What are the major public policy issues in pricing? Does Amazon practice predatory pricing or just good competitive marketing? ?? mi
What are the major public policy issues in pricing? Does Amazon practice predatory pricing or just good competitive marketing?
minimum 250-word response
We noticed that gas prices literally went up $.50+ overnight recently. Gas stations are one business that is notorious for price gouging. So as you think about the ethical components that come with setting a price, there are some pretty foundational philosophies that must be followed. Customers will make a purchase if the value of that product outweighs the price. Rarely do we find ourselves saying I’m going to overpay for this product because I want it. In fact, the only industry I know that this happens is electronics.
After completing this lesson, you should be able to:
- Recognize the major considerations in setting prices
- Discuss price adjustment strategies
- Describe ethics and price fixing
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