Asked by
Saone Trada
on Nov 06, 2024
Verified
Gucci bags often run into thousands of dollars.What kind of a pricing strategy is used by the company?
A) Penetration pricing
B) Reference pricing
C) Price skimming
D) Price discounting
E) Price dipping
Reference Pricing
A type of psychological pricing in which a lower-priced item is compared to a more expensive brand in hopes that the consumer will use the higher price as a comparison price.
- Learn about the approaches to pricing and their impact on the attitudes and actions of consumers.
Verified Answer
KM
Learning Objectives
- Learn about the approaches to pricing and their impact on the attitudes and actions of consumers.