Problems 11.28 Market-based pricing, customer preferences Transrapid is a magnetically levitated train that connects Shanghai to Pudong International Airport at a speed of 268 miles per hour. Engineers developed a system with trains departing every 15 to 20 minutes. Suppose Transrapid asked you to research customer preferences and to recommend a pricing policy. It costs considerably more to have trains depart as frequently as 15 to 20 minutes apart, so a cost-based pricing schedule will result in ticket prices that are considerably higher than alternative modes of transportation. Required a. In addition to customer preferences, what information would you like to gather before recommending a pricing policy? Explain why each item you list is relevant. b. Explain why it is important to understand customer preferences before building the system