The strategy you are describing is referred to as premium pricing. This strategy involves setting prices higher than competitors to reflect the high quality or luxury status of the products.
Question
A strategy that is most effective for unique goods or when a brand is positioned for delivering high quality, luxury products that involves pricing their products higher than competitors, it is referred to as what?
(1 point)
Responses
economy pricing
economy pricing
market penetration
market penetration
premium pricing
premium pricing
price skimming
1 answer