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International Marketing - Lesson Summary
The American Marketing Association defines international marketing as a multinational process of planning, execution, conception, pricing, promotion, and distribution of ideas, goods and services to create an exchange that satisfies individual and organizational objectives.Global pricing is one of the most critical and complex issues in international marketing. It must be low enough to generate sales but high enough to achieve profit.Price discrimination exists whenever consumers in different countries are charged different prices for the same product or for a slightly different variation of the product.Predatory pricing refers to the use of price as a competitive weapon to drive weaker competitors out of a national market.Sales transactions between related entities of the same companies are referred to as transfer prices. It is used when individual entities of a larger multi-entity firm are treated and measured separately.Giving local operations autonomy to build their own business model and operate independently of the headquarters is a successful strategy adopted by global firms.The behaviour of customers varies from country to country and this causes problems for global researchers due to the fact that collecting primary data from them is comparatively difficult.