Tom likes to drink scotch whiskey.He was familiar with the Johnny Walker Black Label brand,which he purchased for around $30.When he found a bottle of Johnny Walker Black Label priced at more than $200,he was positive that it would be a much finer whiskey.For Tom,_____ indicated quality.
A) premium pricing
B) price lining
C) prestige pricing
D) exclusive pricing
E) selective pricing

Question

Quizplus · Accepted Answer

Tom's perception of the Johnny Walker Black Label priced at over $200 as a much finer whiskey indicates that he associates price with prestige or status. This is characteristic of prestige pricing, where higher prices are seen as a signal of superior quality.

Tom Likes to Drink Scotch Whiskey