Why do owners and manager of small businesses spend so much time on issues of pricing?
Answer to relevant QuestionsHow do the four primary factors of optimum price work together to determine what price should be? Draw a diagram of the relationships. How can they also reach the parents of the tweens? In what ways is the marketing message different or the same? Recall the last time you purchased a product or service from a small firm. Did they use any of the techniques or skills involved in personal selling? How did they close the sale with you? Would this method have worked as well had the product been something like baked goods? Or mural painting? What methods would work better for these sorts of products? Use the filtering process and consider the steps you would take in trying to resolve the dirty car problem. What does this tell you about the product, price, promotion and location of your potential new business?
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