Premium Pricing

A markup on the original market price of an item used to create an illusion of higher quality.

Deeper Insights

Premium pricing is frequently seen with brands such as Gucci, Apple, etc. People know the quality of product is already good, and with the reinforcement of a high price people expect that they are paying high prices for a reason.

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Related Keywords: Overpricing, Price Sensitivity Meter, Price Leader, Psychological Pricing