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Customer location is a market‐limiting factor for the great majority of manufacturers. Under any full‐cost pricing system, companies are at their most competitive on their own doorstep and their appeal to the consumer diminishes as both the buyer's distance from the plant and the delivered price of products increase. For heavy industrial goods with a low value to weight ratio this is particularly true. The geography of actual and potential markets determines to a great extent the delivered price at which a firm is able to offer its products for sale and, as a consequence, the degree to which any particular market is exploitable.

In this paper the main objectives of transfer pricing are discussed as well as methods that have been suggested for each objective to be achieved. Also investigated are the interrelationships among transfer pricing objectives, methods, and circumstances under which companies operate

Holbrook Working (1949) discovered that the percentage change in futures prices seemed to be largelyrandom. This led Paul Samuelson (1965) to develop the Efficient Market Hypothesis (EMH) which claims that the current spot and futures1 prices fully reflect all relevant information. Furthermore, because the future flow of information cannot be anticipated, price changes will not be serially correlated. These papers linked the notion of randomness of price changes to informational efficiency. From that point on, a major part of the empirical studies of asset markets has been the application of time series analysis to asset prices, in order to evaluate whether the price changes are random and whether futures prices reflect all available information. As the statistical tests became more sophisticated, the number of empirical studies increased and the results became more contradictory and difficult to interpret. An economic theorist can only be bemused by contemplating the empirical/econometric studies in the finance literature.

In the affluent 1960s and 1970s, consumers tended to be price insensitive. Business consequently placed a low priority on pricing, and marketing educators in the USA responded by stressing the non‐price elements of the marketing mix. As a result, when consumers became more price sensitive in the 1980s and 1990s, and business became more concerned about pricing, marketing was not involved. Now, however, marketing educators are beginning to respond to the renewed emphasis on price as a key component in consumers’ perceived value. A new study shows an increase from 4 to 13 percent of US marketing education programs now including a course in pricing; another 22 percent are interested in adding one within two years.

The purpose of this article is to assess the pricing of stocks that are traded on both a US stock exchange and a non‐US stock exchange to determine whether interaction exists between the two exchanges.

This article identifies extreme price movements of stocks (winners and losers) in the non‐US stock exchanges that also trade as American depository receipts (ADRs) in the US market, and measure the US market response. Also identifies extreme price movements of stocks (winners and losers) in the US stock exchanges that also trade in the non‐US markets, and measure the non‐US market response.

Finds a significant reversal of winners and losers in the US market, which suggests that the US market attempts to correct the pricing in non‐US markets. Also finds that extreme ADR price movements in the US markets are followed by corrections in the non‐US market.

Market participants appear to monitor unusual stock price movements that just occurred in other markets, and correct for unusual price movements that cannot be rationalized. Such activity in global markets expedites the process by which price discrepancies are corrected. The evidence also suggests that the cost of equity in one market can be influenced by the actions of investors in another market.

This study of non‐US stocks that are cross‐listed in the US in the form of ADRs allows us to examine the interaction of pricing in a stock's local market with pricing in the US market.

What is the value of public price information systems for wholesale marketing in EC horticulture? Before the advent of today's advanced marketing theory and channelling of information these systems were considered in some quarters to be advantageous but the ramifications of the modern marketing scene and expenditure on modern technology lead some observers to wonder if they are practical and worthwhile. The conclusion here appears to be that in view of their many deficiencies horticulture will be no worse off without them.

The purpose of this paper is to explore how the difference between the sale price and list price of houses varies across the market cycle.

The paper utilises quarterly transaction‐based information on house prices from the Belfast Metropolitan Area. The information is structured on a time series basis from 2002 to 2008. The analysis is concerned with the mean differences between list price and sale price, the standard deviation of the differences, the skewness and kurtosis of the distributions.

The results show that under normal market conditions the mean deviation between list price and sale price is small circa 1 per cent. However, the departure between list price and sale price becomes substantial on both the up‐ and down‐cycles of the market. The analysis shows that the highest mean positive deviation of 12.1 per cent occurred in the first quarter of 2007 and two quarters before sale prices peaked, suggesting that buyer bidding behaviour was changing prior to the market peak. The extent of market change is highlighted by the mean negative deviation of 8.6 per cent for the fourth quarter of 2008. The results demonstrate that volatility increases over the cycle and distributions of price differences are lower and flatter.

This paper breaks new ground through the analysis of differences between list and sale price in a period of high volatility in the housing market. The analysis shows how list price lags sale price on the up‐cycle but leads on the down‐cycle.

Pricing is a primary factor in international business success. Conventional price definitions are too narrow and a wider definition, taking account of intangible as well as tangible product qualities, is more applicable. A firm needs to know the identities and strengths of its competitors. It must identify market segments and choose those in which to concentrate its efforts. Other factors must also be considered, including the stage in the product life cycle and the firm′s marketing strategy. This article describes the five major pricing axioms in international marketing and concludes that although pricing in international markets is not an easy task, by better understanding the international marketing environment, a company can more effectively set prices and be competitive.

Just‐in‐time manufacturing is one of the most important management developments of the last decade and a half. Articles on the subject have virtually flooded the business periodical literature. Yet despite the proliferation of this literature, there are indications that the fundamental implications of this concept as an effective competitive strategy have not been fully grasped by U.S. manufacturers. This article attempts to integrate the manufacturing strategy of just‐in‐time with an important element of the firm's marketing strategy—the price element of the marketing mix. Given the competitive pressures on many U.S. firms, price becomes an increasingly important competitive weapon. Only when the benefits deriving from just‐in‐time show up in a firm's marketing strategy will U.S. firms demonstrate an ability to translate an effective manufacturing strategy into a significant competitive edge.

Market liberalisation has resulted in significant changes not only in the way electricity is traded, but also for the market participants themselves. The bidding behaviour of market participants who are active in a liberalised UK‐like market has been modelled. Both operational and technical parameters associated with the market and its participants are accounted for. Explicit characterization of risk (value at risk) is made with respect to market participants and their attitude to trading. Profit maximization strategies for market participants are then developed based on the minimization of price‐risk under uncertainty. Results are presented for a selected case study and the effect of alternative strategies is compared. The case study concerns several generators who need to determine what proportion of their production they should sell to the market. The results show that based on cost and price forecasts there is scope for generators to profitably take advantage of both contractual and within‐day market trades.