Description
Defend ONE of the following statements:
- Prices should reflect the value consumers are willing to pay.
- Prices should reflect only the cost of making a product or delivering a service.
I need an essay for 500 words. I need references and in APA format.
Explanation & Answer
Attached.
Running head: PRICE DISCUSSION
1
Price discussion
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Running head: PRICE DISCUSSION
Discussion question: Prices should reflect only the cost of making a product or
delivering a service.
The question of price strategies and how it should be set has brought numerous
debates in the business sector. Pricing is an example of a building block in marketing that
appears to be easy to understand for many people but often the most difficult. Various
arguments have been brought on the table to help in proper pricing for goods and
services. Some people base their arguments on the social life status of the buyers
especially the kind of lifestyle that they live and the poverty level. On the other hand,
some groups of people argue that the price of the goods should be charged depending on
the costs ...
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