Psychological Pricing

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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.


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  The Importance of Price Stereotypes for the Price Image in Consumer Products
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  Pioneer Pricing vs. Psychological Pricing (3 reactions)
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  Is this Psychological Pricing? (2 reactions)
Can you anser the following question. A shop is selling a pr...
 
 
 
 

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Overview of Pricing and Pricing Strategies

Pricing...
 
 

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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

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