When considering the competition in price setting,the small business owner should:
A)consider the competitors' location.
B)consider the competitors' motives for their prices.
C)consider the nature of the goods being sold.
D)consider all of these.

Question

Quizplus · Accepted Answer

To effectively compete in price setting, the small business owner should consider all of the above factors: the competitors' location, motives for their prices, and the nature of the goods being sold. Factors such as proximity to customers and distribution channels, as well as the perceived value and quality of the goods, can also impact the pricing strategy. Understanding these variables can help the small business owner set competitive prices that are appealing to customers but also ensure a profitable margin.

When Considering the Competition in Price Setting,the Small Business Owner