A pricing tactic whereby a firm sets a high price to convey an image of high quality or uniqueness is known as
A) skimming pricing.
B) penetration pricing.
C) variable pricing.
D) prestige pricing.

Question

Quizplus · Accepted Answer

Prestige pricing is a tactic used by firms to set a high price point to create the perception of prestige, high quality, or exclusivity of the product or service being offered. It is often used in luxury markets where consumers are willing to pay more for perceived high-end or unique features.

A Pricing Tactic Whereby a Firm Sets a High Price