Randy's Apparels Inc. plans to expand its customer base and product line. It introduces a new line of designer wear that are very expensive and exclusively available at Randy's

It emphasizes the high quality and exclusivity of this new line of products in its advertisements. In this case, Randy's Apparels has used__________for the new line of products.

Fill in the blanks with correct word.

ANSWER: prestige pricing

Randy's Apparels has used prestige pricing to promote its new line of high-quality products. This is an example of pricing strategy used as a promotion strategy. Prestige pricing is charging a high price to help promote a high-quality image.