Prestige Pricing (Setting a High Price to Convey an Image

question 46

True/False

Prestige pricing (setting a high price to convey an image of high quality or uniqueness) is a pricing tactic that reflects competitive advantage.

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Definitions:

Pilot Lights

Pilot lights are small indicator lights used on control panels or machinery to show the operational status or signal specific conditions like power on or fault conditions.

PLCs

Programmable Logic Controllers, industrial digital computers used for the automation of electromechanical processes, such as control of machinery on factory assembly lines.