Pricing across cultures-a framework

The chapter presents key elements of developing and implementing pricing strategies across cultures: these elements are (1) define pricing objectives, (2) analyse key elements of pricing decisions, (3) select profitable price ranges and (4) implement price change. For each of these elements, this paper critically reviews available studies in the domain of cross-cultural marketing and highlights the influence of salient cultural factors on pricing strategy. The main contribution of this chapter is the development of a framework that specifies the steps that are required for implementing pricing strategies effectively across cultures.