Please answer the following questions addressed on here

Pricing Flexible Element in the Marketing Mix It is said that pricing is the most exible of all the elements of the marketing mix. In other words, marketers find price to be amenable to change on the "y" so to speak. With the power of the internet and consumption shifts from the physical "brick and mortar" to "clicks only" or "clicks and bricks today", the pricing dynamic has changed forever. In other words, the expression "consumer is king" is no longer a cliche. A few examples among a plethora of others... Em, Stubhub.com, Zappos.com, Amazon.com have shifted the pricing dynamic in favor of the consumer today. In a NY Times article, the issue of dynamic pricing or variable pricing was mentioned in the context of airline tickets and Broadway shows (e.g., Hamilton) in NY. So, reply to this query below... Should prices reect the value that consumers are willing to pay OR should prices reect the COST involved in making a product or service? 0r both