What is a major reason that customer$-$based pricing is not more commonplace?

It is better for a firm to use competitor pricing since this is a more accurate way of determining what existing customers are willing to pay.

It is easy to acquire detailed information on a customer's needs.

Customer$-$based pricing requires research on customer needs rather than the firm's costs or the prices of competing products When costs are low for a firm to produce a product, cost$-$based pricing is a better model to use compared to customer$-$based pricing.

Cost$-$based pricing is difficult to implement when new products are introduced.