The advertisements for Joy brand perfume claim that it is the most expensive perfume in the world.This is an example of which type of pricing?
A) market share
B) target return
C) prestige
D) profit maximization

Question

Quizplus · Accepted Answer

The advertisements for Joy brand perfume claim that it is the most expensive perfume in the world, which implies that the pricing strategy used is prestige pricing. This strategy involves setting high prices for products to create a perception of high quality and exclusivity, which in turn attracts customers who are willing to pay a premium price for the product.

The Advertisements for Joy Brand Perfume Claim That It Is