interview a successful small retailer and ask the following questions: do they seek a specific image through their prices?
What role do competitors play in the business owner's pricing?
Does the retailer use specific pricing techniques, such as odd pricing, pricing lining, leader pricing, and geographic pricing? how are discounts calculated?
What markup percentage does the firm use? how are prices derived?
what are their cost structures? select an industry that has several competing small firms in your area> contact these firms and compare their approaches to determining prices.
Do prices on identical or similar items differ? why are the companies prices on identical or similar items different?