A manufacturer using __________ is setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.
A)skimming pricing
B)penetration pricing
C)price lining
D)odd-even pricing
E)prestige pricing

Question

Quizplus · Accepted Answer

Prestige pricing involves setting a high price to attract consumers who associate high prices with high quality and prestige. This pricing strategy is often used for luxury goods, high-end clothing, and high-end technology products. The goal of prestige pricing is to create an image of exclusivity and luxury, which can attract consumers who are willing to pay more for a high-quality product that makes them feel special or unique.

A Manufacturer Using __________ Is Setting a High Price So