Learning Objectives

  1. Identify the three main considerations in setting a price for a product.
  2. Explain what breakeven analysis is and why it is important for pricing in a small business.
  3. Present examples of customer-oriented and internal-oriented pricing.
  4. Explain factors affecting small businesses getting paid.
  5. Describe the advertising, personal selling, public relations, and sales-promotion tools that a small business owner uses to compile a promotional mix.