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Reductions for transportation and other costs related to the physical distance between buyer and seller are known as geographic pricing.
What is Geographic Pricing?
- Geographical pricing is the process of modifying an item's sale price according to the buyer's location. The cost of shipping the item to that place is occasionally the basis for the difference in the sale price.
- However, the difference can also depend on how much the local populace is prepared to spend. Geographic pricing aids businesses in their efforts to maximize income in the marketplaces where they compete.
- The price discrepancy may be caused by the cost of shipping, the taxes levied in each place, or the willingness of the locals to pay.
- Prices also vary depending on demand, such as if a product is unique to a market or competes with many rivals in that market.
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