Psychological Pricing

Knowledge Center

   

Description of Psychological Pricing. Explanation.

Contents

Premium

 

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.


Provider error '80004005'

Unspecified error

/menu_comments.asp, line 129 Failed to execute script: Http Status Code = 500

Provider error '80004005'

Unspecified error

/menu_expert_tips.asp, line 836 Failed to execute script: Http Status Code = 500

Provider error '80004005'

Unspecified error

/menu_resources.asp, line 1302 Failed to execute script: Http Status Code = 500

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

Special Interest Group Leader

 
 

Return to Management Hub: Communication & Skills  |  Marketing


More on Management  |  Return to Management Dictionary  | 

 

This ends our Psychological Pricing summary and forum.



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2018 12manage - The Executive Fast Track. V15.0 - Last updated: 16-12-2018. All names of their owners.






Provider error '80004005'

Unspecified error

/menu_expert_tips.asp, line 836 Failed to execute script: Http Status Code = 500

Provider error '80004005'

Unspecified error

/menu_resources.asp, line 1302 Failed to execute script: Http Status Code = 500