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 this in the form of a reply to the discussion on the above topic.I need it in about 300 words. Thanks
Explanation & Answer
Attached.
Defend ONE of the following statements:
1. Prices should reflect the value consumers are willing to pay.
2. Prices should reflect only the cost of making a product or delivering a service.
Prices should always reflect the cost of product making or service delivery only rather than
the cost that the consumers are willing to pay. This is accentuated to the fact that a very high or
low price compromises growth of any business activity (Raju & Zhang, 2010). For instan...
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