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    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.

    © BrainMass Inc. brainmass.com March 4, 2021, 6:38 pm ad1c9bdddf
    https://brainmass.com/business/product-management/ethical-issues-with-pricing-53898

    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 ...

    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

    $2.49

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