What Is Prestige Pricing?

Prestige pricing: It is a kind of psychological pricing. In order to increase the cognitive value of potential consumers, some brand-name products or famous companies deliberately set the price as an integer or high price to limit potential buyers, and Create a high-quality impression that becomes prestige pricing or integer pricing. This method is most suitable for products whose quality is not easy to identify, because consumers have a mentality of advocating famous brands and often judge the quality by price.