Mehran Spice & Food Industries started its journey in 1975 and within a few years of its inception, the company grew to become one of the leading spices & food industries globally. As time passed, the product range at Mehran increased from spices by adding ready mix recipes, rice, pickles, chutneys and sweet items. Now Mehran Spice want to make their presence in the global market and they have selected the market of USA and Canada. Being the marketing manager what decisions you will make considering the five modes of entering into the foreign market. Which mode do you think Mehran Spice should select and why?
Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
Mehran Spice & Food Industries started its journey in 1975 and within a few years of its inception, the company grew to become one of the leading spices & food industries globally. As time passed, the product range at Mehran increased from spices by adding ready mix recipes, rice, pickles, chutneys and sweet items. Now Mehran Spice want to make their presence in the global market and they have selected the market of USA and Canada. Being the marketing manager what decisions you will make considering the five modes of entering into the foreign market. Which mode do you think Mehran Spice should select and why?
Step by step
Solved in 2 steps