Learning Objective 6 Discuss the key issues related to initiating and responding to price changes.

Price changes pp. 279–82 Public policy and pricing pp. 282–84 Price should be what you can get in the market! If value-based pricing considers the customer’s viewpoint, should not the price be set at the highest level a customer will pay? Surely this means the customer is getting value and the company is maximising profit? Or are there other factors to consider?
Explain your answer. (Learning Objective 1) (AACSB: Reflective Thinking)