Psychological pricing is a strategy that uses pricing to influence a customer's spending or shopping habits to make more or higher value sales.
The goal is to meet a customer's psychological need for something, whether that's saving money, investing in the highest quality item, or getting a 'good deal.'
Marketers had long been doing experiments in the psychology of prices... These findings must have dispelled any illusions about the fixity of prices.
Most often the way we're able to determine if something is a good deal is by getting it for a lower price than normally listed or by comparing it to similar products.
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