Designer companies such as Prada, Chanel, and Cartier tend to price their product very high to infer quality and exclusivity to potential customers. Strategically, this approach is known as a:

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This approach is known as a prestige objective because it aims to position the brand and its products as high-quality and exclusive, justifying the high price point and appealing to consumers seeking luxury and status.

Designer Companies Such as Prada, Chanel, and Cartier Tend to Price