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Economics: Geographical Pricing
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Geographical pricing, in marketing, is the practive of modifying a basic list price based on the geographical location of the buyer. It is intended to reflect the costs of shipping to different locations. It is a variable pricing method in which a selling price is computed according to the customers or markets distance or transportation costs incurred. It is usually adopted in the case of food grains, pharmaceuticals, textiles, travel and tourism serves and the like. Using this method helps in calculating the price of the products correctly as there is a huge transportation cost involved and it eats away into the earnings or profit margin which one would get in case of a transaction taking place. This pricing is also applied in the e-commerce market. As most of the transactions take place online anywhere in the world and the warehouse from where the product has to be shipped will not be available at all places or countries leading to such a pricing being applied.
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