This week’s discussion focuses on Chapter 11: Pricing Strategy. Following your review of the material from the chapter reading, prepare to take a stand on the following issue: 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.
In your post, use the material from the chapter readings to support your position: Prices should reflect the value that consumers are willing to pay versus prices should primarily just reflect the cost involved in making a product or service