Talbot's sells women's clothes.A T-shirt with the Talbot's label costs $25.By comparison,you can buy a T-shirt for $5 at a Family Dollar Store,but it won't have the Talbot's label or quality.What kind of demand-oriented approach to pricing does Talbot's use?

Question

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Talbot's uses prestige pricing, which is a demand-oriented approach that involves setting higher prices to create a perception of higher quality and exclusivity. Customers are willing to pay more for the Talbot's label and the perceived quality of the products.

Talbot's Sells Women's Clothes