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Making strategic decisions about pricing is a critical aspect of launching a new or updated product. Imagine you're a Product Manager at Amazon headquarters in Seattle. You're in an internal company meeting to set the recommended customer retail pricing for an innovative Amazon Basics product. It's an innovative digital lot pet tracking and communications product called "Paws & Found." One of your Finance colleagues is also at the meeting and they've just recommended a retail product price, based on a cost-based analysis; they want to ensure Amazon makes enough profit margin on the launch of this unique new product. Below, share with your Finance colleague, two (2) distinct reasons why a "value-based pricing approach" may be better for this Amazon product than their "cost-based pricing" recommendation