The advertisements for Joy brand perfume claim that it is the most expensive perfume in the world.This is an example of _____ pricing.
A) target return
B) prestige
C) market share
D) maintained markup
E) profit maximization

Question

Quizplus · Accepted Answer

Prestige pricing is a strategy where a high price is charged in order to create an image of high quality, luxury or exclusiveness. This strategy is often used for luxury products such as perfume, and Joy brand perfume is marketed as the most expensive perfume in the world, suggesting that it is a high-end, luxurious and exclusive product.

The Advertisements for Joy Brand Perfume Claim That It Is