The sales of Noritake dinner plates are high even though a Noritake dinner plate is priced relatively high for its product class. This is because it offers high quality, has special features, and consumers view it as a prestige product. The pricing used by Noritake can be best described as
A) value pricing.
B) markup pricing.
C) deceptive pricing.
D) bundle pricing.

Question

Quizplus · Accepted Answer

Setting prices so that targeted customers will perceive products to offer greater value than competitive offerings is called value pricing.

The Sales of Noritake Dinner Plates Are High Even Though