Setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it is referred to as
A) skimming pricing.
B) status pricing.
C) price lining.
D) value pricing.
E) prestige pricing.

Question

Quizplus · Accepted Answer

Prestige pricing involves setting a high price to attract quality- or status-conscious consumers, who perceive the high price as an indicator of superior quality or status.

Setting a High Price So That Quality- or Status-Conscious Consumers