ABC Company tries to set products apart from its competitors by setting a relatively high price compared to its competitors in order to develop and maintain an image of exclusiveness and quality. This type of pricing strategy is referred to as ______.
A) volume objective
B) profitability objective
C) objective of managers
D) prestige pricing

Question

Quizplus · Accepted Answer

Prestige pricing involves setting high prices to create an image of exclusivity and quality, which aligns with ABC Company's pricing strategy. The other options (volume objective, profitability objective, objective of managers) do not accurately describe this pricing strategy.

ABC Company Tries to Set Products Apart from Its Competitors