J. Smith, sales manager for Chemco, an American manufacturer of industrial adhesives has just returned from China with a near-deal for an exclusive" wholesaler to handle sales to Chinese retailers. However the wholesaler is insisting on a markup of 25% on Chemco's selling prices. In the USA, Chemco's wholesalers typically mark up only 20% on the retailer purchase price. How would you advise J. Smith if the goal is a competitive (i.e. lower the better) retail price for Chemco in China? (choose the best answert) Negotiate something between 20% and 25% Abandon the China market Insist on the USA practice of 20% markup on retailer purchase price There is no problem here, since the two markup %s are equivalent O very reluctantly accept the Chinese wholesaler's demand