Randy's Apparels Inc.plans to expand its customer base and product line.It introduces a new line of designer wear that are very expensive and exclusively available at Randy's.It emphasizes the high quality and exclusivityof this new line of products in its advertisements.In this case,Randy's Apparels has used _____ for the new line of products.
A)predatory pricing
B)leader pricing
C)bait pricing
D)prestige pricing

Question

Randy's Apparels Inc.plans to expand its customer base and product line.It introduces a new line of designer wear that are very expensive and exclusively available at Randy's.It emphasizes the high quality and exclusivityof this new line of products in its advertisements.In this case,Randy's Apparels has used _____ for the new line of products.​
A)predatory pricing
B)​leader pricing
C)​bait pricing
D)prestige pricing

Quizplus · Accepted Answer

Randy's Apparels is emphasizing the high quality and exclusivity of its new line of designer wear, which indicates that they are using prestige pricing. This strategy involves setting prices higher than competitors to create a perception of high quality and exclusivity.