A Patek Philippe Platinum World Time wristwatch is among the most expensive in the world,costing several million dollars.This is an example of a __________ strategy.

Question

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Prestige pricing is a pricing strategy used for luxury products or brands, where the high price is used to indicate high quality or exclusivity. The Patek Philippe Platinum World Time wristwatch is a luxury product that is positioned as a status symbol, hence the high price is justified by the prestige associated with the brand and its reputation for quality and craftsmanship.

A Patek Philippe Platinum World Time Wristwatch Is Among the Most