Read the following passage and answer the question.

EcoTech is a new brand focused on producing eco-friendly, energy-efficient electronic devices such as smartphones, laptops, and home appliances. Their mission is to provide consumers a sustainable alternatives to traditional electronics. The products are designed with recyclable materials, energy-efficient technology, and packaged in biodegradable materials. EcoTech's target market includes tech-savvy millennials, environmentally-conscious individuals, and businesses looking for sustainable solutions.

Following are the salient features of Eco Tech business:

1. EcoTech offers high-performance electronics that are made from sustainable materials and have lower energy consumption. They provide warranty and free repairs for the first year, and their products come with an eco-certification label to assure customers of the brand's environmental commitment.

2. The brand uses a premium pricing strategy. EcoTech's products are priced higher than conventional brands, reflecting the cost of sustainable production, innovation, and the value they offer in terms of environmental impact.

3. EcoTech's products are available through its online store, select retail outlets, and high-end department stores focused on sustainable living. They also offer global shipping, making their products accessible to international customers.

4. EcoTech sponsors sustainability events and runs awareness campaigns about the environmental impact of electronic waste and publishes the same in the press and their websites for information to customers.

Which of the following is a key feature of EcoTech's pricing strategy?

High prices reflecting the premium value of sustainable products

The correct answer is option 2- High prices reflecting the premium value of sustainable products.

EcoTech follows a premium pricing strategy, as mentioned in the case study. Their products are priced higher than conventional brands to reflect The cost of sustainable production, Innovative technology, The environmental value their products provide.