solved 1. Should a small business owner’s judgment be used to

1. Should a small business owner’s judgment be used to determine prices if so many mathematical 
techniques have been developed for that purpose?
2. Of the pricing techniques described in this chapter, which one do you think is most commonly
used by small business? Why?
3. As the owner of a small, hometown drugstore, how would you prepare for a Wal-Mart being built
in your area?
4. What advantages and disadvantages are involved for a small business offering sales on credit?
5. What factors should be considered when a small business owner decides to advertise?
6. Discuss the personality traits that a good salesperson should have. What traits would detract
from the personal selling process?
7. How would promotional mix decisions change for a small business that is expanding into a
foreign market?
For question 2 use this answer feel free to add to it. While customer perception is important to small business owners, they tend to be very pragmatic. Small business owners typically use cost-plus pricing by adding a set percentage onto the cost paid for products. It is simple and effective