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, ato the thought of $5 bottles of water, $150 running shoes and $500 concert tickets. Take a position: Prices should reflect the value consumers are willing to pay versus prices should reflect only the cost of making and providing a product or service. Which side are you on and why.

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, ato the thought of $5 bottles of water, $150 running shoes and $500 concert tickets. Take a position: Prices should reflect the value consumers are willing to pay versus prices should reflect only the cost of making and providing a product or service. Which side are you on and why.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter20: Setting Prices

Section: Chapter Questions

Problem 2DYMP

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