When the Apple iPhone 3G was introduced the Apple iTunes web site also began selling small program "apps" written by third parties that could be run on the iPhone.One interesting app was the "I Am Rich" application.For a price of $1,000 you could buy this app that did nothing but display a red gem on the iPhone's screen.The description of the app stated that this red icon would remind you (and others you show it to)"that you were rich enough to afford this." Six of the applications were sold before Apple Inc.removed the app from iTunes.At the $1,000 price the author of the app was using _____ pricing as part of his marketing approach.
A) snob appeal
B) prestige
C) exclusive
D) selective
E) unique

Question

Quizplus · Accepted Answer

Prestige pricing strategy sets high prices to connote high product quality and exclusiveness.

When the Apple IPhone 3G Was Introduced the Apple ITunes