Prestige Pricing: What It Is & Why It Works (Examples)
Crayon
FEBRUARY 3, 2022
Q: How much is a product worth? A: Whatever people will pay for it. In some cases, that’s nothing (not great!). In others, it means charging a premium because, well, you can. Today, we’re focusing on the latter. This principle is what allows the enigmatic restaurateur Salt Bae to charge $1,200 for a ribeye flecked in gold leaf. It’s what makes a shiny rock in a pretty, robin-egg box cost 5x more than a shiny rock purchased from a jewelry shop that shares its parking lot with a Cheesecake Factory
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