Prestige pricing is considered to be a ________ approach to pricing.
A) demand-oriented
B) cost-oriented
C) profit-oriented
D) competition-oriented
E) service-oriented

Question

Quizplus · Accepted Answer

Prestige pricing is a demand-oriented approach because it involves setting a high price to create an image of quality and exclusivity, which is intended to attract customers who perceive higher prices as an indicator of prestige or superior value.

Prestige Pricing Is Considered to Be a ________ Approach to Pricing