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 P100 bottles of water, P8,000 running shoes, and P25,000 concert tickets. Take a position: Prices should reflect the value consumers are willing to pay versus Prices should reflect only the cost of making a product or delivering a service.

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 P100 bottles of water, P8,000 running shoes, and P25,000 concert tickets. Take a position: Prices should reflect the value consumers are willing to pay versus Prices should reflect only the cost of making a product or delivering a service.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 2DYMP

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