With the advent of the global Internet market, would the "uniform global price" become a reality?Introduction:What is the "price" of a product ? How is the price of a product determined? Why is the price of an Apple iPhone relatively higher than the price of other smartphones with the same or more features? Read on…Pricing is one of the key functions of the finance department as well as the marketing department of any business, whether it is a manufacturing company or a service provider. On the one hand, the financial department decides the margins and other costs involved in bringing the product or service to final consumption, the marketing department analyzes market conditions, determines purchasing power and consumer behavior as well as various other factors that may influence the sales of their product in the market. However, as stated above, how is the price of a product determined and why is the price of an Apple iPhone relatively higher than the price of another smartphone with the same features or even more ? Here is the answer! The price of a product or service is an addition of the cost necessary to bring the product to its final stage, costs related to the types and number of distribution channels, "brand value, first-mover advantage, product innovation” and the final constituent of price, profit margin. Wondering why brand equity, first mover advantage and product innovation were cited together? Well, that brings us to the answer to the question relating to the price of Apple iPhones, the prices of which are mainly a combination of the brand's value in the market which acts as a status symbol for many consumers and first mover advantage through innovation of what we called innov...... middle of paper ...... and You.Com? Price dispersion factors among e-retailers. University of Maryland Working Paper.5. Lee K. and Carter S., (2012), “Global Marketing Management”, Oxford University Press.6. Keegan W. and Green M., (2013, 7th edition), “Global Marketing”, Pearson7. Abercrombie & Fitch expands in Asia and opens first Hollister stores in Australia - Columbus - Business First. 2013. Abercrombie & Fitch expands in Asia and opens the first Hollister stores in Australia - Columbus - Business First. [ONLINE] Available at: http://www.bizjournals.com/columbus/news/2013/02/22/abercrombie-fitch-expanding-to.html8. Abercrombie And Fitch reports falling sales amid CEO controversy. 2013. Abercrombie And Fitch Announces Sales Drop Amid CEO Controversy. [ONLINE] Available at: http://www.huffingtonpost.com/2013/05/24/abercrombie-sales-ceo-controversy_n_3332601.html.