Definition of Prestige pricing:
The practice of pricing goods at a high level in order to give the appearance of quality.
Marketing strategy where prices are set higher than normal because lower prices will hurt instead of helping sales, such as for high-end perfumes, jewelry, clothing, cars, etc. Also called image pricing.
How to use Prestige pricing in a sentence?
- I usually dont believe in prestige pricing , because if the guy across the street can sell the same thing were selling for less the customers are obviously going to go to him.
- Part two, ‘Wealth and the Quest for Prestige,’ describes how faculty preferences influence development policies, the quest for program rankings, and prestige pricing.
- Nike is a company that uses prestige pricing effectively, where prices are set higher than normal because lower prices will actually hurt sales.
- Tracy knew that the cost of the headphones was much to much due to prestige pricing , but she did not mind exchanging a little extra cash for the image boost the headphones gave her.
Meaning of Prestige pricing & Prestige pricing Definition