LuxeShoes is a premium footwear brand and, while LuxeShoes i…

LuxeShoes is a premium footwear brand and, while LuxeShoes is certainly aware of their costs and includes them in pricing calculations, their pricing process focuses on the value created by their footwear for their customer segments and their customers’ subsequent willingness to pay based on their perceived value of the shoes and sandals. Given the description of LuxeShoes’s approach to pricing, which of following is the term that best describes their approach?