What is the primary difference between cost$-$based pricing and value$-$based pricing?

Cost$-$based pricing sets prices based on production costs, while value$-$based pricing sets prices based on customer perceptions of $v_i$

Cost$-$based pricing sets prices to reduce costs, while value$-$based pricing sets prices to ensure customer satisfaction.

Cost$-$based pricing sets prices to match competitors, while value$-$based pricing sets prices to maximize profits.

Cost$-$based pricing sets prices without considering costs, while value$-$based pricing sets prices solely based on production expens

Cost$-$based pricing sets prices by starting with customer needs, while value$-$based pricing sets prices by starting with product de