Question
Which of the following is an example of prestige pricing? selling a football jersey for 49.99 negotiating prices at a swap meet charging high prices for status products
Answer
4.7
(119 Votes)
Xander
Veteran · Tutor for 12 years
Answer
'charging high prices for status products'
Explanation
## Step 1: Prestige pricing, also known as image pricing or premium pricing, is a pricing strategy where prices are set higher than normal. This strategy is based on the principle that a higher price will lead to a perception of higher value. ## Step 2: This strategy is used in the case of high value, high status products, where consumers are drawn towards purchasing these products due to their perceived exclusivity and quality, which they speculate based on its higher price. ## Step 3: In the given options, the only example of prestige pricing is 'charging high prices for status products'. The other options do not exemplify the concept of prestige pricing.