If luxury brands such as Versace clothing,Lexus automobiles,and Dom Perignon champagne wanted to promote an image of superior quality and exclusivity to customers,they would most likely use which pricing tactic?

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Prestige pricing is a tactic where luxury brands set a high price for their products to create an image of superior quality and exclusivity, which is the goal of brands like Versace, Lexus, and Dom Perignon. This pricing strategy is based on the premise that consumers associate high prices with high quality, making them more willing to pay a premium to own products from the luxury brand.

If Luxury Brands Such as Versace Clothing,Lexus Automobiles,and Dom Perignon