Psychological Pricing

Knowledge Center

• About
• Home
• Dictionary
• Encyclopedia
• Question?
• Views

• Register
• Log in
• Help

• Change & Organization
• Communication & Skills
• Decision-making & Valuation
• Ethics & Responsibility
• Finance & Investing
• HRM
• Knowledge & Intangibles
• Leadership
• Marketing
• Program & Project
• Strategy
• Supply Chain & Quality

Description of Psychological Pricing. Explanation.

Definition Psychological Pricing. Description.

Psychological Pricing is a market-based approach to pricing wherein prices are set to a level that is perceived as attractive by consumers. This method is designed to encourage purchases that are based on emotional rather than rational responses. For example to a relative high level to promote the idea of value and status for consumers that believe price is an indicator of quality. Or just below a round figure (popular price points) to for example $19.99 to suggest the price is in a lower range than the consumer expected. Also special promotions can be used such as 3 for the price of 2 to attract consumers looking for a bargain.

Psychological Pricing Special Interest Group Special Interest Group (60 members)

Psychological Pricing Forum   Recent topics   The Importance of Price Stereotypes for the Price Image in Consumer Products           Pioneer Pricing vs. Psychological Pricing           Is this Psychological Pricing?

Best Practices - Psychological Pricing

Expert Tips - Psychological Pricing Advance yourself in business administration and management

Resources - Psychological Pricing Overview of Pricing and Pricing Strategies     News about Psychological Pricing         Videos about Psychological Pricing         Presentations about Psychological Pricing         Books about Psychological Pricing         More about Psychological Pricing       Accelerate your management career

Compare with: Marketing Mix  |  Positioning  |  Perceived Value Pricing  |  Promotional Pricing  |  Cost-plus Pricing  |  Standard Cost Pricing  |  Marginal Cost Pricing  |  Target Pricing  |  Penetration Pricing  |  Price Skimming  |  Competitive Pricing  |  Discount Pricing

Return to Management Hub: Communication & Skills  |  Marketing

More on Management  |  Return to Management Dictionary  | 

This ends our Psychological Pricing summary and forum.