Prestige pricing refers to
A)charging different prices to different buyers for goods of like grade and quality.
B)setting a high price so that quality-or status-conscious consumers will be attracted to the product and buy it.
C)setting a low initial price on a new product to appeal immediately to the mass market odd-even pricing.
D)setting a market price for product or product class oriented on a subjective feel for the competitors' price or market price as the benchmark.
E)setting a price that is dictated by tradition, a standardized channel of distribution, or other competitive factors.

Question

Quizplus · Accepted Answer

Prestige pricing is a strategy where a high price is set for a product in order to convey the message that it is a high-quality or status symbol. This strategy appeals to consumers who are willing to pay extra money for products that they perceive as prestigious or luxurious.

Prestige Pricing Refers to