Why is value to the customer a more logical approach to setting prices than cost of production?
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Why is value to the customer a more logical approach to setting prices than cost of production? What role can costs play in the setting of prices?
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Setting prices based on value to the customer is often more logical and potentially more profitable than pricing based on cost of production for sever...View the full answer
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I'm A J Anagha. I'm doing my third year of Bachelors' in Phyiscs at Assumption College, Autonomous, Changanacherry, India. Throughout my college life, I have always kept myself as an active student by partaking in various co-curricular activities, representing my college at the National Students Parliament. I'm also a member of the college students union and various other clubs and organisations like the United Nations Academic Impact, National Service Scheme etc.
To talk a bit about my working experience, I'm currently working part time as a subject matter academic expert at Chegg India Pvt Ltd. Also, I tutor physics to students in my locality for the past 2 years. I've worked a Software Test Engineer Intern at Tata Consultancy Services during December, 2019 - January, 2020.
To talk a bit about my international experiences, I was among the ten students from India who get selected for the Japan-Asia Sakura Science Exchange Student. Recently, I got selected for the T P Nedungadi Internship Award, which is a two month fully funded internship abroad and was awarded to two students from Kerala, India.
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