A Patek Philippe Sky Moon Tourbillion men's wristwatch is among the most expensive in the world,costing over 1.5 million dollars.This is an example of a __________ strategy.

Question

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The pricing strategy used by Patek Philippe for this particular wristwatch is prestige pricing, which sets a high price to signal exclusivity, rarity, and luxury. The high price creates a perception that the product is of exceptionally high quality and serves as a status symbol. The company is targeting affluent customers who are willing to pay a premium price for luxury and exclusivity.

A Patek Philippe Sky Moon Tourbillion Men's Wristwatch Is Among