And beyond pricing strategy, there are people who feel that a fair price is intrinsic to the product (e.g. the amount of work that goes into it). For example, it's pretty common in the classical guitar luthier world for there to be a decade-plus waiting list for some masters. They refuse to scale up their prices to “market-level” (i.e. a couple years max, takes months to build a guitar), because they don't want the guitars going to someone for purely economic reasons. Mind you, these are still very expensive, five figure instruments.
(edit: you could obviously think of it as a strategy that maximizes some other utility function in which profit is just one parameter)
(edit: you could obviously think of it as a strategy that maximizes some other utility function in which profit is just one parameter)