Thursday, 1 August 2013

The Daily Idea from Harvard Business Review

  Daily Idea - Harvard Business Review

August 01, 2013

Pricing Products in Foreign Markets Is a Complicated Numbers Game


In the West, many of us have an aversion to the number 13 — it's bad luck, we think, and the sight of it can put us off. So marketers tend to avoid it. Superstitions are not unique to the U.S., of course; every culture is full of them. The problem, especially for companies looking to crack a new market, is that the "bad" numbers — i.e. the numbers to avoid at all costs — aren't usually shared from one culture to the next. Nine, for example, is bad luck in Japan. If a U.S. firm priced a product at $9.99 for the Japanese market, a very common price stateside, it may run into trouble. It pays to do your research before you set a price point.

SOURCE: Bad-Luck Numbers that Scare Off Customers by Nataly Kelly


Email Facebook Twitter LinkedIn GooglePlus



PREVIOUS IDEAS

ADVERTISEMENT




 

No comments:

Post a Comment