Question 1. Identify an example of each of the following terms: premium pricing, penetration pricing, economy pricing, psychological pricing, and promotional pricing. Discuss a time when you decided against purchasing something that was priced the lowest. What factors went into your decision to pay the higher price? For what product would these factors not influence your purchase decision?

Question 2. Why do marketing professionals care about and participate in supply chain decisions? Do you think small business owners are at a disadvantage if they lack the marketing research resources that large companies have?