Asked by
Sarah Schollmeier
on Dec 15, 2024
Verified
You can buy a General Electric dishwasher for $399 or you can buy a similar Bosch brand dishwasher for $989. Since Bosch uses its pricing strategy to project a high-quality product image, it is most likely using ________ pricing.
A) bundle
B) standard markup
C) prestige
D) penetration
E) cost plus fixed-fee
Prestige Pricing
A pricing strategy where prices are set high to create a perception of exclusivity and high quality, often used for luxury goods.
High-quality Product
A product that surpasses ordinary standards of performance, durability, and design, and meets or exceeds customer expectations.
- Appreciate the variety of pricing techniques and their strategic aspirations, like prestige, target, and price lining pricing strategies.
- Evaluate the significance of pricing in establishing a product's placement in the marketplace, for instance, in projecting an image of superior quality.
Verified Answer
KL
Learning Objectives
- Appreciate the variety of pricing techniques and their strategic aspirations, like prestige, target, and price lining pricing strategies.
- Evaluate the significance of pricing in establishing a product's placement in the marketplace, for instance, in projecting an image of superior quality.