Rolls Royce Motors is a company that represents the pinnacle of automotive excellence. Its cars deliver excellent quality and performance. The company prices its vehicles significantly higher than its competitors', as it believes that this communicates the quality and uniqueness of the vehicles. Which of the following pricing strategies is Rolls Royce using?

Question

Quizplus · Accepted Answer

Rolls Royce is using prestige pricing, which is a strategy to price products higher than competitors to communicate exclusivity and high quality. This pricing strategy is often used by luxury brands to create an image of prestige and exclusivity.

Rolls Royce Motors Is a Company That Represents the Pinnacle