If a business is able to create a prestige image in its customer's mind,it can charge much higher prices than the going rate.

Question

Quizplus · Accepted Answer

This statement is true. A prestige image creates a perception of superior quality and exclusivity, which allows businesses to charge premium prices. Customers are willing to pay more for products or services associated with a prestigious image because they believe they are buying something that is better than the average offering.

If a Business Is Able to Create a Prestige Image