Which of the following pricing technique is used by a business, to foster a high end image for its products and services? A. Odd even pricing B. Low pricing C. Prestige pricing D. Going rate pricing
Question
Which of the following pricing technique is used by a business, to foster a high end image for its products and services? A. Odd even pricing B. Low pricing C. Prestige pricing D. Going rate pricing
Solution
The pricing technique used by a business to foster a high-end image for its products and services is C. Prestige pricing. This strategy involves setting the prices of goods and services at a high level in order to create a perception of quality and exclusivity that appeals to status-conscious consumers.
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