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Which pricing objective focuses on maximizing the prestige of the firm rather than profit?
  • a)
    Profit maximization
  • b)
    Cost-based pricing
  • c)
    Market penetration
  • d)
    Prestige pricing
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which pricing objective focuses on maximizing the prestige of the firm...
Prestige pricing is a strategy that focuses on maximizing the prestige or perceived value of the firm's products, rather than maximizing profit. By setting higher prices, a firm creates an aura of exclusivity and luxury around its products, appealing to a specific target market willing to pay a premium for the brand and image associated with the product.
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Which pricing objective focuses on maximizing the prestige of the firm rather than profit?a)Profit maximizationb)Cost-based pricingc)Market penetrationd)Prestige pricingCorrect answer is option 'D'. Can you explain this answer?
Question Description
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