An upward shift in price may be a deliberate action by a competitor to change its image and prestige associated with its brand.

Question

Quizplus · Accepted Answer

A company may increase its prices as a strategy to position itself as a premium brand, enhancing its image and prestige in the eyes of consumers. This can differentiate the brand from competitors and attract a customer base that is willing to pay more for perceived higher quality or status.

An Upward Shift in Price May Be a Deliberate Action