Prestige pricing and product innovation are closely linked. This pricing strategy often goes hand-in-hand with high-quality, innovative products. When a company introduces groundbreaking features or cutting-edge technology, prestige pricing can reflect the product's innovation and superior quality. Customers paying premium prices expect not just basic functionality but something extra – be it advanced technology, superior design, or an enhanced user experience. Therefore, continuous innovation and maintaining high quality are essential for justifying prestige prices.