Module 5 Discussion Questions (Answer each question):
(1) How do you judge the quality of a product/service, whether a computer, legal services, or something else? Is it mostly by price? Discuss your perceptions of price and quality. Do you judge the quality of goods differently than services? Why or why not?
(2) Have you ever encountered dynamic pricing? State the type of product/service situation in which you experienced dynamic pricing. What type of industries are the best ones to use dynamic pricing? What are the advantages and disadvantages both short term and long term? Include considerations of customer perceptions of fairness in your response.
(3) Describe how your company would determine the price of a product/service in a foreign market that is already established in a domestic market. State what factors are important in your pricing decision and why these factors are important. Would you change your pricing decision over time? Include information on the product life cycle in your discussion.
(4) After reading “Born Global” talk about the advantages and disadvantages of going global earlier rather than later in the life of a small to medium sized business. What kind of foreign market entry strategies would you recommend for different types of firms/industries?