Stephen,
Your local dealer or independent should be able to supply you with a kit of factory base and factory clear in a "touch-up kit" size. Before you do any touch-ups you want the area 100% clean, and 100% wax free. A quick going over with #7 once clean will do the trick. Try not to use the touch up "brush" in the MB touch-up bottle unless Plymouth Rock has landed on your hood. You can get far better results with a toothpick. More patience and precision is required but it is worth the effort. I have always seen the best results from building up the stonechip in gradual layers vs just ladling on the paint in one big glob. If you get too much on and it is above the rest of the paint you may have to wet-sand. (2000 grit superglued to a 1" cube to assure precision) If you carefully build up the chip over several steps with something as sharp and precise as a toothpick you will get far better end results. Know your paint as well...on a newer car (say a 98 W210) there is a hefty amount of clearcoat and slightly less basecoat compared with a W124 of the same color. Meaning that if your car has mostly clean use a bit of colored base, then build up the clear. If yours is mostly base then build up with color and top it off with a bit of clear. Its usually better to err on the side of too much clear... Be patient, take your time, do the best you can on every inch. Cutting a few mins now will gall you every time you look at it later.

Your shade of red will want to fade on you. If there are no significant swirls then multiple coats of #7 followed by either #26 or Gold Class liquid Wax will keep it looking "wow". I have had mixed luck with the Gold Class on older finishes. On the newer/better maintained stuff it works great. The #26 has never disappointed me under any conditions. The Endurance/Vinylex/etc with a Q-tip works well with most any tire dressing. It also works well for the sleeve around the side rearview mirrors. My Vinylex is in a light blue bottle with a white top. The Lexol leather cleaner is in an orange bottle and the conditioner is in a brown bottle. Last I checked those were still the colors used. If there is anything else feel free to ask.

Hope this helps...Lee