High Perceived Value Pricing Strategy at Launch

Hello everyone! I have a product that is designed to have a higher perceived value and to differentiate itself by quality, not by lower price. In fact, its manufacturing cost is higher and the branding proposal follows this direction.

I know that launches should be done at a much lower price than the final price and gradually increase it as it gains positioning and social recognition. However, for products where the aim is for their price to reflect their quality and enhance perceived value, should the same practice be followed?

In my specific case, between Vine reviews and the first purchases, I already have 18 reviews with an average of 4.6 stars. The product has been on sale for 2 weeks, and I have a 40% discount off its final price. This is also displayed on Amazon with the "save 40%" banner, making it considerably cheaper than other higher-quality competitive products that are being sold.

However, I'm having great difficulty selling, even though PPC impressions are working. Both the listing and the main image are very well optimized and attractive (tested in A/B places and others).

In your experience, could it be that such a low price makes them think it's of lesser quality? With already 18 reviews averaging 4.6, even if they are mostly from Vine, should I raise the price? Thank you!