What kind of pricing strategy would you expect to find being used by the manufacturers of prestige brands such as Ferrari, Waterford, and Steinway?

Question

Quizplus · Accepted Answer

Manufacturers of prestige brands like Ferrari, Waterford, and Steinway typically use a pricing strategy that involves pricing above competition. This approach helps maintain the exclusivity and luxury perception of their products, aligning with their brand image and targeting consumers willing to pay a premium for high-status items.

What Kind of Pricing Strategy Would You Expect to Find