If none of the above forms is appropriate, foreign firms may establish branch offices. This requires the written approval of the Ministry of Development. Such approvals are issued on the basis of a power of attorney that designates a person who permanently resides in Greece to act as the foreign corporation's legal representative in the country. The selling factors and techniques that are applicable to Greece are generally the same as those in other western European countries and the United States. Advertising Advertising and sales promotion are usually handled by one of many local advertising companies.
Advertising companies use all types of media to reach target groups.
The mass media in Greece includes four state-run and over fifty private TV channels, and more than five hundred radio stations. There are also eight major national daily newspapers and a large number of general and specialized interest magazines, most of which are targeting on young age groups. International press is also available in major cities and tourist destinations. A listing of national dailies and some business magazines appears in Appendix E. Pricing Greece has fully liberalized price controls, except for pharmaceutical and agricultural products. When pricing a product, firms should consider payment and credit terms.