Bijan's in New York City has offered a five-piece set of crocodile luggage for $55,000. This is an example of________ pricing.

Question

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The high price of $55,000 for a five-piece set of crocodile luggage suggests that it is targeted towards wealthy individuals who are willing to pay a premium for luxury items. This is an example of prestige pricing, which involves setting high prices to create a perception of exclusivity and luxury.

Bijan's in New York City Has Offered a Five-Piece Set