A product that has more features than those of its competition, or that is perceived to be of higher quality, warrants using which type of pricing strategy?
A)Custom pricing
B)Special-event pricing
C)Premium pricing
D)Price lining
E)Reference pricing

Question

Quizplus · Accepted Answer

Premium pricing is the best choice in this scenario because it is a strategy that sets a high price to convey that the product is of higher quality than its competition. This pricing strategy works well when there are features or benefits that differentiate the product from others in the market, and customers are willing to pay more for those extra features or benefits.

A Product That Has More Features Than Those of Its