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Given the equations below, which description best fits the physical situation?
Prestige Pricing
A pricing strategy where goods are priced higher than normal to invoke perceptions of quality and exclusivity, aimed at attracting status-conscious consumers.
Cost-Plus Pricing
Summing the total unit cost of providing a product or service and adding a specific amount to the cost to arrive at a price.
Yield Management Pricing
A strategic pricing approach used in industries like airlines and hotels, where prices are adjusted in real-time based on demand, with the aim of maximizing revenue.
Penetration Pricing
A pricing strategy that involves setting a low price for a new product to attract customers and gain market share quickly.
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