1. McNair's Wheel of Retailing is a widely used model to describe the way in which retail outlets develop over time.
In what ways does this model reflect reality? Can you think of situations where retailers do not follow this model?
2. Henderson Industries is a medium-sized pharmaceutical company. It is introducing a new product, Azoropan, which has shown considerable potential for controlling Type II diabetes.
What factors should/might influence top management when it comes to pricing this new drug?