Discussion Post: Pricing Ethics
What are the major public policy issues in pricing? Does Amazon practice predatory pricing or just good competitive marketing
Response
We noticed that gas prices literally went up $.50+ overnight recently. Gas stations are one business that is notorious for price gouging. So as you think about the ethical components that come with setting a price, there are some pretty foundational philosophies that must be followed. Customers will make a purchase if the value of that product outweighs the price. Rarely do we find ourselves saying I'm going to overpay for this product because I want it. In fact, the only industry I know that this happens is electronics.
After completing this lesson, you should be able to:
a) Recognize the major considerations in setting prices
b) Discuss price adjustment strategies
c) Describe ethics and price fixing
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.