Prices are often set to satisfy demand or to reflect the pre


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Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay f… Show more 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 ticket. 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. (Use research to support your position and cite your sources). What does the literature say about pricing strategies? • Show less

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