstrategiestorestricttherepatriationofprofitsandtotaxand orencouragethereinvestmentofprofits Localgovernmentshavetherighttosethightariffsonimportsthatchallengeemerginglocalproducers asstated
11、intheinfant industryargument Environmental RelatedChallengesandPricingDecisions ThePoliticalandLegalEnvironment contd Multinationalfirmscounterlocalgovernmentactionsusingtransferpricing Apricingstrategyusedinintra firmsalesforcommercialtransactionsbetweenunitsofthesamecorporation withinorbeyondthena
12、tionalbordersoftheparentcompany Intransferpricing theparentcompanychargesthesubsidiaryorthejointventureasalespriceestablishedatmarketleveloratcost wherecostreflectstheopportunitycostoftheproduct Transferpricinghelpsmultinationalsunderreportprofitsandthusdecreasetaxburdenincountrieswherethecompanyhas
13、foreigndirectinvestment PriceofProtectionism Protectionismaddstothefinalpricepaidbyconsumersintheformofsubsidies tariffs andotherrestrictionsthatforcetheforeignfirmtoraiseprices Environmental RelatedChallengesandPricingDecisions TheEconomicandFinancialEnvironment Inflationarypressuresonprice Inflati
14、onaryenvironmentplacesstrongpressuresoncompaniestolowerprices Often pricingcompetitively astrategyusedbycompaniesduringthedownsideofaneconomiccycle meansthatcompaniesarenotmakingaprofit Fluctuatingexchangerates Representachallengetomultinationalfirms Firmscancoveranypossiblelossesinexchangeratefluct
15、uationsbyincludingapercentagethataccountsforsuchfluctuations Shortageofhardcurrency Environmental RelatedChallengesandPricingDecisions TheEconomicandFinancialEnvironment contd Shortageofhardcurrencycanbeaddressedusingcountertrade Countertrade Low incomecountriesfaceasignificantshortageofhardcurrency
16、reserves hardcurrencyiscurrencyacceptedforpaymentbyanyinternationalseller Alternatively softcurrenciesarecurrencieskeptatahighartificialexchangerateandcontrolledbythenationalgovernment Countertradeinvolvessellingaproducttoabuyerandagreeingtoacceptproductsfromthebuyer sfirminreturnforpayment Environmental RelatedChallengesandPricingDecisions TheEconomicandFinancialEnvironment contd Atypicalcountertradeexchangetodaywouldinvolveasellerfromahigh income industrializedcountryandabuyerfromalow incomeco
