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Is the Right Price a Fair Price? Prices are often set to satisfy demand or to...

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General Management

Is the Right Price a Fair Price? Prices are often set to satisfydemand or to reflect the premium consumers are willing to pay for aproduct or service. Take a position: “Prices should reflect thevalue consumers are willing to pay versus Prices should reflectonly the cost of making a product or delivering a service.” -Principles of Marketing. Please use the concepts of the subject andpricing menu of it to create my answer.

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4.2 Ratings (776 Votes)
Ill be taking a position in favor of the argument that Prices should reflect the value consumer are willing to pay Here are a few reasons why I support valuebased pricing over the cost of goods or cost of production based pricing The cost of goods or production isnt constant Thats because the cost of goods sold primarily depends on the economies of scale The cost of goods sold reduces over time as the number of units produced increases This dramatically brings    See Answer
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