Firms with a prestige pricing objective are most likely to:
A) charge a higher price than most competitors to enhance their perceived quality.
B) reduce prices to maximize sales or gain a specific market share.
C) charge a lower price than most competitors to increase revenue.
D) match competitors' prices.

Question

Quizplus · Accepted Answer

Firms with a prestige pricing objective aim to position their products or services as premium offerings in the market. By charging a higher price than most competitors, they enhance the perceived quality and exclusivity of their offerings, aligning with the prestige pricing strategy.

Firms with a Prestige Pricing Objective Are Most Likely To