What is the big disadvantage of a Cost-Based Pricing Approach

What is the big disadvantage of a Cost-Based Pricing Approach, compared to a Value-Based Pricing Approach? No more than 2 bullet points.

Explain the relationship between a companies’ Pricing Strategy and its Value Proposition. Your answer must include a reference to at least one specific Value Proposition (examples: “More-for-More”, “Less-for-Much Less”).   Explain your answer in no more than 2 bullet points. These bullets can be longer ones if needed.

Would the cost of pizza boxes purchased by a Pizza Pizza store be a Fixed Cost or a Variable Cost? Explain why. No more than 2 bullet points.