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.

Special Interest Group - Psychological Pricing Special Interest Group (62 members)

Forum - Psychological Pricing   In the forum section you will find recent discussions within this knowledge area.   The Importance of Price Stereotypes for the Price Image in Consumer Products Research by Hamilton and Chernev (2013) revealed that consum...           Pioneer Pricing vs. Psychological Pricing (3 reactions) What is the difference between psychological pricing and pio...           Is this Psychological Pricing? (2 reactions) Can you anser the following question. A shop is selling a pr...

Best Practices - Psychological Pricing In the best practices section you will find the best forum discussions within this knowledge area.

Expert Tips - Psychological Pricing In the expert tips section you will find advices from experts within this knowledge area.

Resources - Psychological Pricing In the Resources section you will find powerpoint presentations, micro-learning videos, articles, news items, etc. within this knowledge area. Overview of Pricing and Pricing Strategies Pricing...     News about Psychological Pricing         Videos about Psychological Pricing         Presentations about Psychological Pricing         Books about Psychological Pricing         More about Psychological Pricing

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.