Ethical issues with pricing
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You are an executive for a large multinational corporation and are meeting with other managers (your classmates) to discuss the following topic: Is the right price a fair price?
Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder, however, at the thought of $2 bottles of water, $150 running shoes, and $500 concert tickets.
Take a position:
Prices should reflect the value that consumers are willing to pay.
vs.
Prices should primarily just reflect the cost involved in making a product or service.
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Solution Summary
This posting will look at the ethics behind pricing and look at this dilemma:
Prices should reflect the value that consumers are willing to pay.
vs.
Prices should primarily just reflect the cost involved in making a product or service
Solution Preview
Prices should reflect the value that consumers are willing to pay.
In the market, there are many different options available to consumers - from low end products to high end designer one.
If you walk into a grocery store, you can see an entire row of water bottles. Some are marked with store brands, while others ...
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