High price can create product prestige.

Name: High price can create product prestige.
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

High prices can create a perception of luxury and exclusivity, which can contribute to product prestige. Many luxury brands, such as Chanel or Louis Vuitton, are known for their high prices and associated reputation for high-quality and status. However, this is not always the case, and there are many other factors that contribute to product prestige beyond price alone.

High Price Can Create Product Prestige