The idea that people will pay extra for "quality" and status is the idea behind
A) price lining.
B) average cost approaches to pricing.
C) penetration skimming.
D) prestige pricing.
E) psychological pricing.

Question

Quizplus · Accepted Answer

The idea that people will pay extra for "quality" and status is the concept of prestige pricing. This type of pricing strategy is used to position a product or service as a luxury item, emphasizing exclusivity and high quality in order to justify a higher price point.

The Idea That People Will Pay Extra for "Quality" and Status