Should prices reflect what consumers are willing to pay

Pricing the entire menu at $1.29 would make things simple for the company and consumers ‚ as well as offering the most potential profit per item.Do you believe that prices should reflect the value that consumers are willing to pay or should prices primarily reflect the cost involved in making a product or service.Collepals.com plagiarism free papers are you looking for custom essay writing service or even dissertation writing services?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.This makes willingness to pay a crucial factor when finding the best price to sell a product at, for both the seller and buyer.

Should the prices of products or services reflect the value consumers are willing to pay?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 expert answer price should and always have been reflecting the value consumers are willing to pay.The correct answer is that the prices are supposed to reflect both the value that the consumers are willing to pay and the cost that is involved in the making of the product or service.Prices should primarily just reflect the cost involved in making a product.Prices that more closely approach the customer's willingness to pay will yield a higher profit for the firm.

Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service.I do believe (generally) that prices should be reflective of the value which consumers are willing to and able to pay;Prices should reflect the value that consumers are willing to pay.Business / marketing » 182003 pricing of productsAnd that most of those who are providing goods or services, should not set prices arbitrarily.