Prestige pricing (setting a high price to convey an image of high quality or uniqueness) is a pricing tactic that reflects competitive advantage.

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Prestige pricing is a tactic that companies use to signal that their product is of high quality or uniqueness. By setting a high price, the company is indicating to consumers that the product is exclusive and desirable. This can give the company a competitive advantage, as customers may be willing to pay more for a product that they perceive as being of higher quality or more unique than other similar products on the market.

Prestige Pricing (Setting a High Price to Convey an Image