Business Economics – There are no rules

In the world of retail sales, Rule #1 is ‘There are no rules’! The small business owner needs to understand this underlying principle in setting price and quality for his product. This doesn’t mean there are no guidelines. Each industry is different in the way it handles the pricing of the product it delivers to the customer. Understand your product, no, become the expert in your product and you can set a higher price.

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