Question: Do you believe that prices should reflect the value that consumers are willing to pay or should price primarily reflect the cost involved in providing

Do you believe that prices should reflect the value that consumers are willing to pay or should price primarily reflect the cost involved in providing a service?

Please note: the same question could be asked about a (tangible) product.

A few things to consider when responding to this question (not to be answered question by question but you may want to integrate some of these into your response(s):

What does marketing mean?
What is marketing success predicated upon?
Where do needs enter?
Does marketing create efficiencies?
What is the purpose of a non-profit?
How similar are for-profit and non-profit firms? How different?
Has society changed?
What role does ethics play?

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