Perception of pricing.
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Prices are often set to satisfy demand or reflect the premium that customers 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:
Price 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.
Explain your position.
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Solution Summary
This posting address the dilema on pricing:
Price 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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