There are two components to this week's homework.
First, you have probably heard one character in a movie tell another that the three most important factors for determining the quality of a property are "location, location, location." It is true for businesses as well, particularly "brick-and-mortar" retail businesses. Briefly describe the five key factors in selecting a good location for a "brick-and-mortar" retail store. Which of these factors do you believe is most important? Why?
Second, you will use your new understanding of the "Pricing" part of the marketing mix to examine the pricing strategy of a small business. In your written assignment, briefly describe the six pricing strategies. Identify and briefly describe a small business in your area. Which pricing strategy does this business use? Explain.
Your assignment should be a minimum of two pages.
Be sure to use APA formatting. For more APA information view the Tools & Resources page.