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What Factors Should the Small Business Owner Consider When Selecting

question 37

Essay

What factors should the small business owner consider when selecting the city location for his/her small business? What is the index of retail saturation and how does it help a retailer in making this decision?


Definitions:

Target Return

A pricing strategy where the price is set based on a desired return on investment for a product or service.

Higher Horsepower

Refers to engines or motors with greater capacity to produce power, typically resulting in enhanced performance or capability.

Right Price

The optimal price point for a product or service that balances profitability with customer satisfaction and demand.

Market Will Bear

The maximum price that consumers are willing to pay for a product or service in a given market.

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