A firm uses ________ for goods which the consumer takes pride in owning.

Name: A firm uses ________ for goods which the consumer takes pride in owning.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Prestige pricing is used to create a perception of high quality and exclusivity. This is often used for goods that consumers take pride in owning, such as luxury cars or designer clothes. The higher price actually reinforces the perception of exclusivity, as only those who can afford it can enjoy the prestige of owning the product.

A Firm Uses ________ for Goods Which the Consumer Takes