ABSTRACT
Business practitioners and academicians alike have long acknowledged the importance of price as an important decision-making tool regardless of their specific functional or disciplinary backgrounds and the industry within which they operate. As in the domestic markets, pricing is also an important variable in international markets. Depending upon international orientation and the type of involvement in international markets, different strategic approaches to pricing are utilized. Variations and differences as well as similarities in foreign market conditions, competition, legal and governmental regulations, and all other international environmental constraints should be taken into consideration through environmental scanning activities. International pricing policies must reflect the firm’s global corporate objectives. A number of factors influence the price an international company sets on its products, but total profit was ranked the most important by a group of selected large North American companies. The interrelationship between price and the other components of the marketing mix necessitates close coordination among them.
