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Product pricing for the world...

October 15 2000 at 11:33 AM
 


Response to Two different prices for one product?

 
Hi Len,

Yes, you're right, variable pricing is best left alone. I think the same product will need to be sold at the same price wherever you present it in the world.

But I guess you're more concerned about giving New Zealanders a good deal because of the poor exchange rate for a product priced in USD (United States Dollars) - today's rate is now around NZ40c=US1.00.

Well, for example, if I were to advertise eBOOK SECRETS at an adjusted exchange rate price based on NZ$39, it would turn out to be US$15.52, AUD (Australian)$29.60, GBP British)10.75. Obviously the relative values of the product would be exceptionally good (read low!) for every other country - except ours which would be the "normal" price.

I solved the problem early on by defining my target market - ie, the large US market - so that my pricing and marketing structure was set there as a default.

This of course was a disadvantage to New Zealand buyer who now pays NZ$98 for a US$39 product, and indeed a few of our countrymen have written asking me if I would change my pricing to a universal dollar. That would mean a $39 product would then be NZ$39 or US$39, depending on the originating country.

Apart from the complications of automating such a system, the end result would be that I would end up preferring the outlet with the highest exchange rate - because that's where the most profit was.

I realise the current pricing system is not perfect, but until we get a one-world currency (and get over all the problems such as the Euro has had), this perplexing business is not going to satisfy everyone.

Best regards,
Ken Silver
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