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A watchmaker raises its price so buyers see the watch as better and higher in status. This is:
APrestige pricing
BPressure pricing
CPrevious pricing
DPriority pricing
Answer & Solution
Correct answer: A. Prestige pricing
1. High price signals high value here.
2. It is common where status matters.
3. This is prestige pricing.
_Source: OpenStax Introduction to Business, Chapter 11, Creating Products and Pricing Strategies to Meet Customers' Needs._
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