Champagne is a product with considerable mystic. There is rarely a James Bond movie where he does not drink some Champagne with a beautiful woman! Champagne is typically associated with the "finer things in life." However, even among Champagnes, some are special - often just by the pricing strategy taken. For example, Dom Pérignon Rose Gold in the 6-liter bottle is priced at nearly $50,000, assuring this Champagne is perceived as "the finest thing in life." Dom Pérignon is using:
A) prestige pricing.
B) high line pricing.
C) ultra pricing.
D) market-based pricing.

Question

Quizplus · Accepted Answer

Prestige pricing is a strategy where prices are set higher than normal because the product is perceived to offer more in terms of value, brand, or experience. Dom Pérignon's high pricing for its Rose Gold Champagne is a classic example of prestige pricing, aiming to enhance its perception as a luxury or premium product.

Champagne Is a Product with Considerable Mystic