A Patek Philippe Sky Moon Tourbillion men's wristwatch is among the most expensive in the world, costing more than $1.5 million in 2013. This is an example of a __________ strategy.

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The Patek Philippe Sky Moon Tourbillion men's wristwatch is priced at more than $1.5 million, which is far above the cost of production. This pricing strategy is known as prestige pricing, in which a high price is charged for luxury or high-end products to create an image of exclusivity and luxury. The goal of this strategy is not primarily to maximize sales but to position the product as a symbol of prestige and exclusivity.

A Patek Philippe Sky Moon Tourbillion Men's Wristwatch Is Among